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

Mar 19 2018 | 2 hrs ago

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.

UltraTech to buy Binani Cement, seeks end to insolvency proceedings

Mar 19 2018 | 9 hrs ago

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.

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.

Wilful defaulters rise 1.7% till Dec, owe Rs 1.10 lakh cr to PSBs

Mar 09 2018

The number of wilful defaulters, who did not repay loans to PSBs despite the capacity to do so, rose by 1.66 pc to 9,063 in the April-Dec period of the current fiscal.

IndusInd Bank invokes 6 cr pledged shares of Jaypee Infratech

Mar 05 2018

IndusInd Bank has invoked 6 crore pledged shares, which make up about 4.32 percent stake, of the crisis-hit Jaypee Infratech.

Aircel files for bankruptcy; cites competition, unsustainable debt

Feb 28 2018

Telecom operator Aircel said it has filed for bankruptcy as the company has been facing "troubled times" in "highly financially stressed" industry.

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Provident Housing Ltd enters Goa with Adora de Goa an Integrated Resort distric

Project is expected to deliver a Sales Volume of close to Rs 1000 cr over the next 5 years

Group is entering into a management contract with The Park Hotels



Rare Enterprises Buys 3 Cr Shares At Rs 18.37/Sh


Attracts 26 bidders for 51% stake quoting bids between Rs 8000-10,000 Cr

Firms such as ITC, Patanjali Ayurved, Emami Group and Aion Cap are among the bidders

Bidders are bullish on the sector after Govt raise import duties on certain vegetable oils

The govt announced in the budget a hike in import duty to 30-35%

Businessline Reports


TPG Cap and Manipal Health are eyeing controlling stake in the co

Likely to lead to 2 simultaneous open offers leasing to premium offers to attract investors

Will have to buy at least 26% stake through Voluntary open offer as part of takeover code

A 26% shareholding will automatically trigger the mandatory open offer for additional 20%

Business Standard Reports


TRAI issues show-cause notice to co

Seeks details of non-transparent, discriminatory tariffs to consumers

Have to respond till Mar 25

Action to depend on if tariff reported to regulator or not

Notice first one after TRAI issued tariff order on predatory pricing

Economic Times Reports

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