The companies appeal court on Monday upheld the delisting of ICICI Securities Ltd from the stock exchanges, rejecting challenges by shareholders Quantum Mutual Fund and an individual investor. “All appeals dismissed,”...
Competition Commission clears acquisitions by JSW Energy, Shell, Adani Infra
The Competition Commission of India (CCI) has approved seven acquisitions, including those by JSW Energy Ltd, Shell Plc and Adani Infra (India) Ltd. The competition watchdog approved all transactions without...
Disinvestment: The government must take a clear stance on PSE stake sales
In recent years, the government’s policy on disinvestment has been cloudy. While it has in the past endorsed the mantra that ‘the government has no business being in business,’ its actions would suggest otherwise. Its...
NCLT rejects Talwandi Sabo power unit’s scheme in Vedanta demerger
The National Company Law Tribunal dismissed the demerger scheme filed by Talwandi Sabo Power Ltd (TSPL) at an initial state in a setback for the five-way spinoff of its parent Vedanta Ltd. The tribunal’s Mumbai bench...
NCLAT condones delay in plea to initiate insolvency against PepsiCo, to list for hearing
The National Company Law Appellate Tribunal (NCLAT) on Monday condoned the delay over a plea to initiate an insolvency petition filed against food & beverage major PepsiCo India Holdings by one of its operational...
Law changes on cards for quick CCI nod for distressed asset sales after SC order
The government is exploring urgent legislative changes to ensure swift approvals from the Competition Commission of India (CCI) for the sale of distressed assets after a Supreme Court (SC) order cast a cloud over...
Why Piramal wants to exit its decade-plus insurance ventures with Shriram
Piramal Enterprises Ltd is planning to sell its holdings in Shriram Group’s insurance ventures for ₹4,000-5,000 crore, two people aware of the matter said, as it looks to sharpen focus on its core lending business...
NCLAT sets aside insolvency proceedings against Coffee Day Enterprises
The National Company Law Appellate Tribunal (NCLAT) on Thursday set aside insolvency proceedings against Coffee Day Enterprises Ltd (CDEL), the parent company of Café Coffee Day (CCD), dismissing a bankruptcy plea filed...
Sandoz Family to Sell $2.9 Billion Stake in Novartis
Novartis AG’s Sandoz family is poised to sell a roughly 1.2% stake in the Swiss pharmaceutical group. The Sandoz Family Foundation, through the vehicle Emasan AG, is offering 26.5 million shares via an accelerated...
Motilal Oswal PE arm buys majority stake in bulk drug maker Megafine for ₹460 crore
The alternative investment arm of Motilal Oswal Financial Services Ltd has acquired a majority stake in export-focused bulk drug maker Megafine Pharma Ltd for ₹460 crore, betting on its growth as global companies look...
Felix Pharmaceuticals seeks $200-250mn for controlling stake in pet drug subsidiary, Felix Generics, amid booming market
Felix Pharmaceuticals is looking to sell a controlling stake in its subsidiary, Felix Generics, which makes veterinary drugs for ‘companion pets’ such as dogs and cats, three people with knowledge of the development...
GoodGlamm in talks to sell ScoopWhoop to WLDD
Indian meme marketing startup Wubba Lubba Dub Dub (WLDD) is in talks to acquire ScoopWhoop from troubled content-to-commerce firm Good Glamm Group. The proposed sale of ScoopWhoop comes a week after the Prosus-backed...
