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NCLT approves Tata Steel Mining's resolution plan for Rohit Ferro-Tech

Tata Steel on Thursday said the Kolkata bench of the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by its whollyowned subsidiary Tata Steel Mining Limited, for the acquisition of debtladen Rohit Ferro-Tech Limited.

On June 6, 2021, Tata Steel had informed that the Committee of Creditors (CoC) in terms of the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code 2016, declared Tata Steel Mining Limited as the successful resolution applicant for the acquisition of Rohit Ferro-Tech Ltd, subject to necessary regulatory approvals including approval from the NCLT Kolkata bench.

Bharatpe CEO apologises for salary remark; firm says March salary paid

Fintech firm Bharatpe CEO Suhail Sameer on Thursday apologised for his remarks in a social media post allegedly indicating that former company chief Ashneer Grover has stolen money from the company and little is left to pay the salaries of employees. A Bharatpe employee in a Linkedin post had raised the matter of termination of administrative staff and non-payment of salaries, which attracted responses from Grover and CEO Sameer.

SpiceJet's Ajay Singh granted interim protection in fraud case

The Delhi High Court on Thursday granted interim protection from arrest to SpiceJet promoter Ajay Singh in a case of an alleged fraud related to the transfer of shares of the airline to certain individuals.

"No coercive action till the next date of hearing," said Justice Anoop Kumar Mendiratta who listed Singh's anticipatory bail application in the case for further consideration on May 24. The court directed Singh to join the investigation and keep the disputed shares frozen in the meantime.

Tata Memorial Centre inks MoU to improve cancer care in Indonesia

The Tata Memorial Centre (TMC) here has signed a Partnership Agreement of Cancer Patient Navigation Programme to improve cancer care in Indonesia, marking the World Health Day, here on Thursday. The MoU was inked with Dharmais National Cancer Hospital and PT Roche Indonesia, in a virtual ceremony.

India's Mahindra says deal to sell SsangYong Motor to Edison terminated

Indian carmaker Mahindra & Mahindra said on Thursday that a deal to sell its bankrupt unit, SsangYong Motor Co, to South Korean electric carmaker Edison Motors Co had been terminated. The receiver of SsangYong cited Edison's inability to deposit the bid amount for the termination of the deal, Mahindra said in an exchange filing

Coca-Cola to set up second Telangana factory with investment of Rs 1,000 cr

Hindustan Coca-Cola Beverages (HCCB) on Thursday announced that it will set up a second factory in Telangana with an investment of Rs 1,000 crore. The plant for carbonated beverages, juices and water will come up at Food Processing Park at Bandathimmapur in Siddipet district.

The company will invest Rs 600 crore in the plant in the first phase and another Rs 400 crore in the subsequent phases to take the total investment to Rs 1,000 crore in the next five years, said Telangana's minister for industries K.T. Rama Rao at an event with the company leadership.

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