Led by State Bank of IndiaBSE 0.10 %, lenders will invoke pledged shares to take control of Essar Power Gujarat, an arm of Ruias-promoted Essar Group. The decision to acquire 51% equity interest has been taken weeks...
GTL Infra’s lenders bar Reliance Capital arm from bidding for its tower assets
Lenders to GTL InfrastructureBSE 2.20 % declined to share information about the company in an effort to block a Reliance CapitalBSE 0.00 % arm from bidding for the telecom tower company. GTL Infra, where lenders...
NCLT to hear Ericsson’s RCom insolvency petition on November 9
The National Company Law Tribunal (NCLT) will hear on November 9 the case on whether Ericsson’s insolvency petition against Reliance Communications (Rcom) should be accepted. On September 11, Ericsson had filed...
RCom debt restructuring to be further delayed after Aircel merger collapse: Moody’s
Rating agency Moody’s Investor Services (Moody’s) said Reliance Communications’ (Rcom) scrapping its merger with Aircel has no impact on the telco’s corporate family and senior secured bond...
RCom open to selling 100% of tower unit to Brookfield
Reliance Communications is in discussions with the Brookfield group to sell up to 100 percent stake in its tower subsidiary instead of the 51 percent it had earlier agreed upon. The international tower company is also...
Vested interests led to broken deal: Punit Garg, Executive Director, RCOM
Reliance Communications has blamed delays due to “vested interests” of companies such as Bharti Infratel and GTL InfrastructureBSE -0.96 %’s Chennai Network Infrastructure among key reasons for the collapse of its...
RCom’s lifeline deal with Aircel called off
Reliance Communications (RCom) has called off its merger with Aircel, owned by Maxis of Malaysia, following legal and regulatory hurdles, putting a question mark on the company’s promise to its lenders to reduce its...
Aircel likely to go for debt restructuring
Telecom operator Aircel may start an independent debt restructuring programme now that its proposed merger with Reliance Communications has fallen through, people aware of the firm’s alternative plans said. In an...
Shapoorji Pallonji, SSG Capital plan joint bid for Jyoti Structures acquisition
Diversified conglomerate Shapoorji Pallonji group and Asia-focused distressed assets investor SSG Capital will jointly bid for power transmission tower maker Jyoti Structures Ltd, which is currently facing bankruptcy...
‘Running against time’ to close Aircel deal: Reliance Communications to NCLT
Reliance Communications(RCom) on Thursday told the National Company Law Tribunal (NCLT) it is “running against time” to close the merger of its wireless business with Aircel, which will help it repay a majority of its...
SBI not in favour of JSW buying stake in Monnet Ispat
India’s largest lender State Bank of India is not in favour of a JSW Steel proposal in its current form to buy a controlling stake in debt-laden steelmaker Monnet IspatBSE -2.33 %, the bank informed the Mumbai bench of...
Lenders of Electrosteel apply for insolvency case against company
Lenders to beleaguered Electrosteel Steels have urged the National Company Law Tribunal (NCLT) to admit insolvency proceedings against the West Bengal-headquartered company. Electrosteel Steels, which owes more than Rs...