India

Results for India

India Shortchanges Its Banks

India needs a strategy to get the government out of banking. Non-performing loans among state-owned banks -- a legacy of India’s socialist past which account for nearly 70 percent of deposits -- have crossed 5 percent of GDP, a Bloomberg View reported. T ...

Daily Headline - global.abi.org - 07/22/2018 - 23:36 - 0 comments

IBBI Working on Cross-Border Insolvency Norms

IBBI Chief M.S. Sahoo on Thursday said the process to put in place a framework for cross-border insolvency cases is under way. The government is keen to introduce a globally accepted and well-recognised cross-border insolvency framework, which would also ...

Daily Headline - global.abi.org - 07/19/2018 - 22:18 - 0 comments

Reliance Plans to Borrow $6 Billion in Consumer Push

Reliance Industries Ltd., India’s second-largest company by market value, plans to raise about 400 billion rupees ($5.8 billion) in fresh debt this financial year as it expands its consumer businesses, according to people familiar with the matter, Bloomb ...

Daily Headline - global.abi.org - 07/19/2018 - 01:29 - 0 comments

Essar Steel Insolvency Case: Aurora Enterprises Would Have No Control Over Firm, Says Numetal to NCLAT

Russia's VTB Capital-backed Numetal on Tuesday said Ruia family scion Rewant will never be in management of Essar Steel even though the rules do not bar blood relations of delinquent promoters from bidding for loan defaulter companies being auctione ...

Daily Headline - global.abi.org - 07/19/2018 - 01:30 - 0 comments

Lenders File Insolvency Plea Against 13 Videocon Units

Lenders to the bankrupt Videocon Industries have filed an insolvency petition against 13 subsidiaries of the Venugopal Dhoot-led company to recover their dues, sources close to the development told FE. Most of these subsidiaries are likely to be admitted ...

Daily Headline - global.abi.org - 07/19/2018 - 01:31 - 0 comments

Hyderabad NCLT Bench Initiates Insolvency Resolution Proceedings Against Ramky Infra, AP HC Suspends Order

The Hyderabad Bench of the National Company Law Tribunal (NCLT) has given its nod for Corporate Insolvency Resolution Proceedings (CIRP) to be initiated against Ramky Infrastructure Ltd, Bar & Bench reported. The company is publicly listed and has a ...

Daily Headline - global.abi.org - 07/19/2018 - 01:33 - 0 comments

Stakeholders Demand Appointment of Insolvency Resolution Entities

The role of insolvency resolution professionals (IRPs) and their ability to handle day-to day affairs of bankrupt companies has come under the spotlight with the NCLT questioning their decisions in a few recent high-profile insolvency cases, The Hindu ...

Daily Headline - global.abi.org - 07/04/2018 - 22:24 - 0 comments

Tata Steel Chairman Says to Help Nearly Double Indian Capacity After ThyssenKrupp Deal

Tata Steel Ltd will be able to nearly double its capacity in India as a deal between its British entity and Germany's ThyssenKrupp will reduce the Indian parent's debt, the chairman of the company said on Monday. Tata Steel and ThyssenKrupp sig ...

Daily Headline - global.abi.org - 07/02/2018 - 23:11 - 0 comments

Bankrupt Indian Companies Are Clogging the Economy—but Now the Clock Is Ticking

Hundreds of companies are headed for bankruptcy proceedings in India, and that’s a good thing. A new bankruptcy code sets a tight timetable for a defaulting company to deal with its debt: If it doesn’t come up with a solution in nine months, the company ...

Daily Headline - global.abi.org - 07/01/2018 - 23:12 - 0 comments

Want Real Stress? Try Bad Loans in India at 20%

Imagine India’s GDP growth had collapsed to 3 percent; inflation was about to hit double digits; exports were tanking; and the country’s twin deficits – in the government’s budget, and in the nation’s current account – were out of control. It’s only when ...

Daily Headline - global.abi.org - 06/27/2018 - 19:33 - 0 comments

Syndicate content