Panyam Cement's revival plan receives NCLT nod

28 Jun 2021 CW Team

The Amaravati bench of the National Company Law Tribunal (NCLT) has approved the resolution plan submitted to run the Panyam Cement factory in Kurnool, Andhra Pradesh, and has allowed the now-defunct unit to reopen. By paying Rs 100 cr to clear loan dues created by the old management, the new management, RV Consulting Services Company, and Sagar Power Limited would jointly take over the cement company. The new management will also inject Rs 150 crore in new capital to run the company.

The plan was approved by the creditors' committee, and the NCLT followed suit.

NCLT acting president BP Mohan said the cement factory was critical for 5,000 families who rely on it directly and indirectly and directed state and federal officials to ensure that the company received the necessary approvals and that its mining leases and licences were renewed.

The National Company Law Tribunal is an Indian judicial body that hears cases involving Indian corporations. Under the Insolvency and Bankruptcy Code, 2016, the National Company Law Tribunal is the adjudicating authority for the insolvency resolution process of companies and limited liability partnerships.

Image Source

Also read: DHFL resolution: NCLT asks lenders to consider Kapil Wadhawan’s offer

Infrastructure Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..