Shares of JSW Infrastructure Ltd dropped about 6% in early trade on Friday, even as the company reported a solid 24% year-on-year Ebitda growth. Investors appear worried about the decline in net profit primarily due to...
IDBI Bank’s stake sale: Progress at last
The Reserve Bank of India has reportedly certified bidders for IDBI Bank as “fit and proper”, paving the way for the government to sell a big equity stake in the bank. RBI’s fitness and propriety norms are meant...
CCI approves two acquisitions involving Arjas Steel, Suven Pharmaceutical
The Competition Commission of India (CCI) has granted approval for two significant acquisitions, as per an official statement by the CCI. Firstly, the CCI has approved the indirect controlling acquisition of Arjas Steel...
Gautam Adani and Torrent to buy majority stake in IPL team Gujarat Titans
Adani Group and Torrent Group are in discussions with private equity firm CVC Capital Partners to buy a controlling stake in the Gujarat Titans, an Indian Premier League (IPL) team. According to a report by the Economic...
NCLT admits Axis Finance’s plea against Primat Infrapower & Multiventures
The bankruptcy court in Mumbai has admitted Essel Group affiliate Primat Infrapower & Multiventures under the corporate insolvency resolution process (CIRP) following an application filed by Axis Finance Ltd. Axis...
NCLT admits GVK Power & Infra with dues of Rs 18k cr to insolvency
The Hyderabad bench of the National Company Law Tribunal (NCLT) has initiated corporate insolvency proceedings against GVK Power & Infrastructure (GPIL) in response to a petition by ICICI Bank and joined by five...
Go First heads for liquidation after discussions on bids come up short
Creditors to the debt-laden Go First airline are set to move towards liquidation of the airline after finding no headway between banks and the two prospective bidders, five months after bids were formally received for...
NCLT admits insolvency plea against Byju’s. Here’s what it means for the edtech platform
Byju’s, once India’s most celebrated startup, has been grappling with an escalating financial crisis, facing mounting legal battles with creditors amid a severe cash crunch. On 16 July, the National Company Law...
No final bids from ARCs for IDBI’s Stressed Assets Stabilisation Fund assets
IDBI Bank’s Stressed Assets Stabilisation Fund (SASF), which was looking to recover 11.59% from the sale of non-performing loans worth ₹6,151 crore, has hit a roadblock. Despite receiving 18 expressions of...
HUL to sell water biz to AO Smith India for Rs 601 crore
Hindustan Unilever Limited said it has signed an agreement to sell its Pureit water business AO Smith, for an enterprise value of Rs601 crore. Launched two decades ago, the water purification brand is part of...
Byju’s creditor Surfer Technologies settles insolvency case with edtech firm
Gurugram-based Surfer Technologies told the Bengaluru bench of the National Company Law Tribunal (NCLT) on Wednesday that it has reached an amicable settlement with Byju’s and hinted that it would withdraw its...
NCLT dismisses resolution for Rajesh Lifespaces’ hotels business, orders rerun
The National Company Law Tribunal (NCLT) has dismissed the resolution plan submitted for realty developer Rajesh Lifespaces’ hotel business, Rajesh Business & Leisure Hotels, citing non-conformity with...
