Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
 
 
April 25, Wednesday 2018 12:33 PM       

       HEADLINES: Baby girl found abandoned                                              POCSO Act: Death penalty will be futile, says Justice Shah                                              Siddaramaiah files nomination from Badami                                              Parliament is not immune to casting couch: Renuka Chowdhary                                              Decision to reject impeachment motion against CJI was not hasty: Venkaiah Naidu                                              Centre defends death by hanging in SC, says far safer and quicker                                              Death toll in Toronto truck collision rises to 10                                              Fire in karaoke bar in China kills at least 18                                              Selective army censorship of press may impact Pak polls                                              US plans to end work permits for spouses of H-1B visa holders                                              IPL '18: Kings XI Punjab prevail as DD continue to lose                                              I’ll share champagne with Kohli if he breaks my record: Tendulkar                                              Barcelona Open: Bopanna-Vasselin look for winning start                                              Zverer surges to 3rd spot, Nadal stays top in ATP rankings                                              Tendulkar recalls 'happy dents' of World Cup triumph                                              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
CBDT notifies introduction of section 112A in the Act  
'Diesel price hike affecting garment industries'  
Sensex gains for 2nd day, Nifty tops 10,600-level  
E-way bill rollout on Wednesday in four states: Centre  
Nifty ends above 10,550, up 20.65 points  
Millennials switching jobs fast, techies lead the way: Study  
Deposits in Jan Dhan accounts cross Rs. 80,000 crore  
Is cash crunch affecting printing machinery biz?  
Recruitment growth eases to 3% in March '18  
India's role to expand in Indo-Pacific region: IMF  
Forex reserves at life-time high of $426.082 bn  
Sensex ends flat; tech stocks surge  
Passengers could be compensated up to Rs. 20,000 for flight delays, cancellations: draft rules  
Rlys' operating ratio could be its worst ever in FY 18  
Chai villa: Engineering couple who gave up cushy jobs to sell tea  
Sensex spurts 96 pts in see-saw trade; metals shine  
Cash crunch: Now bank unions threaten agitation  
Sensex rises over 100 pts, Nifty above 10,500  
Reports of cash shortage defy logic: SBI  
Lenders need to be proactive in monitoring borrowers: RBI  
Loan default: DPIL directors presented before CBI court  
Parliamentary Committee summons RBI Governor amid banking scams  
Pay extra for choosing middle seats on Air India flights  
Govt invites EoI for strategic sale of Bharat Pumps  
China facing possible economic meltdown  
 
Do you agree with setting age limits for giving death penalty to rapists?
yes
 
no
 
no opinion
 
 
 
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