Earlier, in a big jolt to the ongoing restructuring efforts for the Williamson Magor group, the tribunal on Wednesday had ordered commencement of the insolvency resolution process for MBE on a plea of the financial creditor T
Rao said the bank has already restructured loans of Rs 285 crore and further identified Rs 200 crore to stressed MSMEs under the RBI’s debt recast scheme during FY20. The bank’s total exposure to the MSME sector stands at
After valuation we were thinking of diluting the stake. But in the meantime there were some developments. In February we got capital from the government and our bank came out of the RBI’s PCA framework.
Notably, in December last year, the NCLT Kolkata Bench had ordered winding up of 13 companies of Saradha Group, directing the official liquidator to take possession of assets and properties of all these companies.
According to Srei, the proposed step to consolidate its lending business into one entity is an attempt to create a long-term structure to be ready for “merger or conversion into a bank” and roping in strategic investors i
Venturing into the steel sector through these inorganic route entailed quite a struggle for the company, with the acquisition of the debt-ridden ESL materialising only after protracted battles in bankruptcy courts.
The Kolkata bench of NCLT had in July last year approved the resolution plan submitted by Liberty House, with lenders agreeing to take a haircut of around 92% and settling for `410 crore against their outstanding dues of `5,3
Tata Steel subsidiary Tata Sponge Iron is aiming to position itself as an “integrated steel enterprise” with a diversified business portfolio after completing the acquisition of the steel business of Usha Martin (UML).
The Cuttack bench of the National Company Law Tribunal (NCLT) has reserved its order on a plea by lenders seeking reinitiation of the corporate insolvency resolution process (CIRP) against bankrupt Adhunik Metaliks (AML).
Spencer’s Retail’s acquisition of Nature’s Basket from Godrej Industries will be very complementing, geography-wise and products-wise, believes Shashwat Goenka, sector head, retail & FMCG, RP-Sanjiv Goenka Group.
Notably, the LHG had earlier failed to meet the deadline for payment under CIRP within the stipulated time for Amtek Auto, prompting the tribunal to allow its lenders to go for a fresh round of bidding.
India is one of the fastest growing markets for Adobe in the Asia-Pacific region and also one of the most strategic markets for it globally, both from a business and innovation standpoint, states Kulmeet Bawa, MD, South Asia.