Reliance Naval & Engineering Ltd (Rs.3.55) is Now in Safe Hands: NCLT Shouldn't Change its Decision..
Q. 2. So who exactly is #Nikhil #Vasantlal #Merchant and why he holds so much clout that senior ministers and bureaucrats speak of him as a man who can get things done?
Q. Isn't it true that Naveen Jindal, a former Member of Parliament, Lok Sabha from Kurukshetra, Haryana and is currently the Chairman of Jindal Steel and Power Limited, belongs to Indian National Congress, headed by Rahul Gandhi?
Q. Will NCLT shift to the Congress connected Navin Jindal (of JSPL) from the #Blue #Eyed boy of #Narendra #Modi (Nikhil Merchant)?
On March 17, Hazel Mercantile, in partnership with Swan Energy, emerged the winner with 95% of the committee of creditors approving its resolution plan. The lenders later issued a letter of intent terming it the winning bidder.
He is currently a Member of Legislative Assembly in the 14th Gujarat Legislative Assembly or Gujarat Vidhan Sabha (ગુજરાત વિધાન સભા) and has served in the same capacity in the 10th, 11th, 12th and 13th Legislative Assemblies as well. In the Gujarat Legislative Assembly Elections that concluded in 2017, he contested and was directly elected from the constituency of Botad. He has given charge of finance and energy minister of gujarat. [Wikipedia].
Saurabh had held important portfolios such as finance, energy and petrochemicals, and mines and minerals in Gujarat.
News reports suggests Saurabh's "inability" to get along with BJP president Amit Shah. "Saurabh Patel owed his rise to Modi, and Anandiben used him as her main conduit with industry and business. With Amitbhai, his equation is chatis ka aakda (at daggers drawn)," a source said.
Swan Energy has also been a donor to the BJP – making small payments of Rs.2 lakh and Rs 50,000 in 2012-13 – though Merchant now denies this. “I have never ever given any political funding to the BJP,” he told The Wire in an interview.
Swan Energy and Hazel Mercantile are in race to buy Reliance Naval and Engineering Ltd (Rs.3.60).
I feel the lenders and the shareholders will not agree to go with Navin Jindal owned JSPL. Navin Jindal is from the Indian National Congress headed by #Rahul #Gandhi.
The NCLT is not likely to give a judgment in favour of Navin Jindal. Or I would rather request NCLT, to go with the ealier verdict (of allowing the consortium of Hazel Merchant - Swan Energy to take over RNAVAL).
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However, even of it is taken over by Navin Jindal controlled JSPL, it wouldn't be too bad deal, either.
Because, first of all is the strategic location of RNAVAL, since it is port based and the other is that it can be a good outlet for the consumption of company's steel plates.
I reiterate, for JSPL Reliance Naval can be a captive client for the company's shipbuilding plates -- it is already supplying to other shipbuilding companies and for making military equipments.
After takeover, the JSPL, instead of selling plates, can directly sell ships, which will be a big relief to the lenders and other stakeholders.
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