The bankruptcy court in Kolkata has approved the acquisition of Khaitan family-promoted listed engineering firm McNally Bharat Engineering Co by BTL EPC. McNally Bharat had admitted liabilities of ₹5,015 crore. The...
Nalwa Steel, BTL EPC bids tied for McNally
In a rare occurrence, the voting to select the winner between Nalwa Steel and BTL EPC plan for bankrupt McNally Bharat Engineering resulted in a tie, as both resolution plans received an equal number of votes from...
Naveen Jindal’s Nalwa top bidder for McNally Bharat
Naveen Jindal-promoted Nalwa Steel and Power emerged as the highest bidder for McNally Bharat Engineering, outbidding BTL EPC (formerly Bengal Tools EPC) at an auction that ended, said two people aware of the...
NCLT admits petition for CIRP against EPC firm McNally Bharat Engineering
The Kolkata Bench of the National Company Law Tribunal (NCLT) on Friday admitted a petition to start an insolvency process against McNally Bharat Engineering Company Limited, the troubled engineering, procurement and...
McNally Bharat close to reaching rescue deal
McNally Bharat Engineering Ltd (MBEL), the stressed engineering company of the Williamson Magor Group (WMG), is close to roping in an Iceland-based strategic investor to tide over the ongoing financial crisis in the...
McNally creditor withdraws insolvency petition after out-of-NCLT settlement
Financially stressed Williamson Magor group, promoted by the Khaitan family, got a major relief on Friday as the Kolkata bench of the National Company Law Tribunal (NCLT) allowed a financial creditor to withdraw its...
In resolution plan, McNally Bharat Engineering looks to raise fresh capital
Financially stressed McNally Bharat Engineering, a BM Khaitan Group company, has proposed a resolution plan to its lenders outside the purview of the National Company Law Tribunal (NCLT). According to the plan, McNally...
McNally Bharat Engineering reclassifies EMC as its promoter shareholder
McNally Bharat Engineering (MBEL), an associate company of the Williamson Magor Group (WMG) has reclassified its former promoter EMC Ltd as a public shareholder in the firm even as MBEL faces insolvency proceedings...
McNally Bharat may seek board approval to raise Rs500 crore for expansion
After five years, Williamson Magor Group-controlled McNally Bharat Engineering Co. Ltd is again looking to secure new orders, even as the company races against time to conclude around 70 pending projects within the...
McNally Bharat acquires German co
McNally Bharat Engineering Company Ltd has acquired the worldwide coal and minerals processing business and equipment manufacturing facility of KHD Humboldt Wedag, a German engineering company, for an undisclosed amount...
McNally Bharat to acquire engineering workshop in Germany
McNally Bharat Engineering Company (MBE), a joint venture between the Williamson Magor group and GP Birla group, will acquire an engineering workshop in Cologne, Germany and the CMT (coal and mineral technology)...
UPS to buy Italy’s Bomi Group to grow healthcare logistics business
United Parcel Service Inc said on Monday it would buy Italy-based healthcare logistics firm Bomi Group to bolster its capability in delivering medicines that require cold storage. The U.S. delivery firm is focusing on...