Restructured debt from Indian power distributors lures investors
Athens bowed to demands to phase out tax breaks for its islands.
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Corporate ministry documents show that the Siva's firm kept taking loans from public sector banks like State Bank of India, Punjab National Bank which gradually turned to bad loans.
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A direction by Chief Justice of India S A Bobde, Justice B R Gavai, and Justice Surya Kant to the Karnataka high court asked the latter to expeditiously settle the matter of assets deposited before it by Mallya for liquidation, and thereby payment to creditors 'preferably not later than three months'. It will be interesting to see the view of the London high court, if the settlement of his dues to Indian creditors is imminent, reports Ashis Ray.
The Essar group hinted at challenging the verdict, citing last week's Supreme Court order that upheld the August 2018 amendment to the IBC law.
Describing the summit as 'positive and constructive throughout', the chief minister said a lot companies have committed to invest in money into the state.
According to sources, both the departments have already laid their claim on the proceeds from the sale of the property
The decision to do away with Rs 500 and Rs 1,000 notes accelerated the slowdown in economic activity with growth averaging 6.8 per cent in the seven quarters after it, as against an average of 8 per cent in the six quarters preceding it, says former chief economic advisor Arvind Subramanian.
A revenue court on Wednesday ordered return of the land sold to Rajiv Gandhi Charitable Trust by an industrial house to Uttar Pradesh State Industrial Development Corporation.
While slow execution and delays in infrastructure projects have led to a payment crisis as recovery of dues is a big challenge, banks are breathing down their necks for loan repayment.
Grounded Kingfisher Airlines has written to UCO Bank wanting to know the basis of attaching the 'wilful defaulter' tag on the carrier.
Mallya, once known as the "King of Good Times" for his flamboyant lifestyle, has until Friday to appear before an IDBI committee to explain why he should not be declared a "wilful defaulter".
SBI's overall gross NPA as on end-December 2013 was close to Rs 68,000 crore ( Rs 680 billion) or 5.73 per cent of its gross advances.
Concerned over banks hiding their actual NPA numbers, RBI Governor Raghuram Rajan on Tuesday said the central bank is "increasingly turning towards taking action" on such divergences.
Avoid getting into a debt trap by using your credit judiciously. Anil Rego explains how
Commerce and Industry Minister Piyush Goyal that the players in the sector should start lowering prices and, if the worst comes to the worst, write off investment as bad business decisions.
The lenders have not ruled out selling the property to recover part of their loans to the company.
