The National Company Law Tribunal (NCLT) has approved Chemhub Tradelink’s resolution plan for Pancard Clubs, which has debt claims of around Rs 8,900 crore, which is leading to 8% recovery for creditors. Ahmedabad...
NCLT admits insolvency plea against two Essel Group companies on Indiabulls Housing plea
The bankruptcy court on Thursday admitted two Essel Group entities Primcomm Media Distribution Ventures Ltd and Essel Homes Pvt Ltd under the Corporate Insolvency Resolution Process (CIRP) after Gnex Realtech Pvt Ltd...
Vedanta demerger likely to get nod from lenders by May end
Key lenders are likely to give their approval for the revenue stream-wise demerger of Vedanta by the end of May, a senior executive at the natural resources conglomerate told ET. “Right now, the file is with Sebi...
Happiest Minds to acquire PureSoftware Technologies for Rs 779 crore
Happiest Minds Technologies will acquire Noida-based digital engineering and transformation services and solutions provider PureSoftware Technologies for $94.5 million (Rs 779 crore), the IT services company said...
Edelweiss Alternatives acquires IT park in Bengaluru for over Rs 1,500 cr
Edelweiss Alternatives, the alternative asset arm of the Edelweiss Group, has acquired MFAR Developers’ 1.1-million-sq-ft information technology park in Bengaluru for over Rs 1,500 crore. This is the largest and first...
Board of Sandur Manganese & Iron Ores approves acquisition of 80% stake in Arjas Steel
The Board of Sandur Manganese & Iron Ores at its meeting held on 25 April 2024 has approved strategic business acquisition through purchase of 80% equity share capital of Arjas Steel (ASPL), by entering into a Share...
hBits forays into Pune property market, acquires asset in CyberCity Magarpatta
Fractional ownership platform hBits is looking to raise over Rs 55 crores for a pre-leased commercial asset it has acquired in Pune marking its foray in the second largest city in Maharashtra. The property is leased to...
Indus Towers share declines 3% after Airtel dismisses talks of acquiring stake
The shares of Indus Towers declined 3% on Wednesday on BSE to the day’s low of Rs 348 after Sunil Mittal-owned Bharti Airtel dismissed news of being in talks to acquire a stake in the company. Earlier reports had said...
HIL completes acquisition of Crestia Polytech
HIL has completed the acquisition of Crestia Polytech for a cash consideration of Rs 158.44 crore. The company also completed the acquisition of its group entities being Topline Industries, Aditya Polytechnic and Prabhu...
M&A deal value soars 60% to $19.6 billion with net 455 in Q1FY25, PE dips slightly: PwC India
The overall merger and acquisition (M&A) deal value soared by 60 per cent to $19.6 billion in January-March 2024, while that of the private equity (PE) ones experienced a slight dip, according to a latest PwC India...
NCLT levies ₹20,000 cost on Byju’s for failing to reply to plea by Surfer Tech
The Bengaluru bench of the National Company Law Tribunal has levied a cost of ₹20,000 on edtech platform Byju’s for the delay in filing its reply to a petition by Surfer Technologies. As an operational creditor, Surfer...
NCLT admits insolvency resolution plea against listed infra firm Sadbhav Engineering
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has admitted the listed road infrastructure company, Sadbhav Engineering, under the corporate insolvency resolution process in an application filed by its...