Tag: CORPORATE RESTRUCTURING

Persistent Systems restructures after IBM alliance

| Sanjay Kumar

Persistent Systems, a product and outsourcing company, said it is reorganizing its business structure in four divisions. These divisions are ‘digital’, IBM, Services and Accelerite. It will also set up a new Corporate Operations office whose job will be to accelerate the four growth units. It will be headed by Atul Khadilkar. “Unique to Persistent, the […]

Apollo Tyres Africa files for business rescue after financial distress

| Prashant Duggal

Apollo Tyres Ltd subsidiary Apollo Tyres Africa Proprietary Limited has initiated business rescue proceedings, similar to bankruptcy protection proceedings in the US, to deal with financial and operational challenges. The company has voluntary initiated the proceedings and “has appointed a specialist to re-structure its operations and to secure best value for all stakeholders,” the Indian […]