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Total 205 results found. Search for [ wilful defaulters ]

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BusinessToday.In
August 8, 2018
A committee headed by financial services secretary Rajiv Kumar has recommended stopping wilful defaulters with loans exceeding Rs 50 crore from travelling overseas without prior approval.


BusinessToday.In
July 29, 2018
The Home Ministry had constituted a panel to look into the issue of Indian passport holders obtaining duel citizenship as has been the case of fugitive diamantaire Mehul Choksi.


BusinessToday.In
July 18, 2018
The move comes after liquor baron Vijay Mallya, PNB scam accused diamantaire Nirav Modi and Mehul Choksi gave a slip to the authorities.


BusinessToday.in
New Delhi, July 9, 2018
NCLT to pronounce verdict in Ratan Tata-Cyrus Mistry caseThe National Company Law Tribunal (NCLT) will pronounce its judgement on a petition filed by Cyrus Mistry challenging his dismissal as chairman of the Tata Sons. The Board of Tata Sons had abruptly removed Mistry as its chairman on October 24, 2016 and sought his ouster from other group companies. He subsequently resigned from the board of six firms, but dragged Tata Sons and his then interim successor Ratan Tata to the NCLT.PNB's big wilful defaulters' dues fall to Rs 15,354 crore in JunePunjab National Bank's data shows that dues from big wilful defaulters of Punjab National Bank fell by 0.87 per cent to Rs 15,354.52 crore on June 30 compared to previous month. The data on big wilful defaulters is pertaining to those borrowers who took loan of Rs 25 lakh and above from the public sector lender. Such borrowers had an outstanding loan worth Rs 15,490 crore at the end of May 2018. For financial year ended March 2018, the bank's balance sheet had closed with big wilful defaults owing Rs 15,171.91 crore to the bank.Vijay Mallya shrugs off threat of British asset seizuresEmbattled tycoon Vijay Mallya said he will comply fully with court enforcement officers seeking to seize his British assets, but there was not much for them to take as his family's lavish residences were not in his name. The 62-year-old former liquor baron faces charges of fraud in India as a group of banks seek to recover more than $1 billion of loans granted to his defunct Kingfisher Airlines. A verdict is expected by early September.Ministerial group to recommend deferring sops for digital payments under GSTThe Sushil Modi-led ministerial panel will recommend to the GST Council to defer by a year the proposal to incentivise digital payments under GST, citing revenue implications of doling out concessional tax rate. The panel, in its meeting, decided to wait for stabilisation of revenues under Goods and Services Tax and the new return filing systems in the current fiscal before considering differential GST rates for people making payments using the digital mode.GST Council may approve annual returns form on July 21; experts expect reconciliation with ITRThe format for annual returns and audit is likely to be approved by the GST Council in its meeting on July 21 and industry expects that there could be some reconciliation with annual IT returns as the government aims to check tax evasion. Goods and Services Tax (GST) was rolled out on July 1, 2017, and this is the first year when businesses will have to file annual returns (GSTR-9) for 2017-18 fiscal by December 31, 2018.Rupee may fall to 70/dollar mark this week, say bankersContinued strengthening of the US dollar, lack of foreign investment inflows and concerns over rising oil prices are likely to keep the rupee under pressure and push it down to the 70 mark this week, said bankers. They added 69.30 remains a crucial level for the domestic currency, which if breached, could further plumb down to the 70 mark against the dollar. The Reserve Bank of India (RBI), however, will not be comfortable with the currency touching 70 and would strongly defend the same, according to them.


PTI
New Delhi, July 8, 2018
Dues from big wilful defaulters of Punjab National Bank fell by 0.87 per cent to Rs 15,354.52 crore on June 30 compared to previous month, the bank data has showed. Such borrowers had an outstanding of Rs 15,490 crore at the end of May 2018.


BusinessToday.In
June 26, 2018
A week after he became the first person to be tried under India's new Fugitive Economic Offenders Ordinance, the former King of Good Times Vijay Mallya took to Twitter this afternoon to put forth his side of things.


BusinessToday.In
June 26, 2018
In a detailed five-page statement, the beleaguered tycoon claimed that despite making two public offers to settle the pending dues of Kingfisher Airlines, the ED has objected to sale of assets to repay KFA creditors which include public sector banks.


BusinessToday.In
June 22, 2018
The banking sector's bad loan problem as well as the recent instances of bank frauds has seen the investigative agencies unleash a spate of high profile arrests.


PTI
June 17, 2018
The major defaulters included Kudos Chemie - Rs 1,301.82 crore; Kingfisher Airlines Rs 597.44 crore; BBF Industries Rs 100.99 crore; ICSA (India) Ltd Rs 134.76 crore; Arvind Remedies Rs 158.16 crore and Indu Projects Ltd Rs 102.83 crore.


