RBI releases Framework for Revitalising Distressed Assets in the Economy
The Reserve Bank of India today released on its website the Framework for Revitalising Distressed Assets in the Economy. The Framework outlines a corrective action plan that will incentivise early identification of problem cases, timely restructuring of accounts which are considered to be viable, and taking prompt steps by banks for recovery or sale of… Read More
Tags: Economy of India, finance, Green paper, Loan, Reserve Bank, Reserve Bank of India, Restructuring, Steps (group)
Restructuring of Loans in Public Sector Banks
The Reserve Bank of India (RBI) has informed that five complaints /representations regarding irregularities in restructuring of loans in public sector banks in the country have been received. One representation is from Institute of Cost & Works Accountants of India (ICWAI), a complaint from a Member of Parliament and three complaints are from other persons.… Read More
Tags: Finance Minister, Finance Ministry, Rajya Sabha, rbi, Reserve Bank of India, Restructuring, Run batted in, Working Group
Restructuring of CIL to be Undertaken Soon
Restructuring of CIL to be Undertaken Soon The Expert Committee headed by T.L Shankar recommended that the issue of major restructuring of CIL should be considered during the 12th Plan Period. This information was given by the Minister of State for Coal, Shri Pratik Prakash Bapu Patil in a written reply in Lok Sabha today.… Read More
Tags: CIL, Coal, Coal India Limited, Government, Lok Sabha, New Delhi, Restructuring
Corporate Insolvency under SARFAESI
A reasonable person acquainted with the business world would concur with me if I say that it is almost impossible to conceive of a business that is completely insolvency-free. Laws relating to corporate insolvency and restructuring were enacted to serve several objectives, namely, to restore the debtor company to profitable trading where this is practicable;… Read More
Tags: Central bank, Companies Act, Company Law, Debtor, finance, Financial services, Indian Contract Act 1872, Insolvency, Merchant Shipping Act, Non-performing asset, Reconstruction of Financial Assets, Restructuring, SARFAESI, Secured creditor, Securitisation, Security interest, Special purpose entity
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