State-owned NBCC and Suraksha Realty have been asked to submit fresh bids to acquire debt-laden Jaypee Infratech in an ongoing insolvency process, sources said. Lenders of Jaypee Infratech will meet on November 18 to...
SoftBank’s Yahoo Japan confirms merger talks with messaging app Line
SoftBank’s Yahoo Japan, one of Japan’s top internet firms, confirmed it is in talks to merge with Line Corp, a $27 billion union that would bring the messaging app operator under the SoftBank umbrella in a...
CG Power enters into inter-creditor pact, calls off merger with subsidiary
Nearly three months after CG Power and Industrial Solutions (CG Power) first informed the exchanges about a financial fraud, the company has entered into an inter-creditor agreement with some of its lenders, called off...
Vodafone’s India JV with Idea in a precarious situation, says HSBC
Global brokerage major HSBC has noted that Vodafone’s joint venture (JV) in India is in a precarious situation after Vodafone’s global CEO reiterated that there will be no further injection of group equity...
Air India stake sale: Roadshow in Singapore this week to woo bidders
The government will start roadshows for privatisation of ailing state-run Air India this week in Singapore with Disinvestment Secretary T.K. Pandey along with senior aviation ministry and Air India officials to brief...
Piramal will have to raise Rs 3,033 crore to meet financial commitments
The Piramal group will have to raise Rs 3,033 crore by March next year to meet its financial commitments at a time when ICRA, a Moody’s affiliate, has downgraded group firms AASAN Corporate Solutions and Piramal Realty...
NCLT starts insolvency proceedings against Rolta India, appoints EY as RP
The National Company Law Tribunal (NCLT) has directed to initiate insolvency proceedings against IT firm Rolta India Ltd. A two-member Mumbai bench of the tribunal admitted the plea of — Value Partner Greater...
Reliance Industries arm increases stake in US-based SkyTran to over 17%
Reliance Industries on Thursday said its arm Reliance Strategic Business Ventures Limited (RSBVL) has increased its stake in US-based SkyTran Inc to 17.37 per cent. In October last year, Reliance Industrial Investments...
Kurl-on looks at acquisitions, aims to become a home furnishings company
Mattress maker Kurl-on is looking at possible acquisitions to transform itself into a home furnishings company. Confirming this, a senior official of the Bengaluru-based company on Thursday said it was in talks with a...
RIL-Network 18 deal: Tribunal asks Sebi to pass order by November 30
The Securities Appellate Tribunal (SAT) on Thursday asked markets regulator Sebi to pass an order by the end of November in the matter of Reliance Industries’ acquisition of Network18 Media & Investments...
Flipkart gets stay on insolvency proceedings initiated against it at NCLT
Flipkart has obtained a stay order on insolvency proceedings initiated against the e-commerce firm by the National Company Law Tribunal (NCLT) in a case involving alleged withholding of dues to a seller on its platform...
PSU general insurance companies seek capital infusion ahead of merger
Public-sector general insurance companies which are slated to be merged have urged the government for fund infusion before the amalgamation. According to top officials of two public sector general insurance firms, the...
