MUMBAI: For Indias overwhelmingly complex legal system, the Insolvency and Bankruptcy Code (IBC) is billed as the silver bullet that would help lenders recover about Rs 9 lakh crore of sticky loans. But the law has an unwanted side effect loss of jobs. Since IBC was used by lenders to slice through the thicket of…
The debt woes of one of Indias leading wireless carriers Reliance Communications have deepened this week thanks to an unlikely new source of pressurea leading state-owned Chinese bank. It emerged late Monday that China Development Bank, a policy bank which often helps fund Chinese companies investments overseas, had late last week filed a petition for…
The debt woes of one of India’s leading wireless carriers Reliance Communications have deepened this week thanks to an unlikely new source of pressure — a leading state-owned Chinese bank. Continue Reading Below It emerged late Monday that China Development Bank, a policy bank which often helps fund Chinese companies’ investments overseas, had late last…
CASH-strapped tennis legend Boris Becker is taking his ex manager to court as the pain of his bankruptcy begins to bite. Former mentor Sascha Rienne has been called to appear before the courts in Cologne in January accused by sporting ace Boris of failing to properly pay him for lucrative personal appearances. Splash News Becker, who…
Shares of Reliance Communications fell sharply by over 9% in early trade today amid reports that China Development Bank has filed insolvency case against the telecom firm, which the company has denied. The stock tanked 8.61 per cent to Rs 12.20 on BSE. At NSE, shares of the company dived 9.36 per cent to Rs…
RCom shares fall on Tuesday Reliance Communications (RCom) Ltd’s shares fell sharply on Tuesday morning after media reported that China Development Bank was pursuing insolvency proceedings against the company. China Development Bank (CDB) filed an insolvency petition against Reliance Communications to the National Company Law Tribunal to recover about 114.6 billion rupees ($1.8 billion), reports…
MUMBAI, Nov 28 (Reuters) – Reliance Communications Ltds shares fell sharply on Tuesday morning after media reported that China Development Bank was pursuing insolvency proceedings against the company. China Development Bank (CDB) filed an insolvency petition against Reliance Communications to the National Company Law Tribunal to recover about 114.6 billion rupees ($1.8 bln), reports from…
Mr Nduna Herald ReporterCHEGUTU West legislator and businessman Mr Dexter Nduna has dispelled press reports that he is bankrupt, arguing that a newspaper article stating otherwise was calculated to sully his person and standing. Last week, reports suggested that the High Court had declared Mr Nduna and his wife, Schalastica, bankrupt for failing to pay a…
By Lisa Mcloughlin For Mailonline Published: 06:07 AEDT, 28 November 2017 | Updated: 06:13 AEDT, 28 November 2017 e-mail View comments His financial woes hit the headlines in June after it was reported that he never paid back an undisclosed debt to a private bank. And now Boris Becker, 50, has insisted that his bankruptcy was…
NEW DELHI: The insolvency ordinance provides a level playing field to all parties interested in participating in the resolution process and there are enough players to ensure that competitive bids are made for stressed assets, said government officials, as they defended the new measures that prevent errant promoters from trying to reacquire assets till they…