The government has decided to exempt mergers of regional rural banks (RRBs) ordered by it from the requirement of clearance from the Competition Commission of India, a senior official said, an indication that the next...
DS Group completes acquisition of Viceroy Hotels
The Dharampal Satyapal (DS) Group has completed the acquisition of Viceroy Bangalore Hotels Pvt. Ltd as part of the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, said a lawyer aware...
IDBI Bank moves NCLAT on ZEE
IDBI Bank on Thursday moved the National Company Law Appellate Tribunal (NCLAT), challenging a National Company Law Tribunal order of 19 May, that rejected IDBI Bank’s plea to initiate insolvency proceedings against Zee...
L&T Innovation Campus board approves merger with L&T Seawoods
The Board of Directors of L&T Innovation Campus (Chennai) Limited (LTICCL) at its meeting held on July 19, 2023, has approved a scheme of arrangement for merger of LTICCL with L&T Seawoods Limited (LTSL). LTICCL...
NCLT admits insolvency plea against Neptune Ventures
The National Company Law Tribunal has admitted a petition filed by Edelweiss Asset Reconstruction Company to initiate a corporate insolvency resolution process (CIRP) against real estate company Neptune Ventures &...
Bikaji Foods International acquires 49% equity stake in Bhujialalji
Bikaji Foods International Ltd on Wednesday acquired a 49 per cent stake and 396 compulsorily convertible debentures (CCDs) in Bhujialalji Pvt Ltd, the company said in a BSE filing. The deal comprised 9,608 equity...
Vedanta makes a fresh bid to sell steel biz ESL
Billionaire Anil Agarwal’s Vedanta Ltd is seeking to sell ESL Steel Ltd, formerly known as Electrosteel Steels Ltd, after acquiring the asset for ₹5,320 crore through a bankruptcy resolution process five years ago, two...
NHPC eyes IPO, stake sale of clean energy arm
State-run NHPC Ltd plans to take its clean energy subsidiary NHPC Renewable Energy Ltd (NREL) public or sell its stake to strategic investors through private placements in two-three years, Rajendra Prasad Goyal...
Hindustan Zinc stake sale likely to be delayed by government: Report
Indian government may delay its decision to sell its stake in Hindustan Zinc until a turnaround in the sector’s fortunes, following the advise of merchant bankers, two government sources told Reuters. However, one...
NCLAT stays insolvency proceedings against Container Corporation of India
The National Company Law Appellate Tribunal (NCLAT) has stayed the insolvency proceedings initiated against Container Corporation of India. On July 12, the New Delhi-based Principal bench of the National Company Law...
Aditya Birla ARC leads race for RPower unit
The race for Vidarbha Industries Power (VIPL), a subsidiary of Reliance Power, is heating up with three more companies, including Aditya Birla Asset Reconstruction Company and Reliance Asset Reconstruction Company...
NCLT grants Punj Lloyd liquidator extension till July 23 for dissolution
The National Company Law Tribunal allowed the liquidator in the Punj Lloyd case time till July 23 for the liquidation of the company. The liquidator can file a fresh application after July 23 for seeking more time, the...
