Companies failing to meet loan recast deadline may have to cede control

NEW DELHI: Companies seeking easier terms on their loans face the prospect of ceding management control to lenders under a new scheme being considered by the finance ministry and the Indian Banks’ Association (IBA). Further, promoters of a company will … Continue reading

Stressed infra doing distress sales

After holding on to their stressed assets for years, infrastructure companies have finally started selling out. It was the Rs. 3,800 cr JP – UltraTech deal last week, and more recently GMR Infrastructure announced that it has sold its majority … Continue reading

FDI spells cheer for Retailers in Distress

Private equity investors Bain Capital and TPG have transferred their shares in Lilliput Kidswear to promoter Sanjeev Narula, ending a months-long public spat and helping the kidswear brand join a growing club of struggling retailers making a comeback to woo potential … Continue reading

Suzlon Energy will default on $209-million FCCB- Last minute restructuring Efforts On

Loss-making Suzlon Energy, which binged on overseas acquisitions with borrowed money during the boom years of 2005-2008, is set to default on foreign loans worth more than $200 million after offshore lenders refused to give more time for repayment. Suzlon’s … Continue reading

PNB starts restructuring loans to state electricity boards

Amid rising concerns about funding for the power sector, public sector lender Punjab National Bank (PNB) has started restructuring loans doled out to state electricity boards, many of which are deep in the red. Even though banks are exercising caution … Continue reading