Adhunik Metaliks, which is staring at liquidation, may get a breather as the Resolution Professional (RP) is set to urge before the NCLT on May 1 to scrap up to 25 days from the mandated 270-day resolution deadline. The...
Thriveni Earthmovers bid rejected, Lanco Infratech may be headed for liquidation
Lanco InfratechNSE -5.00 % could end up going into liquidation with bankers rejecting the highest offer made by Thriveni Earthmovers. The resolution plan got just 16% support from the committee of creditors, people...
NCLT adjourns Monnet Ispat case hearing till May
The Mumbai bench of NCLT on Wednesday adjourned until May 4 the hearing on the resolution plan for Monnet IspatNSE -4.97 % and Energy, with the judge seeking clarity from the resolution professional’s counsel on a few...
Any move on Facor liquidation only after NCLT ruling
Any move to liquidate Facor, one of India’s oldest producers of ferro alloys undergoing insolvency resolution, can be implemented only after the National Company Law Appellate Tribunal (NCLAT) rules on Facor’s appeal...
Facor may go into liquidation as creditors reject all resolution plans
Facor, one of India’s oldest producers of ferroalloys, is likely to be liquidated after the NCLT Kolkata bench was informed on Monday that its Committee of Creditors has rejected all bids. Facor has been under...
Nalco eyes bauxite assets in Guinea, to send team to evaluate opportunity
National Aluminium Company (Nalco) is looking at the possibility of gaining access to bauxite deposits in Guinea. The West African country is home to a third of the world’s reserves, with an estimated 40 billion tonnes...
Adhunik group company gets new life after NCLT order
The National Company Law Tribunal has dismissed an Odhisa order that had sought the stoppage of mining activity at Orissa Manganese & Minerals, giving a fresh lease of life to the Adhunik group company that faces Rs...
Hindustan Copper plans to raise Rs1,400 crore via QIP
State-run Hindustan Copper said its board on Wednesday approved a proposal to raise Rs1,400 crore by issuing equity shares through qualified institutional placement (QIP). “The Board of Directors of Hindustan Copper Ltd...
Goldman, Citi final bidders for Scotiabank’s metals business: sources
The field of prospective bidders for ScotiaMocatta, the metals trading arm of Canada’s Bank of Nova Scotia (BNS.TO), has narrowed to two, three banking and industry sources said on Wednesday. The two – Goldman...
Mishra Dhatu Nigam files IPO papers with Sebi
State-owned Mishra Dhatu Nigam (MIDHANI) has filed preliminary papers with markets regulator Sebi to float an initial public offering. The public issue will see sale of up to 46,835,000 equity shares, or 25% stake, by...
Hindalco’s Aleris acquisition bid may face competition from Vedanta
Mining mogul Anil Agarwal’s Vedanta Resources Plc. is considering a bid for Aleris Corp., a move that may pit it against Hindalco Industries Ltd’s $2.5 billion bid for the US-based aluminium products maker, two people...
Allow honest promoters to bid for assets: Anil Agarwal, Vedanta Group Chairman
Promoters whose debt-laden companies are being auctioned by banks should be allowed to make a bid for their own firm if they have not siphoned off money, said VedantaBSE -1.35 % Group chairman Anil Agarwal, who has...
