Latest News for: Insolvent bank

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Yes Bank shares rally 14% today, trade around 2 year highs

Live Mint 09 Dec 2022
The banking stock has outperformed by gaining more than 52% in the last six months.Yes Bank has moved the National Company Law Tribunal (NCLT) to initiate corporate insolvency resolution process (CIRP) against Digital Ventures Pvt ... to procure the final approval, the bank added.
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Yes Bank rallies 15% on heavy volumes. Is it ready to become a multibagger?

The Times of India 09 Dec 2022
Shares of Yes Bank ... Furthermore, the bank has moved the National Company Law Tribunal (NCLT) to initiate a corporate insolvency resolution process (CIRP) against Digital Ventures, a wholly-owned unit of Zee Learn ... "Backers like State Bank of India ... and ICICI Bank ... Yes Bank reported a ...
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Srei CoC evaluates bids, finalisation likely in 2-3 days

Financial Express 09 Dec 2022
After the insolvency petitions filed by the Reserve Bank of India were approved by the Kolkata bench of the National Company Law Tribunal, proceedings against SIFL and its subsidiary SEFL began in October 2021 ... Financial lenders include State Bank of India, Punjab and Sind Bank, ...
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Reliance General Insurance seeks Rs 600 crore capital infusion from parent

The Times of India 08 Dec 2022
RCL is undergoing resolution process under the Insolvency and Bankruptcy Code (IBC) and has received binding bids from Oaktree, Cosmea-Piramal consortium, Hinduja ... The Reserve Bank of India (RBI) had on November 29 last year superseded the board of RCL in view of payment defaults and serious governance issues.
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Signature Bank shrinks crypto-tied deposits by $8-10B

Cryptoslate 08 Dec 2022
Crypto-friendly Signature Bank (SBNY) announced that it would shrink its deposits tied to crypto assets by $8 – $10 billion ... Signature Bank was the only U.S ... However, the bank claims that it is not experiencing any insolvencies due to the collapse.
photo: AP / Fabrizio Bensch
The former CEO of payment company Wirecard, Markus Braun, waits for his testifying at a German parliamentary investigate committee in Berlin, Germany, November 19, 2020
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Germany opens Wirecard fraud trial over missing $2bn

Al Jazeera 08 Dec 2022
A favourite with investors, it entered Germany’s blue-chip DAX index in 2018 and at its peak was valued at more than 24 billion euros ($25bn), outweighing giant Deutsche Bank ... The cash, which made up a quarter of Wirecard’s balance sheet, was meant to be sitting in trustee accounts at two banks in the Philippines ... Filing for insolvency.
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ALEX BRUMMER: No one involved in the £20bn LDI scandal has shown even the slightest remorse

The Daily Mail 08 Dec 2022
No one involved in this enormous scandal, which required a £20billion intervention from the Bank of England to prevent a cascade of insolvencies, has shown the slightest remorse ... September's meltdown in the gilts market required a £20bn intervention from the Bank of England to prevent a cascade of insolvencies ... Switch bank. Switch bank.
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ALEX BRUMMER: No regret for gilts bedlam

This is Money 08 Dec 2022
No one involved in this enormous scandal, which required a £20billion intervention from the Bank of England to prevent a cascade of insolvencies, has shown the slightest remorse ... Lloyds Bank’s pension fund had to sell billions of pounds of assets during the turmoil to meet demands for collateral.
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Debt Exchange: Proposal put forward by government drastic and steep – Prof. Bokpin

Joy Online 08 Dec 2022
Bokpin, the prevailing economic situation has become a matter of grave concern, especially for banks, as they are at risk of becoming insolvent due to their eroding capital. He has projected that banks may have to recapitalize in the next three years to remain robust.
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Oaktree may exit from Reliance Capital resolution process

The Times of India 08 Dec 2022
Sources said that foreign banks are pushing for descending auction ... The Reserve Bank of India (RBI) had on November 29 last year superseded the board of RCL ... The RBI appointed Nageswara Rao Y as the administrator in relation to the Corporate Insolvency Resolution Process (CIRP) of the firm.
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Varde-Arena, NARCL top contenders for Srei firms

Financial Express 07 Dec 2022
... under the corporate insolvency resolution process ... Insolvency proceedings against SIFL and its subsidiary SEFL commenced in October 2021 after insolvency petitions filed by the Reserve Bank of India were approved by the Kolkata bench of the National Company Law Tribunal (NCLT).
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Dubai conference that led to diamantaire Jatin Mehta and family being cornered

Hindustan Times 07 Dec 2022
Buried deep under reams of court documents, complex arguments, and lengthy rulings by the high court in London lies the riveting details of how Standard Chartered Bank and Grant Thornton managed to corner fugitive diamantaire Jatin Mehta and his family in faraway London ... It is noteworthy that the 14 remaining banks were not part of this exercise.
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Jet Airways revival hits new snag as banks push back on funding

Live Mint 06 Dec 2022
State Bank of India and Ashish Chhawchharia, the court-appointed professional running the carrier’s insolvency, didn’t immediately respond to messages and phone calls seeking comment.A revival of Jet Airways, previously majority owned by former billionaire Naresh Goyal, is key to ...
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Jet Airways' comeback plan hits roadblock over ex-staff's $30 million demand

Hindustan Times 06 Dec 2022
State Bank of India and Ashish Chhawchharia, the court-appointed professional running the carrier’s insolvency, didn’t immediately respond to messages and phone calls seeking comment ... The snag also threatens to set back a process of about three years that was to see banks recover about 5% of the some 78.1 billion rupees they were owed.

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