The Yogi Adityanath government is set to mark a significant milestone with the groundbreaking ceremony (GBC) 4.0 scheduled for February 19, as this event will herald the launch of numerous investment projects across the state, signaling a robust economic boost.
Over 52 per cent of these projects
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The Indian bankruptcy court has approved the acquisition of steel maker Mittal Corp Ltd by Shyam Metalics and Energy Ltd. The successful bidder, Shyam Sel and Power Ltd, will pay Rs 351 crore, resulting in a 20% recovery for all creditors. The financial creditors claim of Rs 1,587 crore will receive Rs 348.7 crore. The lenders had previously approved the revival plan with 100% voting in favor of Shyam Sel and Power.
The NCLAT said the NCLT did not commit any error as sales were not completed and the object was to obtain the maximisation of the assets, hence it sees no reason to take a different view .