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  • Distress Debt Resolution | Bring in the Chief Resolution Officer Mar 16, 2021 01:37 PM IST

    Distress Debt Resolution | Bring in the Chief Resolution Officer

    The Chief Resolution Officer is used extensively for restructuring in the United Kingdom and the United States, and the timing is ripe for them to be introduced to outside-NCLT debt resolution in India 

  • World's richest steel magnate LN Mittal's brother Pramod Mittal is now bankrupt Oct 22, 2020 12:47 PM IST

    World's richest steel magnate LN Mittal's brother Pramod Mittal is now bankrupt

    Pramod Mittal is 2.5 billion pounds in debt, making him the “most bankrupt” person in the United Kingdom

  • Hertz files for US bankruptcy protection as car rentals evaporate in pandemic May 23, 2020 10:46 AM IST

    Hertz files for US bankruptcy protection as car rentals evaporate in pandemic

    Hertz's board earlier in the day approved the company seeking Chapter 11 protection in a US bankruptcy court in Delaware, according to court records. Its international operating regions including Europe, Australia and New Zealand were not included in the US proceedings, the company said.

  • Vijay Mallya gets bankruptcy reprieve from UK High Court Apr 10, 2020 07:20 AM IST

    Vijay Mallya gets bankruptcy reprieve from UK High Court

    Justice Michael Briggs of the insolvency division of the High Court granted relief to Mallya, ruling that he should be given time till his petitions to the Supreme Court of India and his settlement proposal before the Karnataka High Court be determined, allowing him time to repay his debts to the banks in full.

  • Hughes India may shut shop over Rs 600cr AGR dues; move to hit banks & defence services Feb 25, 2020 02:28 PM IST

    Hughes India may shut shop over Rs 600cr AGR dues; move to hit banks & defence services

    President Partho Banerjee in a letter dated February 20 stated: “We are facing a huge demand...which by no means is serviceable by us and is in fact pushing our company towards bankruptcy and closure.”

  • Centre wants promoters to hold unlimited bankruptcy liabilities in case of criminal action: Report Dec 11, 2019 12:17 PM IST

    Centre wants promoters to hold unlimited bankruptcy liabilities in case of criminal action: Report

    The amendments are being viewed as 'fresh emergency measures', FM Sitharaman said.

  • DHFL insolvency a test (and very difficult) case for the IBC Nov 21, 2019 11:29 AM IST

    DHFL insolvency a test (and very difficult) case for the IBC

    Credibility of DHFL balance sheet, allegations of fund diversion, ED investigation and litigations could make the case murkier.

  • Haircuts for operational creditors are at par with financial creditors: Icra Jun 19, 2019 10:09 PM IST

    Haircuts for operational creditors are at par with financial creditors: Icra

    The operational creditors have been successful in maintaining their ratio of payouts because of an eye on maintaining relationships by the successful bidders in resolutions processes, ratings agency Icra said.

  • Government mulling a three-tiered debt resolution system for individual bankruptcy Jun 18, 2019 12:36 PM IST

    Government mulling a three-tiered debt resolution system for individual bankruptcy

    In a relief to a huge section of the unorganised sector and small borrowers, people with loan amounts up to Rs 35,000 and having no asset or income might get a waive off.

  • IBC: 378 companies sent for liquidation May 29, 2019 05:27 PM IST

    IBC: 378 companies sent for liquidation

    Out of 378 companies, roughly 16 percent received bids higher than the liquidation value. But the lenders rejected them due to issues with deferred payments.

  • Lenders take 57% haircut in 94 cases worth Rs 1.75 lakh crore May 03, 2019 04:45 PM IST

    Lenders take 57% haircut in 94 cases worth Rs 1.75 lakh crore

    The average resolution timeline for these 94 cases resolved was 324 days as against the stipulated timeline of 270 days.

  • 359 cases admitted for insolvency resolution in Q4; highest since rollout of IBC Apr 30, 2019 11:00 AM IST

    359 cases admitted for insolvency resolution in Q4; highest since rollout of IBC

    Financial creditors took lead in initiating insolvency proceedings in the fourth quarter.

  • Why do airlines in one of the fastest growing aviation markets bite the dust? Apr 18, 2019 09:14 AM IST

    Why do airlines in one of the fastest growing aviation markets bite the dust?

