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Top 10 biz headlines: Mindtree board meet, Naresh Goyal quits Jet, and more

From telecom sector revenue to Jet Airways crisis, BS brings you top 10 business stories that made news on Monday

BS Web Team  |  New Delhi 

Naresh Goyal
File photo: Naresh Goyal | PTI

Naresh Goyal exits crisis-hit board but room open for return

Naresh Goyal’s reign at Jet Airways, the company he founded 25 years ago, ended on Monday as he stepped down as chairman of the board and transferred control to the lenders. The consortium of lenders, led by the State Bank of India, will now own a 50 per cent stake in the airline, while Goyal’s stake would be halved to 25.5 per cent. Abu Dhabi-based Etihad Airways would shed its shareholding to 12 per cent from 24 per cent earlier. Read more

Sibling love again: LN Mittal helps Pramod pay State Trading Corp claims

Long before the news splashed that a billionaire elder brother had come to the rescue of a sibling on the verge of being sent to jail for non-payment of dues, another brotherhood story was playing out in Indian business world. This story was one of the Mittals. Read more

From April 1, I-T dept to check taxpayer's profiles under Project Insight

From April 1, the Income-Tax (I-T) department will keep a check on taxpayers’ comprehensive profile, including transactions, relationships, social networking and all other related information under its much-awaited Project Insight, slated to be fully operational from the beginning of the next financial year. Read more

Markets failed to sizzle under NDA govt in last five years, say experts

When the BJP-led Democratic Alliance (NDA) came to power in May 2014, the markets rallied buoyed by the hope that the resounding mandate given to the NDA would lead to policy decisions favourable to industry. Read more

Muted ringtone: Telecom revenue slips for 3rd straight year in FY19

The telecom sector will witness the third consecutive year of revenue decline despite consolidation in the industry. This is because operators continue to face intense pricing pressure. Read more

'Regulatory sandbox' norms for fintech firms in 2 months: Shaktikanta Das

The central bank is set to issue guidelines for a ‘regulatory sandbox’ for financial technology (fintech) firms within two months, Reserve Bank of India Governor Shaktikanta Das said on Monday. Read more

L&T knocking at its door, board to decide on buyback Tuesday

The board of Mindtree, which is meeting in Bengaluru on Tuesday, can take a leaf out of Anil M Naik’s book who successfully thwarted several takeover attempts on Larsen & Toubro (L&T), including those from the Ambanis and the Birlas. Read more

Fake Range Rovers banished from China, copycat automaker fined

A Chinese court ordered a local carmaker to stop selling a copycat version of the Range Rover Evoque in China, a rare legal victory for foreign companies locked in intellectual property disputes with local firms. Read more

Edelweiss eyes $1 billion corpus for latest fund

Edelweiss aims to raise up to a $1 billion corpus for its latest alternative investment fund (AIF), Edelweiss Special Opportunities Fund (ESOF) III, according to a senior executive of the diversified financial services group, reports Livemint.

The Indian techie codes better than his Chinese peer, but there's a big catch

A new front has just opened in the game of brownie points between India and China, except that this round is being fought in an unusual place — the office desk of IT companies big and small, reports The Economic Times.

First Published: Tue, March 26 2019. 06:17 IST