The business wrap: Snapdeal unveils its premium 'Gold' service, and six other top stories
The Supreme Court gave banks 10 days to reply to Vijay Mallya's plea against a contempt notice, and Paytm is looking to raise $350 million in a funding round.
A look at the headlines in the sector right now:
- Snapdeal Gold premium service launched to challenge Amazon Prime, Flipkart Assured: Customers, who can opt for it free of cost, will get free shipping, an extended two-week return limit on orders and a free upgrade for next-day deliveries.
- Supreme Court gives banks 10 days' time to reply to Vijay Mallya's plea against contempt notice: Attorney General Mukul Rohatgi argued that the businessman's petition should not be heard as he failed to appear before the court despite repeated orders.
- Paytm eyes $350 million in new funding round, valuation could rise to $5 billion: MediaTek, Goldman Sachs and Temasek are reportedly in talks with the online payment and e-commerce firm, alongside existing investors Alibaba and SAIF Partners.
- Maharashtra Assembly unanimously ratifies GST Constitution Amendment Bill: This makes it the eighth state in the country to give the long-pending proposed law its formal consent.
- Australian court rules in favour of Gautam Adani’s Carmichael mine project, dismisses environmental concerns: The Australian Conservation Foundation had moved a federal court in November, challenging the approval granted to the coal excavation project in in Queensland.
- Airtel launches 'India with Airtel' one-stop connectivity service for MNCs: It provides a platform for international firms looking to open shop in India.
- BlackBerry to raise $605 million from shareholder FairFax Financial Holdings and other investors: The firm has the second-largest stake in the Canadian smartphone making company at 8.9%.
