The NCLT has approved the resolution plan by Ace Infracity Developers for the debt-ridden 3C Homes. The NCLT bench observed the resolution plan submitted by Ace Infracity Developers has been approved by the Committee of...
Kedaara in talks with Yes Bank for sale of Spandana Sphoorty
Private equity investor Kedaara Capital, the biggest shareholder of microfinance lender Spandana Sphoorty Financial, has revived plans to sell off the company and has been in discussions with Yes Bank to explore an...
KKR unit plans to buy road assets from PNC for $1 billion
KKR’s roads platform Highways Infrastructure Trust is in talks to acquire a portfolio of 12 road projects from Agra-based construction firm PNC Infratech for an enterprise value of about ₹9,000 crore (about $1.1...
PNB, LIC, SBI & BoB look to seek bids for UTI AMC stake, Tata Group expected to put in a fresh bid
Four state-owned financial entities – Punjab National Bank, Life Insurance Corporation of India, State Bank of India, and Bank of Baroda – that together own just over 45% of UTI Asset Management Company...
Inox Wind Energy soars 19% on board’s nod for merger with Inox Wind
Shares of Inox Wind Energy rallied 19 per cent to hit a record high of Rs 2,150, while Inox Wind slipped 5 per cent to Rs 138.50 after the board approved merger with Inox Wind Energy. Inox Wind, India’s leading wind...
O2 may buy Jakson’s green power assets
EQT- and Temasek-backed O2 Power is in talks with Jakson Group to purchase 120 MW of solar power assets of Jakson Group at an equity value of ₹130 crore, said two people aware of the development. The enterprise value of...
NCLT adjourns the Wilmington Trust insolvency plea against SpiceJet
The National Company Law Tribunal, in the petition filed by aircraft lessor Wilmington Trust SP Services (Dublin) Ltd for initiating the corporate insolvency resolution process, adjourned the matter on Monday. The...
Lenders take full control of Go First resolution process, replace key bankruptcy officials
Lenders to Go First Airlines are seeking to take full control of the carrier’s resolution process at the National Company Law Tribunal (NCLT), having replaced key bankruptcy-related officials appointed by the...
NCLT rejects resolution plan of Anirudh Agro Farms for Viceroy Hotels: Report
The NCLT has reportedly rejected the resolution plan of Anirudh Agro Farms for Viceroy Hotels following the expiry of bank guarantees and directed the continuation of the corporate insolvency resolution process (CIRP)...
VLCC to acquire D2C men’s grooming brand Ustraa through strategic merger
Beauty and skincare company VLCC is acquiring direct-to-consumer men’s grooming brand Ustraa through a combination of secondary buy-out and share swap, the company said on Friday. Post merger, VLCC will make further...
Sarda Energy emerges as top bidder for SKS Power
Sarda Energy & Minerals has emerged as the highest bidder for SKS Power Generation (Chhattisgarh) Limited with a ₹1,800 crore offer that covers 100% of the outstanding dues of the lenders of the company that is...
Allcargo Logistics closes 30% stake purchase from KWE in Gati subsidiary
Allcargo Logistics said it has completed the acquisition of 1.50 lakh shares, or 30% stake, in Gati-Kintetsu Express (GKEPL) for Rs 406.71 crore. Allcargo’s subsidiary, Gati already holds 70% stake in GKEPL. “With...
