Mumbai: The central bank has called for strengthening the infrastructure at the National Company Law Tribunals (NCLT) to ensure time-bound resolution of stressed-asset loans in the banking sector, where the problem of mounting bad debt has prompted curbs on the normal operations at several high-street lenders. In its Trends and Progress in Banking for 2017-18…
Sears Chairman Edward Lampert moved Friday to throw a lifeline to the bankrupt retailer even as the company announced plans to close 80 more stores, including two in Illinois. Lamperts hedge fund said in a statement that it pulled together financing to submit a $4.4 billion bid for the retailer on Friday, the deadline for…
Haigreve Khaitan, senior partner at law firm Khaitan. Mumbai: Haigreve Khaitan, senior partner at law firm Khaitan and Co., has been in the thick of action following the changed regulatory environment brought about by the Insolvency and Bankruptcy Code (IBC). He has advised some of the big companies that have gone under the hammer, such…
Even after the government relaxed the norms for the micro, small and medium enterprise (MSME) promoters to bid for their own firms under the Insolvency and Bankruptcy Code (IBC), only a few have been able to bid successfully for their companies. A number of companies, closed for three to nine…
The Reserve Bank of India has called for strengthening the National Company Law Tribunal(NCLT) infrastructure to ensure time bound resolution of stressed assets of the banking sector. Better resolution will also depend on the future of loan repayment culture, it said In its ` Trends and Progress in Banking for 2017-18 released on Friday, in…
This is the time of the year when many will be reviewing their financial arrangements and may be tempted to set up a self-managed super fund (SMSF). The popularity of SMSFs is starting to wane but the overall number of these accounts is still trending up as many superannuants find the ability to limit fees…
You had a great Christmas. You enjoyed picking the best gifts for the people you love, you ate and drank well, and you caught up with friends and family you havent seen for ages. But somewhere between the Christmas day nap and sales browsing came the creeping realisation that your finances are about as healthy…
QY Research has come up with a newly published report on global Debt Arbitration market in its database that provides an in-depth analysis of the key market insights, its future trends, and developments, profiles of leading players, key restraints and drivers, Debt Arbitration market segmentation and forecasting. The report highlights the market size and CAGR…
Cultura RM Exclusive/Stefano Gilera/Getty Images There is an estimated $1.5 trillion of outstanding student loan debt. The burden is taking a toll on Americans, from preventing homeownership to delaying other major life milestones, like marriage. Still, its easy for Americans to want to eliminate that debt as soon as possible and criminals are capitalizing on…
JD.com, Chinas second-largest e-commerce player, is restructuring its e-commerce business in a bid to respond to the hugely competitive retail market and allay investor concerns. The changes come just days after the companys founder and CEO Richard Liu was cleared of felony rape charges in the US. US prosecutors stated there was insufficient evidence to…