Jet Airways lenders will take the company to NCLT and will seek resolution under the Insolvency and Bankruptcy Code.
HDFC AMC will purchase Essel Group companies’ non-convertible debentures of up to Rs500cr. Thereby transferring any loss (or gain) due to the investment from investors to itself.
As per media reports, Chinese lenders, including China Development Bank, Industrial and Commercial Bank of China and Exim Bank of China, have demanded at least $2.1 bn from RCom that slid into bankruptcy earlier this year.
DHFL makes interest payment worth Rs5cr with the payment due on 17 June.
Biocon approved sale of its branded formulations India business on a 'going concern' basis to Biocon Biologics India for Rs45cr.
Tech Mahindra to buy Canada’s Objectwise Consulting for CAD 2.75 mn (about Rs14.33cr). The all-cash transaction is expected to close by July 31, 2019.