Shapoorji Pallonji Group today announced the sale of the brownfield-Gopalpur port to Adani Port and SEZ Ltd. for an enterprise value of Rs 3350 crore, confirming ET’s newsbreak. This is the second port divestment in...
NCLT rejects promoter’s resolution plan in Wadhwa Buildcon insolvency matter
The National Company Law Tribunal (NCLT) has declared the resolution plan submitted by the promoters of Wadhwa Buildcon LLP as invalid citing the conduct of the Resolution Professional (RP) as a key factor given that...
Maruti Suzuki acquires over 6% stake in Amlgo Labs
Maruti Suzuki India on Saturday said it has acquired over 6 per cent stake in technology startup Amlgo Labs. The startup operates in data analytics, cloud engineering, machine learning (ML) and artificial intelligence...
Six ARCs acquire 55% of KSK Mahanadi Power’s Rs 29,330-crore debt
Six asset reconstruction companies, including Aditya Birla and Kotak Mahindra-backed ARCs, have accumulated 55% of KSK Mahanadi Power’s ₹29,330-crore debt from lenders in separate transactions, shows disclosure...
IL&FS seeks NCLAT nod to sell insolvent companies with haircut, without shareholders’ approval
IL&FS group has approached the NCLAT to seek permission to sell its stake with a “haircut” and without shareholders’ approval in its companies, which are insolvent with unsustainable debts and...
JSW Energy unit to acquire Reliance Power’s wind project for Rs 132 crore
JSW Renewable Energy Coated Limited, a wholly-owned subsidiary of JSW Neo Energy Limited will acquire 45 MW of Renewable Energy generation capacity from Reliance Power Limited for Rs 132 crore, the company said on...
NCLAT sets aside DB Realty insolvency process as co, lender settles matter
The National Company Law Appellate Tribunal (NCLAT) has set aside an insolvency resolution process against property developer DB Realty, renamed as Valor Estate, after the company and its lender Bank of India reached a...
Dashmani Media Amplifies Digital Dominance with Acquisition of Crazy 4 Bollywood, Crazy 4 TV, Bachelors Society, and Purvanchal Live
Dashmani Media Private Limited has strategically broadened its portfolio in the digital entertainment sector with the acquisition of four prominent content platforms: Crazy 4 Bollywood, Crazy 4 TV, Bachelors Society...
Kedaara acquires Ice cream maker Dairy Day
Homegrown PE fund Kedaara Capital has acquired a majority stake in Dairy Classic Ice Creams (Dairy Day), a leading ice cream brand in South India. The Rs 1200-crore ($150-million) investment will also provide full exit...
Wilmington moves NCLAT in SpiceJet insolvency case
Wilmington Trust SP Services, Thursday, argued before the National Company Law Appellate Tribunal on Thursday to overturn the National Company Law Tribunal, Delhi’s January order dismissing its insolvency petition...
Hindustan Zinc may put off demerger
Hindustan Zinc Ltd (HZL) could put on hold its restructuring plan to create two separate entities for now after the government, which owns a 29.54% stake in the miner, resisted that bid. In a letter to the mines...
TCIL to sell 15% stake in Bharti Hexacom
Telecommunications Consultants India Limited (TCIL) plans to sell its stake in Bharti Hexacom in two tranches of 15% each, to meet a target set out by the Centre. “We are going ahead as per the strategy, to meet...
