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Yes Bank may not give its approval for Blackstone Group's buyout of Coffee Day Group's Global Village Technology Park, Mint reports.Coffee Day Group promoters have a debt of around $1 billion, the report said. The proposed Rs 2,800-crore sale of Global Village Technology Park is expected to help the group service some of its debt.Yes Bank is the single-largest lender to Coffee Day Group, with an exposure of Rs 1,500 crore, the report said.Close “Almost all statutory approvals, including the Karnataka government’s nod, have come, except for Yes Bank’s NOC (no-objection certificate)," a source told the paper. related news Nearly 500 CCD outlets shut down across India since April: Report Coffee Day Enterprises executes definitive agreement with Blackstone Group for tech park sale at Rs 2700 crore Blackstone Group signs definitive agreement for Coffee Day's tech park: Report Moneycontrol could not independently verify the report.Yes Bank, Coffee Day … [Read more...] about Coffee Day lender Yes Bank may block Blackstone deal: Report

Telecom regulator TRAI on December 10 issued a public notice on the revised mobile number portability process, which is slated to make the porting process fast and simple from December 16.The new process, which comes with conditions for generation of Unique Porting Code (UPC), entails three working days' timeline for port out requests within a service area, and five working days for requests for port out from one circle to another.There is no change in the porting timelines for the corporate mobile connections, the Telecom Regulatory Authority of India (TRAI) said.Close "TRAI has revised the Mobile Number Portability (MNP) process...In the revised MNP process, the Unique Porting Code (UPC) will be generated only when the subscriber is eligible to port-out his mobile number," TRAI said. related news RBI had no objection to issuance of electoral bonds through SBI: FM Sitharaman India, Australia move closer on Logistics Support Agreement, discuss situation in Indo-Pacific: … [Read more...] about TRAI issues public notice on revised MNP process; new norms effective from December 16

Over 40,000 home buyers stuck in incomplete projects floated by Jaypee Infra against which the National Company Law Tribunal has recently started insolvency proceedings will now not have to fill up any claim forms by August 24, 2017.In a meeting attended by  Jaypee Infratech MD Manoj Gaur, the NCLT appointed insolvency professional Anuj Jain and CEO of Jaypee Infratech, corporate affairs ministry officials and home buyers, it was decided that home buyers will not have to submit any documents.“We are much relieved as we do not have to file any claim forms by August 24 now. Jaypee Infratech will obtain statements of accounts of payments made by home buyers from its records and send these to each home buyer to check for any discrepancy,” said  SK Nagrath, a retired army official and president of Jaypee Aman Flat Buyers' Association.Close Arvind Jain, president of Developers Township Property Owners Welfare Society said, "Asking home buyers to fill up a claim form was … [Read more...] about Jaypee home buyers will not have to fill up any claim forms

Billionaire investor Rakesh Jhunjhunwala might shelve a plan to invest $25 million in Yes Bank due to uncertainty over the lender's capital raising plans, BusinessLine reports.The owner of Rare Enterprises had planned to invest $25 million in the private sector lender through his wife Rekha Jhunjhunwala's family office, the report said.Moneycontrol could not independently verify the story.Close Jhunjhunwala is expected to release a formal letter regarding the investment on December 10, the report stated."The logic behind not subscribing to Yes Bank's preferential allotment by Jhunjhunwala is that it is higher than the prevailing market price. There is also a lock-in period," a source told the newspaper, adding that the market veteran can instead buy shares at a lower price in the open market without a lock-in period.Yes Bank's shares closed at Rs 56.2 on the BSE on December 9, and the preferential offer is priced at Rs 78. At 09:38 hours, the counter was … [Read more...] about Rakesh Jhunjhunwala may withdraw plan to invest $25mn in Yes Bank; stock down over 3%

Former Infosys CEO Vishal Sikka, who recently launched his AI startup Vianai Systems, has been nominated to the board of directors of global technology major Oracle.Sikka, 52, is among the world's leading experts in Artificial Intelligence (AI), Machine Learning and would be helping Oracle in the business value and adapt to change, the company said in a statement."Vishal is one the world's leading experts in Artificial Intelligence and Machine Learning,” said Oracle chairman and CTO Larry Ellison, announcing Sikka's addition to the Board of Directors.Close Before starting Vianai, Sikka was a top executive at SAP and the CEO of Infosys. related news Anti-diabetes drug Vildagliptin to become 80% cheaper Hyundai to increase vehicle prices from January Aditya Birla Fashion gets board nod for appointment of Himanshu Kapania as Vice Chairman Ellison said that Sikka's expertise and experience makes him ideally suited to provide strategic vision and expert advice to Oracle and … [Read more...] about Former Infosys CEO Vishal Sikka joins Oracle’s board of directors