Tupperware Brands and its subsidiaries have filed for Chapter 11 bankruptcy protection in the US. The company, known for its food storage containers, announced the filing on Tuesday amid increasing financial difficulties. Tupperware president and CEO Laurie Ann Goldman said the company’s financial situation has been severely affected by challenging economic conditions.”As a result, we … Read more
You announced on Thursday that the government will provide ₹30,600 crore in guarantees to the National Asset Reconstruction Co. Ltd to buy ₹2 trillion of bad loans from banks. This will be in a 15:85 split, with NARCL offering banks cash for 15% of the value of assets and issuing security receipts for the rest … Read more
Banks are likely to transfer about 80 large NPA accounts for the resolution to National Asset Reconstruction Company Ltd (NARCL), which is expected to be operational by next month. NARCL is the name coined for the bad bank announced in the Budget 2021-22. A bad bank refers to a financial institution that takes over the … Read more