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Paytm records over four-fold jump in loan disbursals in Oct-Dec 2021

Digital payments firm Paytm on Monday posted over four-fold jump in loan disbursals from its platform both in terms of numbers and value in the quarter ended December 31, 2021. Paytm disbursed 44 lakh loans worth Rs 2,180 crore during the quarter as compared to 8.81 lakh loans worth Rs 470 crore disbursed from its platform in the year-ago period.

Five Star Business Finance, Waaree Energies get Sebi's nod to float IPOs

Non-banking financial company Five Star Business Finance and solar energy player Waaree Energies have received capital markets regulator Sebi's goahead to raise funds through initial share-sales. The two companies, which filed their preliminary IPO documents with Sebi between September and November, obtained its "observations" letter during January 3-7, an update with the regulator showed on Monday

Fortis parent IHH sued by US fund Emquore for $6.5 bn over 2018 takeover

In a stock exchange filing last week, Malaysian healthcare group IHH Healthcare Berhad (IHH) said that US fund Emqore Envesecure Private Capital Trust (Emqore) has filed a lawsuit against it and other defendants at the US District Court of New Jersey. IHH acquired a 31 per cent controlling stake in Fortis Healthcare in 2018 following a prominent bidding war against domestic and international companies. Although this triggers a mandatory offer to bring its stake to 57 per cent by buying shares from the open market, this has not taken place due to legal proceedings pending in the Supreme Court of India. IHH's takeover of Fortis has been challenged by Japanese drug maker Daiichi Sankyo in a bid to recover an arbitration award of INR 3,600 crore (USD 471 million) from the Fortis founders in a fraud claim. The next hearing is scheduled for February this year.

Maruti Suzuki says 8 models among top 10 passenger vehicles list of 2021

Maruti Suzuki India (MSI) on Monday said eight of its models featured in the top 10 passenger vehicles list of last year. This is for the first time that eight models of the company made it to the top 10 list in a calendar year, MSI said in a statement. The WagonR, Swift, Baleno, Alto 800, Dzire, Vitara Brezza, Eeco and Ertiga, joined the top 10 best-selling passenger vehicles for the first time, in 2021, it added.

Foxconn India iPhone plant to reopen on January 12: Govt officials

Apple Inc supplier Foxconn will reopen an iPhone manufacturing facility in southern India on Wednesday with 500 workers, government officials and a legislator in the region where the plant is located told Reuters. The Foxconn plant, in the town of Sriperumbudur near the Tamil Nadu state capital of Chennai, employed about 17,000 people but was closed on Dec. 18 after protests over 250 of its workers who fell sick with food poisoning.

NCLAT rejects petitions against Ola in alleged predatory pricing matter

The National Company Law Appellate Tribunal (NCLAT) has rejected petitions filed by ride sharing players Meru and Fast Track Call Cab against Ola alleging predatory pricing ways and anti-competitive practices in Bengaluru market. It was alleged that Ola indulged in abuse of dominant position and entered into anti-competitive agreements with drivers in the Bengaluru market.

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