Paper / Wood / Glass/ Plastic/ Marbles-Ind'l Goods/Svs-Industry-The Economic Times - Seite 3 
Auditor flags Rs 63 crore as potentially fraudulent transactions in HNG
BDO India detected fraudulent transactions worth Rs 63.34 crore under HNG's former management, involving entities like Rafbrix International and Durvish Vyapaar. The NCLT approved INSCO's Rs 2,250 crore resolution plan to revive the debt-ridden glass manufacturer. INSCO will invest upfront cash and modernize equipment, gaining complete control after a monitoring phase.
The Seamless Tube Manufacturers' Association of India (STMAI) asserts that India possesses ample seamless pipe production capacity to satisfy domestic needs. They are urging the government to take strong action against the increasing influx of inexpensive Chinese pipe imports, which are harming the local industry despite existing protective measures.
India’s paper and paperboard imports rise 8 percent to 4.86 lakh tonnes in April-June: IPMA
India's paper and paperboard imports increased by 8% to 486,000 tonnes in Q1 FY26, with China being the largest source, surging by 28%. The rise in imports from China and ASEAN countries is impacting the competitiveness of the domestic paper industry, leading to underutilised plants.
Govt imposes minimum import price of Rs 67,220 per tonne on multi-layer paper board till March 2026
The government is setting a minimum import price of Rs 67,220 per tonne on specific paper boards. This applies to virgin multi-layer paper board until March 31, 2026. The Directorate General of Foreign Trade issued the notification. This move aims to curb product dumping from countries like Indonesia. Earlier, an anti-dumping probe was initiated following a complaint from Indian manufacturers.
NCLT approves INSCO's Rs 2,250 crore resolution plan for Hindustan National Glass
The National Company Law Tribunal approved Independent Sugar Corporation Ltd's Rs 2,250 crore resolution plan for Hindustan National Glass & Industries Ltd, paving the way for INSCO to take control. This decision follows a Supreme Court directive for INSCO to match AGI Greenpac's earlier bid, which was rejected due to lack of CCI approval.
India-UK FTA a big step forward, will help businesses grow: JK Paper CMD Harsh Pati Singhania
JK Paper's Chairman, Harsh Pati Singhania, hails the India-UK Free Trade Agreement as a significant boost for businesses, strengthening economic ties. The agreement facilitates market access for both countries, fostering business growth and confidence. It also addresses the social service tax issue for Indian professionals in the UK, marking a substantial step forward in bilateral relations and trade.
PVC pipes, fittings manufacturing companies to see recovery this fiscal: Crisil Ratings
PVC pipe manufacturers are poised for a revenue recovery this fiscal year, fueled by strong demand from government initiatives like the Jal Jeevan Mission and Pradhan Mantri Awas Yojna. Increased budgetary allocations for these schemes will further drive the need for PVC pipes and fittings. Improved profitability and reduced inventory levels will also support capacity expansion for these companies.
Indian furniture brand WoodenStreet aims to quadruple revenue in 3 years, mulls IPO
WoodenStreet, backed by WestBridge Capital, aims to quadruple its revenue in three years by expanding its mattress and modular furniture businesses and opening dozens of new stores, positioning itself for a public listing. The company plans to triple its store count within 18-24 months, focusing on major cities, while also considering opportunities in smaller ones.
Greenlam Industries to invest Rs 1,147 crore in Andhra Pradesh for laminate facility
Greenlam Industries is investing Rs 1,147 crore to establish a High-Pressure Laminate and Particle Board manufacturing facility in Andhra Pradesh, poised to be South India's largest. The project will deploy advanced German technology and benefit from over Rs 329 crore in incentives from the Andhra Pradesh government. This expansion aligns with the growing Indian engineered wood and home decor market.
NCLAT clears path for Hindusthan National Glass bids, rejects RP ouster
NCLAT has overturned NCLT's decision to replace Hindusthan National Glass Industries' resolution professional, instructing NCLT to reconsider bids following Supreme Court directives. The Supreme Court previously directed the CoC to evaluate Independent Sugar Corporation Ltd.'s resolution plan.
Adani to rival Reliance with PVC plant by 2028
Gautam Adani's conglomerate is venturing into the petrochemicals sector with a 1 million tonne per year PVC plant in Mundra, Gujarat, challenging Reliance Industries' dominance. This project aims to reduce India's import dependency amid growing PVC demand driven by agriculture, infrastructure, and housing sectors. The plant, slated for commissioning by fiscal 2028, will utilize acetylene and carbide-based production processes.
India initiates anti-dumping probe into import of multi-layer paperboard from Indonesia
The Directorate General of Trade Remedies has initiated an anti-dumping investigation into imports of multi-layer paperboard from Indonesia, following a complaint from the Indian Paper Manufacturer Association. The association alleges that the domestic industry is suffering injury due to dumped imports.
Lenders approve Uganda-based INSCO's ₹2,257-crore plan for Hindusthan Glass
Creditors, including State Bank of India, have approved Independent Sugar Corp's revised ₹2,257 crore resolution plan for Hindusthan National Glass. The plan involves an upfront payment of ₹1,901.5 crore and a deferred payment of ₹356.3 crore. Secured financial creditors will recover 66.18% of their claims, with a ₹1,000 crore capital expenditure planned to revive HNG's operations.
INSCO submits Rs 2,752 crore revised resolution plan for HNGIL take over
Independent Sugar Corporation (INSCO) has presented a revised Rs 2,752 crore resolution plan to acquire Hindusthan National Glass & Industries Limited, aligning with a Supreme Court order. The plan includes Rs 2,200 crore upfront cash and Rs 550 crore in equity.
INSCO to submit improved resolution plan for Hindusthan National Glass
Independent Sugar Corp (INSCO), the approved bidder, will present an enhanced resolution plan of ₹356 crore for Hindusthan National Glass to lenders. This follows a Supreme Court directive to match AGI Greenpac's offer after rejecting the latter's plan due to delayed CCI approval. The resolution professional will now seek CoC approval for the revised INSCO plan by July 2025.