India Business News Headlines 20th Feb 2018

Please follow and like us:

Here are the India Business News Headlines 20th Feb 2018:


  • Star India, which holds media rights of IPL, have also won the audio-visual production rights of  BCCI’s domestic circuit for the 2018-19 season. Deal amount has not been disclosed yet.


  • Walmart-Flipkart stake deal may include a proposal to open a retail chain in India. Walmart has been wanting to buy more than 30% stake in Flipkart, but due to objections raised by SoftBank which holds 20.8%, it may end up getting only 20%.


  • Serious Fraud Investigation Office (SFIO), which mainly probes white collar crimes, will be probing the alleged financial irregularities at Fortis Healthcare and Religare Enterprises.

  • CBI has filed a FIR against Vikram Kothari, promoter of Rotomac Pens, for allegedly defaulting on loans worth Rs3,695 crore to seven nationalized banks. Rotomac allegedly cheated a consortium of seven banks by siphoning off bank loans of Rs2,919 crore; after adding interest, the amount comes to Rs3,695 crore.

  • CFO, VP and a board member of Gitanjali Gems have quit their jobs. Geetanjali Gems is embroiled in the Rs.11,400 crore PNB.

  • PNB fraud : The government has ordered Serious Fraud Investigation Office (SFIO) to probe over 50 firms linked to Nirav Modi and Mehul Choksi. SFIO will also check three complaints received in 2015 and 2016, to establish the extent of fraud. These firms are different from the 200 shell firms and benami assets being probed by the income tax department and ED. SFIO is the sixth agency to investigate the PNB scam. RBI, Sebi, ED, Institute of Chartered Accountants of India and Chief Vigilance Commission are already conducting their own investigations.

  • Two senior executives of Myntra – Ambarish Kenghe, CPO and Naresh Krishnaswamy, CRO have quit the firm. The sudden departure has come at a time when Myntra is focusing on profitability and increasing exposure in offline retail.

*News as published in Business Standard, Live Mint and Economic Times.

For more updates, do Subscribe to our newsletter and follow us on FacebookTwitter and Google+

Leave a Reply

Your email address will not be published.

The content and images used on this site are copyright protected and copyrights vests with their respective owners. We make every effort to link back to original content whenever possible. If you own rights to any of the images, and do not wish them to appear here, please contact us and they will be promptly removed. Usage of content and images on this website is intended to promote our works and no endorsement of the artist shall be implied. Read more detailed ​​disclaimer
Copyright © 2022 All rights reserved.
× How can I help you?