The Rs 750-crore deposited by Jaypee Infratech’s (JIL) parent firm Jaiprakash Associates with the Supreme Court registry was a payment towards obligation of the debt-ridden firm and should be treated as the asset...
Bain Capital looks to team up with Sunil Munjal to buy Max Financial Services
US private equity buyout group Bain Capital is looking to join hands with Sunil Munjal’s Hero Corporate Services to buy a controlling stake in Max Financial Services from Analjit Singh, said multiple people aware of the...
Patanjali Ayurved completes acquisition of bankrupt Ruchi Soya for ₹4,350 crore
Yoga guru Baba Ramdev’s Patanjali Ayurved on Wednesday made its first big acquisition when it paid ₹4,350 crore to take over soya food brand Nutrela-maker Ruchi Soya through an insolvency process. The acquisition...
NCLAT grants one more week to Patanjali Ayurved to complete Rs 4,350-crore Ruchi Soya deal
The National Company Law Appellate Tribunal (NCLAT) on Tuesday granted another extension, of one week, to Baba Ramdev-led Patanjali Ayurved for completion of Rs 4,350-crore resolution plan to acquire debt-ridden edible...
Patanjali deposits equity for Ruchi Soya acquisition
Patanjali Ayurved has deposited its equity portion in a State Bank of India (SBI) escrow account, in what is the final step before it completes payments for the acquisition of edible oil maker Ruchi Soya. The company...
SBI, other PSBs to lend Rs 4,000 cr to Patanjali for Ruchi Soya acquisition
State Bank of India (SBI) and other public sector banks have decided to lend Rs 4,000 crore to Patanjali Ayurved for the acquisition of Ruchi Soya, which was facing bankruptcy proceedings under the Insolvency and...
USV in talks with Novartis to buy Jalra Trademark for Rs. 200 Crore
Mumbai-based drugmaker USV Pvt Ltd is in advanced discussions to acquire the trademark for antidiabetes drug Jalra from Novartis for a deal valued at more than Rs. 200 crore, people aware of the development told ET. The...
Patanjali secures ₹3,200 crore loan from banks to buy Ruchi Soya
Baba Ramdev-led Patanjali Ayurved on Friday said it has already tied up loan worth ₹3,200 crore from a consortium of lenders led by State Bank of India to fund its acquisition of Ruchi Soya through insolvency process...
Amar Ujala buys majority stake in Cygnus Medicare for Rs 130 crore
Leading media firm Amar Ujala Ltd has acquired a majority stake in Cygnus Medicare, which operates a chain of super specialty hospitals, for around Rs 130 crore as part of its expansion plans in the healthcare segment...
NCLAT extends deadline to 16 Dec for implementation of Patanjali’s bid for Ruchi Soya
The National Company Law Appellate Tribunal (NCLAT) has extended till December 16 the deadline for completion of Patanjali Ayurved’s ₹4,350 crore resolution plan to acquire debt-ridden edible oil firm Ruchi Soya...
Ruchi Soya acquisition plans on track; loans secured: Patanjali
Patanjali Ayurved chief executive Acharya Balkrishna said in an interaction with ET that its acquisition plan for edible oils maker Ruchi Soya was proceeding ‘as per schedule’. Refuting reports that...
Munjal, Kothari in talks to buy 10% each in Yes Bank
Sunil Munjal, chairman of Hero Corporate Services Ltd, and Hemendra Kothari, veteran investment banker and founder of DSP Group, have held separate talks with Yes Bank Ltd to purchase stakes of 5-10% each in the cash...