Latest India Business News 28th March 2019

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Latest India Business News 28th March 2019 – Vedanta Ltd announced an oil discovery in its Krishna Godavari basin block in the Bay of Bengal. Vedanta holds 100% participating interest in the block.

NTPC has raised $450 million through a five-year bond offering in the international market.

N.A. Soonawala has stepped down from the trusteeship of Tata Trusts citing health and advancing age. 83-year-old Soonawala has served at various positions in the Tata group, including as the vice-chairman of Tata Sons.

Latest India Business News 28th March 2019

Vijay Mallya case – ED has said that sale of Vijay Mallya’s United Breweries shares fetched Rs.1,008 crores.

Stanza Living, student housing rental startup,  is in talks to raise fresh funding of up to $50 million. It has so far raised around $17 million.

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Healofy, a pregnancy and parenting platform for Indian moms, has raised $8 million in fresh funding from China’s parenting social network BabyTree Group and others. It claims to have over 500,000 daily active users on their mobile app.

Air Canada has chosen IBS Software as its technology partner for its new loyalty programme.

Google and Reliance Mutual Fund have tied up to launch India’s first voice-based mutual fund transaction service.

Tata Group has entered into airports segment and invested Rs.3555 Crores for a 20 percent stake in GMR Airports.

PNB Fraud case:
– Mehul Choksi has said that he was not a partner in any of the firms under scrutiny for the scam and had quit them in 2000.

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– Usha Ananthasubramanian, Former MD & CEO of PNB has challenged the NLCAT order that made her a respondent in the case.

Paytm and Paytm Mall are together out to raise fresh funding of around $2 billion which may take their valuation to around $20 billion.

Sonia Dhawan, former Paytm Executive, one of the prime accused in an extortion bid against Vijay Sharma, Paytm founder, has reportedly rejoined the company.

Bombay High Court has refused to stay the proceedings in a 2016 criminal defamation case filed by Nusli Wadia against Ratan Tata and some other directors of Tata Sons. Wadia had claimed that Ratan Tata and others made defamatory statements against him after they removed Cyrus Mistry as the group chairman.

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