Ground seems ready for new options to resolve stressed assets: IBBI chief
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Last Updated: Jan 03, 2021, 01:15 PM IST
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In place for more than four years, the Insolvency and Bankruptcy Code (IBC) is helping in resolution of stressed assets in a market-linked and time-bound manner, and the proposal for pre-pack framework is also in the works.
M S Sahoo
NEW DELHI: The ground seems to be ready to experiment new options for resolution of stress and the market is anticipating a hybrid framework between a court-supervised insolvency framework and an out-of-court restructuring schemes, IBBI Chairperson M S Sahoo has said.
December 31, 2020
Total financial indebtedness of RHFL, including short-term and long-term debt, was ₹12,767 crore
Reliance Home Finance Ltd (RHFL) said the Delhi High Court has also extended the stay in relation to action by HDFC Bank, placing the company in the category of ‘Fraud’.
Referring to its regulatory filings on August 17, 2020 and November 24, 2020, RHFL said the Delhi High Court had directed Bank of Baroda, Punjab National Bank, State Bank of India, Federal Bank, Indian Bank and Bank of Maharashtra to keep in abeyance the placing of the company in the category of ‘Fraud’.
“The Delhi High Court has further extended the stay in relation to similar action by HDFC Bank,” says a late evening filing on December 30, 2020.
Lenders extend ICA for Reliance Home Finance resolution till March 2021
Reliance Home Finance, part of Anil Ambani-promoted Reliance Group, recently got bids from six suitors as part of the debt resolution process
PTI | December 29, 2020 | Updated 15:42 IST
Lenders to troubled mortgage firm Reliance Home Finance (RHF) have extended the inter-creditor agreement (ICA) for another three months.
Reliance Home Finance, part of Anil Ambani-promoted Reliance Group, recently got bids from six suitors as part of the debt resolution process. The lenders of the company forming part of the Inter creditor Agreement (ICA), executed pursuant to the Reserve Bank of India (RBI) circular dated June 7, 2019 on Prudential Framework for Resolution of Stressed Assets, have extended the ICA period till March 31, 2021, the company said in a regulatory filing.
Lenders extend ICA for Reliance Home Finance resolution till March 31
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Last Updated: Dec 29, 2020, 11:59 AM IST
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As per June 7 circular of the RBI, lenders can extend the time period of the pact if an account has not been resolved within 180 days of signing ICA.
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Lenders have decided to further extend the bidding timeline till January 31, 2021, in order to accommodate the four non-compliant bidders, sources added.
New Delhi: Lenders to troubled mortgage firm
Reliance Home Finance (RHF) have extended the inter-creditor agreement (ICA) for another three months. Reliance Home Finance, part of Anil Ambani-promoted Reliance Group, recently got bids from six suitors as part of the debt resolution process.
Interview | For long-term investors, India a compelling story of massive potential: Vistra India head
In an interview with Moneycontrol, Navita Yadav, Country Managing Director of Vistra India, speaks on fund flows into emerging markets, Fed moves and opportunities in REITs and INVITs. December 24, 2020 / 05:11 PM IST
Vistra Group, among the world’s top three corporate and fiduciary services providers, manages more than $142 billion of investments in India. In an interview with Moneycontrol, Navita Yadav, Country Managing Director of Vistra India and Global Head of Capital Markets, touched upon topics ranging from fund flows into emerging markets, Fed moves and opportunities in REITs and INVITs to the need for corporates to display greater fiduciary responsibility. Yadav, who will be moving to London soon to manage the group s global markets, says India has seen much higher consistency in FPI flows in comparison to other emerging markets.