Amtek Auto Case

Bone of contention is long-term lease of ACE Complex Land. Resolution applicant has moved NCLAT, which is likely to start hearing on Thursday against NCLT order

From FM Sitharaman announcing that talks are on with PMO to revive the slowing economy to slowdown in the auto industry, here are the top business headlines for Saturday

Three of Amtek group companies, including Castex Technologies, Amtek Ring Gears and Metalyst Forgings are each undergoing separate insolvency resolution process

Amtek Auto's total debt stands at Rs 12,603 crore, liquidation value of assets nearly Rs 4,120 crore

Deccan Value Investor's bid was second highest with a bid of Rs 3,150 crore

Issue was raised in a hearing related to Indian Overseas Bank's plea against Amtek Auto

Sebi issued a show-cause notice to the rating agency in July

Amtek Auto defaulted on payment of an estimated Rs 800-crore bond

The market regulator has appointed adjudicating officer to probe the case, following which it will decide the nature of action to be taken