Identify willful loan defaulters: Opposition to government – Economic Times

Opposition in the Rajya Sabha today asked the government to identify willful defaulters of bank loans, as Congress leader P Chidambaram said the ordinance to amend the insolvency and bankruptcy code would benefit foreign companies and entities over Indian firms. Initiating a debate on the Insolvency and Bankruptcy Code (Amendment) Bill, the former Finance Minister,…

Deals Buzz: SBI to start insolvency proceedings against 12 defaulters from today – Livemint

State Bank of India is set to initiate insolvency proceedings Videocon Industries. Photo: Pradeep Gaur/Mint Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country. ITC, JK Paper among potential suitors for Sirpur Paper Mills Telangana-based Sirpur Paper Mills Ltd, which is in the middle of insolvency proceedings…

SBI to start insolvency proceedings against 12 defaulters from today – Economic Times

MUMBAI: State Bank of India is set to initiate insolvency proceedings against at least a dozen defaulting companies including Videocon Industries after failing to recast their loans by the December deadline. The country’s largest bank in terms of assets will refer Videocon Industries, Visa Steel, Monnet Power, Uttam Steel, Essar Projects, Videocon Telecom, Jaiswal Neco…

Fraud investigation into insolvency firm P&A Partnership is dropped – The Times

Government abandons inquiry into multimillion-pound fee scam James Hurley, Enterprise Editor Jeremy Priestley, P&As controlling partner, strenuously denies there was any wrongdoing at the company, which went bust two years agoSWNS The Department for Business, Energy and Industrial Strategy has dropped a criminal investigation into a firm of insolvency practitioners accused of a multimillion-pound fee fraud.…