SAIF III Mauritius Company had moved NCLT to prevent the sale of TV9 by its majority stakeholder and venture capitalist Srini Raju and his associates.
The Hyderabad headquartered retailer has acquired on lease around 2 lakh square feet of space in upmarket Bengaluru localities.
GSK Velu, founder of both companies, is looking at aggressively acquiring pathology chains and medical equipment makers in these markets through funds to be mobilised from various channels, including IPOs over the next couple of years.
“We have signed a settlement agreement with SAIF and filed it before the tribunal,” Srini Raju told ET.
SAIF Partners wanted to block the deal wherein Raju and his associates agreed to sell their entire holding in favour of a consortium of two Hyderabad based infrastructure groups for around Rs 460 crore.
They urged the tribunal to order a forensic audit of Prajay Engineers and restrain its management from alienating any assets.
Hyderabad-based startup is making a rocket which can be assembled and launched in a day.
N Chandrababu Naidu says BJP will lose in this elections and Congress and regional parties will come together to form a government.
TRS, TDP & YSR Congress have already initiated parleys with several regional & national parties across India.
The National Company Law Tribunal (NCLT) has ordered corporate insolvency resolution process for IDEB Projects.
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