Last year, The Economic Times reported that State Bank of India, ICICI Bank and Axis Bank were among the lenders that have sold their portion of the loans of Arch Pharma to JMFARC at less than half the value. JM Financial, which has been aggregating ...and more »
Amid all the hype and popularity of taking over the management of the affairs of the Corporate Debtor under the Insolvency And Bankruptcy Code, 2016 (IBC), a NAVRATNA enterprise has become the first company in India to take over management of a debtor ...
The Financial Resolution and Deposit Insurance (FRDI) Bill is the latest attempt at mopping up the bad loans with which banks are saddled with. Previous attempts to this end have been moderately successful. To recover outstanding loans, a slew of ...and more »
In the impugned order, the NCLT has declared a moratorium i.e. the "calm- period" under the Insolvency and Bankruptcy Code, 2016 ("IBC") and stayed the sale of the asset by a secured lender under the provisions of the Securitisation and Reconstruction ...
As the 400 plus cases under the IBC at the NCLT wind their way through the various stages of the resolution process, banks are increasingly coming to the conclusion that they are in a no-win situation. For the big 12 debtors that the banks referred to ...and more »
The CBI, during the verification of facts, concluded that the bank officials had acted in a hurried manner to “facilitate” Padmini in acquiring the hotel by not following prudent banking practice. Dr. Kathirvel, in his complaint, alleged that the bank ...and more »
Insolvency Information Utilities: The Code proposes for information utilities which would collect, collate, authenticate and disseminate financial information from listed companies as well as financial and operational creditors of companies. An ...and more »
Recently the Insolvency and Bankruptcy Board of India (IBBI) has introduced a new Form F for those who does not fall under the category of Operational Creditor or Financial Creditor to submit their claim before the Insolvency Resolution Professional ...and more »
The data made available by the Finance Ministry GOI, as on 31.03.2017, reveals that State Bank of India (SBI) has largest number of willful defaulters, numbering 1444 involving `20943 crores, against which action under SARFAESI Act has been initiated ...
During the previous trading session, the Nifty index started off with a negative bias and soon extended its losses and ended the session near day's low. The day's action formed a sizeable bear candle, which indicates bear have taken control and, as a ...and more »