2016 liquidating dividend aspx id

The lenders may also choose to initiate legal proceedings for insolvency or recovery. In cases where RP is to be implemented, all lenders shall enter into an inter-creditor agreement (ICA), during the above-said Review Period, to provide for ground rules for finalisation and implementation of the RP in respect of borrowers with credit facilities from more than one lender.The ICA shall provide that any decision agreed by lenders representing 75 per cent by value of total outstanding credit facilities (fund based as well non-fund based) and 60 per cent of lenders by number shall be binding upon all the lenders.

If the ratings are obtained from more than the required number of CRAs, all such ratings shall be investment grade for the account to qualify for an upgrade. If the borrower fails to demonstrate satisfactory performance during the monitoring period, asset classification upgrade shall be subject to implementation of a fresh restructuring/ change in ownership under this Framework or under IBC.

The Review Period shall commence not later than: 13. No.21/ / 2015-16 dated March 17, 2016, as amended from time to time. Any RP under consideration as on the date of this circular may be pursued by lenders under this revised framework subject to meeting the requirements/conditions specified in this framework.

The RP may involve any action / plan / reorganization including, but not limited to, regularisation of the account by payment of all over dues by the borrower entity, sale of the exposures to other entities / investors, change in ownership and restructuring 14. Section I(E) of the framework shall not be in derogation to the provisions of the circular DBR. Yours faithfully, (Saurav Sinha) Chief General Manager-in-Charge Annex – 1 Prudential Norms Applicable to Restructuring 1.

In any case, once a borrower is reported to be in default by any of the lenders mentioned at 3(a), 3(b) and 3(c), lenders shall undertake a prima facie review of the borrower account within thirty days from such default (“”).

During this Review Period of thirty days, lenders may decide on the resolution strategy, including the nature of the RP, the approach for implementation of the RP, etc.

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  1. Speaking about her career, prior to acting on television and in moves, Katherine acted on Broadway, then made her silver screen debut with a minor role in ‘‘The Bride & the Groom’’, a short romance movie in 2007, and went on to star in ‘‘Matchmaker Mary’’ as Mary, in 2008.