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ARCs want to be at par with Bad Bank

DNMUM416134 | 6/14/2018 | Author : Manju AB | WC :414

Mumbai: Asset reconstruction companies (ARCs) will ask the government and Reserve Bank of India (RBI) for a level-playing ground with the new Bad Bank the government plans to create.
All the 25 ARCs, which met in Mumbai on Wednesday, have decided to ask for a transparent pricing of loans so that every ARC has equal opportunity to bid and acquire the stressed assets that will be up for sale. The Association will petition Sunil Mehta committee which has been bestowed the task of setting up the broad contours of the Bad Bank.
ARCs said there should be uniform pricing parameters and that bad loans should not be just passed on to the new government-supported entity. The loan sales should be an outcome of a transparent bidding p
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Centre banking on EU to find ways to buy Iran oil
DNMUM422658 | 9/21/2018 12:00:00 AM | Author : Iftikhar Gilani | WC :269

New Delhi: Even as Chennai Petroleum has decided to stop processing Iranian crude oil from October to keep its insurance coverage, highly placed sources in the government here said that India was exploring a way out with the European Union for an alt
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Combination drugs ban hit to be marginal
DNMUM422663 | 9/21/2018 12:00:00 AM | Author : Edit | WC :231

After the ministry of health and family prohibited manufacture, sale and distribution of 328 fixed dose combination (FDC) drugs last week, the Supreme Court on Monday lifted the ban on four drugs, including Saridon, Piriton and Dart. The order came a
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OMDC settles creditor dues, comes out of NCLT
DNMUM422664 | 9/21/2018 12:00:00 AM | Author : Sumit Moitra | WC :284

Kolkata: Orissa Minerals Development Company (OMDC), a subsidiary of state-owned Rashtriya Ispat Nigam Ltd, has been able to settle dues of creditors.
The company has now come out from National Company Law Tribunal (NCLT) even after the initiati
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Gammon offers to settle terminal debt
DNMUM422665 | 9/21/2018 12:00:00 AM | Author : Ateeq Shaikh | WC :576

Mumbai: Gammon Infrastructure Projects, the developer for Indira Container Terminal Private Ltd at the Mumbai Port Trust, plans to make a one-time settlement of around Rs 477 crore to the lenders if the project goes for re-bidding.
The rebid
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