Gupta Coal Managing Director Piyush Marodia not allowed to go abroad

Gupta Coal Managing Director Piyush Marodia not allowed to go abroad

The Debts Recovery Tribunal (DRT) has rejected the application of Piyush Marodia, managing director of Gupta Coal, seeking permission to travel to Singapore. The company has taken a loan of Rs 58.89 crore from State Bank of India (SBI) and is unable to repay it. DRT has impounded the passport of all the directors of Gupta Coal. DRT presiding officer Chikkam Vijay […]

SBI Moves NCLT Against East Coast Energy

SBI Moves NCLT Against East Coast Energy

State Bank of India (SBI) has moved the National Company Law Tribunal (NCLT) against independent power producer East Coast Energy Pvt Ltd (ECEPL), which suffered project execution delays owing to funds constraints.

Lenders clear Rs 86,000-cr Essar Oil-Rosneft deal

Lenders clear Rs 86,000-cr Essar Oil-Rosneft deal

A consortium of 23 lenders led by State Bank of India today cleared the Rs 86,000-crore sale of Essar Oil to Russia’s Rosneft-led group after the Ruias agreed to clear a part of the Rs 26,000-crore loans, including that of Life Insurance Corporation.