SEBI Board in its meeting on 21 June 2018 has inter alia resolved: To amend SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (the Takeover Code 2011) To replace SEBI (Buy-back of Securities)...
AMENDMENTS IN PRIVATE PLACEMENT PROVISIONS AND THEIR IMPLICATIONS
Companies Act 2013 majorly specifies only 3 modes of raising finance for companies viz: Public Issue, Rights Issue and Private Placement. Generally, for need based funding, companies always prefer private placement as...
Mahindra’s CIE deal catapults it into the global arena
The journey of Mahindra and CIE Automotive that began in 2013 is a well thought out and superbly executed strategy to become a global leader in auto components space. There was no dilution in equity or any fresh fund...
Greenply demerges MDF business to embark on growth
In May 2018, Greenply Industries Limited decided to demerge its Medium Density Fibre Boards (MDF) business, and now, the company will be left with only plywood business. What really is happening is that the two products...
Deep Industries demerges oil & gas service business
Deep Industries Ltd (Deep) is a listed public company primarily in two business segments: (a) Oil and Gas Services Business comprising of air and natural gas compression services, gas dehydration, work over and drilling...
Wipro: Consolidating its Foreign Businesses under one Roof
In April this year, Wipro Limited decided to merge its wholly owned subsidiaries, which it acquired from NewLogic Technologies group in 2005 with itself. Wipro Limited (Wipro), is a leading global information...
LIC bails out IDBI Bank
The government in its zeal to address twin problem of divestments and fiscal deficit and at the same time exiting some loss making PSU which are cash guzzlers and value destroyers; comes out with an innovative idea...
MERGER OF LLP INTO COMPANY
Provisions of Compromises, Arrangements, Amalgamation and Reconstruction are dealt in the Companies Act, 2013 under sections 230-234. Amalgamations are also treated in the LLP Act. 2008. But there is no explicit...
Management Buy-out
What is Management Buy-out (MBO): In an ideal MBO, financial institutions or other fund lending institutions act like venture capitalist and support management of the company in buying out stakes from the promoter(s) of...
Thomas Cook to focus back on travel business post series of varied acquisitions: Unlocking potential value
Thomas Cook (India) Ltd. (TCIL) is the leading integrated travel and travel related financial services company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE...
Indus Towers: World’s largest tower company: Forced Exit by Idea & Providence?
Bharti Infratel, incorporated on November 30, 2006, is India's leading provider of tower and related infrastructure and it deploys, owns and manages telecom towers and communication structures for various mobile...
ITO Vs M/s. Zinger Investments (P) Ltd.
Facts of the case The assessee filed its return of income, declaring Nil income. Subsequently, action was initiated under section 147 of the Act by issuing a notice under section 148 calling upon the assessee to submit...