The National Company Law Tribunal (NCLT) is scheduled to address ICICI Bank’s insolvency petition against Supertech Township Project Limited on August 16. This decision follows the deferral of the hearing that had...
ITC board approves acquiring 25% stake of Maharaja Heritage from Russel Credit
The board of the ITC has approved acquiring a 25% stake in Maharaja Heritage from Russel Credit. The shareholders will get one hotel company share for 10 held in the company. The indicative timeline for listing ITC...
Biocon to close Viatris merger by FY24 end
Biocon Biologics Ltd expects to conclude the merger with Viatris’ biosimilars portfolio in FY24, chief executive Shreehas Tambe said on Friday. “We are looking to complete the transition ahead of time. We planned a two...
Investment Bank Lincoln International acquires local valuations firm
Lincoln International, a global investment banking advisory firm, has acquired EthiQuant Analytics, a valuations services provider, enhancing the firm’s ability to offer a well-rounded financial solution to its clients...
Cafe Coffee Day insolvency: NCLAT Chennai stays the case, hearing scheduled for September
The Chennai Bench of National Company Law Appellate Tribunal (NCLAT) has stayed the admission of corporate insolvency case brought by National Company Law Tribunal (NCLT) Bengaluru against the coffee chain firm, Cafe...
Actis to buy Patel Infra’s 5 roads for around $91 mn
Private equity (PE) firm Actis Llp has agreed to acquire five hybrid annuity model (HAM) road projects from Patel Infrastructure Ltd at an equity value of around $91 million, two people aware of the development said...
L&T eyes green energy, plans to sell non-core biz as Naik exits
I am leaving, but I am still there,” said A. M. Naik, the departing chairman of engineering and construction giant Larsen & Toubro (L&T) Ltd, while addressing his final and the conglomerate’s 78th annual...
Reliance Capital sells 45.43% stake in Reliance Home Finance for ₹54.5 crore
Anil Ambani’s Reliance Capital sold 45.43% (22,03,69,188) equity shares in Reliance Home Finance for ₹54.5 crore in open market, the company said in a stock exchange filing. With this move, the shareholding of the...
Ananya Birla’s Svatantra buys Sachin Bansal’s Chaitanya for ₹1,479 crore
Almost a year after the Reserve Bank of India rejected Sachin Bansal’s universal banking licence, Flipkart co-founder has sold the microfinance company he acquired in September 2019. Ananya Birla’s Svatantra Microfin...
Carlyle to buy 30% of Quest Global for $500 mn
Private equity (PE) giant Carlyle has agreed to acquire a significant minority stake in engineering services firm Quest Global, the two companies said on Tuesday. Simultaneously, Carlyle and Quest will together buy back...
NCLAT to hear lenders’ plea against Jet Airways’ winning bidder Jalan Kalrock consortium today
The National Company Appellate Tribunal (NCLAT) will hear the plea filed by Jet Airways’ lenders, led by SBI, against the winning bidder Jalan Kalrock consortium to recover pending dues. Last month, the lenders...
ICICI Bank gets RBI’s nod to raise stake in ICICI Lombard
The Reserve Bank of India (RBI) has given approval to the ICICI Bank for raising stake in one of its subsidiaries ICICI Lombard General Insurance Company Limited. The central bank of India has granted ICICI Bank to...
