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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

India’s Narendra Modi Seeks to Realise Long-Awaited Tax Reform

India begins its four-week monsoon session of parliament today, with prime minister Narendra Modi’s government hoping to move ahead with long-awaited tax reforms to turn the country into a genuine single market, the Financial Times reported today. Th ...

Daily Headline - abi_admin - 07/18/2016 - 12:09 - 0 comments

Essar Steel Lenders May Invoke S4A Norms For Restructuring Debt

Lenders to Essar Steel Ltd have started discussions to restructure the company’s debt after it failed to meet a June-end deadline to find a buyer, said two people aware of the development. The debt-laden company has been looking for a buyer since Novembe ...

Daily Headline - global.abi.org - 07/05/2016 - 23:04 - 0 comments

India’s RBI Warns On Rise In Bad Loans

India’s central bank has warned that bad loan ratios will continue to rise this year, raising pressure on the government to expand its planned recapitalisation of the banking sector, the Financial Times reported. India’s state-owned banks, which acco ...

Daily Headline - global.abi.org - 06/29/2016 - 20:14 - 0 comments

AZB Partners Inter Alia April 2016

The Companies (Amendment) Bill, 2016 (‘Bill’) was introduced in the Lok Sabha on March 16, 2016, to amend the Companies Act, 2013 (‘Companies Act’), pursuant to the recommenda- tions of the Companies Law Committee in its report dated February 1, 2016. In ...

Resource Article - twallace@abiwor... - 06/28/2016 - 15:07 - 0 comments - 1 attachment

Regulatory Framework on FDI in E-Commerce

With the stated aim of clarifying the foreign direct investment (‘FDI’) regime for e-commerce activities, the Department of Industrial Policy and Promotion (‘DIPP’) has issued Press Note No. 3 (2016 Series) on March 29, 2016 (‘Press Note’). Prior to the ...

Resource Article - twallace@abiwor... - 06/28/2016 - 15:03 - 0 comments - 1 attachment

The Insolvency and Bankruptcy Code, 2016

Legislative Background of the Bankruptcy Code The Finance Minister, Mr. Arun Jaitley, in his Budget Speech 2015-16, had identified ‘Bankruptcy Law Reforms’ as a key priority for improving the ease of doing business and had announced that a comprehensiv ...

Resource Article - twallace@abiwor... - 06/28/2016 - 13:36 - 0 comments - 1 attachment

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

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