Vedanta unlikely to participate in rebidding of Essar Steel

Mar 23 2018

Metals and mining giant Vedanta Ltd is unlikely to participate in the second round of bidding for debt-laden Essar Steel, according to a source.

Tata Steel declared successful 'resolution applicant' to buy BSL

Mar 23 2018

Tata Steel said it has been declared the successful "resolution applicant" by the Committee of Creditors (CoC) of Bhushan Steel Ltd (BSL).

ArcelorMittal plans to rebid for Essar Steel

Mar 23 2018

ArcelorMittal, whose bid for Essar Steel was rejected by lenders, today said it plans to re-bid for the debt-laden firm undergoing insolvency proceedings.

Airtel approaches NCLT over demerger of Telesonic Network

Mar 21 2018

Airtel along with its wholly owned subsidiary Telesonic Network has approached the NCLT over their scheme of demerger.

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 likely to get support from Binani creditors

Mar 20 2018

The UltraTech offer allows the loan to a regular one and there will be no haircut even in the interest loss in the interim period," the official explained.

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.

NCLT benches must be in proportion to firms in region: SBI

Mar 19 2018

The NCLT adjudicating on insolvency cases requires superior infrastructure that allows NCLT benches to be set up in proportion to firms in the region, SBI said.

Consider objections to Tata Steel bids: NCLT to Bhushan Steel

Mar 19 2018

NCLT asked the Committee of Creditors of Bhushan Steel to consider the objections raised by its employees over the bids submitted by Tata Steel.

Allahabad Bank sanctions Rs 1,003 crore MSME loans

Mar 14 2018

State-run Allahabad Bank said it has sanctioned Rs 1,003 crore in loans to 8,289 beneficiaries for micro, small and medium enterprises through a special drive.

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Stocks In News



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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