Read Latest India Business News 5th August 2019:
- The government is set to frame rules for ride-hailing firms. The new rules will address surge pricing, types of permissible vehicles, liabilities, responsibilities in case of an accident, crime, or any other incident.
- Sebi is scanning InterGlobe Aviation’s shareholders’ agreement to check for any violation of the rights of individual shareholders and minority investors.
- Embassy Group and Blackstone Group are evaluating options to buy the remaining 14 percent stake of the promoters in Indiabulls Real Estate.
- Deloitte has quit as the auditor of Dewan Housing.
- Reliance Industries has entered into an agreement with Shopsense Retail, a software technology firm, to acquire a significant stake for up to Rs.295.25 crores.
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- Hero MotoCorp has plans to deliver bikes and scooters at customer doorstep at a charge of Rs.349 in around 25 cities and has launched the service in Noida, Bengaluru, and Mumbai.
- NCLAT has stayed eviction of Sterling Biotech from its premises as the company was going through liquidation and was under the moratorium period. Sterling Biotech has a total debt of over ₹9,000 crores and its
- Promoters Nitin and Chetankumar Jayantilal Sandesara are reportedly absconding.
- CEO of Britain’s Cairn Energy PLC has said that the firm is keen to reinvest in India if a retrospective tax issue it is facing is resolved.
- Cred is said to be close to finalizing a $125 million Series A round of funding at a valuation of around $450-500 Million. Cred is the second venture of Kunal Shah.
- The US has barred Indian carriers from doing self-ground handling at American airports. The move is believed to be in response to India’s action of not allowing FedEx and other US passenger airlines to do self-handling at Indian airports.
- To promote rural innovators and startups, the National Institute of Rural Dev and Panchayati Raj shall be organizing a two-day event on 27-28 Sept.
- As per a report, the sales of Patanjali have reportedly shrunk in cities and the growth in rural areas has reduced to a third.