The National Company Law Tribunal (NCLT) has approved the acquisition of AMW Autocomponent by listed automotive wheels manufacturer Steel Strips Wheels. The company had admitted liability of over ₹1,675 crore, whereas...
Vedanta to demerge into six listed companies
Resources conglomerate Vedanta, which faces bond redemptions exceeding $3 billion over the next 18 months at its UK-based holding company, Friday said it would demerge into six listed companies to undergird the...
A Long-Drawn Battle: ZEE-SONY Merger
After the roller coaster ride, Hon’ble National Company Law Tribunal, Mumbai bench vide its order dated 10th August 2023 has approved the scheme of merger of Zee Entertainment Enterprises Limited (ZEEL) and Bangla...
Debt-laden Altice in talks to sell data centres to Morgan Stanley – Les Echos
Cable and telecoms group Altice is nearing a deal to sell its data centres in France to Morgan Stanley Infrastructure Partners, Les Echos reported on Wednesday, as the group of French-Israeli billionaire Patrick...
NCLAT issues notice to Zee Entertainment over IDBI Bank’s plea
The National Company Law Appellate Tribunal (NCLAT) on Thursday issued notice to Zee Entertainment Enterprises Ltd (ZEEL) over a petition filed by private sector lender IDBI Bank, directing it to file a reply within two...
IDBI Bank moves NCLAT against Zee; challenges NCLT order
IDBI bank has moved the National Company Law Appellate Tribunal (NCLAT) against Zee Entertainment to challenge an NCLT order, which rejected the private lender’s plea to initiate insolvency proceedings against the...
India resurgence fund in talks to acquire Ind-Swift’s API business
India Resurgence Fund (IndiaRF), an India-focused distressed and special situations investment platform sponsored by the Piramal group and Bain Capital Credit, is in talks to acquire the active pharmaceutical...
NCLT admits insolvency plea against Neptune Ventures
The National Company Law Tribunal has admitted a petition filed by Edelweiss Asset Reconstruction Company to initiate a corporate insolvency resolution process (CIRP) against real estate company Neptune Ventures &...
Compulsorily Convertible Debentures cannot be considered as “Financial Debt” to initiate CIRP
Facts of the Case: Before Initiation of CIRP Appeal is preferred by IFCI Limited (“Appellant”) under Section 61 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the ‘Code’) against the Impugned...
RAYMOND Group’s Restructuring to Re-FOCUS on its Core Businesses
For the last couple of years, it appears Raymond Limited has relentlessly been trying to simplify its structure & create value for shareholders. The group announced a couple of internal restructurings by calling a...
Duke Energy to sell Commercial Renewables unit in $2.8 bln deal
Duke Energy Corp said it has agreed to sell its unregulated utility-scale Commercial Renewables business to Brookfield Renewable in a deal valued at about $2.8 billion. Duke said it expects net proceeds of about $1.1...
Rejection of Scheme of Merger – Objections from Income Tax Authorities
Indiabulls Real Estate Limited (“Petitioner Company /Transferee Company/IBREL) filed a scheme of amalgamation of companies belonging to Embassy Group – NAM Estates Private Limited (“Non-Petitioner Company/...