The National Company Law Tribunal (NCLT) on Wednesday asked the lenders to delay the second auction for Reliance Capital, which was scheduled for Thursday, till January 23 as it could not complete hearing arguments from both sides. Torrent Investment, the winning bidder of the first round of auction of Anil Ambani-promoted Reliance Capital, had moved [...]
Anil Agarwal-promoted Vedanta on Wednesday said it will acquire bankrupt thermal power company Meenakshi Energy for Rs 1,440 crore through an insolvency process. Vedanta which made the highest bid for the thermal power company emerged as the successful bidder. "Post submission of bid for Meenakshi Energy Limited under Corporate Insolvency Resolution Process (CIRP) under IBC, [...]
Jubilant Food Works Ltd, a food services player, has opened its first restaurant of the American fried chicken brand, Popeyes in the city, a top official of the company said on Wednesday. The company inaugurated its first restaurant in Bengaluru, which was followed by rapid expansion to 12 restaurants across the city in less than [...]
Dr Reddy's Laboratories on Wednesday said it has reduced the price of its cardiovascular drug Cidmus. The drug comprises combination of sacubitril and valsartan and is indicated for heart failure patients. The company's Cidmus tablets are available in three strengths – 50mg, 100mg and 200mg, to be taken twice a day. "Following the price reduction, [...]
Steel manufacturer Tata Steel has set up a Centre for Innovation in Mobility at the Indian Institute of Technology, Madras Research Park here, to develop application technologies for current and future mobility platforms, the company said on Wednesday. The Centre would work closely with academia and the mobility industry. It has facilities for Computer Aided [...]
Adani Green Energy arm Adani Renewable Energy Holding Two Ltd will acquire 50 per cent equity in Essel Saurya Urja Company of Rajasthan Ltd from Essel Infraprojects for Rs 15 crore. Adani Renewable Energy Holding Two Ltd (ESUCRL) has entered into a binding term sheet with Essel Infraprojects Ltd on January 17, 2023 to this [...]
360 ONE (earlier known as IIFL Wealth & Asset Management) on Wednesday said it has completed the acquisition of controlling stake in early-stage venture investments platform Mumbai Angels. Mumbai Angels, one of the leading players in the early-stage investment space, will now be looking at deals with a deeper penetration in the early-stage startup pool, [...]
Automobile after-sales service startup GoMechanic co-founder Amit Bhasin on Wednesday admitted to errors in financial reporting, following which a forensic audit has been ordered and a business restructuring undertaken which will see 70 per cent of the 1,000-odd workforce being laid off. Nearly two years after it raised a mammoth USD 42 million in funding, [...]
Homegrown Salasar Techno Engineering Ltd (STEL) on Wednesday said it has secured a Rs 143 crore contract from the Nepal government. "The order is for procurement of materials, associated accessories and necessary installation services including design and commissioning of 33/11 KV substations and 33 KV, 11 KV, 400 V lines and distribution systems networks," the [...]
Heavy commercial vehicle maker Ashok Leyland has bagged an order from the Sri Lankan Transport Board to supply 500 buses. Sri Lanka Transport Board is the state owned single largest bus transport provider with 110 depots throughout the island nation and operates buses in city routes, hilly and rural routes and also in long distance [...]
