Fortis Healthcare has raised Rs150 crore bridge loan from RattanIndia Finance to keep the struggling hospital operator afloat till it finds a buyer
Some investors are already anticipating that the firm may be admitted for insolvency proceedings if there are more delays in arriving at a resolution plan.
Many hurdles remain in the Fortis-Manipal deal to create India’s largest hospital chain, but Ranjan Pai is not ready to give up on the acquisition
JSW Steel Ltd is bidding for debt-ridden Essar Steel Ltd in alliance with Numetal Mauritius
The Fortis-Manipal deal is also likely to face hurdles from Japanese drug maker Daiichi Sankyo.
The auction of Essar Steel Ltd also saw bids from ArcelorMittal Netherlands NV-Nippon Steel and Sumitomo Metal Corporation (NSSMC) duo, and Vedanta.
Dalmia Bharat will approach a higher court if the Kolkata bench of National Company Law Tribunal (NCLT) decides against it in the battle for Binani Cement acquisition.
Bhushan Steel owes about Rs44,000 crore to its creditors.
Bidding will be open to all six companies which had submitted expressions of interest in Essar Steel in the first round of bidding.
Aircel and its subsidiaries Aircel Cellular Ltd and Dishnet Wireless Ltd together owe around Rs50,000 crore to creditors.