Infrastructure finance firm IL&FS said it has resolved its debt of up to Rs 56,943 crore by September 30, 2022 through monetisation of various assets and reduced the number of entities to 101 from 302. The debt-ridden firm informed about the progress made in the ongoing resolution process till September 30, 2022 in an affidavit filed before the National Company Law Appellate Tribunal (NCLAT).
The portfolio size of NBFC-MFIs has grown nearly 7% quarter-on-quarter to Rs 101678 crore at the end of September, which is 37.53% of the total microfinance market. In contrast, banks engaged in microfinance saw their total microfinance portfolio shrink 0.45% quarter-on-quarter to Rs 97998 crore, accounting for 36.18% of the market.
Higher gold prices propel small businesses and businesses from the unorganised segments to seek gold loans to meet their working capital requirements.
Pristine Malwa proposed a ₹521-crore resolution plan, which includes payment to lenders, employees, and cash in the company. The offer equates to 30% recovery for verified creditors.
Industry experts say that in the last two years, more than 300 such engagements have taken place in one or more facets of value creation, including business repositioning, revenue enhancement, cost transformation, capital efficiency, and system or process reconfiguration.
The Reliance Capital's Committee of Creditors (COC) met on Friday and finalised the process and rules for conducting an e-auction for the bidders.
The Consolidated Committee of Creditors (CoC) of twin Srei companies may take two-three days to select the resolution plan from among three bids for the Kolkata-based NBFC entities, a senior official said on Friday.
Fintechs like Fi Money, Paytm, Google Pay and PhonPe have a deep understanding of how India’s fast evolving tech stack can be harnessed to the user’s benefit. Along with a cooperative government and regulator, this will allow fintechs to own the future of India’s financial innovation.
SWAMIH Investment Fund I is India’s largest social impact fund aiming to provide priority debt financing for the completion of stressed, brownfield and RERA registered residential projects that fall in the affordable, mid-income housing category. The fund is sponsored by the Ministry of Finance, Government of India and is managed by SBICAP Ventures, a State Bank Group co.