Terms set for DHFL liquidation after big loss
India’s bankruptcy courts attempt to resolve its first shadow bank insolvency.
Thapar Group’s BILT in bankruptcy court
IDBI Bank has the largest exposure to the company with Rs 400 crore of loans outstanding.
Bankruptcy board set to tackle group insolvency
Bringing entities on the basis of inter-connectedness or common assets into the group resolut...
LIC’s Rs 11,000-crore exposure to DHFL, Reliance Cap, Sintex defaults in H1 FY20
With AUM of Rs 30 lakh crore, LIC is the largest domestic institutional investor.
DHFL posts net loss of Rs 6,641 crore in July-September period
It had posted consolidated net profit of Rs 439.51 crore in the year-ago period.
Insolvency against Raheja Developers halted, Board to manage
The developer had moved the appellate tribunal after the National Company Law Tribunal (NCLT) held the company to be in default of its obligations to two home buyers who had approached the tribunal.
Centre standing on brink of bankruptcy: Yashwant Sinha
Former BJP leader Yashwant Sinha asserted that the economy was passing through its "worst-ever crisis" due to the "death of demand" in sectors. He was speaking on the sidelines of his "Gandhi Shanti Yatra" against Citizenship Amendment Act (CAA) and National Register of Citizens (NRC). Sinha served as finance minister of India during 1998-2002.
New payments formula for creditors in the works
Liquidation amount would be distributed to company’s creditors in accordance with the “waterfall” mechanism set out in Section 53 of Insolvency and Bankruptcy Code, as per the plan. Under this mechanism, all claims of secured financial creditors must be fully paid before payments are made to unsecured financial creditors, who must in turn be fully paid before operational creditors.
Global investors ready with $3 billion kitty to enter India’s credit market
Many global investors are looking for the first time to deploy $3 billion into India’s credit market, especially the structured credit segment.
Trades in junk bonds touch a new record
DHFL bonds were traded in two tranches on Thursday and Friday last week at 80-73 per cent discounts.
Siddaramaiah slams Centre for pushing Karnataka to bankruptcy
This week, the Central government approved second installment of Rs 699 crore for the flood relief work. With it, the total compensation amount for the state so far is Rs 1,869 crore, which both Chief Minister B S Yediyurappa and former CM Siddaramaiah have said is inadequate.
Jet Airways to sell Netherlands business to KLM
Once India's biggest private carrier, Jet stopped flying in April after running out of cash, leaving thousands without jobs and pushing up air fares across the country. Shares of Jet Airways were trading 4.92 per cent lower than their previous close on BSE at Rs 45.40 apiece.
Sachin Bansal buys DHFL General Insurance
Flipkart co-founder Sachin Bansal’s bet on the insurance firm is part of his broader ambition in financial services industry.
DHFL creditors to meet on Monday for discussing resolution
The third-largest pure play mortgage player is the first non-banking financial company or housing finance company to face the corporate insolvency resolution process. The Mumbai bench of NCLT had admitted the company for insolvency resolution on December 2 and appointed IOB's former MD and CEO R Subramaniakumar as the company's administrator.
Home buyers file plea in SC challenging Insolvency & Bankruptcy Code amendment
"The writ petition has been filed by 11 petitioners of 11 projects being constructed by Pioneer Urban Land & Infrastructure, Emaar MGF Land, BPTP, Supertech, Ansals, among others," said advocate Aditya Parolia of PSP Legal, representing the buyers.
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