Agro Tech Foods’ acquisition of Bharti Group-Del Monte JV firm gets CCI nod, ET LegalWorld
The Competition Commission of India (CCI) on Tuesday approved three deals, including the acquisition of Del Monte Foods–a joint venture between the Bharti Group and Del Monte Pacific–by Agro Tech Foods. Bharti had held 59.29% in the JV and Del Monte Pacific the rest. The acquisition was valued at Rs 1,300 crore, according to a […]
Udaan gets NCLT nod for biz consolidation ahead of potential IPO, ET LegalWorld
Representative Image B2B e-commerce platform Udaan has received NCLT approval for the consolidation of its various business entities including its technology platform, distribution and logistics services and wholesale trading into one entity – Hiveloop Ecommerce, sources aware of the development told ETRetail. With a unified entity the company is aiming for simplifying its operations, especially […]
NCLT nod for Zepto parent’s merger with Singapore unit, ET LegalWorld
The National Company Law Tribunal (NCLT) has approved the merger of Kiranakart Technologies, which operates quick commerce platform Zepto, with its Singaporean affiliate entity Kiranakart Pte Ltd—a move that will help accelerate its initial public offering (IPO) plans in India this year. Zepto’s domicile flip to India will formally complete within the next 30 days, […]
KredX gets RBI nod to launch TReDS platform, Legal News, ET LegalWorld
Supply chain finance platform KredX on Thursday said it has received the Reserve Bank of India’s (RBI’s) final approval to commercially launch its Trade Receivables Discounting System (TReDS) platform under the brand name DTX (Domestic Trade Exchange). With this approval, KredX became the fifth RBI-regulated TReDS platform in India, marking a pivotal step in its […]
Aakash Institute seeks NCLT nod to amend Articles of Association amid shareholder feud, ET LegalWorld
Aakash Institute, a subsidiary of Think & Learn, the parent company of Byju’s, on Tuesday, requested the National Company Law Tribunal (NCLT) bench to set aside a previous order that had prevented the coaching centre operator from amending its Articles of Association (AoA), citing the need to raise funds. The matter pertains to the institute […]
Choice International gets Sebi in-principle nod for MF operations, ET LegalWorld
Financial services provider Choice International Ltd on Thursday said it has received in-principle approval from markets regulator Sebi to launch mutual fund operations. The development positions Choice International to expand financial services portfolio and cater to a broader spectrum of investors. In accordance with Sebi’s approval, Choice International will set up an asset management company […]
Delhi HC gives nod to SFIO to continue probe against Hero Electric Vehicles, ET LegalWorld
Hero Electric told the HC that this is a “classic case where a pure civil dispute has been given a taint of criminality” to gain an advantage in a pending civil dispute filed by it in the Punjab and Haryana HC. The Delhi High Court on Friday gave nod to the Serious Fraud Investigation Office […]
Blackstone gets CCI nod to acquire stakes in two Bagmane Group entities, ET LegalWorld
The Competition Commission of India (CCI) on Tuesday said it has cleared Blackstone’s arm BREP Asia III India Holding Co VIII’s proposed acquisition of stakes in Bagmane Developers and Bagmane Rio. US-based Blackstone is the world’s largest alternative asset manager, with more than USD 1 trillion in assets under management (AUM). “The proposed combination involves […]
NCLT asks two Tata NBFCs to seek merger nod from stakeholders, ET LegalWorld
The National Company Law Tribunal has asked two non-banking finance companies of the Tata Group – Tata Capital and Tata Motors Finance – to convene meetings of their shareholders and secured and unsecured creditors to seek approval for their proposed merger. The Mumbai bench of the NCLT, comprising judicial member Lakshmi Gurung and technical member […]
RBI gives nod to Canara Bank proposal to divest its stake in life insurance and MF ventures, ET LegalWorld
Canara Bank on Thursday said it has got Reserve Bank’s approval for a proposal to divest the bank’s stake in life insurance and mutual fund ventures. Reserve Bank of India vide its letter dated 5th December 2024 has accorded approval to our bank for divesting its shareholding in Canara Robeco Asset Management Company Ltd and […]