There was a family feud raging in the company that counts itself among the world's biggest wire rope makers.

Usha Martin would stick to its wire rope business after exiting from steel.

The 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 ...

"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 board had signed an agreement with Tata Steel on September 22 to sell the Kolkata-based company's steel and wire rope business ...

The deal is expected to be completed over the next two-three quarters.

Usha Martin founder Basant Jhawar and his son Prashant Jhawar in a statement said that there was no clarity on end-use of sale proceeds.

Usha Martin will get paid for fixed assets, with the deal being structured on a zero working capital basis.

Jhawar has already met Tata Steel executives and is believed to have also contacted Sanjeev Gupta of the Liberty group last week.

For 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...

Basant Jhawar, 82, and his son Prashant Jhawar have filed complaints at the National Company Law Tribunal and the Calcutta High court in pu...

A meeting had earlier been called Saturday to consider raising further equity through a private placement to promoters.

The meeting was called at the behest of State Bank of India (SBI), our largest lender, with a resolution seeking the removal of Prashant Jh...

The economy is picking up and demand from both auto and infrastructure sector is seen growing. That will help our steel business, Rajeev Jh...

We think that the promoters are not working in the interest of the company," said an SBI official.

Chairman of Usha Martin Prashant Jhawar said that the specialised steel market was still subdued as demand was yet to pick up.

Eyeing the growing Chinese market, wires and speciality steel producer Usha Martin will set up an office in that country next month.