Sarfaesi Act

Though the bank said it will auction the actor’s villa in Mumbai’s Juhu on September 25, it withdrew the notice as a case was pending before a magistrate’s court and the actor had approached the bank to settle the dues.

About 5,200 companies with credit exposure of over Rs 5 crore declared as NPAs till December 2021: MoS Finance Bhagwat Karad

Scheduled commercial banks (SCBs) and All Indian Financial Institutions report certain credit information of all borrowers having aggregate credit exposure of Rs 5 crore and above to the RBI, under its CRILC database, since the quarter ended June 2014, Minister of State for Finance Bhagwat Karad said.

Citizens' Cooperative Bank reports profit of Rs 2.86 lakh for 2020-21

The bank, under the management of the Board of Administrators, initiated action against the defaulters under provisions of the SARFAESI Act and were able to recover Rs 685.81 lakh in NPA accounts during 2020-21, out of which recovery of Rs 273.26 lakh was made in March itself.

Canara Bank to auction 2,000 borrower properties this week

The properties being put up for auction are spread across cities, including Delhi, Mumbai, Kolkata, Bengaluru and Chennai, and also other semi-urban pockets, the statement said.

Provision of SARFAESI Act empowering DMs to attach secured assets of borrowers directory: SC

Justice Gupta, writing the judgement, said the SARFAESI Act was enacted to provide a machinery for empowering banks and financial institutions, so that they may have the power to take possession of secured assets and to sell them.

RBI rejects resolution plan to sell Aircel's assets to UVARC: Report

The RBI said the Aircel resolution plan did not conform to the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act, 2002

Suspension of IBC: It’s a half-baked solution to ease financial stress

Even in developed jurisdictions, none have suspended ability of debtor companies to submit themselves to the insolvency process

SEBI to take up options trading in commodities, unified licence for brokers at Apr 26 meet

SEBI is keen on delivery-based options in commodities, said a source familiar with the development.

SEBI norms for listing security receipts of ARCs likely by Nov

The Securities and Exchange Board of India has begun drawing up a roadmap for listing and trading of security receipts issued by a securitization company or asset reconstruction company, on stock exchanges. The regulator is seeking the inputs of the Reserve Bank of India in framing the regulations.

Parliament passes bill for easier debt recovery

The Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016, will not, however, apply to loans for agricultural land as well as student loans.

Lenders lower reserve price of Kingfisher House to Rs 135 cr

Three months after they failed to sell Kingfisher House, erstwhile headquarters of the defunct Kingfisher Airlines, the lenders have once again put up the property for auction with a lower reserve price of Rs 135 crore so as to part-recover their loans

Lenders begin process to take over Kingfisher Villa

Lenders to the grounded Kingfisher Airlines on May 13 started the process to take physical possession of Kingfisher Villa, which was pledged by beleaguered businessman Vijay Mallya to the bankers as collateral for over Rs 7,800-crore loan

Revision in DRT & Sarfaesi Act to boost loan recovery: HR Khan

Government amendments in these two acts will improve the recovery climate in the country, says HR Khan, Deputy Governor of The Reserve Bank of India.

Panel on PSU banks' consolidation on anvil: Arun Jaitley

An expert panel will be set up shortly to devise a strategy for consolidation of public sector banks as India needs stronger lenders rather than a "numerically large number" of them, Finance Minister Arun Jaitley said.

KFA House auction may start post March 23

State Bank of India has mandated Knight Frank to sell property to an industrial house. SBI values the property at about Rs 95 crore. A total of 17 banks have exposure of Rs 7000 crore to KFA. SBI has an exposure of Rs 2000 crore.

Awaiting CSO estimates, Budget, inflation data: Violet Arc

Sanju Verma, CEO, Violet Arc Global believes no governor can tackle both inflation and exchange rate at the same time and Raghuram Rajan is trying to do just that. "If governor doesn‘t want the rupee to appreciate any further then he will have to allow inflation to rise or vice-versa."

Bring NBFCs under SARFAESI Act: Study

Non-banking finance companies should be brought under the ambit of the SARFAESI Act to enhance investor confidence and ensure robust growth of the financial services sector, a study has said.

Balance Dues: Secured Creditors Get A Fresh Lease Of Life!

By: Krishnayan Sen, VERUS Advocates

Asset reconstruction co can convert debt into equity: RBI

Such companies are required to obtain, for the purpose of enforcement of security interest, the consent of secured creditors holding not less than 60 percent of the amount outstanding to a borrower as against 75 percent at present.

Corp bond mkt can reach 15% of GDP in 12th Plan: CII

The survey said 29 per cent of the respondents estimated the actual potential of corporate bond market to be 10-12.5 percent of GDP while 14 percent of them believe the level to be at 7.5 -10 percent.

Infrastructure debt funds (IDFs) get powers to recover debt

The government envisages Rs 56.3 lakh crore (about USD 1 trillion) investment in the infrastructure sector during the 12th Five Year Plan period.

Risks in lease rental discounting loans: Fitch Ratings

Fitch Ratings has come out with its special research report on 'risks in lease rental discounting (LRD) loans'. As per the rating agency the failure to appreciate the inherent risks of LRD loans may leave market participants exposed to stress in commercial rental market in an economic downturn.