PSL’s two overseas subsidiaries - PSL USA Inc, a wholly owned subsidiary and PSL North America LLC, a subsidiary and joint venture of the company, has received an order from the United States Bankruptcy court, which has authorized and approved the sale of substantially all of PSL North America LLC’s assets to Jindal Tubular USA LLC in accordance with the terms of the Asset Purchase Agreement, free and clear of all liens, claims, encumbrances and other interest.
The bankruptcy Court of district of Delaware USA has also approved the assumption and assignment of contracts; and entering into ancillary agreement along with granting related relief. The sale of the aforesaid subsidiaries of PSL through bankruptcy proceeding is now complete.
The company’s subsidiaries had earlier on June 30, 2014, filed Chapter 11 proceedings in the relevant Courts in USA. This step had been taken in view of continuous losses in the following said two overseas subsidiaries. Chapter 11 is a chapter of Title 11 of the United States Bankruptcy Code, which permits reorganization of a debtor’s business affairs and assets under the bankruptcy laws of the United States.
PSL is India’s largest producer / manufacturer of HSAW pipes, the line-pipe industry's preferred pipe, with production capacity in excess of the 1 MT mark.
| Company Name | CMP |
|---|---|
| JSW Steel | 917.00 |
| Tata Steel | 183.60 |
| SAIL | 151.10 |
| Jindal Stainless | 807.55 |
| Jindal Saw | 556.15 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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