India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
'Byju's founders reserve all rights to bring actions against those parties that have caused damage to them personally and to their businesses.' IMAGE: Byju's CEO Byju Raveendran's photograph on his company website, July 17, 2024. Photograph: Dado Ruvic/Illustration/Reuters The founders of embattled education technology (edtech) company Byju's are preparing legal action to seek at least $2.5 billion in damages from investors and lenders, whom they blame for harming their business and personal st
However, the NCLT did not pass the approval order on Thursday and deferred the decision, scheduling the next hearing for 6 December. It is expected that the tribunal will pass the liquidation order and may approve the CoC's proposed liquidator at that time. Venkatasubramanian is a Chartered Accountant and is registered as an Insolvency Professional with the Insolvency & Bankruptcy Board of India. He is a partner at Ernst & Young Restructuring, specializing in crisis stabilization, liquidity management, and the restructuring and turnaround of distressed companies. He is an expert in sectors su ...Read More >
New Delhi [India], January 8 (ANI): The upcoming union budget 2025-26 should focus on giving personal tax relief to common taxpayers by raising the basic exemption limit in the new tax regime from Rs 3 lakhs to Rs5 lakhs and reducing tax rates, suggests global consulting and professional services firm Ernst & Young India (EY India). EY India also asks for deferring tax deduction at source (TDS) on PF interest rate (above 2.5 lakhs) until the withdrawal stage to reduce compliance burden. In the previous budget TDS rate rationalization was undertaken to a certain extent. To further simplify th ...Read More >
New Delhi, June 8 (SocialNews.XYZ) The National Company Law Appellate Tribunal (NCLAT) has dismissed a plea filed by the Resolution Professional (RP) of the Think and Learn Private Limited (TLPL), the parent company of edtech firm Byju's, against an earlier order by the National Company Law Tribunal (NCLT). The NCLT had directed that the shareholding in Aakash Educational Services should remain unchanged until further hearings. A two-member bench of the NCLAT, comprising Justice Sharad Kumar Sharma and Jatindranath Swain, observed that the NCLT's direction was an interim, or interlocutory, o ...Read More >
Chandigarh, June 26 (UNI) The Shiromani Akali Dal today accused Punjab's Aam Aadmi Party (AAP) government of "violating the law" by registering a disproportionate assets case against senior SAD leader Bikram Singh Majithia without holding either a preliminary or regular probe. The SAD also charged the ruling AAP with indulging in "political vendetta to gag" Majithia as well as divert attention from the failure of its 'Yudh Nashean Virudh' drive. Addressing a press conference here, senior leaders Balwinder Singh Bhundar, Maheshinder Singh Grewal and Daljit Singh Cheema alleged the AAP governm ...Read More >
PATNA: Congress leader Rahul Gandhi is all set to embark on 'Vote Adhikar Yatra' from Bihar's Rohtas district on August 17 to register a protest against how the ongoing special intensive revision (SIR) of the electoral rolls was being conducted in the state. This comes at a time when the Opposition is ratcheting up its protest against the SIR and casting aspersions on the integrity of elections. AICC general secretary (organisation) and MP KC Venugopal held a meeting with the INDIA bloc leaders at Sasaram in Rohtas district on Wednesday and reviewed preparations for Rahul Gandhi's visit to Bi ...Read More >
According to the agreement, which was signed in December 2007, the firm was bound to deliver possession within 24 months of approval of service plans. The Supreme Court on Wednesday directed a real estate firm to refund over Rs 43 lakh to a plot buyer with 18 per cent interest. The top court enhanced the compensation originally ordered by the National Consumer Disputes Redressal Commission (NCDRC), which had fixed the rate at 9 percent on more than Rs 43 lakh to be paid by M/s Business Park Tow ...Read More >
New Delhi, Jun 27 (PTI) Union Labour Minister Mansukh Mandaviya on Friday announced renewal of a scheme to promote registration of employers and employees to expand Employees' State Insurance (ESI) coverage across India. Originally introduced in 2016, SPREE (Scheme to Promote Registration of Employers/Employees) has facilitated the registration of over 88,000 employers and 1.02 crore employees. The renewed SPREE will be open from July 1 to December 31, 2025, offering a one-time opportunity for unregistered employers and left-out workers, including contractual and temporary staff, to enrol un ...Read More >
New Delhi, Jul 5 (PTI) Test preparatory firm Aakash Educational Services has sent a legal notice to consultancy firm EY, its partners and officials, accusing them of advising rivals in conflict of interest and professional misconduct, the company said on Saturday. Aakash Educational Services Ltd (AESL) has alleged that EY was deeply involved in its financial operations since 2021, including advising on the proposed merger with Think & Learn Private Ltd, which owns the Byju's brand. Also Read | Bodoland Lottery Result Today, July 05, 2025: Assam State Lottery Sambad Saturday Lucky Draw Result ...Read More >
