Stock News and Filings Feed
Corporate credit growth in the Indian economy has gone down to mid-single digits owing to high percentage of NPAs in Public Sector Banks.
"Anti-dumping duty on coke is hurting our revival despite prices of ferro alloy has gone up by 80 to 100 per cent. The duty has come as a fatal blow to the industry when costs have jumped three to four times since last one year," Rohit Ferro-Tech managing director Ankit Patni said here today.
According to an official filing before the BSE and NSE, substantial amount of statutory dues amounting to Rs 23.69 crore is overdue and is still unpaid.
The board of Rohit Ferro-Tech will meet on Tuesday to consider executing a deed of undertaking in favour of State Bank of India for sale of its manufacturing unit at Bishnupur, Haldia. On Tuesday, the company had informed the exchanges that the board was set to discuss executing a similar undertaking for SBI to sell its units in Jajpur, Odisha. On March 24, Rohit Ferro-Tech’s board had approved issuing at least 51 per cent of the company’s equity to its lenders as part of a strategic debt restructuring.