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NuMetal, LNM back in fray for Essar Steel?
Fri, Apr 20, 2018
The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Thursday put the ball back in the committee of creditors’ (CoC) court by ordering it and the resolution professional (RP) of Essar Steel to re-examine the eligibility of the two bids submitted in the first round.
First case under NCLT process resolved; Vedanta bags Electrosteel
Wed, Apr 18, 2018
An operational creditor of Electrosteel, SRG Earth Resources contested that resolution professional has not admitted its full claim. Its demand was also rejected.
Resolution of twin balance sheet problem to take 6-9 months, says Assocham
Sun, Apr 15, 2018
Assocham also said the process of resolution of the companies under Insolvency and Bankruptcy Code (IBC) reference would gather pace in the coming months. Twin balance sheet problem refers to the stress on balance sheets of banks due to non-performing assets (NPAs) or bad loans on the one hand, and heavily indebted corporates on the other
Bank NPAs crisis: Govt hopes to get just half of Rs 9.5 lakh crore back
Thu, Apr 05, 2018
The government on Wednesday said that it is hopeful of getting Rs 4 lakh crore back into the system out of a total of Rs 9.5 lakh crore that has been locked up in the non-performing assets (NPAs) accumulated by the banks.
Insolvency law committe to finalise report this month for proposed amendments to Insolvency and Bankruptcy Code
Thu, Mar 22, 2018
Insolvency Law: The basic structure of the IBC will not be disturbed and "targeted amendments" will be carried out. It would also address all "unintended consequences" with respect to implementation of this law, the official said. Without elaborating on the proposed changes, the official said there would be "something for home buyers also".
RBI’s new framework brings one ‘gateway’ for NPA resolution
Tue, Feb 13, 2018
Gross NPAs of banks continue to increase by 34.5% in Q3-FY18 on top of 59.3% last year, while NPA ratio touched 9.45% from 8.34% in December 2016.
Bad loan resolution: RBI does away with JLR, notifies revised framework under IBC
Tue, Feb 13, 2018
The Reserve Bank of India today came out with a revised framework for expeditious resolution of bad loans, harmonising the existing guidelines with the norms specified in the Insolvency and Bankruptcy Code (IBC).
IBC a helping tool for twin balance-sheet, investment crisis: Economic Survey
Mon, Jan 29, 2018
The issue of twin balance-sheet and low private investment due to banks' stressed assets and over-leveraged corporate books hampering the growth prospects.
NPAs to rise to Rs 9.5 lakh crore by March-end: Report
Mon, Jan 22, 2018
India's banking sector will be saddled with gross non-performing assets (GNPAs) worth a staggering Rs 9.5 lakh crore by March-end, up from Rs 8 lakh crore in the year-ago period, a report said today.
India Ratings projects economic growth at 7.1% next fiscal
Thu, Jan 18, 2018
India Ratings and Research today projected the country's economic growth to improve to 7.1 per cent next fiscal from 6.5 per cent this year, buoyed by robust consumption demand and low commodity prices.
Lok Sabha passes amendment in Bankruptcy code
Sat, Dec 30, 2017
IBC was introduced in 2016, with an aim to find a time-bound resolution on companies that have become insolvent and to protect the interest of creditors.
Turnaround saga of Bengal Chemicals and Pharmaceuticals, HSCL
Mon, Dec 25, 2017
Bengal Chemicals made profits after 63 years in FY17, while NBCC expects minimum 12-15% topline growth in next 2-3 years for HSCL
NPA issue: Can IBC help govt, RBI to deal with the problem?
Fri, Dec 22, 2017
RBI is also identifying wilful defaulters for IBC resolution under the National Company Law Tribunal (NCLT). So far, it has identified 40 wilful defaulters of banks in two lists.
Insolvency law panel seeks suggestions from stakeholders
Thu, Dec 14, 2017
A large number of cases have been filed under the Insolvency and Bankruptcy Code (IBC) which became operational in December 2016. The law provides for a market-determined and time-bound insolvency resolution process.
India growth to normalise in next four to six quarters, says Standard Chartered
Thu, Dec 14, 2017
The report said that economic growth has bottomed out after slowing to a 13-quarter low of 5.7% in April-June 2017, but predicted growth recovering further to 7% over the next few quarters (6.3% in July-September 2017), supported by several factors.
Govt has not waived any loans of corporates, says FM Jaitley
Tue, Nov 28, 2017
Jaitley said that over the last few days, a rumour is being propagated regarding waiver of loans of capitalists by banks. Time has come for the nation to be apprised of facts in this regard.
Second list of defaulters out; RBI hope lenders file for IBC on their own without regulatory directions
Fri, Sep 08, 2017
Acharya said, " The Reserve Bank has now advised banks to resolve some of the other accounts by December 2017; if banks fail to put in place a viable resolution plan within the timelines, these cases also will be referred for resolution under the IBC."
Bankruptcy code can help deepen bond markets: Ajay Tyagi
Sat, Aug 19, 2017
The bankruptcy law was enacted to ensure time-bound settlement of insolvency and enable ease of doing business as the bad loans in the banking system has touched the roof.
NPA resolution not to liquidate cos, but to help save them: FM Jaitley
Sat, Aug 19, 2017
Gross NPAs have crossed 9.6 per cent as of March 2017, while the stressed loans ratio is over 12 per cent.
NPA resolution to spur credit expansion, growth: Panagariya
Sun, Aug 13, 2017
Terming the non-performing assets (NPAs) or bad loans problem as a 'legacy issue', Arvind Panagariya said that even after three years of the NDA government taking charge, it has not gone away.