Marking an entry into India, Sanjeev Gupta-led Gupta Family Group (GFG) Alliance, which owns Liberty House, has acquired bankrupt Adhunik Metaliks and Zion Steel for Rs 425 crore, which was under the Insolvency and Bankruptcy Code. It was an all-cash deal. In fact, Liberty House had failed to complete Adhunik's acquisition in its first attempt. It was given a second chance by the National Company Law Appellate Tribunal to take over the bankrupt steel mill.
Sanjeev Bikhchandani-led Info Edge's early-stage venture capital fund for startups Info Edge Ventures, launched in January this year, has secured a commitment of Rs 375 crore from Singapore-headquartered investment firm Temasek.