Monnet Ispat

New bankruptcy code provisions to deepen losses for banks, says Kotak Securities report

"Promoters of most large steel companies were quite intent to regain control and did appear to offer the most competitive bid during the resolution process but are barred from doing so now," domestic brokerage Kotak Securities said

Insolvency ordinance: Essar Steel, Bhushan Steel, Lanco Infra say not 'wilful defaulters'

The ordinance that comes as a blow to defaulting promoters seeking to reclaim their firms that are under insolvency proceedings, aims at putting in place safeguards to prevent unscrupulous persons from misusing or vitiating the provisions of the IBC

Insolvency code ordinance: Life just got tougher for loan cheats, but there’s a long fight ahead

The promulgation of ordinance can curtail promoter interference to a great extent when banks deal with troubled assets

Sensex rises; banks up as RBI cracks down on large loan defaulters

The Nifty PSU Bank Index gained as much as 0.79 percent, with top lenders State Bank of India up as much as 0.7 percent and Canara Bank Ltd rising as much as 1.8 percent.

NPA problem: Bankers meet begins today, to decide on large loan defaulters

The first set of six troubled accounts are Bhushan Steel (Rs 44,478 cr), Essar Steel (Rs 37,284 cr), Bhusan Power and Steel (Rs 37,248 cr), Alok Industries (Rs 22,075 cr), Amtek Auto (Rs 14,074 cr) and Monnet Ispat (Rs 12,115 cr), a banker said.

NPA crackdown: Read here for financial details of these 12 big loan defaulters likely to go for bankruptcy

Monnet Ispat had a debt of over Rs 10,000 crore while its net worth turned negative to Rs 1,602 crore in FY17

Bank loan stress: 50 corporate loan accounts under close govt watch, says report

The bank loans under scanner include those that have become NPAs and also those restructured as of December 2016

Coal Block Auction: Vedanta bid for 14 blocks; Birla, Adani, Jindal also in fray

Mining baron Anil Agarwal-led Vedanta Group has bid for the most number of 14 coal mines out of 23 on offer in the first round of auction which also have aggressive bids by Aditya Birla Group, Adani and Naveen Jindal group, but was shunned by foreign players.

Serve explanatory memos to firms inactive on coal mines: IMG

The IMG had also recently reviewed the progress of all coal blocks under the CBI scanner in the coal allocation scam.

Govt issues showcause notices to 11 coal firms for delay in production

The firms which were issued notices include Jaiprakash Associates, Birla Corporation, Jindal Steel and Power Ltd (JSPL), NTPC, Monnet Ispat and GVK Power.