India business news headlines 15th March 2019
Supreme Court has directed Singh brothers to come up with a plan to secure Rs.3,500 crore award passed by a Singapore arbitration tribunal in favour of Japan’s Daiichi Sankyo. Shivinder says he was not involved in the Daiichi-Ranbaxy deal or the arbitration award.
Brookfield is acquiring East West Pipeline, a loss-making entity of Reliance Industries for Rs.13,000 crores.
The Board of Etihad Airways is reportedly not prepared to meet Jet Airways bailout terms proposed by lenders led by SBI.
Sebi found diversion of Rs.2,315 crore from two Religare firms to Singh brothers and has directed the firms to recover the loans.
Unilever has appointed Nitin Paranjpe as its COO. Paranjpe was currently President – foods & refreshments at Unilever. Sanjiv Mehta, current CMD-HUL has also been elevated as President of Unilever-South Asia.
Naspers Ltd wants to spend around US$1 billion in India this year. It is reportedly in talks with Capital Float and payments security firm Wimbo to inject funds.
Indo Teleports, a subsidiary of Bharti Airtel, has applied to the Telecom Department for the in-flight connectivity licence. Hughes Communications is India’s first company to be granted in-flight and maritime connectivity licence.
Samara Capital is said to be in talks to acquire 3i Infotech at an enterprise value of around $140-150 million. 3i has been undergoing a debt restructuring since 2016.
PNB fraud case – Nirav Modi entered UK on a ‘golden visa’ issued to investors on a commitment to invest 2 Million pounds in UK. He reportedly flew into UK from New York.
After grounding of Boeing 737 planes, average airfares on around 14 ain routes jumped more than 65% as compared to last year.
Bharti Airtel has roped in Telenor’s Malaysian unit former CFO Nakul Sehgal as Corporate Chief Financial Officer. Nakul will look after fundraising and Airtel Africa IPO.
As per an AdReaction report 58 percent ads on air target exclusively women and only 35 percent are targeted towards both genders.