‘Six months after getting a loan for a tractor and shed, I lost my job. What can I do?’ – Independent.ie

In the event that the debt becomes significant, the bank or financial institution may bring Court proceedings against you to recover the debt.  The bank normally brings two types of proceedings: 1)         Debt Claim 2)         Possession The former is where banks seek to recover the amount due to them and the latter is where they…

Lok Sabha passes amendments to insolvency bill to bar defaulters from bidding process – Business Today

 BusinessToday.in   New Delhi     Last Updated: December 29, 2017  | 18:37 IST The Lok Sabha approved the Insolvency and Bankruptcy (Amendments) Bill, 2017 on Friday that bars wilful defaulters and promoters from bidding for companies awaiting insolvency resolution. This is to plug the loopholes in the resolution process and by being selective about who can participate in it. Tabled…

Insolvency Bill in Lok Sabha: Promoters of defaulting firms get a month to clear dues – The Indian Express

By: ENS Economic Bureau | New Delhi | Published: December 29, 2017 5:27 am The Bill allows asset reconstruction companies, banks and alternative investment funds registered with the Securities and Exchange Board of India. (Express photo by Ravi Kanojia) Related News Defaulting promoters who had submitted resolution plans for insolvent companies before an Ordinance in…

British Airways’ operator to buy Austrian airline Niki – Daily Sabah

The International Airlines Group, which operates British Airways and Iberia, is to buy Austria’s insolvent low-cost holiday carrier Niki, dpa has learned. With its network of European and North African vacation destinations, Niki declared itself insolvent this month after German carrier Lufthansa withdrew its takeover offer for the airline. Lufthansa said it abandoned its…

Reliance Jio saves RCom from debt woes, but drives it out of wireless – Nikkei Asian Review

MUMBAI — Indian billionaire Mukesh Ambani has emerged as the savior preventing bankruptcy for his younger brother Anil Ambani’s Reliance Communications. Yet his Reliance Jio Infocomm, which has aggressively offered cut-price data and free services, has largely been blamed for the financial woes of RCom and other players. Reliance Jio Infocomm announced Thursday that it will buy…

British Airways’ operator to buy Austrian airline Niki – Daily Sabah

The International Airlines Group, which operates British Airways and Iberia, is to buy Austria’s insolvent low-cost holiday carrier Niki, dpa has learned. With its network of European and North African vacation destinations, Niki declared itself insolvent this month after German carrier Lufthansa withdrew its takeover offer for the airline. Lufthansa said it abandoned its…