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Supreme Court (SC) order allowing bankruptcy proceedings against personal guarantors of loans to defaulter companies will open up a new window of recovery, potentially multiplying banks realizations.
The latest data from the Insolvency and Bankruptcy Board of India (IBBI) show that a total of 2,289 cases related to personal guarantees involving corporate debt of Rs 1.63 lakh crore have been filed at the National Company Law Tribunal (NCLT). Of these, 282 have been admitted, out of which 21 have yielded Rs 91.27 crore. The order means cases stuck at the NCLT will move forward with banks likely making fresh pleas in this regard.
Both directors have been held on complaints of 34 homebuyers who have not got possession of homes they booked in the projects of Nirmal Lifestyle.
Two years of Covid recession and the declining tourist footfall have taken a toll on hotels and other commercial properties in Kangra with 163 of these either being sealed or on the verge of it for faltering on loan repayment.
Synopsis Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India (RBI) is unlikely to permit asset reconstruction firm UVARCL buying RCom's spectrum and other assets under a resolution plan, the people said. Wikipedia A consortium of Reliance Communications' (RCom) lenders, led by the State Bank of India, have held discussions with resolution professional Deloitte on whether rebidding for the bankrupt telco’s assets is an option, people familiar with the matter said. Lenders of the telco, which filed for bankruptc...