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Rolta Bondholders Form Group To Negotiate Restructuring

Rolta India Ltd bondholders are forming a group to negotiate a debt restructuring after the software services provider failed to make interest payments, according to a document seen by Reuters on Friday. Rolta, whose biggest customer is the Indian govern ...

Daily Headline - global.abi.org - 06/19/2016 - 22:07 - 0 comments

RBI’s New Restructuring Tool 'S4A' To Raise Banks’ Moral Hazard Risk

The Reserve Bank of India's (RBI) new restructuring tool unveiled on Monday will raise banks' moral hazard risk because the high debt of these over-leveraged companies means their market capitalisation does not match the haircuts banks are like ...

Daily Headline - global.abi.org - 06/14/2016 - 23:05 - 0 comments

Indian Central Bank Eases Stressed Asset Restructuring Rules

The Reserve Bank of India relaxed guidelines on Monday for lenders restructuring large stressed loans, in a move that could allow banks to more effectively manage bad loans, Reuters reported. Indian banks are grappling with about $120 billion in stressed ...

Daily Headline - global.abi.org - 06/13/2016 - 22:32 - 0 comments

India’s Narendra Modi Defends Efforts to Shake Up Economy

Indian Prime Minister Narendra Modi took on critics who accuse him of failing to pursue “big bang” liberalization measures to revamp his country’s economy, saying he has set a path for accelerated growth that India’s states now need to help navigate. In ...

Daily Headline - global.abi.org - 05/26/2016 - 00:57 - 0 comments

What India’s New Bankruptcy Law Means

India’s Parliament has passed a bankruptcy law that promises to make it easier to wind up a failing business and recover debts in Asia’s third-largest economy, The Wall Street Journal The Short Answer blog reported. The country’s banks are currently ...

Daily Headline - global.abi.org - 05/12/2016 - 20:07 - 0 comments

India To Take On Defaulters As Parliament Approves Bankruptcy Bill

India's upper house of parliament passed a new bankruptcy code on Wednesday, as the opposition swung behind measures to take tougher action against corporate defaulters and help banks recover over $120 billion in troubled loans. Prime Minister Naren ...

Daily Headline - global.abi.org - 05/11/2016 - 22:35 - 0 comments

India's JSW Steel Bids For Tata UK Assets

India's JSW Steel Ltd has bid for the British operations of Tata Steel Ltd, two sources with direct knowledge of the matter confirmed on Tuesday, prompting concerns about its debt levels and putting pressure on its shares, Reuters reported. JSW Stee ...

Daily Headline - global.abi.org - 05/10/2016 - 21:05 - 0 comments

Insolvency Code To Fast-Track 75,000 Cases Pending Before Debt Tribunals

With the Insolvency and Bankruptcy Code inching towards reality, early redress of almost 75,000 cases involving debt of an estimated ₹3.5-lakh crore is what the government and stakeholders expect, The Hindu Business Line reported. While the Debt Reco ...

Daily Headline - global.abi.org - 05/08/2016 - 19:50 - 0 comments

Indian Lower House Backs Bankruptcy Code, Key To Debt Cleanup

India's lower house of parliament on Thursday backed a new bankruptcy code, a crucial step towards establishing a debt resolution regime to strengthen the hands of banks seeking to recover $120 billion in troubled loans, Reuters reported. The Insolv ...

Daily Headline - global.abi.org - 05/05/2016 - 20:46 - 0 comments

India Asks UK To Deport Embattled Tycoon Mallya

India said on Thursday it had asked Britain to deport Vijay Mallya, the liquor tycoon who flew to London last month as bankers pressed him to repay about $1.4 billion owed by his defunct Kingfisher Airlines, Reuters reported. The Ministry of External Aff ...

Daily Headline - global.abi.org - 04/28/2016 - 21:20 - 0 comments

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