State-owned State Bank of India has filed an insolvency petition against the country’s largest sugar firm Bajaj Hindusthan Sugar Ltd. SBI as a financial creditor has filed the plea before the Allahabad bench of the National Company Law Tribunal (NCLT).
The resolution plan envisages a reduction of its overall debt, realignment of its capital structure, payment of cane dues of farmers, increasing cane availability and supply, etc. “The company is also exploring/evaluating various options for corporate restructuring to streamline the business and enhance the company’s value,” Bajaj Hindusthan said.
Techno Electric & Engineering Company Limited recently secured prestigious new orders for FGD totaling to ₹1,455 crore. It bagged orders from Rajasthan Rajya Vidyut Utpadan Nigam Ltd, Kota, for ₹666 crore (1x210 MW +2X 195 MW) and Rajasthan Rajya Vidyut Utpadan Nigam Ltd, Jhalawar ₹789 crore (2x 600 MW).
Eros Media World (Eros International Media) on Tuesday said it has entered the Saudi Arabian market through a partnership with Arabia Pictures Group. The tie-up will chase opportunities in the web 3.0, content production, and technology space, a statement said.
Rare Enterprises (of Rakesh Jhunjhunwala’s) has bought 42.5 lakh shares of Singer India at an average price of ₹53.50 a share, through a block deal. According to BSE data, investors such as Seven Hills Capital, Insurexcellence Advisors Pvt Ltd, TIA Advisors LLP, Veena Kumari Tandon, Gauri Tandon, Illingworth Advisors LLP, Pivotal Business Managers LLP have also bought shares in the firm while Retail Holdings India BV sold around 1.2 crore shares in the company.