Facebook India MD Umang Bedi resigns
Umang Bedi, managing director for India & South Asia at Facebook, has resigned and will leave the company by the end of the year.“We confirm that Umang Bedi will be leaving his role and Facebook at the end of this year. He’s built a really strong team and business during ......
Delhi High Court gives relief to ShopClues co-founders in forgery case
Giving relief to ShopClues CEO Sanjay Sethi and chief business officer Radhika Ghai Aggarwal, the Delhi High Court on Wednesday passed a ‘no coercion order’ on the police complaint filed by founder and former CEO Sandeep Aggarwal alleging forgery and criminal conspiracy.After the state additional public prosecutor sought time to ......
PE firm Peepul Capital loses senior executive
Homegrown private equity firm Peepul Capital has lost a top executive, a person aware of the development told VCCircle. Investment director Surya Mantha has resigned after nearly five years with Peepul Capital, the person cited above said on the condition of anonymity. VCCircle attempted to contact Mantha for comment. A query sent to ......
SAIF Partners-backed Aye Finance raises $10 mn in debt funding
Non-banking finance company Aye Finance Pvt. Ltd said on Thursday it has raised $10 million (Rs 71 crore) in debt funding from Swiss asset manager responsAbility Investments AG and homegrown firm Northern Arc Capital. Aye Finance will use the proceeds, raised through non-convertible debentures, to boost its loan growth, it said ......
Bharti Airtel to acquire Telenor India as Jio threat grows
Bharti Airtel Ltd said on Thursday it will acquire the local unit of Norwegian operator Telenor ASA, in the latest consolidation move in India’s telecom sector triggered by the entry of billionaire Mukesh Ambani’s Reliance Jio Infocomm Ltd.The acquisition will help Bharti strengthen its market leadership position in the wake ......
News Roundup: Kotak Mahindra Bank, Saxo Bank looking to buy stake in Sharekhan
Kotak Mahindra Bank and Danish online trader Saxo Bank are independently looking to buy a significant stake in online brokerage firm Sharekhan, lured by the prospect of expanding trading to India's small towns and cities. The two firms are in talks with CVCi International and Barings Asia, the private equity owners of Sharekhan. ......
Stressed assets: RBI to revise bad loans norms; Jet Airways’ lenders eye stake sale
At a time when the country's banking system is saddled with a pile of over Rs 10 lakh crore worth of bad loans, several branches of the National Company Law Tribunal (NCLT) have admitted a total of 1,484 cases for resolution under the Insolvency and Bankruptcy Code, 2016 (IBC) from ......
Sunil Mehra moving on from mid-market investment bank MAPE
Sunil Mehra, managing director at boutique investment bank MAPE Advisory, is moving out of the firm, sources told VCCircle.This development follows two senior hires made by MAPE since January this year—one in Mumbai and one in Bangalore. In the first high profile movement in the investment banking space this year ......
India’s billionaires list rises to all time high of 56: Forbes
The number of Indian billionaires inched up to 56 with a collective net worth of $191.5 billion compared with last year's haul of 55 names worth $193.6 billion, as per the latest global ranking of the super-rich by Forbes. The decline in the wealth of Indian billionaires was due to ......
MakeMyTrip’s Deep Kalra, others bet on task management app Dunzo
Dunzo Digital Pvt. Ltd, which runs daily task management app Dunzo, has raised $6.5 million (around Rs 46 crore) from a clutch of new and existing investors including Deep Kalra, the chairman and group chief executive officer of online travel services provider MakeMyTrip. According to Dunzo’s latest filings with the Ministry ......
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