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