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Union government to offload entire stake in Tata Communications

The Union government is offloading its entire stake in Tata Communications. It currently holds a 26.12 per cent stake (7,44,46,885 shares) in Tata Communications, which will fetch almost Rs 9,602 crore based on the closing price of the Tata group firm on Friday. Of this around 16.12 per cent will be sold through an offer for sale (OFS) while the rest will go to Panatone Finvest, an investment arm of Tata Sons. It may be recalled that VSNL was privatised in 2002 by the Atal Bihari Vajpayee-led NDA government when it divested a 25 per cent shareholding along with transfer of management control to Panatone Finvest Ltd, the strategic partner. Subsequent to the strategic divestment, the name of the company was changed to Tata Communications Ltd.

Dadra and nagar haveliWest bengalNew delhiTamil naduPanatone finvestTata commmunicationsTata communications ltdPanatone finvest ltdNational company law tribunalCentre to panatoneTata communicationsHemisphere properties india ltdHemisphere propertiesAtal bihari vajpayee ledTata sonsதாத்ரா மற்றும் நகர் ஹவேலி

JSW Steel to close BPSL deal for Rs 19,350 cr by March 25

JSW Steel to close BPSL deal for Rs 19,350 cr by March 25 In the insolvency and bankruptcy proceedings, JSW Steel had proposed to repay Rs 19,350 crore to the BPSL lenders against their claims of Rs 48,000 crore Nevin John | March 13, 2021 | Updated 23:31 IST Representative Image After one-and-a-half years of waiting since the takeover offer, JSW Steel is looking to close the Rs 19,350 crore acquisition of bankrupt Bhushan Power and Steel Ltd (BPSL) by March 25. According to banking sources, the company is ready with the funds to make payments to the financial creditors of BPSL and it is expected to be completed by March 25.

Supreme courtNational company law tribunalCanara bankSteel ltdBhushan powerEnforcement directorateBankruptcy codeJsw steelBhushan power and steel ltdஉச்ச நீதிமன்றம்தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம்கனரா வங்கிஎஃகு லிமிடெட்பூஷன் பவர்அமலாக்கம் இயக்குநரகம்திவால்நிலை குறியீடு

Minda Industries update on scheme of amalgamation

Minda Industries announced that the company received the certified copy of NCLT sanction order for Scheme of Amalgamation amongst Harita and Harita Venu and Harita Cheema and Harita Financial Services and Harita Seating Systems and Minda Industries on 12 March 2021. The Scheme will be effective from the Appointed Date of 1 April 2019 upon the certified copies of the respective orders of the jurisdictional National Company Law Tribunal, sanctioning the Scheme being filed by all the parties to the Scheme with jurisdictional Registrar of Companies. Powered by Capital Market - Live News (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Harita venuHarita cheemaNational company law tribunalHarita financial servicesMinda industriesRegistrar of companiesHarita seating systemsAppointed dateCapital marketVedic periodTruck amp motorcycle parts necHedge fundsAutomotive accessoriesJurisdictional registrarஹரிதா வேணுஹரிதா சீமா

JSW Steel to close BPSL deal for Rs 19,350 cr by March 25

JSW Steel to close BPSL deal for Rs 19,350 cr by March 25
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Supreme courtNational company law tribunalCanara bankSteel ltdBhushan powerEnforcement directorateBankruptcy codeஉச்ச நீதிமன்றம்தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம்கனரா வங்கிஎஃகு லிமிடெட்பூஷன் பவர்அமலாக்கம் இயக்குநரகம்திவால்நிலை குறியீடு

Bankruptcy court admits insolvency plea against listed beverage firm Manpasand Beverages

Synopsis The company has said in its stock exchange announcement on March 9 that, as per Section 17 of the IBC, the powers of the Board of Directors of the Corporate Debtor stand suspended and such powers shall be-vested with its IRP, Arpan Maheshkumar Shah. Getty Images The dedicated bankruptcy court has admitted the Corporate Insolvency Resolution Process (CIRP) against BSE-listed “It is made clear that all personnel connected with Corporate Debtor (Manpasand Beverages), its promoter or any other person associated with management of the corporate debtor are under a legal obligation under Section 19 of the Code extend every assistance and cooperation to the Interim Resolution Professional,” said the bench in its order of March 1.

Virendra kumar guptaMadan bhalachandra gosaviArpan maheshkumar shahNational company law tribunalCorporate insolvency resolution processInterim resolution professionalCorporate debtorManpasand beveragesArpan maheshkumarManpasand beverages ltdHuhtamaki pplவீரேந்திர குமார் குப்தாஅர்பன் மகேஷ்குமார் ஷாதேசிய நிறுவனம் சட்டம் தீர்ப்பாயம்பெருநிறுவன நொடித்துப்போனது தீர்மானம் ப்ரோஸெஸ்இடைக்கால தீர்மானம் ப்ரொஃபெஶநல்