Results for India
- India: Has The Strategic Debt Restructuring Experiment Run Aground
It was billed as a powerful tool in the clean-up of bank balance sheets laden with bad loans, but has proved to be a bit of a dud. The strategic debt restructuring (SDR) initiative, which allowed creditors to convert debt into equity and take over the ma ...
Daily Headline - global.abi.org - 08/22/2016 - 06:16 - 0 comments
- Banks Can Now Take Posession Of Collateral In Case Of Loan Default
Banks can confiscate security in case of loan default as President Pranab Mukherjee has given assent to a law aimed at faster recovery and resolution of bad debts, The Indian Express reported. The Enforcement of Security Interest and Recovery of Debt ...
Daily Headline - global.abi.org - 08/18/2016 - 00:00 - 0 comments
- AZB & Partners - Inter Alia - July 2016
In the case of Messer Holdings Ltd. v. Shyam Madanmohan Ruia1, an appeal had been preferred before the Supreme Court (‘SC’) from a decision of the division bench of the High Court of Mumbai (‘Mumbai HC’), which had held that share transfer restrictions a ...
Resource Article - twallace@abiwor... - 08/10/2016 - 11:02 - 0 comments - 1 attachment
- Linklaters and TT&A - Understanding the new Insolvency Code – Part I: Debt restructuring for corporate debtors
This is the first of a two-part series on the new Insolvency and Bankruptcy Code, 2016 of India, which was approved by the Indian parliament in May 2016 and received Presidential assent on 28 May 2016. This note deals with the debt restructuring process ...
Resource Article - twallace@abiwor... - 08/10/2016 - 10:53 - 0 comments - 0 attachments
- Rajan Urges Continued Efforts On Bad Debt In Final Address
Raghuram Rajan, India’s outgoing central bank governor, said in his final monetary policy statement that he was “comfortable” with recent progress made in cleaning up India’s banking system, but urged banks and over-indebted industrialists to keep up the ...
Daily Headline - global.abi.org - 08/09/2016 - 22:41 - 0 comments
- Suzlon To Exit Debt Restructuring By March 2017
India's Suzlon Energy Ltd hopes to exit a process of corporate debt restructuring by March 2017, its chairman said on Thursday, a turnaround for a company that four years ago reeled under heavy debt after an ill-advised overseas expansion, the Eco ...
Daily Headline - global.abi.org - 08/04/2016 - 22:48 - 0 comments
- India Tax-Overhaul Bill Moves Forward
After more than a year of gridlock, the upper house of India’s parliament approved a contentious overhaul of the country’s convoluted tax system, an important step in Prime Minister Narendra Modi’s campaign to modernize Asia’s No. 3 economy, The Wall S ...
Daily Headline - global.abi.org - 08/03/2016 - 23:55 - 0 comments
- Billionaire’s Fund Says India Bad Loan Battle to Outlast Rajan
The head of a credit fund controlled by Indian billionaire Uday Kotak said the government’s push to rid banks of bad loans will outlast the departure of a central bank governor who battled the problem, Bloomberg News reported today. Reserve Bank of India ...
Daily Headline - abi_admin - 07/22/2016 - 12:17 - 0 comments
- Brookfield Teams Up with Indian Lender on Distressed Assets
Asset manager Brookfield has put $1 billion into a joint venture with India’s biggest bank to recapitalise and provide financial support to distressed corporate clients, the Financial Times reported today. The State Bank of India (SBI) announced that ...
Daily Headline - abi_admin - 07/20/2016 - 13:40 - 0 comments
- Banks With Assets No One Wants Undercut India’s Debt Recast Plan
From deodorant makers to steel mills, Indian banks are getting stuck owning assets they are finding hard to sell under a plan where they exchange soured loans for equity, Bloomberg News reported yesterday. India’s banks have converted or are seeking to c ...
Daily Headline - abi_admin - 07/19/2016 - 13:36 - 0 comments