state bank of india

Vedanta unveils plan for achieving $10 billion EBITDA – ET Infra

The Vedanta Group has charted a strategic roadmap to achieve a $10 billion EBITDA soon, driven by the timely execution of 50-plus projects across various business verticals. This roadmap was discussed during site visits attended by more than 45 investors, fund managers, and analysts from leading brokerages and fund houses this week, according to two […]

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ED searches 30 locations in Rs 56,000 cr money laundering probe – ET Infra

The financial agency said it seized evidence hidden with the close confidantes of then MD Neeraj Singal. The ED said in a statement that during searches various incriminating documents or digital records were recovered and seized that were hidden with key employees or confidants of Neeraj Singal. The agency also seized cash to the tune

ED searches 30 locations in Rs 56,000 cr money laundering probe – ET Infra Read More »

Amalgam steel’s acquisition of topworth gets NCLT nod – ET Infra

The bankruptcy court has approved the acquisition of Topworth Steel and Power Pvt Ltd by Amalgam Steel and Power Limited. The company had admitted liability of about ₹3,499 crore, whereas the successful bidder proposed to pay around ₹260 crore. “The overall feasibility and viability of the plan stands unaltered,” the division bench presided over by

Amalgam steel’s acquisition of topworth gets NCLT nod – ET Infra Read More »

NARCL pays Srei lenders promised upfront cash – ET Infra

National Asset Reconstruction Co (NARCL), the winning bidder for the bankrupt Srei twins, has distributed to lenders Rs 2,580 crore of cash accumulated in the distressed infrastructure financiers as part of the debt-resolution program at the Kolkata-based companies. The cash was distributed as part of the Rs 3,180-crore upfront payment promised by the NARCL in

NARCL pays Srei lenders promised upfront cash – ET Infra Read More »

ACRE to buy Union Bank’s Rs 411 crore Visa Steel Loan – ET Infra

MUMBAI: Asset Care and Reconstruction Enterprises (ACRE), an Ares Management-backed asset reconstruction company, is set to acquire a Visa Steel loan of Rs 411 crore from Union Bank of India after no other bidders participated in the Swiss Challenge process. Union Bank held an auction on August 28 after the binding offer by ACRE triggered

ACRE to buy Union Bank’s Rs 411 crore Visa Steel Loan – ET Infra Read More »

ACRE to buy Union Bank’s Rs 411 crore Visa Steel Loan – ET Infra

MUMBAI: Asset Care and Reconstruction Enterprises (ACRE), an Ares Management-backed asset reconstruction company, is set to acquire a Visa Steel loan of Rs 411 crore from Union Bank of India after no other bidders participated in the Swiss Challenge process. Union Bank held an auction on August 28 after the binding offer by ACRE triggered

ACRE to buy Union Bank’s Rs 411 crore Visa Steel Loan – ET Infra Read More »

With Rs 1,000 cr at stake, Tata Steel moves SC in Bhushan Steel case – ET Infra

Tata Steel, which took over bankrupt Bhushan Steel in 2018, has challenged the Delhi High Court order regarding an avoidance application in the Supreme Court. The division bench stated that Tata Steel cannot benefit from the amounts received, and those benefits of about Rs 1,000 crore should be appropriated to the creditors, according to two

With Rs 1,000 cr at stake, Tata Steel moves SC in Bhushan Steel case – ET Infra Read More »

Afcons begins IPO talks with banks – ET Infra

New Delhi: Shapoorji Pallonji group unit Afcons has started talks with banks for an initial public offering (IPO) of shares as it seeks to monetise assets to help meet payment commitments made in loan covenants involving the company’s financiers, people aware of the stock sale initiatives told ET. A strategic sale of Afcons, an engineering,

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ED arrests former MD of Bhushan Steel in fraud case of Rs 56,000 cr – ET Infra

Image used for representational purpose only Neeraj Singhal, the promoter and former managing director of Bhushan Steel Ltd has been arrested by the Enforcement Directorate, followed by a search operation at his residence in connection with its probe in a bank fraud case of Rs 56,000 crore, as per TOI reports. Singhal has been remanded

ED arrests former MD of Bhushan Steel in fraud case of Rs 56,000 cr – ET Infra Read More »

ED arrests former MD of Bhushan Steel in fraud case of Rs 56,000 cr – ET Infra

Image used for representational purpose only Neeraj Singhal, the promoter and former managing director of Bhushan Steel Ltd has been arrested by the Enforcement Directorate, followed by a search operation at his residence in connection with its probe in a bank fraud case of Rs 56,000 crore, as per TOI reports. Singhal has been remanded

ED arrests former MD of Bhushan Steel in fraud case of Rs 56,000 cr – ET Infra Read More »

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