NCLT Mumbai bench adjourned Siti Networks insolvency hearing to April 3. Rohit Mehra, suspended board of directors, NCLAT intervention, financial and operational creditors claims, including Zee Entertainment Enterprises, were crucial in the process.
According to media reports, Aditya Birla Capital will lower its stake in the fund house to 45 per cent, while Sun Life AMC could trim it down to 30 per cent. While the former currently owns a 49.99 per cent stake, Sun Life (India) AMC Investments has a 36.48 per cent stake
Aditya Birla Finance, the lending subsidiary of the steel to telecom group, will merge with its listed parent Aditya Birla Capital to comply with the Reserve Bank of India s (RBI) scale-based regulations for non-banking finance companies (NBFCs). The merger will result in Aditya Birla Finance s mandatory listing by September 30, 2025.
Indian benchmark equity indices traded higher ahead of U.S. CPI inflation data. BSE Sensex and Nifty50 continued to trade higher. TCS, Infosys, Tech Mahindra, and HCL Tech rose, while ITC, SBI, NTPC, Bajaj Finance, and Bajaj Finserv traded with cuts. Aditya Birla Capital shares rose over 6% after announcing a merger with Aditya Birla Finance.
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