Air India to hire law firm for assessing labour issues, business contracts

National carrier Air India has invited bids from law firms to assess labour issues, possible liabilities arising out of litigation and group companies’ contracts with various business partners ahead of disinvestment in three of its entities—Air India Ltd., Air India Express Ltd. and Air India SATS Airport Services Pvt. Ltd. (AISATS). The due diligence will cover a range of issues such as existing arrangements with employees, employee benefits and labour disputes along with Air India group’s contracts with a host of business partners valued above ₹50 crore, including aircraft lease and fuel supply arrangements. It…

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WEWORK’S FOUNDER MAKES HIS BEST BUSINESS MOVE YET: QUITTING

Listen, don’t worry about Adam Neumann, who was just ousted as the CEO of The We Company; first of all, he’s still the non-executive chairman of The We Company. Besides, entrepreneurs are like vampires: unless you put a stake through their heart, they’ll come back. (Just ask Travis Kalanick, who’s claiming his next act will be “bigger than Uber.”) Neumann will be fine. The better question is if We will be fine. Another good question is if SoftBank, We’s biggest shareholder, will be fine. WE IS NOW IN THE PROCESS OF UNWINDING FROM ADAM…

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Reverse Pitch | Every business will soon be subscription business: Sanjay Mehta

Subscription economy has opened up new opportunities with startups. It is a big enough market and an opportunity for 100X.VC to fund them. Startups and large corporations alike are dipping their toes into the subscription business model. The subscription economy is bigger than the sharing economy—it’s a significant shift in pricing from a one-time-buy to pay-per-use to now a fixed-fee monthly payment model for all you can consume. At 100X.VC, we back startup founders with exponential thinking. The subscription business model has grown exponentially in recent years. We are excited…

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How to start your own ecommerce business in India

Bill Gates once said: “If your business is not on the internet, then your business will be out of business.” The ecommerce industry is ushering in the next wave of change for the Indian economy and if you’ve been thinking about venturing a foot into its world of infinite profits, then the clock is ticking…the time is ripe to start your own ecommerce business in India. Amazon, Flipkart, Snapdeal all showed us that ecommerce truly is the future. And the only way they became as big as they did was because…

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BACQ to provide loans, debt financing, business assistance to companies

There is nothing new about the fact that Sachin Bansal had been in talks with RBI to understand the banking guidelines to reportedly open his own bank. Neither is his financial services agenda and NBFC investments and going bullish on fintech and agritech segment with BAC Acquisitions a breaking news. However, in the latest documents filed by the company with Registrar of Companies at Ministry of Corporate Affairs, certain changes were made to the Memorandum of Associations – a fundamental document on the basis of which a company has to operate. To elucidate, MoA…

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JSW Group enters paints business with ‘Any Colour, One Price’ USP

The $13 billion Sajjan Jindal-led JSW Group, operating in the core sectors of steel, energy, cement and infrastructure, is entering into paints business in India with JSW Paints. Claimed to be the first Indian conglomorate to enter into the paint business in the country dominated by domestic major Asian Paints, Kolkata-based Berger Paints or Japanese major Nippon, JSW Paints will manufacture and market both industrial coatings as well as decorative paints. In industrial coatings, JSW Paints commences operations with coil coatings and in the decorative paints segment, the company will…

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Tata Sponge finishes acquisition of Usha Martin Ltd’s steel business

Kolkata: Tata Steel’s subsidiary Tata Sponge Iron on Tuesday said it has completed the acquisition of steel business of debt-ridden Usha Martin Ltd (UML), though transfer of some assets including mines and certain land parcels is pending. “This is to inform you that the Company has completed the acquisition of steel business undertaking including captive power plants, today (Tuesday) i.e. on April 9, 2019, pursuant to a cash consideration (after adjustment for negative working capital and debt like items) payable to UML of ₹4,094 crore, which is subject to further hold backs of ₹640 crore, pending…

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WhatsApp Business App now available on iPhone

NEW DELHI: Facebook-owned WhatsApp Business, a free-to-download communication app specifically designed for small businesses, is now officially available for iPhone users in several countries including India. The WhatsApp Business app was launched for Android in January 2018. “Today we’re introducing the WhatsApp Business app for iOS. Like the Android version — which over the last year has been adopted by millions of businesses around the world — the WhatsApp Business app for iOS will be free to download from the Apple App Store,” WhatsApp said in a blog post on Thursday. Besides…

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6 handy tools to run your business from home

When you are the sole caretaker of a business venture that you have founded and are working on it from home, because of lack of manpower, the efficiency of the business may be hindered. These handy tools will simplify all the core tasks for you and up your business game. 1. Invoice maker With GST the hassle of managing multiple taxes is gone, yet it is not easy to get a good invoice generator with support for GST in India. There are a few paid options such as Tally, QuickBooks etc. that work well, but as a…

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Repco Bank business crosses ₹15,000 crore

Repco Bank, a cooperative bank under the administrative control of the Ministry of Home Affairs, today announced that its business has crossed ₹15,000 crore in FY19, with total deposits of ₹8,669 crore and advances of ₹6,337 crore. Established in 1969 with the prime objective of rehabilitating repatriates from Sri Lanka, Burma and Vietnam, the bank has a unique reputation of catering to the repatriate community. With presence in 108 centres and 10-lakh customers, this cooperative sector bank has a strong financial net worth of around ₹800 crore. In the past five years, it has…

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