Iran declares major lender bankrupt

TEHRAN: Iran declared one of the country’s largest private banks bankrupt with its assets absorbed by the state, official media reported Saturday, in a rare move in the country grappling with international sanctions. Founded in 2012, Ayandeh Bank had a network of 270 branches across the country, including 150 in the capital Tehran alone. But…

Bank Of Maharashtra Classifies Reliance Communications’ Loan Account As ‘Fraud’ — Check Details

Reliance Communications Ltd.’s loan account has been declared as ‘fraud’ by Bank of Maharashtra, according to a regulatory filing on Saturday. The filing also informed that the company is undergoing a corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. “A resolution plan has been approved by the committee of creditors of the…