Results for India
- 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
- India’s Top Banker Zeroes In On Corporate Bad Debts
The new chairman of State Bank of India has pledged to crack down on rising levels of corporate bad debt that have alarmed policy makers and foreign investors in Asia’s third-largest economy, the Financial Times reported. Arundhati Bhattacharya took ...
Daily Headline - global.abi.org - 12/09/2013 - 00:30 - 0 comments
- Unitech Tanks 10% After LIC Issues Default Notice
Shares of India realty major Unitech today plunged by nearly 10 per cent amid reports that the company has received a default notice from LIC Housing Finance on a loan taken in 2007 for a luxury housing project in Noida, The Economic Times reported. ...
Daily Headline - global.abi.org - 12/04/2013 - 23:06 - 0 comments