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- Merger driven by Venture Capital - by Submitted on May 28, 2024 from hu ConsultancyThe Board of Directors of JHS Svendgaard Laboratories Limited announced merger of the company with private company Vedic Cosmeceuticals Private Limited. As acclaimed by the management, the product portfolio of Vedic Cosmeceuticals Private Limited is complimentary to that of JHS Svendgaard ...
Views: 82 - Centre decides stake sale of BPCL - by Submitted on Feb 24, 2020 from hu ConsultancyThe Union Cabinet has approved the sale of its 53.29% stake in Bharat Petroleum Corp Ltd (BPCL) to a private entity. The state-owned company is one of the most profitable oil refiners and operates fuel stations. At the prevailing market cap, the government expects to garner about Rs 56,000 crore ...
Views: 433 - Jet Airways Cross Border Insolvency Proceedings - by Submitted on Nov 28, 2019 from hu ConsultancyIn the Corporate Insolvency Resolution Process (CIRP) of Jet Airways (India) Ltd., the question came up for discussion on the validity and priority of the Insolvency proceedings being conducted at a country outside India, where the CIRP for Jet Airways is already initiated under Indian ...
Views: 538 - Total buys stake in Adani Gas to increase India footprint - by Submitted on Nov 27, 2019 from hu ConsultancyIn order to make a larger presence in India, Total SA will buy a 37.4% stake in Ahmedabad-based Adani Gas Ltd for Rs 6,200 crore. The French energy giant has made an open offer to public shareholders of Adani Gas to acquire up to 25% stake. It has offered to buy shares at 149.63 apiece, which ...
Views: 388 - RBI rejects proposed Lakshmi Vilas Bank-Indiabulls Housing Finance merger - by Submitted on Nov 26, 2019 from hu ConsultancyAfter a lot of scrutiny, Reserve Bank of India (RBI) finally rejected the proposed merger between Chennai-based Lakshmi Vilas Bank (LVB) and Gurugram-based Indiabulls Housing Finance Limited (IBHFL). The proposed merger plan was crucial for Lakshmi Vilas Bank as it would have helped it raise ...
Views: 394 - Sterling Biotech promoters gets a breather as NCLAT halts liquidation process - by Submitted on Oct 07, 2019 from hu ConsultancyIn a landmark ruling, the National Company Law Appellate Tribunal (NCLAT) has set aside National Company Law Tribunal (NCLT) order to liquidate Sterling Biotech. It has also directed that the management should be handed over to its promoters if the dues of creditors are settled. In an oral ...
Views: 388 - Implications of Appointed Date in the Scheme of Merger - by Submitted on Oct 03, 2019 from hu ConsultancySection 232(6) of the Companies Act, 2013 states that the appointed date with respect to a scheme of merger and amalgamation means the date from which the scheme becomes effective. That means the appointed date and effective date of the scheme has to be one and same. Since there needed some ...
Views: 393 - Shares with Superior Voting Rights - by Submitted on Sep 25, 2019 from hu ConsultancyAn equity share with differential rights is like an ordinary equity share, but it provides more or fewer voting rights to the shareholder. The difference in voting rights can be achieved by increasing or reducing the degree of voting power. Companies Act, 2013 allows shares with superior and ...
Views: 471 - Ebix acquires Yatra to consolidate its position - by Submitted on Sep 23, 2019 from hu ConsultancyUS software firm Ebix has acquired Nasdaq-listed Yatra Online Inc to boost its India travel ventures at an enterprise value of $336 million, or Rs 2,350 crore in an all stock deal. Once the transaction is complete --- the deal marks Ebix's biggest acquisition till date in India --- it is ...
Views: 462 - Jet Airways goes to NCLT - by Submitted on Aug 19, 2019 from hu ConsultancyA consortium of 26 bankers led by State Bank of India (SBI) have finally decided to take the grounded Jet Airways to bankruptcy court after failing to revive the company and find buyers. Insolvency proceedings have been initiated against debt-ridden Jet Airways, which stopped flying on April 17. ...
Views: 562 - Tata Steel acquires Bhushan through IBC route - by Submitted on Jun 24, 2019 from hu ConsultancyTata Steel has acquired Bhushan Steel (BSL) through its wholly-owned subsidiary Bamnipal Steel Ltd (BNL) through a resolution under the Insolvency and Bankruptcy Code (IBC). Tata Steel has taken a controlling stake of 72.65% in BSL and paid the admitted corporate insolvency costs and employee ...
Views: 431 - RIL's e-commerce push: Will Reliance Retail be the next Jio? - by Submitted on Jun 21, 2019 from hu ConsultancyReliance Industries Limited (RIL) is a Fortune 500 company and the largest private sector corporation in India. Reliance’s products and services portfolio touches almost all Indians on a daily basis, across economic and social spectrums. The company has evolved from being a textiles and ...
Views: 422 - Stamp duty on High Court/NCLT orders of Amalgamations of Companies in Different States - by Submitted on Jun 19, 2019 from hu ConsultancyThere have been a lot of mergers/amalgamations over the years where the transferor and transferee companies are registered in different states and have assets in different states. Any Amalgamation is carried out by drafting a scheme detailing the transfer of business in whole for consideration ...
Views: 418 - L&T attempts hostile takeover of Mindtree - by Submitted on May 29, 2019 from hu ConsultancyThe country’s largest engineering and construction conglomerate Larsen and Toubro (L&T) has now been cast as an avaricious acquirer after it made hostile bid to take over Bengaluru-based I-T services company Mindtree. As a first move to one of the largest hostile takeovers India Inc. has seen, ...
Views: 566 - Indian companies look at South East Asia for M&As - by Submitted on May 16, 2019 from hu ConsultancyIndian companies are increasingly looking at South East Asian countries for business and mergers and acquisitions (M&As) because there is a good strategic and cultural fit with companies in the region. Indian companies in sectors such as healthcare, consumer and industrials have done M&As with ...
Views: 507 - Hitting four birds with one Bullet: Bandhan Bank and Gruh Finance merge - by Submitted on Apr 30, 2019 from hu ConsultancyA new entrant in the banking space, Bandhan Bank has acquired HDFC Ltd-promoted Gruh Finance in an all-share deal. On January 7, 2019, the board of directors of Bandhan Bank and Gruh Finance approved the merger subject to regulatory and shareholder approvals. The merger will reduce the promoter ...
Views: 460 - Retail sector to drive M&A growth - by Submitted on Feb 21, 2019 from hu ConsultancyWith changing demographic profile of India, rapid urbanisation, spread of digital payments and increasing purchasing power, the retail sector is poised for a quantum leap. India is becoming one of the largest preferred retail destinations globally. The early indications are showing up now. In ...
Views: 488 - Slump Sale of Defense Business by Tata Motors - by Submitted on Nov 27, 2018 from hu ConsultancyTata Group is one of the oldest and biggest group in the country. The group has many companies and we always see restructuring happening in the group and subsidiaries year after year. There can be many reasons behind internal restructuring like better group structure, selling of profitable or ...
Views: 552 - MERGER OF LLP INTO COMPANY - by Submitted on Aug 20, 2018 from hu ConsultancyProvisions of Compromises, Arrangements, Amalgamation and Reconstruction are dealt in the Companies Act, 2013 under sections 230-234. Amalgamations are also treated in the LLP Act. 2008. But there is no explicit mentions for dealing with merger of LLP into Company or other way around. We look at ...
Views: 631 - Management Buy-out - by Submitted on Aug 18, 2018 from hu ConsultancyWhat is Management Buy-out (MBO): In an ideal MBO, financial institutions or other fund lending institutions act like venture capitalist and support management of the company in buying out stakes from the promoter(s) of the company. This changes the control of the business. The entire ...
