IL&FS Group: 11 amber firms in advanced stages of resolution, says government
The East Hyderabad Expressway has also received no bids. In one case, IL&FS Education & Technology Services (IETS) lenders are not likely to take any haircut.
JSW Steel says can’t implement BPSL resolution plan
In its order, NCLT had directed JSW Steel to distribute profits earned during the Corporate Insolvency Resolution Process (CIRP) period among financial and operational creditors on pro-rata basis.
JSW Steel moves NCLAT over Bhushan Power & Steel assets
JSW Steel did not seek indemnity from statutory dues from authorities under the Income Tax Act, ministry of corporate affairs, department of registration and stamps, Reserve Bank of India and others in its plea before the NCL
Smooth ride: Government to make BOT highway projects more attractive to investors
As private sector investment is critical for building 34,800 km of highway under the Bharatmala project, the government has started working on making the build-operate-transfer (Toll) model more attractive to potential invest
NHAI must make monetisation a structured programme: Vijay Chibber, former secretary, ministry of highways
Borrowing is not an independent activity of the NHAI. It is a part of the government’s borrowing activity, says former secretary at the ministry of highways Vijay Chibber
Roadblock: Why NHAI construction could slow down sharply in 2 years
Analysts have expressed concerns on the authority’s ability to raise resources at a time when concessionaires want to fund as little of the construction cost as possible.
SAIL extends deadline to submit EoI for three loss-making units
ASP has a total of 758 employees. Of ASP’s total area of 1,154 acre under possession, 600 acre is proposed to be divested as part of the transaction.
Road developers now keen to bid for viable BOT projects
Another road developer said that while NHAI should continue to offer projects on hybrid annuity model (HAM) and EPC, BOT should make a come back in stretches where there is potential for high traffic growth in busy commercial
SAIL to raise Rs 5,000 crore through NCDs, bonds
SAIL reduced its debt to Rs 45,170 crore as on March 2019 from Rs 45,409 crore a year earlier.
Soma Mondal, Sridhar Patra lead race for Nalco CMD post
SAIL's commercial director Soma Mondal and Nalco’s own finance director Sridhar Patra are the front-runners for the post of the chairman of the state-run aluminium major.
Steel imports: DGTR against safeguard duty reimposition
Safeguard duty is generally imposed in the event of a sudden surge in imports which causes or threatens to cause serious injury to the domestic industry.
NALCO to set up tech unit, may get into equipment manufacturing
Nalco proposes to bring the new division that aims at indigenisation of technology and equipment specific to the domestic aluminium sector under the supervision of its projects and technical director.
IL&FS resolution: NCLAT pulls up Centre over delay in completion of process
On July 12, the NCLAT had directed the debt-ridden firm to file an update on the progress made in the resolution for ‘amber’ and ‘red’ companies.
Dozen firms show interest in nine highway projects under toll-operate-transfer
In the first tranche, nine highway projects were offered and Australia-based Macquarie bagged them quoting `9,681.5 crore for the total length of 680.5 km against the floor price of `6,258 crore.
Steel Ministry says Ircon flouted government policy
Ircon International, which is executing various rail projects entrusted by the ministry of railways, has been rapped by the steel ministry for ‘flouting’ a government policy that seeks to protect domestic steel fi
SAIL extends deadline for submission of EOIs for sale of 3 units
ASP, SSP and VSP are located in West Bengal, Tamil Nadu and Karnataka, respectively. These three units have a total of 2,100 permanent employees.
Reserved for PSUs: Govt abandons plan to open offshore mining to private players
No progress on Bill that could pave way for auction of mines
Funding push: NHAI to ramp up toll-operator-transfer route, launch InvIT, security toll receipts
While the initial plan was to monetise public-funded highway projects in two tranches totalling 1,073 km in the current fiscal, the NHAI may end up exercising the option thrice in 2019-20 on the government's prodding.
NHAI not to tap EPFO funds this year too
For the second year in a row, the National Highways Authority of India (NHAI) is unlikely to borrow from the Employees’ Provident Fund Organisation (EPFO) in an effort to rein in the cost of funds.
Ambitious target: Nalco eyes aggregate increase of Rs 1,100 crore in net profit over 2-3 years
State-run aluminium maker Nalco is eyeing an aggregate increase of Rs 1,100 crore in its net profit over the next 2-3 years, which could be made possible from commissioning of a coal mine.
Trade remedies often help biggies, hit economy: Commerce secretary Anup Wadhawan to cabinet secretary
Manufacturers ‘game the system’ at the cost of consumers, commerce secy Wadhawan writes to Cabinet secy Sinha
Will repay Jaypee Infra’s dues, hand over flats in 3 years: Jaiprakash Associates
The NCLAT Bench has asked JAL to file written submissions over exclusion of time frame. It has scheduled the matter for “orders” on July 29.
IL&FS lenders could soon recover Rs 16,372 crore from amber firms
In its February 11 order, the NCLAT had permitted ‘green’ companies to service their debt obligations as per the scheduled repayment within the resolution framework.
Govt has no plan to extend tenure of non-captive mines, to auction 48 soon
The expiry date for these merchant mines was pre-determined as per the provisions of the Mines and Minerals (Development and Regulation) Amendment Act, 2015.
NCLAT rejects HDFC plea for insolvency proceedings against RHC Holding
HDFC therefore moved the bankruptcy court seeking to initiate CIRP under section 7 of the IBC against RHC Holding.
SAIL reinvites EOIs to sell three loss-making units
The three units – Alloy Steel Plant (ASP), Salem Steel Plant (SSP) and Visvesaraya Iron and Steel Plant (VISP) — have incurred combined loss of `2,300 crore in the last five years, causing a huge strain on SAIL’s books.
Highways construction off to brisk start in FY20
First two months of fiscal have seen roads being built at a pace of 28.5 km/day even as project awards are yet to shed last year’s sluggishness
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