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Debt Recovery Tribunal News
Debt Recovery Tribunal
Rotomac a wilful defaulter, recovery process underway
Tue, Feb 20, 2018
Rotomac's Vikram Kothari had established a group company, Rave Entertainment, to set up a multiplex business in cities such as Meerut, Chandigarh, Panipat, Sonepat, Agra and Noida.
RBI to resolve bad loans of nearly 1,500 accounts with PSBs
Mon, Jan 08, 2018
As of September 2017, PSBs' gross non-performing assets (GNPA) stood at Rs 7.34 lakh crore.
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.
First test of India's new bankruptcy law offers cautionary tale
Tue, Jul 11, 2017
In January, Innoventive Industries, a speciality steelmaker based in western India, was forced into the bankruptcy court by its lenders, testing for the first time new insolvency rules that aim to resolve India`s $150 billion bad debt overhang.
RBI's Viral Acharya says immediate need to resolve bad loans
Wed, Feb 22, 2017
"Since the RBI initiated the Asset Quality Review (AQR) of banks in the second half of 2015, it appears that possibly up to a sixth of public sector banks’ gross advances are stressed (non-performing, restructured or written-off), and a significant majority of these are in fact non-performing assets (NPAs)," said Acharya.
Big blow to Vijay Mallya, Karnataka High Court orders winding up of United Breweries Holdings
Tue, Feb 07, 2017
The Karnataka High Court on Tuesday ordered winding up of United Breweries Holdings Ltd (UBHL) for recovering dues payable by the UBHL-promoted defunct Kingfisher Airlines of Vijay Mallya.
Karnataka High Court issues bailable arrest warrant against Vijay Mallya
Fri, Jan 27, 2017
The Karnataka High Court on Friday issued a bailable arrest warrant against Vijay Mallya for allegedly violating an undertaking given by him and his companies not to transfer their equity shares in United Breweries Limited (UBL) to British spirits company Diageo Plc.
Recover Rs 6200 crore from Vijay Mallya, DRT tells bank consortium
Thu, Jan 19, 2017
In November, CBI had initiated an extradition request to bring him back from Britain through a special court in Mumbai.
Respond to banks' plea on $40 million transfer: SC to Vijay Mallya
Wed, Jan 11, 2017
Acting on banks' allegations that liquor baron Vijay Mallya had transferred $40 million (nearly Rs 266.11 crore) to his children in "flagrant violation" of various judicial orders, the Supreme Court (SC) on Wednesday asked him to file his response on the matter in three weeks.
RBI's Financial Stability Report: Recovery of bad loans lowers
Thu, Dec 29, 2016
RBI said that recovery of bad loans from various channels slowed down for PSBs and many Scheduled Commercial Banks (SCBs) as compared to previous years.
Vijay Mallya case: DRT suggest banks to coordinate recovery of Rs 2000 crore parked in courts
Tue, Jun 07, 2016
As of now, there are 27 interlocutory applications pending before the Tribunal.