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Wind turbine maker Suzlon Energy plans debt rejig after stake sale fails

Thursday, December 5, 2019, 8:23 PM

Wind turbine maker Suzlon Energy and its bankers are working on a debt restructuring programme to avoid the bankruptcy court for resolution. This is after talks for stake-sale with potential buyers collapsed. Chairman Tulsi Tanti told ET that the domestic wind energy market faces problems that have made foreign-investors wary of investing, forcing the company to drop its stake sale-plan to resolve debt issues.
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NBFC/HFC bankruptcy provisions positive for banks: Moody's

Monday, November 25, 2019, 8:33 PM

To allow bankruptcy proceedings against non-banking financial companies (NBFCs) is positive for banks as its paves the way for orderly resolution of stressed shadow banks, says a report. The government recently empowered RBI to refer stressed NBFCs and HFCs with assets worth of at least Rs 500 crore to insolvency courts after notifying Section 227 of the Insolvency and Bankruptcy Code.
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Travel Giant Thomas Cook Declares Bankruptcy After Failing To Reach Deal

Monday, September 23, 2019, 4:34 PM

British travel group Thomas Cook declared bankruptcy after failing to reach a last-ditch rescue deal, triggering the UK's biggest repatriation since World War II to bring back stranded passengers. The 178-year-old operator had been desperately seeking £200 million ($250 million, 227 million euros) from private investors to save it from collapse. Thomas Cook chief executive Peter Fankhauser called it a "deeply sad day".

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