Search Results for: bankruptcy

Essar Steel to face insolvency proceedings, finally

The Ahmedabad bench of the National Company Law Tribunal (NCLT) accepts insolvency proceedings initiated by State Bank of India and Standard Chartered Bank.

Aug 2, 2017

Arvind Panagariya quits as NITI Aayog vice-chairman

Arvind Panagariya wants to return to Columbia University as he has exhausted his leave of absence. The PM has accepted the resignation and his last day in office will be August 31.

Aug 1, 2017

Jaitley on GST: Government will not blink if larger national interests are involved

Addressing a GST Conclave in Chennai, he also said that the GST was not an easy tax reform to implement and there are people who wanted to stall reforms.

Jul 31, 2017

Going bust: Steeling up for insolvency, and the intriguing case of Electrosteel

When management promises turn out to be sheer mirage, there arise glaring examples of the high quantum of mismanagement which banks and taxpayers face.

Jul 27, 2017

India's Big Steel enigma: Grey hair, red ink, but blue skies?

Highly leveraged steel companies working on thinning margins augur ill for the balance sheets of banks.

Jul 24, 2017

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NPA crisis: Cleaning up bad loan mess is the priority, says RBI

Last month, the RBI referred 12 NPA accounts, accounting for 25 percent of bad loans in the banking system, for resolution under the Insolvency and Bankruptcy Code (IBC).

Jul 23, 2017

Vijaya Bank net profit defies bad loan drag, jumps over 57% to Rs 255 crore

On the 12 stressed accounts chosen by the Reserve Bank of India last month under the insolvency and bankruptcy law, Vijaya Bank's total exposure is Rs 12,800 crore

Jul 22, 2017

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Fate of ABG Shipyard, Amtek Auto likely to be decided by Tribunal today: Report

ABG Shipyard owes about Rs 17,000 crore while Amtek Auto's debt is an estimated Rs 14,000 crore.

Jul 20, 2017

Banks to take hit of Rs 18,000 cr for 12 accounts identified for bankruptcy

Ind-Ra forecasts additional provisioning to eat into bank profits by around 25 percent in fiscal 2018.

Jul 18, 2017

Insolvency case: Gujarat HC dismisses Essar Steel petition challenging RBI

Essar Steel's petition had challenged the RBI directive to banks for initiating insolvency proceedings against it

Jul 17, 2017

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Number of PSBs may go down to 12 as govt mulls consolidation

The 21 public sector banks are expected to be consolidated to 10-12 in the medium term.

Jul 17, 2017

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Gone with the wind? Inox Wind becomes first insolvency case in wind energy

Operational creditor Jeena & Company submitted to the company law tribunal that Inox Wind has outstanding payments of Rs 57.5 lakh as of March 25, 2017.

Jul 15, 2017

SBI not rushing towards bankruptcy code due to lack of ecosystem, says chairperson Arundhati Bhattacharya

Last month, the apex bank had identified 12 large accounts with exposure of more than Rs 5,000 crore and more than 60 percent of which is recognised as NPAs.

Jul 11, 2017

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SBI, other lenders suffer setback; Essar Steel gets reprieve in loan default case from Gujarat High Court

Estimates put the amount owed by Ruia-controlled Essar Steel at Rs 37,000 crore; the company is one of the 12 defaulters reportedly identified by RBI for swift recovery under insolvency code.

Jul 5, 2017

Where banks fear to tread: NPAs on the rise, RBI moves slowly, but surely

Over-leveraged industry stalls on investments and capacity utilisation, as banks go easy on the lending button.

Jul 4, 2017

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