COMPANIES & SECTORS


Byju’s is set to go down as the most spectacular corporate flameout. Little more than a year ago, India boasted five decacorns, an elite group of only 47 start-ups around the world valued at US$10bn (billion). Of these, the most valuable Indian decacorn was Byju’s. Despite a loss of Rs4,588...

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Moneylife Digital Team 26 February 2024
Passenger vehicle (PV) volume will ascend to a new peak for the third straight time next fiscal, growing 5%-7% on a high base of 6%-8% estimated for the current fiscal, as sport utility vehicles (SUVs) race ahead even as demand for cars and exports remains muted, says a research...

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IANS 26 February 2024
Credit rating agency S&P Global Ratings on Monday said semiconductor chip-makers must focus on managing their water resources as water security will be an important factor in their credit profiles.   As per the credit rating agency, climate change is testing the...

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IANS 26 February 2024
As the government expedites the inspection of financial books of embattled ed-tech major Byju's, the company said on Monday that it has responded with all necessary responses along with documents to the ministry of corporate affairs (MCA) and is hoping an early closure of the...

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The Indian economy is on a roll. Growing consistently post-pandemic, it drew the attention of the United Nations, World Bank, International Monetary Fund (IMF), global rating agencies, NITI Aayog and Reserve Bank of India (RBI) alike and they estimate that India would reach 6.5% growth by...

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IANS 23 February 2024
Edtech major Byju’s on Friday said that it has not received any formal intimation of any petition being filed in the National Company Law Tribunal (NCLT) by select investors over its rights issue.   Byju’s key investors -- Prosus, General Atlantic, Sofina and Peak XV -- have moved the...

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IANS 23 February 2024
The battle between Byju's and investors intensified after the edtech major said on Thursday that the company's co-founder and CEO Byju Raveendran and Board members will not attend the extraordinary general meeting (EGM) called by select investors on Friday.   Earlier in the day,...

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IANS 22 February 2024
Key investors in ed-tech major Byju's will go ahead with the extraordinary general meeting (EGM) on Friday for a vote to remove Byju Raveendran as the company's chief executive officer (CEO), amid a court order that any decision, taken during the EGM, "shall not be given effect to till the...

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IANS 22 February 2024
The Karnataka High Court on Wednesday ordered that any resolutions, proposed to be passed in the Friday meeting called by select Byju's investors to remove its founder Byju Raveendran as CEO and appoint a new board, are invalid until the final hearing and disposition of this...

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IANS 19 February 2024
Tech giant Apple grossed a whopping $1.65 trillion from iPhone sales in the past decade, a new report has revealed.   Last year, the tech giant shipped 235 million iPhones worldwide, while 35 per cent of all users owned the device, helping the company’s cumulative sales revenue hit...

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IANS 16 February 2024
Ministry of Corporate Affairs has operationalised the Central Processing Centre (CPC) for centralised processing of corporate filings without requiring any physical interaction with the stakeholders as part of the continuing reforms to provide ease of doing business.   The Ministry...

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IANS 16 February 2024
The Chairman and Managing Director of SpiceJet, and Busy Bee Airways Private Limited, have jointly submitted a bid for the cash-strapped GoFirst.   A SpiceJet airline official said that the bid has been submitted by Chairman and Managing Director Ajay Singh, in his personal capacity,...

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Moneylife Digital Team 15 February 2024
The national company law appellate tribunal, while staying an order passed by the Mumbai bench of the national company law tribunal (NCLT) to initiate a corporate insolvency resolution process (CIRP) against Sporta Technologies Pvt Ltd, the parent of Dream11 fantasy sports platform, has...

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Moneylife Digital Team 14 February 2024
The managing director (MD) of New Tirupur Area Development Corporation Ltd (NTADCL) is understood to have filed a complaint with the registrar of companies (RoC) at Coimbatore, seeking a directive to prevent nominee directors of Infrastructure Leasing & Financial Services (IL&FS)—its parent...

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IANS 14 February 2024
Ronnie Screwvala, serial investor and Co-founder/Chairperson of edtech platform upGrad, on Wednesday slammed Byju's and its Founder and CEO Byju Raveendran for the company’s downfall, saying that “one rotten apple” in the Indian edtech space should not affect the entire edtech...

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IANS 13 February 2024
Prime minister (PM) Narendra Modi on Tuesday launched the Rs75,000 crore rooftop solar scheme for providing free electricity to consumers.   PM Modi said, "In order to further sustainable development and people’s wellbeing, we are launching the PM Surya Ghar: Muft Bijli Yojana. This...

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IANS 13 February 2024
The Mumbai metropolitan region development authority (MMRDA) has got the green signal for its proposed connector for the Mumbai trans harbour link (MTHL) at Chirle which will be linked with the Mumbai-Pune Expressway, officials said in Mumbai on Tuesday.   The new Chirle connector,...

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IANS 09 February 2024
An IndiGo Airlines New Delhi-Mumbai flight returned to the Delhi airport early on Friday as some passengers complained of a stench inside the aircraft.   When some passengers who claimed they were almost choking, tried to find out from the crew, they were not given any replies and...

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IANS 08 February 2024
Online food delivery platform Swiggy said on Thursday that Mallika Srinivasan has stepped down from the company's Board as an Independent Director a year after joining.   According to the company, Srinivasan stepped down due to increasing business commitments.   "Reflecting on...

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IANS 07 February 2024
The Cricket Bat Manufacturers Association of Kashmir (CBMAK) has sued Sony Entertainment Television, Shark Tank India and Tramboo Sports for alleged business loss and mental agony.   Fawazul Kabir of the CBMAK told reporters that during an episode of Shark Tank India, aired on January...

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