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Reliance to buy control of New York's Mandarin Oriental hotel for $98 mn

Reliance Industries Ltd is paying nearly $100 million for a controlling stake in Mandarin Oriental New York, a five-star hotel in midtown Manhattan, through the purchase of its Cayman Islands-based parent. The company said the acquisition of Columbus Centre Corp (Cayman), an indirect owner of a 73.37 per cent stake in Mandarin Oriental New York, by Reliance Industrial Investments and Holdings Ltd would add to its consumer and hospitality activities. The closing of the transaction is anticipated by the end of March 2022, the company said.

UP to impound Bajaj Hindusthan's Rs 1,000 crore to pay sugarcane farmers

The Uttar Pradesh government will impound Rs 1,000 crore dues of Bajaj Hindusthan’s power plant in the state to settle the sugarcane farmers’ payment outstanding on the diversified Group. Currently, the Bajaj Group’s sugar mills in UP collectively owe more than Rs 2,361 crore in farm dues. However, the company had consistently been defaulting on its liabilities citing outstanding on the state owned UP Power Corporation Limited (UPPCL).

Oberoi Realty Q3 sales bookings jump 2-fold to Rs 1,965 cr

Mumbai-based Oberoi Realty has reported over two-fold jump in its sales bookings at Rs 1,965 crore for the third quarter ended December on higher demand. In regulatory filings on Friday, Oberoi Realty has shared a summary of bookings made by the company for the third quarter of this financial year (on a consolidated basis). Its sales bookings rose to Rs 1,965 crore during the October-December quarter from Rs 971 crore in the year-ago period. Oberoi Realty sold 371 units during the last quarter against 234 units a year ago.

Equitas Holdings to divest stake in ETPL ahead of merger with

Equitas SFB Equitas Holdings Ltd will divest its entire stake in subsidiary Equitas Technologies Pvt Ltd (ETPL) as part of the requirement for the merger with Equitas Small Finance Bank (ESFB). As part of the RBI's licensing conditions, being the promoter of ESFB, the boards of Equitas Holdings and ESFB had in July 2021 approved the scheme of amalgamation between them. According to this scheme, all the assets held by Equitas Holdings, including its investments in ETPL, have to be transferred to and vested in ESFB.

Alliance Air issues tender to refurbish entire fleet of 18 ATR-72 aircraft

Alliance Air, a subsidiary of Air India, has issued a tender to refurbish its entire fleet of 18 ATR-72 aircraft. Air India, after its successful sale to the Tata Group in October last year, is expected to be handed over to the conglomerate in the first half of this year. However, Alliance Air will remain with the Centre as it was not up for sale. As per Alliance Air's tender, which has been accessed by PTI, the winning bidder will have to refurbish cargo net, seat cushion repair, seat cover back and bottom, arm handle, floor board, seat belts along with the buckle, tray table and its latch.

Microsoft CEO Satya Nadella joins Groww as investor, advisor

Tiger Global-backed Groww on Saturday said Microsoft chief executive officer Satya Nadella has joined the company as an investor and advisor. "Groww gets one of the world's best CEOs as an investor and advisor. Thrilled to have @satyanadella join us in our mission to make financial services accessible in India," Groww's co-founder and CEO Lalit Keshre tweeted. However, he didn't disclose the financial details of the investment.

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