SpaceMantra, the winning bidder to take over Kishore Biyani’s retail brand outlet Future Lifestyle Fashions (FLFL), has withdrawn its resolution plan for the company days before lenders overwhelmingly voted for...
Persistent strengthens its AI-driven services with acquisition of Pune-based Arrka
Persistent Systems announced the intent to acquire Arrka, a Pune-based company renowned for its decade-long data privacy expertise, its pioneering Data Privacy Management platform and growing expertise in AI governance...
Reliance Power to consider stake sale for fundraising, board meeting to be held on October 3
Reliance Power Ltd’s board of directors is to consider a stake sale to raise funds in the company’s upcoming board meeting on Thursday, October 3, according to the company’s BSE filing on Friday...
IDFC to merge with IDFC FIRST Bank, effective October 1
IDFC Ltd on Friday announced that it will merge into IDFC First Bank effective October 1. This came after the Chennai bench of the National Company Law Tribunal sanctioned the merger scheme on September 25. Post October...
Authum Investment, Mahi Madhusudan Kela to acquire 46.85% stake in Prataap Snacks
Authum Investment & Infrastructure and Mahi Madhusudan Kela will acquire a 46.85 per cent stake in Prataap Snacks, which operates the snack brand Yellow Diamond and sweet snacks brand Rich Feast. The company has...
Motilal Oswal, promoters likely to pare stake in non-banking lender IKF Finance
Investors and promoters of IKF Finance are looking to sell a controlling stake in the Hyderabad-based non-bank lender in a deal that could value it at $200-250 million, said three people with knowledge of the...
NCLT lambasts Dunzo for failing to settle with creditors despite having ’enough time’
A dedicated bankruptcy tribunal on Friday pulled up Dunzo Digital Pvt Ltd, a quick commerce platform backed by Reliance Retail, for not reaching a settlement with its creditors despite being given “enough time” to...
India’s Reliance Power considering stake sale to raise funds
India’s Reliance Power said on Friday it will consider raising funds, including an option of stake sale to institutional investors as the Anil Ambani-run company looks to expand its business. The electric utility...
Steel ministry pushes for merger of debt-hit RINL with SAIL
The steel ministry is “actively working” towards the merger of Rashtriya Ispat Nigam (RINL) with Steel Authority of India Ltd (SAIL), said a senior government official, a development that comes in the...
NCLAT grants Supertech Township projects two weeks to submit settlement proposal
The Insolvency Appellate Tribunal (NCLAT) has given additional time to Supertech Township Projects, a real estate firm in financial trouble, to circulate a settlement proposal to its lenders and homebuyers. Ram Kishore...
Sequent Scientific, Viyash Life Sciences announce Rs 8,000 crore merger
Sequent Scientific and Viyash Life Sciences have announced a merger that will result in the two companies forming a combination that will create a platform with leadership in animal pharmaceuticals, end-to-end...
NCLAT gives go-ahead to IECCL resolution
The NCLAT on Thursday gave a go-ahead to the insolvency resolution of IL&FS Engineering and Construction Company Limited (IECCL) and delinked it with the other listed loss-making companies of debt-ridden IL&FS...
