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Laden with an outstanding debt of nearly Rs. 2.85 billion, the iconic public sector enterprise, Burn Standard Company, which is facing the insolvency resolution process in the Kolkata bench of the National Company Law Tribunal (NCLT), is banking on monetisation of landholding to save the company from liquidation.Sources said the company, which traces back its foundation to 1781, has nearly 422 acre of land across West Bengal, Jharkhand, Rajasthan, Tamil Nadu and other locations which is valued at nearly Rs. 8 billion - enough to pay the outstanding dues to its financial and operational creditors as well as the retired employees and suffice the needs of working capital estimated at Rs. 1 billion.However, book keeping hasn't been consistent and most of the land has been encroached upon. Company officials are now in talks with the respective state governments to free the land under its ownership.A senior company official said that since the company's assets are more than the existing ...
JSW Living Pvt Ltd is a joint venture between JSW and Piramal Enterprises
IMFR Capital plans to enter into strategic alliances with domestic and international institutions for a long term
It was alleged in the Bank of Baroda complaint that the conspirators had cheated a consortium of banks to the tune of Rs 36.95 bn, including the interest component
The focus on SoftBank's bond guarantees highlights how the market remains concerned about the broader company's huge debt that it's accumulated making investments around the globe
In the complaint filed by BoB, it was alleged that a consortium of seven banks had been cheated by Kothari and his company by siphoning off Rs 36.95 bn (including principal) taken as loan
The company has decided to go for bankruptcy proceedings in the NCLT, after RCom walked out of merger deal and Maxis gave it a wide berth
The company believes that the asserted claims are without merit and intends to vigorously defend itself against the allegations
Domestic demand-supply gap in the key input, which was 14% in 2016-17 has gone up to 20% in 2017-18
Tez is a mobile app for digital payments, built with the goal of making digital payments as easy as using cash
The trend indicates cautious and focused investing by investors with an eye on profitability, the report said
Industrial conglomerate Larsen and Toubro (L&T) on Monday said its construction arm has bagged orders worth Rs 1,680 crore from the Pune Municipal Corporation to revamp the water supply system in the city.
Under the partnership, HMD Global is offering the Nokia 3 and Nokia 2 smartphones - bundled with Airtel's Rs 2,000 cashback offer - at an effective price of Rs 7,499 and Rs 4,999, respectively
Xiaomi has acquired 57% online market share after dethroning Samsung from its top spot
Fortis Healthcare has also come under the lens of Sebi, which launched an investigation into alleged regulatory lapses
While China manufactures everything from a chip to a converter for its electric vehicles, Indian automakers use imported electronic equipment
The focus on learning, in a market notorious for its rigid exam-oriented education system and piles of homework, could help Lego in China as business elsewhere softens
URJA's main aim is to offer a life with dignity to battered, bruised and beaten women when all other avenues are closed
Following Nirav Modi's footsteps, another defaulter Vikram Kothari, the promoter of Rotomac Pens, has allegedly left the country
Foreign nationals prohibited under US law from contributing money in connection with any election in the US