Decision on slots for Jet Airwayslikely within a fortnight
April 05, 2021
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A decision on renewing slots for Jet Airways is likely to be taken within a fortnight, the counsel appearing on behalf of the airline s new owners Murari Lal Jalan and Kalrock Capital informed the NCLT on Monday.
The Mumbai Bench was also informed by the counsels appearing on behalf of the DGCA and MOCA that an amicable solution is likely on the same via a series of meetings. In this regard, the Bench will hear the case next on April 15.
The Bench of Janab Mohammed Ajmal and V. Nallasenapathy was informed that MoCA and DGCA had appointed a nodal officer to address the issue, and that both sides were optimistic of a resolution in coming weeks.
April 01, 2021
Acquisition expected to help ITC ramp up its spices portfolio under Aashirvaad brand Diversified conglomerate ITC Ltd said on Thursday that the scheme of amalgamation of Sunrise Foods has been sanctioned by NCLT, Kolkata Bench.
The scheme of amalgamation is effective April 1.
Two subsidiaries of Sunrise Hobbits International Foods and Sunrise Sheetgrah are now wholly-owned subsidiaries of ITC too.
“.the Scheme of amalgamation of Sunrise Foods Private Limited (Sunrise) with the Company (the Scheme) has been sanctioned by National Company Law Tribunal, Kolkata Bench. Certified copies of the order have been filed today with the Registrar of Companies, West Bengal, both by the Company and Sunrise,” it said in a notification to the bourses.
NCLT approves amalgamation of Sunrise Foods with ITC, says company
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Synopsis
In a notice to the stock exchanges, ITC said the Kolkata bench of NCLT has approved the amalgamation effective April 1, 2021. It also said the two subsidiaries of Sunrise Hobbits International Foods and Sunrise Sheetgrah have become wholly owned subsidiaries of ITC.
Agencies
ITC Ltd on Friday said the National Company Law Tribunal (NCLT) has approved the amalgamation of its recently acquired spice company Sunrise Foods with itself.
In a notice to the stock exchanges, ITC said the Kolkata bench of NCLT has approved the amalgamation effective April 1, 2021. It also said the two subsidiaries of Sunrise Hobbits International Foods and Sunrise Sheetgrah have become wholly owned subsidiaries of ITC.
Reliance to extend long stop for Future Group deal to September 2021
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Synopsis Pursuant to the provisions of scheme and other transaction documents executed in relation thereto, RRVL has in exercise of the right provided thereunder, extended the timeline for Long Stop Date from March 31, 2021 to September 30, 2021, said Future Retail in a statement.
Agencies
Reliance Retail Ventures Ltd, a unit of Reliance Industries, agreed to buy the retail assets of Future Group on a slump sale basis for about Rs 25,000 crore, it was announced in August with a long stop of 31 March this year.
Reliance Retail Ventures has agreed to extend the timeline for long stop for Future Group deal by another six months, after the deal completion was delayed due to a court battle with Amazon. Long stop is when parties agree on a timeframe in which all the deal conditions are met and the transaction is completed.
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Mumbai: Piramal Capital & Housing Finance is raising up to Rs 3,000 crore through an issue of bonds offering interest at 9.25% per annum. The issue comes at a time when the company has proposed to merge troubled home loan provider
The bonds are rated AA by CARE and come with the assurance that, should the rating fall by even one notch to AA-, the coupon rate would stand increased by 0.50%. For every notch of rating downgrade thereafter, the coupon would be increased by 0.50% per notch. If the long-term credit rating of the non-convertible debentures is downgraded to A- or below, the holders would reserve the right to recall the outstanding principal amount.