Results for India
- India's Biggest Bank Aims To Cut Bad Debt With Huge Online Property Auction
India's largest bank will hold a record online auction this weekend to sell repossessed flats, warehouses and offices worth a total of nearly $200 million as the state lender seeks to chip away at its $10 billion mountain of bad debt, Reuters report ...
Daily Headline - global.abi.org - 03/12/2015 - 22:51 - 0 comments
- India’s Overleveraged Companies Seek New Dawn
India’s legion of heavily indebted companies took heart last week as shares in Suzlon Energy soared nearly a third on news that the ailing wind-turbine manufacturer had sold a 23 per cent stake to Dilip Shanghvi, the billionaire pharmaceutical tycoon, fo ...
Daily Headline - global.abi.org - 02/23/2015 - 00:26 - 0 comments
- Doubts Persist Over India Bank Recap Plan
India’s prime minister Narendra Modi this month unveiled plans to sell down government holdings in public sector banks, potentially injecting Rs1.6tn ($26bn) of capital into the banking system. But many analysts remain doubtful over the viability of the ...
Daily Headline - global.abi.org - 12/28/2014 - 20:46 - 0 comments
- India Paves Way for Loans to Save Billionaire’s Airline
India’s government said banks may be asked to lend as much as 6 billion rupees ($94 million) to billionaire Kalanithi Maran’s SpiceJet Ltd., as the indebted airline seeks investment over the next two months to keep flying, Bloomberg News reported. The lo ...
Daily Headline - global.abi.org - 12/16/2014 - 23:59 - 0 comments
- Hindalco Gears Up For Mega Debt Restructuring
Hindalco is gearing up for a mega debt restructuring drive. CNBC-TV18 learns from sources that over the next one year Hindalco seeks to restructure its debt of Rs 63,000 crore in three phases. Hindalco plans to refinance Rs 6,000 crore debt in the first ...
Daily Headline - global.abi.org - 12/03/2014 - 23:46 - 0 comments
- RBI Plans Greater Flexibility In Rules To Aid Loan Restructuring
The Reserve Bank of India will soon allow banks more flexibility while restructuring corporate loans, The Indian Express reported. Banks will be able to increase their equity holdings above the current cap of 10 per cent in companies undergoing debt ...
Daily Headline - global.abi.org - 12/02/2014 - 23:52 - 0 comments
- Rajan Seeks More Power for India’s Banks Over Big Bad Defaulters
Reserve Bank of India Governor Raghuram Rajan said banks should have more power to recoup money from defaulters to rebalance a system that’s skewed in favor of large companies, Bloomberg News reported. The Indian credit system is unhealthy and rests on a ...
Daily Headline - global.abi.org - 11/25/2014 - 22:40 - 0 comments
- Government Panel Report On Insolvency In Small, Medium Units Likely By Budget Session
A panel set up by the Union finance ministry to help frame a bankruptcy code will submit its suggestions on insolvency in small and medium enterprises (SMEs) by the budget session of Parliament, followed by its report covering the larger corporate sector ...
Daily Headline - global.abi.org - 11/09/2014 - 21:08 - 0 comments
- Banks Step Up Restructuring Of Stressed Assets
Indian banks have only two quarters left to restructure stressed assets without significantly dragging down their profits—a fact that’s prompting banks to step up the recast of loans that may eventually need restructuring, Livemint.com reported. Effectiv ...
Daily Headline - global.abi.org - 10/26/2014 - 18:42 - 0 comments
- Italy's Lucchini To Ask India's JSW Steel To Lift Its Offer
Troubled steelmaker Lucchini said on Tuesday it planned to ask India's JSW Steel to raise its offer of less than $100 million for the Italian company's core assets in Piombino on the Tuscan coast, Reuters reported. Lucchini, Italy's second ...
Daily Headline - global.abi.org - 10/14/2014 - 22:05 - 0 comments