The total admitted claim of financial creditors of these 88 companies stood at Rs 1.3 trillion, of which they recovered Rs 65,635 crore.
Vijay Mallya who inherited the UB Group from his father as a young 28-year-old, said he has got "nothing to prove".
The better performing states throw up more employment opportunities including at unskilled levels.
Mallya is a fugitive from justice in India, Attorney General Mukul Rohatgi told the Supreme Court.
Piramal Enterprises on Friday claimed that its bid for resolution of debt-ridden mortgage lender DHFL is highest and fully compliant with regulatory norms. Since the conclusion of the fifth and final round of the bidding process last month, Piramal Enterprises and the US-based Oaktree Capital are claiming that their bids are the highest and fully implementable. According to sources, suitors have submitted bids in the range of Rs 35,000-37,000 crore.
With real estate valuations falling and other deals coming unstuck, the current management's improved target faces significant challenges.
"By taking my passport or arresting me, they are not getting any money," Vijay Mallya said.
The need to allow government shareholding in public sector banks to come down below 51 per cent
The dispute between RCom and Chinese banks led by ICBC started after Anil Ambani led company defaulted on its loans to Indian as well as Chinese banks. A British court on May 22 asked Ambani to pay nearly $717 million to three Chinese banks within 21 days.
The development comes a day after RCom posted a consolidated loss of Rs 30,142 crore for July-September 2019 due to provisioning for liabilities after the Supreme Court ruling on statutory dues.
Indradhanush-II is likely to chart out the process for resolution of non-performing assets.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
He endorsed transparency and financial stability in addition to issues related to inclusive growth and development, write Puran Singh and Nupur Pavan Bang.
Aircel executives said the company could offer value to big boys like Airtel or Jio as a low-end mobile services brand
If raters get away by moving from AAA to D overnight after companies default, as happened with DHFL, YES Bank, RCom, and IL&FS, it shows a complete breakdown in the rating system. It calls for exemplary punishment, not kid glove treatment, says Debashis Basu.
Prime Minister Narendra Modi will hold discussions with public sector banks (PSBs) and financial institutions to draw up an action plan for banking reforms
Will have to take impairment of Rs 15,000 crore before recovering a single rupee from its arms
Malvinder "forged the signatures" of Aditi Singh, Shivinder's wife, in the documents of RHC Holdings Pvt Ltd, which along with Oscar Investments Ltd jointly owned financial services firm Religare Enterprises Ltd and hospital chain Fortis Healthcare Ltd, it said.
The code says the process is intended to balance the interests of all stakeholders and the resolution plan is also required to make a statement as to how it has dealt with these interests.
So far, among the IBC cases, SBI has been able to recover Rs 8,500 crore from Tata Steel's acquisition of Bhushan Steel. Another Rs 1,500 crore is in an escrow account on account of Electrosteel Steels.
State Bank of India (SBI) chairman Rajnish Kumar, in conversation with Abhijit Lele, also says that the overhang of corporate debt stress will begin to recede in the next two-three quarters.
Recent tribunal rulings open prospects of large haircuts and barriers to auctioning of personal guarantees, among other issues
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
The first of a two-part series explores how the proceedings under the IBC have taken off and whether the code is helping banks recover their unpaid loans
While RCom owes Indian banks close to Rs 45,000 crore, Ambani has lost close to $408 million of personal wealth year-to-date until Tuesday.
'By not only decriminalising routine business failures, but by ensuring that institutional lending and corporate rescue frameworks are strengthened via the IBC, the prime minister has ensured there is no room anymore for the proverbial 'reckless, prodigal debtor',' notes Sanju Verma.
'Make cash available now, don't put people into suffering.' 'You should not come to a situation where the operation was successful and the patient is dying.' 'What did not happen in India for several years, you cannot do in 50 days.' 'This is agony and pain.'
DLF has launched a mega discount sale of its properties.
The cut-off date the RBI chose was March 1, 2018. This meant that by the end of August if these accounts were not resolved, then they would have to proceed through insolvency.
Bad loans continue to originate mainly from state-owned banks, where the top management's responsibility is not linked to career prospects nor has legal consequences, says Debashis Basu.
The banking sector's credibility is on thin ice. Unless the government takes strict steps, things could get worse.
In a recent lecture, RBI governor Raghuram Rajan dished out some frank advice -- don't get into 'jugaad', instead try for the long haul. Only that will sustain in the long-run.
Tinesh Bhasin explores the limitations of rights granted to homebuyers under the Insolvency and Bankruptcy Code.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
For his 60th birthday in December, which he called his third 20th birthday, Mallya flew in Enrique Iglesias to perform at his villa overlooking the beach in Goa.
The taxpayers and honest borrowers suffer when a big entity defaults.
The trio, 'twin shocks' of demonetisation and GST, 'twin balance sheet' problem that has been weakening India's banking system and the 'twin deficit' problem will continue to challenge economic management and performance in the year ahead, says Shankar Acharya.
The government has provided a long-term vision.
Investors and EOW waded through a maze of legal obstacles to get their hands on the 'kingpin'.
Contrary to the bragging that marked its two-year anniversary, the government's timidity on reform is simply astounding.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances