{"id":497898,"date":"2022-06-13T09:41:04","date_gmt":"2022-06-13T04:11:04","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=497898"},"modified":"2022-06-13T10:53:23","modified_gmt":"2022-06-13T05:23:23","slug":"6-indian-banks-sue-gvk-coal-developers-in-london-for-1-5-bn-loan-default","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/6-indian-banks-sue-gvk-coal-developers-in-london-for-1-5-bn-loan-default\/","title":{"rendered":"6 Indian banks sue GVK Coal Developers in London for $1.5 bn loan default"},"content":{"rendered":"<p>Six Indian banks, namely Canara Bank, ICICI Bank, Bank of Baroda, Bank of India, Axis Bank and Indian Overseas Bank, have sued Singapore&#8217;s GVK Coal Developers for Rs 12,114 crore ($1.5 billion) plus interest in the London High Court, a report by The Times of India said.<\/p>\n<p>The banks have sued the GVK Group-owned GVK Coal Developers over dispute on a $1-billion loan and $35-million letter of credit facility that five banks lent to the company in 2011 and a $160-million loan lent in 2014, the report said. The banks have claimed that GVK defaulted on all these loans.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Six Indian banks, namely Canara Bank, ICICI Bank, Bank of Baroda, Bank of India, Axis Bank and Indian Overseas Bank, have sued Singapore&#8217;s GVK Coal Developers for Rs 12,114 crore ($1.5 billion) plus interest in the London High Court, a report by The Times of India said. The banks have sued the GVK Group-owned GVK Coal Developers over dispute on a $1-billion loan and $35-million letter of credit facility that five banks lent to the company in 2011 and a $160-million loan lent in 2014, the report said. The banks have claimed that GVK defaulted on all these loans.<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,170,130],"tags":[],"class_list":["post-497898","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-coal-business-standard-newspapers","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/497898","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=497898"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/497898\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=497898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=497898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=497898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}