Canara Bank recovers Rs 1,476 crore through IBC in FY2023-24
Canara Bank recovered Rs 1,476 crore through cases referred to NCLT during FY2023-24. The bank in its annual report released...
Month: May 2024
Amount involved in loan frauds detected in FY24 falls 52%
The amount involved in loan frauds are on the decline. According to the RBI Annual Report, amount involved in loan...
RBI bars Edelweiss Asset Reconstruction Company from acquiring financial assets
The Reserve Bank of India (RBI), India's central bank, has taken action against Edelweiss Asset Reconstruction Company (EARCL) and its...
NCLAT rejects YEIDA plea; upholds Jaypee Infratech resolution plan
The National Company Law Appellate Tribunal (NCALT) has paved the way for Suraksha Realty to implement its resolution plan for...
IBC helped recovery of 14% bad loans in FY24: SBI Annual Report
The SBI Annual Report for FY24 says that the bank made recoveries from AUCA accounts to the tune of Rs...
EaseMyTrip CEO pulls out of race for Go First airline
Nishant Pitti, CEO of travel website EaseMyTrip, announced on Saturday that he is no longer pursuing the acquisition of Go...
EoI invited from prospective bidders for Morarjee Textiles
The resolution professional of Morarjee Textiles Ltd, an Ashok Piramal Group company, has invited expression of interest from prospective bidders...
Creditors recover Rs 3.36 lakh crore from 947 resolved CIRPs till 31 Mar’24
In the seven full (financial) years of Insolvency and Bankruptcy Code (IBC) since 2017-18, the new loan recovery system has...
Litigation finance in India: Opportunities and challenges
The landscape of legal dispute resolution is undergoing a seismic transformation, due to the emergence of Litigation Funding or Third-Party...
RBI meets heads of ARCs amid reports of use of unfair recovery methods
The Reserve Bank of India (RBI) held a meeting with heads of Asset Reconstruction Companies (ARCs) following concerns about their...