Bengaluru-based fintech firm Perfios has acquired Chennai-based open finance platform Fego.ai, two people aware of the development told Mint. The discussions started during Global Fintech Fest 2023 in Mumbai recently...
StrideOne in talks to acquire EV tech startup MoEVing
StrideOne Capital Pvt. Ltd, the non-banking financial company (NBFC) set up by the founders of venture debt fund Stride Ventures, is in talks to acquire MoEVing Urban Technologies Ltd, the operator of the electric...
Insolvency & Bankruptcy Code cannot be used as a tool for recovery; says NCLT
Insolvency & Bankruptcy Code (IBC) cannot be used as a “tool for recovery”, the NCLT observed while dismissing a plea by two unit buyers of a commercial complex. The Principal Bench of the National...
NCLAT stays bankruptcy proceedings against Ind-Swift
The National Company Law Appellate Tribunal (NCLAT) granted a stay on initiating bankruptcy proceedings against Ind-Swift Ltd, an affiliate company of Ind-Swift Laboratories, which is selling a part of its pharma...
Future Retail’s creditors extend voting timeline on SpaceMantra’s bid to Sept 30
The Committee of Creditors (CoC) to Future Retail (FRL) have extended the voting period for the third time to decide the winning bidder to acquire the debt-laden company. The timeline has now been extended till...
Supreme Court dismisses appeal against ND Art’s insolvency
The Supreme Court dismissed a petition by Naina Desai, widow of late art director Nitin Desai, seeking a review of the National Company Law Appellate Tribunal (NCLAT) order allowing bankruptcy proceedings against their...
Nod for Zee-Sony deal violates Sebi order, Axis tells NCLAT
Axis Finance Ltd has told an appeals court that the National Company Law Tribunal (NCLT) approved the Zee-Sony merger in “contravention” of a regulatory order against Punit Goenka, former managing director and...
Peepul Capital hires Avendus to sell stake in Unibic Foods
Mid-market private equity firm Peepul Capital is looking to divest its stake in Unibic Foods India, an Indian branch of Australian premium cookie manufacturer Unibic Biscuits. Peepul has engaged Avendus Capital to...
Axis Finance approaches NCLAT against NCLT approval of Zee-Sony merger
Axis Finance has filed an appeal in the National Company Law Appellate Tribunal (NCLAT) against the National Company Law Tribunal’s (NCLT) nod to the Zee-Sony merger, the company said on Thursday. This comes just...
Cabinet clears Advent’s acquisition of Suven Pharma for Rs 9,589 crore
The Cabinet Committee on Economic Affairs headed by Prime Minister Narendra Modi on Wednesday approved the FDI proposal for foreign investment of up to Rs.9589 crore in Suven Pharmaceuticals Limited by private equity...
Reliance Capital insolvency: NCLT rejects Torrents’s plea, to hear Hinduja’s resolution plan approval on September 26
The National Company Law Tribunal (NCLT) will hear on September 26 the resolution plan for debt-ridden Reliance Capital submitted by Hinduja Group firm Indusind International Holdings Ltd (IIHL) as Torrent...
Dalmia Bharat’s deal to buy Jaypee’s cement assets hits a legal hurdle
Dalmia Bharat’s acquisition of Jaiprakash Associates’ cement assets for ₹5,666 crore has hit a legal hurdle due to a shareholder dispute at one of the joint-venture plants that was to be acquired as part of...
