Lenders to Mandhana Industries have moved the bankruptcy court to cancel US-based Formation Textiles’ approved proposal to acquire the local textile and apparel maker, as it failed to meet the terms of the pact as...
PNB takes Tarapur Textiles Park to DRT for $13-million loan default
With investigations into Nirav Modi scam in full swing, Punjab National Bank (PNB) has unearthed yet another default from its London branch. The bank has moved the Debt Recovery Tribunal (DRT) against Tarapur Textiles...
Levi Strauss IPO to raise as much as $587 million
Jeans maker Levi Strauss & Co said on Monday it expects to raise as much as $587 million through its initial public offering, which marks its return to public markets after more than three decades. The company...
Grasim buys Soktas India for ₹165 crore
Grasim Industries Ltd on Wednesday said it has signed a definitive agreement to acquire 100% equity shareholding of Soktas India Pvt. Ltd (SIPL) from its current promoters for an enterprise value of ₹165 crore. The...
Jeans maker Levi Strauss files for stock market comeback
Jeans maker Levi Strauss & Co on Wednesday filed documents to list itself on the New York Stock Exchange, seeking to return to public markets after more than three decades. Levi’s, one of the world’s biggest denim...
NCLT orders Reid & Taylor liquidation
A two judge bench of the Mumbai national company law tribunal (NCLT) has ordered the liquidation of the apparel maker Reid & Taylor (R&T) after none of the suitors to the company were able to garner the required...
Reid & Taylor: NCLT refuses Kasliwals access to forensic audit copy
The National Company Law Tribunal (NCLT) Monday refused the Kasliwals, the ex-promoters of Reid & Taylor, to access a copy of the forensic audit report carried out by KPMG which has found that the promoters had...
GAIL moves NCLT opposing Alok Industries resolution plan
Gail India has filed an application before the National Company Law Tribunal, opposing a resolution plan that Reliance Industries has proposed in partnership with JM Financial Asset Reconstruction Company for Alok...
Reid & Taylor case: NCLT accepts Rs 2 crore as earnest money deposit from CFM Asset Reconstruction Company
The National Company Law Tribunal (NCLT) Thursday accepted a Rs 2 crore demand draft as earnest money deposit (EMD) from CFM Asset Reconstruction Company (ARC) for the ailing Reid & Taylor (RTIL), and has given them...
Reid & Taylor insolvency: CFM hired as new investor; SPGP shunted
After Hong Kong-based SPGP Holdings failed to come up with an amount it could have deposited as earnest deposit money (EDM), Gujarat’s CFM Asset Reconstruction has been hired as the new investor to support the employee...
RP of Reid & Taylor moves NCLT, files criminal case against promoters
The resolution professional of Reid & Taylor has approached the Mumbai Bench of the National Company Law Tribunal (NCLT) with a criminal action lawsuit against the promoters for a fraud of ~1,810 crore. Venkatesan...
Reid and Taylor: NCLT stalls liquidation, accepts union bid for company
The Mumbai bench of the National Company Law Tribunal (NCLT) has accepted a bid by an unregistered union of the premium apparel brand Reid & Taylor India to take over the firm, stalling liquidation and has posted...
