Tag Archives: icici bank

SBI to Essar Steel: Pay up or face management change

MUMBAI: Banks led by State Bank of India (SBI) are said to have served an ultimatum on Essar Steel to start repaying the money it owes or be prepared for a forced change in management. This was conveyed at a … Continue reading

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Aion Capital in talks with troubled Uttam Galva Steels for takeover

MUMBAI: Aion Capital Partners — a joint venture venture between Apollo Global Management, one of the world’s largest distress asset investors, and ICICI Venture is planning to throw a lifeline at the troubled steel maker Uttam Galva. Aion is in … Continue reading

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​Monnet Ispat gets extension of 90 days to complete insolvency resolution process

MUMBAI: The Mumbai bench of NCLT on Tuesday granted the resolution professional of debt ridden steel company Monnet Ispat and Energy an extension of 90 days to complete its insolvency resolution process as the initial 180 days were to expire … Continue reading

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Essar Steel’s operational creditors to get Rs 1,000 crore more

Majority of lenders to Essar Steel have voted in favour of giving Rs 1,000 crore more to operational creditors as part of the settlement offered by ArcelorMittal, but rejected Standard Chartered’s claims for a higher amount, which may further delay … Continue reading

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ICICI Venture picks minority stake in Anthea Aromatics for Rs 120 crore

MUMBAI: ICICI Venture is investing about Rs 120 crore for a “significant” minority stake in Anthea Aromatics, which manufactures and exports chemicals to firms across the world for use in food flavouring and fragrances. The investment – the first from … Continue reading

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Lenders to recast Rs 2,390 cr loans of ICOMM Tele

MUMBAI: Indian lenders are set to restructure loans close to Rs 2,390 crore extended to ICOMM Tele, a Hyderabad-based engineering, procurement and construction firm. Recently, the lead banker to the company, Axis Bank, had referred the loan of ICOMM Tele … Continue reading

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Cash-strapped Lanco Infra’s CDR runs into trouble?

Cash-strapped Infrastructure Company Lanco has run into trouble as far as its corporate debt restructuring plan is concerned. According to sources with direct knowledge, lenders aren’t inclined to pass the proposal to restructure Rs 7,500 crore of loans Lanco Infratech … Continue reading

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Liquidator may sell Mafatlal Engg’s 120 acres to repay lenders

MUMBAI: The Official Liquidator of the Bombay High Court is looking to sell around 120 acre land parcel of Mafatlal Engineering Industries to repay dues of its lenders and more than 3,000 workers. The contiguous land parcel in Thane’s Kalwa … Continue reading

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Lavasa lands in trouble for flouting green laws

NEW DELHI: The Union environment ministry has issued a show-cause notice to Lavasa Corporation, which is constructing a 25,000-acre hill township near Pune, alleging myriad violation of environmental laws. The company, promoted by a clutch of investors led by Hindustan … Continue reading

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Jaypee infra lenders seek clarity from NBCC on acquisition bid

MUMBAI: Lenders of crisis-hit realty developer Jaypee Infratech, in a meeting held on Friday, sought clarity from state-run NBCC on certain legalities and on its bid to acquire the company. NBCC is expected to respond to these queries and observations … Continue reading

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