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Need Strong Insolvency Law To Prevent Fraud: Rajan

The Reserve Bank of India (RBI) is working with the Centre to improve governance in public sector banks, RBI governor Raghuram Rajan said on Wednesday and called for a bankruptcy code to prevent misuse of the system in future. The governor also warned of ...

Daily Headline - global.abi.org - 08/13/2014 - 22:13 - 0 comments

Embroiled In Bribery Case, India's Bhushan Says Servicing Debt

which has its main operations in the eastern state of Odisha, owes net debts of $5.86 billion - eight ...

Daily Headline - global.abi.org - 08/12/2014 - 23:17 - 0 comments

India Regulator Approves REIT Rules

India's capital markets regulator yesterday approved rules for the creation of real estate investment trusts and infrastructure-investment trusts in the country, the Wall Street Journal reported today. The step comes a month after Finance Minist ...

Daily Headline - abi_admin - 08/11/2014 - 12:40 - 0 comments

India's RBI Leaves Key Rate Unchanged as It Continues to Monitor Inflation

by 0.50 percentage point to 22 percent with effect from the two weeks starting on Saturday. Read ...

Daily Headline - abi_admin - 08/05/2014 - 13:00 - 0 comments

Hidden Assets Seen Worth $2 Trillion Targeted by India

India’s new Prime Minister Narendra Modi didn’t waste much time: Among his first acts on his first day in office was to make it a priority to recover billions of dollars stashed overseas to avoid taxes, Bloomberg News reported. Within 24 hours of his May ...

Daily Headline - global.abi.org - 06/08/2014 - 21:06 - 0 comments

India's New Bank Insolvency Law To Increase Yields

India has proposed a framework for the bankruptcy of financial institutions that will align the country with international standards, Reuters reported. Analysts suggested, however, that the regulation will increase the cost of senior funding for Indian b ...

Daily Headline - global.abi.org - 05/26/2014 - 21:54 - 0 comments

Suzlon Announces Cashless Restructuring Of FCCBs Worth $485 Million

Suzlon Energy Ltd, the world’s fifth largest wind turbine maker, announced on Saturday a cash-less restructuring of its existing foreign currency convertible bonds (FCCBs) worth $485 million for five years, after nearly two years of complex negotiations ...

Daily Headline - global.abi.org - 05/05/2014 - 22:55 - 0 comments

ABG Shipyard's Corporate Debt Restructuring Fails To Take Off

A 22-member lenders' consortium led by ICICI Bank has failed to agree on a proposal from ABG Shipyard to recast its Rs 11,500-crore loan, a majority of which turned into dud assets on their books, sources said here today, the Economic Times repo ...

Daily Headline - global.abi.org - 03/17/2014 - 00:04 - 0 comments

Indosolar Looks To Restructure Debt As Profits Feel The Pinch

Indian PV manufacturer Indosolar has asked to have its debt restructured because it says low equipment prices mean it is unable to make a profit, PV-Tech reported. In a stock exchange filing last week, the Indian company said one of its plants, a 160MW p ...

Daily Headline - global.abi.org - 03/10/2014 - 21:41 - 0 comments

Sree Metaliks Promoters May Lose Control Over Loan Default

Sree Metaliks, a maker of sponge iron in Odisha, could well be the second company where promoters may end up relinquishing management control over loan default. Agarwals, the founders of the company, face the prospect of losing the company as its key len ...

Daily Headline - global.abi.org - 02/23/2014 - 23:19 - 0 comments

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