Insolvency Guardian Media Centre
MMTC announced that pursuant to outstanding existing financial assistance/credit facilities Restructuring Scheme approved by Banks of MMTC in terms of above RBI guidelines, the Board of Directors of the company approved the Implementation and Signing of necessary documents in this regard on 8 June 2021. State Bank of India is the lead Banker.
Under this scheme, the company has got moratorium/deferment on recovery of interest for credit facilities upto December 2021/March 2022 and for Principal upto March 2022 by different Banks.
The final settlement is envisaged out of divestment proceeds of Neelachal Ispat Nigam (NINL).
It may be affected by cases/ Anglo Coal, Government directives and Covid-19 pandemic situation etc. Requisite…
Read the full article at: https://www.business-standard.com/article/news-cm/mmtc-update-on-debt-restructuring-scheme-121060900899_1.html
National News and Sport
Crown let man with $100k debt keep playing
Crown Melbourne has been accused of predatory behaviour after a royal commission revealed it allowed a high-roller with a $100,000 gambling debt to keep playing.
The man exchanged a $100,000 cheque for chips at the Southbank casino in May 2016.
He was a high-stakes roulette enthusiast who usually bet about $4000 per spin and once gambled continuously for 26 hours and 23 minutes.
This time he lost everything. And then his cheque bounced.
But he was encouraged to keep on gambling at Crown Melbourne’s Mahogany Room – reserved for VIPs and high-rollers – and told he could pay back the debt from his winnings.
He paid back…
Read the full article at: https://www.euroagazette.com.au/national-news-and-sport/crown-let-man-with-100k-debt-keep-playing
Posted on: June 8, 2021, 03:07h.
Last updated on: June 8, 2021, 03:26h.
A gambler who took part in the 2004 killing of a Long Island bookies runner has finally admitted his culpability in the case, Newsday reports.
Mark Orlando, then 33, lured Bobby Calabrese, 24, to a deserted industrial area in Island Park, between the mainland and the island of Long Beach.
Orlando had promised to hand over a $17,000 gambling debt to the younger man. But he had no intention of paying.
Instead, he and another man, Herve Jeannot, ambushed Calabrese. Orlando held the victim while former US Marine Jean…
Read the full article at: https://www.casino.org/news/bettor-finally-admits-to-2004-murder-of-long-island-bookies-runner/
Besides better healthcare, contemporary times call for the establishment of proper credit counselling agencies
The pandemic has been an eye opener in ways more than one. While it taught us to prioritise health and life over lifestyle, it has also begun to make us aware of crucial instruments, such as the Debt Management Plan. The unseen virus has severely impacted debtors and creditors equally job loss, pay cuts, the moratorium, spike in healthcare costs, and more have become daily worries. Apart from seeking better healthcare facilities and infrastructure, these times call for the establishment of proper credit counselling agencies, with the NPA threatening to soar higher, where household debts have a substantial role as well.
Lets loo…
Read the full article at: https://www.outlookindia.com/outlookmoney/debt/how-to-benefit-from-a-debt-management-plan-7599