The appellate tribunal said it found "no merits" in HDFC's petition and said that non-bank financial lenders come under the purview of the Reserve Bank of India
Creditors say they realise that the insolvency process it is not just recovery legislation for lenders, but an effective resolution mechanism for corporate debtors
Claims totalling a little over Rs 1.42 trillion were admitted in 88 cases under the IBC till February 28, data collected by the Insolvency and Bankruptcy Board of India showed
The starting point of the conflict between former RBI governor and the government was this circular; it turned acrimonious in due course and finally led to the exit of Patel
RBI had asked lenders to execute a resolution plan for big stressed accounts by a 180-day deadline, failing which they were to file insolvency petitions against the companies in NCLT
Rating agency Icra says that with Essar Steel and Bhushan Power and Steel attracting interest from domestic and foreign investors, the financial creditors could realise at least Rs 60,000 crore more
Alok Industries' resolution plan is being heard, Jyoti Structures' final leg of hearing on its resolution plan is expected to start and bids have been received for Jaypee Infratech
If haircuts are also supported with elongated repayment structures, lower interest rates, comfortable liquidity and adequate working capital, CRISIL says will make these projects financially viable
Another important point that the order makes is that the NCLT alone has the jurisdiction when it comes to applications and proceedings by or against a corporate debtor covered by the code
Fitch also believes that solid domestic demand has created space to accommodate some increase in imports, but domestic output could be displaced if imports pick up substantially
