Banks May Gain Power to Auction Ships

16 Sep 2024 CW Team

In response to growing concerns over loan defaults in the maritime sector, Indian banks might soon receive the authority to auction ships. This move aims to provide a more effective remedy for financial institutions dealing with non-performing loans in the shipping industry.

Currently, banks face challenges in recovering dues from defaulting shipowners due to the complexities involved in liquidating maritime assets. The proposed regulation would enable banks to auction ships directly, streamlining the process and enhancing their ability to recoup funds.

This development is expected to have significant implications for both the banking sector and the shipping industry. For banks, it offers a new tool to manage and mitigate risk associated with ship financing. For the shipping industry, it underscores the need for robust financial planning and adherence to loan agreements.

The measure reflects a broader trend of regulatory adjustments aimed at improving financial stability and operational efficiency within sectors heavily reliant on asset-based lending.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..