Banks led by Indian Overseas Bank (IOB) have given the go-ahead to transfer the Rs 873 crore debt of Chennai-based Rainbow Papers to Rare Asset Reconstruction Company (Rare ARC) for Rs 160 crore or an 18% recovery, more...
Zee-Sony merger: IDBI Bank files appeal against NCLT order
IDBI Bank has moved the appellate tribunal to challenge the National Company Law Tribunal’s approval for Sony-Zee merger, a move that could delay the big-ticket deal that has been approved by stock exchanges and the...
NCLT suggests SpiceJet settle issues with aircraft lessors
The National Company Law Tribunal (NCLT) suggested that SpiceJet settle the issues with lessors that have sought initiation of insolvency proceedings against it. The tribunal’s suggestion came against the backdrop...
Lighthouse Advisors India sells 1.3% stake in Bikaji Foods for Rs 156 cr
Mumbai-based Lighthouse Advisors India on Tuesday divested a 1.3 per cent stake in Bikaji Foods International for nearly Rs 156 crore through an open market transaction. Lighthouse Advisors through its investment...
Airtel unit Nxtra buys stakes in green energy projects
Bharti Airtel Monday said that it has signed definitive agreements to acquire stakes in the renewable energy project companies Continuum MP WindFarm Development Pvt. Ltd. and Egan Solar Power Pvt. Ltd, established by...
Mirae Asset arm acquires 11-acre pre-leased warehouse in Bhiwandi near Mumbai
The real estate market has historically been the asset class that created the most wealth for investors but the need for specialised investment know-how and large capital investment has restricted the asset class –...
IFCI gets binding bid from ACRE for Barwa Adda debt
IFCI is in the process of selling a rupee term loan of the Barwa Adda Expressway project, aiming to recover 45% of the debt. The lender has put up the ₹290 crore debt for sale, with a reserve price of ₹130 crore based...
Government invites bids for asset values for IDBI Bank disinvestment
The government has invited bids to engage an asset valuer for the strategic disinvestment of IDBI Bank. The government and the LIC are selling about 61% stake in IDBI Bank and multiple expressions of interest (EoI) for...
CCI clears Air India-Vistara merger subject to certain conditions
Competition Commission approved the proposed merger of Air India and Vistara subject to certain conditions. The development is a major step forward for Tata Group in consolidating its aviation business. In a post on...
Vote on Space Mantra’s Future Retail bid likely soon
Lenders to the debt-laden Future Retail (FRL) have put to vote the sole plan to take over the company by Space Mantra, promoted by former NBCC chairman Anoop Kumar Mittal, even as they are uncomfortable with the poor...
Torrent in top gear to close out Cipla buyout, in talks with PEs, banks for funds
Torrent Pharma is cranking up its efforts to put together financing to buy out the promoter family of Cipla, said several people with knowledge of the matter, emerging as a key contender to conclude the largest pharma...
NCLAT issues notice to Zee Entertainment over IDBI Bank’s plea
The National Company Law Appellate Tribunal (NCLAT) on Thursday issued notice to Zee Entertainment Enterprises Ltd (ZEEL) over a petition filed by private sector lender IDBI Bank, directing it to file a reply within two...
