Insolvent Banking

Latest News for: Insolvent banking

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Telco woes: Aditya Birla Grp won’t face fund or bid curbs

The Times of India 08 Dec 2019

The Aditya Birla Group will not be denied bank funds or be barred from bidding for insolvent companies if Vodafone Idea were to default and enter bankruptcy proceedings as there were no corporate or promoter guarantees issued by the conglomerate to the telecom firm, say bankers ... There is no acceleration in the payment of bank debt yet....

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Yes Bank moves in to name wilful defaulters

The Times of India 08 Dec 2019

The wilful defaulters’ tag will make it tough for the Kerkars to borrow from banks and financial institutions ... Yes Bank has the highest exposure to Cox & Kings, having sanctioned a credit of Rs 2,127 crore, according to the lender’s financial claim submission to the tour operator’s resolution professional overseeing the insolvency process....

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IBC process: The multi-layered arbitration mess

Yahoo Daily News 08 Dec 2019

One of the manifestly unfair aspects of the insolvency resolution process-this is not, though, the fault of the Insolvency and Bankruptcy Code (IBC)-has always been the fact that, while various arms of the government don't pay their dues to private firms for a long time, ......

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UAE aims to top World Bank's ease of doing business list in 2021

The National 08 Dec 2019

In a bid to boost competitiveness, the UAE is working on a series of reforms to meet its target of topping the World Bank’s annual ease of doing business ranking in 2021, moving up from the 16th position it currently holds ... Saudi Arabia is top improver in World Bank’s Doing Business report as UAE leads the region....

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Business decisions taken by bank officials won’t be questioned: PM

The Times of India 07 Dec 2019

Prime Minister Narendra Modi has assured bank officials that business decisions taken by them will not be questioned. The government will also release guidelines on the scrutiny of any serving finance or banking expert, he said at an event in Delhi ... “I can happily say today that we took the courage to merge PSU banks....

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Jaypee Infratech lenders to put on vote bids of NBCC, Suraksha simultaneously

Financial Express 07 Dec 2019

Jaypee Infratech went into insolvency process in August 2017 after the NCLT admitted an application by an IDBI Bank-led consortium ... ....

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John Delaney's secret contract, €55m in debt and an uncertain future - the inside story behind the FAI disaster

Irish Independent 07 Dec 2019

Shane Phelan Twitter Email. December 7 2019 2.30 AM. 0 Comments John Delaney's secret contract, €55m in debt and an uncertain future - the inside story behind the FAI disaster ... Email ... Log In ... However, Mr Cooke dismissed suggestions the association was insolvent, insisting it was close to reaching an agreement to refinance its bank debts of around €29m ... ....

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DHFL insolvency process starts, investors' claims sought

Sify 06 Dec 2019

The Reserve Bank of India, filing the application for initiating corporate insolvency resolution process against DHFL, had said there would be a debt moratorium on the company as long as the insolvency process is pending. The apex bank had last month appointed R....

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Goldman could reportedly settle for less than $2 billion following multiple probes over Malaysian investment fund - and that's lower than expected

The Times of India 06 Dec 2019

The bank has been subject to probes by the Justice Department and other federal agencies over its role in raising capital for the now-insolvent fund ... US regulators have been investigating the Wall Street bank's role in raising capital for the now-insolvent Malaysian investment fund between 2012 and 2013....

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Fixed Deposit stuck in DHFL? Check claim process, where to download FD claim form

Yahoo Daily News 06 Dec 2019

On November 29, the Reserve Bank of India had filed an application for initiation of corporate insolvency resolution process against DHFL under the Insolvency and Bankruptcy Code (IBC), 2016. The Administrator has already been appointed to carry out the Corporate Insolvency Resolution Process as required under the law....

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Vodafone Idea will shut in absence of govt relief, says Chairman Kumar Mangalam Birla

Moneycontrol 06 Dec 2019

Birla said the company will have to opt for insolvency route in the absence of relief. Moneycontrol News @moneycontrolcom. Watchlist Portfolio Message Set Alert. live. bselivenselive ... More ... Birla said the company will have to opt for insolvency route in the absence of relief ... RBL Bank raises Rs 2,025cr through QIP ... Can its capital raising rerate RBL Bank?....

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Goldman could reportedly settle for less than $2 billion following multiple probes over Malaysian investment ...

Business Insider 06 Dec 2019

Goldman Sachs could settle for under $2 billion to resolve US probes into the bank's involvement with 1MDB, a Malaysian investment ... The bank has been subject to probes by the Justice Department and other federal agencies over its role in raising capital for the now-insolvent fund....

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Govt won’t raise questions on genuine business decisions taken by banks: PM Modi

Live Mint 06 Dec 2019

Prime Minister Narendra Modi on Friday said the Indian banking sector is “much stronger” than before as a result of the government’s moves to merge and recapitalize banks. “Three-four decades earlier when banks were nationalized, there was a lot of celebration. We found that (having) so many banks has its disadvantages....