VENTURE CAPITAL POST

AirAsia India’s head Mittu Chandilya is confirmed to soon leave the airline. The decision emerged after he previously expressed disfavour on the micro-management practiced by the airline’s parent company in Malaysia. His successor is yet to be decided, but it’s likely to be an executive from the parent airline.

Bitcoin startup company, Abra, recently announced that it is set to launch in the United States and the Philippines after getting $12 million in Series A Round funding from investors, including the American Express and Ratan Tata, the chairman emeritus of Tata Sons.

Ratan Tata, chairman emeritus of the holding company of India's Tata conglomerate, has acquired a stake in Xiaomi Technology [XTC.UL], a deal that is likely to bolster the Chinese phone maker's presence in the world's third-largest smartphone market.

The Foreign Investment Promotion Board provides approval Tata-SIA venture.

The government regulatory agency FIFB pushed back review of necessary approvals for the SIA-Tata Sons airline deal.

According to a spokesperson for Tata Sons, the group had comprehensively addressed all questions from all probing government agencies regarding the 2007 deal between Tata and Unitech.

The influx of major global airlines moved the Indian government to review its existing requirements for airlines to be allowed to fly international routes.

A memorandum of understanding was finalized between Tata Group and Singapore Airlines leading the way to the formation of a new airline to service the Indian market.

Tata Sons limits liability in airline joint venture.