The Recycler
  • Katun web banner December 2022 NEW
  • Biuromax Masthead web banner March 2024
  • Ambiente 2025 Masthead
  • G&G Masthead August 2024

Kotak and Karvy bid for Ricoh India

January 18, 2019

Ricoh India’s headquarters

Kotak Investment Advisors and Karvy Data Management Services have submitted bids to acquire Ricoh’s troubled Indian subsidiary.

As the Economic Times reports, the “distressed” Ricoh India has almost Rs 3000 crore ($421.7 million/€369.7 million) in unpaid dues and owes Ricoh Japan and Ricoh Asia Pacific approximately Rs 1,500 crore ($210.8 million/€184.8 million).

Kotak and Karvy submitted their bids to Ricoh’s committee of creditors, helmed by Deutsche Bank, “which will choose the new owner of the company.” Ricoh India’s lenders may suffer a 5-10 percent loss on their loans. These include Bank of India and Citibank.

Ricoh India’s troubles began in 2016, when the company “admitted its accounts appeared to have been ‘falsified’ and that it estimated to have incurred a loss of Rs 1,123 crore ($157.8 million/€138.4 million) for the financial year concluding March 2016.

Minority shareholders claimed compensation both from Ricoh India and its Japanese parent company.

Categories : City News

Tags : Financial Karvy Data Management Services Kotak Investment Advisors Losses Ricoh India

  • GM Technology October 2024
  • Cartridge Web Nov Web Banner
  • Static Control June 2022 Big & Bold Ad
  • G&G web advert October 2024
  • TN Core Nov Web advert
  • IR Italiana Web ad January 2021
  • Biuromax web banner July 2024
  • Apex September 2024 Web ad
  • Ink Tank No Web advert
  • ITP Web ad January 2021
  • Denner Feb 2024 Web Ad
  • PCL Nov Web advert
  • HYB Web banner Jan 2024
  • denner UK Web Banner Jul 2024
  • Mito Web banner June 2024
  • CET Web ad December 2023
  • Zhono Web ad March 2024
  • ITP Web ad January 2021
  • CET Web ad December 2023
  • HYB Web banner Jan 2024
  • denner UK Web Banner Jul 2024
  • Mito Web banner June 2024
  • PCL Nov Web advert
  • Denner Feb 2024 Web Ad
  • Zhono Web ad March 2024
  • ITP Web ad January 2021
  • denner UK Web Banner Jul 2024
  • PCL Nov Web advert
  • Mito Web banner June 2024
  • CET Web ad December 2023
  • Denner Feb 2024 Web Ad
  • Zhono Web ad March 2024
  • HYB Web banner Jan 2024

The Recycler, Wittas House, Two Rivers, Station Lane, Witney, OX28 4BH, United Kingdom | Tel: +44 (0) 1993 899800 | Fax : +44 (0) 1993 226899
©2006-2023 The Recycler - Terms & Conditions - Privacy Policy including cookie use

Web design Dorset | Websites by Mark