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LOAN COVENANT BREACH
Vanguard marks Ola valuation down to $70 million, 99% lower from peakFunds managed by US investment giant Vanguard have slashed the fair value of ride-hailing platform Ola’s parent, ANI Technologies, to $70 m...- Profit on paper, loss in reality: How a routine accounting tool is used to deceive and take investors for a rideAmortisation is a number most investors skip, but it can shape reported profit. On the surface, it looks routine: A company spreads the cos...
- Ola Consumer's FY25 revenue drops 42%, losses widen, as company begins prep for IPOOla Consumer is moving ahead with its IPO plans. However, its recent financial reports show a significant drop in revenue and a doubling of...
- Moody’s downgrades Ola’s rating; flags risk of loan covenant breachThe global rating agency has assigned a negative outlook to ride-hailing firm Ola’s parent, ANI Technologies. According to Moody’s, a breac...
- Kinara Capital seeks equity capital to overcome debt challengesKinara Capital, a fintech lender, faces financial challenges due to losses from unsecured loans, reporting a ₹350 crore loss in FY25. The c...
- Lendingkart Finance reports losses, breaches bond covenant for 2024-25Lendingkart Finance, backed by Temasek, faced losses before tax in 2024-25, breaching a covenant on its ₹75 crore bonds. The company is see...
- Muthoot Microfin reports Rs 401 crore net loss in Q4 amid asset quality crisisMuthoot Microfin faced a significant setback, reporting a net loss of Rs 401 crore in the fourth quarter due to a surge in provisions for b...
- Byju’s, Davidson Kempner in talks to settle disputeByju’s and New York-based investor Davidson Kempner Capital have begun negotiations to settle their dispute over the breach of a loan coven...
- PharmEasy fails to raise Rs 1,000 crore equity, breaches covenant on Goldman Sachs loanPharmEasy was supposed to raise equity of around Rs 1,000 crore, or about $120 million, linked to its burn rate velocity. It has failed to ...
- Renegotiate loan terms or they may turn into ‘current liabilities’, auditors warn companiesIf the loans are classified as “current liabilities” in the year-end financials, it will impact the company’s liability-to-asset ratio, hin...
- Standard & Poor's cuts Tata Power outlook to 'Negative'Tata Power said the breach did not amount to a payment default and that it expected a favourable outcome of its talks with lenders.
- S&P lowers Tata Power credit rating outlook to 'negative'Standard & Poor's today lowered the credit rating outlook of Tata Power to 'negative', citing financial issues related to the company's 4,0...
- Change in accounting principles may hit companies' ability to borrowThe ministry issued the revised Schedule VI to Companies Act, through a notification (No. S.O. 447 (E)) by laying down a new format for pre...
- Global trends: New financial statements will help investorsAn important issue relates to the classification of such loans if there is a breach of a covenant as on the balance-sheet date.
- Aban Offshore admits it breached loan contractsChennai-based Aban Offshore, which along with its Singapore-based subsidiary Aban Singapore has Rs 16,635 crore of debt on its balance shee...
- Libor fall bails out Hindalco, JSWThe fall in the London Interbank Offered Rate; the world's most widely used reference rate for short-term lending — has come to rescue of t...
- Hindalco in talks with lenders to recast bank covenantHindalco Industries is negotiating with its lenders after it breached a condition linked to a $1-billion - about Rs 4,800 crore - loan whic...
- Overseas borrowing costs of cos to climbMost Indian firms, which had borrowed funds overseas until the Wall Street crash, are likely to see interest rates on loans rise sharply.
- India Inc's foreign loan costs go up 3%For most overseas loans, banks charge a premium over the benchmark London Inter-Bank Offered Rate (Libor). Top 20 Global Banks | Top Indian...
- Tata Communications faces liquidity crisis; reaches govt for helpFacing a severe liquidity crisis and the possibility of breaching long-term loan covenants, Tata Communications has approached the governme...
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