Bombay HC Allows Future Enterprises To Sell Stake In Insurance JV
A local court in Mumbai, following objections raised by some bold holders of Future companies, had last month put on hold the plan of the cash-starved Future Enterprises to sell 25% of its stake
Topics
Future Enterprises | Future Generali | Future Generali India Insurance
The Bombay High Court has allowed Future Enterprises to sell its stake in insurance joint venture Future Generali to Italian partner Generali, the company said in a regulatory filing on Tuesday.
A local city court in Mumbai, following objections raised by some bold holders of Future companies, had last month put on hold the plan of the cash-starved Future Enterprises to sell 25 per cent of its stake in Future Generali India Insurance Company to Generali for about Rs 1,252 crore.
Future Enterprises filed an appeal with the Bombay High Court, which on Monday set aside the order of the city court, the company said.
"The Appeal along with the Interim Application was listed today (Monday) before ... Bombay High Court. After hearing the Counsels for parties at length, the Bombay High Court was pleased to allow the Appeal and set aside the ex-parte order," Future Enterprise said in its regulatory filing.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
First Published: Tue, March 08 2022. 15:58 IST
Monzo Looks For US Banking License
Monzo is preparing a renewed push to secure a US banking licence, four years after abandoning its first attempt when tal... Read more
Crypto Firms Push Into US Banking
America’s cryptocurrency companies are scrambling to secure a foothold in the country’s traditional banking system, ... Read more
Parallel Banking: Stablecoins Are Now Global
Parallel Banking: How Stablecoins Are Building a New Global Payments SystemStablecoins—digital currencies pegged to tr... Read more
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more