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SBI moves insolvency plea against Jaiprakash Associates before NCLT

SBI moves insolvency plea against Jaiprakash Associates before NCLT

[ad_1] Country's biggest lender SBI has moved the National Company Law Tribunal (NCLT) against Jaiprakash Associates Ltd for initiation of insolvency proceedings against the debt-ridden company. State Bank of India (SBI) in its plea filed before the Allahabad bench of NCLT has claimed a total default of Rs 6,893.15 crore

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RRA recommends withdrawal of 225 more circulars: RBI

RRA recommends withdrawal of 225 more circulars: RBI

[ad_1] The Reserve Bank of India (RBI) on Monday said the Regulations Review Authority has recommended the withdrawal of additional 225 redundant circulars. The Reserve had set up the Regulations Review Authority (RRA 2.0) with an objective to reduce the compliance burden on regulated entities (REs). "Regulations Review Authority

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Kotak Mahindra bank backed Phoenix ARC set to acquire Bank of India’s VVF (India) loan

Kotak Mahindra bank backed Phoenix ARC set to acquire Bank of India’s VVF (India) loan

[ad_1] Kotak Mahindra Bank-backed Phoenix ARC is soon set to acquire some outstanding loans of VVF (India) from Bank of India at a discount of 50%, two people aware of the development told ET. The bank will declare Phoenix ARC as the winning bidder following an uncontested Swiss challenge auction held

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Delhi HC stays Punjab & Sind Bank from taking further action on Srei

Delhi HC stays Punjab & Sind Bank from taking further action on Srei

[ad_1] In a relief to Srei Group and its founder Hemant Kanoria, the Delhi High Court has ordered Punjab & Sind Bank to restrain itself from taking any further action on the company. This comes after a recent classification of Srei loans as fraud by the state-owned lender, which took its

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Unions’ strike partially impacts banking services

Unions’ strike partially impacts banking services

[ad_1] Banking services were partially impacted on Monday as a section of bank employees did not report for duty in support of the two-day nationwide general strike called by central trade unions. However, there was hardly any impact on the functioning of new generation private sector banks. Transactions at many

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Deloitte approaches 43 entities to seek bids for Reliance Capital

Deloitte approaches 43 entities to seek bids for Reliance Capital

[ad_1] Deloitte has approached 43 entities to assess their interest to bid for Reliance Capital, which is undergoing insolvency proceedings, said people briefed on the matter. Among those approached by Deloitte are HDFC Bank; SBI Life Insurance; ICICI Lombard General Insurance; financial services arms of industrial houses such as the Aditya

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