KIGALI (Reuters) - Rwanda signed loan agreements worth more than $300 million (229 million pounds) with China and India to fund roads and irrigation, officials said, as leaders from the two Asian powers made their first visits to the East African nation. Chinese President Xi Jinping visited Rwanda from Sunday to Monday and granted a loan to build two roads. India's Prime Minister Narendra Modi arrived on Monday on the way to a summit in South Africa and agreed $200 million in loans. "With India we signed a loan of $100 million for irrigation in three separate areas in the country and $100 million for developing special economic zones," Rwanda’s minister of finance Uzziel Ndagijimana told Reuters. "With China we signed a loan agreement of $76 million for the road from Huye to Kibeho and for the new Bugesera airport access road it is $50 million," Ndagijimana said. (Reporting by Clement Uwingiriyimana; Editing by Duncan Miriri and Andrew Heavens) … [Read more...] about Rwanda signs $300 million in loan deals with China and India
Odegaard loan deal
An investment group that had sought damages from Dechert concerning a fraudulent $50 million loan promoted by the former managing partner of Dreier is out of luck.Reversing a trial court’s denial of a motion to dismiss the Fortress Investment Group suit against Dechert, a New York appeals court today said the case could not proceed, Reuters reports.Dechert, which provided an opinion letter concerning the $50 million loan transaction, had no reason to question the validity of the signatures on loan documents for borrower Solow Realty: They were provided by Marc Dreier, who was in fact the legal counsel for Solow, the Appellate Division, First Department, explained in its written opinion.The appeals court also pointed out that Dechert had expressly stated in its opinion letter that it “assumed the genuineness of all signatures and the authenticity of the documents,” which were reviewed by legal counsel for Fortress.However, Solow Realty knew nothing about the $50 … [Read more...] about Appeals Court Nixes Investor Suit Over Dechert Opinion Letter re $50M Dreier Loan Deal
(Reuters) - Arsenal are looking at signing players who can ensure a strong finish to their Premier League campaign but the club's transfer activity this month could be restricted to loan signings, manager Unai Emery has said. The north London club, who have missed out on top-four finishes and Champions League qualification in the previous two seasons, are fifth in the table with 41 points, but Emery said fans could not expect permanent recruits in January. "We cannot sign permanently. We can only loan players," Emery told a news conference ahead of Saturday's league trip to West Ham United. The Spaniard pointed out the difficulties in recruiting players in the January transfer window but said the club were keeping their eyes open. "I know the club is working on possibilities of which players can help us with big performances like we need now," Emery added. "If we can find one player who can help us like we need, with the quality and a different player for getting in our squad, we are … [Read more...] about Arsenal may seek loan deals in January, says Emery
Share Tweet Plus One Pin It Email Print By: Mukesh Chand August 14, 2018 11:13 am Change Font Size The financial sector of the country is a major contributor towards the growth of the country. The sector comprises public sector banks (PSUs), commercial banks, insurance companies, Non-Banking Financial Companies (NBFCs), mutual funds, pension funds etc. The 17th Financial Stability Report (FSR)[i] released by RBI in June has highlighted that the stress in the banking sector continues as gross non-performing advances (GNPA) ratio rises further. Profitability of SCB[ii]s declined, partly reflecting increased provisioning. Credit growth of SCBs picked up during 2017-18 notwithstanding sluggish deposit growth. Macro-stress tests indicate that under the baseline scenario of current macroeconomic outlook, SCBs’ GNPA ratio may rise from 11.6 percent in March 2018 to 12.2 percent by March 2019. The system-level capital to risk-weighted assets ratio (CRAR) may come … [Read more...] about Towards Loan Market Structure: More Liquidity & Relief From Stressed Assets For Banks?
Share Tweet Plus One Pin It Email Print By: Apoorva Mandhani December 4, 2018 1:56 pm Change Font Size The National Company Law Appellate Tribunal (NCLAT) has held that an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 cannot be rejected on the ground of “usurious and extortionate penal interest”, which is governed by Usurious Loans Act, 1918. A bench comprising Justice SJ Mukhopadhaya (Chairperson) and Justice Bansi Lal Bhat (Judicial Member), in Sh. Naveen Luthra v. Bell Finvest (India) Ltd. & Anr. ruled, “‘The Presidency- Towns Insolvency Act, 1909’ having repealed, and there being a bar of jurisdiction under Section 231 of the ‘I&B Code’ as no civil court have jurisdiction in respect of any matter in which the Adjudicating Authority is empowered to decide under the Code, we hold that the provisions of Sections 3 & 4 of the ‘Usurious Loans Act, 1918’ are not … [Read more...] about S.7 IBC Application Cannot Be Rejected On Account Of “Usurious Penal Interest” Governed By Usurious Loans Act: NCLAT [Read Judgment]