DHFL has seen a rash of rating downgrades in June after it defaulted on Rs 1,150 crore to its bond-holders due on 4 June.
DHFL lenders meet bondholders, others on inter-creditor pact; agree to present resolution plan within 7 days
DHFL owes nearly Rs 90,000 crore to banks and other financial institutions, according to its FY18 annual report
DHFL crisis: Lenders meeting today to cobble up a resolution plan, still in process of signing inter-creditor agreement
The lenders, which had last met on 1 July, are still in the process of signing an inter-creditor agreement for the company
SC scraps 12 February NPA circular: Govt retains power to direct RBI for referring defaulters to NCLT
The Supreme Court's order quashing the RBI's 12 February circular will give the government discretionary power to issue a direction to the apex bank for referring a defaulting company to the NCLT on case by case basis in public interest, official sources said
Supreme Court scraps NPA circular: Govt, RBI will have to bring new rules, says NITI Aayog CEO Amitabh Kant
The government and the Reserve Bank will have to bring in a new set of regulations to ensure that borrowers repay their debt on time following the Supreme Court striking down an earlier rule of the monetary authority, NITI Aayog chief executive Amitabh Kant said on Wednesday
Legal experts have given mixed views on the Supreme Court judgement quashing the Reserve Bank's circular on bad loan recognition saying while the ruling is a "great" setback for banks, it also offers relief to the troubled companies
There are about 34 stressed power projects and the combined value of their outstanding loans is about Rs 1.74 lakh crore.
The inter-creditor agreement (ICA), under the Project Sashakt, seeks to resolve loans under Rs 50 crore or more which are under consortium lending but under Rs 500 crore
An NCLAT bench headed by Chairman Justice S J Mukhopadhaya rejected the claims of its promoters Neeraj Singal that Tata Steel was ineligible to bid for Bhushan Steel under section 29 A of the Insolvency & Bankruptcy Code (IBC).
ICA to aid banks, financial institutions fighting bad loans that are sniffing at 12 percent of the system, to take concerted efforts towards resolving dud loans under Rs 500 crore.
Project Sashakt: Banks finalise inter-creditor agreement to fast track non-performing asset resolution
The agreement, a part of Project Sashakt, will be taken to boards of respective banks and would be cleared in a couple of days, said PNB non-executive chairman Sunil Mehta
With the amended norms, there is more clarity on procedural requirements for various classes of creditors, including home buyers.
Icra says 70 large accounts need NCLT resolution by September; pegs PSBs' pre-tax loss at Rs 1.2 lakh cr for FY19
These accounts are mainly from the power, engineering, procurement, and construction (EPC) and telecom sectors.
Electrosteel Steels, undergoing the insolvency resolution process, has allotted equity shares worth Rs 7,400 crore to lenders as loan conversion, with SBI getting the largest chunk -- about 37 percent
NPA resolution: Vedanta assumes control of stressed Electrosteel; deposits Rs 5,320 cr in an escrow account
The National Company Law Appellate Tribunal (NCLAT) had allowed Vedanta Ltd to make an upfront payment of Rs 5,320 crore to lenders for acquiring Electrosteel Steels.
Private investment seems poised to rebound with efforts being made for expeditious resolution of bad loans and adequate recapitalisation of public sector banks (PSBs), the Economic Survey said
As per the norms, banks have to maintain a minimum common equity ratio of 8 percent and total capital ratio of 11.5 percent by March 2019.
By creating a culture of inertia when it comes to debt-servicing, the message sent out is that at the end of the day there will be support coming from the government in some form to ensure that the system does not collapse
Banks have been reluctant to resolve NPAs through settlement schemes or sell bad loans with hair cut to asset reconstruction companies for fear of 3Cs -- CBI, CAG and CVC.