Eveready Industries Ltd initiates recovery proceedings for Rs 4 12 crores from McNally equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Synopsis
Piramal Group, which was the successful bidder to own the indebted home financier is contemplating a legal action against the NCLT’s order that sought consideration of a settlement proposal by Kapil Wadhawan. Lenders felt the erstwhile promoter never participated in the process and only came up with porous proposals via a letter, sent well beyond the stipulated period of bidding process.
The settlement proposal by Wadhawan, according to bankers, comes “with numerous caveats and assumptions which makes it an uncertain bid for the CoC to accept”.
DHFL) Monday filed two separate applications at the National Company Law Appellate Tribunal (NCLAT) challenging Mumbai NCLT’s order that sought consideration of a settlement proposal by Kapil Wadhawan, a businessman under investigation for misdeeds.
ED attaches properties of USPL worth Rs 30 cr in PMLA case prokerala.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prokerala.com Daily Mail and Mail on Sunday newspapers.
On debt rejig drive, SP Group may sell stake in 3 companies
Surabhi
Mumbai |
Updated on
The Shapoorji Pallonji Group is looking to monetise its assets and may sell its stake partly or fully in at least three of its group companies, including Eureka Forbes, Sterling and Wilson Solar and Afcons Infrastructure, as part of the one-time debt restructuring package being discussed with the lenders.
The company plans to raise about ₹10,332 crore through this asset sale. Additionally, Inter Corporate Deposits (ICDs) given to the SP Group companies are also likely to be realised, largely from its real estate joint venture, SD Corp, and other entities forming part of Shapoorji Pallonji and Company Private Ltd’s real estate portfolio through monetisation of their project assets.