Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>Walmart had acquired <keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> for a whopping $16 billion, giving exits to both founders Sachin and Binny Bansal.</li><li><keyword id="225032" type="General" weightage="20" keywordseo="sachin-bansal" source="Orion">Sachin Bansal</keyword> went on to found his financial products and services company Navi Technologies, which is now looking to go public.</li><li>Yet Sachin Bansal is still dealing with eight lawsuits related to his tenure at the ecommerce titan Flipkart.</li></ul>It has almost been four years since Sachin Bansal formally gave up all leadership responsibilities of Flipkart, yet he is still dealing with eight lawsuits related to his tenure at the ecommerce titan. The <a href="https://www.businessinsider.in/stock-market/news/flipkart-cofounder-sachin-bansals-latest-venture-navi-files-draft-papers-for-3350-crore-ipo/articleshow/90172988.cms">draft red herring prospectus (DRHP) of Navi Technologies</a>, Bansal’s latest entrepreneurial venture, revealed that there are currently thirteen lawsuits and litigations filed by or against the 40-year-old. While some of these matters are related to Bansal’s personal life, others are all around his stint at Flipkart. The <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-and-tiger-global-have-a-billion-dollar-notice-to-respond-to-in-the-next-90-days/articleshow/85059732.cms">latest one of this is by Enforcement Directorate</a> (ED), where the state-run financial investigation agency issued a show cause notice against <keyword id="2119269" type="General" weightage="20" keywordseo="flipkart-founders" source="Orion">Flipkart founders</keyword> Sachin and Binny Bansal in July 2021. The agency asked both the founders why they shouldn't face a $1.35 billion penalty over alleged violation of Foreign Exchange Management Act (FEMA) between 2009 and 2015. The notice was also sent to investors Accel, Tiger Global, Accel nominee director Subrata Mitra, and Tiger Global nominee director Lee Fixel, who had invested in Flipkart before it was acquired by Walmart in 2018. In response, Sachin Bansal filed a <a href="https://www.businessinsider.in/business/news/flipkarts-sachin-bansal-moves-madras-high-court-challenging-ed-notice/articleshow/85903371.cms">writ petition before Madras High Court </a>in August to challenge the show cause notice. The matter is currently pending before court. However, ED has not taken any steps in the matter so far. “...If any adverse order is passed against the Promoter [in this matter], such outcome may have an adverse impact on the reputation of our Company and may also affect the business prospects of our Company [Navi],” the DRHP noted. There are six matters where petitions have been filed against Flipkart between 2015 to 2021, where Bansal has been made a party “due to his past associations with Flipkart”, the DRHP read. “Our Promoter has not received any notice or summons nor has any access currently to any information pertaining to these matters,” it further added. Flipkart has also filed a case in Madhya Pradesh High Court against an individual. Bansal is mentioned as a petitioner. All these matters are currently pending in court. US retail giant Walmart had acquired Flipkart for a whopping $16 billion, in exchange for 77% stake in the ecommerce giant, in May 2018. Sachin Bansal had exited the company soon after the acquisition, whereas Binny Bansal still holds around 2.4% in the company. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/paytms-shares-hit-an-all-time-low-plunging-below-the-700-mark-after-rbi-pulls-up-its-payments-bank/articleshow/90193957.cms" data-type="tilCustomLink">Paytm’s shares hit an all-time low plunging below the ₹700-mark after RBI pulls up its payments bank</a> <a href="https://www.businessinsider.in/business/startups/news/interview-you-will-be-able-to-own-bajaj-made-yulu-bikes-by-next-year/articleshow/90172838.cms" data-type="tilCustomLink">INTERVIEW: You will be able to own Bajaj-made Yulu bikes by next year</a> <a href="https://www.businessinsider.in/business/corporates/news/ebixcash-has-four-businesses-but-only-one-of-them-is-pulling-in-big-money-for-the-company/articleshow/90190010.cms" data-type="tilCustomLink">EbixCash has four businesses but only one of them is pulling in big money for the company</a>

Four years later, Sachin Bansal is still battling eight lawsuits from his Flipkart days

Kolkata, Feb 25 () Apeejay Surrendra Park Hotels,which runs that Park hospitality chain across the country,would mostly use the proceeds of its proposed initial publicoffer (IPO) to retire debt, an official said on Tuesday.Apeejay Surrendra has already filed the DRHP with thecapital market regulator SEBI which is expected to give itsapproval in March."The proceeds of the IPO will be used largely toretire debt and for meeting other regular operating expenses,"Vijay Dewan, MD of Apeejay Surrendra Park Hotels, toldreporters on the sidelines of a CII event here.He said the debt of the company is around Rs 450crore. "We are expecting the SEBI approval by March", he said.The DRHP was filed during December end, he said.On new properties, Dewan said the company is settingup a 200-room hotel in Pune for which construction has alreadystarted.The Pune hotel will cost around Rs 160 crore and willbe under the Park brand.Apeejay will also add 100 rooms at Vizag and another80 rooms in Navi Mumbai.Dewan said the company will gradually move towardsmanaging properties rather than owning them.The company has also taken over the Danish Tavern atSrirampur from the West Bengal government, he said. dcNN NN

''Apeejay Surrendra Park Hotels IPO float to retire debt''

