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...
Mumbai-based Cliqtrade Stock Brokers buys 10% more stake in Asit C Mehta
Mumbai-based Company Cliqtrade Stockbrokers Pvt Ltd promoted by the founders of Pantomath Financial Services Group, has acquired a significant stake in Asit C Mehta Financial Services Ltd (ACMFS), a listed firm on the...
Three bidders in close fight for Rajesh LifeSpaces’ hotel business
Ahmedabad-based hospitality and restaurant group Sankalp Recreation, Kolkata’s Shri Ram Multicom and Rare Asset Reconstruction Co are the bidders remaining in the race to take over the now-defunct Mumbai-based...
Supreme Court stays NCLAT’s order on United Breweries, including CCI’s recovery proceedings
The Supreme Court stayed an NCLAT order affirming penalty of Rs 751.83 crore on Heineken’s subsidiary, United Breweries Limited, in the alleged beer cartel case. The apex court, however, directed the company to deposit...
