US SC clears extradition, Tahawwur Rana to face trial in India, ET LegalWorld
US Supreme Court has refused to entertain Mumbai attacks accused Tahawwur Rana’s plea against extradition to India, clearing the way for Indian investigators to bring him to the country. The review petition was turned down on Jan 21, removing the last hurdle in the extradition of Pakistani native and Canadian national Rana, an aide of […]
CCI clears merger of nine pharma entities with Sequent Scientific, ET LegalWorld
The Competition Commission on Tuesday cleared the proposed amalgamation of nine entities with pharmaceutical firm Sequent Scientific Ltd (SSL). “The proposed combination involves a series of inter-connected steps carried out for the amalgamation of SRL, Viyash, Symed, Appcure, Vindhya Pharma, Vandana, Vindhya Organics, Geninn and SV Labs with SSL as the ultimate surviving entity,” CCI […]
NCLT clears Reliance’s ₹200 cr plan for Karkinos Healthcare with 100% creditor settlement, ET LegalWorld
Highlights The National Company Law Tribunal has approved a resolution plan for Karkinos Healthcare Private Limited, a financially distressed oncology company based in Mumbai. Reliance Strategic Business Ventures Limited has acquired Karkinos Healthcare Private Limited for ₹200 crore, which includes the settlement of 100% of creditors’ dues. The Corporate Insolvency Resolution Process was completed within […]
CCI probe clears DHL, FedEx, UPS of price collusion allegations, ET LegalWorld
An Indian antitrust investigation has concluded there was no price collusion between the domestic units of delivery companies DHL, United Parcel Service and FedEx, according to three sources and a document seen by Reuters. The Competition Commission of India (CCI) ordered an investigation in 2022 into more than a dozen delivery companies for alleged collusion […]
Centre clears Delhi HC Chief Justice Manmohan’s appointment as Supreme Court judge, ET LegalWorld
The Centre on Tuesday notified the elevation of Delhi High Court’s Chief Justice Manmohan as a judge of the Supreme Court. In a related post, Minister of State, Ministry of Law and Justice (independent charge) Arjun Ram Meghwal on X wrote, “In exercise of the powers conferred by the Constitution of India, the President, after […]
CCI clears Google’s $350 million funding in Flipkart, Temasek’s investment in Rebel Foods, ET LegalWorld
The Competition Commission of India (CCI) has granted clearance for Google’s $350 million minority investment in Walmart-owned Flipkart, the antitrust regulator said on Tuesday. It also cleared the investment by Singapore’s sovereign wealth fund Temasek in cloud kitchen startup Rebel Foods. Google’s investment in Flipkart is part of a nearly $1 billion funding round that […]
Vedanta demerger moves ahead as NCLT clears way for meetings of shareholders, creditors, ET LegalWorld
Mining major Vedanta Ltd on Friday said the Mumbai bench of the NCLT has asked the company to call for a meeting of its secured and unsecured creditors and shareholders in the next 90 days to discuss the proposed demerger. The proposed demerger will create independent companies housing aluminium, oil and gas, power, steel and […]
CCI clears Temasek, Apax Partners additional stake buy in Thoughtworks, ET LegalWorld
The Competition Commission of India (CCI) on Tuesday cleared Singapore’s sovereign wealth fund Temasek and Apax Partners’ proposal to acquire an additional stake in Thoughtworks Holding Inc. Thoughtworks is a global technology consultancy company providing IT consultancy and application implementation and managed services. “CCI approves the proposed combination involving the acquisition of an additional shareholding […]
National Company Law Tribunal clears Casper Pharma’s merger with Suven Pharmaceuticals, ET LegalWorld
The Mumbai bench of the National Company Law Tribunal (NCLT) has approved Casper Pharma’s merger with listed drug maker, Suven Pharmaceuticals. In April 2022, Suven Pharmaceuticals acquired Casper Pharma (CPPL) for about Rs 155 crore. CPPL had an installed capacity of 120 crore tablets and capsules at the time of the acquisition by Suven Pharmaceuticals. […]
CCI clears JM Financial’s 43 pc stake buy in JM Fin Credit Solutions, ET LegalWorld
Fair trade regulator CCI on Tuesday cleared JM Financial’s proposed acquisition of a 43 per cent stake in JM Financial Credit Solutions Ltd. JM Financial Credit Solutions is an RBI-registered systemically important non-deposit-taking non-banking finance company (NBFC). It is a subsidiary of JM Financial Ltd (JMFL). It is engaged in wholesale lending activities with a […]