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Vinod Rai writes to FM, PMO on bad loans, suggests roadmap

Expressing concerns over mounting bad loans, Banks Board Bureau (BBB) Chief Vinod Rai has written to Finance Minister Arun Jaitley and Prime Minister's Office underlining the tardy progress made by state-owned lenders in resolving the issue of Non Performing Assets.

ICICI Bank-led consortium to find buyer for ABG Shipyard

After invocation of SDR (Strategic Debt Restructuring) in October last year, a consortium of 22-lenders took control of 51 percent stake in the company, which has loan dues worth Rs 16,400 crore.

Diamond Power lenders approve Rs 1,200 cr infusion under SDR

"The company would like to inform its shareholders that lenders in their meeting in-principally agreed, subject to approvals of various authorities, towards the proposal received from CKP Group to infuse Rs 1,200 crore under SDR scheme," Diamond Power Infrastructure said in a BSE filing.

Foreign interest in stressed assets but framework needed: Moelis

Speaking to CNBC-TV18, Manisha Girotra of Moelis India said that India urgently needs capital and restructuring of stressed assets should be undertaken through any means possible.

Jaiprakash Power up 5% on buzz of power units sale to Brookfield

According to a media report, Brookfield was involved in initial stage talks with the power company to sell these plants of 4,000 MW. The deal could prescribe equity value at Rs 4,500-5,000 crore.

Are Acharya's words a call to action for banks?

In some "tough love" shown to banks by the Reserve Bank of India on Tuesday, while bankers are yet to digest the suggestions, it could well be a turning point for the public sector banks.

Bank GNPAs may rise to 16-17% of loans in 1-2 yrs: Credit Suisse

At the end of Q3, a whopping 41 percent of corporate debt is with companies whose earnings are less than their interest outgo. Credit Suisse's MD and Head of Research Ashish Gupta shares his detailed analysis with CNBC-TV18's Latha Venkatesh on a special show - Indianomics.

Pratibha Industries rises 16%, to issue shares to its lenders

The company's board meeting is scheduled to be held on January 4, 2017 to consider and approve, the issue and allotment of shares on preferential basis to the lenders of the company under strategic debt restructuring (SDR) scheme.

IFCI-led consortium puts Sravanthi Energy on the block: Sources

IFCI, Axis Bank, PNB, Canara Bank, IOB, SBM are among the lenders to the company. Sravanthi Energy has a 450 MW thermal power project in Uttarakhand and the company has a debt of over Rs 1,320 crore and is already declared as a non-performing asset (NPA).

Khaitan Electricals' lenders go for debt restructuring

Lenders of household appliances maker Khaitan Electricals have invoked strategic debt restructuring and has fixed August 17, 2016, as reference date for the exercise.

Rs 1170 cr of standard loans may face stress: South Indian Bank

In an interview to CNBC-TV18, VG Mathew, MD & CEO of South Indian Bank spoke about the results and his outlook for the company.

ABG Shipyard shareholders reject lenders invocation of SDR: Srcs

The lenders have written to the RBI to give them more time to turn the company's debt into equity citing the fact that there are legal restrictions.

ABG Shipyard board approves restructuring of debt

The Board has approved the Strategic Debt Restructuring (SDR) invoked by CDR Lenders, it said in a regulatory filing.

Diamond Power board approves debt restructuring proposal

"The board of directors of the company at its meeting held on July 21, 2016,.. has discussed and approved SDR proposal initiated by the banks," the company said in a BSE filing.

RBI official asks rating agency to be more transparent

Rating agencies need to be more transparent in disclosures on stressed companies and assets so that both the lenders as well as asset reconstruction companies can arrive at the right valuation, a senior Reserve Bank official said on July 1

ICICI proposes SDR for JP Asso; hurdle for JP-UltraTech deal

If the company goes under SDR, it could put a cloud on the future of the UltraTech deal -- where the lenders would want to sell assets following a fresh round of competitive bidding.

Jaypee account an NPA, banks may invoke SDR: SBI official

Amid reports that lenders may take majority control of the debt-laden Jaiprakash Associates, a senior SBI official on July 1 said it has classified the account as an NPA and lenders will soon meet to take a call on invoking Strategic Debt Restructuring (SDR) provisions

New RBI scheme has flaws, but will curb fresh NPAs: Crisil

RBI's new scheme to deal with stressed assets has some shortcomings but it will help large corporates and limit new additions to non-performing assets by banks, rating agency Crisil said on June 15

IVRCL climbs 9% after allotting shares to Bank of Nova Scotia

"Pursuant to provisions of Companies Act, 2013 and Sebi (Issue of Capital Disclosure Requirement) Regulations, 2009 and implementation of SDR, the company has made an allotment of 6,46,810 equity shares at a price of Rs 8.765 each, to Bank of Nova Scotia," it said in a regulatory filing.

RBI to announce new framework for debt restructuring soon: Srcs

The new guidelines will not enforce change in management control and is set to help existing promoters in revival of company. The new rules will also allow deep restructuring of the debt.

Alok's lenders fail to finalize buyers owing to legal trouble

HSBC case running in Bombay Hugh Court has been the major hindrance to the deal, where the HC has barred Alok Industries from stake sale or equity infusion until a petition filed by HSBC is settled.

Buyers for stressed assets hard to find: ICICI Bank

Strategic debt restructuring is a useful tool, said Kochhar, adding, the bank has successfully managed to find a buyer for one of the companies it had invoked the restructure for.

India's floundering bk debt-for-equity deals a warning for China

Indian banks have either taken over or are in the process of seizing majority control in 18 firms with a combined debt of about USD 15 billion, under a central bank plan that allows them to swap the companies' debt for equity and freeze non-performing loans, brokerage Religare Capital Markets estimates.