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The Ahmedabad bench of National Company Law Tribunal (NCLT) on Thursday reserved its order on insolvency proceedings initiated by lender ICICI Bank against ABG Shipyard Ltd

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Once the 'crown jewel' of Jasper InfoTech's (parent company of Snapdeal) portfolio, Freecharge, which until last year was the second largest mobile wallet player, has been sold to Axis Bank at almost one-tenth of the price.

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As banks try to recover cash from companies that defaulted on loans, top consulting partners and lawyers helping with the insolvency proceedings may end up earning as much as some Indian CEOs do.

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Essar Steel has moved the Gujarat High Court against insolvency proceedings initiated by the banks on the direction of the Reserve Bank (RBI).

State Bank of India chairman Arundhati Bhattacharya said the merger of public sector banks should be between equals and added that things will start getting better on asset quality by the second half of the year

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Essar Steel’s insolvency proceedings could turn into a test case for India’s bankruptcy framework with lenders differing on the choice of the so-called interim resolution professional (IRP)

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Essar Steel Ltd and Monnet Ispat and Energy Ltd have become the first of the 12 big bad loans cases identified by the Reserve Bank of India (RBI) against which bankruptcy proceedings have been filed

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