Latest News on Debt Resolution
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Debt Resolution - Total results - 10
Feb 07, 2019
RBI permits companies participating in insolvency process to tap ECB routeIn 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
Dec 04, 2018
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.
Sep 24, 2018
Debt resolution: Usha Martin promoters seek clarity on fund use from slump sale to Tata SteelIn 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.
Sep 07, 2018
IDBI Bank moves NCLT against Reliance Naval to recover dues; firm owes over Rs 9,000 cr to two dozen banksThe 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.
Apr 27, 2018
Company law appellate tribunal agrees to hear NuMetal, ArcelorMittal petition in Essar Steel caseEssar Steel had a debt of Rs 49,000 crore and was referred to NCLT in June last year
Mar 23, 2018
Luxembourg-based ArcelorMittal plans to rebid for Essar Steel in second round of biddingThe 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
Jan 29, 2018
Economic Survey: India can leapfrog on growth in services sector, not manufacturingWhile 7.5 percent looks achievable it is more likely to be services-driven for at least two more years before investment revives.
Dec 27, 2017
Reliance Communications shares extend rally, zoom over 25% on revival plan announcementShares 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
Dec 26, 2017
Anil Ambani led RCom announces debt revival plan, ropes in new investor; shares up 35%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.
Nov 20, 2017
RCom's debt resolution: Lenders clear sale of company's Delhi, Chennai asset for Rs 801 crAs 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