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Top 10 biz headlines: ED books Kochchar, RIL knocks on NCLT's door, & more

Here are the top 10 business stories that made news on Saturday

BS Web Team  |  New Delhi 

Chanda Kochhar
File photo of Chanda Kochhar

1) seeks new partners as financial sponsors look to exit

Nearly three years after Cyrus Mistry’s failed attempt to list through an IPO, the company’s financial investors are looking to monetise their investments through a stake sale, The Economic Times reported. Read more

2) says stakeholders yet to agree and approve resolution plan

(India) Ltd. on Friday said that stakeholders of the airline and board of directors of the company are yet to agree and approve the resolution plan that is expected to infuse much-needed capital in the company, LiveMint reports. Read more

3) Creditors panel approve JNPT's BID to buy debt-laden Dighi Port

The Committee of Creditors (CoC) has backed the resolution plan placed by state-owned (JNPT) to buy the debt-laden Dighi Port Ltd under India’s bankruptcy and

The approval of the lenders panel will be submitted to the Company Law Tribunal (NCLT) for ratification, at least two people briefed on the decision told BusinessLine. Read more

4) Videocon loan case: ED books Chanda, for money laundering

The (ED) has registered a criminal case of money laundering against former ICICI Bank CEO Chanda Kochhar, her husband Deepak Kochhar, promoter Venugopal Dhoot and others to probe alleged irregularities and corrupt practices in sanctioning of Rs 1,875-crore loan by the bank to the corporate group, officials said Saturday. Read more

5) Now, knocks on NCLT's door for share in pie

Mukesh Ambani-led (RIL) has joined other operational creditors knocking on the doors of the Company Law Tribunal (NCLT), seeking dues in the insolvency case.

Claiming Rs 16.41 crore in what is believed to have accrued out of fuel and other services provided to Essar Steel’s 8 million metric tonnes per annum plant at Hazira, RIL has filed applications for the same before the NCLT's Ahmedabad Bench. Read more

6) New FDI rules: Thousands of products disappear from e-commerce websites

and ’s grand plans for India were thrown into chaos on Friday after the country implemented new e-commerce regulations, which could cut their growth in the market by as much as half this year. Read more

7) Oracle seeks to strengthen client base in country with India-first products

Software major oracle is looking to deepen its relationship with Indian customers by launching a number of India-first products, improving its client base, and is also working with local start-ups as the company gears up to launch its data center services this year. Read more

8) Zee5, ALTBalaji and SonyLIV make it to Google Play Store's top list

Three Indian over-the-top (OTT) players figure in the top grossing applications’ list of Google’s Play Store. Latest data (as on February 1) shows that Zee5, ALTBalaji and SonyLIV are among the top ten in the list of apps that are paid for (called top grossing apps in industry parlance), behind Netflix, which is number two. Read more

9) UnitedHealth takes on Amazon, Berkshire Hathaway and JPMorgan Chase

The underlying case involves allegations made by UnitedHealth Group, which is asking a judge to stop a former executive from working at the new health care outfit created by Amazon, Berkshire Hathaway and JPMorgan Chase, reported NYT. Read more

10) NBCC to construct hospital in Goa for Rs 268 crore

NBCC India on Saturday said it will construct an ayurveda and naturopathy hospital in Goa at a cost of Rs 267.81 crore. A memorandum of understanding (MoU) with the Ministry of AYUSH has been signed in this regard. NBCC will complete the 50-acre project in the next 24 months, the company said in a statement. Read more

First Published: Sun, February 03 2019. 10:22 IST
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