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Edelweiss ARC To File Insolvency Case Against Bharati Defence In NCLT

Edelweiss Asset Reconstruction Co. (ARC) Ltd is planning to file an insolvency case against Bharati Defence and Infrastructure Ltd in the National Company Law Tribunal (NCLT) to pre-empt winding-up petitions by unsecured creditors, said two people famili ...

Daily Headline - global.abi.org - 01/11/2017 - 22:43 - 0 comments

Is India’s War on Cash Paying Off?

India lowered its borrowing plan for the year ending March 31 by 4.2%, in a sign that the government’s crackdown on tax evaders is helping to increase New Delhi’s coffers, The Wall Street Journal reported. The government says it plans to cut the amou ...

Daily Headline - global.abi.org - 01/04/2017 - 20:54 - 0 comments

Sugar Industry Seeks Debt Restructuring, Loans Rescheduling

Reeling under a huge debt burden of Rs 50,000 crore, the sugar industry today asked the government to restructure debt and extend interest subvention on soft loans for another three years, the Business Standard reported. A representation in this rega ...

Daily Headline - global.abi.org - 01/04/2017 - 20:55 - 0 comments

New Insolvency Regime: NCLT Rings An Early Warning

Demonetisation has gripped India’s collective mind; and its banks’ attention of late, livemint.com reported in a commentary. Nevertheless, in the year past, much has transpired on the insolvency reform front, including a new Insolvency Code and asset rec ...

Daily Headline - global.abi.org - 01/03/2017 - 22:47 - 0 comments

Inside India’s Unprecedented Assault on Cash

Early last month, Prime Minister Narendra Modi summoned his cabinet to a room in India’s capital, told them to leave their cellphones outside and delivered a shocker: He was about to go on national television to declare that almost 90% of the country’s p ...

Daily Headline - global.abi.org - 12/12/2016 - 20:46 - 0 comments

India’s RBI Surprises Markets by Keeping Rates Unchanged; Slashes Growth Outlook

rate by at least 0.25 percentage point. The central bank was expected to act to mitigate the impact of ...

Daily Headline - global.abi.org - 12/07/2016 - 20:01 - 0 comments

India Grapples With The Effects Of Withdrawing 86% Of Cash In Circulation

A new strain of trickle-down economics has been spawned by the decision, on November 8th, to withdraw the bulk of India’s banknotes by the end of this year, The Economist reported. As holders of now-useless 500-and 1,000-rupee ($15) notes rushed to d ...

Daily Headline - global.abi.org - 11/25/2016 - 00:57 - 0 comments

Insolvency And Bankruptcy Code May Help Unlock Rs 25,000 Crore Bad Loans

Effective implementation of Insolvency and Bankruptcy Code can potentially release about Rs 25,000 crore of capital over the next 4-5 years currently locked in bad loans, according to a report. "If implemented successfully, the code will help India& ...

Daily Headline - global.abi.org - 11/21/2016 - 20:59 - 0 comments

How India Plans to Wipe Out ‘Black Money’

86 percent of the currency in a country where 78 percent of financial transactions are done in cash. ... largest bills — of 500 rupees, or about $7.50, and 1,000 rupees — which account for about 86 percent of ...

Daily Headline - global.abi.org - 11/14/2016 - 21:04 - 0 comments

India: Has The Strategic Debt Restructuring Experiment Run Aground

It was billed as a powerful tool in the clean-up of bank balance sheets laden with bad loans, but has proved to be a bit of a dud. The strategic debt restructuring (SDR) initiative, which allowed creditors to convert debt into equity and take over the ma ...

Daily Headline - global.abi.org - 08/22/2016 - 05:16 - 0 comments

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