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Time of India
5 days ago
- Business
- Time of India
Lenders approve Uganda-based INSCO's ₹2,257-crore plan for Hindusthan Glass
(You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel A committee of creditors who include State Bank of India , Edelweiss Asset Reconstruction Company and DBS Bank has cleared Uganda-based Independent Sugar Corp's revised resolution plan for bankrupt Hindusthan National Glass HNG ).Under the Supreme Court-approved proposal, Independent Sugar Corp (INSCO) has improved its initial offer by ₹356 crore to ₹2,257 crore. The committee cleared it with 96.16% of votes in favour. INSCO has agreed to pay ₹1,901.5 crore upfront through a mix of equity, quasi-equity and debt. An additional deferred payment of ₹356.3 crore will be made to secured financial creditors over three years, funded from HNG's future cash financial creditors will get ₹2,207 crore, or 66.18% of their admitted claims of ₹3,335 crore. The ₹2,257 crore proposal also covers payment to operational creditors like employees. Letters of support from debt funds for both the upfront payment and working capital needs have been submitted as part of the plan. INSCO has proposed a strategy involving a ₹1,000 crore capital expenditure to turn around HNG's operations. The plan focuses on rebuilding furnaces and upgrading equipment to revive the largest container glass manufacturer.
TimesLIVE
23-05-2025
- Politics
- TimesLIVE
Tanzania releases Ugandan activist at border, Kenyan colleague alleges torture
Tanzania has released the second of two foreign activists who had come to support an opposition leader charged with treason, her organisation said on Friday, after a Kenyan fellow activist said they had both been badly tortured. Ugandan lawyer and activist Agather Atuhaire, who had been in custody since Monday, was abandoned at the border between Tanzania and Uganda, Agora Centre for Research, the Uganda-based rights group that she leads, posted on X. 'We are relieved to inform the public that (Agather) has been found,' it said. On Thursday, Kenyan activist Boniface Mwangi, who was also detained after arriving in Dar es Salaam to attend the first court appearance of Tanzanian opposition leader Tundu Lissu, had been dumped on the Kenyan border. In a post on X, he said the last time he had been held together with Atuhaire was on Tuesday, when he had heard her groaning in pain after being tortured. Reuters could not reach Atuhaire directly. 'Our (torturers) were acting on orders from a 'state security' employee who came to immigration offices and followed us to Central police station and ordered we should be taken to a secret location to be given a 'Tanzanian treatment',' Mwangi said. Tanzanian officials had not commented on Atuhaire and Mwangi's detentions specifically, but President Samia Suluhu Hassan warned foreign activists in public comments on Monday against 'invading and interfering in our affairs'. Lissu, who came second in Tanzania's last presidential poll, was arrested last month and charged with treason over what prosecutors said was a speech calling on the public to rebel and disrupt elections due in October. The case has highlighted a crackdown on opponents of Hassan, whose party has nominated her to stand again. She won plaudits after coming to power in 2021 for easing the political repression that had proliferated under her predecessor, but has faced mounting criticism over a series of arrests and unexplained abductions and killings of political opponents. Hassan has said the government is committed to respecting human rights, and ordered an investigation into reported abductions last year. Spokespeople for Tanzania's government, police force and immigration service did not respond to repeated requests for comment about Mwangi's allegations of torture.
Yahoo
23-05-2025
- Politics
- Yahoo
Tanzania releases Ugandan activist at border, Kenyan colleague alleges torture
KAMPALA (Reuters) -Tanzania has released the second of two foreign activists who had come to support an opposition leader charged with treason, her organisation said on Friday, after a Kenyan fellow activist said they had both been badly tortured. Ugandan lawyer and activist Agather Atuhaire, who had been in custody since Monday, was abandoned at the border between Tanzania and Uganda, Agora Centre for Research, the Uganda-based rights group that she leads, posted on X. "We are relieved to inform the public that (Agather) has been found," it said. On Thursday, Kenyan activist Boniface Mwangi, who was also detained after arriving in Dar es Salaam to attend the first court appearance of Tanzanian opposition leader Tundu Lissu, had been dumped on the Kenyan border. In a post on X, he said the last time he had been held together with Atuhaire was on Tuesday, when he had heard her groaning in pain after being tortured. Reuters could not reach Atuhaire directly. "Our (torturers) were acting on orders from a 'state security' employee who came to Immigration offices and followed us to Central Police Station and ordered we should be taken to a secret location to be given a 'Tanzanian treatment'," Mwangi said. Tanzanian officials had not commented on Atuhaire and Mwangi's detentions specifically, but President Samia Suluhu Hassan warned foreign activists in public comments on Monday against "invading and interfering in our affairs". Lissu, who came second in Tanzania's last presidential poll, was arrested last month and charged with treason over what prosecutors said was a speech calling on the public to rebel and disrupt elections due in October. The case has highlighted a growing crackdown on opponents of Hassan, whose party has nominated her to stand again. She won plaudits after coming to power in 2021 for easing the political repression that had proliferated under her predecessor, but has faced mounting criticism over a series of arrests and unexplained abductions and killings of political opponents. Hassan has said the government is committed to respecting human rights, and ordered an investigation into reported abductions last year. Spokespeople for Tanzania's government, police force and immigration service did not respond to repeated requests for comment about Mwangi's allegations of torture.
