Some email exchanges between officials revealed that certain estimates about project viability were given to investors that the top executives understood were financially unviable projects.
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FlexiLoans.com partners Vivriti Capital to disburse loans worth ₹300-cr to MSMEs
May 24, 2021
The partnership will be powered by FlexiLoans.com’s technology and credit underwriting platform ‘BiFrost’
Fintech platform FlexiLoans.com has partnered with Vivriti Capital to provide working capital financing of over ₹300 crore to Micro, Small and Medium Enterprises (MSMEs) across the country.
MSMEs can apply for loans online and receive in-principal approval within 24-48 hours digitally without manual intervention.
The partnership will be powered by FlexiLoans.com’s technology and credit underwriting platform ‘BiFrost’, which has been integrated with Vivriti’s Co-lending platform ‘CredAvenue’The partnership is aimed at reaching out to more 10,000 MSMEs in the next 12-18 months, the company said in a statement.
IL&FS Case: With Rs 43,000 Crore Of Debt Addressed, Targetted Recovery Raised By Rs 5,000 Crore To Rs 61,000 Crore
Uday Kotak speaks during an interview in Mumbai. (Abhijit Bhatlekar/Mint via Getty Images)
In a positive development, Uday Kotak led board of the Infrastructure Leasing and Financial Services (IL&FS) has successfully addressed Rs 43,000 crore debt of the bankrupt company, while also raising the expected overall recovery from the earlier estimate of Rs 56,000 crore to Rs 61,000 crore,
The Hindu Businessline.
IL&FS had an overall debt of about Rs 99,000 crore as of October 2018. The Rs 43,000 crore component addressed so far constitutes about 44 per cent of the same, and 71 per cent of the revised recovery target of Rs 61,000 crore.