The Delhi insolvency court on Thursday admitted Aviom India Housing Finance Pvt. Ltd into bankruptcy and liquidation proceedings following a plea by the Reserve Bank of India (RBI). RBI had moved the National Company...
Competition Commission clears merger of two entities into Svatantra Microfin
The Competition Commission of India on Tuesday cleared a proposed combination involving the merger of Chaitanya India Fin Credit and Svatantra Holdings into Ananya Birla-led Svatantra Microfin. “The proposed...
Payments processor Shift4 to buy Global Blue in $2.5 billion deal
Payments processor Shift4 has agreed to buy travel and retail-focused financial technology platform Global Blue in a deal valued at $2.5 billion, the companies said on Tuesday. The acquisition will give Shift4 access to...
NCLT directs Hinduja Group to complete Reliance Capital acquisition by February 25
The Mumbai bench of the National Company Law Tribunal (NCLT) Monday heard IndusInd International Holdings Limited’s (IIHL) plea regarding the impasse in the Anil Ambani-promoted Reliance Capital resolution. The tribunal...
Escrow deadlock stalls Reliance Capital deal, IIHL seeks NCLT guidance
A deadlock over escrow agreements between Anil Ambani-promoted Reliance Capital’s creditors and IndusInd International Holdings Ltd (IIHL) lenders has stalled the final Rs 4,300-crore funding required to complete the...
Max Financial Services approves listing of Axis Max Life via merger
India’s Max Financial Services said on Tuesday it has approved the listing of its unit, Axis Max Life, by merging with the insurer. The move comes after the country’s insurance regulator sought a public...
TVS Holdings acquires 80.74% stake in Home Credit India for Rs 554 crore
TVS Holdings Ltd on Monday announced the successful completion of its acquisition of an 80.74 per cent equity stake in Home Credit India Finance (Home Credit India) for Rs 554 crore. The remaining 19.26 per cent of the...
Paytm Cloud acquires 25% stake in US-based Seven Technology
Paytm Cloud has approved a Rs 8.7 crore ($1 million) investment in Seven Technology. The company will acquire a 25% stake in Seven, parent One 97 Communications said in a filing to the exchanges. Paytm Cloud is a wholly...
RBI files application for insolvency proceedings against Aviom India Housing Finance
The Reserve Bank of India (RBI) has initiated insolvency proceedings against fraud-hit Aviom India Housing Finance, appointing a three-member advisory committee to assist former Punjab National Bank chief general...
Delhi HC refuses to stay Burman family’s open offer to buy an additional 26% stake in Religare
The Delhi High Court has refused to stay the Burman family’s open offer to buy an additional 26% stake in Religare Enterprises (REL) from public shareholders. The court has also refused to stay REL’s annual general...
RBI dissolves Aviom Housing board, to initiate IBC process
The Reserve Bank of India (RBI) announced on Monday it superseded the board of Aviom India Housing Finance due to governance issues and defaults in meeting various payment obligations. The RBI also announced its...
Delisting Reliance Cap one of last milestones towards acquisition: Hinduja
IndusInd International Holdings Ltd (IIHL) Chairman Ashok P Hinduja said the delisting of Reliance Capital is one of the last milestones towards the closure of the acquisition of the debt-ridden financial firm...
