Read Latest India Business News headlines 10th January 2019
– As per a report from Preqin, VC exits in 2018 worldwide nearly doubled to $165 billion. There were 1,094 exit deals in 2018 while 2017 saw 1,307 exits worth $87 billion.
– The Rajya Sabha has passed the Constitution amendment Bill to provide 10 percent reservation in jobs and education, including privately run institutes of higher education, to economically backward sections in the general category.
– Supreme Court has rejected a review petition by Dalmia owned Rajputana Properties against its ruling that upheld an order of NCLAT approving UltraTech’s revised ₹7,900 crore bid to buy Binani Cement.
– MCA has issued summons to Directors and officers of Usha Martin based on the complaints of Basant Kumar Jhawar against the company which had sold its steel business to Tata Steel.
– Yes Bank has sent RBI a list of shortlisted candidates for new CEO’s appointment based on the recommendations by leadership advisory firm Korn Ferry. Rana Kapoor and Madhu Kapur were not consulted by the Board.
– Essel Group is said to be in talks to raise $400 million to refinance its debt. The group has been looking to deleverage by selling stakes in various group businesses, including Zee, Essel Propack and Essel Infraprojects.
– WhatsApp has spent around Rs.120 Crores over the last five months on various tv, print and radio campaigns to combat fake news circulation.
– India’s top telecom firms like Jio, Airtel, Idea, and startups like Paytm, ShareChat have advocated lawful interception of messages as they think it is critical for investigation of anti-national and anti-social activities.
– Shreyas Shibulal, son of Infosys co-founder SD Shibulal, has set up a Rs.140 Crore fund dedicated to clean-energy startups. The fund will undertake seed investments.
– Gautam Singhania, the promoter of Raymond, will step down as Chairman from all group companies. He will also dissociate himself from day-to-day operations of the companies so that the companies can run competitively and independently.
– Supreme Court has allowed employees of Aircel to file contempt plea against Bharti Airtel for not returning Rs.453 Crores to the company as directed by the apex court.
– Adani group is set to enter the IT sector with the construction of world’s first fully green, integrated cloud-based data centre parks in and around Visakhapatnam. It will invest around Rs.10,000 Crore in the first phase and will scale up investment to Rs.50,000 Crores over the next ten years.
– Finance minister Arun Jaitley will present an interim budget on 1 February.
– The Board of Bhushan Steel, now Tata Steel BSL Ltd, has approved a proposal to raise around Rs.24,000 crore through an issue of preference shares to Tata Steel.
News credit: Livemint, Economic Times, Business Standard