The Mumbai bench of the National Company Law Tribunal (NCLT) has admitted city-based Four Care Hospital under the Corporate Insolvency Resolution Process (CIRP) in an application filed by Standard Chartered Bank. The...
LIC gets RBI approval to acquire 9.99% holding in HDFC Bank
The Reserve Bank of India on Thursday approved state-run insurer Life Insurance Corporation of India’s (LIC) application to acquire a 9.99% aggregate holding of paid-up share capital in HDFC Bank. “Pursuant...
Burmans get CCI approval to buy stake in Religare
The Competition Commission of India gave its approval for the acquisition of a 5.27% stake in Religare Enterprises by entities controlled by the Burman family, as well as a subsequent open offer to buy up to another 26%...
SAT Order on ZEEL Directors
SEBI’s Interim Order on Zee Entertainment Enterprises Limited According to the web search results, SEBI passed an interim order against Zee Entertainment Enterprises Ltd (ZEEL) and its promoters on June 12, 2023, vide...
Bharti Airtel Services to acquire 97.1% stake in Beetel Teletech
Bharti Airtel Services, a wholly-owned subsidiary of Bharti Airtel, has entered into an agreement for the acquisition of 49.45 lakh shares or 97.1 per cent stake in Beetel Teletech, another Bharti Group company...
Japan’s Monex to buy majority stake in 3iQ for $39.8 million
Japan-based brokerage firm Monex Group said it will acquire a majority stake in Canada’s 3iQ Digital Holdings for $39.8 million, to boost its appeal to crypto-hungry institutional investors. The deal underscores a...
NO TDS on Sale of Property by Liquidator under the IBC, 2016?
Case Law: Company Appeal (AT) (Insolvency) No. 624 of 2020 Facts of the Case: Om Prakash Agrawal; Liquidator – S.Kumars Nationwide Limited (“Appellant” or “Liquidator”) who has been appointed as Liquidator of S...
L&T Finance announces completing merger of 3 subsidiaries with itself
L&T Finance Holdings (LTFH), a non-banking financial company (NBFC), announced it had completed the merger of three subsidiaries with itself for “superior governance” and growth. All lending businesses of the...
NCLAT dismisses PNB’s plea against sale of Sterling Biotech to US-based Perfect Day
The National Company Law Appellate Tribunal has set aside the plea of a UK-based subsidiary of Punjab National Bank against the NCLT order, approving the sale of Sterling Biotech to US-based food technology startup...
Maruti gets nod from shareholders to fully acquire Suzuki Motor Gujarat
Maruti Suzuki India on Saturday said its shareholders have approved the proposal to issue shares on a preferential basis to Suzuki Motor Corporation (SMC) as consideration for a related party transaction for the...
INFIBEAM continues its journey of segregation
Recently, the management of Infibeam Avenues Limited announced an internal restructuring which will pave the way for separate listing of its Global Top Level Domain business and will carve out immovable property at Gift...
Future Retail Lenders at odds with RP
Future Retail lenders are concerned that the Deloitte-backed resolution professional, Vijaykumar Iyer, has yet not filed an application with the bankruptcy court to liquidate the company even after five weeks have...