Snapshot: In a landmark decision, Hon’ble Supreme Court gave clarity on “Otherwise” word in Section 45(4) which shall include revaluation of capital asset of firm by credit to partners’ capital account in their PSR...
NCLT disposes insolvency plea against Gannon Dunkerley citing settlement talk
The Mumbai bench of the National Company Law Tribunal (NCLT) has disposed of an insolvency petition filed by Canara Bank against Gannon Dunkerley & Co, as lenders are considering a settlement proposal from the...
Citi to sell Russian personal installment loan portfolio to Uralsib
Citigroup Inc said its Russian unit had agreed to sell a portfolio of personal installment loans to commercial bank Uralsib, as the major U.S. lender seeks to retreat from the country and reduce its exposure to Russia...
Blackstone in talks to buy Delhi’s Select Citywalk Mall
Nexus Malls, the Indian retail portfolio arm of the investment firm Blackstone group, is in talks to acquire Delhi’s premium mall Select Citywalk which generates the highest sales per square foot in the country...
Centre cites policy to reject union’s proposal to merge RINL with SAIL
The centre has rejected a proposal by the employees’ union of Rashtriya Ispat Nigam Ltd (RINL) for merging the company with state-owned Steel Authority of India Ltd (SAIL), Parliament was told on Tuesday. The New...
Competition Commission clears Axis Bank-Citi deal
Competition Commission has approved Axis Bank’s proposed acquisition of Citi’s consumer business in India, one of the largest deals in the country’s financial services space. Under the deal worth Rs...
Russia’s Promsvyazbank in talks to buy SMP Bank -Kommersant cites sources
Russia’s Promsvyazbank is in talks to buy fellow sanctioned lender SMP Bank and has already carried out due diligence work, the Kommersant daily reported on Thursday, citing sources. Promsvyazbank, one of...
CVC explores $2 billion sale of software firm VelocityEHS -sources
Private equity firm CVC Capital Partners is exploring a sale of VelocityEHS for as much as $2 billion, seeking to capitalize on a boom in demand for compliance software in the corporate world, three people familiar with...
ABB E-mobility acquires controlling stake in Numocity
Startup electric vehicle charging solutions provider Numocity on Wednesday said ABB’s E-mobility division has acquired a controlling stake in the company for an undisclosed sum. With the acquisition, the current...
Citi in talks to buy Deutsche Bank Mexico – Bloomberg Law
Citigroup Inc is weighing a deal to buy Deutsche Bank AG’s Mexican bank, Bloomberg Law reported on Tuesday, citing people familiar with the matter. Citi is planning to set up a new local unit in the country, and...
Okinawa Autotech to form JV with Italian electric bike maker Tacita
Okinawa Autotech on Thursday said it has partnered with Italian electric and performance bike firm Tacita to set up a joint venture for the manufacturing of futuristic scooters and motorcycles as well as powertrain for...
Internet services provider Excitel raises $11.5 million
Internet services provider Excitel has raised $11.5 million from existing and new investors based out of Europe. The funds will be used for gaining subscriber market share over the next few years, said chief executive...