The Supreme Court has agreed to hear on Tuesday a plea moved by the Insolvency and Bankruptcy Board of India (IBBI) in which the insolvency regulator has sought go-ahead to initiate criminal proceedings against Liberty...
Reliance Capital’s stake sale to Nippon Life to be completed by month-end
Reliance Capital’s deal to sell its entire stake in mutual fund arm to joint venture partner Japan’s Nippon Life Insurance will be completed by the end of this month, RNAM CEO Sundeep Sikka said on Monday...
Sterling Biotech case: Appellate authority upholds IBC over PMLA
In a ruling upholding the prevalence of the Insolvency and Bankruptcy Code (IBC) over the Prevention of Money Laundering Act (PMLA), the appellate authority of the PMLA has released some properties, belonging to PMT...
MCA defends IBC amendments, sticks to strict deadlines in Supreme Court
The Ministry of Corporate Affairs (MCA) has defended all the amendments made to the Insolvency and Bankruptcy Code (IBC) in a submission made to the Supreme Court (SC). One of the most contentious issues is related to...
McLeod Russel moves NCLT to resume tea estate sale to help it repay dues
The Williamson Magor Group (WMG)’s stressed tea entity, McLeod Russel, has appealed to the National Company Law Tribunal (NCLT) to relax the stay order on sale of its gardens. Earlier, after Techno Electric &...
Indian Bank gets board nod to raise Rs 5,000 cr, merge with Allahabad Bank
Government-owned Indian Bank on Wednesday got a nod from its board to raise Rs 5,000-crore capital from the government through preferential allotment. The board also approved the proposed merger of Allahabad...
Hero Cycles ties up with Yamaha Motor to launch Lectro e-cycle series
Hero Cycles on Tuesday said it has partnered with Japan’s Yamaha Motor Co to launch Lectro e-cycle series. Priced at Rs 1.30 lakh, Lectro EHX20 is a high performance e-cycle powered by Yamaha, the company said. The...
Irdai in talks with insurance firms hit by govt’s mega PSB merger drive
The Insurance Regulatory and Development Authority of India (Irdai) has started informal consultations with insurance companies whose shareholding structure is in a fix after the merger of 10 public sector banks into...
Purdue Pharma files for bankruptcy in bid to settle opioid crisis cases
Purdue Pharma has filed for bankruptcy in a settlement agreement in a move it hopes will head off further legal proceedings in relation to its role in spreading the opioid crisis in the US, the company said in a...
Air India’s arm raises Rs 7,000 cr from bond market to dilute debt burden
A special purpose vehicle of state-owned Air India has raised Rs 7,000 crore from the bond market, in a major exercise to clean up the balance sheet before privatisation. The bond was floated by Air India Asset Holdings...
Uber offers $750-mn junk bonds to help finance acquisition of Careem
Uber Technologies is selling junk bonds to help finance its acquisition of Careem in its first debt offering as a public company. The ride-sharing company is looking to issue $750 million of debt due in 2027, according...
YES Bank’s co-founder Rana Kapoor likely to sell his stake to Paytm
Rana Kapoor, co-founder of YES Bank, is said to be in talks with One97 Communications, owner of Paytm, to sell his stake in the private sector lender. Kapoor and his associate entities owned 10.6 per cent in the bank at...
