Latest India Business News 11th July 2019 – Tentaran

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Read Latest India Business News 11th July 2019:

  • As per reports, Tiger Global has examined at least a dozen deals with Indian startups in recent months. Some of the firms it is invested are Locus, Ninjacart, Fyle, and Zenoti.
  • Brookfield Asset Management is planning to buy a majority stake in Suzlon Energy and is working with a financial adviser for the due diligence. Suzlon has outstanding bank loans of more than Rs.11,000 crores.
  • Axis Bank has appointed Citigroup, JPMorgan, and its investment banking arm Axis Capital to help raising around $1.3 billion through a share sale.
  • To monetize assets, IL&FS group has put 2,880-acres of non-contiguous land banks in Kutch, Gujarat for sale.
  • NCLAT has asked Vikram Bakshi to file an affidavit detailing the amount received from the sale of his shares in CPRL as part of his settlement with McDonald’s.
  • As per a KPMG report, 88 percent of Indian CEOs personally lead the tech strategy of their companies. Also, 66 percent of CEOs believe that there is still enough scope to improve their understanding of customers.

latest india business news 11th july

Latest India Business News 11th July 2019

Must Read: India monthly roundup of Start-up world in May, funds, funding and investments

  • PVR Pictures, which has so far been distributing only Hollywood films in India, is now looking at also distributing Hindi and other Indian language films as 90 percent of box office collections in India come from Hindi and regional language films.
  • NCLAT has dismissed a petition by HDFC to initiate insolvency proceedings against RHC Holding, an entity promoted by Malvinder and Shivinder Singh as its an NBFC and does not come under IBC.
  • The government will scrutinize shareholder pact between Rakesh Gangwal and Rahul Bhatia, the founders of InterGlobe Aviation. Sebi will still be looking into the allegations of governance failure.
  • Samsung Venture, the VC arm of Samsung Group, has invested $8.5 million in four startups in India including IndusOS and Silvan Innovation Labs.
  • Oyo has claimed to have become the world’s third largest hotel chain in terms of room count. It now has presence in over 800 cities.

Must Read: Brand journey of Godrej from 1897 till now

Latest India Business News 11th July 2019

  • IFC is said to be in talks to lend $150 million to RBL Bank as debt financing.
  • Rajnish Kumar, SBI Chairman has said that the Essar Steel lenders will soon be moving Supreme Court against NCLAT awarding higher payout to operational creditors and treating them on par with secured lenders.
  • Santosh Gangwar, the Labour Minister has said that the government may introduce two labour bills in Parliament next week. The bills would include code on Occupational Safety, Health and working conditions.
  • TCS Global HR Head, Milind Lakkad, has said that TCS is one of the top job creators in the US with around 40000 jobs.
  • Vijay Mallya case – Vijay Mallya has moved Bombay High Court seeking protection from any adverse action against him and his assets by lower courts and government agencies.
  • Flipkart has started curtailing or stopped altogether buying products directly from companies as the wholesale operations have become tougher after tightening of e-comm rules by the Government.

Must Read: India monthly roundup of M&As and tie-ups in May

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