PFC to close resolution plans of 5 stressed assets in 1 month: CMD

Power Finance Corporation said Wednesday the worst was behind for stressed power assets and it would finalise resolution plans with five struggling projects with an exposure of Rs 8,254 crore in one month.

Banks need to take 40-60% haircut to get RP4 rating: Report

PTI | Sep 12 2018

With bad loans worth over Rs 50,000 crore under RBI's independent credit evaluation (ICE) framework, a report said that banks need to take a haircut of 40-60 per cent to have a rating of RP4 for implementation of any resolution plan.

ArcelorMittal's raised offer for Essar Steel knocks shares

REUTERS | Sep 11 2018

ArcelorMittal shares fell more than 2 percent on Tuesday after the world’s largest steelmaker said it had raised its offer for India’s Essar Steel, prompting concerns that it was overpaying.

OBC approaches NCLT to initiate insolvency proceedings against Simbhaoli Sugars

PTI | Sep 10 2018

Oriental Bank of Commerce has approached the National Company Law Tribunal (NCLT) to initiate insolvency proceedings against debt-ridden Simbhaoli Sugars.

Two independent directors of Jaypee Infratech resign

PTI | Sep 10 2018

Jaypee Infratech Ltd, which is facing insolvency proceedings, Monday said that the company's two independent directors -- Keshav Prasad Rau and Basant Kumar Goswami -- have resigned.

NCLT approves merger of LuK India, INA Bearings with Schaeffler India

PTI | Sep 08 2018

Schaeffler India Saturday said the National Company Law Tribunal (NCLT), Mumbai, has cleared amalgamation of the two group companies -- INA Bearings India and LuK India -- with itself.

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