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Reliance Games looks to sell 26% stake to international gaming firms

14 Dec 2014

Reliance Games, the mobile gaming division of the Anil Dhirubhai Ambani-owned Reliance Entertainment Group, is looking to sell at least a 26% stake to international gaming companies to raise capital and expand its offerings, according to two people directly familiar with the development.

Companies tweaking staff contracts to manage whistle-blowers

11 Dec 2014

In this April, the Securities and Exchange Board of India asked listed companies to form a mechanism through which employees and directors can complaint about frauds, corruption, company’s code of conducts or ethical codes. But the new clauses being introduced by some companies may allow them to manage any whistle blowing.

‘Corporate governance better, women representation still abysmal’

09 Dec 2014

The representation of women on boards of top Indian companies continues to remain low even as corporate governance practices across top 150 companies have seen an improvement, says a recent report by Grant Thornton.

Governance practices improving in India Inc: Grant Thornton

08 Dec 2014

Corporate governance practices across the top 150 companies in the country have improved, but the female representation on board of companies is still skewed, says a report by Grant Thornton.

Domestic i-banks increase focus on e-commerce

08 Dec 2014

Local investment banks (i-banks) are setting up dedicated teams to pitch for assignments from the country’s e-commerce companies in a bid to capture a slice of the frenzied deal activity in the booming industry where companies such as Flipkart and Snapdeal are raising billions of dollars in new funds.

Power play: Private players plug into the M&A route to scale up

08 Dec 2014

The Adani Group, after acquiring the Lanco Infratech’s 1200 MW Udipi power plant for about ` 6000 crore in August, went on to acquire Avantha Power’s 600 MW Korba West project in Chhattisgarh for `4200 crore in November. This makes Adani the top private sector player with a total installed capacity of 11040 MW.

Making the company law work

07 Dec 2014

The government has made 45-odd changes in the Companies Act of 2013, through circulars, notifications or orders, ever since the provisions of the new company law came into effect on April 1 this year. Last week, the Union Cabinet cleared another 14 changes in the Act, paving the way for tabling amendments in the ongoing session of Parliament.

Govt guidelines to clarify ‘arm’s length’, ‘ordinary course of business’ definitions

05 Dec 2014

“After understanding the significance of these two terms for our industry, we have decided to bring fresh guidelines,” said a senior government official who did not wish to be named. “We will try to bring those as soon as possible.” In the new Companies Act, the terms “arm’s length basis” or “arm’s length’s transaction” are introduced only in connection with “related-party transactions”.

Ascent Capital-backed hospital acquires Al Shifa

24 Nov 2014

Kerala Institute of Medical Sciences (KIMS), backed by Bengaluru-based private equity fund Ascent Capital and Orbimed, has acquired a majority stake in Al Shifa Hospital for an enterprise value of Rs 300 crore, making this amongst the largest health care acquisitions in Kerala.

M&A deal tally at $29 bn till Oct, up 23%

23 Nov 2014

A rebound in investor sentiment has pushed up M&A activity in India this year to USD 29 billion, up 22.58 per cent, says a Grant Thornton report.