Business news India: Latest India business news headlines today 14 February 2023

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Here’s today business news, the latest business news India today 14 February 2023

• Goldman Sachs Asset Management and TVS Capital Funds led a $150-million investment in InsuranceDekho in a Series A round of funding.
• Garuda Aerospace, a Chennai-based drone startup, is reported to have raised $22 million in a Series A round of funding led by SphitiCap.
• ONWO (One World), a Bengaluru-based B2B e-commerce platform, is reported to have raised $1.6 Mn in a seed funding round led by Kae Capital with participation from some other investors.

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Latest business news India today 14 February 2023 – business news headlines today

• Hatica, a SaaS startup, is reported to have raised seed funding of $3.7 million led by Sequoia Capital India’s accelerator program Surge with participation from some other investors.
  
• Supreme Court has reportedly asked SpiceJet Ltd to fulfill its obligation to pay ₹270 crore to its former promoter Kalanithi Maran following an arbitral award of ₹578 crore.
  
• The Ministry of corporate affairs will reportedly remove over 38,000 companies from official records for not meeting the statutory filing obligations. The ministry is said to have removed 71,390 firms so far during this fiscal year.
  
• Nissan and Renault announced plans to invest $600 million in India over the next three to five years to expand their market share in passenger cars and electric vehicles.: Mint
  
• Adani Group has reportedly appointed accountancy firm Grant Thornton for independent audits of some of its companies. This marks the first major effort by Adani Group to defend itself in the wake of a Jan. 24 report by Hindenburg accusing the firm of improper use of offshore tax havens and stock manipulation reports Mint.
  
• Nykaa’s consolidated net profit reportedly plunged over 71% for the quarter ended December 2022 as compared to the same quarter a year ago. The company reported a profit of ₹8.5 crore during the quarter ended December 2022 while ₹29 crore profit was reported in the same quarter the previous fiscal.
  

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Latest business news India today 14 February 2023 – business news India today

• Essar Oil and Gas Exploration and Production reported almost a four-fold increase in its December quarter profit at ₹97 crore against ₹26 crore in the year-ago period.
  
• Steel Authority of India Ltd, a public sector undertaking, reported 65% decline in its net profit at Rs542.18 crore for the third quarter ending 31 December 2022.
  
• Arha Media & Broadcasting, a JV by Allu Aravind (Geetha Arts) and My Home Group, is reportedly planning to invest Rs.1000 crores over the next three years to expand its OTT platform aha launched in Feb.2020.
  
• Sujeet Jain of UltraTech Cement is reported to have joined Nykaa to head its legal and compliance division.
  
• RBI  is said to have cancelled the registration of two NBFCs – Pune-based Kudos Finance and Investments and Mumbai-based Credit Gate – for regulatory lapses in lending practices.
  
• Minority investors of Dish TV have reportedly written to finance minister Nirmala Sitharaman seeking regulatory action against the company for ignoring the investors’ request to call for an EGM.
  
• Cheil India has announced the appointment of Neeraj Bassi as its chief growth officer.

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