The Kolkata bench of the National Law Company Tribunal (NCLT) will hear State Bank of India’s (SBI) application to admit the case of insolvency proceedings against Electrosteel Steels Ltd, among the 12 cases identified...
Here are 9 ways for banks to raise capital to tackle NPAs
Strike at the root, and the branches will fall. Maratha warrior Peshwa Bajirao followed the adage to remain undefeated throughout his life time. But the Indian banking system, caught in a fierce battle with non...
Bankruptcy tribunal initiates action against Jyoti Structures
The Mumbai bench of National Company Law Tribunal (NCLT) on Tuesday cleared bankruptcy proceedings against Jyoti Structures after the company failed to repay dues worth Rs 7,000 crore to Indian banks. The company was...
NCLT to rule on Jyoti Structures insolvency case on Monday
The National Company Law Tribunal (NCLT) will rule on Monday on the first of the four cases referred to it under the Insolvency and Bankruptcy Code (IBC). The tribunal reserved its order on Thursday after it heard the...
Sebi eases M&A norms for distressed firms
The Securities and Exchange Board of India (Sebi) relaxed some rules on Wednesday to hasten the resolution of stressed assets in bank balance sheets. The regulator has exempted buyers of shares in distressed companies...
Banks to discuss RCom debt restructuring proposals today
Lenders to Reliance Communication Ltd (RCom) have convened a meeting on Friday to discuss restructuring proposals for the debt-ridden telecom firm, said two bankers directly involved in discussions. On Thursday, ratings...
GTL Infrastructure stake sale likely to value firm at Rs11,000 crore
A stake sale in GTL Infrastructure Ltd could see the telecom infrastructure firm valued at more than Rs11,000 crore, two people aware of the development said. The company is likely to be valued at about 11 times its...
JSW Steel makes offer to buy controlling stake in Monnet Ispat
Sajjan Jindal-led JSW SteelBSE -0.03 % has made an offer to buy controlling stake in Monnet IspatBSE 1.38 % & Energy Ltd through the strategic debt restructuring (SDR) route. The company is undergoing SDR and...
JSW Energy’s buyout plans for Bina power plant stuck
JSW Energy Ltd’s plan to buy the 500 mega-watts (MW) Bina thermal power plant from Jaiprakash Power Ventures Ltd may come unstuck as the latter’s lenders have invoked strategic debt restructuring (SDR), according to two...
Lenders plan debt recast of Ballarpur Industries unit
Lenders to paper maker Ballarpur IndustriesBSE -0.89 % (BILT) have proposed to invoke strategic debt restructuring (SDR) and seize control of the flagship unit of the company that contributes as much as 85% of the...
Monnet Ispat’s lenders restart stake sale process
Lenders to Monnet Ispat and Energy Ltd have restarted the process of selling a majority stake in the company, according to an advertisement posted by SBI Capital Markets on its website. This is not the first time that...
Essel Infraprojects in talks to buy IVRCL unit
Essel Infraprojects Ltd is in advanced talks to buy a controlling stake in Hindustan Dorr-Oliver (HDO), a publicly traded unit of debt-laden infra developer IVRCL Ltd, two people with direct knowledge of the matter said...