Alok Industries has raised Rs 7,000 crore from parent Reliance Industries and two lenders – Axis Bank and State Bank of India, according to various disclosures by the company and people with knowledge of the matter. The textile manufacturer raised Rs 3700 crore in the form of term loans and working capital loans from banks, … Read more
NEW DELHI: The finance ministry on Friday asked heads of public sector banks to monitor and review the top 20 Insolvency and Bankruptcy Code cases as part of their bad assets management. During a meeting with managing directors and CEOs of public sector banks, financial services secretary Vivek Joshi asked them to review the top … Read more
MUMBAI: Recoveries from personal guarantees, averaging in low single digits so far, are likely to rise significantly following the recent Supreme Court ruling, affirming the validity of the IBC provisions regarding personal guarantees, according to a report. According to a Care Edge report on Tuesday, recoveries from personal guarantees are a low 5.22 per cent … Read more
The average time taken for resolution of stressed assets under the insolvency law reached a three-year high in the June quarter, according to a report. The longest delay was 643 days for the Financial Creditors (FCs) in the first quarter of this fiscal, as per the report by India Ratings based on an analysis of … Read more