Essel Infraprojects is in the final stages of discussions to sell its solar energy portfolio to private equity investor Actis, according to sources. The sale of the portfolio, totaling 685 mw of installed and under...
Investcorp announces acquisition of IDFC Alternatives’ PE, realty investment management business
Alternative investment manager Investcorp on Wednesday said it has launched its operations in India through the acquisition of the private equity and real estate investment management businesses of IDFC Alternatives, a...
SC upholds IBC spirit: Now, make it resolution-centric instead of liquidation-centric
The judgment of the Supreme Court upholding the legal sanctity of Insolvency and Bankruptcy Code (IBC) can bring a tectonic shift in the loan repayment culture. It asserts that the defaulters cannot bid for the assets...
Lenders may re-invite bids for Avantha’s Jhabua Power
After industrial gases manufacturer, Goyal MG Gases failed to honour its commitment as the highest bidder for Avantha group’s Jhabua Power plant, lenders to the company are planning to re-invite bids for the 600-MW...
Jet Airways deal: Goyal eying Rs 200 a share, Etihad looks at Rs 150/share
Contrary to speculation that a restructuring proposal of Jet Airways is hanging because promoter-chairman Naresh Goyal is unwilling to bring down his controlling stake below 51%, sources said that the latter is amenable...
PNB drags Binani to NCLT as subsidiary Edayar Zinc fails to repay loan
In a major development, state-run lender Punjab National Bank has dragged Binani Industries to the National Company Law Tribunal (NCLT) as its subsidiary Edayar Zinc has committed default in repayment of the outstanding...
India may miss disinvestment target once again in FY19; fiscal deficit set to overshoot limit
After overachieving the divestment goal in the last financial year 2017-18 by a respectable amount, India looks set to miss its disinvestment target for the current fiscal 2018-19 once again, resulting in fiscal deficit...
Fund raising mode: PFC to borrow Rs 14,000 crore to fund REC buy
State-run Power Finance Corporation (PFC) will borrow nearly Rs 14,000 crore to fund its acquisition of the Centre’s 52.63% stake in Rural Electrification Corporation (REC) by February 15, before the government goes in...
Daiichi moves SC to restrain Fortis from transferring funds from IHH
Japanese drugmaker Daiichi Sankyo has moved the Supreme Court seeking to restrain Fortis Healthcare from transferring any funds it has received from Malaysia’s IHH Healthcare to RHT Health Trust, Singapore, in which the...
LIC move to acquire 51% stake in IDBI hits SC hurdle, court to hear appeal against deal
The Supreme Court on Friday said it will hear next week an appeal challenging the LIC’s move to acquire 51% in the Industrial Development Bank of India (IDBI). The total value of the deal is expected to be Rs 12,000...
Binani Cement: Dalmia Bharat again knocks on Supreme Court’s door to seek judicial review
Rajputana Properties, a group company of Dalmia Bharat, has approached the Supreme Court, seeking review of the apex court’s judgment which had dismissed its plea challenging the National Company Law Appellate...
Infibeam terminates acquisition deal with Snapdeal’s inventory management unit Unicommerce
India’s first e-commerce company to IPO Infibeam Avenues today said that it has terminated Rs 120 crore-deal to acquire Snapdeal’s inventory and order management subsidiary company Unicommerce. The call-off comes seven...
