Bankruptcy | The Asian Age

Wednesday, Apr 24, 2024 | Last Update : 07:19 PM IST

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Reliance Communications on Friday said it is in advanced stages of discussions with Ericsson for settling issues related to unpaid dues outside of the insolvency and bankruptcy proceedings. (Photo: PTI)

RCom in talks with Ericsson to settle dues outside NCLT

Earlier this week, the NCLT in Mumbai admitted an insolvency petition filed by Swedish firm Ericsson against RCom.

18 May 2018 4:03 PM

Cambridge Analytica, the British marketing analytics firm, filed for voluntary Chapter 7 bankruptcy in the Southern District of New York, court filings showed. (Photo: AFP)

Cambridge Analytica files for voluntary bankruptcy in US: court

It filed for voluntary Chapter 7 bankruptcy in the Southern District of New York, court filings showed.

18 May 2018 1:52 PM

Cambridge Analytica spokesperson Clarence Mitchell looks at his watch near the end of taking questions during a press conference in London, Tuesday, April 24, 2018. The press conference was held Tuesday afternoon to follow Cambridge University academic Aleksandr Kogan speaking at a hearing held by Britain's Parliament media committee. Kogan's company, Global Science Research, developed a Facebook app that vacuumed up information from users as well as additional data from their Facebook friends. (AP Photo/Matt Dunham)

Cambridge Analytica shuts down after Facebook privacy scandal

In a press release, the firm went opened up to confirming that they will shut down with immediate effect.

03 May 2018 9:57 AM

Reliance Naval and Engineering auditors raise going concern doubts

Auditors of Reliance Naval and Engineering Ltd have raised doubts about the Anil Ambani-led company’s ability to continue as going concern.

24 Apr 2018 12:44 PM

A key lender to bankruptcy-hit Jaypee Infratech has ripped apart the bid evaluation process.

Lender tears into Jaypee Infra bid evaluation process

IIFCL tore into its valuers assuming a much less toll collections from Jaypee-built expressway.

22 Apr 2018 11:50 AM

Ahmedabad bench of the NCLTon Thursday declared invitation of the second round of bids for Essar Steel.

NCLT declares rebid for Essar Steel invalid

Essar Steel owes around Rs 49,000 crore to banks, is the biggest asset on the block right now.

20 Apr 2018 9:31 AM

State-owned Punjab National Bank (PNB) has hired lawyers to represent itself in the bankruptcy proceedings of the US-based Firestar Diamond.

PNB hires lawyers in bankruptcy proceedings of Nirav Modi firm in US

Firestar Diamond approached a bankruptcy court in New York in February.

08 Apr 2018 4:01 PM

The RBI move comes at a time when banks already battling near-record levels of soured loans are staring at an increase in stressed assets after a rule change announced in February.

State-run bank shares rally after RBI eases bankruptcy provision needs

The banks will need to achieve 50 per cent provision cover for those loans by end-June.

05 Apr 2018 12:23 PM

Under the new rules, banks will have to file for insolvency proceedings against loan defaulters with Rs 2,000 crore (USD 311 million) or more if a resolution plan is not implemented within 180 days of the initial occurrence of default. (Photo: PTI)

RBI sets 180-day timeline for banks to settle bad loans

In 2017, the RBI ordered banks to force roughly 40 of the biggest corporate loan defaulters into bankruptcy proceedings.

13 Feb 2018 8:27 AM

The companies were directed to file their reply.

NCLT reserves order on SBI’s bankruptcy plea against Bhushan Steel

SBI is claiming to recover Rs 4,295 cr from Bhushan steel along with USD 490 million foreign currency loan.

19 Jul 2017 2:06 PM

Nearly Rs 2 lakh crore of total NPAs of banks for immediate referral for reaching a conclusion under the IBC.

'Rs 8 lakh crore NPAs may face bankruptcy proceedings by Mar 2019'

NPAs are a big drain on the financial health of banks especially public sector banks.

16 Jul 2017 4:40 PM

Banks face an astronomous $150 bn bad loans to repay.

Insolvency and Bankruptcy Code explained

IBC that was passed in May 2016 replaced three existing laws on insolvency and bankruptcy.

13 Jul 2017 3:14 PM

Essar, Bhushan Steels and Electrosteel referred to NCLT for insolvency

Essar Steel, Bhushan Steel and Electrosteel Steel collectively have NPAs worth Rs 1 lakh crore.

23 Jun 2017 11:16 AM

The Financial Resolution and Deposit Insurance Bill, 2017, which aims to instil discipline in financial service providers in the event of a financial crisis by limiting the use of public money to bail out distressed entities.

Cabinet okays Bill on bankruptcy for banks

Bill to cover financial entities and insurance firms.

15 Jun 2017 5:21 AM

PIA should be run under business models, keeping in view the challenges facing the industry. (Photo: Representational/AFP)

Pak govt seeks support to shut down PIA over 'bankruptcy' issue

Abbasi said that there had been lack of discipline and accountability in the Pakistan International Airlines (PIA) in the past.

19 May 2017 3:08 PM

Union Finance Minister Arun Jaitley. (Photo: PTI)

RBI given more powers to tackle NPAs: Arun Jaitley

President Pranab Mukherjee last night signed ordinance to amend Banking Regulation Act.

05 May 2017 6:05 PM

Prime Minister Narendra Modi. (Photo: PTI)

Narendra Modi govt notifies new Banking Regulation Act

RBI to issue directions to any banking company to initiate insolvency resolution process in respect of a default.

05 May 2017 5:53 PM

Indo-US nuclear deal: Westinghouse Electric files for bankruptcy

The firm was to build 6 nuclear reactors in Andhra Pradesh along with state-run NPCIL.

29 Mar 2017 6:43 PM

On the other side of the coin, the United States has been one of the most active in trying to create uniformity in the rules.

So, how do financial criminals evade laws?

The lack of uniformity between financial systems and regulations allows criminals to participate in these illegal activities

14 Mar 2017 9:11 PM

Under the company's plan, Answers will lower its debt by $471 million, according to documents filed in Manhattan's US Bankruptcy Court.

Answers Corp files for bankruptcy to cut $471 million in debt

The company rebranded itself last year as Multiply, a "fan engagement platform" that connects celebrities and their followers.

04 Mar 2017 9:15 AM

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Sanjeev Ahluwalia