India business news headlines 18th February 2019
Jet Airways is likely to receive fund infusion of around Rs.3,000 crore from Etihad and National Investment and Infrastructure Fund. The stake of Naresh Goyal might reduce to less than half of his existing stake of 51%.
Vodafone Idea in said to be in talks to sell mobile tower stake, other assets for Rs.20,000 crores. It plans to use the funds for lowering its debt, which stood at Rs.1,23,660 crores till Dec.2018.
Goldman Sachs is set to lead the latest funding round of Daily hunt for around $60 million.
The government’s disinvestment proceeds have touched Rs.53,558 crores so far in the current fiscal, as against the full year target of Rs 80,000 crore.
Sebi may probe YES Bank for selective disclosure leading to a stock rise.
Amadeus has filed a case in Delhi high court against Air India over its decision to end their 30-year-old association. Amadeus said that Air India is bound to call bids and could not arbitrarily exclude them from the sale of tickets on domestic flights.
An expert panel has suggested Irdai to set up a core Sandbox Committee to promote digital innovations.
As per a study by Assocham & EY, the Indian packaging industry may reach $72.6 billion by fy 2020.
A parliamentary panel has sought disciplinary action against IT officers for irregular assessment of expenses on freebies given by doctors by drug firms resulting in a loss of Rs.55.10 Crores to the exchequer.
Blackstone is likely to invest around Rs.3200 Crores to help Manipal Group acquire Medanta Hospital for around Rs.6000 Crores.
Ola is in discussions with Carpooling app sRide to pick up a stake of around 26% at a valuation of Rs.100-150 Crores.
Anil Ambani-led Reliance Group has reached a standstill agreement with around 90% of its lenders under which they will not sell any shares pledged by promoters till September. The group will pay to the lenders as per the scheduled due dates.
Cognizant has agreed to pay $25 million to settle a 2016 case under Foreign Corruption Prevention Act with US authorities. L&T is said to have facilitated payment of $3.64 million in bribes to Indian government officials on behalf of Cognizant for securing various permits, for Cognizant’s campuses in Chennai and Pune.
Malvinder Singh has filed a complaint with Delhi Police’s Economic Offences Wing against Gurinder Singh Dhillon, head of Radha Soami Satsang Beas, his spiritual guru for allegedly siphoning off proceeds from the sale of Ranbaxy. He has also accused his brother Shivinder, family members of Dhillon and his former associates Sunil and Sanjay Godhwani.
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