Embassy Office Parks REIT has agreed to purchase Embassy Splendid TechZone, a Grade-A business park, from Embassy Sponsor, for an Enterprise Value of Rs 1,269 crore. The proposed acquisition marks Embassy REIT’s entry...
NCLT approves merger between Hinduja Group’s healthcare, real estate companies
The National Company Law Tribunal (NCLT) has approved the scheme of merger by absorption between Hinduja Group’s unlisted entities Hinduja Realty Ventures Ltd and Hinduja Healthcare Ltd. The order, delivered on...
IL&FS seeks NCLAT nod to sell insolvent companies with haircut, without shareholders’ approval
IL&FS group has approached the NCLAT to seek permission to sell its stake with a “haircut” and without shareholders’ approval in its companies, which are insolvent with unsustainable debts and...
Zuari Group’s attempts to create the biggest private producer of Fertilisers
Recently Adventz (Zuari) Group announced the consolidation of its two group listed entities. One of its listed companies is entirely controlled by Adventz Group while the other being jointly controlled with OCP, Morocco...
Vodafone sells Italian unit to Swisscom in 8 billion euros deal for fixing UK group operations
Telecoms giant Vodafone announced on Friday, March 15, that it has agreed to sell its Italian unit to Swisscom for eight billion euros ($8.7 billion) in cash, completing efforts to overhaul the UK group’s European...
Aditya Birla Capital, Aditya Birla Finance announce a Scheme of Amalgamation for creation of a large NBFC
The Boards of Aditya Birla Capital Limited (ABCL) and Aditya Birla Finance (ABFL) on Monday approved the Scheme of Amalgamation (Scheme) of the two companies, to further create a large unified operating NBFC. It is to...
International Chemical Investors Group buys Vasant Chemicals
International Chemical Investors Group (ICIG) has acquired a majority stake in Vasant Chemicals, the company specializing in the production of Specialty Chemicals and Pharma Intermediates. The company is set to be...
Utkarsh Small Finance Bank proposes reverse merger with holding entity
Utkarsh Small Finance Bank, on Wednesday, informed the exchanges that post passing a resolution for a reverse merger between the holding company Utkarsh Core Invest (UCL) and the bank, the UCL board has suggested...
Jaypee Infratech insolvency: Monitoring panel seeks NCLT direction to implement Suraksha group’s resolutio
Amid legal challenges for Suraksha group’s successful bid for debt-laden Jaypee Infratech, the monitoring panel set up to oversee the insolvency process has moved the National Company Law Tribunal (NCLT) seeking...
NCLT clears J Kumar infra’s bid to buy Pranav Construction
The bankruptcy court has approved listed infrastructure firm J Kumar Infraprojects’ bid to acquire Pranav Construction Systems Pvt Ltd. As part of the insolvency process, J Kumar Infraprojects has proposed to pay...
Bankruptcy court admits insolvency resolution plea against Helios Photo Voltaic
The principal bench of the National Company Law Tribunal (NCLT) has admitted an application filed by the National Asset Reconstruction Company (NARCL) against Helios Photo Voltaic Ltd, earlier known as Moser Baer Photo...
Salasar Techno Engineering board approves Hill View Infrabuild merger with itself
EPC company Salasar Techno Engineering Ltd (STEL) on Saturday said its board has a proposal to merge Hill View Infrabuild Ltd with itself. A decision in this regard was taken at a board meeting of the company on...