Insolvent Banking

Latest News for: Insolvent banking

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Adani once more evinces interest in acquiring Jaypee Infratech assets, approaches RP, CoC

Yahoo Daily News 18 Apr 2019

In a letter to JIL’s resolution professional (RP) Anuj Jain, Adani Infrastructure and Developers (AIDPL) said it is interested in participating in the new corporate insolvency resolution process (CIRP) and in implementing a turnaround plan ... JIL has `9,000-crore outstanding to various banks....

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Jet is case of throwing good money after bad

Hindustan Times 18 Apr 2019

The insolvency and bankruptcy code may be the answer to the airline’s crisis ... A wave of sentimental nostalgia greeted the news of Jet Airways’ temporary grounding after banks (which now effectively own it) preferred to wait for its sale instead of pumping in more money....

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Amanah's Morib rep denies being bankrupt, claims error made

Malaysia Kini 18 Apr 2019

Hasnul Baharuddin reportedly claims bank erred by issuing insolvency notice and has pledged to cancel it ... ....

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High growth achieved by India not possible without job creation: Kant

Deccan Chronicle 18 Apr 2019

He said India in the next three years will be amongst the top 25 countries in the ease of doing business ranking of the World Bank. Insolvency and Bankruptcy Code (IBC), Goods and Services Tax (GST) and RERA were major reforms undertaken by the Modi government, Kant said, adding ......

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Jaypee homebuyers can sue JAL after SC order

The Siasat Daily 17 Apr 2019

JIL is undergoing insolvency proceedings ... On August 9, 2017, the National Company Law Tribunal (NCLT) admitted an application filed by one of JIL’s financial creditors, IDBI Bank Ltd., for initiating insolvency proceedings ... moratorium under the Insolvency and Bankruptcy Code....

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Gitanjali Gems headed for liquidation

The Economic Times 17 Apr 2019

On October 2018, Mumbai bench of National Company Law Tribunal (NCLT) had admitted the insolvency plea filed by ICICI Bank ... ....

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The end of the runway

The Hindu 17 Apr 2019

But banks have refused to budge, and rightly so ... It was a different story a couple of months ago when the banks did attempt a bailout package for the airline ... As it is, some are asking why banks should try to rescue the airline instead of taking it to insolvency court, which is the prescribed route for such cases....

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High growth achieved by India not possible without job creation: Amitabh Kant

Moneycontrol 17 Apr 2019

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Banks’ recoveries from IBC cases falling

The Times of India 16 Apr 2019

Banks’ recoveries from bankruptcy cases are on the decline as demand for sick companies under the Insolvency and Bankruptcy Code has waned. However, fears of losing their companies have pushed more promoters to approach banks with onetime settlements under Sect 12(A) of the code....

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NBCC to submit revised bid to acquire Jaypee Infratech by April 25

Moneycontrol 16 Apr 2019

The National Company Law Tribunal (NCLT) in 2017 had admitted the application of a consortium led by IDBI Bank seeking resolution of Jaypee Infratech, and appointed Anuj Jain as the insolvency resolution professional (IRP) to manage the company's business and invite bids from investors....

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Modinomics has played big role in India’s growth narrative

DNA India 15 Apr 2019

The World Bank says resolutions in  Insolvency and Bankruptcy Code (IBC) era is now taking 270 days, as compared to the pre-IBC era and its five-year period ... The move also helped the mutual fund and insurance market, because a large chunk of cash in bank deposits moved through these intermediaries into the equity market....

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New Palestinian Cabinet Faces Governance and Fiscal Challenges

The Washington Institute 15 Apr 2019

These factors, alongside a deteriorating security and political environment, are raising alarms regarding PA and West Bank stability ... The World Bank estimated that in mid-2018, arrears to the PA pension fund stood at $1.6 billion, with insolvency likely to follow in just a couple of years if the existing trend continued....

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Despite SC order on RBI circular, bad loan resolution under IBC to continue

Yahoo Daily News 14 Apr 2019

... it can direct banks to push cases for insolvency resolution ... In referring future cases for insolvency resolution, the banking regulator may apply the same approach it had used for referring the first 12 large cases of default involving outstanding amount over Rs 5,000 crore each....