Tag: IBC
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Allahabad Bank focuses on recovery, refers 65 NPA accounts to IBC
Kolkata : State-run Allahabad Bank, which referred 65 stressed accounts involving around Rs 12,566 crore to the NCLT for IBC resolution during last fiscal, is focusing on recovery and rebalancing its loan book with emphasis on small, micro, agriculture and retail advances. The lender also said the number of “wilful defaulters” declared by the bank…
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New ordinance will eliminate ‘fly by night’ operators, formalise real estate: Jaitley
New Delhi : Union Minister Arun Jaitley on Friday said the new ordinance amending the Insolvency and Bankruptcy Code (IBC) to treat home buyers as financial creditors will eliminate “fly by night” operators and will force the real estate industry to eventually formalise itself. Listed as “minister without portfolio” in the Prime Minister’s official website,…
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BSE initiates IBC proceedings against seven companies
Mumbai : Stock exchange major BSE on Tuesday filed proceedings under the Insolvency and Bankruptcy Code (IBC) 2016 against seven listed companies for failing to pay the “Annual Listing Fees” (ALF) in spite of “advance intimation, reminders and grant of sufficient time in the past few years”. According to the BSE, there are about 130…
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Bankers bet on IBC, NCLT process to solve bad loans problem
Kolkata : Bankers on Saturday said they are betting on the Insolvency and Bankruptcy Code and the process of National Company Law Tribunal for getting quick resolutions in order to solve the problems of bad loans. “The Insolvency and Bankruptcy Code, 2016 is a game-changer,” State Bank of India’s Managing Director (National Banking Group),Rajnish Kumar…