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...
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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...
Mumbai-based Cliqtrade Stock Brokers buys 10% more stake in Asit C Mehta
Mumbai-based Company Cliqtrade Stockbrokers Pvt Ltd promoted by the founders of Pantomath Financial Services Group, has acquired a significant stake in Asit C Mehta Financial Services Ltd (ACMFS), a listed firm on the...
Sun Pharma acquires 26.09% stake in Agatsa Software, 27.39% in Remidio Innovative Solutions
Drug major Sun Pharma has announced that it has acquired a 26.09% stake in Agatsa Software Private Limited, which is in an early-stage digital diagnostic devices company, for ₹30 crore in two tranches. The acquisition...
NCLT approves Reliance Industries, ACRE joint bid to acquire Sintex Industries
Reliance Industries and Assets Care & Reconstruction Enterprise (ACRE) have secured approval for their joint bid to acquire debt-ridden textiles maker Sintex Industries from the National Company Law Tribunal (NCLT)...
Adani Power’s deal to acquire DB Power expires
Billionaire Gautam Adani-Adani Power’s planned ₹7,017-crore acquisition of thermal power assets of DB Power Ltd has collapsed as the deadline to complete the transaction expired. The agreement to acquire the...
