Latest India Business News 3rd May 2019
- Axis RERA Opportunities Fund–I has inked its first deal to invest Rs.60 crore in a township project of Akshaya. The fund had closed its first fund in April with commitments of over ₹400 crores.
- JSW has ventured into paints business with an investment of around Rs.600 crores, which includes debt of Rs.350 crores from Axis Bank.
- Ftcash, a startup lending platform, has raised Rs.50 crores in a Series A round of funding led by Dutch development finance institution and Accion International.
- To settle dues of its JV firm with GIC, DLF has transferred its shopping mall in Noida to its subsidiary for Rs.2950 Crores. DLF has to pay Rs.8700 Crores to DLF Cyber City Developers.
- TDSAT, the telecom tribunal, has granted a partial stay on telecom deptt. demand of Rs.8300 Crores for approval of the merger of Tata Teleservices with Airtel.
- Wipro has sought approval of its shareholders to buy back shares worth Rs.10,500 Crores.
- NCLAT has allowed the banks to declare accounts of IL&FS and its defaulting group companies as NPA.
- Godrej Properties has bought Mumbai’s iconic R.K. Studios, founded by actor Raj Kapoor, for an undisclosed amount. The company will develop the property, spread across 2.2 acres, into a retail project.
– Forensic auditors have informed the Supreme Court that Amrapali Group gave away flats and penthouses as fees to lawyers representing them at various judicial forums, which is in violation of the law.
– The auditors have also told that around Rs.9590 crores can be recovered from Amrapali Group which diverted Rs.3523 Crores of homebuyers money.
- Asia Healthcare Holdings has agreed to buy Nova IVI Fertility. The deal amount has not been disclosed. Nova Fertility is India’s second-largest network of IVF centres with 20 centres across 15 cities.
- Local unit of PepsiCo has agreed to withdraw lawsuits against potato farmers it had sued for infringing its patents.
- Delhi High Court has directed J&Jto pay Rs.25 lakh each to four patients affected by its faulty hip implants against around One crore recommended by the Central Drugs Standard Control Organization.
- Air India has told its employees to take prior written approval before interacting with media, in the absence of which appropriate action will be taken by the Management.
- Sanjay Ubale has joined the Bill & Melinda Gates Foundation as Director. He was recently Head of Infrastructure and Urban Solutions at Tata Sons.