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GMR BANKRUPTCY
GMR's lenders agree to rework power unit's Rs 2,900 crore loansGMR Warora had defaulted on interest payments on its loans and bonds last year. The power unit has total debt of ₹2,913 crore, of which 81%...- Covid-19 Impact: JSW Energy terminates Rs 5,321 cr deal to acquire GMR Kamalanga EnergyIn February, JSW Energy had signed a share purchase agreement to acquire 100 per cent of GMR Kamalanga Energy, which owns and operates a 1,...
- JSW Energy shelves plan to buy GMR unitThe Sajjan Jindal group power generator in February said it will buy the 1,050 mw Kamalanga project located in Odisha for Rs 5,321 crore fr...
- NTPC outbids Adani for Avantha’s MP plantNTPC’s offer is the highest on a per-megawatt basis so far to buy out a stressed asset in the power sector.
- Banks recover ₹6,000 crore in Prayagraj saleFinancial creditors took a 52% haircut on their ₹12,500 cr of loan exposure to the company.
- GMR, lenders strike first resolution plan for AP plant after quashing of RBI circularUnder the resolution plan, approved by all 12 lenders to the project, the existing debt of Rs 2,353 crore has been brought down to a sustai...
- Supreme Court ruling on RBI circular to give tycoons reprieve on $55 billion of bad debtBusiness tycoons in industries will now have more room to negotiate loan repayment.
- Banks may not take a decision on stressed power plants by October 15In most resolution proceedings, banks have finalised the bidders but could not finalise deals due to resistance from 15-20% lenders.
- Bank of India puts 45 bad loan accounts worth Rs 8800 crore on saleThe bad loans include those of Essar Steel, Binani Cement, Bhushan Power and GMR Chhattisgarh.
- Recovery of power loans may be delayedThe RBI, as a regulator, will stick to its guns because this is a regulation that is formed and everyone has to adhere to it.
- Power companies move HC to get more time to settle with lendersThe high court had in its Aug 27 judgment said any individual having urgency can approach the court with material facts.
- Lenders will have 15-days to resolve the stressed accounts that come within RBI's Feb 12 circularThe general consensus among bankers and analysts is that majority of the cases would be referred to bankruptcy court due to lack of unanimi...
- Banks finalising power firms' debt resolution plansLenders are preparing for more than 50% haircut as they race to meet the August-end deadline set by RBI.
- Lenders to take GMR Chattisgarh and Jindal India Thermal to bankruptcy courtCompanies such as Adani and Vedanta and funds backed by India Resurgence, Edelweiss and KKR have shown interest in acquiring these power co...
- Power sector NPAs may be resolved soonOf a dozen distressed cos, four to be taken to bankruptcy court and the rest to be put on sale.
- HCC, Gammon, Jaiprakash Power & others may face renewed pressureBanks are expected to crack the whip on many big borrowers, especially those that owe more than Rs 2,000 crore.
- Top stocks in focus on 23 October 2017Here is a list of top stocks that are likely to be in focus in today's trading session.
- Debt-heavy stocks are high risk, high reward bets: Sandeep ShahCompanies could go into liquidation as well, if there is no serious restructuring proposal.
- Can’t repay Rs 100 crore to bank? Take 200 crore more, Mr DefaulterInvestors bet big on the Narendra Modi regime turning things around, boosting profits. Instead, the regime has piled on misery for companie...
- If you are an investor, hold GMR from long-term view: Sandeep Singhal, Emkay Global Financial ServicesThe issue in these stocks is that they are highly capital intensive projects, asset is very high.
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