India Business News Headlines 6th April 2018

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India business news headlines 6th April 2018

Here are the India Business News Headlines 6th April 2018:


  • Apax Partners has acquired close to 100% stake in Healthium MedTech, formerly Sutures India, from shareholders TPG Growth, CX Partners and the founders. Although the deal amount has not been disclosed, but it is expected to be around $350 million. Healthium makes surgical and wound-closure products and exports to over 91 countries.

  • Star India has retained television broadcast and digital rights for all domestic cricket under BCCI for the next five years at Rs.6,138.1 crore establishing its monopoly over all cricket media rights. It had earlier won rights for IPL for Rs.16,347.50 crore in September 2017.

  • Facebook has confirmed that around 5 lakh accounts of Indian users have been accessed in the data scandal. The government will decide on the action to be taken after receiving a response from Cambridge Analytica. Queries to Cambridge Analytica were sent on 23 March and the response was to be received by 31 March. The company sought a week’s extension of the deadline.

  • Air India disinvestment : IndiGo has said that it will not bid to acquire Air India’s entire airline business as it is interested in only its international operations and Air India Express.

  • The government has moved Calcutta HC over sale of Bengal Chemicals. A single-judge Calcutta HC bench had struck down Bengal Chemicals sale saying that the pharma firm should not have been classified as a low priority public enterprise.

  • Supreme Court has paved the way for sale of RCom assets to Reliance Jio by cancelling a March order of the Bombay HC that had rejected company’s appeal of an order from a arbitration tribunal barring sale or transfer of its assets. It has also rejected plea of Reliance Infratel, a subsidiary of RCom, and SBI challenging an NCLT order which stayed asset sale to Reliance Jio.

  • Ola has partnered with ICICI Lombard and Acko General Insurance to launch in-trip insurance to riders program across over 110 cities. Riders can avail the services by paying Re.1 for intra-city travel, Rs.10 for Ola Rentals and Rs.15 for Ola outstation rides. The program will offer benefits for missed flights, loss of baggage or laptops, accidental medical expense, etc.

  • RBI has mandated all payment system operators to store data within India by September so that it can have unfettered access to all payment data for supervisory purposes.

  • [24], a BPO, has reveled discovering breach in its user payment technology which may have affected its customers like Delta Airlines and Sears.

  • PNB Fraud case : India has sent a request on 23 March to Hong Kong govt for provisional arrest of Nirav Modi.


  • Videocon loan case: CBI questioned Chanda Kochhar’s brother-in-law Rajiv Kochhar of Avista Advisory Group, who was stopped from leaving the country at Mumbai airport as CBI had issued a lookout circular against him.

  • NSEL scam: Mumbai police has attached operational accounts of Financial Technologies of India Ltd in connection with Rs5,574.35 crore fraud at National Spot Exchange in 2013, which is 99.99% owned by FTIL.

  • In the new income tax return forms notified yesterday, individual taxpayers will have to mention details about their salary structure and income from property. It has also become mandatory for small businesses to report their GSTIN and turnover reported under GST. However, just like last year, the one-page ITR-1, or Sahaj, form can be filled by salaried taxpayers having an income up to Rs50 lakh and one house property.

  • RBI has deferred implementation of the Indian accounting standards by one year as many banks are still not prepared to migrate to the new accounting system.


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