Anil Ambani-led Reliance Group firm Reliance Infrastructure said on Thursday its lenders have signed an inter-creditor agreement (ICA) for the resolution of debt
Have agreed to every condition laid down by Jet Airways' lenders to ensure release of funds for airline, says Naresh Goyal
Jet Airways is set to undergo a debt resolution whereby lenders will take control and also infuse funds worth Rs 1,500 crore
In a bid to facilitate the resolution process under insolvency law, the RBI on Thursday proposed to permit bidders to raise funds through external commercial borrowing for repayment to the existing lenders
IL&FS crisis: Group-level resolution for Rs 91,000 cr debt unlikely, Uday Kotak-led board tells NCLT
"Based on an outreach conducted by the FTA, the initial assessment seems to indicate that currently, the group-level resolution option is unlikely to materialise," the IL&FS board said in its second report on progress and way forward submitted to the NCLT.
In one of the largest debt resolution plans outside the NCLT process, the Usha Martin board had on Saturday signed an agreement with Tata Steel to acquire the Kolkata-based steel and wire rope-maker for a cash consideration up to Rs 4,300-4,700 crore.
IDBI Bank moves NCLT against Reliance Naval to recover dues; firm owes over Rs 9,000 cr to two dozen banks
The Anil Ambani promoted Reliance Naval and Engineering Ltd (RNAVAL) is the first private sector company in India to obtain the license and contract to build warships.
Essar Steel had a debt of Rs 49,000 crore and was referred to NCLT in June last year
The SBI-led consortium of creditors had this week rejected the bids by ArcelorMittal and Numetal -- SPV floated by Russian lender VTB Bank and Rewant Ruia -- finding them ineligible under the IBC (Insolvency Bankruptcy Code) laws that debar related parties from bidding
While 7.5 percent looks achievable it is more likely to be services-driven for at least two more years before investment revives.
Shares of Reliance Communications (RCom) on Wednesday extended their previous session's rally, soaring over 25 percent, as investor sentiment remained buoyant following a revival plan announcement
Announcing the resolution plan, company chairman Anil Ambani told reporters that the new plan has the support of a Chinese lender that had dragged it to the NCLT for dues running into $1.8 billion, and would see RCom bringing down its mountain of debt by Rs 25,000 crore.
As per of its asset monetisation plans, RCom has been working on finding investors or buyers for prime real estate assets in Navi Mumbai and New Delhi