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Counsel appearing for RCom argued that the stay on accepting bank guarantees furnished by Axis Bank was related to the Aircel group and not RCom. Photo: Hemant Mishra/ Mint

Mon, May 21 2018. 10 25 PM IST

HC asks Axis Bank to renew RCom bank guarantees

The Delhi high court was hearing an appeal moved by Anil Ambani-owned RCom against a DoT order to not accept any new bank guarantees from Axis Bank

On 1 May 2018, Insolvency and bankruptcy board of India stated that they seek comments from public on the rules and regulations notified under the Insolvency and Bankruptcy Code, 2016. Photo: iStock

Mon, May 21 2018. 12 59 PM IST

Bankruptcy code must include buyers

The Insolvency and Bankruptcy Code, 2016 is open for comments till December; the amendments will get enforced from 1 April 2019. Ashwini Kumar Sharma asked experts on what should be changed

Tata Steel had on Friday announced its acquisition of Bhushan Steel through its wholly-owned subsidiary Bamnipal Steel Ltd. Photo: Indranil Bhoumik/Mint

Mon, May 21 2018. 12 02 PM IST

NCLAT issues notice to Tata Steel over Bhushan Steel acquisition

The NCLAT notice came in response to a petition filed by Bhushan Steel promoter Neeraj Singhal, but the appellate tribunal declined to stay sale of Bhushan Steel to Tata Steel

Bhushan Steel was among the 12 NPA accounts RBI had referred to the NCLT proceedings under the insolvency and bankruptcy code last year. Photo: Bloomberg

Mon, May 21 2018. 10 42 AM IST

Tata-Bhushan Steel deal to reduce bank NPAs by Rs35,000 crore

Tata Steel has completed acquisition of controlling stake of 72.65% in Bhushan Steel for around Rs36,400 crore after emerging as the winning bidder in an insolvency auction

State Bank of India’s (SBI) Q4 loss will certainly be less than Punjab National Bank’s (Rs13,417 crore) but more than that of Canara Bank (Rs4,860 crore). Photo: Hemant Mishra/Mint

Mon, May 21 2018. 08 54 AM IST

SBI too will post Q4 loss, but how much?

RBI has allowed the banks to spread provisioning for depreciation in the bond portfolio over four quarters. Will SBI take advantage of that? Or, will it take the hit at one go in Q4?

Last year in June, RBI’s internal advisory committee identified 12 accounts, each having more than Rs5,000 crore of outstanding loans and accounting for 25% of total NPAs of banks.

Sun, May 20 2018. 05 38 PM IST

Finance ministry expects banks to get back over Rs1 trillion with resolution of 12 NPA cases

After the resolution of Bhushan Steel case, the remaining 11 NPA cases will easily bring to the table over Rs1 trillion and the amount coming from resolution under the IBC will directly add to the banks’ bottomline

For the full 2017-18 fiscal, Jaiprakash Associates reported a consolidated net loss of Rs2,596.62 crore as against net loss of Rs9,412.59 crore in the previous year.

Sun, May 20 2018. 03 52 PM IST

Jaiprakash Associates reports Q4 net loss at Rs78.70 crore

Jaiprakash Associates posts a standalone net income of Rs1,674.2 crore for the January-March quarter of 2017-18 as against Rs1,834.11 crore in the year-ago period

The investment in Bhushan Steel done via a combination of equity of Rs159 crore and loan of Rs34,974 crore, said Tata Steel. Photo: Reuters

Fri, May 18 2018. 06 30 PM IST

Tata Steel buys Bhushan Steel, to settle dues of Rs35,200 crore

Bamnipal Steel, a unit of Tata Steel Ltd, completed the acquisition of 72.65% in Bhushan Steel according to the debt resolution plan

Earlier this month, NCLT’s principal bench had approved Tata Steel’s resolution plan for Bhushan Steel, rejecting objections with respect to its ineligibility. Photo: Bloomberg

Fri, May 18 2018. 05 14 PM IST

Renaissance Steel asks NCLAT to declare Tata Steel’s bid for Electrosteel ‘ineligible’

Renaissance Steel contends that one of the UK subsidiaries of Tata Steel had flouted the UK Health and Safety at Work Act, pursuant to which fines were imposed on it. Hence, it is ineligible under insolvency code

RCom shares have now risen as much as 102% in last two sessions. So far this year, it declined nearly 49%. Photo: Bloomberg

Fri, May 18 2018. 10 52 AM IST

RCom shares tank to Rs14.10 as report shows deal with Ericsson unlikely

RCom shares tanked to Rs14.10 after surging as much as 24.77% in intraday trade to hit a high of Rs20.65 after gaining nearly 57% in the previous session

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