Birla Tyres Overview

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Birla Tyres in News

06 Jan 2024

NCLAT dismisses Kesoram's appeal in Birla Tyres insolvency case

Kesoram Industries' appeal against the National Company Law Appellate Tribunal's Kolkata ruling rejected its claim of being a financial creditor of Birla Tyres Ltd. The tribunal ruled that Kesoram failed to prove the transaction was a deposit or loan, and therefore, the adjudicating authority did not commit any error in rejecting the appellant's application.

07 Nov 2023

Birla Tyres to invest INR 250cr in passenger radial segment

The chairman and MD of Himadri Chemicals, Anurag Choudhary pointed out that in the next year, its passenger radial will hit the market along with other products. Choudhury also indicated that rather than going for original equipment tie-ups with automobile manufacturers it would now concentrate on the high-margin replacement market.

23 Oct 2023

Bankruptcy court approves Himadri-Dalmia plan for Birla Tyres

The bankruptcy court has approved the proposal for Himadri Speciality Chemical and Dalmia Bharat Refractories to acquire Birla Tyres. The company has admitted liabilities of over INR 1,662 crore. The consortium plans to focus on niche spaces such as electric vehicle (EV) and specialty tyres. They also aim to achieve forward integration for their business and explore the use of clean and green power for Birla Tyres' power requirements.

28 Sep 2023

The story of a INR 1,788 crore fine: Tyre makers, cartelisation and calculation errors

The Supreme Court of India has asked the Competition Commission of India (CCI) for a response regarding an appeal filed by MRF Ltd, one of the companies fined in a case related to alleged cartelisation and price manipulation in the tyre industry. The case, which began over a decade ago, saw the CCI impose penalties on several tyre companies in 2018. However, the National Company Law Appellate Tribunal overturned the order in December 2022 and directed the CCI to pass a fresh order, citing errors in calculation and the need to save the domestic tyre industry.

29 Aug 2023

Dalmia Bharat draws closer to taking over Birla Tyres

Dalmia Bharat group is set to acquire Birla Tyres after creditors approved their resolution plan. The plan proposes partial repayment of INR 1,100 crore of bank loans of the BK Birla group company. The resolution offer made by Dalmia Bharat Refractories was cleared by over 75% of creditors of Birla Tyres.

20 Aug 2023

Dalmia Group submits revised debt resolution plan for Birla Tyres

A person familiar with the new plan told ET that group companies of Dalmia Bharat have offered to repay about ₹300 crore of the outstanding loans of Birla Tyres. This is said to be three times their original offer to creditors. Birla Tyres competes in the commercial vehicle and two-wheeler tyres segments.

02 May 2023

Dalmia Bharat, Ruia Co in fray for Birla Tyres

​​Lenders received two binding offers - one from a consortium led by Stephens Financial Services in partnership with Melrose Creations, and the other from Dalmia Bharat Refractories.

13 May 2022

Birla Tyres may move NCLAT

The application, filed by SRF Limited under section 9 of the Insolvency and Bankruptcy Code for initiating Corporate Insolvency Resolution Process (CIRP) against Birla Tyres Limited, was admitted at the NCLT Kolkata on May 5.

29 Jan 2022

Birla Tyres to demerge its passenger car radial biz

Manjushree Khaitan-led BK Birla group firm Birla Tyres (BTL) will demerge its passenger car radial business into a separate company — Birla Tyre Radials. Birla Tyres was demerged from group flagship Kesoram Industries in 2018 as part of debt restructuring process.

13 Nov 2019

Kesoram gets NCLT nod to demerge tyre business

The B K Birla group company decided to demerge its tyre vertical into a separate entity - Birla Tyres Ltd - to create and unlock value for both the businesses. Outstanding debt of Rs 3,000 crore will also be split between the two entities. While Kesoram Industries will retain Rs 2,000 cr of debt, the new tyre entity would be servicing Rs 1,000 cr of debt.

08 Nov 2019

Kesoram may form subsidiary of passenger radial

B K Birla group flagship Kesoram is looking at creating a subsidiary of Birla Tyres after its demerger as separate entity. It will be for passenger car radial. The strategic partner is likely to be inducted in to this subsidiary with 50% stake. Kesoram CEO P Radhakrishnan told TOI that there is considerable interest for the passenger car radial unit which is under construction in Balasore.

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