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idbi bank: IDBI Bank ropes in EY to sell ₹4,000 cr distressed debt

IDBI Bank hopes to recover about 15-18% from the portfolio sale, one of the people said. It has 631 accounts with principal loans of ₹4,000 crore. These include Daewoo Motors, Malvika Steel, Mardia Chemicals, Modi Rubbers, Precision Fasteners, Rajinder Steels, Steel Tubes of India, Surana Oil, Usha Ispat and Western India Shipyard. The distressed asset portfolio sale comes around the time when the promoters of the bank are preparing to sell a part of their stake. Life Insurance Corporation holds 49.2% of the bank, while the government owns 45%. Together, they plan to offload a 60.7% stake.

Sunil mehtaUsha ispatJayakumar pillaiCyril amarchand mangaldasSuresh khatanharAssets stabilisation fundIndia shipyardIndian banks associationLife insurance corporationSurana oilIdbi bankStressed assets stabilisation fundAmarchand mangaldasDaewoo motorsMalvika steelMardia chemicals

Monthly Digest Of IBC Cases: April 2023

Supreme Court IBC | Section 9 Petition Not To Be Dismissed If Few Invoices Are Time Barred But Remaining Invoices Are Not; Supreme Court Case Title: M/S Next Education India Pvt. Ltd. v M/S.

New delhiTamil naduWest bengalAndhra pradeshIndia generalVm suresh kumarShribachu venkat balram dasShri kishore vemulapalliBhupendra singh rajputJusticem venugopalShri rahul bhatnagarArvind gaudanaV vikasg jainSushil mantriShrisatya ranjan prasadShri subrata kumar

Weekly Digest Of IBC Cases: 29 March To 9 April 2023

Supreme Court IBC | Section 9 Petition Not To Be Dismissed If Few Invoices Are Time Barred But Remaining Invoices Are Not; Supreme Court Case Title: M/S Next Education India Pvt. Ltd. v M/S.

Tamil naduAndhra pradeshJusticem venugopalShrisatya ranjan prasadGautam adaniKaushalendra kumar singhShrit krishnavalliShri barun mitraJusticemr shahUday kumar bhaskarJustice rakesh kumar jainAhsan ahmadArvind gaudanaSubhash kumar kundraJustice ashok bhushanJusticect ravikumar

Section 30(4) Of IBC Directory In Nature, Does Not Compel COC To Distribute Payments Based On Value Of Security : NCLT Hyderabad

The National Company Law Tribunal (“NCLT”), Hyderabad Bench, comprising of Shri Dr. N. V. Rama Krishna Badarinath (Judicial Member) and Shri Satya Ranjan Prasad (Technical Member), while.

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IDBI Bank net profit surges 318 per cent to ₹603 crore in Q1FY22

IDBI Bank net profit surges 318 per cent to ₹603 crore in Q1FY22
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Gross npasIdbi bankAssets stabilisation fundStressed assets stabilisation fundஇட்பி வங்கி