In this process, “lenders, as well as shareholders, would anyway have to take a haircut for their respective debt/ and equities,” IL&FS said | File image IL&FS group has approached the NCLAT to seek permission to sell its stake with a “haircut” and without shareholders’ approval in its companies, which are insolvent with unsustainable… Continue reading IL&FS seeks NCLAT nod to sell insolvent companies with haircut, without shareholders’ approval | Company News
Tag: company
Meesho becomes first horizontal e-commerce company to attain profitability
Meesho, backed by SoftBank, has announced it is the first horizontal e-commerce firm in India to reach profitability. The company claimed to have attained profitability at a consolidated profit after tax (PAT) level, encompassing all costs, including employee stock ownership plans (ESOPs), across all its divisions and categories. Having embarked on its journey towards… Continue reading Meesho becomes first horizontal e-commerce company to attain profitability
Paytm founder set to acquire 10.3 per cent stake in the company from Antfin
Vijay Shekhar Sharma, founder and chief executive officer of One 97 Communications, is poised to purchase a 10.3 per cent stake in Paytm from Antfin (Netherlands) Holding BV, as the company notified the exchanges on Monday. According to the company’s regulatory filing, Sharma will acquire the stake in Paytm through his wholly-owned overseas… Continue reading Paytm founder set to acquire 10.3 per cent stake in the company from Antfin
Automation company making robots in India, for the world
At a time when AI and automation have become household names and several labour-intensive industries have turned towards these technologies to increase efficiencies and reduce costs, Addverb, a global robotics and automation company, is further expanding its prowess in the robotics space. The Addverb journey began at… Continue reading Automation company making robots in India, for the world
Stock of this smallcap industrial products company has zoomed 90% in July
Shares of Lloyds Steels Industries hit a record high of Rs 44.74, as they rallied 16 per cent on the BSE in Monday’s intraday trade amid heavy volume. The stock of industrial products company quoted higher for the third straight day, surging 35 per cent during the period. Thus far in the month of July,… Continue reading Stock of this smallcap industrial products company has zoomed 90% in July
Shimla’s ex-Dy Mayor files FIR against NHAI, road building company GR Infra
Environmentalist, social activist and former Deputy Mayor of Shimla Municipal Corporation Tikender Singh Panwar has filed an FIR against the National Highway Authority of India (NHAI) and the four-lane building company GR Infra in Parwanoon Police station of Solan district of the state. A case has been registered for unscientific construction and violating… Continue reading Shimla’s ex-Dy Mayor files FIR against NHAI, road building company GR Infra