Sebi plans amending norms for cos undergoing insolvency proceedings

Mar 21 2018

Sebi plans to bring in additional disclosure requirements for listed corporates undergoing insolvency proceedings.

Ultratech makes Rs 7266-cr out-of-court offer to Binani Cement

Mar 19 2018

Ultratech Cement made an offer to take over loan defaulter Binani Cements for Rs 7,266 crore, posing a challenge to the nascent bankruptcy resolution process.

Toys 'R' Us stores may be closing, but name will live on

Mar 19 2018

Toys ‘R’ Us will soon disappear from US, but the name and its iconic Geoffrey the Giraffe mascot are likely to survive for another generation of Toys ‘R’ Us kids.

UltraTech to buy Binani Cement, seeks end to insolvency proceedings

Mar 19 2018

UltraTech said it has entered into an agreement with Binani Industries to buy 98 pc stake in its debt ridden subsidiary BCL which is going through insolvency proceedings.

'Exhausted' Toys 'R' Us suppliers weigh options as huge retailer shuts

Mar 17 2018

When Toys ‘R’ Us secured a $3.1 bn bankruptcy loan in Sep, toy makers were reassured they would be paid for goods delivered to the company.

41 out of 159 foreign branches of state-owned banks in red

Mar 16 2018

Nearly 25 percent of the overseas branches of the public sector banks (PSBs) suffered losses in 2016-17, the government informed Parliament today.

Govt asks banks to 'name and shame' wilful defaulters

Mar 13 2018

Tightening the noose around wilful defaulters, the govt has asked banks to 'name and shame' such borrowers by publishing their photos and other details in newspapers.

Over 9,000 cases under consideration of NCLT: Govt

Mar 13 2018

More than 9,000 cases are under consideration of the National Company Law Tribunal (NCLT), including over 2,500 cases of insolvency, according to the government.

IBC: 'No reduction in resolution plan submissions post Ordinance'

Mar 13 2018

The IBC (Amendment) Ordinance was promulgated on Nov 23, 2017, following which wilful defaulters were barred from submitting resolution plan.

'Resolution of Bhushan Steel bankruptcy is credit positive for banks'

Mar 09 2018

Debt resolution of Bhushan Steel, largest among the steel companies undergoing the process, will be a credit positive for its lenders, Moody's Investor Services said.

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Acquires Cynosure Inc and Cynosure Interface Solutions for $31mn and Rs13cr respectively

To add platform capabilities in the insurance segment which contributes 15% of total business

The Acquisition is expected to close within the next 3 months


Sells Essar Steel loan to Deutsche Bank

Has sold its $385 mn Foreign currency loan extended to Essar Steel

Bank has taken a 38% haircut

Rs 1600 cr is expected earnings to the bank from the deal

Economic Times Reports


To Sell 50% stake in prime Mumbai office assets to Blackstone for $1.3bn

The co is also in discussions to sell its residential and commercial projects in Chennai

To convene shareholder’s meet on 23rd March in regard to the proposed divestment

Mint Reports


Gets Order Worth Rs 230 Cr From NTPC

To perform the pressure part metallurgy upgradation for 3 660MW super critical steam generators

Will help NTPC commission the 3x 660MW plant started 12years


Declared L1 bidder for EPC Project in UP worth Rs 677cr from NHAI

The completion period for the project is 30 months

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