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ArcelorMittal's Lakshmi Mittal to face old hand as Jai Saraf may bid for Vedanta's ₹10,000 crore steel bizFormer ArcelorMittal executive Jai Saraf is discussing a potential bid for Vedanta's steel business, ESL Steel, with private credit funds, ...- Indian Hotels, Oberoi among companies keen to buy Westin KolkataThe other applicants include Prestige Estates, Sayaji Hotels, Jindal Power, Kotak Special Situations Fund, CVI Emcof Master Fund, Asset Rec...
- Nithia Capital acquires Crest Steel & Power for Rs 600 crore“With our newly forged partnership with Amalgam Steel, we believe Crest will soon achieve a successful turnaround and is well set on its pl...
- Bankrupt Sintex next on Mukesh Ambani's list? Reliance-ACRE submits EoIThis is a rare instance where RIL has formally submitted an expression of interest for a bankrupt company that is undergoing the corporate ...
- Maharashtra: 38 workers hurt in Uttam Galva Metallics plant accidentWardha District Collector Vivek Bhimanwar told the injured workers were admitted to two nearby hospitals, while those in critical condition...
- Nithia Capital and CarVal Investors complete acquisition of stressed assets of Uttam Group for ₹2,000 croreOn May 6th of 2020, a monitoring agency was formed, in which successful resolution applicants Nithia and CarVal along with two members from...
- Oaktree, Apollo lead giants betting on stressed India assetsSome global heavyweights like Apollo Global Management Inc. and Oaktree Capital Group have either struck recent India deals or scaled up th...
- Nithia Capital to close Uttam deal by end of October, has identified a new management team: CEO Jai Saraf“We are making full efforts to close the transaction by the end of this month. Once we close the transaction, our new team will go in,” Jai...
- NCLT approves resolution plan for stressed companies of Uttam GalvaBids were submitted by CarVal Investors and Nithiya Capital Resources Advisors. The resolution plans involve settlement to financial credit...
- Uttam Galva counters Deutsche’s $20-million recovery plea at NCLTUttam Galva has raised two contentions opposing the petition — one, that the debt was time-barred and the other, that the loan agreement wa...
- After Uttam Galva, UK’s Nithia Capital keen to bid for Visa SteelRecently, Bank of Baroda put its exposure of Rs 150 crore to the asset on the block as its insolvency resolution keeps getting delayed.
- SSG Capital moves NCLT; claims lenders ignored its claims for Uttam Galva assetsThe lenders have already approved CarVal-led consortium's resolution plan with 84 percent votes, which though is only around half the count...
- CarVal pays Rs 500-cr bank guarantee for Uttam Galva firmsThe two companies- Uttam Value Steels and Uttam Galva Metallics owe more than Rs 6,000 crore to a clutch of lenders.
- Uttam value, Galva lenders ignored higher bidBanks voted for CarVal’s Rs 2.5k crore offer but rejected SSG Cap-led consortium’s Rs 3.3k crore bid.
- Banks approve Rs 2,400-crore resolution plan for steel assets of Uttam GalvaTwo people aware of the resolution plan said the offer includes equity commitment of Rs 100 crore. Of the total amount, about Rs 650 crore ...
- 20 days more for resolution of Uttam GalvaThe 270-day resolution deadline for the companies is to expire this Wednesday, with lenders still to take a final call on the two bids that...
- Uttam Value Steels & Galva Metallics get new bids from CarVal consortiumCarVal Investors, the investment arm of US-based agri group Cargill, has bid for the assets along with Asset Reconstruction Company (India)...
- Lehman Brothers' staff will get wages for September: ReportLehman Brothers' administrator PricewaterhouseCoopers has reassured the bank's 4,500 staff will receive salaries for September if they turn...
- Spanish vacation home boom may go bust soonVacation home prices in Spain, a leading indicator of Europe’s property market, may face a slump that’s worse than the real estate decline ...
- Cargill to buy into asset revamp firmThe world of junk loans is witnessing big action. The investment arm of US-based seed company Cargill is set to acquire a 49% stake in an I...
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