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ultratech: UltraTech, AM Mining, others eye Vadraj Cement

AM Mining India, a joint venture between ArcelorMittal and Nippon Steel, Oaktree Capital-backed India Opportunities XII Investments, and Nirma group-backed Nuvoco Vistas Corporation submitted expressions of interest (EoIs). Naveen Jindal group company called Jindal Panther Cement, and PN Group-promoted CN Infrabuild also gave separate EoIs.
Naveen Jindal Pulkit Gupta Orissa Metaliks Prudent Asset Reconstruction Company Aditya Birla Group Ultratech Aditya Birla Group

NCLT admits Vadraj Cement for insolvency process

Vadraj Cement, previously known as ABG Cement, has been shifted from the Bombay High Court to the National Company Law Tribunal (NCLT) for debt resolution. The NCLT order allows lenders to potentially recover more than half of their dues. Adani Group, UltraTech Cement, and JSW Cement may bid to acquire the debt-laden company.
Chandan Kumar Pulkit Gupta Arcelor Mittal Jc Flowers Asset Reconstruction Company National Company Law Tribunal Bombay High Court

Adani, Jindal Power may join race for Hiranmaye Energy: Sources

Adani Power and Jindal Power are reportedly among the companies expected to express interest in the acquisition of Hiranmaye Energy, a thermal power company that recently entered corporate insolvency. Sources familiar with the matter have indicated that Hiranmaye Energy, formerly known as India Power Corp (Haldia), underwent corporate insolvency proceedings earlier this month following a petition filed by REC.
West Bengal Pulkit Gupta Hemant Kanoria Bhuvan Madan India Power Corp Haldia Power Finance Corp

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