CATEGORIES

BUYBACK of Shares: Optimal for all?

BUYBACK OF SHARES

Allegation of Fraud in Appointment of IRP as RP Ground for Rejection of Resolution Plan?

An application filed by Amit Sangal, Proprietor of Nitin Plastic (Operational Creditor of Prince MFG Industries Private Limited) under section 60[5] of the Insolvency and Bankruptcy Code, 2016 read with Rule 11 of National Company Law Tribunal Rules, 2016 against Kairav Anil Trivedi, IRP/RP of the Corporate Debtor and Canara Bank Ltd.,

Jindal Power: Streamlining Promoter's Holding

In 2021, Naveen Jindal group's flagship company, Jindal Power & Steel Limited announced divestment of its subsidiary entity engaged in power generation business:

Compulsorily Convertible Debentures cannot be considered as "Financial Debt" to initiate CIRP

Appeal is preferred by IFCI Limited (\"Appellant\") under Section 61 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the 'Code') against the Impugned Order dated 14/03/2023 passed by the National Company Law Tribunal, Hyderabad Bench -||

RAYMOND Group's Restructuring to Re-FOCUS on its Core Businesses

For the last couple of years, it appears Raymond Limited has relentlessly been trying to simplify its structure & create value for shareholders.

Rejection of Scheme of Merger - Objections from Income Tax Authorities

Indiabulls Real Estate Limited (\"Petitioner Company /Transferee Company/IBREL) filed scheme of amalgamation of companies belonging to Embassy groupNAM Estates Private Limited (\"NonPetitioner Company/ Transferor Company 1\") and Embassy One Commercial Property Developments Private Limited (\"Non-Petitioner Company/ Transferor Company 2\") before the Hon'ble National Company Law Tribunal (NCLT) Chandigarh & Bengaluru Bench.

Scheme of Merger Approved - Despite Objections from Regional Director

Medlife Wellness Retail Private Limited (\"Petitioner Company 1/Transferor Company 1) and Metarain Distributors Private Limited (\"Petitioner Company 2/Transferor Company 2) filed scheme of amalgamation with Threpsi Solutions Private Limited (\"Non-Petitioner Company/ Transferee Company\") before the Hon'ble National Company Law Tribunal (NCLT) Bengaluru (Bangalore) Bench.

Aditya Birla Fashion to acquire TCNS: To be a forerunner in fashion industry

India is poised for multi-decadal change in apparel industry.

Crompton's final stage of integration of Butterfly Gandhimathi

\"The acquisition last year was funded mainly by issue of listed commercial papers”

Can Resolution Plan be modified by way of subsequent order of adjudicating authority relating to interconnected matter of Resolution Plan?

SREI Multiple Asset Investment Trust Vision India Fund (Appellant) preferred an appeal against decision of Hon'ble National Company Law Appellate Tribunal (NCLAT) which set-aside order of Hon'ble NCLT (National Company Law Tribunal) Hyderabad Bench which have effect of modification/alteration of approved resolution Plan of the Corporate Debtor Deccan Chronicle Holdings Ltd. (DCHL).

Dalmia Bharat inching its way to become Pure-Play Cement Producer

Dalmia Bharat Limited (\"DBL\") has created a Vision 2031 for capacity creation plan of 110-130 million tons from existing capacity of 40 million tons of cement manufacturing.

NCLT Judgement on Treatment of CCD in case of Company goes under CIRP Process under IBC

Agritrade Power Holding Mauritius Limited (Applicant) filed application with Hon'ble NCLT Mumbai Bench against rejection of its claim by the Respondent/Resolution Professional of SKS Power Generation (Chhattisgarh) Limited (\"Corporate Debtor/SPGCL\") as financial creditor by virtue of Holding Compulsory Convertible Debentures of Corporate Debtor.

Merger of IT Business and Demerger of Automotive Engineering Business: The Saga of KPIT & Birlasoft

Before 2018, KPIT Technologies Limited had deep expertise in auto engineering and mobility solutions as well as a strong presence in business information technology.

Scheme of Merger of WoS with its Holding Company Approved - Despite of Objections from IT Department

Yuflow Engineering Private Limited Petitioner Company 1/Transferor Company) filed scheme of amalgamation with Yuken India Limited Petitioner Company 2 Transferee Company”) before the Hon'ble National Company Law Tribunal NCLT) Bengaluru Bangalore) Bench.

Whether Income Tax Dues are to be considered as Secured Creditor for the Purpose of CIRP Process

Income Tax Department Appellant) preferred an appeal against decision of Hon'ble NCLT National Company Law Tribunal) Guwahati Bench in the matter of Assam Company India Ltd Respondents) vide Company Appeal AT) Insolvency) No. 243 of 2022 before Hon'ble National Company Law Appellate Tribunal NCLAT).

