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ABG Shipyard's Corporate Debt Restructuring Fails To Take Off

A 22-member lenders' consortium led by ICICI Bank has failed to agree on a proposal from ABG Shipyard to recast its Rs 11,500-crore loan, a majority of which turned into dud assets on their books, sources said here today, the Economic Times repo ...

Daily Headline - global.abi.org - 03/17/2014 - 00:04 - 0 comments

Indosolar Looks To Restructure Debt As Profits Feel The Pinch

Indian PV manufacturer Indosolar has asked to have its debt restructured because it says low equipment prices mean it is unable to make a profit, PV-Tech reported. In a stock exchange filing last week, the Indian company said one of its plants, a 160MW p ...

Daily Headline - global.abi.org - 03/10/2014 - 21:41 - 0 comments

Sree Metaliks Promoters May Lose Control Over Loan Default

Sree Metaliks, a maker of sponge iron in Odisha, could well be the second company where promoters may end up relinquishing management control over loan default. Agarwals, the founders of the company, face the prospect of losing the company as its key len ...

Daily Headline - global.abi.org - 02/23/2014 - 23:19 - 0 comments

Indian Companies Sell Assets to Ease Debt

Indian firms are selling their assets to raise cash, as banks are tightening the screws on loan repayments to help stem rising bad debt, The Wall Street Journal reported. Several companies sold pieces of their business last year, and bankers say more ...

Daily Headline - global.abi.org - 01/21/2014 - 23:36 - 0 comments

India Savings Deposit Scam Collapse Leaves Thousands Penniless

Sudipta Sen was on the run when police arrested him on April 23 at Hotel Snow Land, a resort with views of the Himalayas in Sonamarg, India, about 2,700 kilometers northwest of his Kolkata base. Sen’s Saradha Realty India Ltd., the anchor of an empir ...

Resource Article - global.abi.org - 01/12/2014 - 22:36 - 0 comments - 0 attachments

HC Relief For Company Against Bank In Loan Default Case

The Bombay high court on Thursday continued an order of interim protection granted earlier to a company against the State Bank of India. The HC restrained the Bank from publishing, photographs, names and addresses of the Petitioners as wilful defaulters ...

Daily Headline - global.abi.org - 01/03/2014 - 02:27 - 0 comments

CCCL Opts For Debt Recast Scheme

Chennai-based Consolidated Construction Consortium Ltd (CCCL) has applied for the Corporate Debt Restructuring Scheme. "The necessary application for the same is being filed with CDR cell for its approval," the company said in a filing to the e ...

Daily Headline - global.abi.org - 01/03/2014 - 02:26 - 0 comments

Lanco Infratech Nears Deal For INR7,500 Crore Corporate Debt Restructuring

India's Lanco Infratech Ltd. is reportedly in the process of signing one of the country's largest corporate debt restructuring deals. The said deal will allow the debt-stricken infrastructure developer to reschedule repayment of as much as INR7 ...

Daily Headline - global.abi.org - 12/29/2013 - 22:28 - 0 comments

Indian Probes Risk Revival of $160 Billion Projects

The decision by India’s top investigating agency to probe a third billionaire-led mining deal in six months puts at risk government efforts to revive $160 billion of stalled projects, Bloomberg News reported today. The Central Bureau of Investigation sai ...

Daily Headline - abi_admin - 12/27/2013 - 10:29 - 0 comments

Bad Bank Loans Behind Much Of India’s Corporate Woes

Both the Reserve Bank of India, the central bank, and State Bank of India, the largest of the big, state-owned banks, are voicing determination to go after recalcitrant borrowers as the volume of problem debts, whether acknowledged or not, continues to g ...

Daily Headline - global.abi.org - 12/19/2013 - 23:31 - 0 comments

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