The National Company Law Appellate Tribunal (NCLAT) will hear two separate pleas involving the resolution plan of Birla Tyres next week. One of the pleas, filed by HDFC Bank challenging the joint resolution plan of...
Enel picks HSBC to sell India green portfolio
Italy’s Enel Group is looking to sell its entire renewable energy business in India and has hired HSBC for the transaction, two people aware of the development said. The proposed deal may have an equity value of around...
Future Retail RP files for liquidation in NCLT
The resolution professional (RP) of Future Retail Ltd (FRL) filed for liquidation, marking an inglorious end for the company that once led India’s retail revolution. On 30 September, creditors had rejected a resolution...
NCLT orders refund of IT dues to Cox & Kings
The Mumbai bench of the National Company Law Tribunal (NCLT) has directed the income tax department to refund ₹11.89 crore to insolvent travel firm Cox & Kings. “We direct the income tax department to refund the...
Byju’s in talks to sell US unit to Joffre Capital for $400m: Report
Byju’s is reportedly in advanced talks to sell its kids’ digital reading platform for roughly $400 million to Joffre Capital Ltd, in an effort to relieve its financial strain, according to a report from...
WeWork files for bankruptcy; From $50 billion to zero in 5 years
Co-working space firm WeWork Inc. has filed for Chapter 11 bankruptcy in New Jersey, as per a Bloomberg report. On November 1, the Wall Street Journal reported that WeWork plans to file its Chapter 11 petition for...
NCLT admits insolvency plea against Compuage Infocomm
The Mumbai bench of the National Company Law Tribunal (NCLT) on Friday admitted a plea seeking insolvency process against Compuage Infocomm. Plus Plus Unified Engagement, one of the financial creditors to the company...
Disney set to complete takeover of Comcast’s stake in Hulu for $8.6 billion
The Walt Disney Company announced it will buy Comcast’s $8.6 billion stake in Hulu, completing its takeover of the streaming service. The acquisition will “further Disney’s streaming objectives,”...
Butterfly’s merger with parent Crompton Greaves fails to gain nod
The public disapproval pushed shares of Butterfly Gandhimathi by 7% before they closed at ₹1085.4 apiece on the NSE. Shares of Crompton Greaves too closed marginally lower at ₹282 apiece. Despite holding a 75% stake in...
Zee-Sony merger: NCLAT transfers all cases to bench led by chairperson
The National Company Law Appellate Tribunal (NCLAT) transferred pleas filed by Axis Finance and IDBI Bank challenging the Zee-Sony merger to the bench of the chairperson, Ashok Bhushan. NCLAT’s move comes as the...
Tech Mahindra board approves merger by absorption of 3 subsidiaries
The board of directors of Tech Mahindra has approved the merger by Absorption of 3 subsidiaries of the firm and their respective shareholders. This announcement came alongside the company’s September quarter...
Kotak Mahindra gets RBI nod to acquire Sonata Finance for ₹537 crore
Kotak Mahindra, on Friday, received approval from the Reserve Bank of India to acquire Sonata Finance for ₹537 crore, the company said in its filing on Friday. The bank had announced to acquire 100% stake of the Non...
