The Chennai Bench of the National Company Law Tribunal (NCLT) has ordered the initiation of Corporate Insolvency Resolution Process (CIRP) against Chennai-based Marg Ltd on a petition filed by ICICI Bank Ltd. According...
NCLT rejects Essar Power Jharkhand ex-promoters’ bid to clear dues
The principal bench of the National Company Law Tribunal (NCLT) on Thursday rejected Essar Power Jharkhand’s former promoters’ bid to take the company out of insolvency by offering to pay Rs 1,200 crore as a one-time...
Doha Bank moves law tribunal, seeks stay on decisions of RCom lenders
In a surprise intervention in the Reliance Communications (RCom) insolvency matter, Doha Bank, which is one of the financial creditors to RCom’s subsidiary Reliance Infratel, has moved the National Company Law Tribunal...
Adani makes non-binding bid for Jaypee Infra; ready to infuse Rs 1,700 cr
Business conglomerate Adani group has made an unsolicited and non-binding bid to acquire Jaypee Infratech and is ready to infuse up to Rs 1,700 crore to expedite the construction of stuck housing projects of the debt...
L&T acquires 97,815 shares of IT firm Mindtree, raises stake to 28.97 pc
Infrastructure major Larsen and Toubro (L&T) on Wednesday acquired about 98,000 shares of Mindtree from open market, taking its shareholding in the IT services firm to 28.87 per cent, according to a regulatory...
SAIF Partners invests $1.5 mn in social-travel commerce start-up Airblack
Asia-focused VC firm SAIF Partners has invested $1.5 million in New Delhi based social-travel commerce start-up, Airblack. Started in February earlier this year by Pulkit Pujara and Videt Jaiswal, Airblack leverages...
Toyota may invest $550 million in China ride-hailing firm Didi: Report
Toyota Motor Corp is considering investing about 60 billion yen ($550 million) in Chinese ride-hailing giant Didi Chuxing, the Nikkei business daily reported on Wednesday. Japan’s top automaker was also looking to...
Chandras may sell small stake in Zee Entertainment to financial investors
The Subhash Chandra-led Essel Group, expecting to raise more than the initial target from sale of its infrastructure assets, is looking at the option of selling a small stake in Zee Entertainment Enterprises Ltd (ZEEL)...
Air India disinvestment: Why the airline may now appeal more to investors
State-owned air carrier Air India, which has had little success in enthusing strategic investors so far, might now begin to appear attractive. Why? The reason is simple: Jet Airways, one of Air India’s key competitors...
Renault and Fiat set to announce talks for a potential merger: Report
French and Italian-US auto giants Renault and Fiat Chrysler are set to announce talks on an alliance, with a view to a potential merger, informed sources said on Sunday. Renault and Fiat Chrysler Automobiles (FCA) are...
Hulst BV buys 160,000 shares of NIIT Technologies, boosts stake to 32.38%
Hulst BV has acquired additional 1.6 lakh shares of NIIT Technologies from the open market, taking its shareholding in the mid-sized Indian IT firm to 32.38 per cent, a regulatory filing said Sunday. “Hulst BV has...
Infosys completes acquisition of 75% in ABN AMRO Bank subsidiary Stater
IT services major Infosys Friday said it has completed the acquisition of 75 per cent shareholding in ABN AMRO Bank’s wholly-owned Stater NV. In March, the country’s second largest IT services firm had said...
