The National Company Law Tribunal (NCLT) has directed initiating insolvency proceedings against Himalayan Mineral Waters, allowing Jammu & Kashmir Bank’s plea for default of a corporate guarantee given for...
JSW, Torrent, Masdar among suitors for Enel’s India assets
About half a dozen investors, including Masdar Energy of the UAE, Singapore’s Sembcorp, JSW Energy, Torrent Power, Sekura Energy and ONGC, have submitted non-binding bids to acquire 760 MW of operational assets in...
Mankind Pharma in race with PEs to buy BSV Group at possible valuation of Rs 13,000 crore
A consortium of Warburg Pincus and ChrysCapital will compete with TPG, Blackstone and EQT, as well as Mankind Pharma, to acquire BSV Group, formerly Bharat Serum & Vaccines Ltd, valuing it at Rs 12,000-13,000 crore...
NCLT allows fresh round of bidding for KSK Mahanadi
The National Company Law Tribunal (NCLT) Thursday allowed KSK Mahanadi Power Company Ltd’s committee of creditor (CoC) to invite fresh bids for the company. The tribunal dismissed Megha Engineering &...
IBBI issues new guidelines to streamline process of appointing IPs as resolution professionals
The Insolvency and Bankruptcy Board of India (IBBI) has issued a new set of guidelines to streamline the process for appointing insolvency professionals (IPs) as interim resolution professionals, liquidators, and...
Jaypee creditors pick IBC over NARCL’s Rs 10,000 crore offer
Lenders to debt-laden Jaiprakash Associates Ltd, or Jaypee, will pursue the insolvency route against the company, putting plans to sell the company’s massive debt to government-backed National Asset Reconstruction...
Air India – Vistara merger gets NCLT nod
The National Court Law Tribunal (NCLT) has approved the merger of Air India & final. ET has seen a copy of the order. The merger will make Air India Group India’s largest international carrier, connecting five of...
Deal activity dips 3% to $5 bn in May, merger and acquisitions down 58%
The overall deal activity declined by 3 per cent to USD 5.023 billion in May compared to USD 5.192 billion in the preceding month of April, a report said on Thursday. The merger and acquisitions plummeted 58 per cent to...
ITC shareholders approve demerger of hotel biz with 99.6% majority votes
ITC shareholders in their meeting held on Thursday, June 6, approved the demerger of the FMCG giant’s hotel business segment, which has paved the way for the listing of ITC Hotels. With an overwhelming majority...
Vedanta’s demerger plan clears major hurdle with SBI approval
State Bank of India has granted its consent to Vedanta’s proposed demerger that will separate its existing businesses into six independent pure-play companies, two bankers aware of the development said. This...
NCLT admits personal insolvency plea against Rajkumar Dhoot of Videocon
The National Company Law Tribunal (NCLT) in Mumbai has admitted the State Bank of India’s application to initiate personal insolvency resolution proceedings against Rajkumar Nandlal Dhoot, promoter & co-owner of the...
Kotak Bank gets RBI nod to sell 70 pc stake in general insurance arm to Zurich Insurance
Kotak Mahindra Bank on Wednesday said it has received the RBI approval to sell a 70 per cent stake in its general insurance arm to Zurich Insurance Company. In November last year, Zurich Insurance Company announced...
