Svami, a company that makes non-alcoholic, aerated beverages, has raised Rs 7.5 crore in Pre-Series-A funding. The round was led by Rukam Capital Trust, and Norwest Venture Partners India Managing Director Niren Shah...
RBI to supersede DHFL board, approach NCLT for bankruptcy proceedings
In its first action against the troubled housing finance company, the Reserve Bank of India (RBI) on Wednesday superseded the board of Dewan Housing Finance Corporation (DHFL) over governance concerns and defaults on...
Carlyle Group sells 3% stake in SBI Life in open market for Rs 2,800 cr
Private equity firm Carlyle Group on Tuesday divested 3 per cent stake in SBI Life Insurance for over Rs 2,800 crore through an open market transaction. Carlyle Group, through its entity CA Emerald Investment, had...
Allahabad Bank’s merger with Indian Bank gets in-principle govt nod
Allahabad Bank on Tuesday said the government has given in-principle approval to its amalgamation into Indian Bank. Indian Bank is the acquirer while Allahabad Bank is the transferor. “The Bank has received a...
Air India sale: Investor outreach on, meeting potential bidders, says Puri
Making forward movement on Air India disinvestment, the government is meeting potential investors to sell off almost its entire equity stake in the national carrier. “Currently, the investor outreach programme is...
Flipkart invests Rs 30 crore in customer engagement firm EasyRewardz
Flipkart has invested in customer engagement and rewards platform EasyRewardz in a deal that will see two firms offer customer engagement solutions to sellers on the Flipkart platform. While the two companies declined...
PNB, Union Bank get in-principal nod from govt for proposed merger
Punjab National Bank and Union Bank of India on Monday said they have received in-principal approval from the government for their amalgamation with other public sector banks. “Bank has received a letter dated...
Softbank’s Yahoo Japan, chat app Line announce October 2020 merger plan
Japanese telco SoftBank Corp announced on Monday plans to merge its internet unit Yahoo Japan with messaging app operator Line Corp, as it scoops up struggling internet companies to bulk up against rivals such as...
Bank moves NCLT to initiate insolvency proceedings against McLeod Russel
Following Techno Electric & Engineering’s appeal at the National Company Law Tribunal (NCLT)’s Kolkata Bench to initiate insolvency proceedings against McLeod Russel, a bank has followed suit. In a regulatory filing...
SC ruling on Singh brothers halts IHH Healthcare’s Fortis takeover plan
The Supreme Court has refused to lift the block on completion of the takeover of embattled hospital chain Fortis Healthcare Ltd. by Malaysian operator IHH Healthcare Bhd, the latest twist in one of the country’s most...
NCLAT sets aside Dhanuka’s resolution plan for debt-laden Orchid Pharma
The National Company Law Appellate Tribunal (NCLAT) has set aside the approval of the resolution plan of Dhanuka Laboratories for Orchid Pharma. Dhanuka’s plan was approved by the NCLT on June 25. The Bench also...
JSW’s Bhushan Power acquisition in deep freeze as ED refuses to relent
JSW Steel, looking to acquire bankrupt Bhushan Power and Steel Ltd (BPSL), might have a longish wait. The National Company Law Appellate Tribunal (NCLAT) had directed the government’s Enforcement Directorate (ED)...
