Liberty House, which won bids to buy out stressed assets of Adhunik Metaliks and Amtek Auto, missed the deadline to make creditor payments.
UltraTech’s revised proposal was an improvement from the Rs 7,200 crore offer it made just after the deadline for bidding ended.
The last big deal in the renewable energy sector was in April when ReNew Power announced its plan to buy Ostro Energy for ₹10,800 crore.
Standard Chartered Bank has approached the dedicated bankruptcy court by filing caveat petition in the Essar Steel insolvency case as dissenting financial creditor, so that it can be heard before the tribunal decides on the bid of ArcelorMittal.
JSW Steel has submitted a bid of Rs 19,700 crore for the Bhushan Power and Steel asset, which is the highest of the three submitted.
The move raises ArcelorMittal’s total bid for Essar Steel to ₹50,000 crore ($6.8 billion).
For its India infrastructure business, KKR has hired Hardik Shah from investment management firm Brookfield Asset Management, where he was responsible for sourcing and executing infrastructure deals.
The new board has appointed Vineet Nayyar as the managing director and vice-chairman of IL&FS
The most high-profile among these exits was possibly that of Archana Hingorani who was executive director and CEO of IL&FS Investment Managers till she stepped down in April 2017.
Deal-making in the renewable energy space has slowed down since April because of changing policies, falling rupee and steep valuations.