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Singh Brothers' Firms Reorganize as Tycoons Wrestle With Debt

Two companies controlled by tycoons Malvinder and Shivinder Singh announced a reorganization as the brothers wrestle with debt and legal tangles, Bloomberg News reported. The Singh brothers’ Religare Enterprises Ltd. announced a shakeup late Tuesday, wit ...

Daily Headline - global.abi.org - 11/15/2017 - 23:39 - 0 comments

Reliance Communications Defaults in High-Profile India Test

The first default on U.S. dollar bonds by an Indian company in 15 months may become a closely-watched test case for how international creditors will fare under the country’s new bankruptcy laws, Bloomberg News reported. Reliance Communications Ltd., the ...

Daily Headline - global.abi.org - 11/14/2017 - 22:54 - 0 comments

Reliance Communications Shares Sink on Missed Debt Repayments

Shares and bonds in Reliance Communications, the struggling telecoms group run by billionaire tycoon Anil Ambani, plummeted to record lows on Monday after the company announced heavy losses over the weekend and confirmed it had missed debt repayments, th ...

Daily Headline - global.abi.org - 11/13/2017 - 23:20 - 0 comments

Reliance Communications Fails to Pay Interest on Dollar Bond

Reliance Communications Ltd., the Indian mobile phone operator controlled by billionaire Anil Ambani, said it isn’t paying a dollar bond coupon, Bloomberg News reported. The failure to honor the obligation marks the company’s first missed interest paymen ...

Daily Headline - global.abi.org - 11/06/2017 - 22:18 - 0 comments

Reliance Communications Jumps 15% on Debt Restructuring Plan

Shares in Reliance Communications jumped as much as 15.6 per cent after the troubled Indian telecom company announced a debt restructuring proposal that would hand a majority equity stake to its creditors, the Financial Times reported. RCom, controll ...

Daily Headline - global.abi.org - 10/31/2017 - 17:05 - 0 comments

Indian Billionaire's Fund Says State Bank Boost Will Help Resolve Loans

The head of a credit fund under Indian billionaire Uday Kotak’s financial group says the government’s pledge of capital for beleaguered state banks could make it easier for distressed funds to buy loans, Bloomberg News reported. The Indian government sai ...

Daily Headline - global.abi.org - 10/30/2017 - 21:29 - 0 comments

Serious Economic Reform is Key to Unlocking India’s Potential

The shine has come off India’s growth. Most countries would crave a growth rate as high as 5.7 per cent, but this is a setback for a country that recently boasted of growth rates higher than China’s. The slowdown exposes underlying fragilities that no tr ...

Daily Headline - global.abi.org - 10/16/2017 - 21:30 - 0 comments

Sagging Growth Complicates India's Bad-Debt Clean Up

Sagging economic growth in India is complicating efforts to clean up a mountain of bad debt at the nation’s banks, Bloomberg News reported. Loans worth 1.7 trillion rupees ($26 billion) have been withdrawn in total since the 2001 inception of the Corpora ...

Daily Headline - global.abi.org - 10/15/2017 - 21:59 - 0 comments

Indian Banks' Failed Collect Call

Every flailing effort by India's banks to catch their breath is pulling them deeper into a morass of bad loans, Bloomberg News reported. The latest crisis has been sparked by the failure of billionaire Anil Ambani's Reliance Communications Ltd. ...

Daily Headline - global.abi.org - 10/03/2017 - 16:39 - 0 comments

Blow for India's RCom as Wireless Unit Merger With Aircel Collapses

Embattled Indian telecom company Reliance Communications Ltd faced another setback on Sunday after a deal to merge its wireless business with smaller rival Aircel was called off, raising fresh doubts around its debt restructuring plans, the Internation ...

Daily Headline - global.abi.org - 10/01/2017 - 18:46 - 0 comments

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