Finance Minister Nirmala Sitharaman on Wednesday reiterated that the consolidation of 10 state-owned banks is on course and will take place according to the schedule set by the government. Her comments come even as the...
JSW Steel’s $2.7-billion buy of Bhushan Power & Steel faces legal test
JSW Steel’s $2.7-billion purchase of a bankrupt steel mill is facing a fresh hurdle after a former chairman of Bhushan Power & Steel challenged the deal in the country’s top court. Sanjay Singal filed a petition on...
JSW Steel declared preferred bidder for Jajang iron ore block in Odisha
JSW Steel on Monday said it has been declared as a preferred bidder for Jajang iron ore block in Odisha. The Sajjan Jindal-led firm has bagged the iron ore mine in the auction of blocks in Odisha. The block holds...
Tech Mahindra to acquire US-based Zen3 Infosolutions for Rs 460 cr
IT company Tech Mahindra on Monday said it has signed an agreement to acquire 100 per cent stake in US-based Zen3 Infosolutions for $64 million (Rs 460 crore) in an all-cash deal. Headquartered in Seattle, Zen 3 has...
NTPC’s acquisition of entire stake in NEEPCO, THDC India gets CCI nod
Fair trade regulator CCI on Monday said it has given nod to acquisition of government’s entire stake in THDC India and North Eastern Electric Power Corporation Ltd (NEEPCO) by state-owned NTPC Ltd. As part of...
RCom resolution plan: Committee of creditors to meet again on March 2
With many of the bank representatives in the committee of creditors (CoC) informing that their respective boards had not met to consider the Reliance Communications (RCom) sale, the meeting was shifted to March 2. The...
CCI okays GMR’s 49% stake sale in airport business to France’s Groupe ADP
Competition Commission of India has given approval for GMR group’s proposed 49 per cent stake sale in its airport business to France’s Groupe ADP. The regulator’s clearance is through the green...
Mahindra Renewables to sell entire stake in 3 arms for Rs 340 crore to CLP
Mahindra & Mahindra on Friday said its wholly-owned arm Mahindra Renewables will sell its entire stake in three subsidiaries to CLP India, a part of Hong Kong-based CLP Group, for nearly Rs 340 crore. Mahindra...
Wipro arm acquires Rational Interaction to enhance its digital offerings
Global software major Wipro’s digital arm on Friday said it acquired US-based Rational Interaction to enhance its customer experience offerings. “The acquisition will scale our digital offerings to chief...
Bhushan Power acquisition: JSW Steel likely to pay Rs 19,700 cr by March 15
JSW Steel is all set to wrap up one of the long-drawn and high profile insolvency resolution cases, as it is likely to pay Rs 19,700 crore to acquire the bankrupt Bhushan Power and Steel Ltd by March 15, sources said...
McLeod Russel defaults at Rs 1,187 cr; to sell tea estates to pare debt
Williamson Magor Group (WMG) owned McLeod Russel on Wednesday said it has defaulted on payments of Rs 1,187.09 crore till December 31, 2019. According to a regulatory filing on the BSE, the company said that while its...
Dish TV-Bharti Airtel deal called off due to differences over valuation
The deal between Subhash Chandra’s Essel Group, the promoters of direct-to-home (DTH)) company Dish TV, and Sunil Mittal’s Bharti Airtel has been called off due to differences overvaluation. The promoters are now in...
