Vedanta: Latest entrant in steel industry eyes the big league
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.
Gruh Finance to independently chart growth path after merger with Bandhan Bank
The proposed acquisition of Gruh has already got approvals from the Competition Commission of India (CCI), Reserve Bank of India (RBI) and capital market regulator Sebi.
Adhunik Metaliks: NCLT cancels Liberty plan, orders liquidation
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
Our non-stop services to US are a hit among Indian travellers: Singapore Airlines India GM David Lim
Indian travellers are increasingly opting for Singapore Airlines’ non-stop services to Los Angeles, San Francisco and New York from Singapore, says David Lim, the airline’s general manager, India.
BK Birla Group’s Kesoram Industries cuts net debt by 24% as borrowings decline
The company had posted its first quarterly profit after about 10 quarters. Its
Tata Sponge aims to become ‘integrated steel enterprise’
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).
Adhunik Metaliks: NCLT reserves order on lenders’ petition to restart CIRP
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).
ITC’s Aashirvaad consolidates position, becomes over Rs 4,500-crore brand
ITC is a leading FMCG marketer in India and its non-cigarette or new FMCG business includes branded packaged foods, personal care products, education & stationery products and agarbatti, among others.
Allahabad Bank looks to recover Rs 2,000 crore bad loans per quarter
In the March quarter last fiscal, fresh slippages stood at `2,819.40 crore, out of which agriculture and MSME contributed 31.44% and 28.03%, respectively.
Veteran industrialist BM Khaitan dies at 92
The way Khaitan, born in a family of lawyers, had developed his tea empire was rather astonishing.
No-liquidity stress seen for NBFC-MFIs right now: Bandhan Bank CEO Chandra Shekhar Ghosh
Bandhan Bank’s exposure to NBFC-MFI sector stood at Rs 2,333 crore at the end of the last fiscal. As on March 31, 2019, its loan book stood at Rs 44,776 crore.
With Nature’s Basket buy, we get access to Mumbai and west: Shashwat Goenka
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.
ITC putting all its weight behind new FMCG business
Also, with the 20 ICMLs getting commissioned across the country, we will be able to produce more and more products close to the market and ensure freshness of products.
Lenders want restart of CIRP for Adhunik Metaliks
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.
Adhunik case: Lenders to move NCLT to debar Liberty House
The move comes after Liberty House failed to make the upfront cash payment of Rs 410 crore even within the extended timeline.
Uncertainty continues over Adhunik Metaliks: Liberty again seeks additional time for upfront payment, lenders don’t agree
Stating non-receipt of requisite regulatory approvals, UK-based Liberty House has not paid the required upfront cash payment of Rs 410 crore to the lenders by Sunday.
India amongst fastest growing, most strategic markets in APAC: Adobe MD
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.
Microsoft partnership ‘complementary’ fit from biz growth standpoint: Adobe
Speaking on the sidelines of a media conference here on Tuesday, the first day of the 'Adobe Summit 2019', Parasnis, also the company's chief technology officer, said, “We both are focused on same markets. We both have shar
Relief to Coal India: NCLAT sets aside NCLT’s insolvency order against ECL
The National Company Law Appellate Tribunal (NCLAT) has set aside an order by the Kolkata bench of the National Company Law Tribunal which allowed initiation of insolvency proceedings against Eastern Coalfields (ECL), a subsi
NCLT declines to revive CIRP process for Adhunik Metaliks by re-appointing resolution professional
The Kolkata bench of the National Company Law Tribunal (NCLT) has declined to pass an interim order, sought by the lenders to the bankrupt Adhunik Metaliks (AML), to revive the corporate insolvency resolution process (CIRP) b
Ready to acquire Adhunik Metaliks, Maharashtra Seamless tells lenders
The NCLT reserved its order on the CoC’s application for granting an extension of time in the corporate insolvency resolution process (CIRP) in this case.
PNB drags Binani to NCLT as subsidiary Edayar Zinc fails to repay loan
Binani Industries had stood as a guarantor to a loan facility extended to Edayar Zinc by a consortium of banks led by PNB.
Opposition leaders slam Modi-led NDA Government in Kolkata rally
The proposed "Grand Alliance", a pan-India anti-Bharatiya Janata Party front, gathered greater momentum on Saturday when leaders of major regional parties across the country launched scathing attacks against the Narendra Modi
Binani Cement: SC rejects Dalmia Bharat’s review petition
The Supreme Court has dismissed a petition filed by Rajputana Properties, a group company of Dalmia Bharat, seeking review of the apex court’s earlier judgment that had rejected its plea challenging the National Company Law
Binani Cement: Dalmia Bharat again knocks on Supreme Court’s door to seek judicial review
Rajputana Properties, a group company of Dalmia Bharat, has approached the Supreme Court, seeking review of the apex court's judgment which had dismissed its plea challenging the National Company Law Appellate Tribunal’s (N
Adhunik Metaliks Case: Lenders may negotiate with second-highest bidder
“Many people have shown interests in buying the company under the Insolvency resolution process,” Saha had said.
Current capital infusion may not help United Bank, says MD Ashok Kumar Pradhan
The bank believes growing its loan book is essential for growth in its operating profit in order to come out of the RBI’s Prompt Corrective Action (PCA) framework.
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