Page 2 - Debt Resolution

HCC's shares jump nearly 20% on completing debt resolution plan

Co to hive off part of debt, receivables to a SPV; to hold 49% stake in SPV

Hindustan Construction Company completes debt resolution plan

Company assigns Rs 2,854.4 cr of lenders' liability and claims of Rs 6,508 cr to an SPV

NCLT adjourns Bajaj Hindusthan bankruptcy petition to December 7

In an order dated September 14, the NCLT asked Bajaj Hindusthan to file a reply to the SBI petition in three weeks

IMF approval of financing programme mark of confidence: Zambian Prez

The Zambian President, who expressed gratitude to the international lender, said the programme will culminate in jobs, a more affordable cost of living and enhanced development prospects

Srei group receives two resolution plans for debt-ridden companies: Report

Two bids have been received for two debt-ridden Srei group companies under the insolvency resolution process and one of the bids is estimated to be worth around Rs 15,000 crore, according to sources. Srei Infrastructure Finance Limited and Srei Equipment Finance Limited are undergoing a resolution process under the Insolvency and Bankruptcy Code. "This is to inform you that the 13th (Thirteenth) meeting of the Consolidated Committee of Creditors of Srei Infrastructure Finance Limited and Srei Equipment Finance Limited was duly convened and conducted on Monday, August 29, 2022, from 5:15 P.M. onwards. The meeting was conducted virtually. "It is further informed that the Administrator of the Corporate debtor has received two (2) 'Resolution Plans' pursuant to the Request for Resolution Plan dated April 1, 2022, (as modified on June 30, 2022) issued by the Administrator within the deadline for submission as given to the Prospective Resolution Applicants (PRAs)," a regulatory filing sai

Faster debt relief needed as more nations seek help, says IMF's Gopinath

More countries are likely to seek debt relief as a stronger dollar makes repayments tougher, says IMF chief

Lenders get 57% dues from Imagicaa debt recast, Malpani picks 66.25% stake

Malpani Group acquired the stake by way of preferential allotment of equity shares worth Rs 415 crore.

IBC framework needs a booster dose; debt resolutions slacken in two years

According to the statistics by the Insolvency and Bankruptcy Board of India, since the provisions of IBC came into force in December 2016, as many as 5,258 insolvency cases have been filed by lenders

Jayaswal Neco case to help bankrupt cos, lenders to resolve debt faster

Lenders may sign out-of-court settlements with other bankrupt companies, ARCs

Future Enterprises to raise Rs 3,000 cr via insurance biz sale to pare debt

Earlier on Thursday, Future Enterprises Ltd completed the sale of its 25 per cent equity in Future Generali India Insurance Company Ltd (FGIICL) to joint venture partner Generali for Rs 1,266.07 crore

RCL may share RFRP with bidder by Wed; all cash bids to get highest score

RCL had offered two options to all the bidders

Reliance Capital debt resolution may be delayed over subsidiaries

Options of settling the finances of eight units of Reliance Capital that are financially sound leads to disagreement between bidders and administrator.

Lenders mull 90-day extension to close Reliance Capital resolution process

Lenders on Wednesday discussed a proposal for 90 days of extension to close the resolution process of debt-ridden Reliance Capital Ltd (RCL) promoted by the Anil Ambani Group, sources said

Argentina, IMF reach preliminary $44.5 bn deal to resolve debt burden

Argentina and the International Monetary Fund (IMF) have reached a preliminary $44.5 billion agreement to help the South American country manage its debt burden, the Economy Ministry here said.

Lenders expect to close Jaypee Infratech's debt resolution by March

Firm likely to go to Suraksha Realty, which made winning bid of Rs 7,736 crore as against govt-owned NBCC India's Rs 6,536 crore offer last June

RBI action may derail revival plans of Reliance Capital's subsidiaries

Authum's plan to acquire Reliance Home Finance and RCFL awaits RBI nod

Pakistan PM Imran Khan says rising foreign debt a 'national security' issue

He said that due to lack of resources the government had little to spend on the welfare of the masses

Reform IBC ecosystem for quicker resolution, maximum recovery: CRISIL

Only a few large cases have seen higher recovery, says agency.

To boost CIRP outcomes, IBBI limits change in resolution plan to once

Gives option for a challenge mechanism, curbs discretion of CoC in considering certain resolution plans.

Srei Infra CEO Rakesh Bhutoria resigns; salary issues persist

Srei Infrastructure Finance has suffered yet another blow as its CEO Rakesh Kumar Bhutoria resigned even as the company is going through the debt resolution process with the lenders