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USHA MARTIN BOARD
Usha Martin incorporates stepdown JV firm in Saudi ArabiaHomegrown wire ropes manufacturer Usha Martin on Saturday said it has incorporated a step-down joint venture subsidiary company in Saudi Ar...- Tatas complete take over of Usha Martin's steel businessThe deal was completed "pursuant to a cash consideration of Rs 4094 crore payable to UML after adjustment for negative working capital and ...
- Basant Jhawar strongly objects to removal from Usha Martin BoardThe UML board has agreed to sell off the company's steel business to Tata Steel for Rs 4,600 crore to pare debt.
- Co-founder thrown out, Usha Martin family feud reaches breaking pointThere was a family feud raging in the company that counts itself among the world's biggest wire rope makers.
- MCA summons directors, officers of Usha MartinUsha Martin would stick to its wire rope business after exiting from steel.
- Prashant Jhawar seeks details of Usha Martin steel business sale planThe company agreed to sell its steel division to Tata Steel for Rs 4,300-4,700 crore in September and the board approved the decision last ...
- Prashant Jhawar supports Tata Steel's takeover of Usha Martin's steel business"We are confident that TSIL will run the assets in the way they deserve to be administered and enhance the legacy," Jhawar said in a statem...
- Usha Martin buy to diversify Tata Steel's product range:ReportUsha Martin board had signed an agreement with Tata Steel on September 22 to sell the Kolkata-based company's steel and wire rope business ...
- Usha Martin promoters seek clarity on fund use from slump sale to Tata SteelThe deal is expected to be completed over the next two-three quarters.
- Usha Martin founder seeks details on end-use of funds from Tata Steel dealUsha Martin founder Basant Jhawar and his son Prashant Jhawar in a statement said that there was no clarity on end-use of sale proceeds.
- The big surprise: Usha Martin takes the path less troddenUsha Martin will get paid for fixed assets, with the deal being structured on a zero working capital basis.
- Four suitors for Usha Martin’s steel unitJhawar has already met Tata Steel executives and is believed to have also contacted Sanjeev Gupta of the Liberty group last week.
- Usha Martin plans to sell steel businessFor UML which decided to cut down its debt by looking at sale of its wire ropes business a year and half back, this marks a shift in strate...
- Row within Usha Martin founding family intensifiesBasant Jhawar, 82, and his son Prashant Jhawar have filed complaints at the National Company Law Tribunal and the Calcutta High court in pu...
- Usha Martin board decides not to opt for fresh capital infusionA meeting had earlier been called Saturday to consider raising further equity through a private placement to promoters.
- Main aim is to bring down companies debt levels: Rajeev Jhawar, managing director of Usha MartinThe meeting was called at the behest of State Bank of India (SBI), our largest lender, with a resolution seeking the removal of Prashant Jh...
- Our main objective is to bring down debt to sustainable levels: Rajeev Jhawar, MD, Usha MartinThe economy is picking up and demand from both auto and infrastructure sector is seen growing. That will help our steel business, Rajeev Jh...
- SBI calls board meeting at Usha Martin to take stockWe think that the promoters are not working in the interest of the company," said an SBI official.
- Usha Martin posts Rs 36 crore loss in third quarterChairman of Usha Martin Prashant Jhawar said that the specialised steel market was still subdued as demand was yet to pick up.
- Usha Martin to set up office in ChinaEyeing the growing Chinese market, wires and speciality steel producer Usha Martin will set up an office in that country next month.
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