Straits Times
23-05-2025
- Politics
- Straits Times
Tanzania releases Ugandan activist at border, Kenyan colleague alleges torture
FILE PHOTO: Kenyan social-political activist Boniface Mwangi speaks during a Reuters interview before the screening of the Kenyan documentary 'Softie' at the Prestige Cinema in Nairobi, Kenya October 16, 2020. Picture taken October 16, 2020. REUTERS/Thomas Mukoya/File Photo KAMPALA - Tanzania has released the second of two foreign activists who had come to support an opposition leader charged with treason, her organisation said on Friday, after a Kenyan fellow activist said they had both been badly tortured. Ugandan lawyer and activist Agather Atuhaire, who had been in custody since Monday, was abandoned at the border between Tanzania and Uganda, Agora Centre for Research, the Uganda-based rights group that she leads, posted on X. "We are relieved to inform the public that (Agather) has been found," it said. On Thursday, Kenyan activist Boniface Mwangi, who was also detained after arriving in Dar es Salaam to attend the first court appearance of Tanzanian opposition leader Tundu Lissu, had been dumped on the Kenyan border. In a post on X, he said the last time he had been held together with Atuhaire was on Tuesday, when he had heard her groaning in pain after being tortured. Reuters could not reach Atuhaire directly. "Our (torturers) were acting on orders from a 'state security' employee who came to Immigration offices and followed us to Central Police Station and ordered we should be taken to a secret location to be given a 'Tanzanian treatment'," Mwangi said. Tanzanian officials had not commented on Atuhaire and Mwangi's detentions specifically, but President Samia Suluhu Hassan warned foreign activists in public comments on Monday against "invading and interfering in our affairs". Lissu, who came second in Tanzania's last presidential poll, was arrested last month and charged with treason over what prosecutors said was a speech calling on the public to rebel and disrupt elections due in October. The case has highlighted a growing crackdown on opponents of Hassan, whose party has nominated her to stand again. She won plaudits after coming to power in 2021 for easing the political repression that had proliferated under her predecessor, but has faced mounting criticism over a series of arrests and unexplained abductions and killings of political opponents. Hassan has said the government is committed to respecting human rights, and ordered an investigation into reported abductions last year. Spokespeople for Tanzania's government, police force and immigration service did not respond to repeated requests for comment about Mwangi's allegations of torture. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
The Star
23-05-2025
- Politics
- The Star
Tanzania releases Ugandan activist at border, Kenyan colleague alleges torture
FILE PHOTO: Kenyan social-political activist Boniface Mwangi speaks during a Reuters interview before the screening of the Kenyan documentary 'Softie' at the Prestige Cinema in Nairobi, Kenya October 16, 2020. Picture taken October 16, 2020. REUTERS/Thomas Mukoya/File Photo KAMPALA (Reuters) -Tanzania has released the second of two foreign activists who had come to support an opposition leader charged with treason, her organisation said on Friday, after a Kenyan fellow activist said they had both been badly tortured. Ugandan lawyer and activist Agather Atuhaire, who had been in custody since Monday, was abandoned at the border between Tanzania and Uganda, Agora Centre for Research, the Uganda-based rights group that she leads, posted on X. "We are relieved to inform the public that (Agather) has been found," it said. On Thursday, Kenyan activist Boniface Mwangi, who was also detained after arriving in Dar es Salaam to attend the first court appearance of Tanzanian opposition leader Tundu Lissu, had been dumped on the Kenyan border. In a post on X, he said the last time he had been held together with Atuhaire was on Tuesday, when he had heard her groaning in pain after being tortured. Reuters could not reach Atuhaire directly. "Our (torturers) were acting on orders from a 'state security' employee who came to Immigration offices and followed us to Central Police Station and ordered we should be taken to a secret location to be given a 'Tanzanian treatment'," Mwangi said. Tanzanian officials had not commented on Atuhaire and Mwangi's detentions specifically, but President Samia Suluhu Hassan warned foreign activists in public comments on Monday against "invading and interfering in our affairs". Lissu, who came second in Tanzania's last presidential poll, was arrested last month and charged with treason over what prosecutors said was a speech calling on the public to rebel and disrupt elections due in October. The case has highlighted a growing crackdown on opponents of Hassan, whose party has nominated her to stand again. She won plaudits after coming to power in 2021 for easing the political repression that had proliferated under her predecessor, but has faced mounting criticism over a series of arrests and unexplained abductions and killings of political opponents. Hassan has said the government is committed to respecting human rights, and ordered an investigation into reported abductions last year. Spokespeople for Tanzania's government, police force and immigration service did not respond to repeated requests for comment about Mwangi's allegations of torture. (Reporting by Elias Biryabarema; Editing by Aaron Ross, Hereward Holland and Kevin Liffey)
