Laxaro

View the latest news and breaking news today

nclat stays voting by bhushan power steel lenders on finalising bids - Search

nclat stays voting by bhushan power steel lenders on finalising bids Searched from official sources arount the web with simple content and resource link From any languages in different countries.



nclat stays voting by bhushan power & steel lenders on finalising bids




the nclat today stayed the meeting of committee of creditors (coc) of bhushan power and steel ltd to vote on finalisation of bids of the debt-ridden firm. the national company law appellate tribunal (nclat) also pulled up the resolution professional (rp) of the company, mahendra kumar khandelwal, fo...



nclat rejects liberty house plea to stay bhushan power's resolution process




the national company law appellate tribunal (nclat) today turned down the plea of uk-based liberty house to stay the resolution process of bhushan power and steel. a two-member bench of the appellate tribunal, headed by chairman justice s j mukhopadhaya, directed the committee of creditors (coc) to ...



insolvency: bhushan power lenders asked to go ahead with selection of bids




the national company law appellate tribunal (nclat) today asked the committee of creditors (coc) of debt-ridden bhushan power & steel to proceed with the bids submitted by tata steel and uk-based liberty house. the appellate tribunal also directed the coc to keep its decision over the bids in a seal...



creditors reject liberty house bid for bhushan power and steel




the committee of creditors has rejected the bid of uk-based liberty house to acquire bhushan power and steel ltd, leaving tata steel and jsw steel in the race for taking over the assets of the bankrupt firm, a source said. "committee of creditors (coc) in a meeting today has rejected the bids of lib...



nclat permits lenders to meet, finalise bid for bhushan power & steel




the national company law appellate tribunal (nclat) on friday gave a go-ahead to the lenders' meeting of debt-ridden bhushan power & steel (bpsl), directing it to finalise a bid for the company. vacating its earlier stay, the appellate tribunal has directed the committee of creditors (coc) of the co...



essar steel: numetal moves nclat ahead of bankers' meet on friday




ahead of the lenders' meeting on friday, which may ask for fresh bids for the bankrupt essar steel's assets, numetal on thursday approached the national company law appellate tribunal (nclat). numetal's application at nclat is aimed at pre-empting a possible move by the lenders to call for fresh bid...



lenders choose tata steel as preferred bidder for bhushan power & steel




the committee of creditors (coc) for bhushan power & steel has decided on tata steel as the preferred bidder. the battle for bhushan power & steel was closely fought between uk-based liberty house, which submitted a late bid, and tata steel. people in the banking sector said that both bids were in c...



tata steel expects bhushan steel sell-off to be closed this week




awaiting response from the bankers for its bids to acquire bhushan steel and bhushan power & steel, tata steel expects the acquisition would provide synergy to its operations in eastern india, where the company has a manufacturing unit, besides increasing its secondary product portfolio.tata steel h...



insolvency: liberty house offers over rs 260 bn for bhushan power




uk-based liberty house has offered over rs 260 billion for acquiring the stressed assets of bhushan power & steel, leading tata steel and jsw in the race. the nclt has asked bhushan power lenders, led by pnb, to consider the bid submitted by liberty house for the debt-ridden company. it owes about r...



tata steel raises concerns over power theft in bhushan power's plant




tata steel has raised concerns over power theft in bhushan power and steel's plant at jharsuguda in odisha. sources say that tata steel had mentioned this in one of the committee of creditors meetings. some service providers to bhushan power and steel have also found theft in the plant during the mo...



jsw and tata steel bid for debt-laden bhushan power on the final day




jsw steel and tata steel bid for debt-laden bhushan power & steel on the final day for submission of bids. according to sources close to the development, jsw steel is ahead in the race with an offer of rs 130 billion and tata steel rs 115 billion. the bids will be placed before a legal team, after w...



tata steel top bidder for bhushan power, beats jsw with rs 170-bn offer




tata steel seems to be emerging the highest bidder for bhushan power and steel. according to sources close to the development, tata steel has offered to pay rs 170 billion upfront to financial creditors against jsw’s rs 110 billion. the finals bids were placed on february 9 and sent to the legal t...



