Latest India Business News 12th June 2019
- Manipal Hospitals and TPG Capital are set to announce the acquisition of Medanta chain of hospitals in the next week. The deal has reportedly been finalized at an enterprise value of Rs.5,800-6,000 crore.
- Pilots union of Jet Airways has decided to file a plea against the airline with NCLT for non-payment of salaries and non-provision of gratuity payment.
- WhatsApp will reportedly start taking action against companies and individuals sending out bulk messages in violation of its service terms. Entities engaged in or assisting others for sending automated or bulk messages would face legal action from Dec.7 onwards.
- The Finance ministry will be rolling out a new monthly GST return filing system in October this year.
- Blackstone has bought a 97.7 percent stake in Aadhar Housing Finance for Rs.2,200 crores. The acquisition will see Wadhawan Global Capital and Dewan Housing Finance exiting the firm.
- IL&FS – Investigation has shown that the then CEO of IFIN helped a senior director of a leading rating agency buy a duplex villa worth crores at a discount at the time of an important circuitous transaction with a defaulter borrower in 2012-13.
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- Adani Green Energy promoters will sell a stake of 5.98 percent, worth Rs.400 crores, via OFS to bring down promoter shareholding to meet Sebi norms.
- As per EY’s Private Equity Monthly Deal Tracker, the dollar value of PE and VC deals fell 54% to $2.8 billion in May compared to the corresponding month in 2018.
- Rapido Bikes, a mobile app for booking two-wheeler taxis, is in the final stages of raising $50 million in a funding round led by WestBridge Capital.
- Brookfield Asset Management and Reliance Industries are expected to finalize the proposed sale of Jio’s telecom towers over the next 7-10 days.
- Just a day after the resignation of Ajai Kumar, a non-executive director, another non-executive independent director, Mukesh Sabharwal, has stepped down from the board of Yes Bank.
- Trai has asked Tata Teleservices to refund unspent balance of its pre-paid mobile subscribers and also security deposit of its postpaid subscribers after the firm shut down services in 16 circles.
- PNB Scam – A UK court will deliver a verdict on Nirav Modi bail this afternoon.
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