The development is the first concrete sign that global banks are becoming more wary of financing Adani’s empire and coincides with comments from France’s TotalEnergies SE that a multi-billion dollar plan to produce green hydrogen with the Indian tycoon has been put on hold, pending audits of his conglomerate.
Non-banking finance companies-microfinance institutions (NBFC-MFIs) accounted for 35.1 per cent of the outstanding loans as of September 2022, surpassing banks which held a 34.8 per cent stake, the report by Crif High Mark said.
The post-pandemic period saw massive pent-up demand amongst sectors severely impacted due to Covid-19 and the subsequent lockdowns, such as travel and tourism, education, healthcare and automobiles, the company said in a release.
It said that NBFC-MFIs surpassed banks by a thin margin. Banks as a group controls 34.8% of the market, in which lenders provide micro loans without collateral to joint liability group members. Loans given by banks to self help group members are not included here.
The appellate tribunal has directed to list the petition on February 9, 2023, saying the appeal would be heard and decided by it. Vistra ITCL (India) Ltd, one of the members of the Committee of Creditors of Reliance Capital, has moved NCLAT against an NCLT order.
The National Company Law Tribunal (NCLT) on Monday rejected a plea by Torrent Investments -- one of the bidders for the Anil Ambani-promoted Reliance Capital -- that sought to halt the Committee of Creditors' voting to hold a second round of auction.
The decision was taken late Friday night at the committee of creditors (CoC) meeting to review offers received from the Hinduja Group and Torrent Investments. Lenders fixed the threshold price of ₹9,500 crore on a net present value (NPV) basis, which includes ₹8,000 crore as minimum upfront cash payment, the people said. finan
A consortium of alternative investment firm Varde Partners and institutional asset manager Arena has submitted a revised bid for the debt-laden Srei group entities after its previous plan was termed as "non-compliant", sources said on Sunday.
