The Department of Telecommunications (DoT) has set up a committee that will look into contentious issues arising out of telecom companies that are going through the insolvency process. The six-member committee under the...
Etihad submits EoI for crisis-hit Jet Airways, Naresh Goyal may follow suit
Abu Dhabi-based Etihad Airways has submitted an expression of interest (EoI) to buy a stake in Jet Airways within weeks of wanting to exit the venture completely. Etihad holds a 24 per cent stake in the Naresh Goyal...
Wipro board to consider equity share buyback proposal on April 16
Information technology (IT) major Wipro on Wednesday said it would consider a buyback proposal in its next board meet scheduled on April 16. If the proposal is approved, this will be the third such buyback by the...
Indiabulls merger with bank will lead to CAGR of 25%: MD Lakshmi Vilas Bank
The board of Lakshmi Vilas Bank (LVB) approved the proposed merger with Indiabulls Housing Finance last week. Parthasarathi Mukherjee, managing director and chief executive of the bank, tells T E Narasimhan &...
Jet saga: Lenders delay stake sale to make room for more potential bidders
Delaying the Jet Airways stake sale process, lenders to the airline have extended the deadline for submission of expressions of interest (EoIs) by two days to April 12. At least two EoIs were received Wednesday evening...
TPG Capital, Etihad, NIIF likely to bid for cash-strapped Jet Airways
Abu-Dhabi based Etihad Airways, a 24 per cent shareholder in Jet Airways, is evaluating its options to participate in a pre-bid process for the troubled airline as part of a bank-led resolution plan, sources in the know...
GVK buys 3 more days to fend off Adani from Mumbai airport
GVK Airport Holdings, a stepdown subsidiary of GVK Power & Infrastructure, has bought time till Thursday to fend off Adani group’s entry to Mumbai airport. The company and Bid Services Division (Mauritius), a...
GIC sells DLF’s 70 million shares in block deal for Rs 1,344 crore
GIC, Singapore government’s sovereign wealth fund, on Monday sold 70 million shares of the country’s largest real estate developer, DLF, in a block deal for around Rs 1,344 crore. The shares have been bought by existing...
NCLAT may ask Arcelor to deposit Essar bid amount of Rs 42,000 cr on Apr 23
Essar Steel India’s debt resolution inched closer to finality as the National Company Law Appellate Tribunal (NCLAT) on Tuesday said it might ask ArcelorMittal to deposit the bid amount of Rs 42,000 crore in a...
PNB’s stake sale in housing finance arm ‘credit positive’: Moody’s
The sale of Punjab National Bank’s 13 per cent stake in PNB Housing Finance is credit positive as it will strengthen the bank’s capital, Moody’s said Monday. Last month state-run Punjab National...
Catholic Syrian Bank plans to change name to ‘CSB Bank Ltd’ ahead of IPO
Ahead of a listing on the stock exchanges, Catholic Syrian Bank plans to change its name to ‘CSB Bank Limited’. In a notice to its shareholders, the management has said the present name had been a locally known one in...
Jet lenders plan to sell 75% stake, bidder’s net worth should be Rs 1000 cr
Jet Airways India Ltd.’s lenders invited initial bids to buy as much as 75 percent of the debt-laden carrier, starting a process that will determine the future of India’s oldest surviving private airline. Potential...
