The Centre is aiming to complete strategic disinvestment of 100% stake in Odisha-based Neelachal Ispat Nigam (NINL), jointly owned by four central PSUs and two Odisha government PSUs, in a couple of months, sources told...
KPMG to advise govt on IDBI Bank sale, expression of interest in October
The government has appointed KPMG India as the transaction adviser for strategic disinvestment of its 45.48% stake in IDBI Bank. It would seek expression of interest (EoI) from potential buyers in October, in line with...
Insolvency and Bankruptcy Code: Peer economies should be our benchmark, says Jayant Sinha
India needs to benchmark its recovery from the resolution of insolvent firms against that of peer economies, and not against the low liquidation value of the toxic assets, Jayant Sinha, chairman of the Parliamentary...
Bank privatisation inches ahead; Cabinet Secy-led panel brainstorm regulatory issues on disinvestment
Inching a step closer to privatisation of two public sector banks, a high-level panel headed by the cabinet secretary recently held a meeting to thrash out various regulatory and administrative issues so that the...
DHFL retail investor moves NCLAT against delisting of shares
A retail investor of Dewan Housing Finance Corporation (DHFL) has filed an appeal at National Company Law Appellate Tribunal (NCLAT) against delisting of the mortgage lender’s shares from exchanges. In his plea filed on...
Sebi plans to come out with framework for SPACs
Capital market regulator Sebi is planning to come out with framework on special purpose acquisition companies (SPACs), which will enable listing of startups on domestic stock exchanges, sources said on Thursday. The...
Former Myntra CEO Ananth Narayanan’s Mensa Brands raises $50 mn in funding
Mensa Brands, a startup founded by former Myntra CEO Ananth Narayanan has raised close to $50 million in series A funding from Accel Partners, Falcon Edge Capital and Norwest Venture Partners. Angel investors Kunal...
A world-class merger control regime
June 1, 2011, was a red-letter day for India—merger control under the country’s Competition Act went live, giving the CCI power to review an M&A transaction’s competitive effects, where parties, whether in India or...
SPACs: Bidding goodbye to traditional Initial Public Offers, but will it work for Indian firms?
It’s raining SPACs (special purpose acquisition company)! Capital raising exercises through the SPAC route has witnessed an unprecedented surge with a record-breaking fundraise by 298 SPACs of nearly US$ 88 billion in...
Companies in liquidation: How resolution plan in CIRP differs from scheme of compromise under Companies Act
The Insolvency and Bankruptcy Code, 2016 (IBC Code) enacted on May 28, 2016, provides for invitation of resolution plans from Prospective Resolution Applicants (PRAs) for revival of the corporate debtor (CD). However...
Minda Industries board approves acquisition of 27.55% stake in CSE Dakshina
Minda Industries on Saturday said its board has approved acquisition of 27.55 per cent stake in CSE Dakshina Solar Pvt Ltd for Rs 27 lakh. “The board approved the acquisition of 33,750 equity shares of CSE Dakshina...
Piramal receives nod from CCI for DHFL acquisition
Piramal Enterprises (PEL) on Thursday said its subsidiary Piramal Capital and Housing Finance (PCHFL) has received approval from the Competition Commission of India (CCI) to take over Dewan Housing Finance...
