Cement News tagged under: NCLT
NCLT approves Dalmia's acquisition of Murli Industries with conditions11 July 2019, Published under Cement NewsIndia’s Dalmia Cement (Bharat) has received approval from National Company Law Tribunal (NCLT) Mumbai regarding its offer to save Murli Industries from liquidation. However, the assembly has outlined certain conditions for the deal. The liquidation value of Murli’s assets is INR2.31bn (US$33.6m) while Dalmia has offered INR4.02bn for the acquisition of its 3Mta cement manufacturing business in Maharashtra. The offer will see banks receive INR3.8bn out of the INR27.83bn due, according to Th... |
State Bank of India may take five companies to NCLT14 March 2018, Published under Cement NewsBurnpur Cement and four Patni Group entities may be brought to the National Company Law Tribunal (NCLT) by the State Bank of India (SBI) for insolvency proceedings, according to The Economic Times. The Patni Group has defaulted on INR30bn (US$462.17m) of unpaid loans and dues, while Burnpur has defaulted on INR2.5bn. SBI has not commented on the allegations that it will take the borrowers to court. The bank currently accounts for the highest amount of gross non-performing assets in the cou... |
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