Shamik Paul

Articles By Shamik Paul

43 Articles

Insolvency cases: Banks make third list for NCLT

Banks have drawn up a third list of corporate defaulters to be referred to the NCLT for resolution under the Insolvency and Bankruptcy Code, 2016 (IBC), senior bankers said.

Insolvency and Bankruptcy Code, nclt, National Company Law Tribunal, rbi, reserve bank of india News

Essar Steel’s resolution process may get extension

The 270-day deadline for Essar Steel ends on April 29. As per the Insolvency and Bankruptcy Code (IBC), 2016, a resolution plan has to be finalised and approved within 270 days of a company's admission to the National Company

essar steel, essar steel resolution process News

Poor asset quality has caused a churn in banking system

Bankers see digitisation pushing the expansion of banking services in the next 5-6 years. Technology will play a very important role in making banking services faster, cheaper and more convenient.

banking sector, PSB, RBI, poor asset quality News

Maximum Returns: Bhushan Power & Steel likely to see rebids

Legal experts have differed in their interpretation of the Insolvency and Bankruptcy Code, 2016 (IBC), on the issue of eligibility of bids received after the RP's deadline.

bhushan steel and power, second round bidding, JSW steel, tata steel News

Race begins afresh: Essar steel lenders call for fresh bids

Decision comes after bankers rejected bids by both ArcelorMittal and Numetal since they didn’t meet IBC criteria.

Essar steel, steel sector, steel industry, economy News

ArcelorMittal likely to offer Rs 3k crore to Uttam Galva to settle dues

Move to allow ArcelorMittal to re-bid for Essar Steel without its resolution plan getting stalled due to regulatory hurdles.

ArcelorMittal, steel, steel sector, steel industry News

We’re betting big on our housing loan portfolio, says Bank of Baroda’s Executive Director

With its focused approach to the home loan business yielding results, Bank of Baroda is confident of increasing its market share of new home loans to 6%, Ashok Kumar Garg, executive director, tells Shamik Paul.

bank of baroda, interest rates, banking, finance, bank of baroda interest rates, retail deposit interest rates, housing loan, loan portfolio News

Visa Steel to be admitted in NCLT; hearing likely on March 19

The hearing for Visa Steel at the Kolkata bench of the National Company Law Tribunal (NCLT) is likely to be scheduled on March 19, sources with direct knowledge of the development told FE.

visa steel, NCLT, national company law tribunal, law tribunal, Reserve Bank of India News

Maintaining 25-30% compound growth rate for next 3-5 years key to us, says MD & CEO of IndusInd Bank

The consolidation of public-sector banks has not really gathered steam because it has to be a calibrated process, feels Romesh Sobti, managing director and CEO, IndusInd Bank.

indusind bank, PSB, public sector bank, romesh sobti News

Essar Steel bid decision likely only after clarification on Article 29A

The article spells out the criteria on the basis of which a bidder can be considered ineligible to bid for assets admitted by the NCLT for resolution.

Essar Steel, Article 29A, IBC bill 2017, National Company Law Tribunal News

Monnet Ispat: Lenders to vote on Rs 3,750-crore Aion-JSW bid in 10 days

The consortium of lenders to Monnet Ispat, led by State Bank of India, are expected to complete the voting process on the sole bid received for the loss-making steelmaker from the consortium of Aion Investments and JSW Steel

Monnet Ispat, lenders, aion, jsw bid, sion bid, state bank of india News

Bhushan Steel takeover: Tata Steel bids the most, IRP confirms

All-cash offer gave it an edge over rival bidder JSW Steel; if successful would be the first large deal under IBC

bhushan steel, tata steel, steel industry, steel sector, National Company Law Tribunal News

Resolution plan: Government may amend IBC norms to reduce voting share

The 75 pct threshold is likely to be brought down to 65-66 pct.

ibc, ibc nirms, banking sector, msmes, nclt News

Bankruptcy proceedings: Essar Steel bids to be studied on Wednesday

CoC meet deferred from Monday as RP yet to get advisers’ advice; Numetal, ArcelorMittal bids ‘legally sound’

Essar Steel, steel industry, steel sector, economy News

IndusInd Bank to set up insurance, Mutual Fund subsidiaries

While an acquisition in the life insurance sector would be the most capital intensive, less capital will be required for a non-life insurance company, and a buyout in the mutual fund space would be the least capital intensiv

indusind, indusind insurance, indusind mutual fund News

Lenders may approach NCLT on bidders eligibility for Essar Steel

The committee of creditors (CoC) to Essar Steel is likely to approach the National Company Law Tribunal (NCLT) regarding the bids received as part of the steelmaker's insolvency resolution process since both the bidders – A

NCLT, Essar steel, committee of creditors, ArcelorMittal, Numetal, State Bank of India, Reserve Bank of India, Mauritius, Rewant Ruia News
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