Author: Legal Parivar

NEET PG 2024 Admit Card Release: The National Board of Examinations in Medical Sciences (NBEMS) will unveil the admit cards for the National Eligibility cum Entrance Test for Postgraduate Exams (NEET-PG) 2024 on Tuesday, June 18, 2024, at natboard.edu.in. Aspirants who have registered for the NEET PG 2024 exam can access their hall tickets from the official website natboard.edu.in after NBEMS makes them available. It’s important to note that admit cards for NEET PG 2024 will not be dispatched to individual candidates via mail or post. Candidates must download the hall ticket from the official website, nbe.edu.in. They will receive…

Blinkit, the rapid delivery subsidiary of Zomato, is slated to receive a fresh injection of ₹300 crore in capital from its parent company, according to regulatory filings accessed through Tofler, as reported by Moneycontrol. This latest capital infusion highlights Zomato’s continued investment in Blinkit, totaling ₹2,300 crore since its acquisition in August 2022. The ongoing financial support underscores the significance of the quick commerce sector in India and Zomato’s dedication to maintaining its competitive position. The funding comes amid Zomato’s shares trading positively on the stock market, reflecting investor confidence. Blinkit’s evolution into a key player in the quick commerce…

India’s largest lender, State Bank of India (SBI), announced on June 11 its board’s approval of a plan to raise up to $3 billion through debt in the current financial year, according to an exchange filing. The state-owned financial institution aims to secure the funds in multiple tranches through either a public offering or private placement of senior unsecured notes. These notes will be denominated in US dollars or other major foreign currencies, as stated by the bank. The filing stated, “The Executive Committee of the Central Board at its meeting held today, i.e., 11th June 2024, has approved, inter…

GP Eco Solutions India, a leading provider of integrated solar energy solutions based in Noida, is set to launch its initial public offering (IPO) on June 14, with subscription closing on June 19. The IPO, priced between ₹90 to ₹94 per share, will include a fresh issue of 3,276,000 equity shares. Let’s explore the details of the offering and the company’s operations: 1. Offering Details: 2. Subscription Breakdown: 3. Company Operations: Conclusion: With its IPO, GP Eco Solutions aims to capitalize on the growing demand for solar energy solutions and expand its operations. The offering presents an opportunity for investors…

The board of directors of Share India Ltd. has announced the record date to determine the eligible shareholders for the stock split benefit, setting it for June 27, 2024. The company has declared a stock split in a ratio of 1:5. Share India informed the Indian stock market’s bourses about the stock split record date, stating, “We are pleased to inform you that the Company has fixed the Record Date for the sub-division of equity shares.” The stock split record date has been finalized for June 27, 2024. Additionally, Share India clarified the purpose of setting the stock split record…

The Sikkim government has sanctioned a four percent increase in dearness allowance (DA) for its employees and pensioners, effective from July 1, 2023, officials revealed on June 11, according to PTI. This decision was reached during the inaugural cabinet meeting of the second Sikkim Krantikari Morcha government on June 10, led by Chief Minister Prem Singh Tamang. With this rise, the dearness allowance for government employees and pensioners now stands at 46 percent. The increment in DA is expected to have a ₹174.6 crore impact on the state exchequer in the current fiscal year. Additionally, the cabinet meeting witnessed other…

A jewellery shop owner in Jaipur allegedly defrauded a US national by selling her fake jewellery valued at ₹300 for an exorbitant amount of ₹6 crore, as reported by Business Standard. The incident came to light after the US embassy intervened, prompting the local police to launch an inquiry. The victim, a US resident, purchased the jewellery from a shop in Johri Bazaar, Jaipur, a few months ago. The shop owner, Rajendra Soni, and his son, Gaurav, provided her with a certificate of authenticity, which later turned out to be counterfeit. Upon showcasing the jewellery at an exhibition in the…

A slump sale is a method of transferring an entire business undertaking or a part thereof from one entity to another. In a slump sale, the transfer is made on a going concern basis, meaning all assets and liabilities of the business unit being transferred are sold together as a whole package. Here’s a more detailed explanation: Overall, a slump sale provides a structured mechanism for the transfer of a business or business segment, offering advantages for both the seller and the buyer, provided the transaction is carefully planned and executed in compliance with legal and regulatory requirements. In India,…

Both spin-off and split-off are corporate restructuring strategies used by companies to separate a business unit or division from the parent company. While they share similarities, they also have distinct characteristics. Let’s compare spin-off and split-off: Spin-off: Split-off: Comparison: In summary, while spin-off and split-off are both methods of separating business units from their parent companies, they differ in their implementation and shareholder options. Both strategies can be effective tools for corporate restructuring, depending on the specific goals and circumstances of the parent company.

Demergers have become increasingly prevalent in India’s corporate sector as companies strategically restructure their businesses to unlock value, streamline operations, and focus on core competencies. These complex transactions involve the separation of business units or subsidiaries from the parent company, often leading to the creation of independent entities. Let’s delve into the intricacies of demergers, their rationale, and their impact on stakeholders: 1. Rationale for Demergers Strategic Focus: Operational Efficiency: 2. Types of Demergers: Vertical Demergers: Horizontal Demergers: 3. Impact on Stakeholders: Shareholders: Employees: Regulatory and Legal Considerations: Examples of Demergers in India: Conclusion: Demergers represent strategic maneuvers by companies…