CR Sukumar

  • Blackstone gets NCLT nod to acquire Trident Hotel for Rs 585 crore

    Blackstone gets NCLT nod to acquire Trident Hotel for Rs 585 crore

    This is the first deal by the global private equity giant under India’s Insolvency and Bankruptcy Code (IBC) to infuse foreign capital. As a part of its resolution plan, Blackstone Group under its resolution plan has agreed to pump in Rs 384 crore up front to clear the dues of the workmen and creditors, apart from committing infusion of Rs 180 crore towards capital expenditure.

    Delhi Debacle: BJP may reach out to regional parties to stem tie-ups

    Delhi Debacle: BJP may reach out to regional parties to stem tie-ups

    Modi agreed to meet YSR Congress president YS Jagan Mohan Reddy; the PM had denied the latter time twice in the recent past. This development also comes amid rumours that the saffron brigade is looking to reach out to YSRCP in Andhra and DMK in Tamil Nadu to support the BJP government, especially in the Rajya Sabha.

    Industry in a bind over local job rules in Southern states

    Industry in a bind over local job rules in Southern states

    An upcoming law by Karnataka and the Andhra Pradesh government’s directive to hire more locals in the skilled worker category have thrown a spanner in the works of manufacturing facilities. Business experts are of the view that local hiring obligations were not insurmountable problems but involved costs.

    Ramky Enviro looks to triple revenue in 3 years

    Ramky Enviro looks to triple revenue in 3 years

    “We are eying to triple our revenues over the next three years as projects involving investments of over Rs 2,700 crore will take off with significant revenue contributions,” Ramky Enviro Engineers (REEL) CEO and managing director M Goutham Reddy told.

    In a first, IBC process ordered for failing to pay an insolvency services company

    In a first, IBC process ordered for failing to pay an insolvency services company

    The NCLT’s Hyderabad bench has ordered the proceedings at Sri Yadadri Life Sciences (SYLS) for the alleged default in payments to Adroit Financial Services (AFS) for advice given on insolvency resolution and services towards capital structuring and settlement of debt through a one-time settlement (OTS) with its lender.

    Centre exploring bill discounting via RBI to bail out road builders

    Centre exploring bill discounting via RBI to bail out road builders

    Road transport and highways minister Nitin Gadkari has promised to work on alternatives to bank guarantees and arrange construction equipment and machinery from manufacturers on lease basis with the government extending guarantees, said BAI vice-president K Sriram.

    From Moradabad to Hyderabad, Muslims worry about the impact of new citizenship law

    From Moradabad to Hyderabad, Muslims worry about the impact of new citizenship law

    The CAA fast-tracks citizenship for five non-Muslim communities in Pakistan, Afghanistan and Bangladesh, but the concern is in what it signals — making citizenship a matter of faith — and the kind of effect it will have on the ground for people who find themselves excluded from NRC. The law will throw a lifeline for non-Muslims, while the Muslims out of NRC would be incarcerated or relegated to non-citizens.

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