Indostar informs about credit process lapses and hence need for additional provisions. Fixing of accountability awaited.

In a surprise development, Indostar Capital Finance Limited (ICFL) informed the following – On March 31, 2022, the management had informed Audit Committee of certain control deficiencies observed during the interim statutory audit Observations specifically related to the CV loan portfolio They were in respect of sanctioning of loans to existing customers, loan documentation and … Read more

Reliance gets significant strategic investment into Viacom18

Viacom18 (V18) is amongst the leading players in the Indian television sector with 38 channels in nine languages across various genres including general entertainment, movies, sports, youth, music and kids. Besides, it also has OTT streaming platform Voot. V18 is currently a 51:49 JV between Reliance Industries Limited (RIL) owned TV18 and Paramount Global. RIL … Read more

Bandhan wins the bid to acquire IDFC’s mutual fund business

The bid has been won by the consortium led by Bandhan Financial Holdings Limited (BFHL) and includes GIC and ChrysCapital. Key factual points on the acquisition –  BFHL is the non-operative financial holding company of the Bandhan group. It is the promoter of Bandhan bank and currently owns ~40% stake in the Bank. IDFC mutual … Read more

HDFC Limited decides to merge into HDFC Bank. Key points to note.

After years’ of speculation, HDFC group today finally announced reverse merge of HDFC Limited (HL – the mortgage arm) into HDFC Bank (HB). Listed below are some key factual points for your perusal. Shareholders of HL will receive 42 shares of HB (FV Re. 1/- each) for every 25 shares of HL (FV Rs. 2/-each). … Read more

PVR and Inox decide to join forces. Announce merger.

In a surprise announcement, the two major cinema brands in India have decided to merge together. (It’s important to note here that until recently, it was rumoured that PVR and and Inox are in talks with the Mexican company Cinepolis for a possible merger.) Key points on the PVR-Inox merger It’s a share swap merger … Read more

Zomato to soon start 10 minute food delivery trials

New age companies are not hesitant in trying radical initiatives and Zomato after continuing to struggle in it’s core business has now announced one. The Founder, Deepinder Goyal announced on Twitter about them soon getting into trials of 10 minute food delivery. Key points to note – The initiative is named as Zomato Instant. New … Read more