A bankruptcy court approved Macrotech Developers’ acquisition of Mumbai-based V Hotels Ltd, owner of Tulip Star, earlier known as the iconic Centaur Hotel. Lodha Group-owned Macrotech Developers is paying around Rs 890...
ITPCL debt restructuring: NCLAT rejects SBI’s objection on liquidation value provided by PNB
Appellate tribunal NCLAT has rejected SBI’s pleas opposing the liquidation value of ITPCL provided by the debt-ridden firm’s lead banker PNB and said the country’s largest lender cannot “wriggle...
ATC Telecom Infrastructure exits Vodafone Idea; sells entire stake for Rs 1,840 cr
ATC Telecom Infrastructure on Friday sold its entire 2.87 per cent stake in telecom operator Vodafone Idea for Rs 1,840 crore through an open market transaction. American Tower Corporation (ATC) Telecom Infrastructure...
Adani arm completes 49% acquisition in Adani Esyasoft Smart Solutions
Adani Enterprises’ arm Adani Global Limited on Friday announced that it had completed the acquisition of a 49% stake in Adani Esyasoft Smart Solutions. The conglomerate’s intimation comes in connection with...
Sandur Manganese to foray into speciality steel with buyout of Arjas Steel
Sandur Manganese and Iron Ore is foraying into the speciality steel sector in India with the buyout of Arjas Steel, which is among the top five producers of speciality steel products in the country. Sandur Manganese...
Patanjali Foods to evaluate proposal to buy Patanjali Ayurved’s non-food business
Patanjali Foods Ltd, which is mainly into edible oils, on Friday said it will evaluate a proposal to acquire the non-food business of promoter group Patanjali Ayurved, led by Baba Ramdev. In a regulatory filing...
NCLT approves Chemhub’s resolution plan for Pancard Clubs
The National Company Law Tribunal (NCLT) has approved Chemhub Tradelink’s resolution plan for Pancard Clubs, which has debt claims of around Rs 8,900 crore, which is leading to 8% recovery for creditors. Ahmedabad...
NCLT admits insolvency plea against two Essel Group companies on Indiabulls Housing plea
The bankruptcy court on Thursday admitted two Essel Group entities Primcomm Media Distribution Ventures Ltd and Essel Homes Pvt Ltd under the Corporate Insolvency Resolution Process (CIRP) after Gnex Realtech Pvt Ltd...
Vedanta demerger likely to get nod from lenders by May end
Key lenders are likely to give their approval for the revenue stream-wise demerger of Vedanta by the end of May, a senior executive at the natural resources conglomerate told ET. “Right now, the file is with Sebi...
PE Advent International queues up for a stake in Apollo 24/7
US private equity fund Advent International is among investors in discussions to acquire a minority stake in Apollo 24/7, the digital healthcare platform of Apollo Hospitals, said two people aware of the development...
Happiest Minds to acquire PureSoftware Technologies for Rs 779 crore
Happiest Minds Technologies will acquire Noida-based digital engineering and transformation services and solutions provider PureSoftware Technologies for $94.5 million (Rs 779 crore), the IT services company said...
Edelweiss Alternatives acquires IT park in Bengaluru for over Rs 1,500 cr
Edelweiss Alternatives, the alternative asset arm of the Edelweiss Group, has acquired MFAR Developers’ 1.1-million-sq-ft information technology park in Bengaluru for over Rs 1,500 crore. This is the largest and first...