Lenders of troubled NBFC DHFL are scheduled to meet on Monday, seeking a solution for the Rs 90,000 crore debt that is owed to them. The consortium of 30 lenders led by state-run Union Bank of India, which includes...
Insolvency procedure benefits creditors, but concerns remain, say lenders
Even as the implementation of the Insolvency & Bankruptcy Code has changed not only the economic scenario but also the outlook of both creditors and the debtors, there are certain concerns that have to be addressed...
IL&FS panel to finalise asset-wise framework of resolution with lenders
The board of Infrastructure Finance and Leasing Services (IL&FS) has decided to set up a six-member empowered committee to finalise the asset-wise framework of resolution with lenders. The six-member committee...
Online pharmacy 1mg raises $70 mn in funding round led by Corisol, Redwood
1mg, an integrated healthcare platform, has closed a $70 million fundraise with participation from World Bank investment arm IFC. The financing round was led by Corisol Holdings, a European family office and largest...
SBI Mutual Fund bets big on Emami, increases stake from 0.68% to 8.8%
SBI Mutual Fund (MF) has aggressively hiked stake in homegrown FMCG company Emami. The country’s third-largest fund house’s stake in the company increased from 0.68 per cent to 8.8 per cent. This stake was acquired from...
Wipro exits WAISL JV, sells stake to Antariksh Softtech for Rs 55 lakh
IT services major Wipro Thursday said it has exited its joint venture WAISL by selling its 11 per cent shareholding to Antariksh Softtech for Rs 55 lakh. In April last year, Wipro had sold 63 per cent of its stake...
Lemon Tree Hotels will divest 49% stake in 2 years, says Patanjali Keswani
Lemon Tree Hotels, which has been in a capital deployment phase to expand operations and create assets, will start scouting for buyers to divest minority stake after fiscal 2021-22, Patanjali Keswani, chairman and...
63% Indian IT decision makers see cyber security as major M&A hurdle: study
Merger and acquisition (M&A) deals in India are most prone to cyber security threats in the IT (information technology) space, a study reveals. About 63 per cent of IT decision makers (ITDM) out of the 372...
AbbVie strikes $63-billion deal for merger with botox-maker Allergan
AbbVie Inc. agreed to pay $63 billion for rival drugmaker Allergan Plc, the latest merger in an industry where some of the biggest companies have been willing to pay a big premium to resolve questions about their growth...
Mindtree CEO Ravanan likely to quit after L&T picks majority stake: Report
Mindtree CEO Rostow Ravanan is likely to resign in a few weeks after infrastructure company Larsen and Toubro (L&T) acquired a majority stake in the IT company, sources said. L&T started an unsolicited takeover...
NCLT asks Amtek Auto lenders to examine bids of Deccan Value Investors
The National Company Law Appellate Tribunal (NCLAT) on Wednesday asked the lenders of Amtek Auto to consider the resolution plans submitted by Deccan Value Investors (DVI) along with others based on the original...
Emami’s dilution of stake to infuse confidence among investors, says family
The promoter’s decision to pare 10 per cent stake in Emami Ltd was has been taken in order to infuse confidence among the investors and intends to raise its stake in future. “This round of 10 per cent...
