Insolvent Banking

Latest News for: Insolvent banking

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Helping breast cancer patients overcome barriers to treatment

The Star 16 Nov 2018

Nalini lost her home and was blacklisted by the bank ... But because she could not open a bank account, she could not bank in the cheques ... We contacted the bank and worked with Insolvency Malaysia and lawyers to appeal to the High Court for special consideration, given her medical situation....

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Markss Infotech files insolvency petition against Reliance Naval

DNA India 15 Nov 2018

Notably, IDBI Bank limited has also dragged the shipbuilder to the bankruptcy court for loan default ... Anil Ambani AHMEDABAD RFID IDBI Bank National Company Law Tribunal Vishal Dave NCLT Insolvency and Bankruptcy Code Reliance Naval and Engineering radio frequency identification reliance naval Markss Infotech insolvency petition Section 9....

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Hyderabad High Court: Anrak Aluminum Limited will have to face NCLT process

Deccan Chronicle 15 Nov 2018

... Rs 1,275 crore to the consortium of banks as a one-time settlement ... Counsel for Anrak said that the bank consortium would also not benefit with the process of insolvency before the NCLT....

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Ease of Doing Business ranking: India needs to exhibit more regulatory, governance and financial reforms to investors

Yahoo Daily News 15 Nov 2018

Resolving insolvency ... This issue pertaining to the homebuyers in the Code was recognised by the apex court in the insolvency case against Jaypee Infratech Ltd ... Further, financial services fall outside the ambit of the Code and accordingly, a separate mechanism remains to be created for insolvency procedures involving banks and financial institutions....

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We Lost GHC 9.9bn ….But Saved GHC11bn Deposits – Ofori-Atta On Collapsed Banks

Peace FM Online 15 Nov 2018

“Through the government’s intervention in August this year, deposits of some GHS11 billion have been saved as well as some 2,661 jobs in addition to several hundred saved in 2017 from the insolvent 2 banks that were closed in 2017 ... in place of the five failed banks....

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VBS: 7 Limpopo municipalities could be placed under administration

Mail Guardian South Africa 15 Nov 2018

Seven municipalities in Limpopo are on the brink of insolvency and could be placed under administration after they lost hundreds of millions of rands in investments into VBS Mutual Bank. The bank was placed under liquidation following an order by the Pretoria high court on Tuesday....

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South Africa: VBS Saga - Seven Limpopo Municipalities Could Be Placed Under Administration

All Africa 15 Nov 2018

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Ruchi Soya Q2 profit at Rs 16 cr

The Times of India 14 Nov 2018

... for 2017-18 after commencement of the insolvency proceedings in December 2017 ... The appointment was made by the National Company Law Tribunal (NCLT) on the application of the creditors Standard Chartered Bank and DBS Bank, under the Insolvency and Bankruptcy Code....

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Defunct UT Bank Chases Woyome...

Peace FM Online 14 Nov 2018

Mr Ashiagbor and Mr Nipah, who are also receivers of another defunct bank, Capital Bank, have embarked on a litany of suits seeking to retrieve loans that they say plunged a hole in the finances of the two banks leading to their insolvency ... the banks, leading to their insolvency....

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NCLAT Upholds UltraTech’s Bid For Binani Cement

Yahoo Daily News 14 Nov 2018

30, the NCLAT had reserved its judgement on the Binani Cement insolvency matter.The Story So Far ... under Section 29A of the Insolvency and Bankruptcy Code ... The insolvency proceedings against Binani Cement were initiated by Bank of Baroda before Kolkata NCLT in July last year....

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WATCH: What the liquidation of VBS means

Business Day 14 Nov 2018

The Bank found the institution to be hopelessly insolvent following details in the great bank heist ......

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NCLAT nod to UltraTech’s Binani Cement bid sets precedent

Live Mint 14 Nov 2018

In a landmark decision, India’s bankruptcy appeals court ruled that the insolvency resolution process should aim to extract the maximum value from auctions of stressed assets as it approved UltraTech Cement Ltd’s revised ₹7,900 crore bid to acquire debt-laden Binani Cement Ltd....

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RBI’S February circular: Promoters of defaulting power cos jittery as SC hearing starts Wednesday

Financial Express 14 Nov 2018

The SC on September 11 asked the RBI, banks and others to desist from invoking insolvency proceedings under the IBC against corporate defaulters as per the banking regulator’s mandate till its final orders ... ....