Latest India Business News 31st July 2019 – Tentaran

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Read Latest India Business News 31st July 2019:

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  • India arm of Sequoia, Sequoia Capital India, is reportedly raising $200 million to add to its existing fund. It last raised $695 Million in Aug 2018. Sequoia has investments in startups like Oyo, Grofers and Byju’s.
  • IndiGo Crisis – Rakesh Gangwal has said that he provided information on RPTs between IndiGo and InterGlobe Enterprises (IGE) to the ‘relevant authorities’.
  • A group of investors including Comcast Corp., the U.S. cable giant, Lupa Systems and Blackstone Group has reportedly made an offer for a stake buy in Zee Entertainment Enterprises. They are planning to pick up around 51 percent stake at a market value of approx. $2.77 billion.

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

Latest India Business News 31st July 2019

  • Jet Airways update – The Committee of creditors will meet on 1 August to discuss issues related to insolvency proceedings of the airline.
  • CBI has registered a case against Rolls Royce for alleged corruption charges and payment of bribes of around Rs.75 Crores to get contracts from HAL, ONGC and GAIL through Aashmore Pvt Ltd.
  • As per the Consumer Protection Bill 2019 passed in LS yesterday, service providers, manufacturers, and celebrity endorsers may face fines and jail terms for making misleading claims in the ads. The bill is yet to become a law.

Must Read: जानिए गुजरात सरकार के मंत्रियों और उनके विभागों के बारे में

Latest India Business News 31st July 2019

  • Anheuser-Busch InBev, the world’s largest brewer, has reportedly been banned from selling its products in the key New Delhi markets for 3 years for allegedly evading local taxes.
  • Pocket Aces, a digital entertainment firm, has raised Rs.100 crores from Sequoia India and others. The funds are planned to be used in content, technology, and talent.
  • In a bid to revive BSNL and MTNL, DoT is working on a proposal to merge the two ailing firms.
  • NCLT has extended the resolution period of Jaypee Infratech by another 90 days and invited fresh bids.
  • Bombay HC has issued notices to former FM P Chidambaram and two others in connection with the case filed by 63 moons technologies demanding Rs.10000 crores in damages.

Must Read: India monthly roundup of Start-up world in June

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