31 May 2019: NHPC’s takeover plan of Lanco Teesta Hydro Power’s beleaguered hydro power unit in Sikkim Teesta-VI (500 MW) is facing hiccups, after approval from the Cabinet. The National Company Law Tribunal (NCLT), which approved the bid of NHPC,… Read More ›
Month: May 2019
ET: IRPs admit Rs 66,000 crore of claims against RCom, arms
31 May 2019: The bankruptcy court appointed interim resolution professionals (IRPs) of Reliance Communications (RCom) and two of its subsidiaries have admitted claims of Rs 66,000 crore, more than three fourths of those filed, against the companies, people in the… Read More ›
FE: Jaypee Infratech insolvency: Homebuyers’ role key as CoC votes on NBCC bid
31 May 2019: Lenders to insolvent Jaypee Infratech (JIL) on Thursday decided to put to vote state-run NBCC’s revised bid for the debt-laden realty firm. The exercise will go on for 10 days from Friday in which apart from 13… Read More ›
BS: NCLT rejects Essar Power Jharkhand ex-promoters’ bid to clear dues
30 May 2019: The principal bench of the National Company Law Tribunal (NCLT) on Thursday rejected Essar Power Jharkhand’s former promoters’ bid to take the company out of insolvency by offering to pay Rs 1,200 crore as a one-time settlement… Read More ›
BS: Doha Bank moves law tribunal, seeks stay on decisions of RCom lenders
30 May 2019: In a surprise intervention in the Reliance Communications (RCom) insolvency matter, Doha Bank, which is one of the financial creditors to RCom’s subsidiary Reliance Infratel, has moved the National Company Law Tribunal (NCLT) seeking a stay on… Read More ›
BS: NCLT approves Tata Steel’s bid for Bhushan Energy; rejects objections
30 May 2019: The principal bench of the National Company Law Tribunal (NCLT) on Thursday approved Tata Steel’s nearly Rs 800-crore bid to acquire Bhushan Energy. The NCLT, while approving this bid, also rejected Bhushan Energy’s former promoter Neeraj Singhal’s… Read More ›
BS: Coal India posts record 362.46% rise in Q4 profit; net revenue jumps 7.53%
30 May 2019: A drastic reduction in employee benefit expenses apart from other operational efficiencies backed by higher price realisations, helped Coal India post a record increase of 362.46 per cent in its net profit at Rs 6,024.23 crore for… Read More ›
TN: Patanaji seeks funds from state-run banks to buy Ruchi Soya
30 May 2019: Yoga guru Baba Ramdev-promoted Patanjali Ayurved has sought help from state-controlled banks to fund its Rs 4,350 crore acquisition of Ruchi Soya Industries. In April, Patanjali Ayurved acquired the debt-ridden edible oil company Ruchi Soya with a… Read More ›
BQ: Will RCom Go The Aircel Way? No, Say Bankers
30 May 2019: Earlier this month, lenders to insolvent telecom firm Aircel Ltd. agreed to take a 99 percent haircut on the Rs 19,800 crore in loans owed by the firm to banks. They took home a meagre Rs 150… Read More ›
FE: Adani Power bid for GMR Chhattisgarh approved by lenders
30 May 2019: All 17 lenders to GMR Chhattisgarh Energy have approved Adani Power’s bid for the 1,370 megawatt (MW) pulverised coal-fired plant in Raipur, a senior official at the Power Finance Corporation (PFC) told reporters on Wednesday. He said… Read More ›
