The Supreme Court on Monday dismissed two Future Group companies’ appeals against a debt recovery tribunal (DRT) order on July 31 that restrained them from alienating their assets worth ₹4,478.22 crore in recovery...
NCLAT to hear SREI Infra promoter’s plea on 4 October
The National Company Law Appellate Tribunal (NCLAT) on Monday deferred hearing in a plea in the insolvency case of SREI Infrastructure to 4 October after the company sought time to submit a rejoinder to a response by...
Burman family to raise stake in Religare via $255 million open offer
Burman family firms MB Finmart Pvt Ltd, Puran Associates Pvt Ltd, VIC Enterprises Pvt Ltd, and Milky Investment & Trading Company have announced an open offer to acquire up to 26% in Religare Enterprises Limited...
Sterlite Power acquires Beawar Transmission to develop power project in Rajasthan
Sterlite Power said it has acquired Beawar Transmission Ltd for developing an electricity transmission project in Rajasthan. Beawar Transmission is a Special Purpose Vehicle (SPV) of REC Power Development and...
GG Engineering, Integra Essentia get board approvals to execute merger plan
The board of GG Engineering Ltd has approved a merger plan of the company with Integra Essentia Limited, which is in the steel and renewable energy business. The proposal remains subject to several other necessary...
Air India, Vistara merger: Creditors to vote on merger proposal on Sept 23
Tata-owned Air India and Vistara have asked for permission from their creditors to merge the two airlines. On Thursday, The Economic Times (ET) reported that creditors will vote on the proposal on September 23. Sources...
Nirma to buy Glenmark Life Sciences for ₹5,651 crore
Nirma Ltd has agreed to buy 75% of Glenmark Life Sciences Ltd for ₹5,651.5 crore in a deal that values the latter at ₹7,535.4 crore. Mint reported first on 15 August that the cement-to-detergent maker was the sole...
Tata Consumer leads race for maker of Ching’s Secret, values co at Rs 5,500 cr
Tata Consumer Products Ltd (TCPL) has emerged as the frontrunner to acquire Capital Foods Pvt Ltd, the maker of condiments, food products and ingredients under the Ching’s Secret and Smith & Jones brands...
Manipal completes Kolkata’s AMRI Hospitals acquisition
Manipal Hospitals, the second-largest hospital chain in India, has completed its acquisition of 84% stake in AMRI Hospitals Ltd. The acquisition fits into the growth strategy of Manipal Hospitals to have a larger...
Neuberg Diagnostics completes ARL, Supratech merger, IPO in works
Neuberg Diagnostics Pvt Ltd has completed the merger of Neuberg Supratech Reference Laboratory, Ahmedabad, and Neuberg Anand Reference Laboratory, Bengaluru, thereby setting the ball rolling for its IPO plans, the...
CCI clears acquisition of 11% of TVS Credit Services by Premji Invest
Fair trade regulator CCI said it has cleared the proposed acquisition of about 11 per cent stake in TVS Credit Services Ltd by PI Opportunities Fund-I Scheme-II (PIOF-II) and certain individuals. PI Opportunities Fund-I...
HDFC AMC gets RBI approval to acquire up to 9.5% stake in Karur Vysya Bank, DCB Bank
The Reserve Bank of India (RBI) has approved HDFC AMC to acquire up to 9.5% of Karur Vysya Bank’s share capital or voting rights, subject to conditions. “Pursuant to Regulation 30 of SEBI (Listing Obligations and...
