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Birla Tyres Overview

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Birla Tyres in News

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.

14 Apr 2017

JK Tyre aims to cover 75-80% of 2wheeler tyres market

Vikram Malhotra, Marketing Director, JK Tyre & Industries, said, “We are going all out with our campaign and expect the premium range of tyres to cover 75-80 percent of the domestic two-wheeler tyres replacement market demand.”

16 Mar 2017

ATMA elects Apollo Tyres' Satish Sharma as Chairman

Having completed two decades at Apollo Tyres, Sharma has held important portfolios including that of Chief Marketing Officer and Chief of Indian Operations, before being appointed as the President, APMEA in early 2014.

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