Malvika Joshi

In surprise bid, JSW Steel joins hands with Numetal to buy bankrupt Essar Steel

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 prepares for legal action as battle for Binani Cement escalates

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.

India: Creditors select Tata Steel as successful applicant to buy Bhushan Steel

Bhushan Steel owes about Rs44,000 crore to its creditors.

Lenders to reauction Essar Steel after rejecting ArcelorMittal, Numetal bids

Bidding will be open to all six companies which had submitted expressions of interest in Essar Steel in the first round of bidding.

India: NCLT admits beleaguered telecom operator’s Aircel bankruptcy plea

Aircel and its subsidiaries Aircel Cellular Ltd and Dishnet Wireless Ltd together owe around Rs50,000 crore to creditors.

Bain-backed group pips UltraTech to win bid for India’s Binani Cement

Dalmia Bharat Cement emerged the winner for troubled Binani Cement, beating India’s largest cement maker UltraTech that put in a nearly identical bid.

Liberty House submits last-minute bid for India’s Bhushan Power

The firm submitted a sealed bid to the resolution professional of the beleaguered power firm, pitting it against Tata Steel and JSW.

India: Liberty House in talks with lenders of Amtek Auto over restructured deal

Lenders rejected the only two bids received from Liberty House, on the grounds that they quoted less than Amtek’s liquidation value.

India: SBI may seek fresh bids to select IRPs for Videocon firms

The Videocon firms were in RBI’s second list of defaulters against whom banks were directed to file insolvency petitions

India: IIFL arm to raise $500m for maiden offshore affordable housing fund

It is raising a similar $500 million fund from domestic investors. IIFL Asset Management, an arm of IIFL Investment Managers, expects to close its domestic fund by the end of the financial year.