INDIANORIGIN SURYADEVARA TO BECOME CFO OF GENERAL MOTORS

HOUSTON: Dhivya Suryadevara, an accomplished Indian-american chartered financial analyst, has been named the chief finance officer of the US’ largest automaker, General Motors, the first woman to get the position in the auto industry. Suryadevara, 39, currently the vice-president, corporate finance, will succeed Chuck Stevens, the GM’S present CFO, on September 1, the company said in a statement. Chennai-born Suryadevara will report to GM’S chief executive officer (CEO) Mary Barra, who has been head of the automaker since 2014 and the only woman to run an automobile company.

Tata Trusts puts trust in Airasia’s Venkataramanan

MUMBAI: Tata Trusts, one of India’s oldest philanthropic organisations, has denied the involvement of R. Venkataramanan, its managing trustee and a non-executive director on the board of beleaguered airline Airasia India Ltd, in the bribery investigation initiated by the Central Bureau of Investigation (CBI) on May 29, according to a statement released by the trust on Thursday. The trustees, at a meeting on Thursday, “categorically reiterated that the reported investigations have nothing whatsoever to do with the affairs of any of the Tata Trusts”, the statement added.

Ola’s losses widen to ₹4,898 crore in FY17

NEW DELHI: Ride hailing app Ola saw its losses widening to ₹4,897.8 crore, even though its total income grew 70% during FY2016-17 as compared to the previous fiscal, as per regulatory documents. Ola, which is locked in a bruising battle for market leadership in the Indian market against American rival Uber, had registered a loss of ₹3,147.9 crore in FY2015-16. During the same period, ANI Technologies—saw its consolidated total income rising over 70% to ₹1,380.7 crore as against ₹810.7 crore in FY2015-16, as per documents filed with Registrar of Companies (ROC).

Companies raise nearly ₹1,900 crore in April 2018

NEW DELHI: Fund mobilisation by Indian firms through issuance of shares to institutional investors dropped by 64% to nearly ₹1,900 crore during April 2018, in comparison to the year-ago period. During April 2017, the firms had mopped up ₹5,206.65 crore. As per the latest data available with the Sebi, the capital garnered by the listed companies through the qualified institutional placement (QIP) route stood at ₹1,862 crore in the first month of the financial year 2018-19. This is 64.24 per cent less than that raised in the corresponding month of the previous fiscal.

Fortis calls off SRL, Fortis Malar merger scheme

NEW DELHI: Fortis Healthcare has said it is withdrawing the scheme of amalgamation between Fortis Malar Hospitals and SRL due to delay in completion of the process and strong headwinds in the sector. “The entire process was expected to take 6-8 months, however, due to reasons beyond the company’s control, the process has taken over 19 months and is still not complete,” Fortis Healthcare said in a late night filing on Wednesday. The scheme is currently pending for approval with the NCLT, Chandigarh bench, it added.

COMPILED FROM MINT REPORTERS AND AGENCIES