Bankruptcy Proceedings

Allahabad HC order on 12 February circular: Judiciary is finally acknowledging there can’t be exceptions in the fight against NPAs

Banks, in coordination with the central government, needs to find a resolution plan to minimise their losses during the power sector loan resolution process. The sector's problems are not just financial woes.

NCLT asks Reid & Taylor employees' union to present financial details of Hong Kong-based investor

Reid & Taylor India, owned by the Kasliwal family-run S Kumar Group, which is also facing bankruptcy proceedings, owes over Rs 4,100 crore to banks and other lenders.

Troubles mount for Vijay Mallya: After extradition setback, liquor baron set to face bankruptcy proceedings in UK High Court

Vijay Mallya remains on bail after his extradition was recently ordered by Westminster Magistrates' Court in London, an order which now awaits a sign-off by UK home secretary Sajid Javid.

Bankers race to resolve Rs 3.8 trillion bad loans for around 70 accounts as 6-month RBI deadline ends today

Banks are trying to come up with a resolution plan for these accounts as going to NCLT will mean large haircuts.

Insolvency and Bankruptcy amendment bill that seeks to ban wilful defaulters tabled in Lok Sabha

The amended insolvency and bankruptcy law that is being implemented by Corporate Affairs Ministry became operational in December 2016

Our fully sympathy with agitating Noida home buyers: Finance minister Arun Jaitley

Hundreds of home buyers had been left in the lurch after the Allahabad bench of the NCLT last week admitted IDBI's plea for initiating insolvency proceedings against Jaypee Infratech for defaulting on a Rs 526-crore loan

Boris Becker bankruptcy: Why India's rich borrowers often go scot-free despite stringent rules

In India rich borrowers are insulated from bankruptcy proceedings thanks to the veil of incorporation

Sensex rises; banks up as RBI cracks down on large loan defaulters

The Nifty PSU Bank Index gained as much as 0.79 percent, with top lenders State Bank of India up as much as 0.7 percent and Canara Bank Ltd rising as much as 1.8 percent.

Bhushan, Essar Steel among 12 firms being moved to insolvency courts, sources to Reuters

The RBI has yet to officially name any of the 12 companies, which account for about 2 trillion rupees ($31 billion) of India's non-performing loans, or roughly 25 percent of all the country's bad loans.

12 big loan defaulters identified by RBI to be named soon: Finance ministry

"You have got 12 cases that have been identified, the names will be shortly announced, and they account for as much as 25 percent of the bad assets," Finance Ministry's Principal Economic Advisor Sanjeev Sanyal said