Latest India Business News 15th October 2019 – Tentaran

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Read Latest India Business News 15th October 2019:

  • Supreme Court has directed Metal Scrap Trade Corporation to auction the attached properties of Amrapali Group to collect funds to help in speedy completion of stalled projects.
  • Abhijit Guhathakurta, the new RP for the Videocon group has asked expressions of interest for 13 group companies currently undergoing the insolvency process.

latest india business news 15th october

  • As per a report by KPMG created in association with India Mobile Congress and Cellular Operators Association of India, 5G may add 0.35-0.5% to India’s GDP.
  • Hindustan Aeronautics Limited has termed the strike by its around 18000 employees as ‘illegal’ and said that the firm was offering the best-revised package.
  • ExxonMobil India LNG has signed an MoU with IndianOil to expand its LNG business initiatives in India. The companies will focus on exploring new models of delivering cost-effective natural gas in the country.

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Latest India Business News 15th October 2019

  • Walmart India is planning to open six more ‘Best Price’ modern wholesale stores in UP. It already has four stores in the state.
  • NCLAT has stopped the transfer of Bhushan Power and Steel to JSW Steel and also stayed ED’s move to attach assets of the Bhushan Steel till investigation into allegations of fraud and money laundering by the former owners is decided.
  • Ratan Tata shall be investing an undisclosed amount in Tork Motors, an electric motorcycle startup. Tork has been looking to raise over Rs.250 crores to fund its operations.
  • Doodhwala, a Bengaluru-based milk delivery startup, has suspended delivery services and handed over operations to its biggest rival Freshtohome. Freshtohome has raised over $30 million till date from multiple investors and operates in 8 cities in India, and the Middle East. Doodhwala had last raised $2.2 million last February from Omnivore Partners.
  • JSW Ventures has appointed Sachin Tagra as a partner to strengthen fundraise. It is planning to mark the first close of its second fund within 2019. Tagra was previously with Network18 Group, heading investments at Capital18.

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Latest India Business News 15th October 2019

  • Paytm is reportedly set to raise $2 billion from a group of existing investors at a pre-money valuation of $15 billion.
  • GuarantCo, a Mauritius based firm, has filed a petition for insolvency against a subsidiary of Dalmia Cement (Bharat), Calcom Cement for alleged non-payment of approx. Rs.100 Crores.
  • Before the end of fy 19-20, Anand Mahindra will step down from his executive role to become a non-executive Chairman. As per the rules of Sebi, the top 500 listed entities shall need to have a non-executive Director Chairperson from April 1, 2020.
  • Yes Bank has sold its entire 6.5 percent stake in Fortis Healthcare for Rs.645 crores through block deals.
  • Moody’s Investors Services, the global rating major, has downgraded the rating of Indiabulls Housing Finance by three notches due to governance-related issues, RBI’s refusal for its merger with Lakshmi Vilas Bank and tough fund-raising situation.
  • JSW Energy has said that a committee of creditors has approved a resolution plan submitted by the company for Ind-Barath Energy. Exact details have not been disclosed.

Must Read: Today News Headlines 15th October 2019

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