Npa Resolution

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

SC scraps 12 February RBI circular: Legal fraternity divided over apex court order on NPA diktat

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

SBI managing director Arijit Basu says resolution soon on stressed power assets worth Rs 17,000 cr

There are about 34 stressed power projects and the combined value of their outstanding loans is about Rs 1.74 lakh crore.

NPA resolution: Sunil Mehta-led panel to issue operational guidelines for inter-creditor agreement

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

NCLAT upholds Bhushan Steel sale to Tata Steel, rejects issues over its ineligiblity

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).

Bad loans crisis: Nearly 24 lenders sign new NPA resolution framework under Project Sashakt

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

IBBI amends norms, notifies procedures for home buyers under insolvency proceedings

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 allots shares worth Rs 7,400 cr to lenders; SBI gets largest chunk

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