The Reserve Bank of India (RBI) has, for more than three weeks, been checking for stressed assets on banks’ books to ensure no “weak” account goes unnoticed in the current round of resolutions, bankers told FE.
More than 120 wilful defaulters owe public sector lender IDBI Bank Rs 5,372 crore as on May 16, 2018. Of this, the top 10 have unpaid loans of Rs 3,717 crore or around 70% of the amount.
More than 4,000 borrowers with outstanding loans of Rs 1.2 lakh crore have defaulted under the Reserve Bank of India’s (RBI) one-day default norms as on April 30.
Going by the recent order on Alok Industries from the National Company Law Tribunal (NCLT), it would appear State Bank of India (SBI) has no objection if the resolution plan is not put to vote again. When the plan was voted o
Write-offs by banks for loans disbursed to the priority sector—primarily agriculture, MSMEs and smaller homes—account for about a fourth of all write-offs. The remaining 75% or so relates to loans given to companies—wor
While banks have made provisions for these assets, in keeping with the Reserve Bank of India’s rules, they may need to written off some of the loan amount.
The appellate tribunal noted the chairman/managing director/director of RCom would undertake to pay Rs 550 crore to Ericsson within 120 days. The company has time till September 30 to repay Ericsson and in case of non-payment
SBI has reported a loss of Rs 7,718 crore, for the three months to March, the lender’s second consecutive quarterly loss in FY18. The losses resulted from a spurt in provisions, largely for loan losses, along with mark-to-m
Monnet Power, promoted by the Jajodia family, is up for sale. Monnet Power is an 88% subsidiary of Monnet Ispat, which has been bid for and won under the Insolvency and Bankruptcy Code (IBC) process by the JSW Steel-Aion Inve
According to a document seeking bids, IDBI Bank had sought to sell the four floors in February this year. The document added that while the third-fifth floors are occupied, the second floor is vacant.
Led by Power Finance Corporation (PFC), lenders to KSK Mahanadi Power — a thermal power project of KSK Energy Ventures in Chhattisgarh with debt of Rs 18,551 crore — are seeking a buyer for the project, a document invitin
Borrowers too, he said, should realise they must meet payment obligations as per the contract and it is no longer enough to pay up only by 60/90 days past the due date.
The bankrupt Jyoti Structures might find a buyer and not go into liquidation as feared with the committee of creditors (CoC) having sought a grace period.
Banks have requested the RBI for some leniency in its February 12 circular on resolution of stressed assets and have sought — among other things — increasing the default period to 30 days from only a day right now.
Upping the ante in the fight for Essar Steel, Numetal is trying to get control of Odisha Slurry Pipeline Infrastructure (OSPIL) by repaying Odisha Slurry’s dues to lenders.
They have sought bids to be submitted by early next week so that they can try and stitch together a final plan and prevent the company from going into a forced liquidation.
