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Total 24 results found. Search for [ RBI debt resolution deadline ]

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Nevin John
New Delhi, November 13, 2018
Of the 1198 bankrupt companies admitted for resolution, just 52 are being sold until September end. The liquidation process has started in 212 cases. There are 816 cases pending for resolution.

New Delhi, November 13, 2018
Only four of these cases have been successfully resolved so far, while seven cases remain unresolved even after more than 450 days of being admitted by the NCLT.

New Delhi, October 10, 2018
MV Seshagiri Rao, joint managing director, JSW Steel, yesterday said that the company was seeking legal opinion on whether it would be eligible to bid for Essar Steel together with contenders that had already thrown their hats in the ring: ArcelorMittal, Numetal and Vedanta.
New Delhi, October 4, 2018
The Supreme Court allowed ArcelorMittal and Numetal to submit fresh bids for Essar Steel provided they clear their NPA dues in two weeks.

New Delhi, September 12, 2018
The SC order will also buy the stressed shipping and sugar companies, which had approached the top court against the order, some more time.

New Delhi, September 11, 2018
Numetal's first bid was rejected due to the 25% share owned by Rewant Ruia, the son of Essar Steel founder Ravi Ruia, since he was deemed a related party. JSW Steel bought out this contentious stake ahead of the second bidding round

New Delhi, September 7, 2018
Numetal's first bid was rejected due to the 25% share owned by Rewant Ruia, the son of Essar Steel founder Ravi Ruia, since he was deemed a related party.

Anilesh S Mahajan
New Delhi, September 5, 2018
Thirty-four stressed power sector accounts that defaulted on Rs1.5 lakh crore worth of dues are now before the National Company Law Tribunal - yet again.

New Delhi, August 27, 2018
As per the RBI's February-12 circular, the over 70 defaulting companies had been given six months starting from March, following which financial creditors were supposed to move the NCLT against them.

Anand Adhikari
New Delhi, August 6, 2018
It has not given bankers the realisations they had hoped for. Now the government has unveiled a new approach even while they are modifying the act.

Nevin John
New Delhi, June 16, 2018
Under the Insolvency and Bankruptcy Code, the sale process has almost been completed in three cases -- Bhushan Steel, Electrosteel Steels and Monnet Ispat and Energy. There is less clarity in the other cases when the 270 day timeframe for resolution ends around now.

New Delhi, April 20, 2018
Both the petitioners, Numetal and ArcelorMittal, welcomed the verdict for the prize is a big one, despite the fact that Essar Steel boasts the third biggest debt pile (over Rs 44,000 crore) among the initial 12 companies identified by the RBI for insolvency proceedings.

New Delhi, April 5, 2018
In a recent interview, Rajnish Kumar, Chairman, State Bank of India (SBI), admitted that it is not the best of times to be a banker, but is optimistic about the future - especially with the clock ticking down to the deadline for the first 12 beleaguered companies referred by the RBI to the National Company Law Tribunal.

New Delhi, March 21, 2018
Last month, the RBI completely revamped the NPA resolution framework. It not only ditched all its past schemes for dealing with bank bad loans but also implemented stricter timelines for implementation of resolution plans.

Nevin John
New Delhi, February 26, 2018
When the UK-based Liberty House questioned the rejection of its bid for Bhushan Power and Steel, the promoter holding firm of Binani Cement challenged the liquidation value set by Interim Resolution Professional (IRP).

February 20, 2018
February 12, 2018
The deadline for submitting bids for the beleaguered Essar Steel, put up for sale under Insolvency and Bankruptcy Code (IBC), ends today and it's reportedly looking like a tug of war between the Ruias and L.N. Mittal, though Tata Steel is also expected to enter the fray.

Nevin John
New Delhi, February 6, 2018
While ArcelorMittal, Tata Steel and Vedanta draw plans to buy Essar Steel, the Ruia family, too, is looking for a backdoor entry. Can it succeed?

December 13, 2017

Prosenjit Datta
New Delhi, December 11, 2017
For the big 12 debtors that the banks referred to the NCLT at the Reserve Bank of India's (RBI) behest, there is still a fair amount of interest from bidders.

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