State Bank of IndiaBSE -1.14 %, the country’s biggest bank, has been authorised to refer Essar SteelBSE 0.41 %, Bhushan SteelBSE 1.52 %, and Electrosteel to the bankruptcy court raising the possibility that some of...
Sebi eases M&A norms for distressed firms
The Securities and Exchange Board of India (Sebi) relaxed some rules on Wednesday to hasten the resolution of stressed assets in bank balance sheets. The regulator has exempted buyers of shares in distressed companies...
Lanco Infratech first from ‘Blacklist’ to face bankruptcy action
Lanco InfratechBSE -9.57 %, the power and roads builder, became the first company to face bankruptcy proceedings among the dozen identified by the regulator as IDBI BankBSE -0.35 % has decided to recover its dues by...
Minority shareholders challenge India Cements merger plan at NCLAT
Minority shareholders of Trinetra Cements, a subsidiary of Chennai-based Cements major India Cements, have moved the National Company Law Appellate Tribunal(NCLAT), challenging the plan to merge the two companies. Delhi...
Bhushan, Essar Steel among 12 cos being moved to insolvency courts: Sources
The Reserve Bank of India (RBI) has asked lenders to initiate bankruptcy proceedings against a dozen companies, including Essar Steel, Bhushan Steel Ltd, Monnet Ispat and Energy Ltd, sources with direct knowledge of the...
Cabinet may consider Brookfield’s plan to buy RCom’s stake in Reliance Infratel next week
The Union Cabinet may next week consider Canada-based Brookfield Infrastructure Partners’ Rs 11,000-crore investment proposal to acquire Reliance Communications’ stake in its telecom tower unit Reliance Infratel, a...
Jaypee, UltraTech Cement looking to seal Rs16,189 crore deal by July
The Aditya Birla group’s Ultratech Cement Ltd’s Rs16,189 crore acquisition of the cement business of Jaiprakash Associates Ltd is expected to be completed soon, a top group executive said in an interview. “The...
CLASS ACTION SUIT
Class Action Suit became reality for Indian investor(s)/depositor(s) under new Companies Act, 2013 which is also known as Representative Suit. This kind of lawsuit is very popular in countries like USA, UK, Singapore...
AIRTEL acquires Telenor
Bharti Airtel is engaged in the business of providing global telecommunications with operations in 17 countries across Asia and Africa. In India, the Transferee Company products Offerings include 2G, 3G and 4G wireless...
CCI approves Dish TV-Videocon merger
Zee Group’s direct-to-home (DTH) service arm Dish TV has got clearance from the Competition Commission of India (CCI) for its proposed merger with Videocon Group’s DTH arm Videocon d2h. “The CCI has...
Mergers and acquisitions under Bankruptcy Code: some concerns
By encouraging a transparent and time-bound sale of assets and businesses of defaulting corporate debtors, the Insolvency and Bankruptcy Code, 2016 (Bankruptcy Code) promises a fillip in merger and acquisition (M&A)...
RCom gets Sebi nod for merger with Aircel, Dishnet Wireless
Anil Ambani-promoted Reliance Communications Ltd (RCom) has obtained approval from capital markets regulator Securities and Exchange Board of India (Sebi) to spin-off and merge its wireless division with Aircel Ltd and...