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The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against media mogul Subhash Chandra, the chairman emeritus of Zee Entertainment, following an application submitted by Indiabulls Housing Finance. Chandra had provided a personal guarantee for a loan granted to Essel Group firm Vivek Infracon.
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In a significant development for the telecommunications sector, Vodafone Idea has raised a substantial sum of Rs 18,000 crore through India’s largest follow-on offering (FPO). The issue received overwhelming support from institutional investors, resulting in a subscription rate of nearly seven times the initial offer size.
