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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 - 22:59 - 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 - 22:46 - 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 - 22:52 - 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 - 21:40 - 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 - 20:08 - 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 - 17:42 - 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 - 21:05 - 0 comments

Bahrain Batelco Says India Ex-Partner Is Bankrupt, Seeks $212 Million Owed

subscribers, a 0.4 percent market share. In February 2012, S Tel was ordered stripped of its licences as part ...

Daily Headline - global.abi.org - 09/01/2014 - 19:41 - 0 comments

Need Strong Insolvency Law To Prevent Fraud: Rajan

The Reserve Bank of India (RBI) is working with the Centre to improve governance in public sector banks, RBI governor Raghuram Rajan said on Wednesday and called for a bankruptcy code to prevent misuse of the system in future. The governor also warned of ...

Daily Headline - global.abi.org - 08/13/2014 - 21:13 - 0 comments

Embroiled In Bribery Case, India's Bhushan Says Servicing Debt

which has its main operations in the eastern state of Odisha, owes net debts of $5.86 billion - eight ...

Daily Headline - global.abi.org - 08/12/2014 - 22:17 - 0 comments

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