Read the latest India business news 10th December 2018:
– WheelsEMI, a lender focused on used two-wheeler financing, has raised funding of Rs.100 crore led by Faering Capital.
– To protest against privatization of six airports, employees of Airports Authority of India are going on a three-day relay hunger strike. They have also warned of going on mass casual leave from 28 December.
– Devendra Chawla, COO, Walmart India has resigned after just 15 months of joining the firm.
– Ananth Narayanan, Myntra CEO has resigned and his position is set to be abolished. Amar Nagaram will now be heading Myntra. Mithun Sundar, chief revenue officer and HR head Manpreet Ratia have also resigned.
– Hindalco Industries has moved Bombay High Court against Maharashtra State Pollution Control Board order asking it to shut down its bauxite mine in Kolhapur for alleged violation of Air Act.
– RIL has reportedly created seven subsidiaries to handle its broadcasting, broadband internet, data and hosting services, wireless, cable services distribution, VOIP, VOD businesses.
– Zomato has entered into the events space and has launched Zomato Events.
– PNB has invited bids for the sale of its 24 NPA accounts to recover Rs.1,179 crore. The names include Vandana Vidyut, Moser Baer Solar, Visa Resources India, Birla Surya, Trident Tools, etc.
– Hero group is close to buying solar power generating assets of Waaree Energies. The deal is said to be around Rs.500-550 crores.
– Startup lobby group is in discussions with the government to allow homegrown entities to list their services on Government’s e-marketplace so that Central and State governments can purchase from them. This will also make the process of stock market listing easier.
– Vijay Mallya case – UK court to decide on extradition of Vijay Mallya today. He had challenged his extradition on “human rights conditions” grounds in Indian jails.
News credit: Livemint, Economic Times, Business Standard