The lenders were not willing to take a haircut, which JSW Energy was insisting on for the acquisition, said a banker involved in the deal. Mumbai: Sajjan Jindal-led JSW Energy Ltd on Thursday said it has withdrawn its...
Jaypee salvages UltraTech cement deal, loses control of Jaiprakash Associates
Mumbai: In an important board meeting on Monday, the promoters of the debt-strapped Jaypee Group managed to salvage a deal that involved the sale of the conglomerate’s cement assets to UltraTech Cement Ltd, but lost...
Religare Finvest acquires 24.49% stake in ABG Shipyard
Mumbai: Religare Finvest Ltd, a subsidiary of Religare Enterprises Ltd, has acquired 1.32 million pledged shares of India’s largest private shipbuilder ABG Shipyard Ltd to take a 24.49% stake in the debt-laden company...
RBI’s new debt restructuring scheme may not be a game changer
The Reserve Bank of India’s (RBI) new measure to tackle the pile of mounting bad loans in the banking system is not expected to be a game changer, say many analysts and bankers. They say the new norms (Scheme for...
Customers will benefit with the subsidiaries’ merger with SBI
State Bank of Travancore (SBT),the only public sector bank head-quartered in Kerala, was established in 1945 as the Travancore Bank Ltd. It became a subsidiary of State Bank of India (SBI) under the SBI Subsidiary Banks...
Private equity funds, textile companies vie for debt-ridden Alok Industries.
Bulge-bracket private equity funds TPG Capital Management and KKR & Co LP are competing with domestic textile companies Vardhman Group, Trident and a brand new special situations joint venture between Ajay Piramal...
Strategic Debt Restructuring- A Short in The Arm for Banks
With rising non-performing loans (NPAs) or stressed loans of banks, the Reserve Bank of India (RBI) has come out with Strategic Debt Restructuring (SDR) scheme which will enable banks to recover their bad loans by...
Strategic Debt Restructuring
Strategic Debt Restructuring – A short in the arm for banks With rising non-performing loans (NPAs) or stressed loans of banks, the Reserve Bank of India (RBI) has come out with Strategic Debt Restructuring (SDR)...
First International may acquire stake in Electrosteel.
International Group has emerged as the most likely candidate for acquiring a controlling stake in financially troubled Electrosteel Steels, the first company that lenders have put on the block as part of the strategic...