Cyril Amarchand Mangaldas has advised Piramal Finance on its qualified institutions placement of equity shares aggregating to INR 2,100 crore. Trilegal acted as legal advisor and Linklaters Singapore as international legal counsel on the issue. Piramal Finance allotted 99,62,606 equity shares at an issue price of INR 2,110 per share. The QIP opened on August…
Mumbai: Leading private lender HDFC Bank is mulling an appeal against the bankruptcy court NCLT’s order in the case involving Subhash Chandra, the bank said on Thursday. The bank said only 3.2 per cent of the total claim amount has been admitted under the National Company Law Tribunal (NCLT) order in the matter. HDFC Bank’s…
Mumbai: The Competition Commission of India (CCI) has sought additional information from the parties to the proposed $1.65-billion acquisition of Rajasthan Royals, saying the information submitted was incomplete, and has issued a Request for Information (RFI). The deal involves the acquisition of three cricket franchises-Rajasthan Royals in India, Paarl Royals in South Africa and Barbados…
New Delhi, Appellate insolvency tribunal NCLAT has directed the Mumbai bench of NCLT to decide within 15 days on an application seeking withdrawal of insolvency proceedings against Epic Yarns Pvt Ltd, following a settlement between the company and its operational creditor. A three-member NCLAT bench noted that the entire claim by Epic Yarns’ operational creditor…
New Delhi, Fair trade watchdog CCI on Friday imposed penalties on two entities for bid rigging with respect to a tender floated by the Himachal Pradesh government for procurement of tyres. Rekha Agencies and SS Marketing have been slapped with penalties of Rs 1,29,901 and Rs 2,13,274, respectively, for indulging in anti-competitive conduct in respect…
New Delhi, The Competition Commission of India (CCI) has notified the revised Commitment (Amendment) Regulations, 2026 which extend the filing window for antitrust commitment applications from 45 days to 60 days. The Competition (Amendment) Act, 2023 introduced Sections 48A and 48B of the Act to create a settlement and commitment mechanism that allows companies facing…
Its domestic market share stood at 1.9 per cent in June, sharply below around 15 per cent in 2019. The National Company Law Tribunal (NCLT) on Monday deferred its rulings on eight bankruptcy petitions filed against SpiceJet by aircraft lessors after the airline reached a last-minute settlement with one of the lessors. The tribunal is…
New Delhi: The corporate affairs ministry on Friday invited applications for two members of the Competition Commission of India (CCI). The appointment would bolster the regulator’s decision-making ability, on top of maintaining the quorum needed to clear key antitrust matters, experts said. The move came after one of the CCI members–Anil Kumar Agrawal –resigned in…
New Delhi, Markets regulator Sebi on Wednesday lowered the Z-score limit used for stress testing in the commodity derivatives market to 5 from 10, in a move aimed at easing compliance for market participants. Under the existing framework, price movements corresponding to a Z-score of 10 replace extreme price movements beyond that threshold in peak…
Zameer Nathani, group general counsel at DNEG Artificial intelligence is moving from experimentation to becoming an operating layer for corporate legal functions, with automation increasingly influencing research, contracting, compliance and the role of the general counsel, according to Zameer Nathani, group general counsel, DNEG. Delivering the chairperson address at the ETLegalWorld’s AI-Powered Legal Transformation Summit…
