Thermax on Tuesday said that the National Company Law Tribunal (NCLT) has approved the demerger of its arms Thermax Cooling Solutions and Thermax Instrumentation. “National Company Law Tribunal, Mumbai Bench vide...
IL&FS to sell stakes in three road assets as InvIT plan fails
Crisis-hit infrastructure finance firm IL&FS is set to sell its stake in three road projects as part of the resolution process after the company’s new board failed to get approvals to transfer these assets to...
CCI clears Alpha Alternatives Group stake purchase in Dilip Buildcon
Fair trade regulator Competition Commission of India (CCI) has granted approval to Alpha Alternatives Group for the acquisition of a 10 per cent stake in Dilip Buildcon, according to a notice. The CCI cleared the deal...
NCLT okays BTL EPC’s McNally Bharat offer
The bankruptcy court in Kolkata has approved the acquisition of Khaitan family-promoted listed engineering firm McNally Bharat Engineering Co by BTL EPC. McNally Bharat had admitted liabilities of ₹5,015 crore. The...
NCLT admits insolvency plea against Ansal Props’ promoter
National Company Law Tribunal (NCLT) has admitted a personal insolvency application filed by Indian Bank against realtor Pranav Ansal, the promoter of Ansal Properties and Infrastructure, as per the contents of a court...
NCLT approves Swan Energy’s loan repayment to Reliance Naval by one year
Swan Energy Limited (SEL) has received a one-year extension from NCLT for the payment of second tranche due to the lenders of Reliance Naval and Engineering Limited (RNEL). As per the resolution plan, an amount of Rs...
Zomato denies acquisition rumours of Shiprocket
Food delivery platform Zomato has rejected a news report claiming that the company will acquire startup Shiprocket for $2 billion. In a BSE filing, Zomato informed, “We have noticed that there are certain news...
Qlik acquires AI data management firm Mozaic
Swedish data analytics company Qlik said it has acquired AI-driven data management provider Mozaic Data for an undisclosed sum. Sharad Kumar, founder of Mozaic Data, will join Qlik as regional head of data integration...
Govt plans lower stake sale target in FY25, no big names
The Centre is likely to reduce its divestment target for FY25 and complete stake sales processes initiated during the current fiscal FY24, while not making any new big-ticket additions to its divestment list for the...
Zee, Sony in talks to extend merger deadline
Zee Entertainment Enterprises said on Wednesday that it was in talks with Sony Group’s India unit about extending a merger deadline to create a $10 billion media and entertainment powerhouse.Zee Entertainment...
No Sony nod yet to extend Zee merger date
The Sony-Zee mega merger still hangs in the balance. Sony Pictures Networks India (SPNI) said it hasn’t yet decided on extending the Thursday, December 21, deadline to complete the merger with Zee Entertainment...
EoI for RINL strategic sale to be invited after discussing broad contours with stakeholders: Govt
Expression of interest (EoI) for strategic sale of RINL will be invited after discussing the broad contours of the transaction with stakeholders, Parliament was informed on Tuesday. Minister of State for Finance Bhagwat...
