Here are the India Business News Headlines as on 13th July 2017:
- Shriram Group’s potential merger with IDFC Ltd and IDFC Bank could give its investors a possible exit route in future. After completion of merger, investors will have more liquidity.
- Google has taken over Halli Labs, a four-month-old artificial intelligence and machine learning start-up that was looking to build solutions for the Indian masses. They will be joining Google’s team focused on building products designed for the next billion users coming online.
- Reliance Jio, which denied data breach earlier, has now filed a police complaint for data breach. Telephone numbers and email addresses of Jio users were said to be visible on a site called ‘Magicapk’, on 9th July. Magicapk was subsequently taken down.
- Cadila MD, Pankaj Patel has stepped down from his post and his son, Sharvil P Patel, has taken charge as MD. Sharvil was earlier holding the post of JMD.
- Trai will hold an open house in Bengaluru on 25th July to have discussions on net neutrality.
- Bank of Baroda has filed a petition against Binani Cement Ltd with the NCLT to recover its outstanding loan of Rs97 crore.
- HDFC Life Insurance and Max Life Insurance have extended the deadline for merger talks till 31st July and are now working on a new merger structure after IRDA rejected the original proposal.
- Paytm has acquired a majority stake in Insider.in, the ticketing arm of events company OML Entertainment for Rs.35 Crore. They plan to integrate Insider.in into the Paytm app to boost online ticketing service.
- Snapdeal wants Flipkart to pay at least $900 million for buyout deal. Flipkart is yet to respond to Snapdeal’s demand but a new buyout offer is expected to be sent this week.
*News as published in Business Standard, Live Mint and Economic Times.