Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
 
 
July 23, Monday 2018 1:59 AM       

       HEADLINES: CPM set to expand LDF                                              Man stabs son to death                                              Security beefed up at nun’s convent, interrogation of bishop delayed                                              Withdrawing novel an embarrassment for Kerala, says Chennithala                                              VS discharged from hospital                                              Three militants killed in Kashmir encounter                                              Two arrested for killing sister-in-law                                              Herald case: Vora moves court seeking to restrain Swamy                                              Actor Siddharth Shukla's BMW rams into three cars                                              BJP submits privilege notice against Rahul Gandhi for 'misleading' Parliament                                              Lawyers meet jailed Sharifs                                              One dead in US supermarket shooting, suspect arrested                                              Israel's LGBT community protests for fathers' surrogacy rights                                              Key to Root's ODI success was picking Kuldeep from his hand: Tendulkar                                              Bumrah's surgery in England ‘not a great success’, fitness before Tests in doubt                                              Kaumudi Facebook
       BUSINESS Next Article: Grundfos unveils mobile application for customer service  
       Financial bids for all 12 large NPA accounts by month-end: SBI
 
         Posted on :22:24:39 Jan 10, 2018
   
A A
       Last edited on:22:24:39 Jan 10, 2018
         Tags: Financial bids for all 12 large NPA accounts
 
New Delhi: Country's largest lender State Bank of India (SBI) expects financial bidding process for resolution of 12 big stressed accounts to be over by the end of this month, said the bank's top official.
 
SBI is the lead banker in 6 out of 12 large NPAs with total outstanding loan of Rs 1.75 lakh crore.
 
"Financial bids of Electrosteel and Monnet Ispat have already come. We hope to receive bids for remaining cases during this month itself," SBI Chairman Rajnish Kumar told PTI.
 
Other cases which are pending before the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code (IBC) are Essar Steel, Bhushan Steel, Bhushan Power and Steel, Lanco Infra, Alok Industries, Amtek Auto, Era Infra, Jaypee Infratech, ABG Shipyard and Jyoti Structures.
 
RBI's internal advisory committee (IAC) in June identified 12 accounts, each having more than Rs 5,000 crore of outstanding loans and accounting for 25 per cent of total NPAs of banks.
 
Non-performing Assets(NPAs)of public sector banks have increased to Rs 7.33 lakh crore as of June 2017, from Rs 2.78 lakh crore in March 2015.
 
Besides, RBI also came out with 28 large stressed accounts in the second list. In August, RBI had asked banks to either resolve these stressed accounts or refer them to NCLT by December 31.
 
As part of the second list, bankers decided to take all cases but Anrak Aluminium, Jayaswal Neco Industries, Soma Enterprises and Jaiprakash Associates for resolution.
 
The Supreme Court today said it would decide at a later stage the application of RBI seeking its nod to file insolvency proceedings before NCLT against the promoter company Jaiprakash Associate Limited (JAL).
 
The apex court directed realtor JAL to give details of its ongoing housing projects in the entire country while reiterating its direction that its directors shall not alienate their personal properties.
 
A bench headed by Chief Justice Dipak Misra also directed amicus curie Pawan Shree Agrawal to set up a portal to take note of the grievances of the home buyers of JAL.
 
IBC has defined a time-frame for the resolution and there is a 14-day time period for admission or rejection of a case by NCLT.
 
After a case is accepted by NCLT, the creditor gets 30 days to hire insolvency practitioners and then the entire process is to be completed in 180 days which takes into account various possibilities including revival of projects or liquidation.
A A
       BUSINESS
Next Article: Grundfos unveils mobile application for customer service
 
 
BUSINESS HEADLINES
South Indian Bank net profit nosedives in Q1  
HDFC Bank Q1 net up 18 pc to Rs 4,601 cr  
Rupee recovers from record lows, up 9 paise against US dollar  
Google to string undersea cable from France to Virginia  
Sensex slides 146 pts on profit-booking, political developments  
India prepared to impose 'safeguards' if steel imports rise: government source  
Nickel falls on lower demand  
May announces new 2 bn pounds UK-Italian fighter jet project  
Infosys shares soar 6% after Q1 earnings  
Rupee slips 6 paise against US dollar  
Niti Aayog working on proposal to replace LPG subsidy with cooking subsidy: Kumar  
India to be $10 trillion economy by 2030: Garg  
No question of closure of DCI; 3 ports to pick up govt stake: Gadkari  
India to be $10 trillion economy by 2030: Garg  
Markets slip from record to end flat on profit-booking  
Markets slip from record to end flat on profit-booking  
No question of closure of DCI; 3 ports to pick up govt stake: Gadkari  
Retail inflation rises to 5 percent in June  
Retail inflation soars to 5% in June, IIP presides to 3.2% in May  
Indian Army signs MoU with SBI on salary package  
US dollar ends sharply lower against rupee  
Gold, silver recover on mild demand  
BSNL starts first internet telephony service in India  
Sensex nears all-time high; TCS shines on Q1 show  
Gold futures gain 0.06% on global cues  
 
Do you support women's entry in Sabarimala?
Yes
 
No
 
Don't Know
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy