DPIIT gives nod to Hinduja Group firm IIHL for acquisition of RCAP, ET LegalWorld
The Department for Promotion of Industry and Internal Trade (DPIIT) has given a go-ahead to Hinduja Group firm IIHL for acquisition of debt-ridden Reliance Capital Ltd (RCAP), sources said. DPIIT approval was required as some of the shareholders of IndusInd International Holdings Ltd (IIHL) are residents of Hong Kong, a special administrative region controlled by […]
Do not relax anti-pollution GRAP-4 curbs without court’s nod: SC, ET LegalWorld
The Supreme Court on Monday questioned the Delhi government over delay in implementation of stricter anti-pollution measures under GRAP-4, and said it will not allow scaling down of the preventive measures without its prior permission. A bench of Justices Abhay S Oka and Augustine George Masih pointed out that there was a delay in implementation […]
Foreign companies need Union govt nod to do surveys in India: Kerala HC, ET LegalWorld
The Kerala High Court has held that if any foreign organisation wants to conduct a survey in India, permission from the central government is necessary. The ruling from the High Court came while disposing of a plea seeking quashing of criminal proceedings against an Indian company for conducting a survey in Thiruvananthapuram in 2010, which […]
OMERS Admin Corp gets CCI’s nod to acquire additional unitholding in Interise Trust, ET LegalWorld
The Competition Commission of India (CCI) has cleared OMERS Administration Corp’s proposal to acquire additional unit-holding in Interise Trust. Fair trade regulator CCI also approved Ontario Inc and OMERS Infrastructure’s holding in Interise Investment Managers Ltd (IIML). “The proposed transaction concerns acquisition by Ontario Inc and OMERS Infrastructure of additional unitholding and shareholding in Interise […]
Unifi Capital gets Sebi’s nod to begin mutual fund operations, ET LegalWorld
Portfolio management firm Unifi Capital on Thursday received the final approval from the Securities and Exchange Board of India (Sebi) to start its mutual fund operations through its unit, Unifi Asset Management Pvt Ltd. The approval from Sebi would allow Unifi Asset Management to leverage its extensive experience in the investment space to offer tailored […]
Sebi gives nod to Inventurus and Manjushree Technopack to float IPOs, ET LegalWorld
Healthcare services provider Inventurus Knowledge Solutions and packaging company Manjushree Technopack have received a go-ahead from the Securities and Exchange Board of India (SEBI) to raise funds through initial public offerings (IPOs). After refiling their IPO papers in August, the companies received regulatory approval between November 4 and 8. Shares of the companies would be […]
NGT pulls up UP authorities for mining nod in turtle sanctuary, ET LegalWorld
The National Green Tribunal (NGT) has castigated three district magistrates of Uttar Pradesh and the member secretary of the state’s pollution control board for granting permission “in a mechanical manner” for mining works in the state’s turtle wildlife sanctuary. Issuance of clearances and grant of permission for such activities in the prohibited areas was not […]
Fortis Healthcare gets CCI nod to acquire additional stake in Agilus Diagnostics for Rs 1,780 cr, ET LegalWorld
The competition watchdog CCI on Tuesday approved Fortis Healthcare’s proposal to acquire an additional 31.52 per cent stake in Agilus Diagnostics. Multi-speciality hospital chain Fortis Healthcare Ltd (FHL) is engaged in providing integrated healthcare delivery services like medicare, healthcare and diagnostics. The diagnostics services business of FHL is being undertaken primarily through Agilus. “Commission approves […]
Bharti Airtel gets CCI nod to increase stake in Indus Tower to over 50 pc, ET LegalWorld
The Competition Commission of India (CCI) on Tuesday cleared Bharti Airtel’s proposal to increase its stake in Indus Towers, following a buyback of shares by the telecom infrastructure company. Indus Towers is a passive telecom infrastructure provider. It deploys, owns, and manages passive telecom infrastructure for various mobile operators. “The Commission approves an increase in […]
Niva Bupa gets SEBI nod for Rs 3,000 crore IPO, Legal News, ET LegalWorld
Niva Bupa Health Insurance on Monday said it has received final approval from the capital markets regulator, the Securities and Exchange Board of India (SEBI), to raise Rs 3,000 crore through an initial public offering (IPO). Private equity (PE) firm True North-led company (erstwhile Max Bupa), had filed its IPO papers with SEBI on June […]