Top 10 biz headlines: Investment data, Varun Beverages stock, and more

From Chanda Kochhar case to contempt plea against Anil Ambani, Business Standard brings you top 10 stories that made news on Wednesday

Investment data to be cleaned up after overstated jobs claims
 

A huge mismatch between the investment proposals of companies and the number of jobs that are really created from these investments, as opposed to the number that is projected, has prompted the government to consider a rejig of how it collects data on industrial investments. Read more here

Lenders to crisis-hit DHFL lay down conditions for promoters
 

Lenders to crisis-hit Dewan Housing Finance Corporation (DHFL), in the process of finalising a resolution plan, have discussed broad contours of a “binding agreement” that would lay down conditions for the promoters, led by Chairman and Managing Director Kapil Wadhawan. Read more here

Kochhar, Videocon companies had appointed dummy directors: ED probe
 

The Enforcement Directorate (ED), while probing the companies owned by former ICICI Bank chief Chanda Kochhar’s husband, Deepak Kochhar, and the Videocon group, has found these firms had appointed at least half a dozen “dummy” directors who had nothing to do with the core operations and decisions. Read more here

Dish TV promoters may cash out for Rs 5,000 cr, Bharti Airtel to pick stake
 

The promoters of direct-to-home (DTH) service provider Dish TV will be exiting the business by selling their stake to Airtel Digital TV, the DTH arm of telecom giant Bharti Airtel. Sources in the know said Bharti Airtel was likely to partner with private equity major Warburg Pincus and pay Rs 45-50 a share to the Goel family, the promoters of Dish TV, who would receive between Rs 4,800 crore and Rs 5,300 crore. Read more here

Asset monetisation: Sadbhav group engineers 1.7x return on investment
 

The much-awaited monetisation of assets has taken place at Sadbhav group. Sadbhav Infrastructure Projects (SIPL), a subsidiary of Sadbhav Engineering (SEL), will sell nine operational road projects to IndInfravit Trust, which will provide the funds needed for deleveraging. This will also help it infuse equity, fund new projects, and boost new order wins. Read more here

Ramp-up in capacity to keep fizz intact for Varun Beverages stock
 

Strong earnings visibility after the acquisition of PepsciCo India’s franchise rights has helped the Varun Beverages (Varun) stock gain about 20 per cent in the last six months, sharply outperforming the Nifty FMCG index. The latter lost 1 per cent during the same period. Read more here

NCLAT reserves order on admission of contempt plea against Anil Ambani
 

The National Company Law Appellate Tribunal (NCLAT) on Wednesday reserved its order whether the contempt proceedings should be initiated against Reliance Communication (RCom) Chairman Anil Ambani and his officials for failing to pay minority investors such as HSBC Daisy Investments (Mauritius). HSBC Daisy had moved the appellate tribunal over alleged default of payment of Rs 230 crore by Reliance Infratel and stated that the company has not fulfilled an undertaking given by it. Read more here

Reliance Jio partners Facebook for countrywide literacy drive 
 

Reliance Jio Infocomm has partnered with US social media giant, Facebook Inc, to launch a countrywide digital literacy drive, christened, Digital Udaan, for its growing base of JioPhone users and other first-time internet users, reports The Economic Times. 

Televisions worth Rs 7,224 crore imported in 2018-19
 

Televisions worth Rs 7,224 crore were imported in 2018-19, with more than half of such imports coming from China, according to government data, reports Business Today.

Amid defaults, corporate bond markets brace for Rs 5 trillion refinancing
 

Are you an AAA-rated issuer? You can now only get a toehold at the investor’s table for your corporate bond, reports LiveMint.