The insolvency court said it will decide next month on bankrupt telco Reliance Communications Ltd’s plea seeking a ₹550 crore refund from Swedish telecom equipment maker Ericsson. During a brief hearing at the Mumbai...
After Pebble, Mensa looks to sell its Renee stake
Mensa Brands has sold its stake in wearables maker Pebble and is looking to exit Renee Cosmetics, as the brand aggregator looks to cash out of some of its recent investments. The company also plans to raise $100 million...
Hexa Climate Solutions acquires Fortum’s green energy portfolio in India
Hexa Climate Solutions Pvt. Ltd, a I Squared Capital portfolio company, has acquired the renewable energy development portfolio of Finland-based Fortum in India. Under the terms of the transaction, Hexa Climate...
Rite Aid Prepares to Sell Itself in Pieces for Second Bankruptcy
Rite Aid Corp. is running low on cash and preparing to sell itself in pieces as it heads toward its second bankruptcy, less than a year after the drug-store chain’s emergence from Chapter 11, according to people with...
Jio Platforms to absorb edtech firm Embibe
Jio Platforms Ltd (JPL), an arm of Reliance Industries Ltd (RIL) that houses its telecom and digital businesses, is set to absorb edtech firm Indiavidual Learning Private Limited, or Embibe, in a move that has caused...
SK Capital-Backed Chemical Business Ascend Files Bankruptcy
Ascend Performance Materials Inc., a chemicals business backed by SK Capital Partners, has filed bankruptcy and said it intends to restructure with support from its lenders. Houston-based Ascend and its corporate...
German Tech Rental Firm Grover Nears Restructuring Deal in Court
Electronics-rental company Grover Group is nearing a restructuring deal that will see some creditors take over the majority of the equity of the German startup. Investors led by Fasanara Capital and M&G are poised...
BlackRock buys nearly third of Adani group promoters’ $1 bn private bonds
BlackRock, Inc. has made a big bet on the Adani Group, snapping up nearly a third of about $1 billion bonds sold by a group promoter entity, marking the first investment in any Adani entity by the world’s largest...
NCLAT dismisses IDBI Bank’s insolvency plea against Zee
In a relief for Zee Entertainment Enterprises Ltd, the National Company Law Appellate Tribunal (NCLAT) has dismissed the insolvency plea filed by IDBI Bank against the media company over unpaid dues of around ₹150 crore...
NCLT dismisses insolvency plea against Zomato over alleged payment default
The National Company Law Tribunal (NCLT) Delhi on Thursday dismissed an insolvency plea filed against food delivery giant Zomato by uniform supplier Nona Lifestyle over an alleged payment default of ₹1.64 crore. The...
Ambuja Cements gets Delhi HC notice on stamp duty row in Holcim merger
The Delhi high court has issued a notice to Adani Group’s Ambuja Cements on a plea by the Delhi stamp duty department, which seeks to recover ₹218.87 crore in stamp duty and ₹69 crore in penalties for its merger with...
Amazon submits last-minute bid to purchase TikTok ahead of US ban deadline
Amazon has bid to purchase TikTok in an eleventh-hour pitch as a US ban on the platform is set to go into effect Saturday. The Amazon offer was made in a letter to Vice President JD Vance and Commerce Secretary Howard...
