Jaicorp's Virendra Jain secures top bid for Kamachi Industries

06 Feb 2024 CW Team

Jaicorp?s Vice Chairman Virendra Jain and his son Ankit Jain have reportedly become the top bidders for Kamachi Industries, a Chennai-based steel maker undergoing liquidation due to a failed insolvency resolution process.

The father-son duo expressed their interest in acquiring the company as a going concern, with their bid amounting to Rs 4.87 billion under a National Company Law Tribunal (NCLT)-monitored process initiated by the State Bank of India in February 2020.

Kamachi Industries, which defaulted on loans amounting to Rs 22 billion from a consortium of five public sector banks, specialises in the production of thermo-mechanically-treated (TMT) bars utilised in the construction industry.

For the Jains? bid to be successful and lead to the company's acquisition, they are required to make milestone-linked payments within the next 30 days and obtain approval from NCLT, as per the sources cited earlier.

It was reported on December 8 that Virendra Jain has also submitted a bid for Rolta India, a defence-focused software company currently undergoing insolvency proceedings.

Kamachi Industries boasts a fully integrated facility, comprising a sponge iron division, a rolling mill division, and a steel melting division. Additionally, the company has a captive power plant.

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..