Latest News in Finance and Stock Market 14June2023

Sukesh Bhowal has a rich experience of over 27 years in Business Management, Sales & Distribution, Retail Lending, Mortgage Lending, Real Estate Lending and Retail Banking. Prior to joining MOHFL, he was associated with DCB Bank, where he headed the Mortgages, Micro-Mortgages, Construction Finance and Gold Loans segments and was responsible for starting and scaling up these businesses. He was also associated with HDB Financial Services, Citibank and HSBC. Sukesh has strong academic credentials of Bachelor of Technology from IIT Bombay and a PGDM in Finance & Marketing from IIM Lucknow.

Ansal properties receiving of One Resolution Plan for Fernhill Project, Gurgaon

Ansal Expression of Interest to submit Resolution Plan for Fernhill Project, Gurgaon dated the 14th March, 2023. Initiation of Corporate Insolvency Resolution Process (CIRP) against Ansal Properties and Infrastructure Limited

With reference to the captioned matter, kindly note that Shri Ashwani Kumar Singla, Resolution Professional, has received one Resolution Plan for Fernhil Project, Gurgaon of the Company on the 10th June, 2023 from Consortium (Mr. Sandeep Gupta, Mr. Anoop Kumar Mittal, M/s. Vision Distributors Private Limited and M/s. Aadi Propbuild Private Limited).

IndInfravit Trust Allotment of 1,37,500 Senior, Secured, Listed, and Non- Convertible Debentures

the Investment and Finance Committee of the LTIDPL IndvIT Services Limited, Investment Manager (“IM”) of Indinfravit Trust (the “Trust”), through circular resolution passed on June 14, 2023, approved the allotment of 1,37,500 Senior, Secured, Listed, Rated, Redeemable and Non-Convertible Debentures (“NCDs”) of a face value of Rs. 1,00,000 each aggregating to Rs. 1,375 Crores on Private Placement basis.

Imagicaaworld Entertainment gets ready for next phase of growth

Imagicaaworld Entertainment Limited has, pursuant to the Debt Restructuring and Settlement Agreement (DRSA) between the company executed in June 2022, Malpani Parks Private Limited and Aditya Birla ARC Ltd, received confirmation for writeoff for the unsustainable debt aggregating to Rs 571.76 crores.

The write-off is a part of the debt resolution plan which the company entered with the Malpani Group and the erstwhile lenders in June 2022.

Bajaj Electricals Limited and Bajel Projects Demerged approved by NCLT

Hon’ble National Company Law Tribunal, Mumbai Bench (“NCLT”) approving the Scheme of Arrangement between Bajaj Electricals Limited (“Demerged Company”) and Bajel Projects Limited (“Resulting Company”) and their respective shareholders (“Scheme”)

Regional Director is concerned, the Petitioner Companies submits that the paid-up share capital of the Demerged Company as per the Scheme is INR 22,96,27,658/- as at December 31, 2021 whereas as on date as per MCA master data it is INR 23,01,51,276/-. The increase of INR 5,23,618/- on MCA is on account of filing of relevant e-forms after December 31, 2021 due to: (i) allotment of 19 new equity shares of Rs.2 each to the shareholders of Starlite Lighting Limited (“SLL”) pursuant to the Scheme of Merger by Absorption of SLL with the Demerged Company and their respective shareholders; and (ii) allotment of 2,61,790 new equity shares of Rs.2 each to the employees of the Demerged Company upon their exercise of stock options under the Demerged Company’s employee stock option plans.

Kingfisher and FC Goa’s Partnership Continues: Multi-Year Deal as Associate Sponsor Renewed

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