A Delhi bankruptcy court admitted Go First’s request for insolvency, marking the beginning of a search for a buyer for the budget airline. The National Company Law Tribunal’s (NCLT’s) acceptance of Go First’s insolvency...
NCLT Chandigarh withholds Embassy Group companies’ merger with Indiabulls Real Estate
The Chandigarh bench of the National Company Law Tribunal (NCLT) has withheld the proposed merger of NAM Estates and Embassy One Commercial Property Developments with Indiabulls Real Estate. The merger sanctioned by...
SC says NCLAT right to reject Appu Hotels’ resolution plan
The Supreme Court has ruled an appellate bankruptcy tribunal was right in rejecting Appu Hotels’ resolution plan even as 87.3% of verified financial creditors approved the offer given by M K Rajagopal, the founder of...
Easy Trip Planners in-principally approves acquisition of certain entities
Online travel service provider Easy Trip Planners Limited, said its board of directors in-principally approved the acquisition of certain entities and companies. The board also approved the appointment of legal...
Aditya Birla Fashion to raise up to ₹800 crore for TCNS acquisition
Aditya Birla Fashion & Retail (ABFRL) will raise ₹700-800 crore in debt to help fund the acquisition of TCNS Clothing, a top company official said. “For funding, we probably need about ₹700 to 800 crore...
Sajjan Jindal group planning JSW Paints stake sale to private equity funds
Billionaire Sajjan Jindal-led JSW Group is exploring a potential stake sale in JSW Paints, said two people directly aware of the development, as it looks to build capacity and establish a countrywide presence to take on...
BetterPlace acquires fintech lending startup Bueno Finance
Fintech startup Bueno Finance has merged with BetterPlace amid a funding winter, according to a person familiar with the matter. Founded by Saurav Gandhi and Sandeep Arora in 2019, Bueno provides loans to blue-collar...
NCLT to hear BoB plea in Rel Home case
Reliance Home Finance Ltd’s lenders, led by Bank of Baroda, got a relief with the National Company Law Appellate Tribunal (NCLAT) overturning a May 2021 order of the National Company Law Tribunal (NCLT) on the defaults...
Runwal buys out GIC’s entire 50% stake in Mumbai’s R City Mall
Realty major Runwal has bought out Singapore’s sovereign wealth fund GIC’s entire 50% stake in their joint retail property R City Mall for around Rs 1,000 crore to get complete control of the asset in Mumbai’s Ghatkopar...
Reliance shareholders and creditors approve demerger of financial services arm
Billionaire Mukesh Ambani-led Reliance Industries Limited’s shareholders, with its secured and unsecured creditors, on May 4 permitted the demerger of the company’s financial services firm – Reliance Strategic...
HDFC receives multiple bids for Credila stake
Housing Development Finance Corp. (HDFC) has received several bids for a stake sale in education loan subsidiary HDFC Credila Financial Services, a senior executive said on Thursday. The mortgage lender needs to pare...
NCLT reserves order on Go Air
A National Company Law Tribunal principal bench has reserved its decision on a petition filed by Go First to initiate voluntary insolvency proceedings and an interim moratorium to prevent seizure of 26 aircraft with...
