The former promoters of Fortis group are in for more trouble in the following weeks after the Japanese drugmaker Daiichi-Sankyo moved a contempt plea against the Singh brothers and Indiabulls in the Supreme Court (SC)...
Steer Engineering moves Delhi HC against GSK Consumer over Unilever deal
A cloud of litigation hangs over the recent deal which saw Unilever acquire GlaxoSmithKline’s Indian consumer business, including Horlicks and Boost. Bengaluru-based Steer Engineering has moved the Delhi High...
NCLT dismisses HDFC Ltd’s insolvency petition against RHC Holding
The National Company Law Tribunal (NCLT) Thursday dismissed the plea of HDFC Ltd to initiate insolvency proceedings against RHC Holding, a non-banking financial company promoted by Singh Brothers...
Govt sells 2.21% stake in Coal India to CPSE ETF
The government has sold 2.21 per cent stake in state-owned CIL to the CPSE ETF which is managed by Reliance Nippon Life Asset Management Ltd, according to a regulatory filing. “The President of India, acting...
Alembic Pharmaceuticals plans to raise up to Rs 5 bn through issue of NCDs
Drug firm Alembic Pharmaceuticals Thursday said it plans to raise up to Rs 5 billion through the issue of non-convertible debentures (NCDs) on private placement basis. The company’s board of directors Thursday...
Cash-strapped Jet Airways seeks soft financing of $350 million from Etihad
Cash-crunched Jet Airways has sought a soft financing of $350 million from its investment partner Etihad Airways, as it continues to hold discussions with the latter to offload additional stake in the carrier, an...
IT firm Sonata Software to acquire Australia’s Scalable Data Systems
IT services firm Sonata Software Thursday said it has signed a definitive agreement to acquire Australia’s Scalable Data Systems for an enterprise value of up to Australian Dollar 5.5 million subject to adjustment...
Alliance Tire founders in JV with Trelleborg for two-wheeler tyres
Mahansaria Family, the founders of Alliance Tire, and Trelleborg AB (publ) have signed an agreement to form a joint venture in India for the manufacturing of tyres for two-wheeler vehicles. For Mahansaria Family, this...
JioMusic, Saavn merge to create South Asia’s largest music platform
Music streaming platform Saavn, now a subsidiary of Reliance Industries Limited (RIL), on Tuesday, launched JioSaavn, which according to the company is South Asia’s largest streaming, entertainment and artist platform...
HCL Tech expands relationship with Barclays, to take over Lithuania centre
Indian IT services company HCL Technologies on Tuesday announced the expansion of its strategic relationship with Barclays. “As part of the deal, it is intended that approximately 460 Barclays employees in its...
IL&FS board rules out group-level resolution in progress report to NCLT
The government-nominated board of beleaguered Infrastructure Leasing & Financial Services (IL&FS) has effectively ruled out a resolution at the group level and is looking to pursue a business-specific plan. The...
Pabrai Investment Funds sells 3% stake in Repco Home Finance for Rs 600 mn
Indian-American businessman Mohnish Pabrai’s fund has sold close to 3 per cent stake in Repco Home Finance through an open market transaction for an estimated sum of Rs 600 million. According to a regulatory...
