Indian auto parts maker Samvardhana Motherson International (SMIL)said on Monday that it made a second acquisition this month, buying Germany's Dr. Schneider Group for 118.3 million euros ($131.6 million), Reuters reported. Dr. Schneider Group, a unit of Dr. Schneider Holding, manufactures interior components for vehicles such as panels and lighting. The German company had filed for insolvency in September 2022 due to "a failed operational and financial restructuring", Samvardhana Motherson said in a statement, referring to the acquisition, which was done through an insolvency process.
IDBI Bank on Thursday moved the National Company Law Appellate Tribunal (NCLAT) challenging a National Company Law Tribunal (NCLT) order of 19 May, which had rejected the bank's plea to initiate insolvency proceedings against Zee Entertainment Enterprises, said a counsel aware of the matter, Live Mint reported. The insolvency application was filed before the dedicated bankruptcy tribunal to recover dues of ₹149.60 crore from Zee Entertainment. The case has been filed with the court registrar, but is yet to be listed for hearing.