India's exporters are facing a severe credit crunch despite overall economic lending growth. Export credit has dropped by 5% over two years, with priority sector lending for exports falling by 41%. The Federation of Indian Export Organisation (FIEO) has raised concerns, urging the Reserve Bank of India and the finance ministry to address this issue urgently.
09 Sep, 2024, 01:21 PM IST
ATS Realty and Greenbay Infrastructure have paid Rs 130 crore to YEIDA under a one-time settlement scheme to revive stalled real estate projects in Uttar Pradesh. This payment is part of efforts to clear outstanding dues on land parcels near the upcoming Noida International Airport, aiming to expedite project completion for homebuyers.
04 Sep, 2024, 06:23 PM IST
The Supreme Court has ordered West Bengal Police to file charges against a bank's recovery agent firm that wrongfully seized and damaged a bus despite loan settlement. Bank of India is directed to recover compensation from the agent firm. Compensation was ordered following non-return of the vehicle to the loanee.
30 Aug, 2024, 05:51 PM IST
Zee Entertainment Share Price: Zee Entertainment shares rose 2.7% after the company announced a settlement with Sony's Culver Max Entertainment. Both parties agreed to withdraw all claims related to their failed merger, which had earlier received necessary regulatory approvals. The failed merger would have created India's largest entertainment network. Zee shares had fallen 46.5% this year.
28 Aug, 2024, 12:18 PM IST
PC Jewellers' shares surged 10% to Rs 56.2 in Monday's BSE trade following approval from PNB for a one-time settlement of its dues. The OTS terms include cash and equity components, release of securities, and mortgaged properties. However, specific details regarding outstanding dues with other banks and OTS specifics were not disclosed.
08 Jul, 2024, 12:21 PM IST
PC Jeweller Ltd announced on Sunday that Punjab National Bank has approved a one-time settlement for its outstanding dues. The approval was detailed in a regulatory filing by the company. "Punjab National Bank, the third largest bank after State Bank of India amongst consortium banks of the company in terms of its exposure, has conveyed its approval to the One Time Settlement (OTS) proposal submitted by the company."
07 Jul, 2024, 09:15 PM IST
The OTS offer, its acceptance and the sanction letter constitute a sufficient contract, the judge said. “Thus, the Punjab and Sind Bank, which is a nationalised bank and an instrumentality of the state, cannot act arbitrarily or whimsically in matters of contract.” The Punjab and Sind Bank (PSB) withdrawing the OTS was a “cryptic order, bereft of any reasons”, Justice Pushkarna said. 05 Jul, 2024, 10:47 AM IST
The Delhi High Court has ruled against Punjab and Sind Bank's withdrawal of a Rs 120 crore loan settlement from Ambience Pvt Ltd. The court deemed the withdrawal as arbitrary and unsustainable. The bank has been directed to release the securities provided by the company. The court clarified that the terms of the settlement, once accepted and sanctioned, are binding. Ambience had made the full payment as per the agreed terms, refuting the bank's allegations of deviation and concealment. A legal dispute over the loan settlement has been resolved by the court. 04 Jul, 2024, 07:43 PM IST
Jaiprakash Associates Ltd's lenders reject the revised ₹500 crore OTS proposal. With personal guarantees covering less than 2% of the ₹52,000 crore debt, creditors face challenges in recovering debt. 03 Jul, 2024, 11:25 PM IST
Lenders of Panipat Jalandhar NH 1 Tollway (PJTL) have agreed to a one-time settlement on Rs 3400 crore dues, accepting a Rs 1,020-crore all-cash offer from promoters Roadis Group and Soma Enterprises. The settlement, impacted by farmers' agitation, is subject to approval by all ten lenders in the consortium. SBI is the largest creditor. 03 Jul, 2024, 12:34 PM IST
NCLAT issues notice to ICICI Bank over Jaiprakash Associates Ltd's one-time settlement proposal, opposed by creditors. JAL aims to pay debt of over Rs 26,000 crore within 18 weeks if OTS is accepted. 11 Jun, 2024, 10:11 PM IST
GIFT City to launch foreign currency settlement system chaired by K Rajaraman, IFSCA, supported by RBI and Clearing Corporation of India. System to settle US dollar transactions between IBUs in real-time. CCIL subsidiary to operate FCSS, aiming for operation by October 2024. Other currencies may be added later 20 May, 2024, 08:54 AM IST
The government recovered Rs 852 crore under the amnesty scheme for exporters for one-time settlement of default in export obligation. The scheme, part of the new foreign trade policy, aims to settle default in export obligation by holders of advance and EPCG authorisations. Small exporters in Ludhiana have urged an extension of the scheme. 20 May, 2024, 12:20 AM IST
EPF auto-settlement of withdrawal claims: The EPFO in a press release has announced extending the coverage of auto-settlement of withdrawal claims to marriage, housing and higher education. The auto-settlement claim was earlier available for specified medical illness only. Read on to know who can apply for these claims, documents required to apply and other details. 16 May, 2024, 11:43 AM IST
"It has been observed that during the last few days, a large number of entities have shown interest in availing the scheme. Considering the interest of entities in availing the scheme, the competent authority has extended the period of the scheme till June 10, 2024," Sebi said in a statement. 08 May, 2024, 03:54 PM IST
NCLAT allows John Energy to deposit Rs 254 crore with 12% interest for OTS with ICICI Bank and Axis Bank, pending NCLT's decision on the insolvency plea. Various details and parties involved in the case are discussed. 21 Mar, 2024, 07:24 PM IST
The Punjab cabinet approved an excise policy to generate over Rs 10,000 crore from liquor sales. Colonisers can pay development charges in instalments. The One-Time Settlement scheme for tax arrears was extended. 1,390 medical officer posts will be created. 09 Mar, 2024, 06:28 PM IST
Interacting with the families, Kejriwal said his government will soon bring a scheme for a one-time settlement of water bills. 24 Feb, 2024, 07:25 PM IST
Delhi Chief Minister Arvind Kejriwal raised concerns over a "serious constitutional crisis" in the capital, attributing it to officers' refusal to work due to alleged "threats and pressure" from the BJP. He highlighted hindrances faced by a one-time settlement scheme for rectifying water bills, which he claims is being obstructed by officers under BJP pressure. Kejriwal urged Lt Governor VK Saxena to intervene, emphasizing that the scheme would benefit 10.5 lakh families. 19 Feb, 2024, 01:44 PM IST
