Latest India Business News
SEBI is planning to revise the share buyback regulations with an aim to update references to the new Companies Act, remove inconsistencies and simplify the language.
As per the company released information, one million people in India are “testing” the payment feature on WhatsApp. The company is working with multiple banks and the Government to further expand its feature to more users.
Vijay Mallaya case – ED will soon file a fresh charge sheet against Vijay Mallya and his companies for money laundering and cheating on a consortium of nationalized banks for around Rs 6,027 crore.
PNB fraud update – Nirav Modi has been accused of holding six passports, out of which two were active for a considerable amount of time and one of the other had only his first name with a 40 month UK visa.
Infosys has received environmental clearance for expanding its Pune campus from 4,000 seats to 35,000 seats.
MobiKwik has invested Rs 2crore in Pune based Pivotchain Solutions, a mobile wallet firm. The investment will strengthen MobiKwik’s fintech offerings.
Major Brands India, which retails brands such as Charles and Keith, Aldo, La Senza, New Balance and Bath and Body, is working on its expansion plans to increase its online presence as also go up to 500 stores from the current 180 stores.
Adani Power and JSW Energy have submitted EoIs for bankrupt Monnet Power. SBI, ICICI Bank, IDBI, PNB, and UCO Bank are among the prominent lenders to Monnet Power, which owes Rs 5,892 crore to banks and another Rs 359 crore to operational creditors.
Tea maker Girnar Food has dragged BigBasket to court for infringing its ‘Royal’ trademark. BigBasket is selling several products under the Royal brand, including spices, grains, sugar, honey, etc. Girnar has raised objection only to their selling tea under the Royal brand.
Cashify, an online marketplace for used mobiles and electronics, has brought AiHuiShou, the Chinese e-commerce giant, as a strategic investor and partner. The move is part of company’s plan to go international.
Paytm is all set to offer live television news, cricket, entertainment videos and games through its inbox and has tied up with content providers like UC News, Yupp TV, and Hungama. Till now, Paytm Inbox mainly allowed its users to chat with friends and family.
The Carlyle Group, global equity investors, Advent International, KKR and some other equity investors are separately in discussions to acquire a controlling stake in Manjushree Technopack, the Bengaluru based packing firm. As of now, Kedaara Capital holds around 24% while the rest is held by the promoters. The proposed deal may value the company to around $250-300 million.