India business news headlines 17th April 2019
Electronica Finance has raised $10 million from responsAbility. Funds will be used for financing equipment in plastic, machine tools, and printing and packaging industries.
Jet Airways is seeking Rs.400 crore in emergency funding to avoid a complete shutdown. A part of the management is in favour of a temporary shutdown until emergency funds are made available. A final decision from the management may come in today.
NBCC is likely to submit a revised bid by 25th April to acquire Jaypee Infratech and complete the housing projects.
RBI has told NCLAT that banks will have to classify the accounts of IL&FS and its group companies as NPAs in view of its master circular and the judgment of Supreme Court.
Doug McMillon, Walmart CEO has said that the firm continues to be committed to the Indian market given the huge opportunity it presents.
Kurl-on has acquired Spring Air, a US-based brand specializing in orthopedic beds, for an undisclosed amount.
Creditors of Gitanjali Gems have voted to end the resolution process citing time over-run and want to liquidate the firm. The firm owes over ₹12,550 crore to 31 financial creditors in the ₹14,000-crore PNB scam.
PNB has appointed Rajesh Kumar Yaduvanshi as the executive director. Yadivanshi, who brings with him 34 years of experience in the banking industry, joined PNB as a management trainee in 1985.
DGCA met airline industry executives to urge them to prevent an increase in ticket prices in view of the shortfall in capacity due to issues being faced by Jet Airways.
As per a report from ANAROCK, a real estate consulting firm, Singapore-based firms invested $1.15 billion into Indian realty sector in 2015 and 2016, and around $3.5 billion in 2017 and 2018.
After government notification, Google has removed TikTok app from its Play store. Users who have already downloaded the app will continue to be able to use it.
Wipro was reportedly hit by an advanced phishing attack affecting some of its employee and customers accounts. The company released a security patch and is conducting an investigation.
RBI has reportedly bid for the iconic Nariman Point building of Air India by offering 10 year’s lease rental as advance payment for the complete building.
Max Life Insurance is in discussions with Axis Bank for a large share sale.
Tata Group has paid Rs.3100 Crores to DoT towards spectrum payment liability in line with their deal to sell their telecom business to Airtel.