M&A Magazine

Caravan Talkies , which is owned by UFO Movies through its subsidiary is taking both Bollywood and regional films to the hinterlands of the country where there is no proper cinema hall. The company is also helping brands to promote their products through their screens in rural areas. UFO Moviez India Limited (UFO) is a listed company and engaged in the business of digital cinema distribution and in-cinema advertising. It wants to a leader in big screen entertainment and entered into a merger transaction with Qube in 2017 which was blocked by NCLT in January 2019 and the decision is contested by UFO currently . Valuable Digital Screens Private Limited (VDSPL) is engaged in the advertising business carried out through Caravan Talkies i.e. Caravan Talkies advertising business which contributes the major revenue for the company and exhibition business through Nova Cinemaz & Club Cinema. Caravan Talkies; is a movie-on-wheels concept, wherein sundown non-ticketed shows (co...

A consortium of 26 bankers led by State Bank of India (SBI) have finally decided to take the grounded Jet Airways to bankruptcy court after failing to revive the company and find buyers. Insolvency proceedings have been initiated against debt-ridden Jet Airways, which stopped flying on April 17. Before the bank consortium filed the bankruptcy proceedings for Jet Airways, two operational creditors – Shaman Wheels and Gaggar Enterprises – had already taken the airlines to National Company Law Tribunal ( NCLT ) as the airline owes Rs 8.74 crore and Rs 53 lakh to the two companies, respectively. After the airline stopped flying, most of its domestic and international slots have been given away to other airlines by the government. Jet Airways will be the first airlines company in the country to go into bankruptcy, as it owes over Rs 8,000 crore to banks and thousands of crores to vendors, lessors and employees. Jet Airways was started by airline-ticketing-agent-turned-entrepreneur N...

In a long-standing battle between Western Maharashtra Development Corporation Limited (WMDCL), a Government of Maharashtra undertaking, and Bajaj Holding & Investment Limited ( BHIL ) overpricing of equity shares of Maharashtra Scooters Limited ( MSL ) has finally settled, and on June 17, 2019 MSL has become a subsidiary of BHIL. Upon the acquisition of 27% stake of MSL from WMDC, BHIL’s holding has increased to 51% in MSL. In 1975, Maharashtra Scooters Limited was incorporated jointly by Bajaj Auto Limited (BAL) now Bajaj Holding and Investments Ltd post demerger in 2007 and Western Maharashtra Development Corporation Limited to manufacture geared scooters.  With a gradual shift in consumer preferences from geared scooters to motorcycle, the company discontinued production of geared scooters in 2006. Currently, the company is engaged in two businesses --  manufacturing of die casting dies, fixtures and die casting components, primarily meant for the automobiles in...