ICICI Securities shows a strong recovery from its lowest point. The National Company Law Appellate Tribunal (NCLAT) has upheld the decision to delist ICICI Securities from stock exchanges, clearing the way for its merger with ICICI Bank. To give some background, in June 2023, ICICI Securities announced plans to delist and become a wholly-owned subsidiary […]
NCLAT sets aside insolvency proceedings against Coffee Day Enterprises – CNBC TV18
The National Company Law Appellate Tribunal (NCLAT) has set aside an earlier order of the National Company Law Tribunal (NCLT) that had admitted Coffee Day Enterprises Ltd (CDEL), the parent company of Café Coffee Day, into the corporate insolvency resolution process (CIRP). A bench comprising Judicial Member Justice Sharad Kumar Sharma and Technical Member Jatindranath […]
NCLAT refuses stay on CoC reviewing Riju Raveendran’s BCCI settlement offer – CNBC TV18
Company Value Change %Change The National Company Law Appellate Tribunal (NCLAT) on February 19 refused to grant an interim stay on the Committee of Creditors (CoC) from considering or rejecting Riju Raveendran’s proposed ₹158 crore settlement with the Board of Control for Cricket in India (BCCI) in Byju’s ongoing insolvency proceedings. Raveendran, a director at […]
NARCL acquires ₹95,711 crore accounts; Govt stresses faster NCLT resolutions – CNBC TV18
The Secretary of the Department of Financial Services (DFS), M. Nagaraju, chaired review meetings today with stakeholders, including representatives from Public Sector Banks, the Insolvency and Bankruptcy Board of India (IBBI), the Ministry of Corporate Affairs (MCA), and the National Asset Reconstruction Company Limited (NARCL). Company Value Change %Change The meetings focused on enhancing the […]
Reliance to infuse ₹202 crore to settle Karkinos Healthcare’s debts, pledges ₹150 crore for revival – CNBC TV18
Reliance Industries Limited, through its wholly-owned subsidiary Reliance Strategic Business Ventures Limited (RSBVL), will infuse ₹202.16 crore to settle the debts of Karkinos Healthcare–a technology-led oncology platform led by former Tata Trusts official R Venkataraman– undergoing insolvency proceedings. Company Value Change %Change This development follows the approval of its resolution plan by the National Company […]
IL&FS Transportation Networks to sell expressway unit to Roadstar Investment for ₹545 crore – CNBC TV18
IL&FS Transportation Networks Ltd announced on Friday that it has signed a Share Purchase Agreement (SPA) to sell its subsidiary, Barwa Adda Expressway Ltd, to Roadstar Infra Investment Trust for ₹545.6 crore. The deal also involves assigning receivables owed by Barwa Adda, according to an exchange filing. This sale follows a National Company Law Tribunal […]
Zee Entertainment withdraws merger with Culver Max Entertainment and BEPL – CNBC TV18
Zee Entertainment Enterprises Ltd. (ZEEL) has announced the withdrawal of its long-discussed merger plan with Culver Max Entertainment Private Limited (formerly Sony Pictures Networks India) and Bangla Entertainment Private Limited (BEPL). The National Company Law Tribunal (NCLT), Mumbai, approved the recall of the merger order on 5th September 2024, allowing Zee to withdraw the scheme. […]
Pine Labs wins initial NCLT approval for merging Indian and Singapore entities, move base to India – CNBC TV18
Pine Labs has secured its initial approval from the National Company Law Tribunal (NCLT) to merge its domestic and Singapore entities, according to the tribunal order reviewed by Moneycontrol. This is a critical step for the Singapore-headquartered payments firm for shifting domicile back to India. The ‘first motion’ plea, which was listed first on March […]
NCLT greenlights merger of Slice and North East Small Finance Bank – CNBC TV18
In a major development for the Indian financial sector, Slice, a leading consumer payments and lending platform, has secured approval from the National Company Law Tribunal (NCLT) for its merger with North East Small Finance Bank (NESFB). The NCLT’s Guwahati bench sanctioned the Scheme of Arrangement and Amalgamation, which involves Garagepreneurs Internet Private Limited, Quadrillion […]
Tata Motors sets September 1 as record date for share capital reduction – CNBC TV18
Tata Motors Limited has designated September 1 as the record date to determine eligible shareholders for the reduction of its share capital, the company announced on Monday. The scheme, approved under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013, involves the cancellation and extinguishment of the company’s ‘A’ ordinary share […]