The National Company Law Appellate Tribunal (NCLAT) transferred pleas filed by Axis Finance and IDBI Bank challenging the Zee-Sony merger to the bench of the chairperson, Ashok Bhushan. NCLAT’s move comes as the...
Lenskart acquires AI-powered video analytics startup Tango Eye
Hopping on to the AI (artificial intelligence) bandwagon, omnichannel eyewear retailer Lenskart announced it will acquire Tango Eye, an AI-based computer vision startup. The Chennai-based startup already counts Lenskart...
Zee, Sony merger energised as SAT lifts ban on Punit Goenka
The Securities Appellate Tribunal (SAT) overturned a regulatory ban on Punit Goenka, managing director and chief executive of Zee Entertainment Enterprises, that prevented him from holding a directorship or top...
NCLT admits plea against Ansal Properties unit Serene Residency
The bankruptcy court in New Delhi has admitted the Serene Residency Group Housing Project at Sector ETA II after it defaulted on its dues of about ₹ 257 crore. The company is a subsidiary of listed real estate firm...
AU Small Finance Bank to acquire Fincare Small Finance Bank in share deal
AU Small Finance Bank is all set to acquire Fincare Small Finance Bank in an all share deal and merge it with itself, subject to regulatory approvals. As per the agreement between the two, shareholders of Fincare Small...
GST body probes Godrej’s ₹2,825 crore acquisition of Raymond’s consumer goods business
The Directorate General of GST Intelligence (DGGI) is probing a recent deal in which Raymond sold its consumer goods business to a Godrej unit, sources aware of the matter told ET. The sources cited said the GST...
Radio Mirchi, Orange in race to acquire Big FM
Leading FM Radio network Radio Mirchi, a part of Entertainment Network India Limited (ENIL) and Radio Orange have bid Rs 251 crore to acquire BIG FM Radio network, sources said. Haryana-based Sapphire FM is the other...
Swan Energy-Hazel Mercantile make payment of first tranche to acquire Anil Ambani’s Reliance Naval and Eng
Swan Energy paid Rs 231.4 crore to lenders, the first full tranche of payment for acquiring Anil Ambani- promoted Reliance Naval and Engineering Ltd in a bankruptcy auction, the company said in a statement to the Bombay...
NCLT admits personal insolvency application against Kishore Biyani
Mumbai’s bankruptcy court on Friday admitted Axis Trustee Services’ application to initiate a personal insolvency process against Future Group promoter, Kishore Biyani, said people aware of the development...
NCLT dismisses insolvency petition filed against Bajaj Hindusthan Sugar
National Company Law Tribunal has dismissed an insolvency petition filed against Bajaj Hindusthan Sugar Limited as per an order uploaded on its website late Wednesday. The petition was originally filed by State Bank of...
Rajiv Rattan buys Lone Star’s stake in NBFC for Rs 611 crore
Ending a long and bitter dispute, Rajiv Rattan, one of the founding members of Indiabulls, has acquired a 50% stake of its joint venture (JV) partner Lone Star Funds in RattanIndia Finance for Rs 611 crore (about $73...
Jindal India throws its hat in the ring for Future Enterprises by submitting debt resolution plan
Jindal (India), promoted by the family that controls Jindal Poly Films, has submitted a debt resolution plan for debt-laden Future Enterprises under the Insolvency and Bankruptcy Code (IBC) process, said people briefed...
