The NCLAT has allowed an appeal by Lyka Labs, overturning a previous order from the NCLT that had rejected its insolvency plea against Modi Lifecare Industries due to unpaid royalties stemming from a technical guidance...
National News
Groww promoter group sells 0.23% stake for around Rs 250-260 crore
The promoter group at wealthtech startup Groww has sold around 0.23% stake in the company for approximately Rs 250-260 crore over the last few days, according to estimates based on stock exchange disclosures. Groww was...
How JSW Energies’ Rs 3,150-crore JSW Steel stake sale will help lower debt, Jefferies explains
Jefferies has turned more constructive on JSW Energy after its Rs 3,150 crore stake sale in JSW Steel to GQG and SBI Mutual Fund, saying the transaction should help improve leverage metrics and support the company’s...
TVS Venu, Shruti Lohia-promoted firms to buy minority stakes in Jana Small Finance Bank
A family enterprise of TVS Motor Company chairman emeritus Venu Srinivasan and another firm owned by the daughter of Indorama Corporation founder SP Lohia will acquire a 14.5% stake in Jana Small Finance Bank. The TVS...
PFC board clears next step for REC merger, seeks govt approval
Power Finance Corporation has moved a step closer to its proposed merger with REC Limited after its board approved seeking formal approval from the President of India for the transaction. In an exchange filing, PFC said...
NCLAT upholds separate insolvency processes for Videocon Industries and Videocon Oil Ventures
Appellate tribunal NCLAT has upheld separate insolvency proceedings for two Videocon group entities — Videocon Industries Ltd (VIL) and Videocon Oil Ventures Ltd (VOVL) — while setting aside an earlier NCLT...
Only Ambuja in fray for Jaypee Cement, submits Rs 580 crore bid
Adani Group-backed Ambuja Cements has submitted a Rs 580-crore offer to acquire bankrupt Jaypee Cement Corporation. The only other bidder, My Home Group, exited the process after submitting Rs 300-crore bid, reports...
Aspect Global Ventures Acquires TDIL Through NCLT Resolution Process
Aspect Global Ventures Pvt. Ltd has acquired Township Developers India Pvt. Ltd. (TDIL) through the National Company Law Tribunal (NCLT) resolution process, marking a strategic expansion of its real estate portfolio...
ATS Nobility Estates exits insolvency
The National Company Law Tribunal has allowed the withdrawal of corporate insolvency resolution proceedings against ATS Group’s Nobility Estates Private Limited, the developer of the premium residential project Le...
Aditya Birla group, KKR left in race for Sprng Energy
The Aditya Birla Group and private equity firm KKR are in a two-horse race to acquire Sprng Energy from oil giant Shell after binding financial bids were submitted by four contenders interested in acquiring the...
Dhan parent enters insurance broking with GreenLife Insurance acquisition
Raise Financial, parent of online stock broking platform Dhan, has acquired GreenLife Insurance, its third buyout in just over a year, marking its entry into insurance broking as wealthtech firms with deep pockets and...
Anant Raj to evaluate demerger of data center business, appoints Anish Sarin as director
Anant Raj Ltd has constituted a committee to evaluate potential demerger for the data center business and has appointed Anish Sarin, Grandson of Ashok Sarin as Director. The company reported significant growth in...
