Will back, build and buy out companies in India; focus is on investing in a small cohort of startups and own large stakes in them, says Arjun Sethi, cofounder, Tribe Capital
The National Company Law Appellate Tribunal (NCLAT) has directed the National Highways Authority of India (NHAI) not to terminate the concession agreement of Baleshwar Kharagpur Expressway Ltd, an IL&FS group entity, and take appropriate measures for its insolvency resolution. The tribunal noted that the resolution of BKEL, a SPV set up by IL&FS Transportation Networks Limited (ITNL), is in the final stages, and any termination at this stage would further complicate the process.
Lacavera has raised $51-million for a bid for the Toronto-based financial institution that is subject to extraordinary national-security conditions imposed by the federal Finance Minister.