Stressed Firms

Yes Bank approves sale of Rs 48,000 cr stressed loans to JC Flowers ARC

Former RBI Deputy Governor R Gandhi appointed as Yes Bank's non-executive chairman

Have Rs 1,500-crore exposure to four stressed firms,, says GIC Re

General Insurance Corporation of India (GIC Re) said it has exposure totalling Rs 1,453.74 crore in IL&FS group, DHFL, Reliance Capital and Reliance Home Finance as of March 2020 and it has made provisions over and above the regulatory norms. The company's exposure stood at Rs 788.80 crore as of March 31, 2020 by way of investments in debentures of IL&FS group, GIC Re said in its annual report for 2019-20. GIC Re has made total 100 per cent provision on both secured and unsecured portion of these investments, it said. Exposure in bonds of Dewan Housing Finance Ltd (DHFL) was to the tune of Rs 204.80 crore, for which the provisions are 100 per cent on both secured and unsecured portion, the state-owned firm said. In Reliance Capital and Reliance Home Finance, GIC Re had exposure of Rs 365.26 crore and Rs 94.90 crore, respectively, by the end of March 2020. GIC Re said it has made provisions to the tune of 15 per cent on secured portion of investments in Reliance Capital and ...

Pause in IBC, internal issues halt takeover of stressed projects

Big developers are in wait-and-watch as leveraged developers have made use of the six-month loan moratorium, effectively avoiding defaults

Top headlines: All acquitted in Babri case, Apr-Aug fiscal deficit overruns

From special court acquitting all accused in Babri demolition case to General Atlantic investing in Reliance Retail, Business Standard brings you top news of the evening

Stressed funds set to make beeline for India on spike in Covid-driven NPAs

Bankers expect bad debt worth $35 bn to be up for grabs, in addition to $110 bn already in the system; Blackrock, SBI Cap, Brookfield eyeing stressed assets

Stressed firms accuse ARCs of asset stripping in complaint to RBI

They say ARCs are giving backdoor entry to vulture funds through an effective "benami structure" after taking over debt from banks

Sebi plans to ease fundraising norms for listed stressed companies

Currently, the pricing covers a period of 26 weeks or more for frequently traded shares

IBC provides new lifeline to save stressed firms from premature deaths

The insolvency law provides a new lifeline for stressed companies to save them from premature death, IBBI Chairman M S Sahoo said on Friday. The Insolvency and Bankruptcy Code (IBC) provides for a time-bound and market-linked resolution of stressed assets. Speaking at an event here, Sahoo said the IBC provides a new lifeline to a company which has a value and has to be saved from premature death. Exemplifying his point, Sahoo said the average life of S&P 500 companies has reportedly come down from 90 years to 18 years over the last century. There is a kind of danger to the life of a business and at times, freedom results in unfair battles at market place, he noted. As many as 190 companies have been rescued till December 2019 through resolution plans and they owed Rs 3.8 lakh crore to creditors. The Insolvency and Bankruptcy Board of India (IBBI) is a key institution in the insolvency ecosystem.

How the stressed asset problem snowballed into a tussle between RBI, govt

An exclusive excerpt from A K Bhattacharya's 'The Rise of Goliath'

Stressed employees

Some companies have started cutting costs by stopping the air conditioning in their offices