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ARC association seeks provision in IBC to prevent liquidation; they want to intervene to save companies from forced liquidation.
Inter-creditor agreement signing in process and more recoveries expected from NCLT accounts in Q2.
The creditors have approved the resolution plan submitted by Ingen Capital who are offering 10% equity apart from the Rs 10,000 Cr bid amount. This offer is slightly better than the liquidation value of the company.
Ravi Rajagopal, Chairman, Fortis Health says that he is glad that they had two committed bidders in the bidding process and says the open offer will come after preferential allotment.
Patanjali Ayurved has raised questions of conflict of interest, they want RP to clarify if Adani Wilmar bid compliant u/s 29(A) of IBC.
Our reporter Chetan Bhutani says the last procedure that was due in RIL bagging Alok Industries has been completed.
With integration of Jio and retail, new e -commerce business can be expected to shape up as RIL hits back in $100 bn market capitalisation.
Battle stretches between Binani Ind-Ultratech & Dalmia Bharat and Dalmia Bharat had first emerged as the H1 bidder.
TCS CEO says Digital demand has accelerated and the BFSI vertical has recovered well.
ICICI Lombard sells 17.7 Lk shares or 0.84% equity at Rs 270/sh
In pact with Reliance Nippon to sell Mutual Fund products
Nextgen Vakrangee Kendras to offer mutual fund distribution on pan India basis
Plans to sell part of se Asia biz as part of strategy to exit non scalable biz
To sell Singapore & Thailand units valuing them at $ 500Mn
Singapore & Thailand biz contributes 16% to revenues & 2% to EBITDA
To turn focus to domestic market
Avendus cap-KKR emerge as frontrunner to acquire IDFC MF
Offer of Rs 3,000-4,000 Cr made by FIN services firm