JSW Steel will acquire flat-steel producer National Steel and Agro Industries (NSAIL) through the bankruptcy court for a cash consideration of ₹621 crore through its wholly-owned subsidiary JSW Steel Coated Products...
Embassy Property plans to divest assets soon to pare debt by over 30%
Embassy Property Development, a leading real estate firm, intends to slash its debt of ₹8,800 crore by more than a third in the upcoming two quarters by divesting specific assets, including its office park in Chennai...
Hydropower mega-merger proposal likely next month
State-owned hydropower company NHPC Ltd is likely to submit a proposal next month to merge two other public sector hydro companies, THDC India Ltd and North Eastern Electric Power Corp. Ltd (Neepco) with itself, said...
NCLT rejects plea against Zee
In a significant relief to broadcaster Zee Entertainment Enterprises, the Mumbai bench of the National Company Law Tribunal (NCLT) on Friday rejected an insolvency petition filed against it by IDBI Bank. On 15 December...
JioCinema, Voot merger in final stage as cos await IPL end
The merger between Viacom18 Media Pvt Ltd-owned video streaming app Voot and JioCinema is in the final stages, said three people in the know. The company is waiting for the Indian Premier League (IPL) season to...
NCLT approves Innova Captab’s resolution plan for Sharon Bio
The National Company Law Tribunal (NCLT) Mumbai bench has approved Rs. 256.4 crore resolution plan of Innova Captab for Sharon Bio-Medicine in its order on May 17. Innova Captab resolution plan was approved by 79.28%...
Eiko Lifesciences acquires 25.01% stake in Reflux Pharmaceuticals
Eiko LifeSciences Limited (ELL), announced that it has acquired a 25.01 per cent stake in Reflux Pharmaceuticals Private Limited (RPPL), a pharmaceutical company that specialises in manufacturing and exporting active...
NCLT admits Tulip Hotels into insolvency
The National Company Law Tribunal (NCLT) has admitted JC Flowers Asset Reconstructions’ application to initiate insolvency proceedings against Tulip Hotels over defaults of ₹900 crore. The application was...
Sterling Oil admitted for bankruptcy
The bankruptcy court has admitted Sterling Oil Resources Ltd under the corporate insolvency resolution process following a plea by its financial creditor, State Bank of India (SBI). SBI had moved the bankruptcy court...
NCLAT set aside insolvency proceedings against McLeod Russel
The National Company Law Appellate Tribunal (NCLAT) has set aside the insolvency proceedings against leading bulk tea producer McLeod Russel following a settlement between the promoter and IL&FS Infrastructure Debt...
SBI Funds Management gets RBI’s nod to acquire 9.99% stake in HDFC Bank
State Bank of India (SBI) Funds Management on Wednesday received the approval of the Reserve Bank of India (RBI) to acquire up to 9.99 per cent stake in HDFC Bank. HDFC Bank in an exchange filing said, “RBI vide...
Pricol files objection with CCI to resist Uno Minda’s takeover bid
Pricol, a Coimbatore-based driver information systems maker, has filed an objection with the competition regulator to block Minda Corp’s move to buy up to 24.5% in the company, Pricol told stock exchanges on Wednesday...
