Creditors

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Creditors - Total results - 19
Public sector banks' merger to act as building block for $5 trillion economy target, says Finance Secretary Rajiv Kumar
Business

Public sector banks' merger to act as building block for $5 trillion economy target, says Finance Secretary Rajiv Kumar

The government on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders

DHFL shares continue to rise after company says working with creditors, stakeholders to avoid haircut; jump 11%
Business

DHFL shares continue to rise after company says working with creditors, stakeholders to avoid haircut; jump 11%

Shares of DHFL rebounded Tuesday by rising over 4 percent after suffering a massive sell-off in the previous day.

DHFL shares rebound after massive selloff,  surge 6% to Rs 51 on BSE; plummeted nearly 30% on Monday
Business

DHFL shares rebound after massive selloff, surge 6% to Rs 51 on BSE; plummeted nearly 30% on Monday

DHFL also said it is in an advanced stage of submitting its resolution plan under the inter-creditor agreement as entered into by banks

NCLAT directs Essar Steel to call CoC meeting to reconsider distribution of funds
Business

NCLAT directs Essar Steel to call CoC meeting to reconsider distribution of funds

The NCLAT on Wednesday asked the resolution professional of Essar Steel to call a fresh meeting of CoC to discuss the distribution of Rs 42,000 crore coming from ArcelorMittal's resolution plan

NCLT rejects Ruias' debt settlement proposal to retake Essar Steel; company hints at challenging verdict
Business

NCLT rejects Ruias' debt settlement proposal to retake Essar Steel; company hints at challenging verdict

If it is not challenged again, this opens the first major victory for the LM Mittal-run ArcelorMittal into the country

Insolvency and Bankruptcy Code: Act has tightened slack loopholes; supporting institutions like NCLTs need of the hour
Business

Insolvency and Bankruptcy Code: Act has tightened slack loopholes; supporting institutions like NCLTs need of the hour

What led to the inception of the IBC was a legal framework for insolvency and bankruptcy which was completely inadequate, ineffective, and plagued with delays

RBI complains too much; its role has been better defined, powers expanded over four years of Narendra Modi govt
Business

RBI complains too much; its role has been better defined, powers expanded over four years of Narendra Modi govt

Historically, finance ministers have sought to accelerate growth and boost credit, while RBI governors have prioritised stability and control of inflation.

Ruias bid to regain Essar Steel with late payment smells of moral hazard; banks and govt must look at non-cooperative behaviour
Business

Ruias bid to regain Essar Steel with late payment smells of moral hazard; banks and govt must look at non-cooperative behaviour

From all indications, the Essar Steel insolvency process shows the Ruias need to be put under a lens.

Govt plans to tighten rule for auditors after instances of misdeeds; to bolster corporate governance framework
Business

Govt plans to tighten rule for auditors after instances of misdeeds; to bolster corporate governance framework

In recent times, some auditing entities as well as auditors have come under the regulatory lens in connection with alleged misdoings at companies as well as for quitting audit work of corporates on various grounds

NCLAT stays proceedings against IL&FS, 348 subsidiaries in 'larger public interest, economy'
Business

NCLAT stays proceedings against IL&FS, 348 subsidiaries in 'larger public interest, economy'

The NCLAT also directed to implead the top five lenders of IL&FS and asked to submit their replies over the government's plea seeking 90 days moratorium.

Insolvency and Bankruptcy Code: There are glaring problems and it isn't only about low valuations
Business

Insolvency and Bankruptcy Code: There are glaring problems and it isn't only about low valuations

Valuers have a greater role to play in asset valuation rather than in share valuation.

Ruchi Soya's lenders to meet today to consider highest bidder Adani Wilmar's Rs 6,000 cr bid
Business

Ruchi Soya's lenders to meet today to consider highest bidder Adani Wilmar's Rs 6,000 cr bid

Ruchi Soya, which is facing insolvency proceedings, has a total debt of about Rs 12,000 crore.

PNB fraud case: Mehul Choksi fears 'mob lynching' in India; files application for cancellation of arrest warrant
Business

PNB fraud case: Mehul Choksi fears 'mob lynching' in India; files application for cancellation of arrest warrant

Mehul Choksi, who is accused of defrauding Punjab National Bank of $2 billion along with his nephew, diamond tycoon Nirav Modi, fled India before the accusations came to light and said in Monday’s application that he could not disclose his location in public because of the threat to his life

Jaypee-home buyers case: SC refuses to take Rs 400 cr from group, wants it to keep Rs 2,000 cr ready before next hearing
Business

Jaypee-home buyers case: SC refuses to take Rs 400 cr from group, wants it to keep Rs 2,000 cr ready before next hearing

You sell your assets. We are not permitting to deposit it. It should be a sizable amount, said SC to Jaypee

Insolvency Code: How Kirusa verdict curtails power of operational creditors, provides relief to debtors
India

Insolvency Code: How Kirusa verdict curtails power of operational creditors, provides relief to debtors

The Insolvency and Bankruptcy Code, 2016 was enacted with the purpose of resolving the position of financially sick companies by either rescuing them or liquidating them.

Jaypee Infratech insolvency: There's a viable solution to home buyers' troubles and it's built in bankruptcy code
Business

Jaypee Infratech insolvency: There's a viable solution to home buyers' troubles and it's built in bankruptcy code

Section 36 mandates all such properties held in trust for third parties will not be part of liquidation

Greece ready to call off referendum, Eurozone finmins to evaluate new proposals
World

Greece ready to call off referendum, Eurozone finmins to evaluate new proposals

Greece leaders pushing new terms for a possible third bailout

Use Married Woman Property Act to safeguard your family's future
Investing

Use Married Woman Property Act to safeguard your family's future

When you buy life insurance under this Act, this ensures that your creditors, even the Income Tax Department does not get hold of this money. None of your creditors, neither banks, nor any kind of court attachments done, can get hold of this money.