Page-3 of Finance

ArcelorMittal’s takeover of Essar cleared by apex court

On 15 Nov, the three judge bench of the Supreme Court has accepted world’s largest steelmaker, Arcelor Mittal’s offer to pay an aggregate Rs 42,000 crore as an upfront amount to the secured financial creditors of bankrupt Essar Steel.  This ..

MCA notifies Insolvency and Bankruptcy Rules, 2019

On 15 Nov, the Ministry of Corporate Affairs (MCA) has notified the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 (Rules).  The rules will provide a framework for insolvency and ..

CCI nod for merger of BOB and BNPP

On 14 Nov, the Competition Commission of India (CCI) has approved the merger of the BNP Paribas (BNPP) Mutual Fund and the Baroda (BOB) Mutual Fund, under the Competition Act, 2002. The parties propose to amalgamation includes BOB BOB Asset ..

SEBI’s norm for issuers of municipal bonds

On 12 Nov, the Securities and Exchange Board of India (Sebi) prescribed wider disclosures and compliances norms by the issuers of listed municipal bonds. As per the SEBI norms, listed entities should submit half-yearly unaudited financial results to the stock ..

Don Valentine, founder of Sequoia Capital passes away

Don Valentine (87), an American venture capitalist who founded Sequoia Capital, has passed away in Woodside, Calif. Valentine spent nearly 40 years working in Silicon Valley, and Sequoia Capital is widely credited with cementing California’s Bay Area as the tech ..

Indian Overseas Bank launches an healthcare insurance policy in collaboration with Universal Sompo General Insurance Company Ltd

Public sector Indian Overseas Bank unveiled a healthcare insurance policy through online platform in association with Universal Sompo General Insurance Company Ltd. The policy offered on real time basis to customers at the branches of Indian Overseas Bank through integration ..