The steel sector in India often twists the natural order of demand and supply. Defying economic logic, five hugely debt-struck steel companies — owing Rs 1.4 lakh crore to banks and facing insolvency.. DNA
In the just-published India rich-list that captures the changing dynamics of the Indian economy, Reliance Industries chief Mukesh Ambani has retained his rank as the country's richest for the tenth.. DNA
Reliance Industries chief Mukesh Ambani today emerged as Indias wealthiest for the 10th straight year as his net worth swelled to USD 38 billion (nearly Rs 2.5 lakh crore) while the wealth of 100.. Deccan Herald
In the case of State Bank of India v. Essar Steel India Ltd., C.P (I.B) No. 40/7/NCLT/AHM/2017, the National Company Law Tribunal, Ahmedabad Bench has interpreted Section 7(5)(a) of the Insolvency and.. Mondaq
India is expected to impose anti- dumping duty on imports of certain colour coated steel products from China and European Union to protect the interest of domestic players from below-cost in-bound.. DNA
*Business Wire India*
*Mr. Ravindra Nath, Chairman cum MD, NSIC and Mr. R. Narayan, Founder and CEO, Power2SME*India’s first ‘Buying Club’ for SMEs, Power2SME today signed a Memorandum of.. Business Wire India
Finance Minister Arun Jaitley today assured debt-laden companies that the objective of the new insolvency law is not to banish them but to save them while ensuring that "debts are serviced".
"The.. Deccan Herald
The 12 accounts were- Essar Steel, Bhushan Steel, Electrosteel Steels, Amtek Auto, Bhusan Power and Steel, Alok Industries, Monnet Ispat and Lanco Infra, Era Infra, Jaypee Infratech, ABG Shipyard and.. IndiaTimes Also reported by •DNA
A bill to authorise the RBI to direct banking companies to resolve the problem of stressed assets was today introduced in the Lok Sabha by Finance Minister Arun Jaitley.
The Banking Regulation.. Deccan Herald
The National Company Law Tribunal (NCLT) today allowed Essar Steel to file objections to petitions moved by the State Bank of India (SBI) and the Standard Chartered Bank (SCB) to initiate insolvency.. DNA