DEFAULTERS

​Markets regulator Sebi on Tuesday mandated email as a default mode of dispatch of 'Consolidated Account Statement', which provides an account of securities traded by an investor, by depositories and Mutual Fund-Registrar and Transfer Agents (MF-RTA...

Finding merit in the CBI's case and relying on the evidence submitted by the agency, the court held that it was prima facie evident that there were "false rosy projections about the profitability equity infusion", by KAL. The loans, however, were di...

Sri Lankan President Ranil Wickremesinghe announced a debt restructuring deal with India, France, Japan, and China, a critical step in economic recovery after the 2022 debt default. Under an IMF bailout program, the agreement is expected to revive s...

The notification issued by the ministry of labour and employment said the penal charges across three schemes of EPFO will be uniform and at the rate of 1% per month or 12% per annum from the date of notification as against 25% per annum until now fo...

NCLT orders insolvency proceedings against Supertech Realtors for defaulting Rs 168.04 crore to Bank of Maharashtra in the Supernova project.

According to Adani Electricity, these defaulters are among the highest in any colony within their service areas, with outstanding bills accumulating over the years due to interest and penalties. A similar incident occurred in 2019 when power was cut...

According to Adani Electricity, these defaulters are among the highest in any colony within their service areas, with outstanding bills accumulating over the years due to interest and penalties. A similar incident occurred in 2019 when power was cut...

The National Company Law Tribunal (NCLT) has sent a notice to SpiceJet following an insolvency plea initiated by Engine Lease Finance BV, an aircraft engine lessor involved with the financially troubled airline.

The NCLT in Mumbai has admitted SBI's application against Rajkumar Dhoot of Videocon Group for a Rs 5,353-crore default by Videocon Industries, where Dhoot was a personal guarantor.

JAL has submitted that it is an "asset rich company", even after sale of cement plants to resolve the loans under Bucket 1 and Bucket 2A, assets like Real Estate Business - Noida and Greater Noida (about 11,000 flats) will remain with the company. B...

Engine Lease Finance is the latest of engine lessors that have approached courts accusing SpiceJet of defaulting on payments and seeking repossession of engines.

The National Company Law Tribunal (NCLT) has accepted Srei Infrastructure Finance's request to commence a corporate insolvency resolution process (CIRP) against Supreme Infrastructure BOT due to its failure to repay a loan. Srei Infrastructure Finan...

India's central bank is set to hold a meeting with top management from asset reconstruction companies (ARCs) to discuss corporate governance and stressed-asset resolutions. This comes amidst concerns about potential back-door entry by defaulting pro...

The Finance Ministry is reviewing the Bombay High Court order banning public sector banks from seeking look-out circulars (LOCs) against wilful defaulters. The court deemed the order arbitrary and violative of a person's fundamental rights. The fina...

The Bombay High Court declared that issuance of Look Out Circulars (LOC) by public sector banks against default borrowers without a specific law violates fundamental rights. The court quashed the Centre's decision empowering banks to request LOCs, s...

The Bombay High Court declared public sector lenders ineligible to issue Look Out Circulars (LOCs) under Central government office memoranda. While deeming this practice as 'arbitrary', the court upheld the constitutionality of the Central governmen...

Lenders seek RBI guidance on protecting officers' identities identifying defaulters. Recent court order mandates disclosing committee members. Indian Banks Association seeks advice too. Risks highlighted for officers personally named.

Bombay High Court's ruling alters banks' handling of wilful default cases. Evidence provision mandated, transparency increased. Concerns raised over borrowers challenging actions. RBI guidelines modification pending.

The bench was hearing a petition filed by Milind Patel, former joint managing director of IL&FS Financial Services Limited (IFIN), challenging an order passed by the Union Bank of India in February 2023 declaring the firm and its promoters wilful de...