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Vijay Mallya Offers to Sell Assets Worth INR13,900cr et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jun 27, 2018 1:34 PM 2 min read
Editorial

End of Day Wrap-up (Wednesday / June 27, 2018) #VijayMallya #Fortis #healthcare #hospital #DBS #Blackstone #IndiaBulls #Mumbai #Uber #Facebook #Cryptocurrency #Bitcoin #Litecoin #Ripple #Litecoin #blockchain #Transfin

Editor's Comment: Vijay Mallya offers to sell assets worth INR13,900cr to settle dues, as he makes a letter sent to PM Modi and Finance ministry in 2016 public. He has filed an application last with United Breweries Group Ltd to Karnataka High Court setting out available assets worth INR13,900cr.

 

Fortis Healthcare claims systemic lapses found in inter-corporate borrowings given by its arm Fortis Hospitals. This comes in after an independent investigation set up by the company with an external legal firm. The findings have also been forwarded to SEBI and SFIO.

 

DBS to set up subsidiary bank in India by October. The aim is to increase lending to retail and SMEs so as to rebalance its balance sheet away from corporate loans. DBS will be the first international bank to set up a fully owned subsidiary bank in India.

 

Blackstone, Indiabulls to add six offices in Mumbai and NCR to its joint commercial real estate platform. While three offices will be owned jointly, the remaining three will be solely owned by Indiabulls only. The idea is to bring assets with annuity income under the joint venture.

 

Uber’s London licence restored as it  wins 15 month operating licence after its appeal and change in rules. Uber is expected to pay GBP425,000 as legal costs to Transport for London (TfL). These 15 months will act as a monitoring and enforcing period for TfL.

 

Facebook reviews and changes its ban on cryptocurrency adverts. However, promoting Initial Coin Offerings (ICOs) and binary trading are still prohibited. Facebook has reduced its stringency over cyptocurrency, after its rumored coinbase exchange takeover.