• Gradation system in Debt recasts likely to be introduced soon

    • March 31, 2017
    • Posted by: BiconAdmin
    • Categories: Asset Reconstruction, Debt Recovery, Debt restructuring
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    The government and the Reserve Bank of India (RBI) could introduce a gradation system in loan restructuring to deal with bad debts. Bank would use all existing schemes like corporate debt restructuring (CDR), strategic debt restructuring (SDR) and the scheme for sustainable structuring of stressed assets (S4A) which are introduced so far by the central

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  • Piramal and Bain join hands for Debt Fund

    • September 2, 2016
    • Posted by: BiconAdmin
    • Categories: Asset Reconstruction, Debt restructuring, Miscellaneous, Scheme for Sustainable Structuring of Stressed Assets
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    Piramal Enterprises an Ajay Piramal flagship company and Bain Capital Credit have signed a memorandum of understanding (MoU) to create a strategic partnership to invest in stressed assets and restructuring situations in India. The cumulative stressed corporate assets, where gross non performing assets (NPAs) of 40 listed banks stand at whooping 5.82 trillion rupees.

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  • Ambit hopes to get ARC licence soon, plans big splash

    • August 5, 2016
    • Posted by: BiconAdmin
    • Categories: Debt Recovery, Debt restructuring, Miscellaneous
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    Veteran investment banker Ashok Wadhwa is known for spotting opportunities much before others. However, for his asset reconstruction (ARC) business, he waited for years before finally applying for a licence in March in association with New York-based J C Flower, each having 47.5 per cent holding in the proposed company. Former Citibank veteran Jerry Rao

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  • Lodha, Piramal to set up ARCs, looking to partner foreign funds

    • August 4, 2016
    • Posted by: BiconAdmin
    • Categories: Debt Recovery, Debt restructuring, Insolvency and Bankruptcy Code 2016, Miscellaneous
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    In what could just be the beginning of large cash rich groups with a real estate expertise taking over stressed assets, Piramal Group and Lodha Group are looking to set up asset restructuring companies (ARCs), people close to the development said. According to the plan, both the players would invest initial money for the ARCs

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  • Essar asked to cut Debt, find investor

    • May 21, 2016
    • Posted by: BiconAdmin
    • Categories: Debt restructuring, Miscellaneous
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    The joint lenders forum has directed Essar Steel to speed up the process of issuing an information memorandum for attracting potential investment in the company. Saddled with a debt of ₹40,000 crore, the company recently appointed SBI Capital Markets and ICICI Securities to find strategic investors in the company to reduce its debt. This apart,

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