The National Company Law Tribunal (NCLT) has directed the removal of Prag Distillery Pvt. Ltd., a wholly owned subsidiary of Tilaknagar Industries Limited, from the liquidation proceedings. In addition, the NCLT order...
CORONA remedies buys Sanofi India’s ortho brand Myoril
Ahmedabad-based pharmaceutical company CORONA Remedies has acquired leading muscle relaxant brand Myoril from Sanofi India, for Rs234 crore. Corona has acquired Myoril (Thiocolchicoside) and its extensions such as...
Religare may sell 6-7% of its health insurance business
Religare Enterprises Ltd is in early talks with private equity (PE) investors to sell 6-7% in its subsidiary Care Health Insurance Ltd to raise as much as ₹1,200 crore, three people close to the matter said. The talks...
HDFC-HDFC bank merger likely to be effective July 1
The merger of HDFC Corp with the country’s largest private lender HDFC Bank will likely take effect July 1, chairman of India’s mortgage-lending pioneer Deepak Parekh said Tuesday. The combined entity will...
Competition Comm issues show cause notice on Air India-Vistara merger deal
Competition Commission of India (CCI) has issued a show cause notice to the parties with respect to the proposed merger of Tata Group airlines Vistara and Air India, according to a source. The fair trade watchdog issues...
CCI approves acquisition of TCNS Clothing by Aditya Birla Fashion
The Competition Commission of India (CCI) approved the acquisition of TCNS Clothing Co Limited by Aditya Birla Fashion and Retail Limited. The proposed combination involves acquisition of 51 per cent of the expanded...
SBI secures approval to acquire entire 20% stake of SBI Cap in SBI Pension Funds
Largest public sector lender in India, SBI on Tuesday received approval of the Executive Committee of the Central Board (ECCB) to acquire the entire 20% stake held by SBI Capital Markets in SBI Pension Funds. In another...
HDFC buys ₹992 cr stake in life business
Leading mortgage financier HDFC Ltd on Tuesday purchased 1.5 crore shares of HDFC Life Insurance Company Ltd for ₹992.6 crore through a bulk deal on the NSE. The deal values the insurer at ₹1.43 lakh crore. The shares...
Insolvency plea against Essel entity Cyquator dismissed
The National Company Law Tribunal (NCLT) has dismissed IDBI Trusteeship Services’ petition seeking Corporate Insolvency Resolution Process (CIRP) proceedings against Essel Group entity Cyquator Media Services for...
Zee’s plea against Sebi order: SAT adjourns hearing
The Securities Appellate Tribunal (SAT) adjourned the hearing on Essel Group chairman Subhash Chandra and ZEE managing director and CEO Punit Goenka’s plea to Tuesday. The Securities & Exchange Board of India...
Infra.Market to acquire 92% stake in Strata Geosystems at Rs 910 cr
Manufacturing unicorn Infra.Market will acquire around 92 per cent stake in geosynthetics company Strata Geosystems India from US-based Glen Raven Technical Fabrics LLC at an enterprise value of Rs 910 crore, a senior...
L&T Finance may sell its wholesale book to banks, NBFCs: Report
L&T Finance Holdings is looking to sell its wholesale loan book to interested banks, non-banking finance companies (NBFC) and funds, according to media report. L&T Finance is aiming to become a 100 percent...
