India business news headlines 29th May – Tentaran

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India business news headlines 29th May

  • Piramal Capital and Housing Finance has sold its Rs.2,000-crore loan exposure in Lodha Developers to a Goldman Sachs unit.
  • Walmart has appointed Suresh Kumar, an IIT Madras graduate, and former Google VP, as CTO and chief development officer.
  • Ola Electric has appointed Arun Sarin, former Vodafone CEO as an independent director on its board. Sarin is also invested in Ola.

India business news headlines 29th May

  • Netflix has appointed Monika Shergill to head its international original series division in India. Monika was previously Ex-VP and head-content at Viacom18 Digital Ventures.
  • NCLAT has directed Vikram Bakshi to settle his dispute with Hudco within four weeks. Hudco has claimed dues worth Rs195 crore from Bakshi.
  • Naukri. com has entered into an agreement to acquire 100% ownership of iimjobs. com for a cash consideration of Rs.80.82 Crores.

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  • Ather Energy, an electric scooter manufacturing startup, has received a funding of $51 million from Hero MotoCorp, Sachin Bansal and Innoven Capital. Out of this, Sachin Bansal has invested $32 million while Hero MotoCorp has converted its convertible debt of $19 million.
  • The US Government has removed India from its currency monitoring list of major trading partners stating certain steps are being taken by the Indian Government addressing their concerns.
  • IFC has agreed to invest $35 million in Manappuram Finance. The firm offers gold loans to small enterprises and low-income households.

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  • Yamaha Corporation has announced the opening of a new music instruments factory in Kancheepuram with an investment of Rs.380 Crores.
  • Truecaller has appointed Sandeep Patil, a former Flipkart executive as its India MD.
  • Delhi High Court has sought clarifications from Paytm and RBI on how Paytm is allegedly offering a credit product when it is not allowed to operate as a payments bank.
  • To settle dues, DLF has transferred a 3 acre land worth Rs.330 crore in Gurugram to its JV with Singapore sovereign wealth fund GIC and also is in the process to hand over a Noida shopping mall. As on 31 Dec.2018, DLF owed Rs.8,700 crores to DLF Cyber City Developers.

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  • Buddha Airlines, one of the leading Nepal airlines, has started a flight from Kolkata to Kathmandu.

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