India Business News: Banks can look forward to improved recovery prospects from promoters of defaulting companies who have provided personal guarantees for corporate loans
The Supreme Court has paved the way for banks and financial institutions to initiate recovery proceeding against individuals, who have guaranteed corporate loans by upholding the government notification of 15 November 2019.
Lenders can recover dues from personal guarantors: Supreme Court indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Telcos spectrum can t be treated as security interest by lenders: NCLAT
Telecom companies have the right to use spectrum under the licence granted to them. However, they cannot be said to be the owners in possession.
BusinessToday.In | April 14, 2021 | Updated 22:40 IST
The tribunal made it clear that spectrum cannot be treated as a security interest by the lenders .
Debt-ridden telecom companies undergoing insolvency proceedings cannot claim rights to their spectrum, a natural resource, if payments for spectrum usage have not been made to the government, the National Company Law Appellate Tribunal has said.
In what could be a landmark judgement amid multiple telecom players undergoing proceedings under the insolvency law, a three-member bench of the tribunal also made it clear that spectrum cannot be treated as a security interest by the lenders .