McDonald’s to enforce closure of all 169 outlets as NCLAT refuses interim relief
The Indian unit of McDonald’s Corp. said it will shut all its 169 outlets in northern and eastern India after estranged partner Vikram Bakshi failed to win interim relief on a petition challenging the fast-food chain’s termination of their franchise agreement. McDonald’s India Pvt. Ltd announced its intention immediately after the National Company Law Appellate Tribunal (NCLAT) said it would hear Bakshi’s interim plea along with the main appeal scheduled for hearing on 21 September.
1993 Mumbai serial blasts: Abu Salem gets life term, death for Firoz Khan, Tahir Merchant
Two men will hang, two others will be jailed for life, and one will spend 10 years in prison for their role in the 1993 Mumbai serial bomb blasts that killed 257 people and injured over 713, a special court ruled on Thursday. One of the two people sentenced to life is gangster Abu Salem, who was extradited from Portugal in 2005. The Terrorist and Disruptive Activities (Prevention) Act court in Mumbai (TADA court) had convicted six people on 16 June. Out of the six, Mustafa Dossa, one of the convicts and key conspirators, died on 28 June and the case against him was abated.
Hyderabad metro: First phase of rail project to be operational in Nov 2017
The Telangana government on Thursday decided to start the first phase of Hyderabad Metro rail project in November and urged Prime Minister Narendra Modi to inaugurate it. Chief Minister K Chandrasekhar Rao on Thursday wrote a letter to the PM Modi in this regard, a release from the chief minister’s office said. Modi is expected to attend the ‘Global Entrepreneurship Summit’ to be held here from November 28 to 30 and Rao urged him to inaugurate the project at that time, it said.
Dixon Technologies IPO oversubscribed 1.22 times on Day 2
The initial share sale of consumer electronics manufacturer Dixon Technologies was oversubscribed 1.22 times on the second day of bidding on Thursday. The initial public offer (IPO), to raise up to Rs 600 crore, received bids for 28,93,336 shares against total issue size of 23,76,557 shares, data available with the NSE till 1215 hrs showed. TillWednesday, the IPO has subscribed 78 per cent. Dixon Technologies on Tuesday raised nearly Rs 180 crore from anchor investors.
Oyo closes $250 million funding round led by SoftBank Vision Fund, Hero Enterprise
Hotel aggregator Oyo has closed a $250 million (about Rs 1,600 crore) round of funding, which was led by its existing backer SoftBank, with new investor Hero Enterprise also coming on board. The Tokyo-headquartered conglomerate has invested through its $100 billion SoftBank Vision Fund, making this the second major bet placed by the world’s largest pool of private capital in India over the course of the last two months.
From now on, govt ID a must to book domestic flights
The Centre will issue the final rules for “no flylist” (NFL) on Friday. Once implemented, one will need to give number of any of the following IDs — Aadhaar, driving licence, passport or Pan number — while booking a domestic ticket. Election Commission voter ID card might also be acceptable but a final call on this is yet to
About the Author
