Last week, the court had vacated the status quo order it had issued earlier on the merger process between Sun Pharma and Ranbaxy.
Minister of State for Communication Shakeel Ahmad said that the exact modalities for effecting it would take some time because of the complexities involved.
State owned refiner Indian Oil Corporation has proposed merger of its subsidiaries Indian Oil Blending Ltd, IBP Co Ltd, Bongaigaon Refinery and Petrochemicals Ltd and Chennai Petroleum Corp Ltd with itself, Petroleum Minister Mani Shankar Aiyar said
DEA officials to push for this at a meeting with FM Jaitley.
A meeting presided over by Palaniswami said the appointment of Dinakaran as deputy general secretary was against party rules.
The government plans to consider the issue of merger between BSNL and MTNL on the basis of suggestions made by a financial consultant appointed by the centre, chairman and managing director of BSNL A K Sinha said.
Siltap Chemicals Ltd plans a merger with Supreme Industries Ltd.
Matrix Laboratories Ltd and Strides Arcolab Ltd on Saturday said they have called off the proposed merger as the two companies were unable to reach an agreement on valuation.
Categorically ruling out the possibility of a merger with any other party at any point, YSR Congress on Saturday dared the opposition Telugu Desam Party to move a No Confidence Motion in the assembly against the Congress government in Andhra Pradesh. Addressing a press conference, party spokespersons Bajireddy Goverdhan, Vasireddy Padma, and Rehman refuted the "politically-inspired media propaganda" that YSR Congress would merge with the Congress.
The much-talked merger of the two state-owned telecom giants -- Mahanagar Telecom Nigam and Bharat Sanchar Nigam -- is understood to have been put on hold
The merger of ZEE Entertainment and Sony has reached an advanced stage of completion, and the issues faced by promoters with Sebi should not become a problem for the company, debarred ZEEL MD Punit Goenka has said in a letter to employees, according to sources. Goenka, who along with his father Subhas Chandra, was denied any interim relief against a Sebi order that barred them from holding the position of director or key managerial post in any listed company, in the letter ZEE Entertainment Enterprises Ltd (ZEEL) staff asserted that the merger of Culver Max (earlier known as Sony Pictures Networks India) is at a very important juncture. With the Securities Appellate Tribunal (SAT) restricting him from holding a directorial or key managerial position in a listed company, Goenka told the employees that the ZEEL board has constituted an interim committee of senior executives to ensure smooth operations and day-to-day functioning.
The Anglo-Dutch merger was meant to revive the ailing British Steel which had incurred a net loss of 81 million in the year ended March 31, 1999
The government on Thursday said it has not taken any decision so far regarding the merger of telecom public sector undertakings BSNL and MTNL.
Torrent to buy Ranbaxy's anti-bacterial generic
Goldman Sach's chief Lloyd Blankfein had called up his Citigroup counterpart Vikram Pandit to discuss a merger but the proposal was rejected by the India-origin chief executive officer, The Financial Times has reported.
With the Catholic Syrian Bank (CSB) board scheduled to meet on Friday to discuss the proposal of the merger with Federal Bank, the Catholic Church is also gearing up to agitate against the move.
In the first ever indication of a possible merger of two public sector telecom companies, MTNL and BSNL, the government on Thursday said it was appointing advisors for synergising their operations.
We present a few tips which will help investors decide when they are faced with a merger scenario.\n\n
With the Bharatiya Janata Party falling short of a majority in the Lok Sabha and needing the National Democratic Alliance partners to form the government at the Centre, Bihar Chief Minister and Janata Dal-United head Nitish Kumar and Telugu Desam Party's N Chandrababu Naidu have emerged as potential kingmakers.
With Housing Development Finance Corporation's (HDFC's) merger with HDFC Bank becoming effective on July 1, the merged entity is set to become the top weight in the benchmarks S&P BSE Sensex and the National Stock Exchange Nifty indices, dislodging the country's most valuable company, Reliance Industries (RIL), from its perch. HDFC will stop trading after July 13. At present, RIL has a weighting of close to 12 per cent in the Sensex and 10.3 per cent in the broad-based Nifty. Meanwhile, HDFC Bank and HDFC have weights of 9.9 per cent and 6.8 per cent in the Sensex and 8.8 per cent and 6 per cent in the Nifty, respectively.
The government is not averse to mega merger of banks and financial institutions like IDBI and IFCI, if all stipulated norms of the Reserve Bank of India are met, Finance Minister P Chidambaram said on Wednesday.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
'The government has put in a lot of effort to provide infrastructure for the industry.'
Panneerselvam's remark came a day after the two factions were squabbling and blaming each other for the delay in the talks getting off the ground.
Bankers said the outlook of M&As in India in 2024, especially in the second half after the Lok Sabha election, seems relatively better.
Congress and the Telangana Rashtra Samiti on Wednesday gave divergent versions on the issue of merger even after their leaders have held a series of meetings since Parliament gave its nod for creation of Telangana last week.
Even though staff below the officers rank is not participating in the strike, but activity in the country's largest lender and its associate banks will be affected.
With high credit growth and healthy asset quality, listed commercial banks are expected to report steady growth in earnings during the fourth quarter ended March 2024 (Q4 FY24). Profits are expected to grow at 9.6 per cent year-on-year (Y-o-Y) and net interest income (NII) by 8.7 per cent in Q4 FY24, according to Bloomberg analysts' estimates. According to Motilal Oswal Securities, while bank credit growth has been robust, deposit growth has also gathered pace.
Billionaire Mukesh Ambani's Reliance Industries and Tata Group have made it to the prestigious TIME's list of 100 World's Most Influential Companies of 2024. TIME called Reliance 'India's Juggernaut'. This is the second time that Reliance has found its way into the TIME list. Jio Platforms, the firm that holds digital properties of the conglomerate, was included in the inaugural TIME 100 Most Influential Companies List of 2021. Serum Institute is the other Indian company on the list.
Panneerselvam also remained firm on his faction's demand for a probe into late J Jayalalithaa's death.
The National Company Law Tribunal's (NCLT's) declaration that Zee Entertainment is bankrupt adds a new measure of uncertainty to the proposed merger with Sony. Three entities -- Aditya Birla Finance, IndusInd Bank and YES Bank -- have filed appeals in the NCLT for recoveries of Rs 130 crore, Rs 90 crore and Rs 540 crore, respectively. The money was borrowed by a related party - Siti cable - and not returned. Zee was a corporate guarantor.
The government is working on a proposal of a mega merger of country's three leading financial institutions IDBI, IFCI and IIBI.
Anil Ambani has won Lebanon-based M1 Chief Executive Officer Azmi Mikati's approval for a possible merger of Reliance Communications and South Africa's MTN Group following a meeting between the two.
