Latest News for: Insolvent banking

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Record Zimbabwe debts to Equatorial Guinea

Afrol News 28 Feb 2021
As the Reserve Bank of Zimbabwe at the end of the year announced its need for refinancing, the extent of the bank's debts was publicly known ... Currently, the Reserve Bank of Zimbabwe is insolvent and is asking the Harare Finance Ministry to take over its large and unsustainable debt burden.
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Reviving private sector investment more important than FDI: Birla

Business Line 27 Feb 2021
“I would term this Union Budget 2021 as the new 1991 in terms of reforms ... The Insolvency Code can solve the NPA problems of banks and the national infrastructure pipeline can build physical asset leading to multi-decadal growth,” he said at Asia Economic Dialogue 2021 on Saturday ... ....
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Recent govt reforms to help drive economic growth: Birla

Yahoo Daily News 27 Feb 2021
Read full article. 27 February 2021, 5.57 pm·2-min read ... 'I';d say in fact that the plumbing has already been done ... He said the new framework of asset reconstruction for example, the entire insolvency regime, will go a long way in solving the NPA problem both of banks and as corporates, which in any case, is looking much better ... PTI SM MR ... .
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DHFL stock hits upper circuit on filing application with NCLT for submission of resolution planThe ...

Deccan Herald 26 Feb 2021
Pursuant to the receipt of no objection from Reserve Bank as per Insolvency and Bankruptcy Rules, 2019, the administrator of DHFL has filed an application for submission of resolution plan of Piramal Capital & Housing Finance Limited ...
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DHFL stock hits upper circuit on filing application with NCLT for submission of resolution plan

Yahoo Daily News 26 Feb 2021
Pursuant to the receipt of no objection from Reserve Bank as per Insolvency and Bankruptcy Rules, 2019, the administrator of DHFL has filed an application for submission of resolution plan of Piramal Capital & Housing Finance Limited (PCHFL) with the adjudicating authority NCLT, Mumbai Bench, DHFL said in a regulatory filing on Thursday.
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Sasakawa-India case on DHFL: Delhi HC issues notices to RBI, Union of India, others

Business Line 26 Feb 2021
The Delhi High Court, on Thursday, issued notice to the Reserve Bank of ... It has sought relief for setting aside the fixed deposit amount based on the same relief given to the National Housing Bank, and has sought that the funds should not be made part of the insolvency process.
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People: DLA Piper; Womble Bond Dickinson; ROCOL; and more

The Business Desk 26 Feb 2021
She has extensive experience working for stakeholders on a variety of complex cross-border restructuring and insolvency matters. She also has experience in cross-border banking and finance transactions, including leveraged finance, real estate finance and special situations financings ...It’s fantastic to welcome Izzie to the team ... Drylie said ... ... ....
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DHFL resolution: Company receives no objection from RBI, files application with NCLT

The Times of India 26 Feb 2021
Pursuant to the receipt of no objection from Reserve Bank of India as per Insolvency and Bankruptcy Rules, ... In November 2019, the Reserve Bank had referred DHFL, the third-largest pure-play mortgage lender, to the National Company Law Tribunal (NCLT) for insolvency proceedings.
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DHFL resolution: Co receives no objection from RBI, files application with NCLT

Yahoo Daily News 25 Feb 2021
Pursuant to the receipt of no objection from Reserve Bank of India as per Insolvency and Bankruptcy Rules, ... In November 2019, the Reserve Bank had referred DHFL, the third-largest pure-play mortgage lender, to the National Company Law Tribunal (NCLT) for insolvency proceedings.
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CIBC CEO says mortgage market and cash-back credit cards helped in Q1 profit beat

North Shore News 25 Feb 2021
Provisions for credit losses amounted to $147 million, down from $261 million a year ago, as the bank improved its economic outlook ... Beber said that the bank has seen lower insolvencies over the past two quarters amid government supports and bank relief programs, but that there has been a slight uptick from fourth-quarter lows.
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SAT stays Sebi order against HDFC Bank in BRH Wealth Kreators case

Business Line 22 Feb 2021
The Securities Appellate Tribunal (SAT) has stayed a Sebi order which imposed a fine of ₹1 crore on HDFC Bank for invoking securities pledged by stock broker BRH Wealth Kreators, till further orders ... It is not a case where the bank will run away or will become insolvent, it added.
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SAT stays Sebi's order against HDFC Bank in BRH Wealth Kreators case

The Times of India 22 Feb 2021
The Securities Appellate Tribunal (SAT) has stayed a Sebi order which imposed a fine of Rs 1 crore on HDFC Bank ... It is not a case where the bank will run away or will become insolvent, it added ... It noted that "at some length prima facie we find that an ex parte restraint order dated October 7, 2019 does not operate against the appellant (HDFC Bank)".
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