Board of Prism Johnson approved the demerger of retail business in its 4 arms and amalgamation of its 2 subsidiaries Milano and Silica Ceramica into itself. Prism Johnson Ltd. (PJL) has decided to simplify its...
Mystified NCLAT Order
The order dated December 18, 2019 of National Company Law Appellate Tribunal (NCLAT) has reinstated ousted Tata Sons Chairman Cyrus Mistry as Chairman while restoring Mistry to the position, the NCLAT held that the...
Omkar Chemicals Demerger: What went wrong?
Demergers, which are expected to unlock shareholder value, have not worked in favour of shareholders of Omkar Speciality Chemicals and Lasa Supergenerics. Omkar Speciality Chemicals Limited (Omkar Chemical) incorporated...
Bombay High Court strikes down NCLT’s insolvency order on Rolta India
The Bombay High Court, in a far-reaching order, has set aside an earlier order of National Company Law Tribunal (NCLT) which had admitted an insolvency petition against Rolta India. A two-member Mumbai bench of the...
Centre decides stake sale of BPCL
The Union Cabinet has approved the sale of its 53.29% stake in Bharat Petroleum Corp Ltd (BPCL) to a private entity. The state-owned company is one of the most profitable oil refiners and operates fuel stations. At the...