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/...
Dalmia Bharat inching its way to become Pure-Play Cement Producer
Dalmia Bharat Limited (“DBL”) has created a Vision 2031 for capacity creation plan of 110 –130 million tons from the existing capacity of 40 million tons of cement manufacturing. In a move to fund its ambitious plan...
NCLT Judgement on Treatment of CCD in case of Company goes under CIRP Process under IBC
Agritrade Power Holding Mauritius Limited (Applicant) filed an application with Hon’ble NCLT Mumbai Bench against the rejection of its claim by the Respondent/Resolution Professional of SKS Power Generation...
NCLT OKs resolution plan worth ₹250 crore for Unimark Remedies
The National Company Law Tribunal in its order approved the resolution plan for Unimark Remedies, which was submitted by a consortium of Asset Reconstruction Company (India), Intas Pharmaceutical and Shamrock...
Whether Income Tax Dues are to be considered as Secured Creditor for the Purpose of CIRP Process
Income Tax Department (Appellant) preferred an appeal against decision of Hon’ble NCLT (National Company Law Tribunal) Guwahati Bench in the matter of Assam Company India Ltd (Respondents) vide Company Appeal (AT)...
SpiceJet open to sell more stakes in airline biz
Low-fare airline SpiceJet is open to selling more shares to reduce its liabilities, chairman and managing director Ajay Singh said. “We are flexible. We will talk to our partners and see what it is they prefer to do...
NCLAT set aside Nike India’s plea to initiate insolvency against its dealer
The National Company Law Appellate Tribunal (NCLAT) dismissed a petition filed by Nike India to initiate insolvency proceedings against one of its dealers. A two-member NCLAT bench upheld the orders of the National...
Rejection of Scheme By NCLT: Objection of Regional Director on grounds of non-compliance
Hotel City Plaza Private Ltd ( “Appellant 1” or Petitioner Company 1 or “Transferor Company”) Trivandrum Apollo Towers Private Ltd ( “Appellant 2” or Petitioner Company 2 or “Transferee Company”) have preferred appeal...
Pawan Hans sale set to be junked
The government is set to scrap the winning bid for the sale of helicopter service provider Pawan Hans and may not seek fresh bids for the defence public sector enterprise, thus scrapping its disinvestment altogether...
Dell acquires Cloud services startup Cloudify for ‘$100 million’
Dell Technologies has acquired Israeli startup Cloudify that is known for cloud orchestration and infrastructure automation. According to reports, Dell spent close to $100 million in buying the startup to boost its its...
Indi Grid to buy Khargone Transmission for ₹1,497cr
India Grid Trust (IndiGrid) will acquire a 100% equity stake in Khargone Transmission at an enterprise value of around ₹1,497.5 crore, the company said Monday in a regulatory filing. “IndiGrid signed a share...
Finolex may hive off divisions into separate entities in future
Finolex Cables, one of India’s oldest electrical and telecom cable makers, plans to expand into consumer electrical and telecommunications, aiming to double revenue in the coming years. In an interview, executive...