Surya Sarathi Ray
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
Union Budget 2019: Labour Acts rejig a step on reforms path
Budget 2019: The streamlining of the multiple laws will ‘ensure that process of registration and filing of returns will get standardised and streamlined’, finance minister Nirmala Sitharaman said on Friday.
Essar Steel: Lenders may take a Rs 20,000 crore hit
NCLAT hikes claims ratio for operational creditors; as a result, financial creditors to take a bigger haircut
High taxes and levies impede investments in mining sector
As per government think-tank Niti Aayog, India’s mineral imports, estimated at Rs 3,73,662 crore, far outstripped the value of domestic mineral production (excluding coal, atomic and fuel minerals) at Rs 47,432 crore in 201
Jaypee Infratech insolvency: NCLAT steps in to tweak NBCC’s bid
A three-member bench headed by chairman Justice SJ Mukhopadhyaya directed representatives of banks, allottees and other stakeholders to appear before it on July 17 to consider how NBCC’s bid can be altered so that it is agr
Why NHAI needs to monetise its assets
Indeed, NHAI’s finances need to be seriously reviewed to ensure that the authority is able to generate cash flows and not be overly dependent on support.
NALCO lines up Rs 17,000 crore expansion to enhance capacity
State-run aluminium maker National Aluminium Company (Nalco) has lined up Rs 17,000 crore investments to enhance capacity, foray into new areas, and increase coal production.
Mining in Goa: State hopes Centre will amend laws for resumption of activity
Goa’s export-oriented mining sector is unique. Mining concessions in the state were granted much before of its liberation from the Portuguese rule in 1961.
Close to 2 million jobs formalised due to GST, demoetisation, says report
The Narendra Modi-led NDA government had in November 2016 announced demonetisation of specified high value banknotes; GST, a comprehensive indirect tax that subsumed various central and state levies, came into effect in July
Profiteering? ESI contributions accumulate to Rs 84,000 crore wasteful reserve
After a long 22 years, the government on Thursday cut the mandatory contribution to the ESI medical care scheme for relatively low-wage earners to 4% from 6.5%, but this is a case of ‘too little, too late’.
NCLT shouldn’t be influenced by other order except that of appellate tribunal, SC: NCLAT
However, at the same time, the NCLAT refrained from expressing any opinion as to whether any high court can have supervisory jurisdiction in insolvency cases that too of a high court beyond its territorial jurisdiction.
Steel cost of engineering exporters to drop
Engineering goods exporters complain that local steel producers are charging them 15-20% more than the price at which the latter are shipping out to other countries.
NHAI sets all-time high building target of 4,500 km for 2019-20
The source said though some banks are not still forthcoming to fund projects under HAM, 105 among 124 projects awarded thus far under the route have achieved financial closure.
Jaypee Infra insolvency: Lenders reject NBCC bid — key details
Exact percentage of votes for and against the plan not disclosed, but it is likely it didn’t get nod of two-thirds of lenders and buyers.
How NHAI hopes to garner Rs 9,000 crore under TOT model in FY20
To soon invite requests for proposal for two TOT tranches, measuring a total of 970 km
Auction notices for 48 non-coal mines by July, steelmakers to benefit
The move will benefit steelmakers such as JSW Steel and Rashtriya Ispat Nigam (RINL) which have been fearing disruptions in supply of the key raw material.
Curbing imports, fuelling expansion projects priorities for new steel minister
India became a net importer of steel, after a gap of three years, in 2018-19. The industry has already asked the government to reimpose a safeguard duty of 25% in line with such protectionist steps being taken by the US, the
Jaypee Infratech insolvency: Homebuyers’ role key as CoC votes on NBCC bid
The National Company Law Appellate Tribunal (NCLAT) had on May 17 asked the CoC to renegotiate with NBCC till May 30 and start fresh voting from May 31.
Tata Steel’s Rs 805 crore bid for Bhushan Energy gets nod
The National Company Law Tribunal (NCLT) on Thursday approved Tata Steel’s Rs 805-crore bid for Bhushan Energy, a unit that belonged to the Delhi-based Singal family.
Iron ore price to remain steady on higher steel production: Baijender Kumar, CMD, NMDC | Interview
CMD Baijender Kumar (IAS) discusses with Surya Sarathi Ray on what holds for the company for the current fiscal.
Jaypee Infratech lenders want NBCC to sweeten bid
Lenders to Jaypee Infratech (JIL) have laid out five conditions, including reinstating an additional 500-acre land under the debt-asset swap plan, to state-run NBCC to “consider favourably” its revised bid.
Development in India is yet to reach expected level: Former steel secretary Aruna Sharma
Former steel secretary Aruna Sharma in conversation with FE.
Bid for BPSL: Lenders move NCLAT for quick approval to JSW Steel’s plan
They say delay in NCLT verdict is causing them notional loss of `11.18 crore per day.
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