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Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The Delhi High Court sends the share-transfer dispute between Ankur Jain and Hero’s Sunil Munjal to arbitration.
In a setback to Bira founder Ankur Jain, the Delhi High Court, on Thursday, refused to grant a stay on the transfer of shares pledged by a Jain family-owned entity to Sunil Munjal of Hero Enterprise.
The entity in question is Day1 Advisors, which is owned by Jain and his father, Ashok Jain. It had taken a loan of Rs 125 crore (via secured, unrated, unlisted and non-convertible debentures). As security, this debt included an exclusive pledge on shares in B9 Beverages, the parent of the embattled beer brand. “The shares were pledged to secure and discharge the obligation of …
