Hinduja Group

SC decision on Torrent plea key to transaction

Upfront payment proposed; Torrent, Oaktree skip

Deadline for resolution process ends on April 16; matter goes under litigation as one bidder moves court

Hinduja Group flagship Ashok Leyland has reported a 19 per cent rise in its sales in domestic and overseas markets at 23,926 units, the company said on Monday. The city-based heavy commercial vehicle maker had sold 20,123 units in the corresponding month of last year. Cumulative sales made by the auto major till March 2023 grew by 50 per cent to 1,92,205 units from 1,28,326 units sold in the corresponding period of last year, Ashok Leyland said in a statement. Total sales of medium, heavy and light commercial vehicles sold in March in the domestic market grew by 23 per cent to 22,885 units from 18,556 units sold in the same month of last year. Cumulative sales of medium, heavy and light commercial vehicles till March in the domestic market grew by 54 per cent to 1,80,916 units from 1,17,312 units made last year, the company said.

The decision to hold a second auction was decided on Monday in a formal meeting of the CoC

The revised Hinduja stand has put Indian lenders, with an exposure of Rs 24,000 crore, in a spot as it was the Hindujas offer which led to a call for second auction and litigation by the other bidder

Aditya Birla Group, a family business and 7 generations old, has a presence in various sectors, including metals, financial services, and retail

Torrent may move Supreme Court against rebidding

Ashok Leyland, the flagship company of the Hinduja Group and commercial vehicle major, is all set to come out with the electric versions of light commercial vehicles Bada Dost and Dost this year

Hinduja group is planning to raise its stake in the private sector lender from 15 per cent to 26 per cent with an investment of Rs 10,000 crore

The Hinduja group has also offered to take over Reliance Capital for Rs 9,000 crore, but its offer is facing litigation from its rival bidder Torrent

The matter is reserved for judgment and the NCLT Bench mentioned that the order will be issued next week

Through the telematics-driven connected network, the company helps vehicles on the ground in predicting problems along with quick support in case of breakdowns to AI-based customer solutions

Hinduja group flagship Ashok Leyland has showcased seven advanced mobility solutions at the Auto Expo 2023 in New Delhi, the city-based heavy commercial vehicle-maker said on Wednesday

During the auction, Hinduja made an offer of Rs 8,110 crore, but raised it to Rs 9,000 crore and offered 100 per cent upfront cash to the lenders

HLF is undergoing a reverse merger, which will help it get listed soon. The company also mobilised Rs 910 crore fresh capital from QIBs in October 2022, and improved its capital adequacy

The Committee of Creditors will meet on January 3 to take a view on the new twist in the case

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CoC decide whether Hinduja offer is legally valid or not as e-auction has ended

The buyback size represents 24.15 per cent and 13.19 per cent of the aggregate of the company's fully paid-up equity share capital and free reserves