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Lender Banks Must Furnish Copy Of Audit Reports Before Classifying Loan Account As Fraud: Gujarat High Court

Recently, the Gujarat High Court bench of Justice Sangeeta K. Vishen observed that the Lender Banks must provide a reasonable opportunity to the Borrower by furnishing a copy of Audit Reports and. ....

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Tightening the screws on wilful defaulters - The Hindu BusinessLine

Tightening the screws on wilful defaulters - The Hindu BusinessLine
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Supreme Court says borrowers should be heard before banks classify accounts as fraud

The Supreme Court says principles of natural justice must be followed and read into the Reserve Bank of India s master circular on fraud. The court was hearing a bunch of petitions challenging the orders of several high courts in the matter ....

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Bajaj Hindusthan Sugar Ltd allots 14.38 crore shares at Rs. 13.28 per share

Bajaj Hindusthan Sugar Ltd allots 14.38 crore shares at Rs. 13.28 per share
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Banks ready to transfer 37 NPAs worth ₹92,000 crore to NARCL


Banks ready to transfer 37 NPAs worth ₹92,000 crore to NARCL
May 27, 2021
Banks lent to the aforementioned entities as part of a consortium   -  Getty Images×
Videocon, Reliance Naval, Essar Power Gujarat and Coastal Energy among others in the assets transfer list
Banks have so far zeroed-in on 37 stressed assets, with exposure aggregating to about ₹92,000 crore, that can be transferred to the National Asset Reconstruction Company Ltd (NARCL), which is being set up by lenders jointly.
The assets to be transferred to NARCL include those of Videocon Industries, Reliance Naval & Engineering, and Essar Power Gujarat and Coastal Energy, according to bankers. Banks had lent to these entities as part of a consortium. ....

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