    Why Jet Airways falling off the radar is no surprise

  • Comment | Naresh Goyal plays his last card for Jet Apr 16, 2019 09:08 AM IST

    Comment | Naresh Goyal plays his last card for Jet

    With few options left Naresh Goyal has taken a desperate but smart step in trying to get a foothold in his company

  • Centre asked PSU banks to save Jet Airways, avoid bankruptcy: Sources Mar 19, 2019 02:27 PM IST

    Centre asked PSU banks to save Jet Airways, avoid bankruptcy: Sources

    The finance ministry has in the past year sought regular updates from the banks, led by State Bank of India (SBI), on Jet's financial health, the people said. In recent months, the banks have provided weekly updates about a revival plan and also sought government advice, the people added.

  • PG&E files for bankruptcy as California wildfire liabilities loom Jan 30, 2019 10:55 AM IST

    PG&E files for bankruptcy as California wildfire liabilities loom

    PG&E, which provides electricity and natural gas to 16 million customers in northern and central California and employs 24,000 people, vowed to keep the lights on and continue with critical investments it said were needed in its system's safety and maintenance.

  • Jaypee Infratech bankruptcy: Lenders may extend deadline to submit revival plan by 15 days Jan 22, 2019 07:29 PM IST

    Jaypee Infratech bankruptcy: Lenders may extend deadline to submit revival plan by 15 days

    State-owned NBCC, Kotak Investment, Singapore-based Cube Highways and Suraksha group have been shortlisted as bidders for Jaypee Infratech, which is undergoing insolvency proceedings in the National Company Law Tribunal (NCLT).

  • Opinion | Self goal of 29A harming the promise of Insolvency and Bankruptcy Code Dec 21, 2018 10:34 AM IST

    Opinion | Self goal of 29A harming the promise of Insolvency and Bankruptcy Code

    29A has yielded multiple costs and limited benefits

  • SBI, Bank of Baroda, Dena, Andhra put up NPAs worth over Rs 7,500cr for sale Nov 27, 2018 08:49 AM IST

    SBI, Bank of Baroda, Dena, Andhra put up NPAs worth over Rs 7,500cr for sale

    SBI, Bank of Baroda, Dena Bank and Andhra Bank will sell a large part of their NPAs to accounts undergoing resolution at various insolvency courts

  • Little success for banks on NPA resolution until Q2 but better results likely by March Nov 13, 2018 08:37 PM IST

    Little success for banks on NPA resolution until Q2 but better results likely by March

    Net NPAs for 36 banks have reduced by Rs 18,921 crore in the three months from July to September. During the same period, gross NPAs have reduced by a mere Rs 5870 crore

  • Bankers struggle to resolve power sector assets outside insolvency process Nov 09, 2018 07:37 PM IST

    Bankers struggle to resolve power sector assets outside insolvency process

    Bankers also await the Supreme Court verdict starting November 13 when it will hear a case filed by the power producers' association against the RBI's February 12 circular

  • IL&FS board to seek 3-5 more months from NCLT to submit resolution plan Oct 31, 2018 09:14 AM IST

    IL&FS board to seek 3-5 more months from NCLT to submit resolution plan

    The board is now considering several options, including selling stake in the company and its subsidiaries to a financially strong investor

  • Ruias re-entry for Essar Steel seen as last resort to gain control, delay process Oct 26, 2018 08:17 AM IST

    Ruias re-entry for Essar Steel seen as last resort to gain control, delay process

    Essar Steel’s promoters Ruias offered to pay Rs 54,389 crore to the company's creditors. Lawyers see this as an attempt to delay an almost-done deal.

  • Ease of Doing Business report on Oct 31; govt hopeful of jump in rankings aided by GST, Insolvency Code Oct 22, 2018 02:43 PM IST

    Ease of Doing Business report on Oct 31; govt hopeful of jump in rankings aided by GST, Insolvency Code

    A higher rank above last year’s 100 would indicate implementation of better business friendly policies

  • Sunil Hitech to go into bankruptcy motion - for excess use of Amex credit cards Sep 04, 2018 09:06 PM IST

    Sunil Hitech to go into bankruptcy motion - for excess use of Amex credit cards

    Sunil Hitech has been unable to settle its corporate credit card dues of about Rs 45 crore.

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