July 13, 2018

“This mechanism (ATP) can be used by banks to sell the security receipts (SRs) issued to them by asset reconstruction companies (ARCs), to third parties and recover value in advance, thereby freeing up additional funds for lending,” the committee noted in its recommendations. The committee estimates that banks currently hold Rs 90,000 crore of SRs. 

 

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June 03, 2018

The introduction of the bankruptcy law has brought the benefit of debt resolutions with deadlines for foreign funds, said Aney at Baker McKenzie Wong & Leow.
 

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June 27, 2018

The government is also, at best, lukewarm to the idea of an asset reconstruction company (ARC) to take over the public sector banks' toxic loans as it's not keen on diverting more of taxpayers' money toward their resolution in this manner.

November 23, 2017

Under the revised rules, borrowers whose loan accounts are classed as non-performing for a year or more will not be eligible to bid for the assets in bankruptcy proceedings.

November 23, 2017

With the Cabinet clearing an ordinance meant for amending the code, a strong signal has been sent to a number of promoters who are keen on taking control of their own firms via shell companies while banks are left in the lurch with little option but to suffer massive haircuts.