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Educomp Lenders Looking At Strategic Debt Restructuring

Lenders to digital education provider Educomp Solutions Ltd are mulling conversion of debt to a majority equity holding under the strategic debt restructuring (SDR) scheme, two bankers in the know confirmed. “Bankers will be conducting a meeting in the s ...

Daily Headline - global.abi.org - 01/05/2016 - 22:39 - 0 comments

Indian Lending Growth Slows Amid Rising Risks to Banks, RBI Says

Loan growth at Indian banks slowed in the six months through September while bad loans rose, signaling increased risks to lenders, the Reserve Bank of India said in a report, Bloomberg News reported yesterday. "Risks to the banking sector increased ...

Daily Headline - abi_admin - 12/24/2015 - 10:57 - 0 comments

India Delays Bankruptcy Law, Fails to Break Deadlock on Tax

Indian lawmakers sent a proposed bankruptcy law for review today, closing off a raucous parliament session without transacting any major legislative business including a signature reform on state taxes, Reuters reported. The bankruptcy law is aimed at un ...

Daily Headline - abi_admin - 12/23/2015 - 11:41 - 0 comments

India Introduces Bill for Bankruptcy Law in Parliament

The Indian government yesterday introduced a bill in parliament aimed at bringing sweeping changes to an outdated and overburdened bankruptcy system, setting deadlines for the first time for processing insolvency cases, Reuters reported. At present, Asia ...

Daily Headline - abi_admin - 12/22/2015 - 13:20 - 0 comments

How Filing For Insolvency May Get Easier For Banks With A New Bankruptcy Law

If General Motors can continue selling its Chevrolet brand of cars even after filing for the biggest industrial bankruptcy in the world in 2008, why is that Kingfisher Airlines is not flying, nor are its bankers able to recover dues from it despite promo ...

Daily Headline - global.abi.org - 12/15/2015 - 22:07 - 0 comments

Fixing Bankruptcy, Insolvency Laws

The Bankruptcy Law Reforms Committee (BLRC), while submitting its report to the government earlier this month, had recommended the need for a single code to resolve insolvency for all companies, limited liability partnerships, partnership firms and indiv ...

Daily Headline - global.abi.org - 11/22/2015 - 18:47 - 0 comments

Strategic Restructuring Option On The Table At Essar Steel

Creditors of integrated steel producer Essar Steel Ltd may consider conversion of debt into equity under the strategic debt restructuring (SDR) route should the company not succeed in its attempt to monetize assets or bring on board a strategic investor, ...

Daily Headline - global.abi.org - 11/18/2015 - 22:59 - 0 comments

India Moves Towards Long-Awaited Bankruptcy Reform With Draft Bill

India's government on Wednesday published long-awaited proposals to overhaul an outdated and overburdened bankruptcy process, calling for public comment on what could become the country's first unified bankruptcy code. The proposed bill aims to ...

Daily Headline - global.abi.org - 11/04/2015 - 21:13 - 0 comments

Bond Default Complicates Things For Amtek

After its bond payment default, Amtek Auto is likely to find it difficult to get more funding from lenders, the Business Standard reported. Loans given earlier to the Delhi-based automobile components maker are now classified as Special Mention Accou ...

Daily Headline - global.abi.org - 09/23/2015 - 21:10 - 0 comments

Bhushan Steel Gets Lenders Nod for Rs 30,000-Crore Loan Restructuring

Bhushan Steel Ltd (BSL) has received lenders' approval for long-term restructuring of about Rs 30,000 crore loans under a scheme of Reserve Bank of India. The Joint Lenders Forum (JLF) has agreed to extend the loans of BSL for a tenure of 25 years u ...

Daily Headline - global.abi.org - 07/08/2015 - 17:19 - 0 comments

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