Debt Resolution

The government has done really well on the fiscal front, but any ambiguity about the future path could put the hard-won gains at risk

Yes Bank classified the ₹273-crore loan to JRTR as an NPA after prolonged losses, which impaired timely repayments

Country's largest steel player SAIL, which has a debt of nearly Rs 27,000 crore, has managed to bring down its debt by around Rs 750 crore last year and is planning to reduce it further, a senior company official said. "Today, the debt is around Rs 26,800 crore... and we're planning to reduce it further in this financial year. Last year also we reduced by around Rs 750 crores. "And now we are planning to reduce month-on-month," SAIL (Steel Authority of India Ltd) Director Finance Ashok Kumar Panda said during Q4 & FY '25 Conference Call. And going forward, when the capex will increase, the company will have two-pronged approach, he said. "Number one, we'll try to increase our profitability. So from internal accruals, we'll be able to compensate a part of the requirement. "And the rest part we will line up other instruments available for getting the fund... Our debt-to-equity ratio is good enough to take care of these two aspects going forward," he explained. SAIL has a capex ...

Embassy Office Parks REIT has raised Rs 2,000 crore debt to refinance its existing borrowings and save interest cost. In a regulatory filing on Tuesday, Embassy REIT informed that the company has raised Rs 2,000 crore of coupon-bearing debt at an interest rate of 7.21 per cent for a 3-year tenure. The proceeds will be used to refinance certain existing debt and will save around 77 basis points (bps) in interest costs compared to the current rate, the company said. Embassy REIT said it witnessed a robust demand from institutional investors with 11 different investors participating in the issue of NCDs (Non-Convertible Debentures). Ritwik Bhattacharjee, Chief Executive Officer of Embassy REIT, said, " This transaction showcases Embassy REIT's fortress balance sheet and reinforces our standing as the leading credit in India's commercial real estate sector. We maintain a well-diversified and conservative debt book, and this refinancing positions us well to capitalise on future growth .

The platform, formerly known as Twitter Inc., posted $91 million in revenue tied to data licensing and subscriptions in February, a 30 per cent increase from a year earlier

The consumer loan provider has sought the Reserve Bank of India's approval to set up a primary dealership, for which it plans to launch a separate entity

A corporate debtor, under IBC, is a company or LLP that owes a debt to any person. A successful resolution applicant is a person or entity whose resolution plan is approved by lenders and NCLT

Rezolv claims to simplify collections by centralising data and optimising workflows. It utilises AI analytics to improve recovery rates

The rating agency expressed confidence in India's ability to stick to its medium-term fiscal framework and keep debt firmly on a downward path

Recoveries will need to come from how Indian courts rule on the company's broader insolvency plan and how it aims to repay creditors; it's unclear how much, may be available to those in US

Markets regulator Sebi on Monday directed Credit Rating Agencies (CRAs) to verify the issuer's fund availability and ascertain the reasons for payment failure in cases where non-payment of debt arises due to factors beyond the issuer's control. Also, CRAs have to ensure that the required payments are deposited into an escrow account on the due date in these cases. These additional guidelines have been introduced to address scenarios of non-payment of debt (principal or interest) caused by factors beyond the issuer's control. These factors include issues such as incorrect investor account details, outdated payment information, or government-mandated account freezes. "It has been decided that in the aforesaid scenario, the CRA shall confirm and verify the availability of adequate funds with the issuer and also confirm and verify the proof of failure of the required payment of debt (principal and/ or interest) and the reasons for failure," Sebi said in its circular. Additionally, CRA

The projection shows the developer expects a weaker cash flow in coming years compared with the estimates it had shared

Vodafone Idea owes Rs 70,320 crore in AGR-related dues, a liability that it is struggling to meet, especially after the Supreme Court's dismissal of its petition

At roundtable in Washington DC, she cautions against contingency financing instruments

The Sri Lankan government has announced a long-delayed debt restructuring agreement with its sovereign bondholders, in a major relief to the cash-strapped island nation. In a statement on Friday, the Ministry of Finance said it reached an agreement with representatives of its international and local holders of International Sovereign Bonds (ISB) on September 19. Sri Lankan authorities have "completed their consultations with Sri Lanka's Official Creditor Committee (OCC) and the IMF (International Monetary Fund)," said the statement from the Treasury. It added that the agreement is compatible with the comparative treatment principle. The announcement came as the new National People's Power (NPP) government led by President Anura Kumara Dissanayake expressed willingness to accept the agreement during the talks held with the visiting IMF delegation here in Colombo on Thursday and Friday. During the two days of talks, Dissanayake reiterated Sri Lanka's position that some of the rigid

Here are strategies borrowers looking to escape a debt trap can adopt

Debt-ridden state-run telecom firm MTNL has sought Rs 1,151.65 crore for payment of interest arising out of sovereign guarantee bonds in the current fiscal, Parliament was informed on Thursday. Minister of State for Communications Pemmasani Chandra Sekhar in a written reply to the Rajya Sabha said the government has in fact taken various steps for revival of MTNL and BSNL in 2019 and 2022 that include revival package to both companies. "Mahanagar Telephone Nigam Limited (MTNL) has sought Rs 1,151.65 crore to meet the payment of interest on Sovereign Guarantee Bonds for Financial Year 2024-25," Sekhar said. The minister was replying to a question on demands of funds by MTNL from the government to pay interests on debt obligations, details of the demand and the reasons for the state-owned telecom company MTNL making losses. He said the government allocated Rs 69,000 crore in the first revival package in 2019 to BSNL and MTNL that brought down operating costs. "In 2022, revival packa

As of March 2024, Tata Power's consolidated debt stood at Rs 49,480 crore

President Ranil Wickremesinghe on Tuesday said substantial progress" has been achieved in Sri Lanka's debt restructuring, which he said provided the much-needed breathing space for the cash-strapped country to transform its bankrupt economy into a resilient and stable one. Briefing Parliament on the country's resulting benefits of the correct course of action, President Wickremesinghe also countered the Opposition's criticism of the debt restructuring agreement with major bilateral creditors and promised to table all agreements and documents related to it to a Parliamentary panel. In April 2022, the island nation declared its first-ever sovereign default since gaining Independence from Britain in 1948. The unprecedented financial crisis led President Ranil Wickremesinghe's predecessor Gotabaya Rajapaksa to quit office in 2022 amid civil unrest. Earlier last week, President Wickremesinghe announced that debt restructuring agreements were finalised with bilateral lenders, including ..

The cash-strapped South Asian country inked deals with China and other creditor nations to restructure about $10 billion