Latest India Business News 12th September 2019 – Tentaran

Read Latest India Business News 12th September 2019:

  • Chiratae Ventures, formerly IDG Ventures, is set to hit the first close of its fourth India-focused fund at $150 million. The fund has investments in startups like Lenskart, CureFit, Myntra, and Policybazaar.
  • LIC may sell stake in IDBI Federal Life at a cheaper valuation.  As the insurance regulations do not permit LIC to own over 10 percent in another insurer, IDBI Bank has put up its 48% holding in IDBI Federal for sale.

latest india business news 12th september

  • Promoters of Apollo Hospitals are selling a stake of 3.6% through a secondary share sale, worth around Rs.725 crores. The amount will be used to bring down the group’s debt.
  • Strides Pharma Science has acquired a 70% stake in Switzerland-based Fairmed Healthcare AG for 2.2 million Swiss Francs. Fairmed has a portfolio of high‐quality generic products.
  • Schneider Electric is expecting to complete the ₹14,000 crore acquisition of L&T’s electrical and automation business by early 2020.

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Latest India Business News 12th September 2019

  • WPP and InMobi Group have entered into a partnership to co-create products based on unique requirements of brands and advertisers. The brands will gain access to over 200 million mobile users through InMobi Marketing Cloud, and more than 36 million smartphone users in India, through InMobi’s content platform, Glance.
  • Apple is set to take on Netflix, Amazon with Rs.99 per month streaming service in India.  Apple TV+ includes original content from filmmakers and will be available from November 1.
  • Oyo is entering the four-star hotel segment in India and has purchased a 64-suite building in Ahmedabad for an undisclosed amount.
  • CBDT has relaxed a few norms for prosection of income tax defaulters for the delay in depositing TDS, under-reporting of income tax and non-filing of IT return. Defaulters on non-payment of TDS below Rs.25 Lakh for less than 60 days from the due date shall not be processed for prosecution under normal circumstances.
  • Sebi has refused to modify its order directing Religare Enterprises and Religare Finvest to recall loans of over Rs.200 crores diverted to Singh brothers.

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Latest India Business News 12th September 2019

  • ED has attached assets of over Rs.288 crores of Technomac Company, located at Paonta Sahib in HP, and its promoters.
  • IndiGo shall start flight operations between Kolkata and Ho Chi Minh from 18 October.
  • Banks are reluctant to give working capital loans to CG Power due to ongoing investigations in the alleged wrongdoings leading to the removal of Gautam Thapar, Chairman of the firm.
  • JioSaavn has received Rs.140 crores from its parent company Reliance Industries.
  • Stalkbuylove, an online retailer, has reportedly run out of cash and the company is facing a funding crunch. Vendors, customers, and influencers have taken to social media to protest against the founders of the firm for allegedly absconding without completing deliveries and clearing dues.
  • Honda Motorcycle has launched its first BS6-compliant two-wheeler Activa in India at a price range of ₹67,490 to ₹74,490.

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