Mithun Dasgupta

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.

nclt, liberty News

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.

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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

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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, nclat News

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

NCLT, CIRP, AML, Committee of Creditors, DP Jindal Group, Liberty House News

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.

Adhunik Metaliks, Maharashtra Adhunik Metaliks, acquiring Adhunik Metaliks News

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.

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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

opposition rally in kolkata, massive rally in kolkata, massive opposition rally in kolkata, mamata banerjee, chanfrababu naidu, akhilesh yadav News

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, Rajputana Properties, NCLAT, UltraTech Cement, supreme court News

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

Industry News

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.

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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.

Markets News

Allahabad Bank working hard to meet Rs 1,000 crore recovery target in Q3

As a part of the turnaround strategy, the lender, which is under the prompt corrective action (PCA) of the Reserve Bank of India, is looking to bring down the net NPA ratio to below 6% by the first quarter next fiscal.

Allahabad Bank, banking sector, economy, india, banking industry News

NCLAT stays insolvency proceedings against ECL

Notably, pronouncing the order on December 19, Justice Gosavi of NCLT Kolkata bench said, "The application filed by the operation creditor under Section 9 of the Insolvency & Bankruptcy Code, 2016, is hereby admitted for init

National Company Law Appellate Tribunal, nclat, tata trusts News

NCLT orders insolvency resolution process against CIL subsidiary

In a setback to Coal India (CIL), the Kolkata bench of the National Company Law Tribunal (NCLT) has ordered commencement of the corporate insolvency resolution process against its subsidiary Eastern Coalfields (ECL).

Industry News

UCO Bank expects profitability boost

State-run Uco Bank is hoping that its profitability for the current fiscal will increase as its current account savings account (CASA) deposits is expected to get a major boost after India and Iran signed an agreement for oil

Markets News

Bidding battle: Adhunik Metaliks lenders reject Liberty House offer

UK-based firm had offered to pay outstanding amount of `410 cr in two instalments by January 15

adhunik metalics, nclt News

Saradha chit fund scam: NCLT orders closure of 13 group companies

The Kolkata bench of the National Company Law Tribunal (NCLT) has ordered winding up of 13 companies of the now-defunct Saradha Group, directing the official liquidator to take possession of assets and properties of all these

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All secured Binani creditors receive dues

All secured creditors of bankrupt Binani Cement (BCL) received their dues on Tuesday, a day after the Supreme Court allowed UltraTech Cement to acquire the cement firm under the corporate insolvency resolution process (CIRP).

Binani Cement resolution professional , binani cement, National Company Law Tribunal , nclt News

Liquidity stress: MFIs hope to retain loan disbursement growth in Q3

Although flow of credit from lenders to mid-size microfinance institutions (MFIs) has improved significantly since last week, small MFIs are still facing the challenging situation on the back of liquidity stress. Microfinance

mfi, cash flow News

Bengal Chemicals logs highest-ever profit, income in H1

The company has three divisions—home care & personal care, pharma and industrial chemicals — with pharma, and home care & personal care divisions contributing around 65% and 30% of its total sales, respectively.

Markets News

How Huawei is betting big on Artificial Intelligence

On Wednesday, during the opening day of the event, another rotating chairman of the company Eric Xu announced the company's AI strategy as well as its full-stack, all-scenario AI portfolio.

Industry News

NCLT dismisses insolvency petition against Duncans Industries

The petition was filed by a Surat-based firm against the ailing tea company as the latter was unable to pay Rs 41.55 lakh towards the supply of various pesticides and herbicides.

Industry News

RBI restrictions not to impact business growth, says Bandhan Bank

Bandhan Bank on Saturday said the restrictions imposed by the Reserve Bank of India (RBI) on its branch expansion is not likely to impact its business growth.

bandhan bank, rbi News

NCLT admits insolvency case against West Bengal government undertaking

The Kolkata bench of the National Company Law Tribunal (NCLT) has admitted insolvency proceedings against West Bengal Mineral Development & Trading Corporation (WBMDTC), a government of West Bengal undertaking.

NCLT, WBMDTC, Hiranmaye Energy, India Power Corporation, Insolvency & Bankruptcy Code, Committee of Creditors News

In no rush to float equipment finance IPO in current ‘weak’ market: Srei

Srei Infrastructure Finance will not rush into launching an initial public offering (IPO) of its wholly-owned subsidiary Srei Equipment Finance (SEFL) as it feels the current overall market sentiments are ‘weak’.

Srei, Srei Infrastructure Finance, initial public offering, Srei Equipment Finance, market News

Huge write-off: Banks to take 92% haircut in Adhunik Metaliks case

Lenders to Adhunik Metaliks (AML) will take a haircut of around 92% and settle for Rs 410 crore against their outstanding dues of Rs 5,370 crore after the Kolkata bench of the National Company Law Tribunal (NCLT) on Tuesday a

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