According to sources, the Ministry of Finance is mulling over a proposal that includes temporary suspension of most of the taxes levied on the aviation sector, including a deferment of the aviation fuel tax. The […]
The NCLT has ordered the liquidation of Essar Power Jharkhand Limited (EPJL) after the sole bidder for the company refused to furnish a performance bank guarantee after bidding for the power plant. EPJL had planned […]
The National Company Law Tribunal (NCLT) has ordered the commencement of the corporate insolvency resolution process for the grounded South Indian low-cost air carrier Air Costa. The airline is the second private airline after Jet […]
PTC Financial Services (PFS) is setting up India’s first infrastructure development debt fund, solely for renewable energy projects, in partnership with UK Climate Investments LLP (UKCI) and the Department for International Development (DFID), UK. The […]
The Jet Airways’ board approved a resolution plan for the cash-strapped airline on February 14, 2019, to meet a funding gap of Rs 85 billion through a mix of equity infusion, converting debt into equity, […]
Aditya Birla Asset Reconstruction Company [ARC] Limited has agreed to acquire part of the debt that RattanIndia Power Limited owes its lenders for a 1,350 MW thermal power plant in Amaravati. The deal is part […]
Reliance Communications (RCOM) has decided to file for insolvency as its lenders have received zero proceeds from its proposed asset monetisation plans even after a period of 18 months. The move comes after RCOM’s asset […]
Private equity (PE) firm Everstone Group has formed an equal JV with British solar power company Lightsource BP to set up a £500 million ($710 million or Rs 46.73 billion) India-focused green energy fund. The […]
The Ministry of Finance is set to revamp the operations of India Infrastructure Finance Company Limited (IIFCL) with the government tasking it with funding projects of social and national importance. Apart from its current role […]
The Uttar Pradesh government plans to raise Rs 120 billion for the 341 km Poorvanchal Expressway. The state government has issued an expression of interest document, stating its intention to raise the requisite funds from […]
Japanese firm Softbank has signed an agreement with China’s Golden Concord Group Limited (GCL) to set up a JV firm in India at an investment of $930 million. The venture will manufacture and sell solar […]
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 […]
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