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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
No CommentsVeteran 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
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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Debt Recovery to be on Fast Track
- August 2, 2016
- Posted by: BiconAdmin
- Categories: Debt Recovery, Miscellaneous
The Government has paved way, with a formal approval on a Bill that amends four different Acts, seeking to expedite disposal of debt recovery applications that can take many years under the current regime. The changes will strengthen the insolvency framework that is being implemented through the Insolvency and Bankruptcy Code passed by Parliament in
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RBI introduces a ‘Scheme for Sustainable Structuring of Stressed Assets’
- July 19, 2016
- Posted by: BiconAdmin
- Categories: Miscellaneous, Scheme for Sustainable Structuring of Stressed Assets
In order to further strengthen the lenders’ ability to deal with stressed assets and to put real assets back on track by providing an avenue for reworking the financial structure of entities facing genuine difficulties, the Reserve Bank of India has today issued guidelines on a ‘Scheme for Sustainable Structuring of Stressed Assets’. Resolution of
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Parliament passes the Insolvency and Bankruptcy Code
- July 19, 2016
- Posted by: BiconAdmin
- Categories: Insolvency and Bankruptcy Code 2016, Miscellaneous
11-May-2016 was a historical day for economic reforms in India when the Rajya Sabha passed the major economic reform Bill moved by the Government i.e. ‘Insolvency and Bankruptcy Code, 2016’. This is considered as the biggest economic reform next only to GST. The Lok Sabha had earlier passed the Bill on 5th May, 2016. In
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Solution for water crisis: Air based condenser cooling systems
- May 24, 2016
- Posted by: BiconAdmin
- Categories: Miscellaneous, Power Sector, Water Audit
In view of the water scarcity being faced by the power plants in the country, the Power Ministry is preparing a national roadmap for setting up water reprocessing facilities, which could marginally increase power tariff. Power plants, especially those located in the hinterland, use huge volumes of fresh water for various applications. Due to drought
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Draft regulations on exchange of ESCerts on the Power Exchanges
- May 22, 2016
- Posted by: BiconAdmin
- Categories: Miscellaneous, PAT Updates
In line with the powers conferred on CERC to regulate the ESCerts market, these Regulations define the framework of exchange of ESCerts on the Power Exchanges. Request the following drafts of regulations, we will be happy to share it with you, Send Request: Document 1: “Draft Central Electricity Regulatory Commission (Terms and Conditions for Exchange
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Essar asked to cut Debt, find investor
- May 21, 2016
- Posted by: BiconAdmin
- Categories: Debt restructuring, Miscellaneous
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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Drinking Water a Crisis: Corporate India’s Opportunity for CSR
- May 21, 2016
- Posted by: BiconAdmin
- Categories: Miscellaneous, Water Audit
India has been looming under a huge water crisis, across various states. It’s not surprising to see news dailies carrying articles on water crisis like these recently: “76 million in India have no access to safe water: Study“, “Ground zero: No drinking water“, “Latur foretells entire country’s tale” these though make headlines, but the impetus
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Certificate of Origin: Exporters risk being blacklisted when new EU rule kicks in
- May 21, 2016
- Posted by: BiconAdmin
- Categories: Certificate of Origin, Miscellaneous
May have to self-certify origin of goods from 2017 to avail benefits; errors could lead to penalisation Indian exporters enjoying preferential access into the EU market through the Generalised System of Preferences (GSP) scheme face a tough technical challenge. From next year, they may have to self-certify the origin of their goods, instead of accredited