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DHFL resolution: Lenders move NCLAT against Kapil Wadhawan's offer

Reserve Bank of India (RBI)-appointed administrator and the lenders to Dewan Housing Finance (DHFL) have moved National Company Law Appellate Tribunal (NCLAT) against the order of the Mumbai Bench of the National Company Law Tribunal (NCLT) that directed the committee of creditors (CoC) to examine the offer of the erstwhile promoter on merit, said sources. The Piramal Group, whose resolution plan was approved by the lenders, RBI, and Competition Commission of India (CCI), is also likely to file an appeal against the NCLT order in the NCLAT, a source said. However, the group will file an appeal independently. The matter is expected to come up for hearing this week.

Airtel says ready for 5G; deploys additional spectrum in Karnataka, TN

Bharti Airtel on Monday said its network is fully ready for 5G and also announced deployment of additional spectrum in Karnataka and Tamil Nadu to boost network quality. The company has deployed 11.2 Megahertz (Mhz) additional spectrum in Karnataka and 5 Mhz in Tamil Nadu, both in 1800 Mhz band, popularly known as 2G spectrum. "Airtel had acquired the 11.2 Mhz spectrum for Karnataka during the recent auctions conducted by the Government of India. With this fresh spectrum, Airtel has the largest spectrum bank of 68.8 Mhz in Karnataka.

Sanjeev Gupta's Liberty Steel to sell UK plant in restructuring plan

Liberty Steel, the company led by British Indian businessman Sanjeev Gupta, on Monday announced very constructive and productive meetings as part of its ongoing restructuring plans, which will result in the sale of its Stocksbridge plant in south-east England to help pay back lender Credit Suisse. Gupta, who heads the wider Gupta Family Group (GFG) Alliance, and his newly-formed Restructuring and Transformation Committee held advanced discussions with Credit Suisse Asset Management (CS) in Dubai over the weekend to reach a formal standstill agreement on its Liberty Primary Metals Australia business while refinancing is completed that will repay Credit Suisse out in full

Grasim Industries fourth quarter net profit rises 13.3% to Rs 2,616 cr

Aditya Birla Group firm Grasim Industries Ltd on Monday reported a 13.3 per cent rise in its consolidated net profit to Rs 2,616.64 crore for the fourth quarter ended March 31. The company had posted a net profit of Rs 2,309.41 crore during the January-March quarter of the previous financial year, Grasim Industries said in a regulatory filing. Its revenue from operations during January-March 2021 jumped 26.1 per cent to Rs 24,398.92 crore, compared with Rs 19,349.54 crore in the year-ago period.

Barbeque Nation reports net profit of Rs 6 cr in Q4; EBITDA up 128%

Casual dining restaurant chain Barbeque Nation on Monday posted a consolidated net profit of Rs 6.1 crore in the March quarter as against loss of Rs 27 crore in the year-ago period. Its revenue from operations increased 19 per cent to Rs 226 crore for the quarter under review. It was Rs 190 crore in the same quarter last year. The company's operating profit or EBITDA stood at Rs 56 crore, up 128 per cent year-on-year with margins of 24.8 per cent

India Cements posts Rs 43.97 crore net profit in fourth quarter

India Cements on Monday reported a consolidated net profit of Rs 43.97 crore for the fourth quarter ended March 2021, on the back of strong sales. The company -- which has re-appointed N Srinivasan as its Managing Director for five years, subject to the approval of shareholders -- had posted a consolidated net loss of Rs 11.76 YoY

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