Page 2 - Loan Default

Need restructuring, not bankruptcy

Most stressed lenders should go into restructuring with the IBC being its bedrock

Pause in IBC, internal issues halt takeover of stressed projects

Big developers are in wait-and-watch as leveraged developers have made use of the six-month loan moratorium, effectively avoiding defaults

Future Enterprises reports default on interest payments of NCDs again

FEL, which is having financial troubles, had last week also informed default on interest payment of another non-convertible debenture

Auditors seek fine-tuning audit report guidelines, approach Sebi, NFRA

The new disclosures and assessments are a part of the Companies (Auditor's Report) order, or CARO, effective this financial year

Future Enterprises defaults on commercial paper repayment worth Rs 90 cr

"The delay in reporting is due to efforts being made by the company to make payment by mobilising certain funds to make payment and then submit report of having repaid with delay," FEL said

SBI invokes personal guarantees of Bhushan Power & Steel promoter

Action against Sanjay Singal comes within days of the Finance Ministry asking banks to invoke personal guarantees in all insolvency cases

Future Group arm defaults on debt repayment of Rs 22 cr due September 5

In a regulatory filing, the company said it has been unable to service its obligations towards payment of principal redemption and interest due on September 5, 2020

Life after moratorium, for banks and borrowers

There are enough filters in the Covid-19 loan restructuring scheme to prevent misuse, but is it a tool to delay the growth in banks' bad loans? We will know after two years

Moratorium case: SC directive to benefit small, mid-sized accounts

Bankers said special mention accounts (SMA)- overdue period between 31 to 60 days (SMA1) and overdue period between 61 to 90 days (SMA2) would have become NPAs in August and September 2020

Don't hide behind RBI, clarify your stand on loan moratorium: SC to govt

A Bench headed by Justice Ashok Bhushan said the government had failed to clear its position on the issue despite the fact that ample powers were available with it under the Disaster Management Act

Promoters of loan defaulting companies to soon face crackdown by lenders

With apex court's backing, banks to speed up enforcing personal guarantees

Why don't PSBs invoke personal guarantees? SC questions govt on bad loans

Plea in SC claimed around Rs 1,900 crore are lost every day due to PSBs not invoking personal guarantees of big corporate loan defaulters.

Bankers divided on extending moratorium, fear potential spike in bad loans

Without regulatory intervention, slippages could surge 300 bps

Banks stockpile billions as they prepare for things to get worse

Collectively, JPMorgan Chase, Citigroup and Wells Fargo have put aside $25 billion during the second quarter, they said. As a result, their quarterly profits plunged.

JP Morgan beats estimates on trading boost, braces for rising defaults

JP Morgan's trading revenue surged 77% in a quarter that saw record-breaking volumes in financial markets.

Top Headlines: Voda Idea defaults on payments, IT firms' hiring woes & more

From IT companies facing problems in hiring fresh candidates, Voda defaulting on June payments, TCS reporting fall in net profits, here are the top headlines on Friday morning

RBI's moratorium helps public sector banks post lower NPAs in Q4

On aggregate basis, gross NPAs of 8 PSBs improve by 132 bps

Fears about India's retail loan defaults overblown, says Macquarie

"the unanimous feedback has been that there has been a decline in the total loan book under moratorium from the 25-30% numbers reported as of end-May," analysts led by Suresh Ganapathy wrote in a note

Widen MSME scheme ambit: Private lenders to FM Nirmala Sitharaman

Govt likely to issue clarification to add more borrowers under ECLGS

Infra firm HCC's total default to 14 creditors amounts to Rs 728.40 cr

Total financial indebtedness of the firm amounted to Rs 10,427.59 cr