The Reserve Bank of India lifted restrictions on Kotak Mahindra Bank, allowing the Bank to onboard new customers through its online and mobile banking channels, and issue fresh credit cards. The RBI had placed restrictions on Kotak Mahindra Bank on 24-April 2024.
BCL Industries along with its subsidiary company (Svaksha Distillery Limited) had participated in a tender floated by oil marketing companies (OMCs) inviting various molasses and grain-based distilleries for supplying ethanol during ethanol supply year (ESY) commencing from November 1, 2023 to October 31, 2024 at their various locations across the country.
OMCs have allocated BCL Industries to supply a total of Rs 4.96 lakh litres amounting to Rs 339 cr. The company is ordered to supply 2.48 KL ethanol each in the period November 2023 to January 2024 and February 2024 to April 2024.
Svaksha Distillery has been allocated to supply a total of 3.24 lakh litres, amounting to Rs 561 cr. The subsidiary has bagged allocations for 1.44 KL in the period November 2023 to January 2024 and 4.28 KL for February 2024 to April 2024.
A Hinduja Group firm emerged as the highest bidder with an offer of Rs 9,650 cr to take over debt-ridden Reliance Capital in the second round of auction. The bid by IndusInd International Holdings Ltd (IIHL) is higher than Rs 8,640 cr offer made by Torrent Investments in the first round of auction held in December last year.
Additionally, Reliance Capital has a cash balance of approximately Rs 350-400 cr, which will also be distributed among the lenders.
Lenders could recover more than ₹10,000 cr, or about 40% of verified claims, under the proposal from IndusInd International Holdings Ltd (IIHL).
As much as 99.6% of the lenders favoured the plan as the voting ended.
Above Proposal is need to get Approval From NCLT/RBI/SC.
Reliance Capital is the third large non-banking financial company (NBFC) against which the central bank has initiated bankruptcy proceedings under the Insolvency and Bankruptcy Code (IBC).
Reliance Capital has a consolidated debt of about Rs 40,000 cr.
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Varun Beverages |
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WABAG has secured an order worth about $100 million towards engineering and procurement activities in relation to 120 million gallons per day (MiGD) Hassyan Sea Water Reverse Osmosis (SWRO) in the United Arab Emirates (UAE).
The Dubai Electricity and Water Authority (DEWA) selected Utico FZC as the preferred bidder to build the SWRO plant and operate it for 35 years, under the independent water producer (IWP) model, wherein DEWA would off-take 100% of water.
KEC International has bagged new orders worth Rs 1,065 cr across various businesses.
Its Transmission & Distribution (T&D) business has secured orders for projects in India, the Middle East, Africa, and Americas.
While the railways business has secured an order for construction of railway siding in the conventional segment in India, the civil business bagged an order for infra works in the water pipeline segment in the country.
The oil & gas pipelines business has secured an order for laying of oil and gas pipeline, through the company’s wholly-owned subsidiary, Spur Infrastructure Pvt Ltd.
The cable business has bagged orders for various types of cables in India and overseas. "Our order book continues to grow on the backdrop of orders secured across all our business verticals.
Tera Software has got work orders worth Rs 396.47 cr (including GST) from Dakshinanchal Vidyut Vitran Nigam Limited (DVVNL) and Pashchimanchal Vidyut Vitran Nigam Limited (PVVNL).
The company has signed agreements with DVVNL and PVVNL for the aforesaid work orders for door to door meter reading, on spot bill generation, bill distribution and bill collection in cluster-5 (Agra-1, Agra-2 and Aligarh Distribution Zones of DVVNL) and in cluster-1 (Meerut, Saharanpur and Noida Distribution Zones of PVVNL) for total 56,10,006 consumers in the State of Uttar Pradesh.
GR Infraprojects had got a letter of award (LoA) from the National Highways Authority of India (NHAI) for a project in Punjab.
The Rs 951-cr project involves the construction of four/six-lane Ludhiana-Rupnagar National Highway No. NH-205K in Punjab on hybrid annuity mode with the operation period of 15 years from commercial operation date.
RattanIndia Power Ltd has repaid Rs 1,219 cr debt in the last 15 months, including Rs 200 cr prepayment.
Company has not taken any new debt and the security pledge has been created in compliance with its existing one-time settlement (OTS) lending facility dated December 30, 2019, whereby CCDs (Compulsory Convertible Debentures) already part of security pledge of the OTS financing facility were converted into equity shares.
ITD Cementation secured two orders worth Rs 585 cr.
ITD Cementation India secured an order from Gujarat Metro Rail Corporation Limited for the development and construction of Dream City Depot including Metro Bhavan and associated Electrical & Mechanical works for the Surat Metro Rail Project, Phase-1.
It got an order from the Military Engineer Services for construction of Aero Space Museum at Air Force Station in Palam, Delhi.
Kitex, as part of the deal with the Telangana government, will set up its factories at the Kakatiya Mega Textile Park in Warangal district.
World’s 2nd largest manufacturer of kids apparel into Telangana with an initial investment of Rs 1,000 cr.
HPL Electric & Power has bagged two orders worth over Rs 372 cr.
The current total order book of the company now stands over at Rs 700 cr from Andhra Pradesh.
The renewables arm of Larsen & Toubro’s power transmission & distribution business has secured a turnkey EPC contract from the consortium of ACWA Power and the Water and Electricity Holding Company (a subsidiary of the Public Investments Fund of Saudi Arabia (PIF)), for Sudair Solar PV Project of 1.5 GW capacity.
Larsen & Toubro’s construction arm has bagged orders which are collectively in the range Rs 1,000 cr - Rs 2,500 cr.
These orders include jobs for heavy civil infrastructure, water and effluent treatment, and building and factories projects.
L&T has won an engineering, procurement and construction (EPC) job to construct a new four-lane bridge parallel to the existing Vikramshila Setu, and the approaches across river Ganga on the newly declared NH-131B at Bhagalpur in the state of Bihar. The project is scheduled to be completed in 48 months.
ARSS Infrastructure has bagged a Rs 210 cr highway order.
A work order of Rs 210 cr for improvement to two-lane with paved shoulder of NH-40 section in Meghalaya on EPC mode under JICA Loan Assistance was awarded by National Highways & Infrastructure Development Corporation Limited.
Housing finance co acquires 6.3-8.3% in Anil Ambani firms.
Housing Development Finance Corporation Ltd (HDFC) has acquired 6.43 per cent stake in Reliance Capital Ltd, 8.21% stake in Reliance Infrastructure Ltd, and 6.97% stake in Reliance Power Ltd following invocation of pledge on these companies shares by Axis Trustee Services Ltd, the security trustee on behalf of the Corporation.
In a stock exchange filing, HDFC said it acquired 1,62,45,000 shares carrying voting rights in Reliance Capital.
The Corporation said it acquired 2,15,80,995 shares carrying voting rights in Reliance Infrastructure.
As per the filing, HDFC also acquired 19,54,87,901 shares in Reliance Power.
