The National Company Law Tribunal has ordered insolvency proceedings against a Sahara Group subsidiary, deciding that a dispute raised by the company against its creditor was a means to avoid paying its dues. A Mumbai...
Reliance Retail and Naturals Salon call off deal talks
Reliance Retail and Naturals Salon & Spa have called off their acquisition talks on differences in valuation of the latter, executives aware of the development said. Reliance Retail had been in advanced negotiations...
CCI approves Titan’s acquisition of additional stake in CaratLane
Fair trade regulator Competition Commission of India (CCI) cleared the acquisition of an additional stake purchased by Titan in CaratLane. CaratLane is engaged in the business of manufacture and sale of gems and...
UK to explore options for NatWest retail share offer
Britain’s finance minister Jeremy Hunt said he would explore options for a NatWest share offer to the public in the next 12 months, to allow the government to reduce its stake in the bank. The government has been...
Space Mantra and Donear Industries submit plans for Future Lifestyle Fashions
Kishore Biyani-promoted Future Lifestyle Fashions (FLFL) that ran the Central and Brand Factory stores has received two resolution offers, one each from scrap dealer Space Mantra and fashion retailer Donear Industries...
Future Retail RP files for liquidation in NCLT
The resolution professional (RP) of Future Retail Ltd (FRL) filed for liquidation, marking an inglorious end for the company that once led India’s retail revolution. On 30 September, creditors had rejected a resolution...
Future Retail Lenders at odds with RP
Future Retail lenders are concerned that the Deloitte-backed resolution professional, Vijaykumar Iyer, has yet not filed an application with the bankruptcy court to liquidate the company even after five weeks have...
Reliance Retail acquires beauty business of Arvind Fashions, to run Sephora
Reliance Retail will now operate Sephora in India as Arvind Fashions Limited (AFL) has signed definitive agreements with Reliance Beauty & Personal Care Limited (RBPCL) to sell its wholly owned subsidiary Arvind...
UK supermarket Asda completes $2.5 bln purchase of EG’s UK business
Asda, Britain’s third biggest supermarket group, said it has completed the acquisition of the majority of EG Group’s UK & Ireland business for an enterprise value of 2.07 billion pounds ($2.52 billion). EG...
NCLT admits personal insolvency application against Kishore Biyani
Mumbai’s bankruptcy court on Friday admitted Axis Trustee Services’ application to initiate a personal insolvency process against Future Group promoter, Kishore Biyani, said people aware of the development...
Drug retailer Rite Aid files for bankruptcy, gets $3.45 bln commitment
Rite Aid filed for Chapter 11 bankruptcy on Sunday, a move that would halt lawsuits the drugstore chain is facing over its alleged role in the U.S. opioid crisis and named a new CEO. Rite Aid said it has received a...
Westbridge Capital buys stake in Meesho
Westbridge Capital has acquired 1.5% of Meesho at a valuation of $3.5 billion, two people with knowledge of the deal said. The investment firm acquired the stake from Meesho’s seed investor, Venture Highway. Venture...
