The National Company Law Appellate Tribunal (NCLAT) dismissed a plea by US-based Interups Inc that challenged a lower court’s approval of JSW Steel group’s Rs 1,550 crore-bid for Asian Colour Coated Ispat...
Resolution plan for ACCIL by JSW Steel
Asian Colour Coated Ispat Limited (ACCIL), a steel company, in the year 2018 was included in the Reserve Bank of India’s second list of defaulters on which banks were asked to take corrective action. State Bank of...
Deadline for ACCIL’s bid likely to see extension
JSW Steel Ltd has emerged as the sole bidder for Asian Colour Coated Ispat Ltd (ACCIL), forcing the lenders to consider more steps to garner a robust response for selling the assets of the bankrupt downstream steel...
CCIL invites bid from investors for non-operating unit in MP’s Nayagaon
Cement Corporation of India Ltd (CCIL) has initiated the process of sale of one of its non-operating units Nayagaon Cement Factory and has invited bids from potential buyers. Entities, joint ventures or consortia with a...
IFCI to sell stakes in NSE, CCIL, clean up NPAs in revival plan
Grappling with more than 26% non-performing assets (NPA) on its books as well as losses, state-owned lender IFCI Ltd is planning a multi-pronged strategy to move back to profitability. Selling its stakes in National...
SBI receives board approval to divest 4.40% stake in CCIL
Country’s largest lender State Bank of IndiaBSE -0.18 % today said it has received board approval to divest 4.40 percent stake in Clearing Corporation of India. “The Executive Committee of Central Board...
IDBI Bank sells 2.5% stake in CCIL
Public sector IDBI Bank on Thursday said it has sold 12.5 lakh equity shares in Clearing Corporation of India (CCIL) for an undisclosed amount. “IDBI Bank has sold 12,50,000 equity shares constituting 2.5% of the paid...
IDBI Bank steps-up non-core asset sales, seeks to offload 5% in CCIL
IDBI Bank Ltd has decided to sell its entire 5% stake in Clearing Corp. of India Ltd (CCIL), according to two people aware of the development, as it looks to strengthen its weak capital base through the sale of assets...
Asian Granito India to undergo Mega Restructuring
The Board of Directors of Asian Granito India Limited at its Board Meeting approved the Composite Scheme of Arrangement under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 amongst Asian...
November 2020
Issue Description Legal: Britannia Industries Issuances of Bonus Debentures the Third Time Acquisition: Growth strategy for the Digital Age: HCL acquires Australian IT company DWS Cover Article: BLOCKBUSTER DEAL:...
NCLT approves JSW Steel’s resolution plan for Asian Colour Coated Ispat Ltd
The Delhi Bench of National Company Law Tribunal on Monday approved the resolution plan submitted by JSW Steel to acquire bankrupt steel company Asian Colour Coated Ispat Ltd (ACCIL) for Rs 1,550 crore. “JSW Steel...
IFCI aims to mobilise up to Rs 2,000 cr from sale of non-core assets this fiscal
The country’s oldest public sector financial institution IFCI expects to mobilise Rs 1,500-2,000 crore from sale of non-core assets, including its stake in the National Stock Exchange (NSE), during the current...