three-way race for essar steel: arcelormittal, numetal-jsw, vedanta in fray




essar steel, put up for bidding for the second time, saw companies owned by metal sector billionaires taking part on monday. this time, lenders expect the valuation to cross the $6 billion mark and none or minimal haircut, with anil agarwal’s vedanta, l n mittal’s arcelormittal, and vtb bank-own...



jsw offer rs 300 bn for bhushan steel, rs 50 bn more than tata's bid




jsw steel, one of india’s leading integrated steel manufacturers with a capacity of 18 million tonnes per annum (mtpa), has offered rs 300 billion to take over debt-laden bhushan steel, rs 50 billion more than rival bidder tata steel’s offer, according to a source close to the development. the t...



bhushan steel's 9% stake encumbered with edelweiss arc; stocks tumble




just a few days before the financial bids of bhushan steel are submitted, edelweiss asset reconstruction company said it has 9 per cent stake in the company encumbered with it against loans. the announcement was made after market hours, as the share price of bhushan steel fell sharply by 14.36 per c...



ibc resolution of steel firms pushed to fy19




indian lenders are likely to wrap up the resolution process of bhushan power & steel (bpsl), essar steel, monnet ispat & energy, and electrosteel steels only in the first quarter of the next financial year (fy19) and miss the initial deadline of december-end set under the insolvency and bankruptcy c...



insolvency process: jsw, tata steel lead in buying stressed assets




jsw steel and tata steel have emerged as the most aggressive bidders for stressed assets put on the block under the reserve bank of india (rbi)-mandated insolvency process. while cash-rich vedanta won the bid for electrosteel steels and preferred to stay away from the race for bhushan steel and bhus...



bhushan power and steel creditors to announce highest bidder on march 14




the creditors' panel will next week declare the highest preferred bidder for acquiring the assets of bhushan power and steel amid the resolution process for the debt-laden firm being marred by controversy, sources said. "the committee of creditors (coc) will meet on march 14 to evaluate the criteria...



resolution of top steel firms gets delayed




indian lenders are likely to wrap up the resolution process of bhushan power & steel (bpsl), essar steel, monnet ispat & energy, and electrosteel steels only in the first quarter of the next financial year (fy19) and miss the initial deadline set under the insolvency and bankruptcy code (ibc). the f...



nclat refuses to stay tata steel's acquisition of debt-laden bhushan steel




the national company law appellate tribunal (nclat) on monday declined to stay tata steel's acquisition of debt-laden bhushan steel under the corporate insolvency resolution process. an nclat bench headed by chairman justice s j mulhopadhaya also issued notices to tata steel, the resolution professi...



jsw may double its bid to rs 300 bn for debt-laden bhushan steel: sources




in a bid to give tough competition to competitors, jsw steel is expected to double its bid value for debt-laden bhushan steel, a source privy to the development said. the last date to submit the bids now is february 3, 2018. on january 24, the insolvency resolution professional (irp) of bhushan stee...



steel, cement asset bidders can take cci nod after win, say experts




tata steel, jsw steel, and ultratech bids for stressed assets in the cement and steel industries, under the insolvency and bankruptcy code (ibc) regulations, will not face hurdles from competition laws, claim experts. bidders for stressed assets in cement and steel industries will have to take appro...



amid high drama, jsw, tata emerge as serious bidders for bhushan steel




sajjan jindal-owned jsw steel and tata steel have emerged as the two serious bidders for bhushan steel as binding bids closed on saturday. the employees of bhushan steel have also submitted an offer for the company. arcelormittal said it had not put in a bid for the company. bhushan steel was sent f...



essar steel lenders urge nclat to expedite insolvency resolution process




lenders to essar steel on wednesday urged the nclat to complete its insolvency resolution process in "quick" time, saying the debt-ridden company is incurring a daily loss of rs 17 crore. at a hearing of the national company law appellate tribunal (nclat), sudipto sarkar, counsel appearing for the c...



nclt asks bhushan steel creditors to consider liberty house bid




the national company law tribunal (nclt) on monday asked the lenders of bhushan power & steel, led by pnb, to consider the bid submitted by uk-based liberty house for the debt-ridden company. allowing the plea of liberty house, the tribunal has directed the committee of creditors (coc) to complete i...