A consortium of banks has applied to the debt recovery tribunal in Delhi seeking to enforce personal guarantees on the promoters of Videocon group, Venugopal Dhoot and his brother Rajkumar Dhoot. Videocon owes these banks Rs 20,000 crore, The Economic Times reported. An application by the State Bank of India that ET has reviewed said it was approaching the tribunal as the Dhoots did not respond to a guarantee invocation notice sent to them. The Dhoots had promised to personally repay the banks if their companies defaulted on the loans, according to the application.

Asia’s corporations, which are enjoying the lowest borrowing costs from the syndicated loan market since the global financial crisis, may soon see higher rates as default risks rise, according to bankers. Surging debt delinquencies in China and India are unnerving lenders and expectations of higher funding costs for banks linked to the London interbank offering rate will prompt them to finally pass some of that onto their clients, Bloomberg News reported.

India’s debt-laden Infrastructure Leasing & Financial Services (IL&FS) said on Monday it received more than a dozen expressions of interest for its stakes in subsidiaries IL&FS Securities Services, and ISSL Settlement & Transaction Services, Reuters reported. IL&FS, a major infrastructure financing and development company, earlier this month started work on plans to sell off assets, part of a wider restructuring of the group after it defaulted on some of its debt.

Singaporean regulators investigating Noble Group Ltd. have focused their questions so far on the company’s use of mark-to-market accounting, according to people familiar with the matter. The struggling commodity trader was thrown into fresh crisis last week after Singapore announced a three-agency probe into Noble’s accounts just days before a marathon $3.5 billion debt restructuring was due to complete, Bloomberg News reported. On Sunday, Noble said it would delay the deadline for that deal to Dec.

Unirule Institute of Economics, a Beijing-based think tank advocating free market policies, “will cease public activities under its name temporarily”, its parent company said. Beijing Unirule Consulting Co Ltd said bit.ly/2BwSir1 on Monday its license was revoked after the company received an "Administrative Penalty Notice" on Oct. 22, Reuters reported.

India’s finance industry is letting a good crisis go to waste by not learning from it. The sudden $12.8 billion bankruptcy of infrastructure lender IL&FS Group, currently sequestered under a government-blessed, out-of-court process, underscores India’s lack of preparedness to handle a big shift in lending in recent years — away from banks, a Bloomberg View reported.

It’s been a tough couple years for Pactera Technology International Ltd. The tech outsourcing arm of embattled Chinese conglomerate HNA Group Co. has been ditched by Bank of America Corp. and Goldman Sachs Group Inc., sued over a collapsed acquisition and cut deep into junk territory by Moody’s Investors Service, Bloomberg News reported.

Noble Group Ltd. extended the deadline for its marathon restructuring until Dec. 11 to address regulators’ concerns, a week after Singaporean authorities began an investigation into the embattled commodity trader’s finances, Bloomberg News reported. The company on Sunday moved the deadline for the $3.5 billion debt restructuring back by two weeks. Noble said that Singapore’s Securities Industry Council extended a key waiver to allow the deadline to be pushed back.

For most of the past 83 years, the directors of the Reserve Bank of India went almost unnoticed as they met for regular board meetings to discuss mostly administrative affairs, the Financial Times reported. But when the 18 central board members filed in for this week’s meeting at the RBI’s Mumbai headquarters, they were the object of a media frenzy, with additional police drafted in to monitor a gaggle of cameramen jostling outside the building’s fortified entrance. For the past month, India’s central bank has been at the centre of a political storm like few others in its history.

Some Chinese developers were quick to complete the bulk of their refinancing early in the year, Bloomberg News reported. Those who waited now risk paying dearly for their tardiness, with borrowing costs doubling since January.