Bankruptcy

Showing of 41 - 60 from 114 results
Bankruptcy - Total results - 114
Power sector NPAs: Govt and banks may have to float AMC/ARC to resolve crisis, says BofAML
Business

Power sector NPAs: Govt and banks may have to float AMC/ARC to resolve crisis, says BofAML

The BofA-ML analysts estimated the total stressed assets in power sector at $51.6 billion, with banks holding a bulk $36.1 billion and dedicated non-bank lenders like Power Finance Corporation and Rural Electrification Corporation having $15.5 billion

Bankers rush to finalise plans to resolve problem of NPAs worth Rs 3.8 trillion ahead of RBI's 27 August deadline
Business

Bankers rush to finalise plans to resolve problem of NPAs worth Rs 3.8 trillion ahead of RBI's 27 August deadline

The RBI circular asks banks to identify projects with even a day's default as stressed assets, and conclude resolution proceedings in 180 days.

Patanjali Ayurved moves NCLT against Ruchi Soya lenders for approving Adani Wilmar's Rs 6,000 cr bid
Business

Patanjali Ayurved moves NCLT against Ruchi Soya lenders for approving Adani Wilmar's Rs 6,000 cr bid

While Adani Wilmar emerged as the highest bidder with a Rs 6,000 crore offer, Patanjali group came second with a Rs 5,700 crore bid.

Govt ready to make more changes, if necessary, to Insolvency and Bankruptcy Code
Business

Govt ready to make more changes, if necessary, to Insolvency and Bankruptcy Code

The Code, which comes under the Corporate Affairs Ministry, has already been amended twice.

Bhushan Power & Steel insolvency: NCLAT allows lenders to meet and finalise bid for the debt-ridden company
Business

Bhushan Power & Steel insolvency: NCLAT allows lenders to meet and finalise bid for the debt-ridden company

Vacating its earlier stay, the appellate tribunal has directed the committee of creditors (CoC) of the company to consider the resolution plans submitted by three firms -- Tata Steel, Liberty House and JSW Steel

NCLAT reserves order on Numetal and ArcelorMittal pleas over debt-ridden Essar Steel bids
Business

NCLAT reserves order on Numetal and ArcelorMittal pleas over debt-ridden Essar Steel bids

Numetal's eligibility is linked to the shareholding of Arora Enterprises Ltd (AEL), (beneficially owned by Rewant Ruia) which has already exited from Numetal.

Essar Steel Insolvency case: Aurora Enterprises would have no control over firm, says Numetal to NCLAT
Business

Essar Steel Insolvency case: Aurora Enterprises would have no control over firm, says Numetal to NCLAT

NCLAT had earlier asked for confirmation that Rewant Ruia as a shareholder of Numetal through AEL does not have a business or financial relation with Ravi Ruia for the purposes of Numetal's bid.

Sheryl Sandberg uses Facebook's woes as lesson for MIT grads; says 'we didn't see all the risks and didn't do enough to stop them'
World

Sheryl Sandberg uses Facebook's woes as lesson for MIT grads; says 'we didn't see all the risks and didn't do enough to stop them'

Facebook executive Sheryl Sandberg didn't shy away from her company's ongoing privacy scandal in a Friday commencement speech at the Massachusetts Institute of Technology. Instead, she turned it into a lesson about accountability.

US lawmakers slam Facebook over data sharing with at least 4 Chinese companies
World

US lawmakers slam Facebook over data sharing with at least 4 Chinese companies

Two key U.S. lawmakers on Wednesday rebuked Facebook Inc for not being more transparent over its data sharing practices after the social media company said it had collaborated with at least four Chinese companies, including a smartphone maker that has raised U.S

Govt move to clear insolvency code amendments  to expedite NPA cases, says FICCI
Business

Govt move to clear insolvency code amendments to expedite NPA cases, says FICCI

The government's decision to approve an ordinance entailing amendments to the Insolvency and Bankruptcy Code will expedite resolution of a large number of cases pertaining to non-performing assets, FICCI said on Thursday

NCLT resolution to settle over Rs 1.6 lakh cr of debt in steel sector: Crisil report
Business

