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About 24 results for "debt recovery tribunal"

Bad news for debt defaulters; PNB draws up list in addition to RBI's
MSN India

Bad news for debt defaulters; PNB draws up list in addition to...

Punjab National Bank is drawing up a list of defaulters it plans to refer to the National Company Law Tribunal (NCLT), in addition to the list it has received from the Reserve Bank of India, to expedite its bad loan recovery process, a senior official with ... MSN India, 1 month ago
Rediff.com

Why banks are uncomfortable with bankruptcy code

Recent tribunal rulings open prospects of large haircuts and barriers to auctioning of personal guarantees, among other issues Are banks getting boxed in after the introduction of the Bankruptcy Code? Some signals seem to be pointing that way. Not only are they looking at prospects of steep haircuts (write-offs) on their loans, the Code would also mean banks losing their business to the bond market.   The Code is also upsetting the traditional rules of the games, where banks sold the ...
 Rediff.com2 weeks ago
Sify

Banks may need 20% extra provisioning for 50 top bad debts: Study

New Delhi: Banks may require an incremental provisioning of 20 per cent against cumulative debt totalling over Rs 4.3 lakh crore of the 50 large bad debts or stressed assets in construction, power, metals, and other sectors, a study released on Thursday said.
 Sify2 months ago
Rediff.com

Supreme Court opens new door in debt battles

Since the inception of the code, the threat of insolvency has brought many debtors in line The recent Supreme Court order allowing a settlement between parties even after initiation of insolvency proceedings has given new food for thought to bankers, debtors and professionals in this segment. The move, say some, could give an undue edge to some creditors over others to negotiate a better deal for themselves. Some others see it as needed relief. The apex court’s recent decision came in a ...
 Rediff.com2 months ago

SC restrains Amrapali group promoters from leaving country

Tightening its noose around real estate major Amrapali Group, the Supreme Court today restrained its promoters from leaving the country without its permission in a bid to secure the interests of hassled homebuyers. A bench headed by Chief Justice Dipak Misra ...
 Deccan Herald1 week ago
Rediff.com

Shell companies feel the heat as govt banks on AI to nab them

'The drive against shell companies will not scare businesses. Rather, it will boost ease of doing business.' 'Chartered accountants are primarily auditors who report a company's finances. This is why it is important for us to monitor them.' 'Restriction on subsidiaries would ensure that multiple layers of companies are not used for money laundering.' Illustration: Uttam ghosh/Rediff.com P P Chaudhary, bottom, left, the newly-appointed minister of state for corporate affairs, is monitoring and ...
 Rediff.com3 weeks ago
Rediff.com

Modi, Jaitley must fix the economy jat pat!

'The hour is very late, and the choice between triumph and tragedy knocks at our door,' says Ajay Shah.Illustration: Uttam Ghosh/Rediff.com High- and low-productivity firms manage to coexist in India when low-productivity firms cheat on compliance. To the extent that a sound GST improves compliance, many low-productivity firms will exit. A sound GST will also disrupt many vertically integrated firms and we will see more trades between specialised industries. The banking crisis has slowed the ...
 Rediff.com3 weeks ago

'Stakeholders may pursue insolvency cases with court, not DRTs'

Stakeholders, who intend to pursue their insolvency cases, need to approach appropriate authority or a court under the existing enactments, instead of approaching the Debt Recovery Tribunals, the Finance Ministry announced on Tuesday.
 Business Standard1 month ago Stakeholders who intend to pursue their insolvency cases may approach appropriate authority/court under the existing enactments, instead of approaching the Debt Recovery Tribunals (DRTs).  Business Standard1 month ago Stakeholders may pursue insolvency cases with court, not DRTs  Prokerala1 month ago Stakeholders who intend to pursue insolvency cases may approach appropriate authority/court under existing enactments, instead of approaching DRTs  Business Standard1 month ago

Resolution professional, others booked for cheating hotelier

A case has been registered against 10 people, including a resolution professional and officials of a private securitisation company, for allegedly cheating a luxury hotel owner in Jaisalmer in Rajasthan. The Jaipur police said that on a complaint lodged by ...
 Business Standard2 months ago
Sify

Wait to judge effectiveness of mechanism on bad debts: Jaitley

Mumbai : Previous laws were only partly effective in resolving the problems of insolvency and bankruptcy in the corporate world and one would have to wait to judge the effectiveness of the current mechanism to deal with the issue, Finance Minister Arun ...
 Sify2 months ago
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