The recent amendments to the IBC practically barred promoters from re-acquiring their own assets, leaving only a small window to convert their non- performing assets into standard assets by paying the overdues.
In 2009, ArcelorMittal had picked up a stake in Uttam Galva Steels. A new Section 29A of the IBC prohibits promoters of companies with NPAs of more than a year from bidding for these companies.
China Development Bank takes Reliance Communications to NCLT over loan default
The bank is also working on a three-year business plan, nearly coinciding with the time its new chairman Rajnish Kumar would be in the corner office.
Essar group, Bhushan Steel and JSW group likely to be impacted by changes
Daniel Wu, chairman of the Asian Bankers Association (ABA), says there is merit in merging some of the less efficient public sector banks in the country.
No new capacity addition is planned for 2018 and capital expenditure plans are on hold
'The 5.7% growth in the April-June period is an aberration because of GST.' 'Business activity in the last 15 days of the quarter was minimal or zero.'
Piramal will join the JSW, Vedanta and Tata groups, which are bidding aggressively for distressed assets, especially in the infrastructure and steel sectors.
The move will have cascading effects for lot of related sectors
The corporate sector took production cuts, conducted inventory management and reduced staff to meet challenges following the govt's note ban decision
On a sequential basis, banks have had to set aside a substantial amount for bad loans, up 30 per cent from Rs 3,459 crore in the June quarter to Rs 4,508 crore.
Launched this April, the FCG business will end the year with a turnover of Rs 500 crore
B Sriram, the senior-most managing director at SBI, along with fellow MDs Rajnish Kumar, P K Gupta, and Dinesh Kumar Khara had been interviewed for the post
Is the SBI chairman leaving the bank in a stronger and better position than what it was? Abhijit Lele finds out.
Project delays, stretched balance sheets impacting asset quality indicators of HFCs.
ArcelorMittal could be interested in Bhushan Steel or Essar Steel, two of the five steel companies referred by RBI for insolvency proceedings.
The time-bound nature of the bankruptcy code, envisaging resolution within 180 to 270 days, would put enormous pressure on the existing judicial infrastructure.
As the BJP snaps at its heels, can the Communists stay relevant in the electoral game?
The gross bad debt of the Indian banking system as of March was at Rs 7.11 lakh crore
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