L&T mounts hostile bid for Mindtree, eyes 67% stake for Rs 10,733 crore
As the first step, L&T entered into a deal to purchase the 20.32 per cent stake of Mindtree’s single-largest investor, V G Siddhartha, at Rs 980 per share in an all-cash transaction, which translates into Rs 3,269 crore. Read on...
Jet Airways crisis deepens as Etihad refuses to agree on contours of deal
Tony Douglas, the chief executive officer of Abu Dhabi-based Etihad Airways, has informed a consortium of lenders, led by SBI, that Etihad would not participate in the rights issue or infuse fresh funds under the current terms and conditions of the resolution plan. Read on...
Mukesh Ambani bails out Anil in Ericsson payout case day before SC deadline
RCom on Monday cleared the entire dues to Ericsson India to purge the contempt of a Supreme Court order. The debt-ridden company had already paid Rs 118 crore of the Rs 550-crore dues. In addition, the company had paid around Rs 3 crore in penalties to Ericsson. Read on...
GST Council may discuss new rate structure on under-construction houses
While the first decision would help bring transparency between home buyers and builders, the second would help faster resolution of “place of supply”-related disputes. Read on...
ArcelorMittal gets NCLAT's conditional nod for Rs 42,000 cr Essar Steel bid
The resolution professional (RP) of the company will head the monitoring committee, which will ensure that Essar Steel remains a going concern, the NCLAT said. Read on...
Brookfield to check into Hotel Leela Venture for Rs 3,950 crore
This will be for a transaction value of Rs 3,950 crore. The promoters of the Leela brand would also be transferring the brand to Brookfield for all hospitality businesses. Read on...
RCom, Reliance Jio terminate agreement for sale of telecom assets
How robots could hurt jobs in developing Asia
Asia’s participation in global value chains has been critical for job creation in the continent. However, these jobs could now be under threat from technology. According to new research, technologies such as digital manufacturing and robots could result in job losses in the region, reports Livemint.
Xiaomi pumps Rs 3,500 crore into India business
As per regulatory filings with Registrar of Companies, Xiaomi infused the money into Xiaomi Technology India in two tranches this year: Rs 2,000 crore on March 1 and Rs 1,500 crore on January 17, reports Economic Times.
Against the grain: In some parts of Maharashtra, women get dowry
Maharashtra’s agrarian crisis has given birth to a ‘reverse dowry’ system, wherein the girl’s parents demand dowry from young farmers, reports Businessline.