Overwhelmed by personal as well as the company's big ambitions, he began aggressive pursuit of business goals set by the management.
Six weeks after Lanco Infratech and Globeleq won the Rs 16,000-crore (Rs 160 billion) Sasan ultra mega power project, the Hyderabad-based company is planning to buy out its 70 per cent foreign partner.
Infrastructure conglomerate Lanco Group and leading financial services firm Edelweiss Capital have emerged frontrunners in the race for Axis Bank's private equity arm. According to two people familiar with the developments, Lanco and Edelweiss have made the most aggressive financial bids among all the non-binding ones that have come in so far. The bids, they said, were in the range of Rs 30-45 crore.
Babu had admitted more than once during his interrogation that it was the company's money.
The YSR government had allotted Waqf land worth Rs 32,000 crore to Lanco group and other companies ignoring the protest by the Waqf Board and other Muslim organisations. Mohammed Siddique reports
Adani group is on track to surpass a combined Ebitda (earnings before interest, taxes, depreciation, and amortisation) of Rs 1 trillion in the ongoing financial year (FY25) as it prepares for a $2 billion (over Rs 16,700 crore) share sale by its flagship entity Adani Enterprises next month, according to a source close to the matter.
ADAG group company Reliance Energy Ltd is the second-lowest bidder for the Rs 16,000 crore (Rs 160 billion) project, after Lanco. However, with the Lanco bid becoming invalid, REL could claim to be the lowest bidder.
Largest deal in thermal power space; Lanco to use proceeds to lower debt.
Lagadapati Rajagopal, now being referred to as the 'pepper spray member of Parliament', is holding talks with Andhra Pradesh's caretaker Chief Minister Nallari Kiran Kumar Reddy about floating a new political party.
After the 1,200-acre special economic zone at Noida and the Anil Dhirubhai Ambani Group's gas-based power plant at Dadri, Lanco Kundapalli's 1,000-Mw Anpara C power project in Sonebhadra district of Uttar Pradesh has come under the scanner
Bank had no obligations to Perdaman, the judge said.
An investment of Rs 600-700 crore (Rs 6-7 billion) is expected in the project.
The Union government has threatened to cancel coal block allocations of as many as 17 companies for failure to develop those allotted to them years before. These include big companies such as Tata Iron and Steel, Sterlite Energy, GMR Energy, ArcelorMittal India, Reliance Energy, GVK Power, Lanco Group and Rungta Mines.
The Anil Ambani group's Reliance Infrastructure and Hyderabad-based Lanco Infratech have so far purchased the Request for Qualification applications for taking up the Rs 12,132-crore (Rs 121.32 billion) Hyderabad Metro Rail project.
CFO of Lanco Group, Suresh Kumar explains how interest rate hikes would affect their project.
SC judges suspected a lack of objective criteria in the selection.
It is not just film stars who are spicing up the poll scene in Andhra Pradesh, but also corporate honchos who are jumping on to the political bandwagon to try their fortunes in Lok Sabha and assembly polls.
Acquisition of stressed infrastructure assets has pushed its debt to over Rs 1 lakh crore, highlighting concerns about its growth strategy.
Jaypee, Essar, GMR, GVK, Lanco, Abhijeet groups debt rise despite falling cash flow, says UBS
To tackle increasing demand, the Union Ministry of Power has urged central and state public-sector power-generating companies (gencos) and state power and energy departments to pick projects that are undergoing insolvency proceedings. The power ministry is looking at a quicker turnaround of these stressed power plants and enhancing power supply. Increasing demand is pushing states to scout for more power sources. "It is requested that state-owned gencos may be encouraged to participate in the corporate insolvency resolution process (CIRP) of stressed power assets, which are of strategic and commercial significance to the capacity addition plans of the states concerned.
Piramal will join the JSW, Vedanta and Tata groups, which are bidding aggressively for distressed assets, especially in the infrastructure and steel sectors.
Rogue lending under political influence was rife in the Congress-led regime and is not happening in the Modi regime, certainly not on that scale. But if PSBs cannot lend as indiscriminately as they did last time in the name of 'credit expansion', how well will these banks do, asks Debashis Basu.
Amid the increasing pressure on the Chief Minister N Kiran Kumar Reddy from the Central government either to end the crisis arising out of the indefinite strike of government employees or face the axe, crucial talks were scheduled to take place between the chief minister and the leaders of the Andhra Prasdesh Non Gazetted Officers Association on Wednesday.
Follow Anil Ambani group and Lanco for asset valuation.
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.
Indian companies struggle to escape debt burden as profit slows.
It is time to pack up, sir! Please resign and save some honour of the Lok Sabha, an anguished Sheela Bhatt reports from the Lok Sabha press gallery after watching the shameful goings on over the tabling of the Telangana Bill.
The CEOs, sources said, also discussed the steps to raise domestic production of coal.
The month also saw Adani Power acquiring the 600-Mw Korba West thermal power plant from the Gautam Thapar-led Avantha group for Rs 4,200 crore (Rs 42 billion).
The Central Bureau of Investigation on Monday filed its first charge-sheet in a Delhi court in the coal blocks allocation case against Navabharat Power Pvt Ltd for allegedly misrepresenting facts and making "fraudulent" claims to "embellish" its applications to get allotments between 2006 and 2009.
Five companies, including NTPC, Reliance Power, Lanco Infratech, Jindal Power and Sterlite Energy, of the 11 pre-qualified bidders, were in the fray for the project. The financial and technical bids for the coal-based thermal power project were invited on December 29 and the final financial bids were to be opened within 15 days.
The sale of Essar Oil was India's biggest deleveraging exercise undertaken by any debt-heavy group
Govt went against its own recommendation of Jun 20, 2007, where along with the 2 Jindal companies, it wanted 40% coal block to go to Lanco.
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.
The group plans Rs 30,000-cr oil refinery with IOC; buys Lanco's Udupi power plant for Rs 6,000 cr
New SDR norms allow promoters to manage debt-laden firms.
Promoters of companies who have pledged their shares to raise funds from banks will be asked to top up with more shares if the carnage in the market continues.
'The growth drivers are mostly invisible, but the growth is undeniable at least for now,' notes Debashis Basu.
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