India’s bankruptcy court has admitted Reliance Broadcast Network Ltd., the Big FM radio network operator under the Corporate Insolvency Resolution Process (CIRP). The Mumbai bench of the National Company Law Tribunal...
NCLT exceeds brief in RCap insolvency: Vistra ITCL
Vistra ITCL, Reliance Capital’s secured lender, has submitted to the National Company Law Appellate Tribunal (NCLAT) that the NCLT has acted beyond its jurisdiction at a stage where even signed plans have not been...
Zee gets breather as NCLAT stays insolvency process
The National Company Law Appellate Tribunal (NCLAT) on Friday granted interim relief to Zee Entertainment Enterprises Ltd (ZEEL), staying bankruptcy proceedings against the media company. This follows the National...
Telecom tycoon Sunil Mittal is seeking a stake in Paytm
Indian telecommunications tycoon Sunil Mittal is seeking a stake in Paytm by merging his financial services unit into the fintech giant’s payments bank, according to people with knowledge of the matter. Mittal seeks to...
Insurtech firm Turtlefin acquires Last Decimal to boost bancassurance vertical
Insurtech platform Turtlefin has acquired Last Decimal, an insurtech SaaS company, to expand its bancassurance business, said the firm. Turtlefin provides end-to-end tech solutions to enable insurance sales and services...
Sintex Plastics Tech admitted for insolvency on ARC plea
India’s bankruptcy court has admitted Sintex Plastics Technology under the Corporate Insolvency Resolution Process (CIRP), acting on an application filed by Asset Reconstruction Company (India) (ARC). Last year...
Axis Bank-Citibank deal to be completed by March 1
Private sector lender Axis Bank on Thursday said that the deal to acquire Citibank’s India’s consumer business and NBFC business is expected to completed by 1 March 2023. Axis Bank will acquire Citibank’s...
IBS Software acquires AFLS, enters air and ocean freight sector
IBS Software, a leading SaaS provider, has acquired Accenture Freight and Logistics Software (AFLS) that provides technology platforms to help airline and ocean transportation companies manage their freight operations...
Tata Motors lines up suitors for stake in EV business
Tata Motors has begun discussions with sovereign wealth funds and private equity investors such as UAE-based Abu Dhabi Investment Authority (ADIA) and Mubadala Investment Company, Saudi Arabia-headquartered Public...
Tata Steel acquires shares worth ₹300 cr in NINL, shareholding increases to 5.23%
Tata Steel on Wednesday announced that it has acquired shares amounting to ₹300 crore in Neelachal Ispat Nigam Ltd, which is an indirect subsidiary of the company. Tata Steel on February 21, 2023, has subscribed to...
NCLT admits IBC pleas of IndusInd against ZEE, Siti
The Mumbai bench of the National Company Law Tribunal (NCLT) on Wednesday admitted an insolvency petition against homegrown media company Zee Entertainment Enterprises Ltd (ZEE) filed by its financial creditor IndusInd...
NCLT admits HDIL firm Privilege Power and Infrastructure under insolvency process
The bankruptcy court has admitted Privilege Power and Infrastructure, an affiliate of Housing Development and Infrastructure (HDIL), under the Corporate Insolvency Resolution Process (CIRP). The Mumbai bench of the...