Views: 574 - Merger of four loss-making PSU banks on the cards - by Submitted on Jul 19, 2018 from hu ConsultancyTo order to bring in efficiency in the functioning of loss-making public-sector banks (PSBs), the government is considering merging at least four such banks because of rising bad loans. The four banks are Oriental Bank of Commerce, Bank of Baroda, Central Bank and IDBI Bank with a combined loss ...
Views: 559 - REDUCTION OF SHARE CAPITAL: SAGAR SOYA - by Submitted on Jun 21, 2018 from hu ConsultancySection 66 of the Companies Act, 2013 allows companies to reduce their share capital. The scheme of Reduction of share capital is undertaken by companies in the following manner: Company can extinguish or reduce its liability on its unpaid share capital. Company can extinguish or reduce its ...
Views: 523 - Implementation of SPACs in India – Key Regulatory challenges - by Submitted on Jun 18, 2018 from hu ConsultancySpecial Purpose Acquisition Vehicles (SPACs) have emerged as a promising option to raise public funding from offshore markets. They are especially suited for start-ups, who otherwise find it difficult to excite the conservative Indian retail investors. This has become all the more critical as ...
Views: 605 - Changes in ownership in asset management companies - by Submitted on Jun 14, 2018 from hu ConsultancyAt a time when Indian individuals are increasingly investing in mutual funds to build long-term corpus and assets under management (AUM) of the industry are growing rapidly, there are ownership changes happening in India mutual fund industry. With DSP Group -- headed by Hemendra Kothari -- ...
Views: 540 - Redemption Opportunity for Disqualified Directors - by Submitted on Apr 13, 2018 from hu ConsultancyIn September 2017, Ministry of Corporate Affairs (MCA) identified many directors associated with the companies that had failed to file financial statements or annual returns for a continuous period of three financial years 2013-14, 2014-2015 and 2015-2016 and consequently they became ...
Views: 743 - Bankruptcy law will spur M&A deals - by Submitted on Mar 19, 2018 from hu ConsultancyEver since the government introduced the bankruptcy law, host of companies right from steel, power, cement and construction have put their distressed assets on sale and potential bidders are chalking out deals to snap up assets of loan defaulting companies. The wave of deal-making can push ...
Views: 614 - Stuck in corporate liquidation hurdles? Here are some solutions - by Submitted on Mar 15, 2018 from hu ConsultancyOne of the fundamental features of the Insolvency and Bankruptcy Code, 2016 (Code) is to resolve disputes in a timely manner — a window of 180 days extendable to 90 days — — given to the Insolvency Professional to help revive the company. Otherwise, it triggers mandatory liquidation due to ...
Views: 614 - Is Slump sale is better option than piecemeal Liquidation? - by Submitted on Feb 21, 2018 from hu ConsultancyThe Insolvency and Bankruptcy Code 2016 aims at reviving companies that are going for liquidation. If reviving the company is not possible, the code will enable to liquidate the company in a judicial and rational manner so that it serves the interests of all stakeholders and the public at large. ...
Views: 665 - Empowered Shareholders activism decide fate of Related Party Transactions - by Submitted on Jan 24, 2018 from hu ConsultancyShareholders are the owners of the corporations. Shareholders have the right to access and examine the corporate records and information concerning the governance and financial performance of the corporate. With the changing time, shareholders are increasing their active engagement in the ...
Views: 651 - Insolvency & Bankruptcy Code, Section 238: Exploited or Rightly Used - by Submitted on Jan 19, 2018 from hu ConsultancySection 238 of the Insolvency and Bankruptcy Code, 2016, which is termed as a non-obstante clause is once again came into picture in the case of Power Grid Corporation of India Ltd. Vs Jyoti Structures Ltd, after its detailed analysis made by judiciary in the matter of Innoventive Industries ...
