Gail India has filed an application before the National Company Law Tribunal, opposing a resolution plan that Reliance Industries has proposed in partnership with JM Financial Asset Reconstruction Company for Alok...
Reid & Taylor case: NCLT accepts Rs 2 crore as earnest money deposit from CFM Asset Reconstruction Company
The National Company Law Tribunal (NCLT) Thursday accepted a Rs 2 crore demand draft as earnest money deposit (EMD) from CFM Asset Reconstruction Company (ARC) for the ailing Reid & Taylor (RTIL), and has given them...
Reid & Taylor insolvency: CFM hired as new investor; SPGP shunted
After Hong Kong-based SPGP Holdings failed to come up with an amount it could have deposited as earnest deposit money (EDM), Gujarat’s CFM Asset Reconstruction has been hired as the new investor to support the employee...
RP of Reid & Taylor moves NCLT, files criminal case against promoters
The resolution professional of Reid & Taylor has approached the Mumbai Bench of the National Company Law Tribunal (NCLT) with a criminal action lawsuit against the promoters for a fraud of ~1,810 crore. Venkatesan...
Reid and Taylor: NCLT stalls liquidation, accepts union bid for company
The Mumbai bench of the National Company Law Tribunal (NCLT) has accepted a bid by an unregistered union of the premium apparel brand Reid & Taylor India to take over the firm, stalling liquidation and has posted...
NCLT admits insolvency petition against apparel brand Provogue
The Mumbai bench of the National Company Law Tribunal admitted Provogue (India) Ltd for insolvency resolution on Thursday, making it the fourth company from the textile and garment sector to attempt loan resolution in...
Lux promoters value two group cos at Rs 861 crore for merger
The promoters of hosiery major Lux group is in the process of merging two group companies with the listed entity Lux Industries Ltd in a non-cash deal at a combined valuation of Rs 861 crore. “The combined...
Grasim to invest Rs13,000 crore in textile, cement business
Aditya Birla Group firm Grasim Industries will invest over Rs13,000 crore in its textile and cement businesses over the next 24-36 months, as the company looks to increase capacity and modernise production, a senior...
Alok lenders reject Reliance Industries-JM Financial ARC’s revised offer
Lenders to Alok IndustriesNSE -9.76 % have rejected a revised offer by Reliance Industries-JM Financial ARC to acquire the bankrupt company, implying that the borrower may head into liquidation, banks must make 100%...
RIL, JM Financial bid jointly to buy textile manufacturer Alok Industries
Reliance Industries Ltd (RIL) said today that it has bid jointly with JM Financial Asset Reconstruction Company to acquire the debt-ridden textile manufacturer Alok Industries. In a clarification to stock...
Raymond to raise Rs100 crore via NCDs
Textile major Raymond on Tuesday said it will raise Rs100 crore through issuance of non-convertible debentures (NCDs) on private placement basis. A meeting of the committee of board of directors will be held on 20 March...
Arvind gears up for demerger of branded apparel, engineering ventures
Even as it is set to touch the Rs 100 billion revenue mark for the first time in fiscal 2017-18, Arvind Limited is gearing up for demerger of its branded apparel & retail as well as engineering ventures into...
