07-09-2016, 09:25 AM
(This post was last modified: 07-09-2016, 09:26 AM by whatamidoing.)
http://economictimes.indiatimes.com/indu...607268.cms
"Swiber Offshore India has appealed to the Bombay High Court to stop state-run Oil and Natural Gas Corporation from invoking a bank guarantee of $105 million (about Rs 700 crore) after the offshore construction and support services provider's Singapore-based parent ran into financial troubles...Huzefa Nasikwala, founder of Nasikwala Law Office, which is representing DBS, a bank that had issued the bank guarantee, refused to comment on the matter."
Wonder how many more bank guarantees are in place and if these are accounted for in DBS's exposure
"Swiber Offshore India has appealed to the Bombay High Court to stop state-run Oil and Natural Gas Corporation from invoking a bank guarantee of $105 million (about Rs 700 crore) after the offshore construction and support services provider's Singapore-based parent ran into financial troubles...Huzefa Nasikwala, founder of Nasikwala Law Office, which is representing DBS, a bank that had issued the bank guarantee, refused to comment on the matter."
Wonder how many more bank guarantees are in place and if these are accounted for in DBS's exposure