Debt counselling might not work for everyone, but if done properly it does uncover cases of reckless lending and the greed of some credit providers. If your debt was granted recklessly, it can be set aside by the courts. The effectiveness of debt counselling and its cost to overindebted consumers are under the spotlight as…
Within a year of the National Company Law Tribunal (NCLT) starting operations from June 2016, a total of 81 companies which had taken loans to the tune of Rs 14,260 crore have pleaded with the body seeking permission to be declared bankrupt under the Insolvency and Bankruptcy Code 2016. According to the NCLT, 81 cases…
Shiv Kumar Tribune News Service Mumbai, June 24 The Maharashtra government has announced a farm loan waiver amounting to Rs 34,000 crore. Called the Chatrapati Shivaji Maharaj Krishi Samman Yojana, loans up to Rs 1.5 lakh rupees of individual farmers that were taken before July 2016 will be waived, Chief Minister Devendra…
Crossroads Capital Announces Results of Special Meeting & Conversion to Liquidating Trust Friday, June 23, 2017 8:07 PM UTC LINCOLN, Neb., June 23, 2017 — Crossroads Capital, Inc. (the Company) announced the results of its reconvened special meeting held on June 23, 2017. The Companys special meeting of stockholders was convened on June 2, 2017. …
Two weeks after a loan waiver was announced, Maharashtra chief minister Devendra Fadnavis on Saturday launched another scheme to provide Rs 34,000 crore debt relief to the financially distressed farmers in the state. The newly announced scheme by the BJP-led government will see debt of up to Rs 1.5 lakh per farmer being written off.…
Members of the armed forces are at risk of financial problems when they the leave, in part because they struggle to find new employment, according to advice provider PayPlan. The average debt held by former military personal entering an Individual Voluntary Arrangement stands at £51,435, internal figures from the company showed, compared to an overall…
Beena Parmar Moneycontrol News The banking sector this week was shadowed largely with the bankers doing marathon meetings to decide on the 12 large corporate bad loan accounts identified by the Reserve Bank of India to be taken to the National Company Law Tribunal under the Insolvency and Bankruptcy Code. The 12 defaulted borrowers include…