JAIPRAKASH ASSOCIATE LIMITED
NBCC ready with backup plan if it doesn’t get Rs 750 cr for Jaypee
The National Buildings Construction Corporation (NBCC) in its resolution plan, had put in a condition saying that it has the right to withdraw from the process in case Rs 750 crore along with the interest is not made available to it.
COAI says SPV proposal nixed due to lack of consensus; govt not involved
"Unfortunately, the proposal did not pass the test of internal scrut...
Power Mech Projects bags orders worth Rs 351 crore
Power Mech Projects on Wednesday announced that it has bagged orders worth Rs 351 crore fr...
Jaiprakash Power Ventures to exit insolvency process
The outstanding debt of the Jaiprakash Associates group company has reduced to less than Rs 6,000 crore, from more than Rs 11,000 crore, following the restructuring. The terms involve an interest write back of about Rs 2,000 crore that will help the company report a net profit this fiscal, people in the know said.
Solar power association writes to Gadkari against NTPC's tender conditions
It said NTPC is not exempting MSMEs from payment of earnest money for bidding for its engineering, procurement and construction (EPC) tender for 923 MW solar projects, costing an estimated Rs 5,000 crore
BlackRock to exit Coal India by mid 2020
BlackRock, the world’s largest money manager with $7 trillion under management, will cut its equity in Coal India Ltd to zero by the middle of the year, becoming the latest in the list of 100 major banks and insurers exiting the thermal coal sector.
Oil threat looms for India as inflation set to breach 6% limit
In India, costs of everything from food to medicines and mobile-phone services have already been climbing.
Jaypee Infra's IRP approaches NCLT Allahabad for approval of NBCC's bid
Last month, NBCC won the bid to acquire Jaypee Infratech after financial creditors, including lenders and homebuyers, approved its resolution plan. NBCC's resolution plan was approved by the committee of creditors (CoC) with 97.36 per cent votes in favour.
Stock market update: 28 stocks hit 52-week lows on NSE
Benchmark index NSE Nifty was trading 48.15 points up at 12230.65, while the BSE Sensex was trading 149.40 points up at 41455.42.
Share market update: BSE Smallcap index gains; IOB surges 8%
The S&P BSE SmallCap index was trading 0.63 per cent up at 13520.2.
Govt to help firms making import substitute products: Nitin Gadkari
"There are many industries which are working on import substitute products and saving the nation's money. The Central government is forming a scheme to encourage these industries," the Union minister for micro, small and medium enterprises (MSMEs) said.
Public sector officers’ association against privatisation of BPCL
Representatives of officers’ associations from several state-run companies such as BPCL, Indian Oil, ONGC, GAIL, NTPC, SAIL and BHEL said at a press conference on Monday that BPCL’s proposed privatisation was like killing the golden goose and would hurt the economy, government’s social welfare programme and energy security.
Religare fraud: Singh brothers & co-accused laundered Rs 2,100 crores, ED tells court
The agency has alleged that the two brothers and co-accused Sunil Godhwani used 19 ‘shell’ companies to launder the money. Some of the money was allegedly laundered to foreign entities, said people with direct knowledge of the matter.
Religare fraud: Enforcement Directorate set to file chargesheet
Malvinder Singh and Shivinder Singh, ex promoters of REL were booked & arrested by the agency last year.
Majority of homebuyers, some lenders vote in favour of NBCC bid to acquire Jaypee Infra
The simultaneous voting to bids of both the contenders — NBCC and Mumbai-based Suraksha Realty — started on Dec 10 and ended tonight at 11.59 pm. As many as 13 banks and over 23,000 homebuyers have voting rights in the Committee of Creditors. Buyers have nearly 58 per cent votes. For a bid to be approved, 66 per cent votes are required.
Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service