The Kolkata bench of the National Company Law Tribunal approved a Rs 301 crore resolution plan against Rs 816 crore admitted claims from creditors, employees, and trade creditors.
The Kolkata bench of the National Company Law Tribunal approved a Rs 301 crore resolution plan against Rs 816 crore admitted claims from creditors, employees, and trade creditors. Shri Ram Multicom has developed Fairfield Hotel, a budget category hotel and operates malls and hotels in Dhanbad, Jharkhand.
Adani Power and Jindal Power are reportedly among the companies expected to express interest in the acquisition of Hiranmaye Energy, a thermal power company that recently entered corporate insolvency. Sources familiar with the matter have indicated that Hiranmaye Energy, formerly known as India Power Corp (Haldia), underwent corporate insolvency proceedings earlier this month following a petition filed by REC.
The acquisition after months of negotiations marks the Boston-based independent tower companys exit from India. ATC had informed the US Securities and Exchange Commission in February 2023 that it was exploring strategic alternatives, including the sale of an equity stake in its India operations, amid a challenging business environment.
Brookfield outbids I Squared Capital to acquire 100% of American Tower Corp s India unit, overcoming delays in I Squared s negotiations for a 65% stake. This move echoes Brookfield s previous investment in Reliance Jio s tower assets, emphasizing strategic positioning for 5G technology. ATC sought suitors to divest up to 100% but faced valuation challenges amid uncertainties with Vi s financial struggles. The acquisition reflects Brookfield s assertive presence in India s telecom infrastructure.