trending Market Intelligence /marketintelligence/en/news-insights/trending/eaucw9dkvlejahwbt8k1pq2 content esgSubNav
In This List

ICICI Bank files insolvency case against client


Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


Banks’ Response to Rising Rates & Liquidity Concerns

ICICI Bank files insolvency case against client

ICICI Bank Ltd. filed an insolvency case against Jaiprakash Associates after the company defaulted on a payment of 12.6 billion Indian rupees, the Financial Express reported Sept. 11.

ICICI Bank filed the case before the National Company Law Tribunal, which then issued notices to Jaiprakash Associates seeking a reply by Sept. 17.

Once an insolvency plea is admitted, the resolution process is typically expected to be completed within 180 days though it can be extended to 270 days.

As of Sept. 11, US$1 was equivalent to 72.67 Indian rupees.