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Bankruptcy proceedings News

18 May 2018

RCom in talks with Ericsson to settle dues outside NCLT

Earlier this week, the NCLT in Mumbai admitted an insolvency petition filed by Swedish firm Ericsson against RCom and two of its subsidiaries seeking to recover Rs 1,150 crore.

India's bankruptcy code

14 Jun 2017

FACTBOX: India's bankruptcy code process for creditors, defaulters

Outlined here are the steps lenders must now take in a process that could take six months to nine months.

14 Jun 2017

RBI says banks must start bankruptcy proceedings against 12 major defaulters responsible for 25% of bad loans

The Reserve Bank of India (RBI) has identified 12 of the country`s biggest loan defaulters and said creditors must pursue bankruptcy proceedings against them, as it begins to cut the USD 150 billion in stressed debt hobbling Asia`s third-largest economy.

14 Jun 2017

Resolution of state-run banks' bad loans primary focus of government

A resolution of Indian banks` bad loans is the "first and primary focus" of the government, a senior finance ministry official said on Wednesday.

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