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Recap 2019 | Here's what made news in India's corporate sector this year

Here are the most important changes that India Inc witnessed in 2019.

December 13, 2019 / 07:54 AM IST
Jet Airways, India's second-largest airline, has grounded its aircrafts and suspended its operations in April 2019. The company has been taken to the bankruptcy court and is looking for a buyer.
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Collapse of Jet Airways | India's second-largest airline, grounded aircraft and suspended operations in April 2019. The company has been taken to the bankruptcy court and is looking for a buyer. (Image: Reuters)
Zee Entertainment Enterprises (ZEEL) founder Subhash Chandra stepped down as the company’s chairman. Chandra’s Essel Group sold their 16.5 percent stake in ZEEL, bringing their stake down to 5 percent. (Image: Reuters)
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Crisis at Zee Entertainment Enterprises | Founder Subhash Chandra had to step down as the company's chairman. Chandra's Essel Group sold its 16.5 percent stake in ZEEL, reducing stake to 5 percent.
The finance ministry announced consolidation of 10 PSU Banks into four, lowering the number of state-run lenders to 12 from 27.
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Merger of 10 PSU banks | Finance Minister Nirmala Sitharaman announced consolidation of 10 PSU Banks into four, lowering the number of state-run lenders to 12 from 27. (Image: PTI)
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Corporate tax rate cut | In a major boost to India Inc, the government cut corporate tax rate to 15 percent from 22 percent. (Image: Reuters)
Yes Bank announced a $2 billion capital raising plan, and has received offers to help that goal.
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Trouble for Yes Bank | The lender's stocks plummeted amid negative news reports on the bank, hence to boost sentiment, it announced a $2 billion fund raising plan, which continue to remain in discussion with the board. (Image: Reuters)
Officials are investigating a scam at Punjab and Maharashtra Cooperative (PMC) Bank, which is estimated at over Rs 4,300 crore. The bank has since restricted the amount depositors can withdraw. (File image)
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PMC Bank scam | Authorities are investigating a scam at Punjab and Maharashtra Cooperative (PMC) Bank, which is estimated at over Rs 4,300 crore. The bank has been under RBI directions and has restricted depositors from withdrawing large sums. (Image: Moneycontrol)
A whistleblower has accused Infosys’ senior management of inflating numbers in the accounts. Chief executive Salil Parekh and CFO Nilanjan Roy have been named in the complaint. (Image: Reuters)
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Infosys whistleblower incident | A whistleblower accused senior management of the IT major of inflating numbers in its book of accounts. Chief Executive Salil Parekh and CFO Nilanjan Roy have been reportedly named in the complaint. (Image: Reuters)
VG Siddhartha, the founder of Café Coffee Day, India’s largest café chain, passed away in July. (Image: Reuters/Shailesh Andrade)
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VG Siddhartha's death | The founder of Café Coffee Day, India’s largest café chain, passed away in July of an apparent suicide. (Image: Reuters)
SEBI is investigating Karvy Stock Broking over suspected unauthorised use of clients’ securities. The NSE and BSE have temporarily suspended Karvy’s license.
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Karvy fraud | SEBI is investigating Karvy Stock Broking over suspected unauthorised use of clients' securities. The NSE and BSE have temporarily suspended Karvy's trading license. (Image: Moneycontrol)
ArcelorMital, the world’s largest steelmaker, has proposed to takeover bankruptcy-hit Essar Steel.
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ArcelorMittal's bid for Essar Steel | The world's largest steelmaker proposed to takeover bankruptcy-hit Essar Steel, which got the Supreme Court nod on November 15. ArcelorMittal's made a takeover bid for Essar Steel for Rs 42,000 crore. (Image: Reuters)
Moneycontrol News
first published: Dec 13, 2019 07:54 am

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