Bloomberg UltraTech Cement Ltd. has signed an “in-principle” pact with Binani Industries Ltd. to buy its holdings of a distressed unit as India’s largest cement maker attempts to beat out a Bain-backed consortium, which earlier made the winning bid in ongoing bankruptcy proceedings. UltraTech, controlled by billionaire Kumar Mangalam Birla, said it had agreed to pay 72.7 billion rupees ($1.1 ...

Bloomberg State Bank of India, the country’s largest lender, has approached the apex court to challenge decisions that halted the sale of assets by Anil Ambani’s indebted telecom unit, which is seeking to pare a $7 billion debt pile. The state-run bank is seeking to revoke a high court order as well as one from a bankruptcy tribunal in a ...

Bloomberg A Hyundai Motor Co. executive called for caution in the development of autonomous cars after an Uber Technologies Inc. self-driving vehicle struck and killed a woman in Arizona. “We don’t know other carmakers’ standards on autonomous cars, but ours are not lax,” Yoon Sung-hoon, head of Hyundai’s mid-large vehicle project, said at the sidelines of a Seoul event. Hyundai ...