Yes Bank said with this recovery, it now has an exposure to only one account, aggregating to only Rs 23.85 apiece on BSE."Yes Bank has recovered an amount of Rs 184 crore against an original claim filed for Rs 325 crore pursuant to the sale of Bhushan Steel to Tata Steel Limited under the recently concluded NCLT/Insolvency and Bankruptcy Code (IBC) proceedings," Yes Bank said in a BSE filing. Total recoveries (against claims of Rs 325 crore) is Rs 216 crore (66 per cent), it said.4 crore (with 50 per cent provision) as on March 31, 2018, from borrowers referenced in the first list of the RBI IBC NCLT process.Tata Steel had won the bid to acquire debt-laden Bhushan Steel in an insolvency auction.25 per cent lower at Rs 333.. Shares of Yes Bank were trading 0.New Delhi: Private sector lender Yes Bank has recovered 66 per cent of the original claim filed for Rs 325 crore after the sale of Bhushan Steel to Tata Steel under the insolvency resolution process.In June last year, RBIs internal advisory committee (IAC) identified 12 accounts, each having more than Rs 5,000 crore of outstanding loans and accounting for 25 per cent of total NPAs of banks. Yes Bank said write back of roofing screw for sale provisions consequent to the above recoveries were Rs 36 crore.Earlier, it had recovered Rs 32 crore through sale of pledged shares.

5 per cent, according to two sources and a government document reviewed by Reuters, as the country looks to support the rupee.The steel and trade ministries did not immediately respond to requests seeking comment.New Delhi: India’s steel ministry has proposed increasing the effective import duty on some steel products to 15 per cent from current rates ranging from 5 per cent to 12.In calendar 2017, India imported more than 7 million tonnes of steel from countries including South Korea, Japan and China.In the three months to end-June, India became a net steel importer for the first time in two years, with foreign supplies reaching 2.The source said there was no certainty that the proposed duty would be imposed.1 million tonnes, up 15 per cent from a year earlier, according to official data..The proposal, which is part of a broader government plan to cut “non-necessary” imports to stop an outflow of dollars China self drilling screw for sale that has sent the rupee to record lows, will be discussed in the trade ministry on Wednesday, according to one of the sources involved in the matter.“The broader message is to address the trade balance but we will try to promote ‘Make in India’ by encouraging domestic (steel) production,” said the source, who declined to be named ahead of a possible decision.

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3 million units.. Almost a month back a meeting was called by Niti Aayog wherein both companies were asked to firm up their joint venture agreement, the official said. "Both the companies had issues, including pricing mechanism for raw material," the official added. The JV will also focus on producing specialised grade steel products for defence, space and automobiles. It will construct a cold rolling mill and other downstream finishing facilities in India, touted as one of the fastest-growing automotive markets in the world with production expected to double between 2014 and 2020, from 3. The government had earlier said that the proposed auto- chipboard screw yzp distributors grade steel plant would be set up close to an automobile hub. "A consensus on signing of the joint venture may be reached in two months," the official said. A task force team comprising representatives from both SAIL and ArcelorMittal has been working on detailed due diligence and preliminary feasibility study and all other issues for setting up the joint venture company. SAIL and ArcelorMittal had in May, 2015 entered into a memorandum of understanding (MoU) to explore the possibility of setting up an auto-grade steel manufacturing facility under a joint venture in India.New Delhi: Consensus on signing the JV deal between SAIL and ArcelorMittal for an auto-grade steel plant is likely in two months at the instance of think tank Niti Aayog, an official said. The countrys largest steel maker had sought help from Niti Aayog to resolve differences with ArcelorMittal over setting up of Rs 5,000-crore steel plant.6 million units to.

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While Bhushan Steel is in default of Rs 44,478 crore to banks, Essar Steel owes Rs 37,284 crore and Electrosteel Steels Rs 10,273. If a plan is not decided, then the company will go into liquidation.Officials from these three companies were also present at the meetings, bankers said.Besides these three accounts, the other stressed borrowers include Amtek Auto (Rs 14,074 crore), Alok Industries (Rs 22,075 crore), Monnet Ispat (Rs 12,115 crore) and Lanco Infra (Rs 44,364.6 crore.4 crore), Jaypee Infratech (Rs 9,635 crore), ABG Shipyard (Rs 6,953 crore) and Jyoti Structures (Rs 5,165 crore) were also among the identified stressed accounts, according to reports.6 crore).Bankers, led by IDBI Bank, will be meeting on Friday to decide on Bhushan Power & Steel which has been in default of Rs 37,248 crore to the lenders.“The meeting on these three companies was to finalise the application which banks will be filing to NCLT,” said a banker.Lenders want all the bankers in the consortium to give their consent before registering the case with NCLT.Once a case is referred to NCLT, there is a 180-day time line to decide on a resolution plan though 90 days can be given in addition.These three borrowers are among the 12 China chipboard screw din 7505 wholesale accounts identified by RBI for immediate reference to National Company Law Tribunal (NCLT). These 12 accounts alone constitute a quarter of the over `8 trillion of NPAs. The development couldn’t be immediately confirmed with these companies.Mumbai: Lenders led by SBI on Thursday decided to begin insolvency proceedings against Bhushan Steel, Essar Steel and Electrosteel Steels by referring them to the NCLT for recovery under the Insolvency and Bankruptcy Code (IBC).. Era Infra (Rs 10,065.The decision was taken at a marathon meeting chaired by the SBI.On Saturday, Lanco Infratech said the RBI has directed its lead banker IDBI Bank to initiate insolvency procedure for the company.

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