India business news headlines 27th May
- Air India’s effort to sell prime real estate did not yield much result. The airline is said to have sold less than 10 of the 56 properties put up for sale in April. Since 2012, it has been able to generate only around Rs.450 crores from the sale of properties.
- Tata Sons and Singapore Airlines have infused capital of over Rs.4,000 crores into Vistara over the last 12 months.
- PhonePe is said to be in talks with Tiger Global and Tencent to raise around $1 Billion at a valuation of $8 Billion.
- Flipkart is said to have reached out to the Dept. of Promotion of Industry and Internal Trade and CCI to clarify that it has not violated any norms. GOQii, a smart wearables maker, had sent a legal notice to Flipkart alleging deep-discounting of products.
- L&T has now taken its shareholding in Mindtree to 28%. It continues to buy Mindtree shares from the open market.
- Lenskart is said to be in talks with SoftBank to raise around $350 million at a valuation fo $1.3 Billion.
- Medanta has agreed to sell its business to Manipal Hospitals for Rs.5800 Crores.
- MCA is said to have received a lookout notice for Naresh Goyal around a month back.
- SpiceJet has inducted 100th aircraft to its fleet. SpiceJet is the fourth domestic airline to reach 100 aircraft mark after Air India, Jet Airways (now defunct) and IndiGo.
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- Air Asia India has dropped its plan to lease B737 aircraft of Jet Airways as the airline wants to continue with one type of aircraft.
- FreshToHome, a meat and fish e-comm firm, has raised a funding of $11 million led by CE Ventures. The company claims to receive around 8000 orders per day.
- RBI is likely to give its go-ahead to ED for probing foreign remittances done by BCCI during 2009-15 to the tune of Rs.2000 Crores.
- Inox Cinemas has tied up with International Cricket Council to show select world cup matches live across its major properties.
- After a raid by the Commissioner of Central GST and Customs, Abhishek Singh, MD and Paresh Thakkar, CFO of Manpasand Beverages have been arrested on allegations of GST fraud. The company manufactures fruit juices under the brand names X-Cite, Mango Sip, Siznal, Aprilla, etc. The firm is contesting the allegations.
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