Page 6 - Debt Resolution

Govt brings ordinance to introduce pre-packaged debt resolution for MSMEs

The latest move comes less than two weeks after the suspension of certain IBC provisions ended

SC remits to creditors Jaypee Infratech's resolution plan for approval

The Supreme Court Wednesday remitted to the Committee of Creditors (CoC) the issue of approval of resolution plan for debt-ridden Jaypee Infratech Ltd (JIL)

Special insolvency relief framework for Covid-hit MSMEs in the works

Such firms may be allowed to opt for pre-packaged deal

Anil Ambani-owned Reliance Naval's debt resolution gets delayed yet again

Bid submission date extended for fifth time as NCLT grants five more months to lenders to complete resolution process

Startek announces $185mn debt refinancing with term loan, revolving credit

Borrowings under new senior debt will bear tiered interest rate, based on Startek's consolidated net leverage ratio and is initially set at Libor plus 450 bps

Pre-packaged resolution is a plan good concept, says IBA CEO Sunil Mehta

Under the current Insolvency and Bankruptcy Code (IBC), a time-bound and market-linked resolution framework is permitted

Three offers received for PMC Bank resolution: RBI Governor Das

Das said three investors have submitted their offers for reconstruction of crisis-ridden Punjab and Maharashtra Co-operative (PMC) Bank and evaluation for those are underway

Legal hurdles await DHFL resolution process; lenders meeting today

Lenders meeting today to press for better share in recoveries from frauds

Banks vote in favour of Piramal offer for DHFL, see holes in Oaktree bid

With this Piramal succeeds in getting the requisite 66 per cent voting, says source

Reliance Capital's total outstanding debt rises to Rs 20,380 crore

Reliance Capital Ltd (RCL), part of Anil Ambani-promoted Reliance Group, has said the total outstanding debt rose to Rs 20,379.71 at the end of December 2020

Piramal Group claims its bid for DHFL highest and compliant with norms

Piramal Enterprises on Friday claimed that its bid for resolution of debt-ridden mortgage lender DHFL is highest and fully compliant with regulatory norms

Oaktree provides unconditional, implementable plan for DHFL resolution

US-based Oaktree Capital has said its revised bid for the debt-ridden DHFL is unconditional and comes with a commitment of fresh capital infusion of Rs 1,000 crore for the revival of the company

RCom group owes about Rs 26,000 cr to Indian banks, financial institutions

Debt-ridden telecom firm Reliance Communications said the group owes around Rs 26,000 crore to Indian banks and financial institutions

'Reliance Capital's EOI for asset monetisation receives 60 bids'

Reliance Capital's expression of interest for asset monetisation garnered mega response with 60 bids being received

JSW Steel sweetens offer by Rs 400 cr to close Bhushan Power deal

Proposal was made last week, payment subject to bank guarantee or indemnity from lenders, so that in case SC rejects resolution plan, settlement amount will be reversed

Reliance Infratel resolution gets NCLT nod; lenders may get Rs 4,400 cr

The resolution plan was approved by 100 per cent votes of the committee of creditors.

Debt-laden Reliance Capital garners 60 bids in asset monetisation drive

Over eight bidders have bid for entire assets on as-is-where-is basis.

Decoded: Unravelling the legal tangle around revised bids for DHFL

The DHFL saga has put the spotlight on the legal ambiguity in accepting bids beyond stipulated deadlines

Realisations through IBC to take a hit of up to 40% in FY21: Icra

Covid-19 outbreak, suspension of new proceedings under IBC has sharply slowed down resolution process causing realisation for financial creditors to decline

IL&FS gets approval to sell road asset Jorabat Shillong Expressway

Infrastructure Leasing and Financial Services on Tuesday said it has received the approval of Justice (retd) D K Jain - who is overseeing the debt-laden group's resolution process - for sale of Jorabat Shillong Expressway to Sekura Roads Ltd. Sekura Roads is backed by Edelweiss Infrastructure Yield Plus, an infrastructure category-I alternative investment fund. JSEL is a wholly-owned subsidiary of IL&FS Transport Network (ITNL). It has been classified as an amber company. Amber category is for those companies that would not be able to meet their obligations but can meet only operational payment obligations to senior secured financial creditors. IL&FS in a statement said Sekura had bid Rs 916 crore for the 100 per cent stake in Jorabat Shillong Expressway (JSEL). "SRL had emerged as the highest bidder for JSEL and the same was ratified by the committee of creditors (CoC) of ITNL and JSEL," it said. The group will now seek approval from the National Company Law Tribunal (NCLT) ..