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ANRAK ALUMINIUM
Andhra Pradesh mulls buying out Rakia’s stake in aluminium JVThe state government recently constituted a committee of senior officials headed by its mining secretary Gopala Krishna Dwivedi to explore ...- RBI asks SBI to move NCLT against Anrak AluminiumThe consortium of 23 banks led by SBI had extended loans of around Rs 4,000 crore to Anrak Aluminium’s projects and the entire loans turned...
- NCLT rejects Anrak's insolvency petition in 'national interest'Rejecting the petition filed by Anrak Aluminium, the NCLT's Hyderabad bench advised it to approach government agencies to resolve the issue...
- Anrak moves NCLT after Andhra Pradesh government declines Bauxite supplyThe development comes weeks after the AP government decided to cancel the agreement that APMDC had entered into with Anrak Aluminium to sup...
- Andhra Pradesh scraps permit to mine bauxite in eastern ghatsCompanies like Nalco and Hindalco mine bauxite in Odisha, while Andhra doesn’t tap the mineral.
- BoB puts accounts worth over Rs 9k cr on block as NCLT process gets delayedThe third largest lender had put Bhushan Power & Steel on sale in December 2018 but could not find a buyer.
- NCLT permits SBI to withdraw insolvency petition against AnrakOn Wednesday, NCLT Hyderabad bench member Ratakonda Murali ordered the petition as dismissed as it was sought to be withdrawn by the SBI.
- Anrak Insolvency: RBI moves Hyderabad High Court to lift stayThe tribunal had then directed both company and its lenders to explore the possibility of commencing commercial operations instead of looki...
- Hyderabad High Court stays Insolvency proceedings against Anrak AluminiumThe joint venture between the Penna group and UAE’s RAKIA has challenged the petition, arguing that it had already entered into a onetime s...
- Anrak challenges SBI’s insolvency petitionAnrak Aluminium is a joint venture between India’s Penna group and UAE’s Ras Al Khaimah Investment Authority.
- SBI enters into compromise deal with AnrakLast week, following RBI’s directives of the banking regulator, SBI moved the NCLT’s Hyderabad bench with an insolvency petition under Sect...
- Financial bids for all 12 large NPA accounts by month-end: SBI"Financial bids of Electrosteel and Monnet Ispat have already come. We hope to receive bids for remaining cases during this month itself," ...
- Shakti Bhog, Anrak, Wind World taken to bankruptcy courtThe three companies together owe banks more than Rs 12,000 crore in loans and interest.
- Banks gearing up to refer 24 of 28 large NPA accounts to NCLTIn August, the Reserve Bank had asked banks to either resolve the 28 more large stressed accounts or refer them to the NCLT by December 31.
- RBI won’t extend deadline for 2nd list of defaultersThe RBI also declined to relax any of its other stipulations, including the process related to restructuring outside the bankruptcy court.
- Banks set to send 23 of 28 large dud accounts to NCLT tomorrowIn August, the Reserve Bank had asked banks to either resolve 28 more large stressed accounts by tomorrow or refer them to the NCLT by Dece...
- Ras Al-Khaimah Investment Authority sends India arbitration noticeThe international arbitration notice has been filed citing provisions of the India-UAE Bilateral Investment Protection Agreement and UNCITR...
- Anrak Aluminium says may get government approval for bauxite projectThe mine, located in the southeastern state of Andhra Pradesh, will have an annual capacity to produce 1.5 million tonnes of bauxite.
- Politics of Bauxite Mining: Odisha and Andhra Pradesh face uncertain future in miningBauxite Mining in Odisha and Andhra Pradesh is now on a shaky ground with Union tribal minister writing to AP governor seeking a ban on the...
- Vedanta, Andhra co to source GMDC bauxiteVedanta Resources and Vishakhapattanam-based AnRak Aluminium limited will source 3 lakh tonnes bauxite from Gujarat Mineral Development Cor...
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