Assets Stabilisation Fund News Today : Breaking News, Live Updates & Top Stories | Vimarsana

IDBI Bank hopes to recover about 15-18% from the portfolio sale, one of the people said. It has 631 accounts with principal loans of ₹4,000 crore. These include Daewoo Motors, Malvika Steel, Mardia Chemicals, Modi Rubbers, Precision Fasteners, Rajinder Steels, Steel Tubes of India, Surana Oil, Usha Ispat and Western India Shipyard. The distressed asset portfolio sale comes around the time when the promoters of the bank are preparing to sell a part of their stake. Life Insurance Corporation holds 49.2% of the bank, while the government owns 45%. Together, they plan to offload a 60.7% stake.

Supreme Court IBC | Section 9 Petition Not To Be Dismissed If Few Invoices Are Time Barred But Remaining Invoices Are Not; Supreme Court Case Title: M/S Next Education India Pvt. Ltd. v M/S...

Supreme Court IBC | Section 9 Petition Not To Be Dismissed If Few Invoices Are Time Barred But Remaining Invoices Are Not; Supreme Court Case Title: M/S Next Education India Pvt. Ltd. v M/S...

The National Company Law Tribunal (“NCLT”), Hyderabad Bench, comprising of Shri Dr. N. V. Rama Krishna Badarinath (Judicial Member) and Shri Satya Ranjan Prasad (Technical Member), while...

The Insolvency and Bankruptcy Code, 2016 (IBC) was enacted to facilitate expeditious resolution of insolvency, promote availability of credit and balance the interest of stakeholders. The IBC recognised the crucial stake of banks and financial institutions (FI) and conferred upon them a pivotal role and decision making powers in the corporate insolvency resolution process (CIRP). However, the initial euphoria of banks and FIs quickly faded due to ambiguities in certain provisions, multiple challenges by borrowers during the CIRP, conflicting rulings on the interpretation of the IBC, and mult...