EPC lenders move NCLT against Mauritian bidder
In November 2019, the Mumbai bench of the NCLT approved a resolution plan by Mauritius-based Royale Partners for EPC Constructions to revive the company that was previously known as Essar Projects India. The foreign investor had offered to put in around Rs 900 crore to revive the company, which owed more than Rs 7,700 crore to its financial and operational creditors.
Lenders need to provide info on security interest
Lenders are also required to inform the central registry of any change to a security intere...
ICICI Bank Q3 results impress brokerages; here's what analysts say
Kotak Institutional Equities values the stock at Rs 615 from Rs 575 earlie...
NHPC's Rs 165-crore bid for Jal Power's 120 MW Rangit project gets lenders' nod
"NHPC Ltd has been declared as the Successful Resolution Applicant by the Committee of Creditors (CoC) of Jal Power Corporation Limited (120 MW Rangit Stage IV HE Project) subject to approval of Resolution Plan by the Hon'ble National Company Law Tribunal, Hyderabad Bench," an NHPC statement said.
Not enough EV sales yet to build viable finance plan, say lenders
Financiers said electric car sales must show up sufficiently on the dashboard for them to build a viable finance plan. For the personal buyer, car prices range anywhere between Rs 12 lakh and Rs 20 lakh. Financiers believe that the consumer would default because of the high prices, making it difficult for a financier to sell the attached vehicle.
Lanco lenders hope for some recovery from Anpara Power
Lenders expect to recover at least some of their Rs 45,263 crore dues from Lanco through the sale of this operational plant.
Lenders put cash flows of about 500 stressed companies’ under lens
In the last three months, lenders have hired agencies in Gammon, Altico, JBF Industries, Suzlon and HCC to track end use of funds. Lead banks are hiring monitoring agencies in accounts having exposure of more than Rs 250 crore.
India’s SWF gets ready to launch non-bank lender
NIIF already counts CPPIB, Abu Dhabi Investment Authority, AustralianSuper, Ontario Teachers’ Pension Plan, Temasek, Axis Bank, HDFC Group, ICICI Bank and Kotak Mahindra Life Insurance as investors in the NIIF Master Fund, along with the government of India.
Voda Idea jumps 13% as lenders expect govt intervention in AGR issue
ET NOW reported quoting agencies that Vodafone Idea and Bharti Airtel said to have seeked more time from the Supreme Court for repayment of dues.
Axis Bank Q3 results preview: Profit may jump 50%; all eyes on asset quality
In the September quarter, the bank had posted a loss of Rs 112 crore due to Rs 2,138 crore DTA hit.
Lenders hope govt steps in to prevent AGR from becoming Voda Idea’s breaking point
The banking sector’s total exposure to the telecom sector is around Rs 1.5 lakh crore.
RBI should act as lender of last resort, provide liquidity to NBFCs: SBI
In its report on Budget expectations, the economists said RBI should "seriously think" of providing liquidity to NBFCs against the assets held by the lenders. "Given the crisis of confidence in the financial markets, it is imperative that central banks don't forget their primary function of being the lender of the last resort," they said.
Lenders hope government steps in to prevent AGR from becoming Voda Idea's breaking point
Banks have no liability to telecom companies linked to the AGR order because these do not form a part of the guarantees they have given. However, any cash outflow due to these payments could severely dent debtheavy service providers such as Vodafone Idea.
Ex-billionaire Mallya let French mansion rot, lender charges
Vijay Mallya faces extradition to India on fraud charges. He was granted permission to appeal, which will be heard in February. Once known as the “King of Good Times” in India, he was arrested in London in April 2017 after 17 banks accused him of willfully defaulting on the debt accumulated by the airline, which shut in 2012.
What's in a name? A lot, say lenders being merged
Chennai-based Indian Bank is anchoring the merger with Allahabad Bank.
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