Latest India Business News 29th March 2019 – Jet Airways has delayed ECB repayment due to liquidity crunch. This is reportedly the fourth time that the airline has defaulted on debt repayment in recent months.
Lenders of Amtek Auto have sought permission from NCLAT for a second round of bidding after the highest bidder UK-based Liberty House backed out.
Infosys will acquire a 75% stake in ABN AMRO Bank’s wholly owned subsidiary, Stater, for €127.5 million. Stater offers end-to-end mortgage administration services in the Netherlands, Belgium and Germany.
Embassy Group is looking out for stressed hotel assets to expand its hospitality business outside Bengaluru. The group plans to enter Mumbai, Pune, Chennai, Hyderabad, Delhi NCR and Goa over the next three years.
The government has decided to infuse Rs.5,042 crore into Bank of Baroda ahead of the merger of Dena Bank and Vijaya Bank with BoB.
ZF, the auto technology major, will acquire Wabco for around $7 billion. Wabco, a global supplier of braking control systems, generated 3.3 billion in revenues in 2018.
As per RBI, WhatsApp is yet to comply with data localization norms of India.
Amrapali group – The auditors have told the Supreme Court that there were illegal diversions of over Rs.3000 Crores of homebuyers’ money.
Fortis case – Economic offense wing has registered an FIR against the promoters of Religare Enterprise – Malvinder and Shivinder Singh, Sunil Godhwani and NK Ghosal for defaulting in repaying a loan of Rs.2397 Crores.
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Google Pay, trying to expand into smaller cities, has partnered with Pine Labs and Innovity to enable over two lakh shops to accept payment through Google Pay app.
South Korea’s Mirae Asset Management along with some other investors have infused $150 million in BigBasket.
The consortium of Jet Airways lenders led by SBI has reportedly reached out to TPG Capital and Delta Airlines to explore possibilities of a stake buyout.
Paytm has said that Sonia Dhawan shall not be rejoining the firm until the conclusion of ongoing judicial proceedings.
Runway repairs at Mumbai’s Chhatrapati Shivaji International Airport will be completed by 30th March.