Samvardhana Motherson Automotive Systems — a subsidiary of Samvardhana Motherson International Limited has fully acquired SMR Jersy as its stake in SMR Jersy has surged to 100 per cent in latest 1.55 per cent stake buy...
Harris Associates sells entire Credit Suisse stake
Harris Associates sold its entire stake in Credit Suisse Group AG, according to the Financial Times, ending ties with the firm after about two decades of ownership and piling further pressure on the Swiss bank’s...
Doms acquires 30% stake in toy company ClapJoy
Doms Industries Pvt. Ltd, controlled by Italian stationery company F.I.L.A. Group, has acquired a 30% stake in toymaker ClapJoy Innovations for an undisclosed amount. The move is part of Doms Industries’ strategy to...
Kansai Nerolac Paints acquires 40% stake of Nerofix from Polygel for ₹37 crore
The Board of Kansai Nerolac Paints (KNPL) has approved the acquisition of shares (40 per cent of the total shareholding) of Nerofix from Polygel for a cash consideration of ₹37 crore. In January 2020, KNPL had acquired...
NCLAT clears decks for RCap’s second auction
The National Company Law Appellate Tribunal (NCLAT) on Thursday allowed a plea by the committee of creditors (CoC) of Reliance Capital Ltd to hold a second auction of the bankrupt lender. Vistra ITCL, one of the secured...
Marico, RP differ over FRL insolvency
Consumer products company Marico moved the National Company Law Tribunal (NCLT) seeking its intervention in admitting its claims as part of Future Retail’s corporate insolvency resolution process. Rishabh Jaisani, the...
NCLT exceeds brief in RCap insolvency: Vistra ITCL
Vistra ITCL, Reliance Capital’s secured lender, has submitted to the National Company Law Appellate Tribunal (NCLAT) that the NCLT has acted beyond its jurisdiction at a stage where even signed plans have not been...
Insurtech firm Turtlefin acquires Last Decimal to boost bancassurance vertical
Insurtech platform Turtlefin has acquired Last Decimal, an insurtech SaaS company, to expand its bancassurance business, said the firm. Turtlefin provides end-to-end tech solutions to enable insurance sales and services...
Axis Bank-Citibank deal to be completed by March 1
Private sector lender Axis Bank on Thursday said that the deal to acquire Citibank’s India’s consumer business and NBFC business is expected to completed by 1 March 2023. Axis Bank will acquire Citibank’s...
SpiceJet likely to sell 5% stake to aircraft lessor
Low-cost carrier SpiceJet Ltd might swap 5% of its equity for dues owed to its largest aircraft lessor, US-based Carlyle Aviation Partners, two people informed of the development said. “The proposed deal is expected to...
Tata Steel acquires shares worth ₹300 cr in NINL, shareholding increases to 5.23%
Tata Steel on Wednesday announced that it has acquired shares amounting to ₹300 crore in Neelachal Ispat Nigam Ltd, which is an indirect subsidiary of the company. Tata Steel on February 21, 2023, has subscribed to...
NCLT admits IBC pleas of IndusInd against ZEE, Siti
The Mumbai bench of the National Company Law Tribunal (NCLT) on Wednesday admitted an insolvency petition against homegrown media company Zee Entertainment Enterprises Ltd (ZEE) filed by its financial creditor IndusInd...
