Latest India Business News 23rd August 2019 – Tentaran

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Read Latest India Business News 23rd August 2019:

  • Future Group has said that is acquiring a 49 percent stake in Future Coupons, a group entity. The deal amount has not been disclosed yet.
  • Pawan Munjal shall reportedly make an investment in Ola Electric in his personal capacity.

latest india business news 23rd august

  • NCLAT has given Vikram Bakshi the last chance to settle his dispute with HUDCO, which is claiming dues worth Rs.195 crores. The matter will be listed on 18th September.
  • Tata Sons have launched a new entity, Tata Digital, to incubate new-age digital business. Pratik Pal, a veteran of TCS, has been appointed as the CEO of the new venture.
  • Sidharath Kapur, CEO of the newly created airports division within the Adani Group, has reportedly resigned citing personal reasons. He did not complete even five months with the group.

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

Latest India Business News 23rd August 2019

  • DLF said that they had received a Supreme Court notice in July regarding non-disclosure of material information. The group has, however, denied allegations that it failed to inform investors before rasing around Rs.3200 Crores through QIP in March.
  • Hewlett Packard Enterprise has introduced 26 weeks paid leave for new parents after birth or adoption of a child. The move is in line with the global announcement made by the firm earlier this year.
  • IRCTC has filed for IPO to raise up to Rs.600 crores. The move is part of the government’s plan to take rail entities public.
  • Amazon India has launched Amazon Fresh store, a 2-hour grocery delivery of daily essentials for select places in Bengaluru.
  • The tax department has said that only small startups with a turnover of up to ₹25 crore will get tax holiday on fulfilling certain conditions. Section 80-IAC of the IT Act, 1961 provides a deduction for 100 percent of the income of an eligible start-up for 3 years out of 7 years from the year of its incorporation.
  • Zendrive, a data analytics firm, is said to have raised $37 million in a Series B round of funding led by XL Innovate. Various other investors also participated.
  • Tiger Global has invested $15 million in INDwealth started by  Ashish Kashyap, former CEO of Ibibo. INDwealth is a wealth management firm targeted at HNIs and affluent families.

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

Latest India Business News 23rd August 2019

  • ShareChat had to remove TikTok videos uploaded by its users after TikTok sent notices citing exclusive rights. Facebook and YouTube users have also put TikTok videos but its not clear if they also have received notices to this effect.
  • Due to the non-payment of dues, oil marketing companies have stopped fuel supplies to Air India at six tier-II airports at  Pune, Patna, Cochin, Mohali, Ranchi, and Visakhapatnam. Air India has sought SOS funding of Rs.2500 Crores in debt from the government.
  • IndiGo shall restart daily non-stop flight on Delhi-Singapore route from 12 September.
  • Vistara has launched daily flights from Mumbai to Dubai.

Must Read: Protests against Abrogation of Article 370 

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