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...
Samena Capital invests Rs 1 billion in fresh funding in Bloom Hotels
Bloom Hotels Wednesday said it has further raised Rs 1 billion in a fresh round of funding from Samena Capital, taking the principal investment group’s stake in the company to 45 per cent. Samena Capital had...
SIDBI plans to raise Rs 50 billion via bonds for refinancing activity
Small Industries Development Bank of India (SIDBI) has planned to raise up to Rs 50 billion through bonds in the backdrop of a rise in its refinancing activity. Rating agency Icra has assigned “AAA” rating for the...
With a banner year for deals, India overtakes China as a favoured target
India is having its busiest year ever for corporate deal making, as foreign buyers are now spending more here than in China. Companies and investors alike are betting the world’s fastest-growing large economy—once seen...
Bandhan Bank, Gruh Finance down up to 4% on denial of merger report
Shares of Bandhan Bank and Gruh Finance were trading lower by up to 4% on BSE after these companies denied the merger report. Bandhan Bank has dipped 4% to Rs 507, extending its past three days 7% decline on BSE. The...
Lupin ties up with US-based AbbVie for cancer drug, to earn $ 1 billion
Lupin on Monday announced a partnership with US-based drug maker AbbVie to develop a novel cancer drug that will potentially earn it over $1 billion in fee, milestone payments and royalties. The firm said the drug...
Northern Arc Capital raises Rs 2 billion from Dutch Development Bank
Northern Arc Capital, a non-banking financial company (NBFC), has raised Rs 2 billion from the Dutch Development Bank (FMO) by issuance of INR-denominated non-convertible debentures (NCDs). The NCDs, issued in two...
Satin Creditcare plans to demerge small and medium finance unit into NBFC
Satin Creditcare, the third-largest microfinance company in India, plans to demerge its small and medium finance vertical into a separate non-banking finance company (NBFC). Recently, it had demerged its housing finance...
Vedanta to move SC against Madras HC to reopen Sterlite copper plant
The Vedanta Group company Sterlite has said it would move the Supreme Court to implement the NGT order to reopen its copper plant in Tuticorin. “The honourable Madras High Court, Madurai Bench, Friday issued...
