The Kolkata Bench of the National Company Law Tribunal (NCLT) on Friday admitted a petition to start an insolvency process against McNally Bharat Engineering Company Limited, the troubled engineering, procurement and...
Varroc looking to sell global lighting business for up to $650 million
Varroc Engineering, an auto component maker promoted by Tarang Jain, is likely to sell its global lighting business Varroc Lighting System (VLS) at an enterprise value of up to ₹600 million ($650 million) to a leading...
Parker wins EU antitrust nod for $8.2 billion Meggitt buy
U.S. engineering and aerospace group Parker-Hannifin won EU antitrust approval for its 6.3-billion-pound ($8.2 billion) planned acquisition of Britain’s Meggitt after pledging to sell a factory in the United...
Triveni Turbine arm to acquire 70% stake in S African firm TSE Engineering
Triveni Turbine on Wednesday said that its arm Mis Triveni Turbines DMCC has inked an agreement to acquire 70 per cent equity of TSE Engineering in South Africa for 11.9 million South African rands (around Rs. 6.17...
Reliance Infra submits resolution plan for Reliance Naval & Engineering
A company of Anil Ambani’s Reliance Group has submitted a resolution plan for another group firm, Reliance Naval & Engineering Ltd (RNEL), at a time when lenders have begun voting on two other proposals, two...
NCLT allows liquidator of EPC Construction to initiate arbitration against Indian Oil
A dedicated bankruptcy court has permitted the liquidator of EPC Constructions India Ltd (formerly Essar Projects) to initiate arbitration proceedings against Indian Oil Corp Ltd (IOC) to recover about Rs 1,005 crore in...
Bosch acquires 26 pc stake in B2B e-commerce firm Autozilla Solutions
Leading technology and services provider Bosch on Wednesday said it has acquired a minority 26 per cent stake in B2B eCommerce auto spares, garage equipment and accessories Autozilla Solutions. The Hyderabad-based firm...
Engine maker Cummins to buy Meritor for $2.6 bln in electric parts push
U.S. truck engine maker Cummins Inc said on Tuesday it will buy auto parts maker Meritor Inc for $2.58 billion in cash, to beef up its electric and hybrid vehicle parts offerings amid a boom in demand for climate...
Spain’s ACS plans to sell renewable business Zero-E, Expansion says
Spanish engineering group ACS is planning to sell its renewable energy unit Zero-E, which could be worth 1 billion euros ($1.14 billion), Expansion newspaper reported on Thursday, citing unidentified market sources. ACS...
ABB India completes sale of Dodge Business for Rs 45 crore
ABB India on Thursday said it has completed the sale of its mechanical power transmission division to Dodge Industrial India Pvt Ltd for a consideration of Rs 44.58 crore. Dodge Industrial India is an affiliate of RBC...
NCLAT rejects Kotak Bank’s plea to set aside insolvency proceedings against MSEL
The National Company Law Appellate Tribunal (NCLAT) has dismissed a petition filed by Kotak Mahindra Bank along with a director of debt-ridden McNally Sayaji Engineering Ltd (MSEL) to set aside insolvency proceedings...
General Electric to split into three public companies
General Electric Co. said it will split into three public companies, breaking apart the more than century-old company that was once a symbol of American manufacturing might and has struggled in recent years. The plan is...
