On June 13, the Reserve Bank of India (RBI) came up with an advisory asking banks to file insolvency and bankruptcy proceedings for 12 loan accounts, in which banks had an exposure of more than 5,000 crore each. This constituted about 25% of the systems bad loans whose total is estimated at 7 lakh crore.…
The National Company Law Tribunal, Chennai, on Saturday, reserved an order that would clarify whether a PSU would fall within the ambit of a corporate person under the Insolvency and Bankruptcy Code. The matter before the Tribunal pertains to Petitions filed by power producers Ind. Bharath Power Gencom Ltd, Ind. Bharath Thermal Limited and Aarkay Energy (Rameshwaram) Limited against…
The National Company Law Tribunal, Chennai, on Saturday, reserved an order that would clarify whether a PSU would fall within the ambit of a corporate person under the Insolvency and Bankruptcy Code. The matter before the Tribunal pertains to Petitions filed by power producers Ind. Bharath Power Gencom Ltd, Ind. Bharath Thermal Limited and Aarkay Energy (Rameshwaram) Limited against…
The National Company Law Tribunal (NCLT), Chennai, has reserved orders in a batch of petitions filed by power producers Ind Bharath Power Gencom Ltd, Ind Bharath Thermal Limited and Aarkay Energy (Rameshwaram) Limited against Tamil Nadu Generation and Distribution Company Ltd (Tangedco), the State government-owned power distribution company, according to legal…
Insolvency and Bankruptcy Board to formulate dedicated framework for SMEs soon New Delhi, Sept 9 (KNN) Eyeing at addressing the concerns of the Micro, Small and Medium Enterprises (MSMEs) in the country under the Insolvency and Bankruptcy Code (IBC), the IBC Board of India is in the process of formulating a dedicated insolvency framework…
State Bank chairman Arundhati Bhattacharya today urged small and medium enterprises (SMEs) to focus on raising funds through equity instead of debt to drive their businesses in a healthier manner. She said SMEs’ relying more on debt for their growth capital in the initial stage of their business put pressure on their balance sheets. “One…
State Bank chairman Arundhati Bhattacharya today urged small and medium enterprises (SMEs) to focus on raising funds through equity instead of debt to drive their businesses in a healthier manner. She said SMEs’ relying more on debt for their growth capital in the initial stage of their business put pressure on their balance sheets. “One…
Mumbai: State Bank chairman Arundhati Bhattacharya on Friday urged small and medium enterprises (SMEs) to focus on raising funds through equity instead of debt to drive their businesses in a healthier manner. She said SMEs’ relying more on debt for their growth capital in the initial stage of their business put pressure on their balance…
Bell Pottinger, the British public relations firm disgraced by accusations that it exploited racial faultlines in South Africa, is on the brink of collapse. The company is expected to go into administration part of the U.K.’s corporate insolvency process as early as next Monday, and a number of staff members have been told of their…
ADMINISTRATORS for Ostwald Bros have revealed to The Chronicle the full list of creditors owed money. The list includes big names such as Wagners, IOR Petroleum, Ergon Energy, FKG Group, Caltex and Coates Hire. Staff are also believed to be owed about $4 million in redundancy payouts, but that number could climb if more workers…