Liberty House counsel on Thursday made representations before the Kolkata Bench of the National Company Law Tribunal (NCLT) that it was ready with funds to close the transaction with creditors of Adhunik Metaliks. The...
Ashok Leyland acquires 27.25% more stake in AAL; shareholding ups 76.25%
Hinduja group flagship firm Ashok Leyland Wednesday said it has acquired 27.25 per cent additional stake in Ashley Aviation Ltd (AAL), raising its shareholding in the firm to 76.25 per cent. The company has acquired...
Malaysia Airports Holding cancels Hyd airport stake sale pact with GMR
Malaysia Airports Holding Berhad has said it terminated the Share Purchasing Agreement (SPA) with the GMR Group for selling its 11 per cent stake to the latter as the Indian infra major did not fulfill the obligations...
Sebi brings in rules for merger of FPI, NRI fund inflows in single regime
Markets regulator Sebi has come out with rules for merger of foreign portfolio investment (FPI) and non-resident Indian/overseas citizens of India routes to bring in a single regime for foreign investors and...
NDTV signs over Rs 3 bn deal with content recommendations engine Taboola
Media firm NDTV group’s digital arm NDTV Convergence Friday said it has signed a five-year deal worth over Rs 3 billion with content recommendations engine Taboola. “The five-year deal ties NDTV Convergence...
NCLT allows govt to reopen IL&FS Group’s books for the last 5 years
In a first, the Mumbai bench of the National Company Law Tribunal (NCLT) on Tuesday allowed the corporate affairs ministry to reopen the books of the crippled Infrastructure Leasing & Financial Services (IL&FS)...
MSTC mulls 10% fresh equity issue after govt plan to dilute 25% stake
State-owned MSTC Ltd is mulling an additional 10 per cent equity issue, following the government’s proposed dilution of stake in the trading and e-commerce services company. The Centre has proposed to offload 25...
Cabinet approves plan to list 6 state-owned firms, dilute stake in one
The union cabinet has approved a plan to list six government-owned companies and dilute stake in Kudremukh Iron Ore Company Ltd (KIOCL) through a share sale, the government said on Friday. The cabinet gave approval to...
Bar Liberty House from any resolution process: Amtek Auto CoC
The Committee of Creditors (CoC) of Amtek Auto have sought to bar Liberty House from bidding for any insolvent company. In their application seeking to invoke section 74 of Insolvency and Bankruptcy Act (IBC)...
‘Sashakt’ plan for resolution of stressed assets active for pre-IBC process
The ‘Sashakt’ plan for resolution of stressed assets outside the insolvency courts has been made operational after months of delay. The move is expected to help in resolution of over 1,000 assets worth Rs 3 trillion...
Power Finance corp allays investor fears over govt’s stake sale of REC
Allaying investors’ concerns over acquisition of the government’s stake in REC, Power Finance Corporation (PFC) Thursday said it has not yet decided on definitive pricing of the deal and its impact cannot be...
London’s Gatwick airport sold for $3.7 bn to French construction firm Vinci
Vinci SA agreed to acquire control of Gatwick Airport for 2.9 billion pounds ($3.7 billion) as the French construction company jumped on the chance to add a major London hub to its aviation portfolio. The purchase of...
