Latest News for: Insolvent banking

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BSE Sensex, NSE to suspend trading in DHFL shares from today

Hindustan Times 14 Jun 2021
The resolution plan under the Insolvency and Bankruptcy Code (IBC) was approved by the tribunal on June 7 ... The Reserve Bank of India (RBI) referred DHFL, which was then the third-largest pure-play mortgage lender, for resolution under the IBC in November 2019.
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NBCC says its bid to buy Jaypee fully-backed by govt, assures homebuyers of timely possessions

Live Mint 14 Jun 2021
He said the company is offering ₹8,700 crore to banks as against the claim of ₹9,782 crore ... The CoC includes members of 13 banks and a representative of over 20,000 homebuyers ... JIL went into the insolvency process in August 2017 after the National Company Law Tribunal (NCLT) admitted an application by an IDBI Bank-led consortium.
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BoG declines response to UT Bank, unibank petitions

Business Ghana 14 Jun 2021
The BoG in its letter indicated that Section 123 (1) of the Banks and Specialised Deposit Taking Institutions Act (BSDTI) authorises the central bank to revoke the licence of a bank when it determines that the relevant bank is insolvent or is likely to be insolvent within 60 days after the date of the determination ... Bank of Ghana Act.
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Europe upbeat over avoiding permanent joblessness as fears recede

Business Day 14 Jun 2021
In November, European Central Bank (ECB) president Christine Lagarde openly warned of the risk of persistent ... Some businesses will still go under, even though worries about a wave of insolvencies may be overblown, according to Bank of France governor Francois Villeroy de Galhau.
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Committee of Creditors to start voting on Jaypee Infratech bids on June 14

Business Line 13 Jun 2021
While the final voting will conclude only on June 23, banking industry sources said that the bid submitted by Suraksha could be ahead due to better recoveries ... The company went into the insolvency process in August 2017 after the NCLT admitted an application by an IDBI Bank-led consortium.
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NBCC says its bid to acquire JIL compliant, backed by govt

Yahoo Daily News 13 Jun 2021
He said the company is offering Rs 8,700 crore to banks as against the claim of Rs 9,782 crore.Story continues ... The CoC includes members of 13 banks and a representative of over 20,000 homebuyers ... JIL went into the insolvency process in August 2017 after the National Company Law Tribunal (NCLT) admitted an application by an IDBI Bank-led consortium.
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Trading in the shares of DHFL suspended from Monday

The Telegraph India 13 Jun 2021
The resolution plan under the Insolvency and Bankruptcy Code (IBC) was approved by the tribunal on June 7 ... In November 2019, the Reserve Bank of India had referred DHFL — then the third-largest pure-play mortgage lender — for resolution under the IBC.
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BSE, NSE to suspend trading in DHFL shares from Monday

The Times of India 13 Jun 2021
... registered valuers appointed under the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016," the added ... In November 2019, the Reserve Bank of India referred DHFL for resolution under Insolvency and Bankruptcy Code (IBC).
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Europe keeps aiding companies to avoid surge of covid-19 insolvencies

Live Mint 13 Jun 2021
To prevent an avalanche of insolvencies and a new financial crisis on the continent, governments are extending support measures ... And banks found little reason to assume big losses on their loan portfolios ... If a tsunami comes, regulators fear that banks aren’t prepared.
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Court to rule on Ato Essien’s no-case application July 8

Ghana Web 13 Jun 2021
State prosecutors have accused them of engaging in various illegal acts that led to the dissipation of the GH¢620 million liquidity support given to Capital Bank by the Bank of Ghana (BoG) between June 2015 and November 2016 ... On August 14, 2017, its licence and that of UT Bank were revoked by the BoG after it had declared them insolvent.
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Worst fears of enduring pain for euro area workers are subsiding

Straits Times 13 Jun 2021
In November, European Central Bank President Christine Lagarde openly warned of the risk of persistent labour ... Some businesses will still go under, even though worries about a wave of insolvencies may be overblown, according to Bank of France Governor Francois Villeroy de Galhau.
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NSE suspends trading of DHFL shares

Live Mint 12 Jun 2021
As part of resolution process under the Insolvency and Bankruptcy Code (IBC), lenders led by Union Bank of India in January this year favoured the bid by Piramal Capital and Housing Finance to take over the beleaguered housing finance firm.
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Wall Street Giants Want to Be Your Landlord – Data Shows Megabanks Are Buying up ...

Bitcoin 11 Jun 2021
banking system’s wings today has analysts and economists very concerned about the next financial crisis ... mega-banks are seemingly manipulating the market ... What if Blackrock is quietly bailing out banks ... What if Banks are becoming insolvent due to a year of mortgages not getting paid,” Tim Pool asked his Twitter followers the next day.
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Three more unveiled for Trail of Governors

The Capital Journal 11 Jun 2021
As of the official unveiling on Friday, 28 of the 31 former South Dakota governors' life-sized statues are complete ... The project planned to have three new statues unveiled each year ... W. Taylor ... He repealed an insolvent state bank depositors guaranty law and ended the rural credits program after discovering embezzlement by the treasurer of its board.
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JP Infra creditors to vote on NBCC, Suraksha offers

The Times of India 11 Jun 2021
Jaypee ... Did you Know? ... ’s insolvency resolution professional to invite fresh bids from both parties and conclude the process within 45 days ... The Allahabad bench of the NCLT had in 2017 classified the company as insolvent on a petition filed by IDBI Bank. The company had defaulted on a Rs 526 crore loan from the bank. .
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