In move to cut debt at Anil Agarwal group, India's largest private miner Vedanta Ltd will absorb which oil firm in a USD 2.3 billion all-share deal to create India's largest diversified natural resources company?: Cairn India
Explanation: The board of Cairn India and Vedanta Ltd approved the merger on Sunday as part of which minority shareholders of Cairn India will get an equity share in Vedanta Ltd and a redeemable preference share in Vedanta Ltd with a face value of Rs 10 for each equity share held in Cairn India. The swap ratio implies a premium of 7.3% to Friday's close of Cairn India at Rs 181. Vedanta, previously known as Sesa Sterlite Ltd, in 2013 consolidated its iron ore mining business by merging Sesa Goa Ltd with Sterlite Industries (India) Ltd, which ran copper and aluminium businesses. The merger is the second step in the series that started in 2013 towards simplification of the corporate structure. Thus Vedanta will use Rs 16,867 crore cash lying with Cairn to pay off part of its Rs 77,752 crore debt. Post-merger, London-listed parent Vedanta Resources Plc's holding in Vedanta Ltd will drop to 50.1 percent from 62.9 percent. Therefore, this merger will help Cairn spread its risk from volatile oil business to other metals and commodities.
Google Inc said on 12 June 2015 that it is launching a live streaming gaming service against the rival Amazon.com Inc`s Twitch service. What is the name of Service?: "YouTube Gaming"
Explanation: The service, which will be available in the form of an app as well as a website, will focus exclusively on gamers and gaming. More than 25,000 games will each have their own page on the site, bringing videos and live streams about various titles together in a single space. Users will be able to add games to their collection for quick access, subscribe to channels, and receive recommendations on new games based on the games and channels they follow. YouTube Gaming will available on the web, mobiles and tablets on both Android and iOS operating systems, according to a tweet from its official account.
Which enforcement agency on 11 June 2015 have written to eBay Inc and PayPal Inc this week, saying the companies` revised user policies "raise issues" under consumer protection laws?: New York law enforcement officials
Explanation: Ebay`s updated user agreement is scheduled to take effect on Monday and PayPal`s will become effective on July 1. Consumer choice and privacy preferences are protected by state and federal laws — including laws that specifically aim to stop companies from using invasive robocalls to promote products to consumers who do not wish to receive them," Melissa Grace, a spokeswoman for New York Attorney General Eric Schneiderman notified.
On 11 June 2015, Domestic mobile phone makers Celkon and Micromax notified that they will set up manufacturing facilities in which Indian state?: Telanagana
Explanation: While, Celkon is all set to open its unit next week, Micromax is in planning stage. Celkon was one of the early movers in envisioning a manufacturing unit in the country and has been actively pursuing the state and centre to bring about a supportive ecosystem that can enable handset manufacturing.
India’s first lesbian ad goes viral on 10 June 2015 which has received 2 lakh hits in just 10 days. Which company has luanched this ad?:Myntra
Explanation: The Title of ad is “The Visit” goes viral on youtube when 2 lakh hits was received in 10 mere days. The country's first advertisement showing a lesbian couple preparing to meet the parents is making waves on social media. The online video shows two women in a live-in relationship flirting and dressing up for the day, chatting about the expectations they face and their love for each other. However, according to Myntra, they tried to avoid the stereotypes associated with gay people. The ad was launched keeping the fact that Lesbians around the world have been in the news, they are getting married and fighting for their rights. This is what society sees, same-sex couples living happily, and there is a huge audience that accepts this.
In step towards consolidation in the multiplex business, PVR ltd on 9 June 2015 acquired which entity for Rs 500 crore on a slump sale basis?: DLF's 'DT Cinemas'
Explanation: DT Cinemas, the wholly-owned subsidiary of realty giant DLF, has 29 screens with a seating capacity of more than 6,000, while PVR Cinemas has 467 screens in 105 properties in 43 cities. On 9 June 2015, The board of directors of the PVR at its meeting has approved acquisition of the cinema exhibition business of DLF Utilities ltd. After this proposed acquisition, PVR will have a presence in 44 cities with 115 multiplexes and 506 screens. I n December 2014, Carnival Group acquired Big Cinemas from Anil Ambani-led Reliance Group for an estimated Rs 700 crore, the biggest ever in this sector. In July 2014, Inox Leisure acquired Gurgaon-based rival Satyam Cineplexes in a Rs 182-crore deal to strengthen its presence in North India.
In association with Saudi Arabia-based Manahil International Company on 9 June 2015 which Indian company has opened one of the Gulf's largest automobile showroom and service facilities in the kingdom's capital?: TATA Motors
Explanation: A unit of Mohamed Yousuf Naghi and Brothers Group (MYNG), Manahil International is the sole authorised distributor of India-based Tata Motors in the kingdom. The facility in the Saudi capital is said to be one of the largest in the Gulf Cooperation Council (GCC) countries and a statement of commitment from Tata Motors and Manahil International in expanding their base in the kingdom. Established in 1981, GCC is a political and economic alliance of six Middle Eastern countries which include - Saudi Arabia, Kuwait, the UAE, Qatar, Bahrain, and Oman.
In a landmark ruling, the National Consumer Disputes Redressal Commission (NCDRC) on 8 June 2015 asked real estate major Unitech to pay buyers compensation at the rate of what percentage for delay in delivery of flats, overruling the builder-buyer agreement that had set the rate at 1.8% per annum?: 12% per annum
Explanation: The NCDRC order came in a case filed by 24 buyers of a housing project, Vistas, in Sector 70 of Gurgaon. The buyers alleged that they had booked the flats in 2009-10 and delivery was promised in 36 months. However, the NCDRC also ruled that any delay beyond the new deadline promised would draw a compensation of 18% per annum. In order to ensure that the opposite parties honour the revised date of delivery of possession, compensation in the form of interest at a rate higher than 12% per annum should be paid by the developer if the revised date of delivery of possession is not honoured.
According to research firm Gartner, which Indian handset maker ranks among the top 10 global handset vendors with 1.8 per cent market share during the January-March quarter?: Micromax
Explanation: Global smartphones sales to end-users witnessed 19.3 per cent increase to 336 million units during the first quarter of 2015, led by strong growth in emerging markets (excluding China). The total sales (features and smartphones) for Micromax was stood at 460.3 million units during the first quarter of 2015, a 2.5 per cent increase from the year-ago period while the Korean firm Samsung led by tally with 21.3 per cent share, followed by Apple (13.1 per cent), Microsoft (7.2 per cent), LG (4.3 per cent) and Lenovo (4.2 per cent).
FMCG player Emami on 2 June 215 announced acquisition of which ayurvedic hair and scalp care brand for Rs 1,651 crore in its foray into the fast-growing haircare segment?: Kesh King
Explanation: Kesh King brand, introduced in 2009 by Sanjeev Juneja, offers products such as oil, herbal shampoo and conditioner and ayurvedic capsules. The brand has presence in 5.4 lakh outlets across India and had a turnover of around Rs 300 crore in 2014-15.
Emami has been acquiring brands domestically and internationally to wade into new product categories. Earlier this year, the FMCG major acquired a controlling stake in Australia-based Fravin Pty, along with its three subsidiaries for an undisclosed sum. The company also acquired Zandu brand in 2008 for Rs 700 crore. Fravin Pty manufactures natural and organic personal care products. Last year, it acquired sanitary-napkin brand 'She Comfort' from Royal Hygiene Care in an undisclosed all-cash deal to enter into the Rs 2,100-crore women's hygiene segment dominated by Procter & Gamble and Johnson & Johnson.
