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17 April, 2018 5:26 PM Jagan is on morning walk, says Uma

‘He is conspiring to stall Polavaram’ Referring to Mr. Reddy calling Amaravati as “Bhramaravati,” the Minister said the Leader of the Opposition could not have thought of a worse way to insult the farmers who had parted with their land for the development of the new capital. Mr. Rao charged Mr. Reddy with continuously striving against construction of the capital 42

17 April, 2018 4:07 PM NCLT approves Vedanta's resolution plan for Electrosteel

Kolkata: The National Company Law Tribunal`s (NCLT) Kolkata bench on Monday approved Vedanta Ltd`s resolution plan for the insolvent Electrosteel Steels Ltd. During the insolvency proceedings, the debt-laden company`s resolution professional had submitted Vedanta`s resolution plan before the bench for final disposal after lenders declared it as "successful 73

17 April, 2018 4:36 AM Binani Industries seeks shareholders’ nod for sale of cement arm to UltraTech

There are six bids with the highest being ₹6,590 crore. Binani Industries Ltd. has sought the approval of shareholders for sale of 98.43% equity shares and 100% of preference shares of its arm, Binani Cement, to UltraTech Cement Ltd. Bank of Baroda had initiated insolvency proceedings against Binani Cement. According to resolution professional, the total 42

13 April, 2018 9:24 AM SC refuses out-of-court settlement for Binani Cement

Binani Industries will now argue the settlement plea in the National Company Law Tribunal. In a major setback to the Kumar Mangalam Birla-led UltraTech Cement, the Supreme Court on Friday refused to allow an out-of-court settlement for bankrupt Binani Cement. Binani Industries, the parent of Binani Cement had reached an out of court deal with the Aditya 54

12 April, 2018 5:22 PM Essar Steel resolution may face further delay

The 270-day deadline ends on April 29 Essar Steel’s bankruptcy resolution may face further delays after the Ahmedabad bench of the National Company Law Tribunal (NCLT) declined to modify an order barring the resolution professional (RP) from opening the second round of bids for the firm till it pronounces judgement on the eligibility of the first-round 36

9 April, 2018 6:09 PM Client insolvency to hit Q4 profitability: Wipro

Wipro on Monday said one of its telecom client in India has filed for bankruptcy and it would impact its profit for March quarter and year ended March 31, 2018. "On February 28, 2018, the Client filed a petition to initiate its Corporate Insolvency Resolution Process (CIRP) with the National Company Law Tribunal (NCLT)," Wipro said in a stock exchange 76

7 April, 2018 5:30 PM Vatican Arrests Ex-Diplomat In Child Sex Abuse Probe

Vatican city: The Vatican said on Saturday a monsignor who was a former advisor at its US embassy in Washington has been arrested on suspicion of watching child sex abuse. A Vatican statement said that an arrest warrant had been issued for Carlo Alberto Capella, which was carried out by the Vatican Gendarmerie. "The accused is being detained in a cell in the barracks 47

5 April, 2018 7:58 AM SC allows RCom to sell assets

RCom will soon approach NCLAT against the NCLT order for Tower sale. In a major relief to Anil Ambani led Reliance Communications (RCom), the Supreme Court on Thursday vacated a stay on RCom asset sales in favour of Swiss telecom equipment maker Ericsson granted by the Bombay High Court, paving the way for $3 billion sale of RCom assets to Mukesh Ambani 37

4 April, 2018 8:46 PM India Is World's Second Largest Producer Of Crude Steel, Overtakes Japan

Mumbai: In a major achievement, India has overtaken Japan to become the world's second largest producer of crude steel in February, according to the Steel Users Federation of India (Sufi). At present, China is the largest producer of crude steel in the world, accounting for more than 50 per cent of the production. India's crude steel production was up 4.4 per cent and stood 50

3 April, 2018 3:59 PM ‘Settle Binani sale dispute amicably’

The National Company Law Appellate Tribunal (NCLAT) on Tuesday allowed the parties in dispute over selling of debt-ridden Binani Cement to settle the dispute amicably. A two-member bench of the appellate tribunal gave liberty to the parties entangled in vexatious litigations, to settle the case amicably. “We give liberty to parties to reach settlement 28