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 said it has been declared the successful "resolution applicant" by the Committee of Creditors (CoC) of Bhushan Steel Ltd (BSL).
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 along with its wholly owned subsidiary Telesonic Network has approached the NCLT over their scheme of demerger.
Sebi plans to bring in additional disclosure requirements for listed corporates undergoing insolvency proceedings.
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 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.
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.
NCLT asked the Committee of Creditors of Bhushan Steel to consider the objections raised by its employees over the bids submitted by Tata Steel.
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.
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
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