In a setback to the promoters of Deccan Chronicle Holdings, the Andhra Pradesh High Court on Wednesday refused to stay proceedings initiated by various creditors against the company and its promoters across the country.
“ICICI Bank submitted to the court that the scheme of arrangement should be first approved by the SEBI before seeking the nod of HC,” legal counsel said.
The Official Liquidator representing the government has strongly opposed the merger pending investigations.
What the camp of YS Jagan Mohan Reddy believed was a boon while arguing his case for bail in October last year has now turned out to be a bane.
Celkon Mobiles has launched its ‘Signature HD A119’ mobile handset as it seeks to get a foothold in the fast growing smart phone segment.
AP has already appealed to the centre on the issue earlier and the CEA would not take up the matter to get the necessary approvals for the gas swap.
The financial services group said its representative was not given an opportunity to express views on the resolutions introduced at the AGM.
Homeland Mining and Energy SA Proprietary has divested its stake in two coal assets for $37 million (about Rs 201 crore) to multiple buyers.
The action comes after a FinMin appointed, panel found certain violations by public sector banks in lending to the Hyderabad-based company.
An over-stretched balance sheet forcing GVK to sell 51% stakes in its key Australian energy assets to rail-freight company Aurizon.
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