16 August 2019: Ratnagiri Gas and Power Pvt Ltd, which had turned a non-performing asset (NPA) for banks in the fiscal first quarter ended June after Reserve Bank of India (RBI) insisted to downgrade the account, is now on course… Read More ›
ET: Gail has opposed the resolution plan because it did not consider the government-owned gas and petrochemical company’s claims.
11 June 2019: A joint resolution plan submitted by JM Financial Asset Reconstruction Co Ltd and Reliance Industries to take over distressed textiles company Alok Industries has hit a roadblock after Gail India, an operational creditor to Alok, challenged the… Read More ›
29 May 2019: State-owned GAIL India Wednesday approached the National Company Law Tribunal (NCLT) seeking admission of its ₹390 crore claim from Videocon Industries, which the resolution professional (RP) rejected earlier. In an application, the counsel for GAIL said the… Read More ›
22 March 2019: Time is running out for Matix Fertilizers and Chemicals, country’s maiden coal bed methane gas-based fertilizer plant set up by Nishant Kanodia, son-in-law of Ravi Ruia. The promoters have asked its bankers for time as repayments can… Read More ›
13 February 2019: The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Wednesday accepted Gail India Ltd’s plea to be treated as operational creditor in the textile player Alok Industries’ insolvency matter. However, while passing the order on Wednesday, the two-member bench… Read More ›
Investment bank Morgan Stanley reports that a delay in reforms on fuel subsidy could see the outlay rise up to around INR 190,000 cr during FY2012-13. Lack of price rises in that of petrol and diesel would see the subsidy… Read More ›
INDIA Finance Minister Pranab Mukherjee stated that Indian banks should take appropriate steps to manage their non-performing assets. Concerned over the rise in NPA’s of state-owned banks due to the economic downturn, he stated that banks would have to mitigate… Read More ›