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Latest News for: Insolvent banking
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NCLT orders liquidation of Moser Baer Solar
The Times of India 19 Jun 2019
In November 2017, Central Bank had referred Moser Baer Solar under the Insolvency and Bankruptcy Code and subsequently the liquidation value has been estimated at Rs 72.4 crore ... The company which owes over Rs 4,356 crore to all lenders, has an outstanding of around Rs 122 crore to UCO Bank....
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JAL insolvency plea: ICICI Bank moves NCLAT for early hearing
Yahoo Daily News 18 Jun 2019
Private sector lender ICICI Bank on Monday approached the National Company Law Appellate Tribunal (NCLAT), seeking a direction to the Allahabad bench of the NCLT to hear urgently its insolvency petition against Jaiprakash Associates (JAL) and pass the order without any further delay....
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ICICI moves NCLAT over Jaypee co insolvency
The Times of India 18 Jun 2019
Private sector lender ICICI Bank on Monday approached the National Company Law Appellate Tribunal (NCLAT), seeking a direction to the Allahabad bench of National Company Law Tribunal (NCLT) to hear urgently its insolvency petition against Jaiprakash Associates (JAL) and pass the order without any further delay....
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Inside story: Dream Finance and customers who storm church
Joy Online 18 Jun 2019
In a related development, the Bank of Ghana has revoked the licences of 386 insolvent microfinance and microcredit companies ... The Central Bank in a press release also revoked the licences of 29 insolvent microcredit companies ... This action requires the Central Bank to revoke the ......
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Moneycontrol
18 Jun 2019
SBI files insolvency plea against Jet Airways at NCLT; airline may get renewed interest
Moneycontrol
18 Jun 2019
State Bank of India approached the Mumbai bench of National Company Law Tribunal on Tuesday against Jet Airways, and its petition may be heard on Wednesday ... But now in the insolvency courts, the bids will decide how much haircut the banks will have to take," said a senior official from the industry....
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With Jet Airways stranded, banks mull steeper provisions
Business Line 18 Jun 2019
With the efforts to find a resolution outside the Insolvency and Bankruptcy Code (IBC) process not yielding any result, banks on Monday decided to refer the airline to the National Company Law Tribunal (NCLT) to initiate corporate insolvency resolution process under the IBC ... “Banks can make provisions over and above the regulatory minimum....
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Lenders seek Jet Airways bankruptcy in last-ditch sale effort
Deccan Chronicle 18 Jun 2019
Jet Airways’ creditors said on Monday they plan to begin insolvency proceedings against the Indian airline in a last-ditch bid to find a buyer for the carrier or its remaining assets and recover some of what they are owed ... Two operational creditors owed about 67 million rupees have already filed an insolvency petition against Jet....
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Moneycontrol
18 Jun 2019
Jet Airways crashes 41% after landing in bankruptcy court
Moneycontrol
18 Jun 2019
Jet Airways owes over Rs 8,000 crore to a consortium of 26 banks led by the State Bank of India ... Jet Airways shares crashed 53 percent intraday to hit a record low of Rs 32.25 but managed�to show some recovery in late trade�on June 18, after� State Bank of India filed insolvency petition against the company to recover dues....
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Moneycontrol
18 Jun 2019
Jet Airways crashes 53% after landing in bankruptcy court
Moneycontrol
18 Jun 2019
Jet Airways owes over Rs 8,000 crore to a consortium of 26 banks led by the State Bank of India ... Jet Airways shares extended losses and crashed 53 percent intraday to hit a record low of Rs 32.25 on June 18 after a media report indicated that State Bank of India filed insolvency petition against the company to recover dues....
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Jet Airways lenders to go to bankruptcy court
RTE 18 Jun 2019
... The creditors, led by State Bank of India, said the meeting decided to turn to India's insolvency and bankruptcy code (IBC). ... They added the bidder had sought "exemptions" on pricing from the Security and Exchange Board of India, the market regulator, which was only possible under the insolvency code. ... ....
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Equities trade volatile, Jet stocks slide further by 10 pc
The Siasat Daily 18 Jun 2019
Among stocks, Jet Airways nosedived another 10 per cent to Rs 61.50 per share, a day after lenders led by State Bank of India decided to seek resolution for the grounded airline under the Insolvency and Bankruptcy Code (IBC). IndusInd Bank ......
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