Volcan Investments Ltd, the family trust of Vedanta Resources Plc. founder Anil Agarwal, is considering a plan to acquire control of Anglo American Plc’s South African business by merging Vedanta Resources with the...
Anrak Insolvency: RBI moves Hyderabad High Court to lift stay
The Reserve Bank of India (RBI) has moved the Hyderabad High Court seeking to permit State Bank of India to go ahead with insolvency proceedings against Anrak Aluminium, an Indo-UAE joint venture. In March, the high...
Australia’s South32 bids $1.3 billion for rest of Canada’s Arizona Mining
Australia’s South32 Ltd has bid $1.3 billion to take full control of Arizona Mining, offering a hefty premium for the Toronto-listed firm which is developing zinc, lead, manganese and silver assets. The offer of C$6.20...
Ferro Alloys may end up in liquidation; NCLT to pass judgment on July 12
After months of deliberations on resolution plans and various cases in the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT), Ferro Alloys Corp of India may finally end up...
Australia’s Fortescue Metals takes stake in Atlas Iron, may not support buyout
Australia’s Fortescue Metals Group (FMG.AX) said on Thursday it has built up a 19.9 percent interest in small iron ore miner Atlas Iron Ltd (AGO.AX), giving it a large enough stake to block a takeover of Atlas by...
Government approves restructuring of Indian Bureau of Mines
The government today approved the restructuring of Indian Bureau of Mines to reform the mineral sector regulation. The restructuring would enable the adoption of IT and space technology by the bureau to improve its...
Resolution professional may try to stop liquidation of Adhunik Metaliks
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...
