Latest India Business News 9th September 2019 – Tentaran

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Read Latest India Business News 9th September 2019:

  • Drivezy, a vehicle sharing platform, has entered into an agreement with Oyo to station its vehicles at OYO properties across India.
  • Blackstone Group Lp’s property investments in India are set to cross the $6-billion mark in 2019. As of March 2019, the group had committed around $5.4 bn in India.

latest india business news 9th september

  • Patanjali Ayurved shall infuse over ₹3,438 crores as equity and debt in Ruchi Soya to settle creditors dues.
  • ED has filed a criminal case to probe money laundering charges in an alleged corruption case involving Rolls Royce. The firm is said to have paid commission to an agent of over Rs.77 crores during 2007-11 to win contracts from PSUs GAIL, ONCG, and HAL.
  • Suzuki Motor has decided to hold back its planned investments on capacity enhancement due to the continuous slowdown in two-wheeler sales as also an expected hit due to the transition to BS-VI emission norm from BS-IV in April 2020.

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Latest India Business News 9th September 2019

  • MTNL has approached the government with claims of around Rs.800 crores including rent dues, and reimbursement for an old bond issue. DoT is said to be verifying the claims. MTNL has not paid salaries for the last two months.
  • Oil companies have resumed fuel supply to Air India at all six airports where supplies were stopped a few days back due to non-payment of dues.
  • Coffee Day Enterprises has put its Sical Logistics unit for sale to reduce debt. The sale could get the group around Rs.1000-1500 crores.
  • Brookfield Asset Management and Temasek Holdings have joined the race to buy gas pipeline assets of Gail. The government holds 52.68% in Gail.
  • West-Bridge Capital is reportedly in discussions with Vini Cosmetics, maker of Fogg deodorants, to buy a majority stake at a valuation of around Rs.6,500 crores.

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Latest India Business News 9th September 2019

  • Infiniti Retail, Tata Group’s arm owning the Croma stores, is planning to raise around Rs.750 crores from Tata Sons.
  • Zomato laid off 540 employees, 10% of its total strength, at its Gurugram office across its customer, merchant, and delivery partner support teams.
  • Gautam Thapar, who was removed from Chairmanship of CG Power on an alleged financial scam, has sent a legal notice to the firm on his removal and has hired Shardul Amarchand Mangaldas & Co. for the case.
  • The founders of Investopad have launched their maiden fund of $25 Million and shall invest in pre-seed to series A round of funding.

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