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BusinessToday.In
June 22, 2018
Back in February, when the Reserve Bank of India introduced its revised framework for resolution of stressed assets, the banking sector and beleaguered companies alike were left shaking.


PTI
June 19, 2018
Patanjali was to submit its revised bid under the Swiss Challenge system by June 16. But it has not yet submitted improved bid to match or better the highest offer of Rs 6,000 crore by Adani Wilmar.


BusinessToday.In
New Delhi, June 18, 2018
According to Jaitley, the 7.7 per cent economic growth in the fourth quarter of 2017-18 'firmly' established India as the fastest growing major economy in the world and the trend is \"likely to continue for the next few years\".


BusinessToday.In
June 18, 2018
NCLT's only success stories so far have seen banks taking a significant hair-cut and settling for recovery of Rs 50,000 crore.


BusinessToday.In
June 18, 2018
Patanjali had the chance to match the offer by June 16 under the Swiss Challenge method. But reports suggest that Patanjali has not revised its offer of Rs 5,700 crore, therefore paving way for Adani Wilmar to takeover Ruchi Soya.


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.


BusinessToday.In
New Delhi, June 15, 2018
JAL has pleaded in the apex court that it wants to revive the debt-ridden subsidiary Jaypee Infra, which will also be in the interest of homebuyers.


BusinessToday.In
New Delhi, June 15, 2018
Of the total NPA write-offs in 2017-18, India's biggest public sector bank SBI alone wrote-off around 25 per cent of the total bad loans at Rs 40,196 crore.


PTI
June 15, 2018
Global ratings agency Fitch today said ICICI Bank and Axis Bank have \"gaps\" in their risk control mechanisms and has revised down its outlook on the latter to negative on sour assets worries.


BusinessToday.In
June 15, 2018
At 1:43 pm, the stock was trading 0.40% higher at 1,011 level.  The stock which opened at 1007.50 level on the BSE rose to its all-time high of 1023.50 on BSE.  The stock has been gaining for the last four days and has risen 3.72% during the period. The stock is up nearly 11% since the beginning of this year and has risen 47.11% during the last one year.


BusinessToday.In
New Delhi, June 14, 2018
Private lender ICICI Bank has dragged infrastructure major Punj Lloyd to National Company Law Tribunal (NCLT) seeking insolvency proceedings against the company under Insolvency and Bankruptcy Code (IBC).


BusinessToday.In
New Delhi, June 14, 2018
Technically, a bad bank is an Asset Reconstruction Company (ARC). Once it is formed, banks divide its assets into two categories -- one with non-performing assets and other risky liabilities and the other with healthy assets, which help banks grow financially.


www.businesstoday.in
June 13, 2018



BusinessToday.In
June 13, 2018
Earlier, it was reported that the creditors committee was not happy with the initial bids where Patanjali was the top bidder with an offer of around Rs 4,300 crore followed by Adani at Rs 3,300 crore.


Anand Adhikari
New Delhi, June 12, 2018
The bankers are not very happy with IBC as resolutions are resulting in huge hair cuts. The IBC will take time to emerge as a value maximiser for banks as they are already facing too many issues on many fronts.


BusinessToday.In
New Delhi, June 12, 2018
According to India Today, a US bankruptcy court has ruled in favour of a plea filed by Punjab National Bank and India's Ministry of Corporate Affairs, to appoint an independent chapter 11 trustee to oversee the functioning of Firestar Diamond and its affiliates Fantasy Inc and A. Jaffe Inc - all entities related to Modi.


BusinessToday.In
June 12, 2018
The stock has been losing for the last nine days and has fallen 27.03% during the period. The Mumbai bench of National Company Law Tribunal (NCLT) admitted the firm under the Insolvency and Bankruptcy code on June 6. Videocon's total debt stood at Rs 18,745 crore as of September 2017, Thomson Reuters data showed.


Team BT
New Delhi, June 11, 2018
For a long time, becoming bankrupt came with a stigma attached to it. However, companies are no longer shying away from coming forward on their own, more than ever before, to embrace liquidation since the inception of  the Insolvency and Bankruptcy Code (IBC) 2016.


Rajeev Dubey
New Delhi, June 11, 2018
A bad bank will not solve the rot in the banking system and it's a bad idea in India's context right now. Else, we'll need a bad bank every 10 years.


www.businesstoday.in
June 11, 2018



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