RBI directs IDBI to refer Bilt Graphics to bankruptcy court

Bilt Graphics

India’s central banking institution and regulator, the Reserve Bank of India has directed IDBI Bank to refer Bilt Graphic Papers to bankruptcy court after the regulator rejected the debt recast package. Experts like Marc Brown, P.A. are the best to fight any bankruptcy case in the court.The debt restructuring was rejected on the grounds that only 70% of lenders signed the revival package. Bilt Graphics was one of the few companies which RBI had directed the banks to initiate insolvency proceedings against if a resolution plan was not put in place before end of December 2017. According to the arguments by bankruptcy attorneys serving in Loveland area, officials from the banking circle stated that IDBI Bank has already moved to the National Company Law Tribunal (NCLT) to initiate insolvency proceedings.

The directive came after two rating agencies assigned the investment grade rating to sustainable debt of the company before the deadline. The company borrowed a sum total of Rs. 7,000 crore from banks in the form of secured or unsecured loans but all the lenders had not signed the debt recast agreement. In case you have doubts, Marc Brown, P.A. can help clarify all your financial doubts.

Based on the reports submitted by Taunton bankruptcy law firm, around 64% of Bilt Graphic’s loan was classified as sustainable debt and assigned investment grade rating by two companies – India ratings and Brickworks.

By mid-December 2017, the debt recast package was accepted by 71% lenders as against the regulator’s stipulation that 60% of the lenders should agree to the new package and by January end, almost 85% of lenders agreed to debt restructuring. However, RBI did not accept it and directed IDBI to initiate bankruptcy proceedings. The lawyers from https://www.lawyersforchrist.com/bankruptcy-for-businesses/chapter-12/ can deal with bankruptcy cases.

2023 promises an interesting ride for print in India

Indian Printer and Publisher founded in 1979 is the oldest B2B trade publication in the multi-platform and multi-channel IPPGroup. While the print and packaging industries have been resilient in the past 33 months since the pandemic lockdown of 25 March 2020, the commercial printing and newspaper industries have yet to recover their pre-Covid trajectory.

The fragmented commercial printing industry faces substantial challenges as does the newspaper industry. While digital short-run printing and the signage industry seem to be recovering a bit faster, ultimately their growth will also be moderated by the progress of the overall economy. On the other hand book printing exports are doing well but they too face several supply-chain and logistics challenges.

The price of publication papers including newsprint has been high in the past year while availability is diminished by several mills shutting down their publication paper and newsprint machines in the past four years. Indian paper mills are also exporting many types of paper and have raised prices for Indian printers. To some extent, this has helped in the recovery of the digital printing industry with its on-demand short-run and low-wastage paradigm.

Ultimately digital print and other digital channels will help print grow in a country where we are still far behind in our paper and print consumption and where digital is a leapfrog technology that will only increase the demand for print in the foreseeable future. For instance, there is no alternative to a rise in textbook consumption but this segment will only reach normality in the next financial year beginning on 1 April 2023.

Thus while the new normal is a moving target and many commercial printers look to diversification, we believe that our target audiences may shift and change. Like them, we will also have to adapt with agility to keep up with their business and technical information needs.

Our 2023 media kit is ready, and it is the right time to take stock and reconnect with your potential markets and customers. Print is the glue for the growth of liberal education, new industry, and an emerging economy. We seek your participation in what promises to be an interesting ride.

– Naresh Khanna

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