Latest news with #NSUNDARESHASUBRAMANIAN
Time of India
13-06-2025
- Business
- Time of India
INR1,300 crore loans for INR100? Stamp duty notice to ArcelorMittal, banks.
INR1,300 crore loans for INR100? Stamp duty notice to ArcelorMittal, banks. Getty Images Synopsis ArcelorMittal India has been called for enquiry this month over allegations of stamp duty irregularities. Creditors of KSS Petron, a group company, have alleged irregularities in stamp duty payment in assignment of loans in the run up to its acquisition of Essar Steel under the IBC. By N SUNDARESHA SUBRAMANIAN 4 Mins Read, Jun 13, 2025, 05:55 PM IST SHARE THIS NEWS Close Font Size Abc Small Small Abc Normal Normal Abc Large Close A stamp duty dispute has erupted around a 2018 financial transaction involving global steel giant ArcelorMittal and a group of banks. The Collector of Stamps of Mumbai under Maharashtra government has issued a notice for enquiry over alleged irregularities in payment of stamp duty on a loan assignment transaction dating back to 2018. In October 2018, a group of lenders of KSS Petron (KSSPL) led by the State bank of India (SBI) had assigned dues
Time of India
15-05-2025
- Business
- Time of India
Explainer: Strata, the Reit that was not to be
Explainer: Strata, the Reit that was not to be Sudharshan Lodha, co-founder and CEO of Strata Property Management Synopsis Bengaluru-based Strata Small and Medium Real Estate Investment Trust has surrendered its licence. While Sebi has advised investors to exercise caution while dealing with the entity, many questions remain unanswered. By N SUNDARESHA SUBRAMANIAN 4 Mins Read, May 15, 2025, 06:28 PM IST SHARE THIS NEWS Close Font Size Abc Small Small Abc Normal Normal Abc Large Close In an unusual public notice published on Wednesday, market regulator Securities and Exchange Board of India (Sebi) announced that Bengaluru-based Strata Small and Medium Real Estate Investment Trust (SM Reit) had surrendered its licence and advised investors to exercise caution while dealing with the entity. SM Reit is a new segment introduced by the regulator only last year, and Strata was among one of the promising players. Although Strata was
Time of India
30-04-2025
- Business
- Time of India
How this South Delhi five-star was steeply undervalued to win a favorable deal from lenders
How this South Delhi five-star was steeply undervalued to win a favorable deal from lenders Illustration by Sadhana Saxena via AI. Synopsis In 2021, the Hyatt Regency property was valued at INR2,600 crore while seeking a post-Covid restructuring from the lenders. But three years later, when a one-time settlement was proposed to the banks, the same property was valued at less than INR1,000 crore. How? By N SUNDARESHA SUBRAMANIAN 8 Mins Read, May 01, 2025, 04:55 AM IST SHARE THIS NEWS Close Font Size Abc Small Small Abc Normal Normal Abc Large Close This is a classic tale of 'heads I win, tails you lose'. At the receiving end, there were a couple of public-sector lenders, as an iconic landmark on a busy South Delhi stretch was given two divergent valuations in just a matter of a few years. The property in question is Hyatt Regency, the popular five-star hotel at New Delhi's Bhikaji Cama Place. It has been valued at less than INR1,000 crore for a one-time settlement (OTS) of loans from
