Within days of acquiring Essar Steel under an insolvency process, AMNSIL had made an application to the Gujarat Maritime Board requesting that the licence be transferred to them

When asked about what could be the lasting impact once things normalise after COVID-19, Sahoo said necessity is the mother of invention and that the focus is on swift response

The remarks by the International Monetary Fund's Chief Spokesperson Gerry Rice came in response to a question on the recent FDI announcements made by companies like Facebook and Google in India

India Inc. and its lenders are in a legal crisis. Pre-empting a financial meltdown due to the Covid-19 lockdown, the Centre has suspended the Insolvency and Bankruptcy Code for a year

When historians chronicle India's coronavirus-induced business collapses, Biyani's Future Group is unlikely to go unnoticed

Kishore Biyani is staring at a major debt crisis. Here is why the options for the Future Group Chairman are limited

JSW Steel is keen to de-risk its acquisition of Bhushan Power and Steel as it has an expansion plan on cards, and is also facing unprecedented challenges in the steel market

Economic fugitives Mehul Choksi's Gitanjali Gems and Jatin Mehta's Winsome Diamonds are among the top 10 defaulters which also includes ABG Shipyards, Rei Agro and Ruchi Soya

SBI Capital Markets has received 24 applications requesting about Rs 9,875 crore of financing as on July 7, 2020, which are being processed, the finance ministry said in a statement

NCLT observed that the resolution plan submitted by Deccan Venture fulfils all the requirements of regulations of the corporate insolvency resolution process and has been approved by the CoC

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India's improvement in the ranking has been attributed to its REIT framework, Goods and Services Tax, Insolvency and Bankruptcy Code, Benami Transaction Prohibition (Amendment) Act, and online processing of land records

The company is currently under moratorium under the Code (IBC) since November 29, 2019 and hence, it is not in a position to make payment of interest or principal to any of the lenders of the company, including the NCDs holders

The special draft framework recommends that the insolvency procedures against an MSME can only be triggered by the MSME itself and not by any of the creditors

Outstanding loans worth Rs 50,000 crore are attached to hotel real estate. A 50 per cent delinquency would result in Rs 25,000 crore of loans turning bad

With the post-lockdown economy still to pick up, highly leveraged companies are looking at ways to reduce debt

Public Sector Banks will need  anywhere between Rs 75,000 crore to Rs 1 lakh crore of fresh capital from the government. Fresh NPAs means higher provisioning for bad loans , lower profits  and also delayed recovery as bankruptcy code has been suspended. It is time to build capital buffers in PSBs to face covid 19 loan losses. Anand Adhikari, Executive Editor, Business Today explains what needs to be done for Public Sector Banks.Also Read: How retail companies are trying to minimise job losses

MSMEs used bankruptcy proceedings threat as pressure point to force big corporates to not delay payments for supplies

Of this, 1,604 cases have been settled by the tribunals across the country by finding a new buyer, commencing liquidation, or allowing voluntary withdrawals

According to rating agency ICRA, the debt of Future Group's six listed firms increased to Rs 12,778 crore as of September 2019 from Rs 11,463 crore in March 2019