Bifr

Even as the number of cases filed under the corporate insolvency process keeps rising, liquidation occurs more often

Bajaj Electricals to shut down manufacturing unit at Kosi

The board of directors of the company at its meeting today reviewed the performance/operations of the GLS bulbs and tube lights manufacturing unit at Kosi, Mathura, Bajaj Electricals said in a BSE filing.

Khaitan Elec approaches BIFR to declare as sick unit

On May 28, 2016, Khaitan Electricals had informed that its accumulated losses had exceeded the net worth as on March 31, 2016 and therefore it has become a sick industrial company.

USL seeks shareholders nod to report sick to BIFR

In a notice to the shareholders for an EGM on January 22, United Spirits said, as per the audited annual accounts for the fiscal ended March 31, "the accumulated losses of the company as at March 31, 2015 is 86 percent of its peak net worth during the four financial years preceding the financial year ended March 31, 2015".

USL says networth fell 50% in 4 yrs, seeks BIFR protection

United Spirits (USL) has called an Extraordinary General Meeting of its shareholders on January 22, 2016.

Lumax Auto up 15% on JV with Italian co for defence space

"Lumax announced its entry into the Indian aerospace and defence sector by formation of it‘s new joint venture with SIPAL S.p.A of Italy (part of the Turin based euro 240 million FININC S.p.A. group)," says the New Delhi-based and DK Jain Group company in its filing.

Zenotech Labs turns sick, files with BIFR; stock sinks 5%

"The company has been registered as a "sick industrial company" with the Board for Industrial and Financial Reconstruction (BIFR)," it said in its filing to exchange.

Cos look at India as a positive source of investment: KPMG

John Veihmeyer, global chairman, KPMG says it is not just about how fast India is growing. It is about India‘s contribution to the rest of the network in terms of resources, thought leadership and number of things that are helping it be a major source of innovation

Arun Jaitley Budget: Govt to bring 'Bankruptcy Code' for ease of doing biz

In a bid to improve the ease of doing business environment in the country, Finance Minister Arun Jaitley on Saturday said the government will unveil a comprehensive Bankruptcy Code in the current fiscal.

2 JVs to be formed for Talcher urea plant revival in Odisha

State-owned Coal India Ltd, gas utility GAIL India and fertiliser majors RCF and FCIL will form two Joint Ventures this month for revival of Talcher urea plant in Odisha at a cost of Rs 8,200 crore.

Haldia Petrochemicals' networth erodes by 50%

After a board meeting and EGM of HPL on Friday, chairman of the company and state Industry Minister Partha Chatterjee said every step would be taken to prevent the company from going to the Board for Industrial and Financial Reconstruction (BIFR).

Revised scheme for capital goods sector in the works: Govt

The government today said a revised scheme for enhancement of competitiveness in the capital goods sector,' which includes machine tools segment, is being formulated.

Ford India's networth declines 50% in FY11

Ford India's networth has sharply declined in the financial year ending March 31, 2011 making it a "potentially sick" firm under the Sick Industrial Companies Act 1985.

IGL versus PNGRB: Delhi HC says final hearing next Thursday

Indraprastha Gas moved the Delhi High Court against the regulator's move to order a steep cut in gas prices in Delhi, reports CNBC-TV18's Nayantara Rai.

BIFR to meet on Sep 7 to discuss ITI fund infusion plan

ITI touched an intraday high of Rs 27 and an intraday low of Rs 24.45. At 11:51 hrs the share was quoting at Rs 25.20, up Rs 1.55, or 6.55%. According to sources BIFR will meet on September 7 to discuss ITI fund infusion plan, reports CNBC-TV18, quoting NewsWire18.

127 mills employing 41,118 people shut in past 3 yrs: Govt

Over 125 textile mills providing employment to 41,118 people have been shut down in the past three years on account of restrictions on cotton yarn exports and piling up of huge inventories, Parliament was informed today.

Essel Propack to acquire two cos; aims 17% growth in FY12

According to Ashok Goel, vice chairman and managing director of Essel Propack, "RPLL, REL are perennially sick companies, and the merger will assure the companies get oxygen to survive. Also, this will add 160 million tubes capacity, which ensures that Essel Propack is on growth path."

VIP Industries confident of achieving strong topline growth

Dilip G Piramal, Chairman, VIP Industries in an interview with CNBC-TV18 spoke about the latest happenings in the company and the road ahead.

Analysed 2 models, had qualms on execution: Fertilizer Secy

Fertilizer secretary Sutanu Behuria said the CoS had not submitted their report yet and expected the same to come within the next two months. "We have looked at two models but we had some reservations on its implementation. Thus, we are trying to do a few changes and see what we come up with."