Business headlines of the day: Latest India business news today 27 November 2020
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Read the latest India business news today 27 November 2020.
- ED has arrested Peter Kerkar, promoter of Cox and Kings for alleged loan default to many banks and money laundering case pertaining to Yes Bank.
- Faqir Chand Kohli, fondly called the father of India’s IT industry, died on 26/11/20. 96-year-old FC Kohli was the first CEO of TCS.
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- After writing off the entire equity capital of Lakshmi Vilas Bank after its amalgamation with DBS Bank India, RBI has reportedly asked it to write off tier -2 bonds worth around Rs.318 crores from its books.
- Fidelity Investment, the Boston based asset management firm, has reportedly invested an undisclosed amount in Nykaa.
- Pureplay Skin Sciences, selling under Plum and Phy brands, has raised Rs.110 crores in a Series B round of funding led by Faering Capital.
- M&M has announced the sale of Mahindra First Choice Services, its vehicle service business, to TVS Automobile Solutions in a share swap deal. M&M will take a 2.76% stake in TASL and invest approx Rs.35 crores.
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Latest India business news today 27th November 2020 – Business news headlines today
- SpiceJet has started dedicated freighter services to Leh from 26 November.
- Kapil Wadhawan, the promoter of DHFL has moved NCLT, requesting it to reject offers from Adani, Oaktree, and Piramal Enterprises.
- Bombay High Court has rejected a plea by Lakshmi Vilas Bank promoters against its takeover by DBS India, thereby allowing RBI’s rescue plan to proceed as scheduled.
- Ministry of Information and Broadcasting is reportedly preparing to file a petition for transfer of all cases in India against OTT platforms like Amazon Prime Video, Netflix, and Hotstar to the Supreme Court.
- Due to traffic disruption in Delhi NCR because of farmers agitation, Air India has allowed a no-show waiver & one free reschedule to passengers who couldn’t report for their flights on 26/11.
- Supreme Court dismissed a plea by Skoda Auto Volkswagen India challenging an FIR registered by a customer in UP over alleged use of cheat device in its diesel car.
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- Murugappa Group’s Tube Investments will allot shares worth Rs.350 crores on a preferential/ private placement basis to Azim Premji Trust and SBI Mutual Fund. The shares will be allotted on a preferential/ private placement basis to non-promoter entities.
- AstraZeneca India has signed an MOU with the Research Society for Study of Diabetes in India for driving awareness about diabetes.
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