Asset Reconstruction Companies
Recent Highlights
All Stories for Asset Reconstruction Companies
Videocon goes bankrupt: Bids invited for debt-ridden firm under insolvency resolution process
•The corporate insolvency resolution process (CIRP) of Videocon Industries Ltd (VIL), which has debt of around Rs 20,000 crore, was commenced under the Insolvency and Bankruptcy Code (IBC) following an order by the NCLT Mumbai on 6 June 2018.
Allahabad Bank focuses on recovery, refers 65 NPA accounts involving around Rs 12,566 cr to NCLT for IBC resolution
Ians •Allahabad Bank said the number of "wilful defaulters" declared by the bank stood at 257, a two-and half-fold jump from March 2017 figure of 101
Rs 2.44 lakh crore NPAs sold to asset reconstruction firms: Study
Ians •The study stressed that incentive structure has to be introduced for banks where 100 per cent debt is sold to ARCs.
Parliamentary panel approves debt recovery law with changes
•The panel recommended that passing of an ex-parte order after the show cause notice of 30 days of the service of summons may be a violation of the principles of natural justice.
Why insolvency code and not stressed-assets funds can help banks fix bad loan woes
Smurlidharan •India has had so far as many as 12 ARCs in operation, with none of them registering even a modicum of success in arresting the problem of NPA
Bad loans: Bullish Edelweiss ARC eyes 40% rise in AUM in FY17
Fp Archives •The company's asset under management currently stands at Rs 25,000 crore, which in non-performing asset terms, would be worth Rs 56,000 crore.
Budget 2016: ARCs hail Arun Jaitley's move to open up sector to foreign investment
Fp Archives •Asset reconstruction companies (ARCs) said the clarity on taxation in Budget 2016 will help the banking system tackle the menace of bad loans.
Bankruptcy bill will be effective only if the govt beefs up benami law and matchmakers
Muralidharan •Without these two mechanisms in place, the bankruptcy code will be only as effective as a superb police force sans a fair and quick judicial system
FDI ceiling in Asset Reconstruction Cos raised to 74%
Fp Archives •The government had opened the ARC segment for FDI in 2005 as domestic companies did not have any experience in setting up this business
New RBI norms to help orderly development of ARCs, predict analysts
Fp Archives •The RBI hiked ARC's investments in securities receipts by three-fold to 15 per cent.<br />