PTI
June 11, 2018



Anand Adhikari
New Delhi, June 11, 2018
The bankruptcy proceedings would force Indian banks to book heavy losses. They are now focussed on mini- mising the damage


PTI
June 4, 2018



PTI
June 4, 2018



Mail Today Bureau
May 24, 2018
The union cabinet on Wednesday approved the promulgation of an ordinance to amend the Insolvency and Bankruptcy Code (IBC) in order to classify homebuyers as financial creditors at par with banks which will enable them to get quick refunds from defaulting builders.


PTI
May 23, 2018



PTI
May 23, 2018



PTI
May 20, 2018



PTI
May 20, 2018
PNB saw wilful defaults by big borrowers slipping further to Rs 15,199.57 crore in April this year over the previous month. Big wilful defaulters are categorised by PNB as those borrowers with loan outstanding of Rs 25 lakh and over.


BusinessToday.In
New Delhi, May 9, 2018
The 62-year-old - who remains on a GBP 650,000 bail bond (over Rs 5.93 crore) since his arrest on an extradition warrant by Scotland Yard last April - is probably plotting the next course of action with his lawyers.


BusinessToday.In
New Delhi, May 7, 2018
Paytm, Flipkart effect! E-commerce market sees M&A deals worth $2.1 bn in 2017According to data from Grant Thornton, India's e-commerce industry inked as much as 2.1 billion dollars worth of merger and acquisition transactions in 2017. The e-commerce industry saw 21 deals worth 2,112 million dollars in 2017 with participation from players like Paytm and Flipkart. However, number of transactions and value was lower compared to 2016 which witnessed deals worth 2,224 million dollars in 18 transactions.   The data showed that six transactions worth USD 226 million were seen in the January-April 2018 period. The industry is expected to witness it's largest-ever deal in 2018. If the Walmart-Flipkart deal goes through, it would be the largest so far in the Indian e-tailing market that is forecast to grow to 200 billion US Dollars by 2026 according to a Morgan Stanley estimate.IMD issues thunderstorm, heavy rain warning in 13 states todayThe Meteorological Department has warned of thunderstorms accompanied with squall, hail and heavy rains that are likely to hit at least 13 states and two union territories on Monday.  The department has issued weather forecast for next five days - May 7 to May 12. According to the forecast, thunderstorm accompanied with squall will hit isolated places over Haryana, Chandigarh and Delhi. Following the forecast, the Haryana government has decided to shut all government and private schools on May.Manipal-TPG revises its bid for Fortis, offers to invest Rs 2,100 croreFortis Healthcare Limited or FHL informed in a filing to BSE that it has received a revised offer from Manipal and TPG. In the new offer, Manipal-TPG has valued Fortis at Rs 8,358 crores and shown interest to invest Rs 2,100 crore into Fortis at a share price of Rs 160. Earlier, Manipal-TPG had valued FHL at Rs 6,322 crore.Manipal-TPG in its revised offer said that the FHL group has short term liquidity concerns and needs funding for repayment of existing loans and payments.I-T Dept questions ICICI Bank CEO Chanda Kochhar's husband Deepak Kochhar in Videocon loan caseThe Income-Tax Department has questioned ICICI Bank CEO and MD Chanda Kochhar's husband Deepak Kochhar as part of its investigation into the Videocon loan case, The Indian Express today reported, citing sources.  According to the report, the I-T Dept is probing investments by two Mauritius-based entities in Kochhar's NuPower Renewables Private Ltd a few weeks before ICICI Bank gave a loan of Rs 3,250 crore to the Videocon Group in 2012. Kochhar was questioned for a few hours on May 4.ED refuses to share details of Nirav Modi & Mehul Choksi's seized assetsThe Enforcement Directorate has refused to disclose under the RTI Act the assets of Nirav Modi and Mehul Choksi seized during its probe into the over $2 billion scam in the Punjab National Bank.However, it had earlier made public on Twitter that assets worth Rs 7,664 crore had been attached in connection with the cases involving the uncle-nephew duo of Modi and Choksi.Big wilful defaulters owe Punjab National Bank Rs 15,172 croreBig wilful defaulters owed Rs 15,171.91 crore in loans to Punjab National Bank at the end of March this year. The data from the bank relates to those wilful defaulters who have taken loans of Rs 25 lakh and above but did not repay despite the ability to do so. The liability on such defaulters rose by 1.8 per cent from Rs 14,904.65 crore in February. The public sector lender has been putting out the names of wilful defaulters and firms since June 2017.


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