Miscellaneous

Kishangarh Gulabpura Tollway Private Limited, a special purpose vehicle incorporated by IRB Infrastructure Private Limited, has achieved financial closure for Package I of the Kishangarh-Gulabpura highway project. It involves the six-laning of the 90 km […]

Aircel has filed for bankruptcy in the National Company Law Tribunal (NCLT), Mumbai bench. This final resort was taken when the Malaysian-owned Maxis Communications failed to strike any agreement with its lenders and shareholders. It […]

Monnet Ispat and Energy Limited’s creditors have approved an offer made by a consortium of distressed asset fund AION Capital Partners and JSW Steel. The offer includes a payment of Rs 24.5 billion to the […]

The central government has relaxed foreign direct investment (FDI) norms for Air India, which is currently undergoing divestment. According to the revised norms, foreign airlines are permitted to invest up to 49 per cent in […]

The Jaypee Group has restructured its outstanding foreign currency convertible bonds (FCCBs) after renegotiating with investors, including Goldman Sachs and Deutsche Bank. The deal allows the conglomerate to delay its debt obligation by about four […]

The National Investment and Infrastructure Fund (NIIF) and Dubai-based port operator DP World have set up a platform to invest in ports, terminals, transportation and logistics businesses in India. The platform, NIIF’s first, will invest […]

PNC Infratech Limited has achieved financial closure for the Chitradurga-Davanagere six-laning road project. The project involves the six-laning of the Chitradurga-Davanagere stretch, including the Chitradurga bypass, from km 0 to km 20.7 and km 208 […]

US buyout giant KKR & Company has become the first foreign investor to fully own an asset reconstruction company in India as it has received approval from the Reserve Bank of India. KKR plans to […]

The central government has relaxed foreign direct investment (FDI) norms for Air India, which is currently undergoing divestment. According to the revised norms, foreign airlines are permitted to invest up to 49 per cent in […]

The central government has set up a panel to tackle the problem of stressed power assets in the country. The committee is headed by Amitabh Kant, NITI Aayog, and comprises secretaries of the Ministry of […]

The International Finance Corporation has partnered with the Housing Development Finance Corporation (HDFC) to create an $800 million fund to finance the construction of affordable houses. To create this fund, IFC will pump in $200 […]

ADIA, the sovereign wealth fund of the Gulf emirate, has agreed to invest $1 billion (Rs 64.7 billion) in the National Investment and Infrastructure Fund’s (NIIF) Master Fund. ADIA will become the first institutional investor […]

Jaiprakash Associates’ board has approved the transfer of certain assets and liabilities, including debt of over Rs 118.34 billion, to its subsidiary, Jaypee Infrastructure Development Limited, as a part of its efforts to cut the […]

The Ministry of Power is formulating a scheme to revive 34 stressed thermal powerplants with a total capacity of 40,000 MW by inviting competitive bids from them to supply power to state utilities for five […]

Sadbhav Infrastructure Projects Limited is in the process of refinancing the debt of nine of its eleven road projects, which will result in savings of over Rs 1.27 billion annually. Two subsidiaries of the company […]

The Ind Bharath Group has filed an insolvency petition against Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) to recover dues of over Rs 7 billion from the state utility under the Insolvency and Bankruptcy […]

The National Company Law Tribunal (NCLT) has appointed an interim insolvency professional for SmartCity (Kochi) Infrastructure, after admitting a payment defaultclaim by a creditor against the JV between the Kerala government and Dubai’s Tecom Investments. […]

Supreme Infrastructure has received the nod to restructure its Rs 24.1 billion debt raised from an SBI-led consortium under the Scheme for Sustainable Structuring of Stressed Assets (S4A). Meanwhile, the Reserve Bank of India’s oversight […]

Aiming at a major push for infrastructure, Indian Railways will raise Rs 350 billion with World Bank assistance to create a separate fund for investment in the rail sector. The proposed Railways of India Development […]