The board of the ITC has approved acquiring a 25% stake in Maharaja Heritage from Russel Credit. The shareholders will get one hotel company share for 10 held in the company. The indicative timeline for listing ITC...
NCLAT stays admission of Coffee Day Enterprises for insolvency
The appellate tribunal of the bankruptcy court Friday stayed the admission of Coffee Day Enterprises Ltd (CDEL) after it was challenged by the promoter, Malavika Hedge, that default occurred during the “calm...
Cafe Coffee Day insolvency: NCLAT Chennai stays the case, hearing scheduled for September
The Chennai Bench of National Company Law Appellate Tribunal (NCLAT) has stayed the admission of corporate insolvency case brought by National Company Law Tribunal (NCLT) Bengaluru against the coffee chain firm, Cafe...
ITC board gives in-principle nod for demerger of hotels business
ITC Ltd. board has given in-principle approval for the demerger of its hotels business and to incorporate a wholly owned subsidiary called ITC Hotels. “After due consideration, the Board accorded its in-principle...
DS Group completes acquisition of Viceroy Hotels
The Dharampal Satyapal (DS) Group has completed the acquisition of Viceroy Bangalore Hotels Pvt. Ltd as part of the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, said a lawyer aware...
NCLAT turns down Sebi plea seeking to block insolvency of Pancard Clubs
National company law appellate tribunal (NCLAT) has dismissed market regulator Securities and Exchange Board of India’s plea to block insolvency proceedings of Pancard Clubs, as per a court order reviewed by ET. Sebi...
Restaurant chain Pinstripes to go public via $520 million SPAC deal
Restaurant chain Pinstripes, which offers Italian food along with bowling and bocce, said on Friday it will go public through a merger with a blank-check firm in a deal valued at about $520 million and plans to list on...
NCLT rejects resolution plan of Anirudh Agro Farms for Viceroy Hotels: Report
The NCLT has reportedly rejected the resolution plan of Anirudh Agro Farms for Viceroy Hotels following the expiry of bank guarantees and directed the continuation of the corporate insolvency resolution process (CIRP)...
Not in any talks to acquire Restaurant Brands Asia: Jubilant FoodWorks
Jubilant FoodWorks Ltd (JFL), the master franchisee for Domino’s Pizza and Dunkin, said it is not in the race to acquire Restaurant Brands Asia Ltd, formerly known as Burger King India Ltd. The leading Quick...
Everstone in talks to sell stake in India’s Burger King franchisee: Report
Private equity firm Everstone Capital is in talks to sell its roughly 41% stake in Restaurant Brands Asia Ltd, the master franchisee of Burger King in India and Indonesia, CNBC Awaaz reported on Thursday. The Singapore...
NCLT admits Tulip Hotels into insolvency
The National Company Law Tribunal (NCLT) has admitted JC Flowers Asset Reconstructions’ application to initiate insolvency proceedings against Tulip Hotels over defaults of ₹900 crore. The application was...
SC says NCLAT right to reject Appu Hotels’ resolution plan
The Supreme Court has ruled an appellate bankruptcy tribunal was right in rejecting Appu Hotels’ resolution plan even as 87.3% of verified financial creditors approved the offer given by M K Rajagopal, the founder of...
