Central Bank of India one of the lender of offshore drilling contractor Aban Offshore, has withdrawn their insolvency application against the company. The National Company Law Tribunal (NCLT) has dismissed the...
Single investor buying RCom would be preferred: Resolution professional
In a first of its kind, the resolution professional (RP) of the stressed Reliance Communications (RCom) addressed the annual general meeting (AGM) of the company on Monday. The RP, Anish Nanavaty, said it would be...
Volkswagen India to merge all subsidiaries under single company
If the Skoda range of cars was the first brand the Volkswagen Group saw winning the favour of customers in India when it first launched in 2001, it is making no mistake about using the same established benchmark to...
Privatisation plan of BPCL will need a prior nod of Parliament: Officials
The government is considering a proposal to sell India’s second-largest state refiner and fuel retailer BPCL to foreign and private firms but the privatisation plan will need a prior nod of Parliament, officials...
South Korea’s Posco continues exploring joint venture possibility with RINL
Having stumbled earlier on its plans to set up a plant in India due to a struggle against land acquisition, South Korean steel giant POSCO is again turning to the country’s growing steel market but this time...
Restructuring process likely to impact 350 employees of Sharekhan
Sharekhan, which is one of the top five brokerages in India, is going through a restructuring process that could impact 350 employees. A spokesperson for BNP Paribas India said: “Our business is evolving to meet the...
Fairfax Financial Holdings sells 5% in ICICI Lombard for Rs 2,562 crore
FAL Corporation, a wholly-owned subsidiary of Canadian investor Prem Watsa’s Fairfax Financial Holdings, has sold 4.99 per cent equity stake in ICICI Lombard general insurance for Rs 2,562 crore in a block deal. This...
Muthoot Finance to raise Rs 1,000 crore via NCDs to fund business growth
Muthoot Finance Ltd, a Kochi-based finance company, plans to raise upto Rs 1,000 crore through non-convertible debentures (NCD) to fund business growth. The company will issue secured redeemable non-convertible...
Global economic uncertainties dampen India’s M&A activity in August
Corporate India’s merger and acquisition activity moderated in August with 23 deals worth $845 million, the second-lowest monthly deal volume till date amid ongoing global uncertainties, said a report. According...
Ford to transfer struggling India business to joint venture with Mahindra
Ford Motor Co. is set to transfer most of its assets in India to a joint venture with Mahindra & Mahindra Ltd. after failing to make meaningful inroads for more than two decades in the world’s fourth-largest...
It’s too early to decide on brand acquisition, says Thomas Cook India
When London-based Thomas Cook Group UK collapsed under a pile of debt on Monday, investors beat down the shares of an unrelated company thousands of miles away in India, ignoring multiple clarifications that it isn’t in...
Debenture trustee sells Rs 200 crore of Zee Entertainment shares
Catalyst Trusteeship, acting on behalf of one or a few debenture holders, sold Rs 204 crore worth of Zee Entertainment’s shares in a bulk deal on Monday. Zee shares were placed as collateral with various mutual funds...
