Company Overview of Abhijeet Group
Abhijeet Group engages in power, mining, roads construction, steel, and ferroalloys businesses in India. The company engages in the development and generation of thermal power, development of coal and iron ore mines, development and construction of highways and infrastructure projects, and development of steel projects. It also produces hi carbon Ferro manganese and hi carbon silico manganese for European and South East Asian Markets. The company is based in Nagpur, India.
39, Ambazari Layout
Nagpur, 440 010
Key Executives for Abhijeet Group
Chairman and Managing Director
Chief Executive Officer of Corporate Ispate Alloys Ltd
Compensation as of Fiscal Year 2014.
Abhijeet Group Key Developments
SBI Subsidiaries Reportedly Put Loans Up For Sale
Dec 1 14
Some subsidiaries of State Bank of India (BSE:500112) (SBI) have put their loans to Abhijeet Group on sale to asset reconstruction companies. People familiar with the development told Financial Express that the total value of assets for sale could not be determined, however, lenders said these companies owed banks INR 79 billion. "Some banks had approached us earlier and now SBI subsidiaries have also reached out to us," an executive at a Mumbai-based asset reconstruction company said. The SBI subsidiaries include State Bank of Travancore (BSE:532191), State Bank of Hyderabad Ltd. and State Bank of Mysore (BSE:532200).
Tata, BHEL May Bid For CPL
Jun 27 14
Tata Sons Limited (Tata) and Bharat Heavy Electricals Ltd. (BSE:500103) (BHEL) are interested in acquisition of Abhijeet Group’s Corporate Power Ltd. (CPL). Lenders' consortium had invited bids for taking over CPL. Tata and BHEL have purchased the tender documents, which is an indication that they may subsequently bid. A source involved in the process stated that the bids have to be submitted by July 7. The bids will be based on the original offer made by SREI Infrastructure Finance Limited (BSE:523756), which had conducted a due diligence following negotiations with CPL. The invitation of bids was preferred because SREI cannot be directly offered the contracts.
India Power Corporation Plans To Acquire Power Plants In Jharkhand
May 29 14
India Power Corporation Limited (NSEI:DPSCLTD) plans to acquire Abhijeet Group's 1,080 megawatt Jharkhand power project. “We have given our Expression of Interest to the Bankers of Abhijeet Group for its power assets in Jharkhand as well as exploring other generating assets for takeover,” Jyoti Poddar, an independent director at India Power, said by email.
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