Views: 712 - Thomas Cook’s Sterling Move - by Submitted on Jan 04, 2018 from hu ConsultancyBillionaire investor Prem Watsa-backed Thomas Cook India had acquired vacation ownership Sterling Holiday Resorts for Rs 870 crore, marking its foray into the hospitality sector. For Thomas Cook, it was the second purchase after Ikya Human Solutions in February 2013. The transaction was ...
Views: 805 - Defaulting Promoters barred from being Resolution Applicants - by Submitted on Dec 18, 2017 from hu ConsultancyThe long time discussed subject of credibility of the resolution process under the Insolvency and Bankruptcy Code,2016, which is dependent on the sustainability of the Resolution Plan and credibility of the Resolution Applicant, is now settled by the Insolvency and Bankruptcy Board of ...
Views: 779 - Government Merges NSEL with FTIL - by Submitted on Dec 07, 2017 from hu ConsultancyNATIONAL SPOT EXCHANGE LIMITED DRAFT ORDER ON AMALGAMATION OF NATIONAL SPOT EXCHANGE LIMITED WITH FINANCIAL TECHNOLOGIES (INDIA) LIMITED Ministry of Corporate Affairs, on behalf of the Central Government, has issued a Draft Order on amalgamation of National Spot Exchange Limited with ...
Views: 781 - Ashish Hemrajani: If there is a pullback, there is an opportunity - by Submitted on Dec 02, 2017 from hu ConsultancyLeadership & Quotes: Ashish Hemrajani Ashish Hemrajani has made life simple for avid movie-goers. With the click of a bottom, you can book movie tickets and reach the theater on time to enjoy the silver screen. The founder and chief executive officer of Bigtree Entertainment Pvt. Ltd, ...
Views: 983 - Public Sector Bank Mergers- A myth becoming a reality? - by Submitted on Nov 24, 2017 from hu ConsultancyAbout thirteen years back when an article was penned in this magazine ( ‘Bank Mergers - The fall out and shape of things to come’ –M&A Critique Issues October to December 2004), it was foretold that eventual mergers of Public Sector Banks (PSBs) in India was an economic necessity for becoming ...
Views: 777 - Once a promoter always a promoter? - by Submitted on Nov 15, 2017 from hu ConsultancyShareholders in a listed company are classified under two broad categories, i.e. those that belong to the promoter/promoter group and those shareholders who are members of the public with no family or formal business ties with the promoter/promoter group. SEBI vide Regulation 31A under Chapter ...
Views: 798 - Impact of mergers on small investors - by Submitted on Nov 05, 2017 from hu ConsultancyWhile companies go for mergers to consolidate market share and strengthen geographical presence, small investors may not always gain much from mergers. Companies merge to improve the wealth of their shareholders, but it can affect the shareholders of both companies in different ways. The ...
Views: 712 - Merger & Acquisition – The Telecom Way - by Submitted on Oct 27, 2017 from hu ConsultancyA panel of Ministers called the EGoM (Empowered Group of Ministers) approved the final draft of the much-awaited merger & acquisition (M&A) guidelines for the Telecom sector which are likely to support the consolidation of the Telecom companies. The M&A guidelines will now be sent to the Union ...
Views: 660 - NCLT PUTS INNOVENTIVE INDUSTRIES ON LIQUIDATION COUNTDOWN - by Submitted on Oct 18, 2017 from hu ConsultancyInnoventive Industries, India’s first company to be tried under the new Insolvency and Bankruptcy Code, has failed to finalize a debt resolution plan in the stipulated six months, prompting the National Company Law Tribunal (NCLT) to extend the deadline by another three months – the maximum ...
Views: 801 - IndusInd-Bharat Financial: Reaching bottom-of-the-pyramid customers - by Submitted on Oct 16, 2017 from hu ConsultancySignaling consolidation in the private banking space, IndusInd Bank and Bharat Financial Inclusion Ltd (BFIL), formerly known as SKS Microfinance, are in the final stage of merger talks. The two companies have signed an exclusivity agreement to hammer out a deal before the end of this financial ...
