Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | Crunch time for 70 companies as RBI&#039;s NPA deadline ends    </title>
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-The Hindu Business Line

After Allahabad HC rebuff, power firms look for govt lifeline

Mumbai: About 70 companies with a combined debt of approximately ?3.6-lakh crore face insolvency proceedings, with the deadline imposed by the Reserve Bank of India ending on Monday...."/>
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After Allahabad HC rebuff, power firms look for govt lifeline

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                            <div align="justify">-The Hindu Business Line<br /><br /><em>After Allahabad HC rebuff, power firms look for govt lifeline<br /><br />Mumbai: </em>About 70 companies with a combined debt of approximately ?3.6-lakh crore face insolvency proceedings, with the deadline imposed by the Reserve Bank of India ending on Monday. These companies did not get any legal relief as the Allahabad High Court declined to stay the RBI&rsquo;s February circular instructing banks to take all large accounts above ?2,000 crore into bankruptcy if a resolution plan is not agreed upon in 180 days.<br /><br />The companies, mostly from the power sector, will now be hoping that the government invokes a special provision to intervene and direct the RBI to dilute the order. Companies that are part of Independent Power Producers Association of India, which had filed the plea with the Allahabad High Court, can also pursue legal recourse independently. The other option would be to try and cobble together a resolution plan in the next two weeks as banks have a 15-day window to resolve the stressed assets.<br /><br /><em>Setback for power companies<br /></em><br />Bankers said that 14 assets in the power sector have already been referred to the Bankruptcy Court, but 12 assets have the possibility of being recast. Within this, seven have already found bidders. <br /><br />Please <a href="https://www.thehindubusinessline.com/economy/crunch-time-for-70-companies-as-rbis-npa-deadline-ends/article24794734.ece?homepage=true" title="https://www.thehindubusinessline.com/economy/crunch-time-for-70-companies-as-rbis-npa-deadline-ends/article24794734.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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                            <div align="justify">-The Hindu Business Line<br /><br /><em>After Allahabad HC rebuff, power firms look for govt lifeline<br /><br />Mumbai: </em>About 70 companies with a combined debt of approximately ?3.6-lakh crore face insolvency proceedings, with the deadline imposed by the Reserve Bank of India ending on Monday. These companies did not get any legal relief as the Allahabad High Court declined to stay the RBI&rsquo;s February circular instructing banks to take all large accounts above ?2,000 crore into bankruptcy if a resolution plan is not agreed upon in 180 days.<br /><br />The companies, mostly from the power sector, will now be hoping that the government invokes a special provision to intervene and direct the RBI to dilute the order. Companies that are part of Independent Power Producers Association of India, which had filed the plea with the Allahabad High Court, can also pursue legal recourse independently. The other option would be to try and cobble together a resolution plan in the next two weeks as banks have a 15-day window to resolve the stressed assets.<br /><br /><em>Setback for power companies<br /></em><br />Bankers said that 14 assets in the power sector have already been referred to the Bankruptcy Court, but 12 assets have the possibility of being recast. Within this, seven have already found bidders. <br /><br />Please <a href="https://www.thehindubusinessline.com/economy/crunch-time-for-70-companies-as-rbis-npa-deadline-ends/article24794734.ece?homepage=true" title="https://www.thehindubusinessline.com/economy/crunch-time-for-70-companies-as-rbis-npa-deadline-ends/article24794734.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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    <h1 class="cat-box-title">Crunch time for 70 companies as RBI&#039;s NPA deadline ends</h1>
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                            <div align="justify">-The Hindu Business Line<br /><br /><em>After Allahabad HC rebuff, power firms look for govt lifeline<br /><br />Mumbai: </em>About 70 companies with a combined debt of approximately ?3.6-lakh crore face insolvency proceedings, with the deadline imposed by the Reserve Bank of India ending on Monday. These companies did not get any legal relief as the Allahabad High Court declined to stay the RBI&rsquo;s February circular instructing banks to take all large accounts above ?2,000 crore into bankruptcy if a resolution plan is not agreed upon in 180 days.<br /><br />The companies, mostly from the power sector, will now be hoping that the government invokes a special provision to intervene and direct the RBI to dilute the order. Companies that are part of Independent Power Producers Association of India, which had filed the plea with the Allahabad High Court, can also pursue legal recourse independently. The other option would be to try and cobble together a resolution plan in the next two weeks as banks have a 15-day window to resolve the stressed assets.<br /><br /><em>Setback for power companies<br /></em><br />Bankers said that 14 assets in the power sector have already been referred to the Bankruptcy Court, but 12 assets have the possibility of being recast. Within this, seven have already found bidders. <br /><br />Please <a href="https://www.thehindubusinessline.com/economy/crunch-time-for-70-companies-as-rbis-npa-deadline-ends/article24794734.ece?homepage=true" title="https://www.thehindubusinessline.com/economy/crunch-time-for-70-companies-as-rbis-npa-deadline-ends/article24794734.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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Crunch time for 70 companies as RBI's NPA deadline ends

Published on Aug 28, 2018   Modified on Aug 28, 2018

-The Hindu Business Line After Allahabad HC rebuff, power firms look for govt lifeline Mumbai: About 70 companies with a combined debt of approximately ?3.6-lakh crore face insolvency proceedings, with the deadline imposed by the Reserve Bank of India ending on Monday. These companies did not get any legal relief as the Allahabad High Court declined to stay the RBI’s February circular instructing banks to take all large accounts above ?2,000 crore into bankruptcy if a resolution plan is not agreed upon in 180 days. The companies, mostly from the power sector, will now be hoping that the government invokes a special provision to intervene and direct the RBI to dilute the order. Companies that are part of Independent Power Producers Association of India, which had filed the plea with the Allahabad High Court, can also pursue legal recourse independently. The other option would be to try and cobble together a resolution plan in the next two weeks as banks have a 15-day window to resolve the stressed assets. Setback for power companies Bankers said that 14 assets in the power sector have already been referred to the Bankruptcy Court, but 12 assets have the possibility of being recast. Within this, seven have already found bidders. Please click here to read more.

The Hindu Business Line, 27 August, 2018, https://www.thehindubusinessline.com/economy/crunch-time-for-70-companies-as-rbis-npa-deadline-ends/article24794734.ece?homepage=true

Tagged with: Non-Performing Assets Non-Performing Assets (NPAs) Insolvency and Banking Code Allahabad High Court

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