Here are the India Business News Headlines as on 19th July 2017:
- US-based private equity firm Blackstone has bought commercial property of Mumbai-based multiplex operator Carnival Group in Chandigarh for Rs.2200Crore. Carnival sold the property as it was a non-core asset for them.
- Pocket Aces, which creates long and short format content for digital consumption, has entered into a partnership with WebTV Asia, a multi-platform digital media entertainment company. Its content will be available on one of China’s biggest websites, Youku Tudou, owned by Alibaba. Pocket Aces is the first Indian digital media company to have a presence in China.
- Bankruptcy proceedings against Monnet Ispat and Energy Ltd and Alok Industries Ltd were approved by different benches of NCLT. Jyoti Structures was the first among big 12 firms identified for early bankruptcy proceedings by RBI.
- Till 7 July, airlines had to charge Rs578-1,335 as user development fee from passengers at Delhi airport. This has now been slashed to Rs10 and Rs45 for domestic and international flights, respectively. Passengers who have flown to or from Delhi airport after 7 July can seek refunds for the excess amount paid.
- Furniture and consumer durables rental start-up RentoMojo has raised $10 million in series B funding from private equity investor Bain Capital Ventures and fintech entrepreneur Renaud Laplanche. Existing investors Accel Partners and IDG Ventures contributed 20-30% of the fund and have increased their share in the firm.
- Healthcare start-up CureFit has bought Bengaluru-based yoga centre brand a1000yoga to expand its mental wellness offering. a1000yoga has three yoga centres and 1,000 customers.
*News as published in Business Standard, Live Mint and Economic Times.