Here are the India Business News Headlines as on 6th July 2017:
- SC has rejected Subrata Roy’s plea to grant him more time to pay the dues to SEBI and warned that Amby valley may be auctioned if Rs 552 crore was not paid by July 15.
- Tech Mahindra’s CEO’s remuneration in fy 2017 was Rs 150.7 crore, a three-fold rise over the previous year, making it among the highest compensations earned by top executives of Indian technology services companies. This includes perquisite value from three million stock options issued in 2011 and 2014 that he exercised during the year.
- Bidders for Air India may not get to bid for its land and real estate. The government is likely to hive off the non-core assets of Air India, including real estate, land parcels and art treasures into a separate company before calling a formal bid.
- Dr Agarwal’s Health Care is raising structured credit of Rs160 crore from Edelweiss Fund. Dr Agarwal’s has about 70 eye care centres in India. It also has some centres in countries such as Cambodia, Ghana, Mauritius, Mozambique, Nigeria and Rwanda.
- Droom has raised $20 million from Integrated Asset Management and others. The funding will be used to bolster its technology platform and drive greater adoption of various tools and services on offer.
- Moglix, a B2B industrial goods marketplace, has raised $12 million led by International Finance Corp. in a series B funding round that saw existing investor Jungle Ventures increase its investments. Ratan Tata is also an investor in Moglix.
- Amazon has invested another Rs1,680 crore in its Indian unit as part of its commitment to invest $5 billion to expand its local business. Amazon India received the funds last month.
*News as published in Business Standard, Live Mint and Economic Times.