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 Urban

04 May 2026

Jyoti Structures FY26 profit rises 56.5%

Jyoti Structures (JSL) recently reported strong financial results for the quarter and year ended 31 March 2026, driven by disciplined execution, cost management and steady progress across its order book.For Q4 FY2025-26, total income rose 44.2 per cent to Rs 2.41 billion from Rs 1.67 billion in Q4 FY2024-25. EBITDA increased 58.6 per cent to Rs 237 million, while EBITDA margin improved by 89 basis points to 9.84 per cent. Profit before tax grew 53.3 per cent to Rs 188.5 million, and net profit rose 51.9 per cent to Rs 181.4 million.For FY2025-26, total income grew 53.1 per cent to Rs 7.72 bill..

Cat BEPU to Power Doppstadt Separator at IFAT 2026

Caterpillar’s Cat Battery Electric Power Unit (BEPU) has been selected by Doppstadt to power its SWS 6 Spiral Shaft Separator, which will be showcased for the first time at IFAT 2026 in Munich, Germany, from 4–7 May.The compact plug-and-play BEPU is designed to replace a diesel engine within the same space, using the same mounting locations and relative machine position. It integrates the battery, motor, inverter, onboard charging, cooling and controls, enabling OEMs to electrify existing chassis platforms without extensive redesign.Caterpillar and Cat dealer Zeppelin Power Systems have be..

VECV sales rise 6.9% in April 2026

VE Commercial Vehicles, a joint venture between Volvo Group and Eicher Motors, recorded sales of 7,318 units in April 2026, compared to 6,846 units in April 2025, registering 6.9 per cent growth. The total included 7,159 units under the Eicher brand and 159 units under the Volvo brand.Eicher branded trucks and buses reported sales of 7,159 units during the month, up 6.6 per cent from 6,717 units in April 2025. In the domestic commercial vehicle market, Eicher sales rose 8.6 per cent to 6,797 units from 6,257 units a year earlier.Exports declined 21.3 per cent, with VECV recording 362 units in ..