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Debt recovery News

20 Oct 2016

Vijay Mallya case: Karnataka HC summons beleaguered liquor baron to appear on November 24

In a case involved with alleged violation of an undertaking given by beleaguered liquor baron Vijay Mallya, Karnataka High Court summoned him on Thursday. Mallya and his companies had earlier provided an undertaking to not transfer their equity shares in United Breweries to Diageo Plc.

08 Aug 2016

Passage of quicker debt recovery bill credit positive: Moody's

Passage of the Bill to fast track debt recovery, together with the bankruptcy law passed earlier, will lead to structural improvements and is credit positive for Indian banks, Moody's Investors Service said on Monday.

Debt Recovery Bill

31 Jul 2016

Lok Sabha to take up Debt Recovery Bill on Monday

The government is scheduled to move in the Lok Sabha on Monday an amended bill to strengthen the debt recovery laws with an objective to improve the ease of doing business in the country.

11 May 2016

Govt brings Bill for faster disposal of debt recovery pleas

Amid furore over Vijay Mallya loan default matter, the government on Wednesday introduced in the Lok Sabha a Bill which provides for expeditious disposal of debt recovery applications pending before tribunals.

Finance Ministry

30 Jul 2014

FinMin sets up panel to give more teeth to debt recovery laws

The Finance Ministry has constituted a panel to give more teeth to the debt recovery laws to effectively deal with wilful defaulters and check bad loans which have soared to Rs 2.40 lakh crore.

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