The Supreme Court's decision to allow borrowers a chance to be heard before their accounts are flagged as fraudulent by lenders is expected to result in several cases being reopened where the borrower is aggrieved because of such classification, bankers said. Still, the reopening of cases would not be automatic. A borrower who is aggrieved by the 'fraud' classification will have to approach the bank and consequently, the bank will take the necessary steps so that the apex court's order is followed in letter and spirit, they said.
Bombay High Court-appointed arbitrator retired Justice CK Thakkar delivered the verdict on July 17 and told BCCI to pay Rs 4,800 crore as compensation by September 2020.
The Mumbai Bench of the National Company Law Tribunal (NCLT) on Monday approved Piramal Group's resolution plan for the beleaguered Dewan Housing Finance Ltd (DHFL), which has been reeling from the insolvency process since 2019. The plan put forward by Piramal Group, which has offered to pay Rs 37,250 crore, has been approved by the committee of creditors (CoC), the Reserve Bank of India (RBI), and the Competition Commission of India (CCI).
This is an exceptional case of extension beyond the 330-day limit under the insolvency and bankruptcy code.
The tribunal accepted the government's argument that licence or spectrum is a state asset over which Aircel had no right of ownership.
Though NCLT has extended window to find a buyer, bankers don't see much hope of a deal.
Unless security is given paramount importance, it is difficult for real estate activity to pick momentum in J&K.
First case filed after new norms come into force, NCLT admits plea.
They play a key role in managing rescue and liquidation processes envisaged under the Code
Delhi-based Nilesh Sharma, among the first IPs, said while the framework is in the initial stage and might have teething trouble, the opportunity is immense in the long run.
Of the Rs 4,405 crore unpaid debt of 12 companies, more than half was locked in just one Mumbai-based real estate company, Kohinoor CTNL Infrastructure.
RBI had on February 12, 2018 issued a circular saying that lenders have to provide for resolution plan within 180 days in case of large account of Rs 2,000 crore and above.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances