Digital transformation and custom software engineering service Ness Digital Engineering has acquired CassaCloud. Based out of Slovakia, CassaCloud is a consultancy which specialises in salesforce implementation...
‘Cabinet approved disinvestment of stake in NINL, not NMDC’
NMDC Chairman and Managing Director N Brijendra Kumar on Friday said that the Union Cabinet has approved disinvestment of stake of six public sector units (PSUs) in Neelachal Ispat Nigam Ltd, and not that of NMDC...
Better Realisation: Eyeing one-time settlement for more IBC cases
State-run lender United Bank of India, which is working on different integration processes as per the schedule for the three-way bank merger, has withdrawn “a couple” of insolvency petitions, which it had filed against...
Allahabad-Indian Bank merger: Harmonisation likely by mid-February
As part of the merger of Allahabad Bank with Indian Bank, harmonisation of banking products, policies and processes for the amalgamated entity is likely to be completed by mid-February. Harmonisation of policies...
Future Retail board approves raising funds up to $500 million
Kishore Biyani-led Future Retail on Saturday said its board has approved raising of long-term funds up to USD 500 million (around Rs 3,588 crore) for the acquisition of certain in-store infrastructure retail assets...
Lack in compliance with SEBI norms to likely trigger DMart promoters sell this much stake
Hypermarket chain DMart promoters are likely to pare stake of around 5.2 per cent stake in the company through block deal this month. This comes around five months after promoter Radhakishan Damani had sold 0.98 per...
SBI invites bids to sell 1% stake in NSE
The country’s largest lender SBI on Friday said it is looking to sell 50 lakh shares representing 1.01 per cent stake in the National Stock Exchange (NSE) as part of its capital raising exercise. Currently, State Bank...
IBC to be amended to protect new owners of bankrupt companies
The Centre is set to alter the insolvency code to shield new owners of bankrupt companies from criminal liabilities pertaining to the time when the entities were controlled by the outgoing promoters, three people...
Vardhman Industries case: NCLAT sets aside conditions imposed on JSW Steel
The National Company Law Appellate Tribunal (NCLAT) has set aside conditions imposed on JSW Steel by the Delhi bench of the National Company Law Tribunal, relating to unrecovered dues, carried forward losses and rights...
Work is on to amend IBC to address cross-border insolvency: MS Sahoo
Insolvency and Bankruptcy Board of India chairman M S Sahoo on Saturday said work is on to amend the Insolvency and Bankruptcy Code 2016 that will address cross-border insolvency. On Thursday, Sahoo had said the...
Sufficient interest for Air India, says DIPAM secretary
As the Centre gears up to invite fresh expressions of interest (EoIs) soon for the sale of its entire stake in debt-ridden Air India, the DIPAM (Department of Investment and Public Asset Management) secretary Tuhin...
SC restores CoC status, IBC process gets a leg-up
Friday’s landmark Supreme Court judgment in the Essar Steel case establishes the primacy of secured financial lenders as the final arbiters of how sale proceeds from a stressed asset under Insolvency and Bankruptcy...
