The government on Friday extended the deadline for submitting bids for buying 100 per cent stake in Air India till April 30. The deadline was originally set at March 17. The government had allowed access to the “virtual...
OMV AG in talks to buy 39% stake in Borealis from Mubadala for $4.68 bn
Austria’s OMV AG is in talks to buy a $4.68 billion stake in Borealis AG, a potentially record-breaking acquisition that would shift the state-controlled energy company’s focus to petrochemicals. Taking over the maker...
RCom’s resolution plan to sell Rs 23,000 cr assets filed before NCLT
Resolution professional of Reliance Communications has approached the National Company Law Tribunal with a resolution plan approved by the creditors of the telecom firm under the insolvency and bankruptcy code...
NCLAT asks NCLT to decide on liquidation of Lakshmi Cotsyn within 10 days
The National Company Law Appellate Tribunal (NCLAT) has asked the Allahabad bench of the NCLT to decide within 10 days on the liquidation of Kanpur-based textile manufacturer Lakshmi Cotsyn. A two-member bench...
SC admits plea challenging NCLAT order allowing sale of Bhushan Power
The Supreme Court Friday admitted a plea challenging appellate tribunal NCLAT’s order allowing JSW Steel to acquire Bhushan Power & Steel Ltd for Rs 19,700 crore by providing it immunity from prosecution by...
NCLT approves Cochin Shipyard’s resolution plan for Tebma Shipyards
The Chennai Bench of National Company Law Tribunal (NCLT) has approved the resolution plan of Cochin Shipyard (CSL) for Chennai-based shipbuilding firm Tebma Shipyards (TSL) under Corporate Insolvency Resolution Process...
NCLT allows MCA’s plea to reopen CG Power’s accounts from FY15 to FY19
The National Company Law Tribunal (NCLT) on Thursday allowed a government petition seeking to reopen CG Power and Industrial Solutions accounts from 2014-15 to 2018-19. The corporate affairs ministry had filed an...
Govt invites preliminary bids for sale of its entire 52.98% stake in BPCL
In the country’s biggest ever privatisation drive, the government on Saturday invited bids for sale of its entire 52.98 per cent stake in India’s second biggest oil refiner Bharat Petroleum Corp Ltd (BPCL)...
Grindr’s Chinese owner says to sell dating app for $608 mn after US diktat
Chinese gaming company Beijing Kunlun Tech Co Ltd said on Friday that it has agreed to sell Grindr LLC, a popular gay dating app it acquired in 2016, for about $608.5 million. The deal comes after a US government panel...
Rs 750 cr paid by JAL was towards obligation of Jaypee Infratech: NCLT
The Rs 750-crore deposited by Jaypee Infratech’s (JIL) parent firm Jaiprakash Associates with the Supreme Court registry was a payment towards obligation of the debt-ridden firm and should be treated as the asset...
PSB merger: Indian Bank announces equity exchange ratio with Allahabad Bank
Indian Bank on Thursday announced a fair equity share exchange ratio of 115 equities of Rs 10 each for every 1000 shares of Rs 10 of Allahabad Bank as part of the amalgamation of the latter in the Bank. The record date...
SBI board approves exploring ‘investment opportunity’ in YES Bank
The State Bank of India board has given in-principle approval to consider an “investment opportunity” in YES Bank. In a late night statement on Thursday, SBI, however, said no decision had yet been taken to pick up...
