The Phoenix Mills Limited (PML), India’s largest retail-led mixed-use developer and operator has announced a scheme of amalgamation of its subsidiary company, Phoenix Hospitality Company Private Limited (PHCPL) with PML...
Dus ka Char: Government to merge 10 PSU banks into four
In order to create large-size state-owned banks, the government has decided to merge 10 public sector banks into four. The mergers will help drive credit growth, lift the slowing economy of the country and boost the...
Impact Analysis of Bhushan Steel Resolution plan
Bhushan Steel was under Corporate Insolvency Resolution Process (CIRP) and on May 15, 2018, resolution plan was approved by the NCLT. On May 18, 2018, the company was acquired by Bamnipal Steel Limited (BMSL), a...
Sterling Biotech promoters gets a breather as NCLAT halts liquidation process
In a landmark ruling, the National Company Law Appellate Tribunal (NCLAT) has set aside National Company Law Tribunal (NCLT) order to liquidate Sterling Biotech. It has also directed that the management should be handed...
Whether serial acquisitions helped camouflage losses and diversion of funds?
CG Power and Industrial Solutions Ltd (“CG Power”), which makes power equipment - electrical switchgears have tumbled 70% in the last 3 months on the stock exchanges with news of serious accounting lapses at the company...
Implications of Appointed Date in the Scheme of Merger
Section 232(6) of the Companies Act, 2013 states that the appointed date with respect to a scheme of merger and amalgamation means the date from which the scheme becomes effective. That means the appointed date and...
RIL sells stake to Saudi Aramco, signs JV with BP Plc
In one of the largest foreign investments ever to be made in India, Reliance Industries Ltd (RIL) has decided to sell 20% stake in its oil business to Saudi Aramco, the world’s largest oil company producing one in every...
Airtel: Creating Numero Uno position in VSAT Business
Very Small Aperture Terminal (VSAT) provides satellite-based telecommunication and internet access to companies and individuals with applications from your our direct TV at our homes, ATMs, in-flight services to...
NCLT approves Dalmia Cement’s plan to revive Murli Industries
After a long-drawn case, the National Company Law Tribunal (NCLT) Mumbai has given approval to Dalmia Cement (Bharat) regarding the resolution plan for the revival of Murli Industries. Dalmia Cement (Bharat) Ltd is a...
Shares with Superior Voting Rights
An equity share with differential rights is like an ordinary equity share, but it provides more or fewer voting rights to the shareholder. The difference in voting rights can be achieved by increasing or reducing the...
Ebix acquires Yatra to consolidate its position
US software firm Ebix has acquired Nasdaq-listed Yatra Online Inc to boost its India travel ventures at an enterprise value of $336 million, or Rs 2,350 crore in an all stock deal. Once the transaction is complete ...
Fairfax-backed Fairchem Speciality to restructure business
The Board of Directors of Fairchem Speciality Limited announced the separation of its “Oleo Chemical & Nutraceutical Business” through a demerger. To take the company to the next level, the famous Fairfax group...