Corporate Notes

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: Vishal Retail in pact to recast Rs 730-cr debt

Vishal Retail on Tuesday said it has signed an agreement with lenders for restructuring the terms of the chain's Rs 730 crore debt and the process would kickstart within the next few days. “The agreement with our lenders has been signed and the corporate debt restructuring process will begin within the first half of November,” Vishal Retail Group president Ambeek Khemka told

Jet to sack 25 expat pilots

Private carrier Jet Airways is understood to have decided not to renew 25 foreign pilots’ service contracts, which are ending this month. The pilots have been served 30-day notice stating that their services were not required at this stage, a Jet Airways source said on Tuesday.

L&T’s Rs 6,897-cr order

Larsen & Toubro (L&T) has bagged a Rs 6,897-crore engineer-procure-construct (EPC) order from Maharashtra State Power Generation Company for super-critical boiler turbine generator units. When commissioned, Mahagenco’s 1980-mw project in Koradi, Nagpur, will add close to 50 million units to the national grid everyday. L&T’s advanced supercritical thermal sets will ensure higher plant efficiencies and lower greenhouse gas emissions.

JK Tyre exports plan

JK Tyre and Industries is aiming to double exports from its Mexican subsidiary, Tornel, within a year, and is looking at the central and South American markets for expansion. “Currently, only 25% of Tornel’s annual production is sold overseas. Our target is to increase the share of exports to 50% within a year,” MD and vice-chairman RP Singhania said.

Madras Cements arm stake

The board of directors of Madras Cements Ltd has decided to divest the shares in the wholly owned subsidiary, Madras Sugars Ltd, which was incorporated for the purpose of carrying out sugar business, the company said in filing with BSE

BSNL-Sistema Shyam pact

State-owned Bharat Sanchar Nigam Ltd on Tuesday entered into an agreement with private mobile operator Sistema Shyam to share its passive infrastructure, including towers and bandwidth. This is for the first time BSNL is sharing its huge infrastructure across the country with other telecom service providers. The sharing of infrastructure by BSNL will help the existing and new operators in faster roll out of their network across the country and will facilitate the tele-density in rural areas.

Videocon fund-raising