Views: 819 - IS ALL ADVANCE AMOUNTS TO LOAN? - by Submitted on Oct 13, 2017 from hu ConsultancyTerm loans and advances as defined in Banking Regulation Act can be used interchangeably. The act defined “secured loan or advance" means a loan or advance made on the security of assets the market value of which is not at any time less than the amount of such loan or advance, and defined ...
Views: 787 - BACL merges two group holding cos to increase shareholders’ value - by Submitted on Oct 09, 2017 from hu ConsultancyOn June 12, 2017 Bengal and Assam Company Ltd announced the scheme of arrangement between Florence Investech Ltd., BMF Investments Ltd., J.K. Fenner (India) Ltd., and Bengal and Assam Company Ltd. Bengal & Assam Company Ltd (BACL) is a public limited company incorporated in the year 1947. The ...
Views: 871 - Timken India: Acquires ABC Bearing - by Submitted on Sep 22, 2017 from hu ConsultancyABC Bearings is engaged in the business of engineering, product design, manufacturing, distribution and sale of bearings including inter alia taper roller bearings (contributes over 80% of the total revenue- Mar 16), cylindrical roller bearings, spherical roller bearings and slewing bearings; ...
Views: 977 - IMPLICATION OF GOODS & SERVICES TAX (GST) ON SLUMP SALE - by Submitted on Sep 15, 2017 from hu ConsultancyThe taxation regime for “Slump Sale” deals in India has always been a matter of differential judicial views and even before the advent of latest overhauled indirect tax structure, the position was scarcely settled when it comes to Slump Sale taxation rule. This Article, analyses and attempts to ...
Views: 1011 - M/s. New Delhi Television Ltd. Vs. ACIT - Case Law - by Submitted on Sep 11, 2017 from hu ConsultancyFacts of the Case NDTV along with its Subsidiaries entered into an agreement dated 23.05.2008 with NBC Universal Inc and Universal Studios International BV, as a result of the same, INR 642.54 cr (9,15,498 Shares @ INR 7015.05 per share) was received by NNIH, for allotting shares to NBC ...
Views: 678 - Escorts - Excel Through Re-Engineering - by Submitted on Sep 07, 2017 from hu ConsultancyWhile the agriculture sector may not be a major contributor to India’s GDP, India still ranks second worldwide in farm output. HP Nanda knew that the country which runs on agriculture can make his fortune by manufacturing product related to it (tractor). When tractors came to India through ...
Views: 886 - Aditya Birla Chemicals merges with Grasim Industries - by Submitted on Sep 01, 2017 from hu ConsultancyIn a consolidation move between group companies, Aditya Birla Chemicals Limited (ABCIL) merged with Grasim Industries Limited. The merged consolidated Aditya Birla Group’s chlor-alkali business into Grasim and strengthened its existing portfolio of viscose staple fiber, caustic soda and allied ...
Views: 897 - Taking Healthcare To Greater Heights - by Submitted on Aug 28, 2017 from hu ConsultancyHealthcare has become one of India's largest sectors ‐ both in terms of revenue and employment in the country. The industry comprises hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance and medical equipment. The healthcare industry is ...
Views: 720 - IDFC-Shriram merger: Potential to create a large financial conglomerate - by Submitted on Aug 18, 2017 from hu ConsultancyIDFC and Shriram Group have agreed to merge to create a financial conglomerate and offer various types of retail and corporate loans. The companies will finalise the deal within 90 days (from mid-July 2017). If the deal finally happens and gets all regulatory clearances, then it can create a ...
Views: 867 - CROSS BORDER MERGERS - by Submitted on Aug 02, 2017 from hu ConsultancyThe enforcement of the relevant provisions pertaining to Cross Border Mergers contained in the Companies Act, 2013 by the Ministry of Corporate Affairs with corresponding provisions in Companies (Compromises, Arrangements and Amalgamation) Rules, 2016, including insertion of the Rule 25A and ...
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