New Delhi, Mar 16 () Apeejay Surrendra Park Hotels has got regulatory go-ahead for its estimated Rs 1,000 crore initial public offer (IPO). The IPO comprises a fresh issue of up to Rs 400 crore and an offer-for-sale (OFS) of up to Rs 600 crore, according to merchant banking sources. As per the latest update from the Securities and Exchange Board of India (Sebi), the regulator issued its final observation letter on March 9 for the public offer. This paves the way for the launch of the public offer. The amount to be raised through OFS comprises up to Rs 125.4 crore by promoter selling shareholder, up to Rs 354.9 crore by Apeejay Pvt Ltd, up to Rs 84.7 crore by Apeejay House Pvt Ltd and Rs 34.9 crore by investor selling shareholders, according to the draft red herring prospectus (DRHP). The company proposes to utilise the net proceeds towards repayment/prepayment of certain borrowings availed and for general corporate purposes. The book running lead managers to the offer are ICICI Securities, Axis Capital and JM Financial. The shares of the company are proposed to be listed on the BSE and NSE. The company has presence in Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, Delhi-NCR as well as in other major cities such as Coimbatore, Jaipur, Jodhpur, Jammu, Navi Mumbai, Raipur and Visakhapatnam, the DRHP stated. The hospitality company has pioneered the concept of luxury boutique hotel in India under "THE PARK" brand. The company is part of the Apeejay Surrendra group, a leading Indian conglomerate. The group's business is spread across industries such as hospitality, shipping, tea, real estate, retail brands such as Oxford bookstores, and education. "The proceeds of the IPO will be used largely to retire debt and for meeting other regular operating expenses," Apeejay Surrendra Park Hotels MD Vijay Dewan had told reporters in Kolkata on the sidelines of an event last month. He had said the debt of the company is around Rs 450 crore. On new properties, Dewan said the company is setting up a 200-room hotel in Pune for which construction has already started. The Pune hotel will cost around Rs 160 crore and will be under the Park brand. Apeejay will also add 100 rooms at Vizag and another 80 rooms in Navi Mumbai. Dewan said the company will gradually move towards managing properties rather than owning them. The company has also taken over the Danish Tavern at Srirampur from the West Bengal government, he said. BJ RVK

Park Hotels gets regulatory go-ahead for IPO

New Delhi, Jan 1 () Apeejay Surrendra Park Hotels has filed draft papers with markets regulator Sebi for its proposed initial public offering to raise up to Rs 1,000 crore.
The IPO comprises a fresh issue of up to Rs 400 crore and an offer-for-sale (OFS) of up to Rs 600 crore.
The amount to be raised through OFS comprises up to Rs 125.4 crore by promoter selling shareholder, up to Rs 354.9 crore by Apeejay Pvt Ltd, up to Rs 84.7 crore by Apeejay House Pvt Ltd and Rs 34.9 crore by investor selling shareholders, according to the draft red herring prospectus (DRHP).
The company proposes to utilise the net proceeds towards repayment/prepayment of certain borrowings availed and for general corporate purposes.
 The book running lead managers to the offer are ICICI Securities, Axis Capital and JM Financial.
 The shares of the company are proposed to be listed on the BSE and NSE.
 The company has presence in Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, Delhi-NCR as well as in other major cities such as Coimbatore, Jaipur, Jodhpur, Jammu, Navi Mumbai, Raipur and Visakhapatnam, the DRHP stated.
 The hospitality company has pioneered the concept of luxury boutique hotel in India under "THE PARK" brand.
 The company is part of the Apeejay Surrendra group, a leading Indian conglomerate. 
 The group's business is spread across industries such as hospitality, shipping, tea, real estate, retail brands such as Oxford bookstores, and education. 
 SUM ANU
ANU
ANU

The Park Hotels files draft papers with Sebi for Rs 1,000 cr IPO

New Delhi, Jan 1 () Apeejay Surrendra Park Hotels has filed draft papers with markets regulator Sebi for its proposed initial public offering to raise up to Rs 1,000 crore.
The IPO comprises a fresh issue of up to Rs 400 crore and an offer-for-sale (OFS) of up to Rs 600 crore.
The amount to be raised through OFS comprises up to Rs 125.4 crore by promoter selling shareholder, up to Rs 354.9 crore by Apeejay Pvt Ltd, up to Rs 84.7 crore by Apeejay House Pvt Ltd and Rs 34.9 crore by investor selling shareholders, according to the draft red herring prospectus (DRHP).
The company proposes to utilise the net proceeds towards repayment/prepayment of certain borrowings availed and for general corporate purposes.
 The book running lead managers to the offer are ICICI Securities, Axis Capital and JM Financial.
 The shares of the company are proposed to be listed on the BSE and NSE.
 The company has presence in Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, Delhi-NCR as well as in other major cities such as Coimbatore, Jaipur, Jodhpur, Jammu, Navi Mumbai, Raipur and Visakhapatnam, the DRHP stated.
 The hospitality company has pioneered the concept of luxury boutique hotel in India under "THE PARK" brand.
 The company is part of the Apeejay Surrendra group, a leading Indian conglomerate. 
 The group's business is spread across industries such as hospitality, shipping, tea, real estate, retail brands such as Oxford bookstores, and education. 
 SUM ANU
ANU

You Searched For "navi drhp" and got 5 results

Four years later, Sachin Bansal is still battling eight lawsuits from his Flipkart days

Kritti Bhalla

''Apeejay Surrendra Park Hotels IPO float to retire debt''

PTI

Park Hotels gets regulatory go-ahead for IPO

PTI

The Park Hotels files draft papers with Sebi for Rs 1,000 cr IPO

PTI

Park Hotels files draft papers with Sebi for Rs 1,000 cr IPO

PTI

Popular Keywords

Buying Guides