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Outlook.com
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Bankruptcy/ Bankrupt

RBI Hikes PMC Bank Cash Withdrawal Limit To Rs 50,000

Nov 05, 2019 PTI

With the above relaxation, more than 78% of the depositors of the bank will be able to withdraw their entire account balance.

Fourth PMC Tragedy: 83-Year-Old Heart Patient Depositor Dies

Oct 18, 2019 PTI

Murlidhar Dharra, had as much as Rs 80 lakh in deposits with PMC Bank but could not withdraw the money due to the RBI curbs.


Forever 21 Files For Bankruptcy; Plans To Exit In Asia, Europe

Forever 21, the teenage clothing emporium that rode America's mall boom and bust, said on Sunday that it filed for Chapter 11 bankruptcy.

Jet Airways Board Holds Emergency Meeting On Interim Funding, CEO Goyal's Future Role

Mar 25, 2019 Outlook Web Bureau

On an immediate basis, lenders are expected to give Rs 750 crore to Jet Airways, which would come by pledging the airline's stake in Jet Privilege with banks.


Jet Airways Suspends Services Of 13 International Routes Till End-April

The company said that it is actively engaged with all its aircraft lessors and is regularly providing them with updates on the efforts taken to improve the liquidity.

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25 January, 2019

Supreme Court Upholds Constitutional Validity Of Insolvency And Bankruptcy Code

Outlook Web Bureau

The operational creditors wanted to be treated at par with secured creditors like banks and financial institution who have first claim over the money coming through the proceedings under the insolvency law.


15 January, 2019

Utility Company Tied To California Wildfires To File For Bankruptcy

Outlook Web Bureau

Pacific Gas and Electric the utility company that has been tied to deadly wildfires in California said it plans to file for bankruptcy at the end of January.


12 July, 2018

The Weinstein Company Fires 20 Employees Ahead Of Bankruptcy Sale

Outlook Web Bureau

The company had been losing employees since the Harvey Weinstein sexual harassment scandal broke last October - the number has reduced to less than 70 this week from 140 staffers. The layoffs represent nearly a third of the remaining workforce.


27 February, 2018

Nirav Modi's Firestar Diamond Files For Bankruptcy In US

Outlook Web Bureau

Firestar Diamond blamed liquidity and supply chain challenges.


15 December, 2017

Controversial FRDI Bill With 'Bail-In' Clause, Deferred

Outlook Web Bureau

The so-called "bail-in" clause in the draft bill has been commented upon by experts as bringing potential harm to deposits, in the form of savings accounts.


13 December, 2017

SC Stays NCLT Order Allowing Centre To Take Over Unitech

Outlook Web Bureau

The apex court, which had yesterday expressed unhappiness over the Centre's move to approach the NCLT, said the stay on the company law tribunal's order would meet the ends of the justice.


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07 December, 2017

Preparing For Cyprus Moment: Centre May Allow Banks To Use Your Hard-Earned Deposits In Case It Collapses

Kumar Shankar Roy

Scary Bail-in clause in FRDI Bill cleared by the Union Cabinet in June 2017 allows banks to finance themselves using depositors money.


06 December, 2017

Two Chinese Lenders Plan To Take Anil Ambani's RCom To Insolvency Court To Recover Debt

Outlook Web Bureau

RCom is estimated to be in debt of around Rs 45,000 crore.


23 November, 2017

Prez Approves Govt Ordinance To Amend Insolvency, Barring Wilful Defaulters From Bidding For Their Own Assets

Outlook Web Bureau

The proposal for ordinance addresses concerns about various aspects of the Code, including the possibility of promoters wresting back control of a company under the insolvency process.



11 September, 2017

Jaypee Infratech Case: SC Asks Associates To Deposit Rs 2,000 Crore By October 27, Asks MD, Directors Not To Leave India

Outlook Web Bureau

The court also asked the interim resolution professional (IRP), a body formed by the National Company Law Tribunal (NCLT), to take over management of Jaypee Infratech.


10 September, 2017

After Jaypee Imbroglio, Centre May Amend Bankruptcy Code To Protect Interest Of Thousands Of Homebuyers

Outlook Web Bureau

More than 30,000 homebuyers of as many as 27 Jaypee projects in Noida and Greater Noida who are left in lurch after the NCLT admitted a plea of the IDBI for initiating insolvency proceedings against the company.


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30 August, 2017

Faced With Uncertainty, Jaypee Infratech Homebuyers Decide To Stop Paying Loan EMIs

Aniruddha Dhar

Around 32,000 homebuyers of as many as 27 Jaypee projects are left in lurch after the NCLT admitted a plea of the IDBI Bank for initiating insolvency proceedings against the debt-ridden company for defaulting on Rs 526-crore loan.


Photo Gallery

A tractor at work at the construction site of the Central Vista project, in New Delhi.

PTI Photo/Ravi Choudhary

Congress General Secretary and AICC in-charge of Uttar Pradesh (UP) Priyanka Gandhi speaks during 'Pratigya rally', ahead of UP Assembly elections 2022, in Moradabad.

PTI Photo

Tamil Nadu Chief Minister M. K. Stalin visits the flood affected areas, in Thoothukudi.

PTI Photo

Doctors release a health advisory during an awareness campaign against air pollution to mark National Pollution Control Day, in Kolkata.

PTI Photo

Rashtriya Janata Dal MLA Bhai Virendra and BJP MLA Sanjay Saravgi go for compromise in the presence of Speaker Vijay Kumar Sinha, RJD leader Tejashwi Yadav and Deputy CM Tarkishor Prasad following a verbal spat between...

PTI Photo
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