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Loan Default

Can a bank auction my property if I default on my loan?

Can a bank auction my property if I default on my loan?

Thu, Nov 28, 2024

A loan is seen as a viable option to fulfil any big financial needs such as buying a house or a vehicle if there is a dearth of required funds. Loans allow a person to possess a property, go for higher studies or manage any other needs with the help of equated monthly instalment (EMI) payments each month.

PNB case: Diamantaire Nirav Modi's Pune flats to be auctioned in February 2023

PNB case: Diamantaire Nirav Modi's Pune flats to be auctioned in February 2023

Sat, Dec 31, 2022

The e-auction of these properties is considered a year-ender attempt to recover a part of the PNBs staggering due of over Rs 11,653 crore, calculated till early 2023.

Loan default: Shares of BoB, BOI among others banks fall over 6%

Loan default: Shares of BoB, BOI among others banks fall over 6%

Mon, Feb 19, 2018

Loan default case of Rotomac Global, promoted by Vikram Kothari, came close on the heels of the Rs 11,515-crore Punjab National Bank fraud by billionaire jeweller Nirav Modi

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Acharya blames RBI's forbearance schemes for NPA issue

Acharya blames RBI's forbearance schemes for NPA issue

Thu, Aug 24, 2017

"Unfortunately the RBI, for variety of reasons, has engaged in various forbearance schemes saying you can take another 18 months or two years...In one way or the other, we've actually contributed to the NPA problem to become so protracted over a period.

Dreams of Ola, Uber drivers crash as incentives trickle and loans catch up

Dreams of Ola, Uber drivers crash as incentives trickle and loans catch up

Tue, Apr 25, 2017

These drivers have been protesting low fares and low incentives that these taxi-hailing app companies are now offering.

Extradition request for Mallya certified by UK secretary of state

Extradition request for Mallya certified by UK secretary of state

Fri, Mar 24, 2017

The UK has conveyed to India that its request for extradition of industrialist Vijay Mallya, who has been declared a proclaimed offender, has been certified by the secretary of state.

Mallya says ready to talk to banks for one-time settlement

Mallya says ready to talk to banks for one-time settlement

Fri, Mar 10, 2017

The embattled liquor baron Vijay Mallya on Friday took to Twitter saying he is ready to negotiate with banks to pay a one-time settlement charge on Rs 9,000-crore loan default.

Vijay Mallya's sweetheart deal: Sebi may order payout for small investors

Vijay Mallya's sweetheart deal: Sebi may order payout for small investors

Thu, Jan 26, 2017

Market regulator Sebi is likely to order additional payout to small investors by way of a fresh open offer in loss to minority shareholders of United Spirits promoted by Vijay Mallya and new owner Diageo.

Kingfisher House to go on auction for 3rd time on Dec 19, reserve price at Rs 115 crore

Kingfisher House to go on auction for 3rd time on Dec 19, reserve price at Rs 115 crore

Sat, Nov 26, 2016

The 17-lender consortium to the defunct Kingfisher Airlines has again put on sale its erstwhile headquarters, Kingfisher House, but with a 15% reduction in the reserve price.

ED registers new money laundering case against Vijay Mallya

ED registers new money laundering case against Vijay Mallya

Wed, Aug 24, 2016

In more trouble for businessman Vijay Mallya, the Enforcement Directorate (ED) has registered a fresh money laundering case against him and his associates to investigate the alleged loan default of Rs 6,027 crore availed from a consortium of nationalised banks, a case taken over by Central Bureau

RBI questions banks for lending Rs 5,262 crore to rice trading firm REI Agro

RBI questions banks for lending Rs 5,262 crore to rice trading firm REI Agro

Mon, Aug 15, 2016

Reserve Bank of India (RBI) has questioned the decision of a 21-bank consortium led by UCO Bank to extend a staggering Rs 5,262-crore loan to Kolkata-based rice trading firm REI Agro which was found to be involved in fraudulent activities.

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