Latest India Business News 30th August 2019 – Tentaran

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Read Latest India Business News 30th August 2019:

  • Icra Ltd has ousted its MD & CEO Naresh Takkar, three months after Sebi received a complaint alleging misconduct under Takkar.
  • Reliance Jio has moved RoC against three entities using the name ‘Jio’. The firms have been asked to change their names within six months to avoid the initiation of prosecution proceedings.

latest india business news 30th august

  • Lightstone Aspada is planning to raise next fund of around $250 Million to increase investment size from $2-8 mn to $4-40 mn per company. Aspada has invested around $100 million in 20 companies over last six years.
  • Zomato and Swiggy have agreed to eight issues faced by restaurants including partially bearing the cost of discounts.
  • Aviation minister Hardeep S Puri has said that the government will stick to the privatization plan of Air India.

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Latest India Business News 30th August 2019

  • TCS, Wipro, Infosys, and Microland are said to be front-runners for an outsourcing contract of Mercedes-Benz of around $50 Million. The contract is for developing infrastructure applications, managing platforms and moving a few applications to the cloud among others.
  • SoftBank Vision Fund, Naspers and Tiger Global are said to be in discussions with Dream11 to pick up a stake for around $500 Million.
  • RBI shall be issuing governance norms for the private sector and foreign banks with regard to compensation of CEOs, whole-time Directors, and control function staff.
  • Union Minister Pratap Chandra Sarangi has said that in future banks might be made answerable for refusing loans to eligible MSME players.
  • Digital Media industry players have said that the FDI restriction fo 26 percent in Digital Media needs more clarification from the government as it is not clear as to which firms are falling in 26 percent criteria.

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Latest India Business News 30th August 2019

  • NCLT has ordered the start of insolvency proceedings against Three C Projects, a realty firm and has appointed IRP to take over the management of the firm.
  • As per a survey by Hurun Research Institute, real estate and gold are the most preferred investments of HNIs.
  • Burger King USA is not looking to increase its stake in Burger King India from 12 percent it currently holds. Everstone Capital holding 87.5 percent in Burger King India was looking to divest its stake.
  • The government has asked e-comm players like Amazon and Walmart to put up statutory auditors’ reports on their website certifying that they are complying with FDI rules.

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