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incremental provisioning

03 Aug 2017

Banks may need 20% extra provisioning for 50 top bad debts: Study

The Insolvency and Bankruptcy Code will help in protecting creditor interest in the sense that a start-up firm that gets insolvent can be wound up on a fast-track basis within 90 days.

03 Mar 2017

SC to hear banks' plea against transfer of $40 million by Vijay Mallya

The Supreme Court on said it would hear next week the plea of a consortium of banks that USD 40 million, which liquor baron Vijay Mallya had allegedly transferred to his children, needed to be brought back.

19 Jan 2017

Vijay Mallya loan default case: DRT allows bankers to start proceedings to recover debt

The Debt Recovery Tribunal allowed bankers to start proceedings to recover Rs 6,203 cr debt from beleaguered liquor baron Vijay Mallya.

18 Jan 2017

Vijay Mallya Rs 9,000 cr loan case: DRT to pronounce its final verdict on Thursday

The now-defunct Kingfisher Airlines owes over Rs 9,000 crore in loan to the SBI-led consortium of 17 banks.

03 Jan 2017

Vijay Mallya Case: DRT reserves order on banks plea for dues recovery

The Debt Recovery Tribunal here has reserved its order on the pleas of SBI-led consortium of banks for recovery of over Rs 9,000 crore from beleaguered liquor baron Vijay Mallya in the Kingfisher Airlines case.

21 Oct 2016

Vijay Mallya case: Debt Recovery Tribunal raps banks for casual approach

Terming GoAir and Indigo as "innocent" third parties, the Debt Recovery Tribunal has rapped banks for filing interim applications in a "casual and routine manner" to make them party to the Vijay Mallya case.

26 Sep 2016

Vijay Mallya row: DRT to pass interim order in Indigo, GoAir case

The Debt Recovery Tribunal will pass an interim order on Tuesday on the plea of a consortium of banks seeking a direction to Indigo and GoAir airlines under garnishee proceedings to deposit with it the money to be paid to Airbus by them, in a Kingfisher Airlines case.

23 Sep 2016

Indigo, GoAir made parties in Vijay Mallya case

Indigo and GoAir airline on Friday filed objections to interim applications of the consortium of banks led by Oriental Bank of Commerce, which pleaded before the Debt Recovery Tribunal under garnishee proceedings to direct the budget carriers to deposit the money to be paid to Airbus with it instead of paying to the aircraft maker in the Vijay Mallya case.

25 Jul 2016

Vijay Mallya's loan default case: DRT to resume hearing on UBHL's plea countering banks

The Debt Recovery Tribunal in Bengaluru will resume its hearing Monday on the application filed by UBHL and Vijay Mallya seeking cross-examination the "shady" documents submitted by the consortium of bankers with regard to Rs 6,000 crore, which allegedly did not even have the seals of the parties.

Vijay Mallya case

15 Jul 2016

Debt Recovery Tribunal orders on three interlocutory applications in Vijay Mallya case on Saturday

Keeping in mind the Supreme Court's direction to wind up the Vijay Mallya case as soon as possible, Debt Recovery Tribunal Presiding Officer C R Benkanahalli on Friday said that he would pass orders on three interlocutory applications filed by Heineken, Kingfisher Finvest and Diageo Plc and its subsidiaries tomorrow.

Kingfisher Airlines

08 Jul 2016

DRT dismisses plea of Kingfisher Airlines for amending its reply

The Debt Recovery Tribunal today dismissed an application by Kingfisher Airlines seeking an amendment to its earlier reply on the original application (OA) filed by a consortium of banks in the Vijay Mallya bank loan default case and demanding Rs 3,000 crore toward losses suffered by it.

07 Jul 2016

Vijay Mallya default case: DRT to pass order on Kingfisher Airlines application today

The Debt Recovery Tribunal may pass orders Thursday on an application by Kingfisher Airlines seeking amendment to its earlier written reply in response to the original application (OA) filed by a consortium of banks in the Vijay Mallya case.

Consortium of banks

21 Jun 2016

Vijay Mallya case: Banks to file objections to Heineken's impleadment plea today

The Consortium of Banks led by SBI has said that it would be filing objections to Dutch beer major Heineken's application before the Debt Recovery Tribunal seeking to be impleaded in the Vijay Mallya case.

18 Jun 2016

Vijay Mallya case: HC stays for 3 months DRT order issuing demand notice to UBHL

The Karnataka High Court has stayed for three months the Debt Recovery Tribunal's order issuing a demand notice to Vijay Mallya-owned United Breweries Holdings Limited (UBHL) and Kingfisher Airlines to pay Rs 192 crore on an application by three banks.

18 Jun 2016

Mallya case: Dutch beer major files application before DRT

Dutch beer major Heineken has filed an application before the Debt Recovery Tribunal seeking to be impleaded in the Vijay Mallya case.

13 Jun 2016

Vijay Mallya case: DRT to take up 7 IAs for final hearing

DRT Presiding Officer C R Benakahanahalli Monday said the tribunal will take up at least seven Interlocutory Applications, including three IAs filed by Kingfisher Finvest India Private Limited, for final hearing from tomorrow in the Vijay Mallya case.

07 Jun 2016

Vijay Mallya case: DRT advises banks to coordinate recovery of Rs 2000 crore

The Debt Recovery Tribunal Tuesday advised SBI-led consortium of banks in Vijay Mallya case to make coordinated efforts among themselves to recover around Rs 2000 crore parked in courts in the country and reduce losses to the tune of over Rs 9000 core incurred by the banks.

07 Jun 2016

India pitches for ratings upgrade with Fitch

New Delhi: India on Tuesday pitched for a ratings upgrade with global agency Fitch Ratings citing improvement in macroeconomic conditions and the government's commitment to fiscal consolidation.

loan default case

03 Jun 2016

Diageo Holdings Netherlands files interlocutory application before the Debt Recovery Tribunal

After British liquor giant Diageo Plc, Diageo Holdings Netherlands today filed an interlocutory application before the Debt Recovery Tribunal seeking vacating of DRT's order barring liquor baron Vijay Mallya from withdrawing USD 75 million exit buyout by it under a deal till disposal of SBI's case against him over loan default.

17 May 2016

DRT directs J P Morgan Bank not to disburse $40 mn to Vijay Mallya

In another blow to beleaguered businessman Vijay Mallya, the Debt Recovery Tribunal (DRT) Tuesday directed New-York based J P Morgan Bank not to disburse to him USD 40 million of the USD 75 million sweetheart deal struck between him and Diageo PLC.

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