ArcelorMittal could be interested in Bhushan Steel or Essar Steel, two of the five steel companies referred by RBI for insolvency proceedings.
The haircut for major banks stands at 52 per cent, if the dues of Jaypee Infrastructure, Lanco Infrastructure and Era Infrastructure are kept out of the calculation.
Analysts said with more power sector companies referred to the NCLT by banks, large companies would be at an advantage.
The Hinduja Group, Mukesh Ambani, Murugappa, and the Adani groups were the other gainers in the Modi regime, while Naveen Jindal and Sun Pharma groups saw the most erosion in their m-cap in the last five years, reports Krishna Kant.
So what's up? Why are so many promoters heading for the door? It cannot be that all of them lost their appetite for a good fight at the same time.And if Naresh Goyal of Jet Airways and Subhash Chandra of Zee Entertainment do bow out, will it be seen as chickening out when the going got tough or the entrepreneurial instinct of surviving to fight another battle waned, wonders Shailesh Dobhal.
Bankruptcy proceedings are going at a slower pace than what the bankers had envisaged and many cases have gone beyond the 270-day timeline set under the IBC mainly because of litigation.
'One by one we are seeing these private banks taking people's money and mismanaging it.' 'In the last 30 years, 30 private banks have collapsed.' 'Nationalise all banks so that people's money is safe.'
Pursuit of raw material had landed Bhushan Steel in the coal block allocation scam.
Firm terms lenders' move to appoint monitoring agency 'unwarranted'.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
The financial year ending Saturday saw such big-ticket events that set the directional tone for the country's business journey.
In corporate India where family disputes have become far too common, the Miglanis work as a team.
The Insolvency and Bankruptcy Code (IBC) got a leg-up with Tata Steel's acquisition of Bhushan Steel, the first big case to be resolved. Tata Steel CEO & MD T V Narendran tells Ishita Ayan Dutt how this deal moved so quickly while others are still mired in controversies.
Though the current National Democratic Alliance government has not endorsed the figure, it has not even repudiated it.
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