India business news headlines 8th April 2019
Baring Private Equity Asia has agreed to buy a 30% stake in NIIT Technologies for around Rs.2,627 crores.
Everstone Group has entered into an agreement with Sahyadri Hospitals to acquire a controlling stake. Sahyadri is the largest hospital chain in Maharashtra.
The Daftary family, promoters of Bharat Serums and Vaccines are reportedly in initial talks with Carlyle Group and Advent International and some other PE firms to sell a controlling stake in the firm for around $500 million.
As per an ad released by SBI, the bidding process for stake sale of Jet Airways will start from 8th April. The interested bidders will have to submit their bids by 10th April.
Bisleri International is close to hiring an external CEO, a first in the firm’s history. Michael Page India is working on the mandate and is expected to shortlist someone for the post.
The tax department has given time till 30th April to service providers with a turnover of up to Rs.50 Lakh to opt for the composition scheme and pay GST at a reduced rate of 6%.
Suresh Prabhu, the Civil Aviation Minister, has said that Aviation turbine fuel should be brought under GST to ensure a level playing field for the domestic industry.
DoT has issued inflight and maritime connectivity service provider lience to Indo Teleports Ltd., a subsidiary of Bharti Airtel. BSNL has also been granted the same licence.
CBI carried out searches in various premises of Bhushan Steel in connection with the case of alleged cheating of Rs,2348 crores.
Axis Bank has submitted a plea with NCLT against Valecha TM Toll for defaulting on a loan of around Rs.105 crores. The company was declared NPA in Nov. 2016.
Gaurs Group, the real estate developer, has raised Rs.500 crores from Kotak Mahindra Bank to speed up the construction work of its existing projects.
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