Loan Default

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Loan Default - Total results - 45
Coronavirus Outbreak: Small business credit worth Rs 2.32 lakh cr at highest risk of default, warns CIBIL
Business

Coronavirus Outbreak: Small business credit worth Rs 2.32 lakh cr at highest risk of default, warns CIBIL

Small business credit of Rs 2.32 lakh crore is at the highest risk of default, and micro enterprises having loan outstanding of less than Rs 10 lakh are the most vulnerable because of the COVID-19 pandemic, a credit information company said on Wednesday

Anil Ambani's Reliance Home Finance defaulted on loan repayment of Rs 40 crore in February: Regulatory filing
Business

Anil Ambani's Reliance Home Finance defaulted on loan repayment of Rs 40 crore in February: Regulatory filing

Of the loan default dated 8 February, 2020, the disclosure of which was made on 10 March to the exchanges, Rs 40 crore is towards principal and Rs 0.08 crore as interest to its lender Punjab and Sind Bank.

Vijay Mallya cannot use pendency of plea to stall insolvency proceedings against him in other jurisdictions: SC
Business

Vijay Mallya cannot use pendency of plea to stall insolvency proceedings against him in other jurisdictions: SC

Vijay Mallya, who is currently in the UK, has been charged by the Enforcement Directorate (ED) with defaulting on bank loans to the tune of Rs 9,000 crore.

SEBI tightens disclosure norms on loan defaults, reduces time for rights issue to bolster capital markets
Business

SEBI tightens disclosure norms on loan defaults, reduces time for rights issue to bolster capital markets

Sebi has made it compulsory for the top 1,000 listed companies to prepare annual business responsibility reports covering their activities related to environment and stakeholder relationships

RBI issues revised guidelines on stress loans, offers 30-day gap for NPA recognition; replaces 12 February circular
Business

RBI issues revised guidelines on stress loans, offers 30-day gap for NPA recognition; replaces 12 February circular

The Reserve Bank Friday issued a new framework for resolution of bad loans, replacing the previous norms quashed by the Supreme Court in April, offering a 30-day gap for stress recognition instead of the one-day default earlier

IL&FS crisis: Auditors have many questions to answer; gravity of offence will determine quantum of action: Govt
Business

IL&FS crisis: Auditors have many questions to answer; gravity of offence will determine quantum of action: Govt

Crisis-hit IL&FS group's debt burden is estimated to be more than Rs 94,000 crore and various entities, including some former officials and auditors, are under the scanner for widespread irregularities and huge loan defaults.

Vijay Mallya extradition case: Arthur Road Jail keeps high security cell ready for liquor tycoon
Business

Vijay Mallya extradition case: Arthur Road Jail keeps high security cell ready for liquor tycoon

Authorities at the Arthur Road prison have kept a high-security cell ready for liquor tycoon Vijay Mallya if he is extradited from UK in connection with loan default cases against him in India

CBI refuses to disclose records on how lookout circular against Vijay Mallya was changed
Business

CBI refuses to disclose records on how lookout circular against Vijay Mallya was changed

The CBI had issued LOC against Mallya calling for his detention if he intends to leave the country or arrive here from abroad but in a surprise move it was diluted asking the immigration authorities to merely inform the agency in case of his travel.

PMLA court rejects Vijay Mallya plea seeking to stay attachment of his assets by Enforcement Directorate
Business

PMLA court rejects Vijay Mallya plea seeking to stay attachment of his assets by Enforcement Directorate

The special court had heard extensive arguments from Mallya's lawyer as well as the ED counsel on his petition seeking a stay on proceedings of the financial crime probe agency against him

NPAs on a decline as loan recovery picking up, says Arun Jaitley after annual PSU banks' review meet
Business

NPAs on a decline as loan recovery picking up, says Arun Jaitley after annual PSU banks' review meet

Jaitley said after the Insolvency and Bankruptcy Code (IBC) came into force, which calls for an auction of assets of loan defaulting entities, recoveries have picked up.

First lookout circular against Vijay Mallya for his detention was not sustainable, needed correction as there was no warrant : CBI
Business

First lookout circular against Vijay Mallya for his detention was not sustainable, needed correction as there was no warrant : CBI

The CBI said on Tuesday that the first look out circular against embattled businessman Vijay Mallya for his detention at airport was not sustainable in law and needed correction as there was no warrant against him at that time.

Power Finance Corp moves NCLT against Rattan India to recover unpaid loans
Business

Power Finance Corp moves NCLT against Rattan India to recover unpaid loans

Rattan India, has defaulted to the tune of Rs 20,000 crore of lenders.

Essar Steel bid: Russia's Numetal raises loan defaults by firms of Lakshmi Mittal's brothers
Business

Essar Steel bid: Russia's Numetal raises loan defaults by firms of Lakshmi Mittal's brothers

Numetal and ArcelorMittal are locked in fierce takeover battle of Essar Steel and two are in the Supreme Court over bidding qualification.

SBI denies laxity on its part in dealing with Vijay Mallya case, says taking proactive measures to recover defaulted amount
Business

SBI denies laxity on its part in dealing with Vijay Mallya case, says taking proactive measures to recover defaulted amount

The comments by State Bank of India (SBI) came after reports suggested that the bank, which was the lead lender to Kingfisher Airlines, was in February 2016 advised to move the Supreme Court to stop Mallya from fleeing the nation but the lenders moved the apex court only after the tycoon had left the country four days later.

Rising fuel prices may lead to commercial vehicle loan defaults, says Fitch Ratings report
Business

Rising fuel prices may lead to commercial vehicle loan defaults, says Fitch Ratings report

Fitch Ratings on Friday said continued rise in fuel prices could impact commercial vehicle operators in the country, leading to auto loan defaults.

Winsome Diamonds fraud case: CBI chargesheets two former CMDs of Canara bank
Business

Winsome Diamonds fraud case: CBI chargesheets two former CMDs of Canara bank

The CBI has filed a chargesheet against two former chairman cum managing directors of the Canara Bank in connection with alleged loan default of Rs 146 crore by Jatin Mehta of Winsome Diamonds

CBI books Gujarat-based firm for defaulting on Rs 82-cr loan from Central Bank of India
India

CBI books Gujarat-based firm for defaulting on Rs 82-cr loan from Central Bank of India

The CBI has booked Gujarat-based Ardor International and its promoters Fenil B Shah and Bharat R Shah in connection with its loan default of nearly Rs 82 crore towards Central Bank of India, officials said on Tuesday.

Allow promoters to bid under insolvency and bankruptcy code if not willful defaulters: Industry body CII
Business

Allow promoters to bid under insolvency and bankruptcy code if not willful defaulters: Industry body CII

The government has prohibited promoters of loan-defaulting companies from bidding under the insolvency process citing ethical reasons.

Rahul Gandhi targets Piyush Goyal for link to company which defaulted on loans, says BJP has come out with another 'magic'
Politics

Rahul Gandhi targets Piyush Goyal for link to company which defaulted on loans, says BJP has come out with another 'magic'

Rahul Gandhi on Tuesday took a dig at the ruling BJP after a news report on a loan defaulter company allegedly associated with Railway Minister Piyush Goyal