Lenders to set threshold for sale of distressed assets under IBC
The trigger for an internal benchmark was an observation made by the NCLT on the resolution plan offered by Twin Star Technologies, owned by billionaire Anil Agarwal, for Videocon Industries and 12 group companies.
Cerberus, Oaktree and JC Flowers shortlisted for Yes Bank’s planned ARC
Cerberus is said to be the frontrunner. Process advisor EY had indicated that applicants ready to infuse Rs 1,500-2,000 crore would be given preference
SSG Capital co-founder Shyam Maheshwari resigns, to leave at end of 2021
Shyam Maheshwari decided to step down in July to spend more time with his family and pursue personal interests including philanthropy, the company said
JBF Petro lenders get two offers for $463.38 million of outstanding loans
The bids by Asset Care & Reconstruction Enterprise and Dubai-based Citax Energy equate to 35 paise and 41 paise, respectively, on the rupee
Lenders reject Srei’s standstill appeal; company moves a step closer to bankruptcy
Any resolution through IBC for a finance company has to be routed through the RBI in line with the regulations.
Silver Point, partner Acre declared highest bidder for IVRCL Chengapalli Tollways loans
The partners offered Rs 624 crore for loans of Rs 804 crore. In addition, the successful bidder must pay Rs 315 crore in deferred premium to the National Highways Authority of India
Andhra Cements’ lenders get bid for loans from Pridhvi Asset Reconstruction
The stressed cement company’s loans will be auctioned on October 20 and Pridhvi will have the right to match higher counteroffers
Andhra Cements debt resolution process to start anew on poor response from bidders
Fresh round to invite offers for loan facilities of the company instead of physical assets
Lone Star-Rattan settlement talks over NBFC JV deadlocked
The US PE fund and Rajiv Rattan have negotiated a price for the former’s exit from RattanIndia Finance, but talks stuck on Lone Star withdrawing legal case against Rattan.
Matix Fertilisers & Chemicals settles Rs 4,500-crore debt with lenders outside NCLT ambit
In one of the largest recent OTS deals, Matix, an ammonia and urea producer founded by Nishant Kanodia, son-in-law of Essar Group co-founder Ravi Ruia, settles entire debt with creditors such as SBI, IDBI Bank and others.
DHFL lenders to get payment from Piramal this week
Creditors of Dewan Housing Corporation Ltd (DHFL) are all set to receive money, as early as this week, from Piramal Capital and Housing Finance Limited, a unit of Piramal Enterprises.
Aditya Birla, Kotak backed ARCs among 12 interested in Rs 1,597 crore SBI loan to Coastal Energen
Investors may be lining up for stressed thermal power assets on expectations of favourable valuations during acquisitions.
Exclusive | Varde Partners-Aditya Birla ARC highest bidder for debt of KSK Mahanadi Power
Upon acquiring the debt of Punjab National Bank, Varde Partners and Aditya Birla ARC would jointly hold nearly 20 percent of KSK Mahanadi’s Rs 29,197 crore total admitted claims from financial creditors, sources said.
What explains the surprise rally in Indian bonds?
The rally in the government bond market at a time when real interest rates are negative might seem incongruous, but with the market flush with liquidity and no sign of inflation-fuelling demand, the party may continue
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