Business News Headlines: Latest India Business News Today 20th November 2020

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Read the latest India business news today 20th November 2020.

  • Reliance Retail has completed the current phase of partner induction and fundraise of Rs.47,265 crores for a 10.9% stake.
  • Sebi has filed a petition with the SC to ask Subrata Roy and two of his companies to deposit INR 626 billion ($8.4 billion) that it said was due to its investors.

latest india business news today 20th november 2020

  • Future Retail advocate Harish Salve, while arguing before the Delhi HC submitted that Amazon is misrepresenting its legal rights and should not be allowed to wreck its business transaction with Reliance’s retail arm. He said that Amazon is behaving like East India company and trying to destroy competition in the market.
  • Microsoft has partnered with Social Alpha and launched a program for health-tech startups to help them scale.
  • A consortium led by Oaktree Capital, including PE firms like Varde Partners, has reportedly proposed to invest up to $2.5 billion through hybrid debt papers into Vodafone Idea.
  • The construction arm of L&T has won a ‘mega’ contract worth over Rs.7,000 crores from National High-Speed Rail Corp. for bullet train project construction on 87.57 km long stretch of Mumbai-Ahmedabad.

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Latest India Business News Today 20th November 2020 – Business news headlines today

  •  As per a regulatory filing, the merger of Bharti Infratel and Indus Towers has been completed. Vodafone Idea has received Rs.3,760.1 crore for its 11.15% holding in Indus.
  • Supreme Court has adjourned the hearing on the loan moratorium case until next week.
  • MEA has said that Vijay Mallya can be extradited to India after a “confidential legal issue” is taken care of in the UK.
  • Apollo Hospitals have partnered with Tata Medical and Diagnostics for offering Covid-19 testing in all parts of the country.
  • Flipkart is reportedly in talks with Kontoor Brands for the rights of Lee and Wrangler brands in India. It has already bought a minority stake in Flying Machine brand owner Arvind Youth Brands.
  • Google is entering into airport retail through a tie-up with startup Airbuy’s Spot platform. With this app, passengers can order from F&B outlets and book lounges at select airports.

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Latest India Business News Today 20th November 2020 – Business news headlines today

  •  As per a survey conducted by 360 EDGE on lead acquisition in real estate, 52.8% of the respondents said that they will be actively using online portals, 43.7% of the brokers suggested using online ads and 25.4% said will be using webinars.
  • NCLT appointed RP for Jet Airways, Ashish Chhawchharia, has said that neither the airline nor its new owners have appointed any agencies to issue an offer of employment in the airline.
  • Uber has announced to launch 500 e-rickshaws on its platform in Greater Kolkata.
  • Acting on the order of a Calcutta High Court, Harsh Vardhan Lodha has reportedly been removed from the boards of five M P Birla group investment companies.
  • Kitchens Centre, a shared kitchen start-up, has raised an undisclosed sum in a Pre-Series A round from Village Global, a US-based early-stage VC firm backed by entrepreneurs, like Mark Zuckerberg, Bill Gates, Jeff Bezos, Eric Schmidt, and Bob Iger. The firm had raised $500,000 in a seed round in April from AngelList India.
  • Fidelity Investments, the US-based financial services firm, is said to have renewed its lease for 300,00 sq. ft office space for its India headquarters at double the current rental.

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