YET ANOTHER RESTRUCTURING TO UNLOCK VALUE OF TAN BUSINESS BY DEEPAK FERTILISERS

\"The merger and demerger transaction should simplify the corporate structure and segregate the Crop Nutrition Business and Technical Ammonium Nitrate Business to focus and grow separately\"

Rejection of Scheme By NCLT: Objection of Regional Director on grounds of non-compliance

Hotel City Plaza Private Ltd [\"Appellant 1\" or Petitioner Company 1 or \"Transferor Company\") Trivandrum Apollo Towers Private Ltd] [ \"Appellant 2\" or Petitioner Company 2 or \"Transferee Company\") have preferred appeal (Company Appeal (AT) (CH) No. 28 of 2021) before Hon'ble NCLAT Chennai Bench against order dated 05.02.2021 in TCAA/4/KOB/2019 & TCAA/5/KOB/2019 passed by Hon'ble NCLT Kochi Bench dismissing scheme of merger on basis of objection raised by Regional Director, Ministry Of Corporate Affairs.

FINANCIAL & LENDING BUSINESS

Career Point: Baby (side business) becomes larger than the primary business

NCLAT Judgement - On Obtaining Consent of Creditors in case of Scheme of Arrangement between Company and its Shareholders.

\"As far as citations of various judgments are concerned, it is not appliable as the health of each company varies\"

COMMITTEE OF CREDITORS

Whether Committee of Creditors consider a new Resolution Plan of a party, who was not a part of the CIRP, after approval of Resolution Plan by Adjudicating Authority

Rossell India to list its demerged Aerospace & Defence Division

\"The overall re-structuring is divided in 2 stages. One to streamline the promoter holding in RIL & second to separate its growing Techsys Business\"

Rational or Madness: Edtech Acquisition Spree

EdTech companies seem to be in spree for expanding their operations through acquisitions. EdTech was one of the biggest beneficiaries of digitalisation and work from home. With the digital revolution coupled with covid-19 crises, EdTech changed its dynamics.

Hercules Hoists decides to demerge its operating business

Apart from its operating business, lot of old Indian listed companies also house investments in the form of equity shares of other group entities. Over the years, these investments reach a sizable size and peculiarly the returns on investment does not commensurate with the returns generated by the operating businesses. To streamline corporate structure & returns, these companies finally evaluating an option to separate these investments from the core businesses.

TATA STEEL

ONE TATA STEEL: Way to India's fully integrated steel and steel products Company

DEMERGER

CES Ltd's demerger scheme benefits whom out of all stakeholders?

Competition Amendment Bill 2022: Overview

The Competition (Amendment) Bill, 2022(Bill) was introduced in Lok Sabha on August 5, 2022. It seeks to amend the Competition Act, 2002(The Act). following are key areas addressed by this Bill:

The Investment Trust of India Limited 'The company constantly looking at value creation through acquisitions and restructuring. Whether this will work this time?

"The growth in revenue's pertains to its trading business and some of the acquired businesses in broking. It also scaled up financing business significantly during last decade. However, despite revenue growth, TITIL is not generating sustainable profits"

SEBI ORDER UNDER SECTION 11 OF SEBI ACT 1992 IN THE CASE OF INDEPENDENT DIRECTOR AND OTHERS FOR INSIDER TRADING IN CASE OF SUPRAJIT ENGINEERING LTD

1. Present proceedings have emanated from show cause notice dated July 06, 2020 (hereinafter referred to as "The SCN") issued by Securities and Exchange Board of India (hereinafter referred to as "SEBI") to the aforesaid Notices for the alleged violations of Section 12A(d) & (e) of Securities and Exchange Board of India Act, 1992 (hereinafter referred to as "SEBI Act, 1992"), provisions of SEBI (Prohibition of Insider Trading) Regulations, 1992. (hereinafter referred to as "PIT Regulations, 1992") (Since repealed) and SEBI (Prohibition of Insider Trading) Regulations, 2015 (hereinafter referred to as "PIT Regulations, 2015").

JSW Ispat - JSW Steel four years of engagement period before marriage: win-win for all stakeholders

The acquisition of JSW by the consortium Steel Limited & AION Investments Private Il Limited of JSW Ispat Special Products Limited (formerly known as Monnet Ispat & Energy Limited) marked foray as one of the first acquisitions through the Corporate Insolvency Resolution Process (CIRP) under the Insolvency & Bankruptcy Code, 2016 (IBC).

Ador Group Merging its Listed Entities in similar business for better governance and growth

Ador Group forayed into welding & cutting products by starting Ador Welding Limited in 1951. Later, in 1974 the group started Ador Fontech Limited to manufacture products relating to life enhancement of industrial component.