All New Delhi can hope for is that next time the Chines comes to collect, Sri Lanka doesn't give up another portion of its sovereign territory, further strengthening the Chinese in India's backyard
China under global pressure to offer relief in debt repayment to coronavirus-hit poor countries: Reports
A payment of an estimated $12 billion due by the end of 2020 has been rescheduled. But over 100 low and middle-income countries will still have to pay a total of $130 billion this year to China
UK court orders Anil Ambani to pay $717 mn to 3 Chinese banks within 21 days; seeking legal advice, says firm
A spokesperson for Anil Ambani said the matter pertains to an alleged personal guarantee for a corporate loan availed by Reliance Communications Limited (RCom) in 2012 for global refinancing.
Anil Ambani's RCom's bankruptcy begins as NCLT allows firm to exclude 357 days spent in litigation; next hearing on 30 May
At the last hearing, RCom had sought 357 days (from 30 May, 2018 to 30 April, 2019) exclusion in the insolvency process citing the stays it had on the process by the NCLAT and the Supreme Court.
Awaiting banks' reply on Reliance Naval resolution plan, vast majority of lenders supportive, says Anil Ambani
In its 12 February circular, the RBI had given banks 180 days starting 1 March, to come out with a resolution plan for stressed companies with exposure over Rs 2,000 crore and above.
China-backed semiconductor fund is nearing $19 billion to support domestic chip business and reduce reliance on imports
China’s industry ministry on 25 April said the fund was raising its second investment round and that it welcomed foreign institutions to take part, without giving details.
Reliance Communications restrained from selling assets after Ericsson moves court to recover unpaid dues
Reliance Communications owed banks $7 billion as of March 2017 when it last made public its debt numbers, and more to vendors.
RCom stock zoomed 35.24 percent to close at Rs 17.27 on BSE helped by fag-end buying. During the day, it rose sharply by 44.94 percent to Rs 18.51
Reliance Communications is currently undergoing strategic debt restructuring, which entails bankers taking majority control of the company, and has time till December next year for sorting out the debt-related difficulties.
Drowning in debt, Anil Ambani's empire has been thrown a 'cheap loan' lifeline by Chinese banks. But going by the experience of other such borrowers, it's a fair bet they will demand their pound of flesh.
Indian companies are turning to Chinese 'policy lenders' for 'cheap loans' to tide over a credit squeeze. But those loans typically come with hidden conditionalities and could compromise Indian interests.