NCLT resolution to settle over Rs 1.6 lakh cr of debt in steel sector: Crisil report

Resolution of insolvency cases in NCLT against the stressed steel companies will settle over half of steel sector's outstanding debt of Rs 3.26 lakh crore, and consolidate the sector further, said a Crisil report

Videocon insolvency: SBI-led lenders drag over a dozen firms of Venugopal Dhoot-run group to bankruptcy court
Business

Videocon insolvency: SBI-led lenders drag over a dozen firms of Venugopal Dhoot-run group to bankruptcy court

The Videocon entities include Century Appliances, PE Electronics, Sky Appliances, Trend Electronics and Value Industries.

Cambridge Analytica and British parent SCL Elections shut down after Facebook scandal drives clients away
World

Cambridge Analytica and British parent SCL Elections shut down after Facebook scandal drives clients away

Cambridge Analytica, the firm embroiled in a controversy over its handling of Facebook Inc user data, and its British parent SCL Elections Ltd, are shutting down immediately after suffering a sharp drop in business, the company said on Wednesday

Cambridge Analytica declares bankruptcy, is shutting down blaming 'unfairly negative media coverage' over Facebook data scandal
World

Cambridge Analytica declares bankruptcy, is shutting down blaming 'unfairly negative media coverage' over Facebook data scandal

Cambridge Analytica, the Trump-affiliated data firm at the center of Facebook's worst privacy scandal in history, is declaring bankruptcy and shutting down. The London firm blamed "unfairly negative media coverage" and said it has been "vilified" for actions it says are both legal and widely accepted as part of online advertising.

NPA crisis: Loans worth Rs 2.72 lakh cr written-off since NDA government took over in 2014; just Rs 29,000 cr recovered
Business

NPA crisis: Loans worth Rs 2.72 lakh cr written-off since NDA government took over in 2014; just Rs 29,000 cr recovered

The problem is that there aren’t enough buyers for stressed assets in India, at prices the banks expect, needed to compensate for their losses.

Sebi to discuss various stock market reforms at board meet tomorrow
Business

Sebi to discuss various stock market reforms at board meet tomorrow

Sebi plans to bring in additional disclosure requirements for listed corporates undergoing insolvency resolution process as well as amend norms pertaining to minimum public shareholding norms and other provisions for such entities

The Weinstein Company files for bankruptcy, dissolves non-disclosure agreements with sexual harassment accusers
Entertainment

The Weinstein Company files for bankruptcy, dissolves non-disclosure agreements with sexual harassment accusers

The Weinstein Company also announced it was releasing any victims of or witnesses to Harvey Weinstein’s alleged misconduct from non-disclosure agreements preventing them from speaking out.

Debt laden RCom files plea in Supreme Court to lift bar on Rs 25,000-cr assets sale deal with Reliance Jio
Business

Debt laden RCom files plea in Supreme Court to lift bar on Rs 25,000-cr assets sale deal with Reliance Jio

Reliance Jio, telecom arm of Reliance Industries (RIL) promoted by Ambani’s elder brother Mukesh, had in December 2017 clinched the deal with Reliance Group to buy debt laden company’s mobile business, towers and optical fibre network.

PNB Scam Exclusive: Nirav Modi, Mehul Choksi siphoned off crores to Belgium, but getting details may take 3-4 years
India

PNB Scam Exclusive: Nirav Modi, Mehul Choksi siphoned off crores to Belgium, but getting details may take 3-4 years

According to sources, Nirav Modi who defrauded Punjab National Bank (PNB) of over Rs 12,000 crore, siphoned off a major chunk of the ill-gotten money into two Belgium-based companies — Nirav Modi Limited (formed on 11 October, 2017) and Nirav Modi Jewels BVBA (formed in 2013)

PNB scam: Nirav Modi's bankrupt Firestar Diamond draws huge buyers' interest even as ED, CBI conduct probe
Business

PNB scam: Nirav Modi's bankrupt Firestar Diamond draws huge buyers' interest even as ED, CBI conduct probe

Investigators have attached or seized assets belonging to Nirav Modi and his companies, Firestar is not named in police complaint.