In addition to herbal hand sanitisers, the new personal care range will have hand wash, face wash, skin cream, hand cream and an instant surface cleaning spray among others.
For the low-profile Bhardwaj-Sharma family, selling off the ‘Sunrise’ brand that they had nurtured for more than 70 years was not an easy decision.
Post deal, the startup's valuation is being pegged at $ 2.5 million (approximately Rs 18.75 crore), said a press statement issued by the company. Self-funded so far through internal sources and through operations, the startup has been providing 100 plus skincare products since 2014.
The New Jersey-based health-tech startup plans to utilize the funds for customer acquisition, recruiting talent, scaling up operations in India and the US and ramping up technology to further digitalize physician engagement experience, said a press statement issued by the company.
The government on March 24 raised the threshold for invoking IBC proceedings to Rs 1 crore from Rs 1 lakh, to prevent triggering of insolvency cases against small and medium enterprises facing the brunt of the pandemic. On March 29, the IBBI decided to not include the lockdown period in any ongoing corporate insolvency resolution process.
The Indian real estate sector, which is currently worth USD 12 billion and contributing about five per cent to the GDP, has witnessed a drastic drop in sales with no clarity on revival due to social quarantining, says Indian Chamber of Commerce (ICC).
The relationship between India and Germany goes back centuries – not just economically but even culturally. Bilateral interactions between Indian prime minister Narendra Modi and Chancellor Merkel have lead to a reaffirmation of alignment along with technical and economic objectives.
The move is part of a stressed asset resolution plan that Simplex Infra management is working on.
United Bank of India (UBI), the leader of a consortium of 28 lenders, has identified Simplex Infra account as 'non-performing asset' (NPA) in the third quarter of FY20, people familiar with the matter said. Bank of India too marked Simplex Infra’s Rs 24.33 crore in working capital loan as NPA in February.
The lenders are currently evaluating the final binding offer and expect to take a final call before end-March 2020 so that the banks can comply with their provisioning norms as per central bank norms. The same investor is also working out the resolution plan of McNally Sayaji, a subsidiary of McNally Bharat, which will solve the problem of the entire infrastructure wing of the Williamson Magor group, the person said.
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