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SBI Seeks Promoter Guarantee, Share Pledge For Non-Personal Loan Recast

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SBI Seeks Promoter Guarantee, Share Pledge For Non-Personal Loan Recast

State Bank of India will seek either a personal guarantee from promoters or pledge of listed shares as part of its process of restructuring non-personal loans. India’s largest lender detailed its rules for such restructuring on Sept. 21, which the Reserve Bank of India permitted without a downgrade in classification of the loan to non-performing. A list of benchmarks have been provided by an RBI-appointed committee on restructuring of loans in individual industries.

Banks, however, have also been asked to frame board level policies for the upcoming restructuring. In a set of frequently asked questions issued, SBI said additional security would need to furnished in the case of restructuring.

The lender also said that an upfront processing fee of 0.25% of the aggregate loan amount would be charged. For term loans and working capital loans, among others, the interest cost would be raised by 100 basis points over the existing rate for working capital loans.

In the case of any additional loan facilities, SBI will ask promoters to contribute capital infusion of 10- 15% of the fresh sanctions. The bank will also retain a right of recompense for any concessions provided during the period. The framework isn’t applicable to personal loans and MSME borrowers with loans up to Rs 25 crore. Restructuring schemes for those categories fall under a separate set of rules, SBI said.

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The Madras High Court has granted early screenings of Vijay’s Leo movie from 7 AM, requesting the TN government to resolve any issues.

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The Madras High Court has granted early screenings of Vijay’s Leo movie from 7 AM, requesting the TN government to resolve any issues.

Madras High Court Grants Early Screenings of Vijay’s “Leo” Movie at 7 AM, Urges TN Government to Address Concerns

The Madras High Court has made a landmark decision in favor of the much-anticipated Tamil film “Leo,” starring actor Vijay. In a significant move, the court has granted permission for early screenings of the movie from 7 AM, urging the Tamil Nadu government to swiftly address any issues and facilitate the smooth release of the film. This decision marks a pivotal moment in the realm of Tamil cinema and the entertainment industry at large.

Historical Context:

The Indian film industry, particularly the Tamil film industry, has seen its share of controversies and challenges related to film releases. Issues such as censorship, political disputes, and public sentiment have often played a significant role in shaping the release schedules and screening times for films. Vijay, one of Tamil cinema’s most prominent actors, has been at the center of such controversies in the past. This decision by the Madras High Court is, therefore, particularly noteworthy.

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The Ruling:

The Madras High Court’s decision to permit early screenings of “Leo” comes as a response to a plea filed by the film’s producers. The court, while considering the plea, took into account various factors, including the film’s anticipated popularity and the prevailing circumstances. The court emphasized the importance of accommodating the audience’s interests and allowing them to enjoy the film without disruptions.

A Step Towards Normalization:

The court’s decision signifies a positive shift in the film industry, where release dates and screening times are often mired in controversy. By allowing screenings to commence at 7 AM, the court aims to reduce the chances of public unrest and congestion near theaters, especially in the wake of high-profile film releases.

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The Role of the Tamil Nadu Government:

The Madras High Court, in its ruling, also called upon the Tamil Nadu government to cooperate in ensuring a seamless release for the film. This cooperation extends to providing necessary security measures to maintain law and order around theaters during the early screenings.

Implications for the Entertainment Industry:

The decision is expected to set a precedent for the release of other highly anticipated films, not just in Tamil cinema but also in the broader Indian film industry. The court’s emphasis on the importance of accommodating the audience’s interests could lead to more flexible screening times for movies in the future.

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The Audience’s Perspective:

For moviegoers and fans of Vijay, this decision comes as a welcome relief. They can now look forward to enjoying the film without any undue delays or disruptions, ensuring a memorable cinematic experience.

In conclusion, the Madras High Court’s ruling to allow early screenings of Vijay’s “Leo” at 7 AM while urging the Tamil Nadu government to resolve any issues paves the way for a more audience-centric approach in the film industry. It is a landmark decision that highlights the importance of balancing the interests of filmmakers and the movie-loving public. This judgment is poised to make a positive impact on the release of future films, ushering in a new era of flexibility and convenience for cinema enthusiasts.

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