The Union government, on September 30, 2018, constituted a nine-member Competition Law Review Committee to review the Competition Act, 2002, which has been in operation for more than a decade and a half. According to...
PFC may approach foreign banks to fund REC stake buy
Power Finance Corporation (PFC) may have to approach foreign banks to raise part of the Rs 7,000 crore it needs to buy out the central government’s stake in REC as public sector banks (PSBs) may hit the regulatory...
NCLAT rejects Edelweiss pleas challenging Synergy resolution plan
The National Company Law Appellate Tribunal (NCLAT) on Friday dismissed Edelweiss Asset Reconstruction Company’s multiple pleas challenging the August 2, 2017 order of the National Company Law Tribunal (NCLT) that...
Insolvency bids: Defaulting winners may land in jail
Concerned over several instances of successful bidders under the insolvency resolution process for stressed companies failing to make the promised payments on time — the most prominent one being that of UK-based Liberty...
Eyeing drone delivery, Zomato buys TechEagle
Food aggregator and delivery provider Zomato on Wednesday said it has acquired TechEagle Innovations, a Lucknow-based startup that works exclusively on drones. Zomato said the acquisition will help the company develop...
Mauritius’ SBM gets RBI approval to merge operations with its Indian subsidiary
The Reserve Bank of India Saturday said it has approved merger of SBM (Mauritius), India with SBM Bank (India). “The Reserve Bank of India has sanctioned the Scheme of amalgamation of the entire undertaking of SBM Bank...
Central Bank to sell 4% stake in Clearing Corp to raise Rs 120 crore
Central Bank of India on Thursday sought bids for its 4% stake in Clearing Corporation of India (CCIL) to raise at least Rs 120 crore. Bank of Baroda (BoB) is reported to have agreed to sell a similar stake to HDFC Bank...
SBI and BoI seek bids for NPAs worth Rs 7,000 crore
Seven months after the Supreme Court (SC) ordered the maintenance of status quo on insolvency proceedings against manufacturing firm Jayaswal Neco Industries, State Bank of India (SBI) on Thursday sought bids from asset...
Lenders to take call on selective L&T IDPL bid on November 27
Lenders to Jaypee Infratech (JIL) will, on November 27, decide whether L&T Infrastructure Development Projects’ (IDPL) selective proposal for the bankrupt firm can be considered. L&T IDPL is interested only in...
Apple acquires Silk Labs, AI startup, to bolster HomePod development
Apple has acquired a Startup called Silk Labs that works on Artificial Intelligence (AI)-based personal assistant technology for smartphones and smart home devices. According to a report in The Registrar, the quietly...
Voda Idea to expedite merger synergies
Vodafone Idea on Thursday said that it will expedite the merger synergies by advancing the target by two years to FY21, enhance 4G network expansion and deleveraging. The merged entity had earlier set FY23 deadline for...
Government looks to garner Rs 5,000 cr from CPSE share buybacks this fiscal
The government expects to garner at least Rs 5,000 crore through share buyback offers of state-run companies, including Coal India, in the current fiscal, a Finance Ministry official said. Coal India, in which the...