Ahmedabad, July 14 (PTI) The Gujarat High Court on Monday directed a man, facing contempt of court for attending a virtual court hearing while relieving himself on a toilet seat, to deposit Rs 1 lakh with the court's registry after observing that he was ready to tender an unconditional apology. The incident occurred on June 20 when Justice Nirzar S Desai was hearing a case. A video of the man soon went viral, prompting the high court to initiate suo motu contempt proceedings. On Monday, the division bench of Justices AS Supehia and RT Vachhani directed the man, identified as Samad Abdul Rehm ...Read More >
New Delhi, Aug 28 (PTI) India's gains from importing discounted Russian oil are estimated to be just USD 2.5 billion per annum, significantly lower than the previously speculated range of USD 10-25 billion, a research report said on Thursday. Stopping Russian oil imports would force India, the world's third-largest oil importer and consumer, to rely on limited alternatives, potentially driving global crude prices up to USD 100 per barrel amid rising demand and tight supply. "Benefit from Russian oil imports is way less than exaggerated media numbers," brokerage CLSA said in a report. While ...Read More >
* Ex-NCB officer Sameer Wankhede moves Delhi High Court over Aryan Khan's Ba***ds of Bollywood series * Wankhede, who arrested Aryan Khan on a false drugs charge in 2021, claims damages over his portryal * He has sought Rs 2 crore for alleged malicious depiction of himself and the federal anti-drugs body Did our AI summary help? Let us know. Switch To Beeps Mode New Delhi: Ex-Narcotics Bureau officer Sameer Wankhede - the centre of a massive row in October 2021 after he arrested Bollywood ...Read More >
New Delhi, Jul 5 (PTI) Test preparatory firm Aakash Educational Services has sent a legal notice to consultancy firm EY, its partners and officials, accusing them of advising rivals in conflict of interest and professional misconduct, the company said on Saturday. Aakash Educational Services Ltd (AESL) has alleged that EY was deeply involved in its financial operations since 2021, including advising on the proposed merger with Think & Learn Private Ltd, which owns the Byju's brand. The test preparatory firm said EY has been involved in the structuring and conversion of debentures into equity ...Read More >
New Delhi, Jul 15 (PTI) The Indian economy is expected to grow at 6.5 per cent in the current financial year, despite geo-political tensions and trade policy uncertainties, Economic Advisory Council to the Prime Minister (EAC-PM) Chairman S Mahendra Dev said on Tuesday. In an interview with PTI, Dev further said that domestic growth will be driven by low inflation, resulting from good monsoon and benign interest rate regime, triggered by three back-to-back rate cuts by the Reserve Bank of India. "There are significant global headwinds like the twin shocks of geo-political tensions and trade ...Read More >
Mumbai, July 19 (SocialNews.XYZ) Actor Harshvardhan Rane, who was last seen in 'The Miranda Brothers', is heaping praise on the recently released film 'Saiyaara', and its team. On Saturday, the actor took to the Stories section of his Instagram, and penned a special note for the film and its makers after it witnessed a stellar opening day. He wrote, "Another melodious example of a love story shattering all myths and formulas of the industry. Honest heart wrenching love story wins again in 2025! #Saiyaara". 'Saiyaara', which stars Aneet Padda, and marks the debut of Ahaan Panday, is helmed b ...Read More >
Chandigarh: Officials of Municipal Corporation Chandigarh have revealed that the top 20 property tax defaulters of the city are yet to clear dues of over Rs 190 crore, while property tax arrear cases worth Rs 62 crore are under litigation in the Punjab and Haryana high court. Citing different reasons, occupants of seven properties, out of the top 20, have challenged the MC's arrears amount, following which the authority failed to recover the amount from them. All these properties fall under the commercial category. As per official data of the Municipal Corporation, Chandigarh, commercial prope ...Read More >
New Delhi: The Supreme Court, on Friday, dismissed appeals challenging JSW Steel's Rs 19,700 crore resolution plan for Bhushan Power and Steel Limited (BPSL). This was in context to the Court's judgement of May 2, 2025, in which the bench of Justice Bela M Trivedi and Justice Satish Chandra Sharma had struck down JSW Steel's plan and ordered BPSL's liquidation under Article 142 of the Constitution. The bench had then held that the Committee of Creditors (CoC) had erred in approving the plan. JSW Steel, chosen as the successful resolution applicant in 2019, offered over Rs 19,000 crore to cr ...Read More >
NEW DELHI, India: Birkenstock is stepping up its efforts to protect its iconic sandals in India, as local legal representatives conducted court-ordered raids on factories suspected of producing fakes. The German shoemaker is pursuing legal action to counter growing counterfeit activity tied to its popular footwear. According to people familiar with the matter, court-appointed lawyers recently inspected several small-scale factories in India to seize suspected counterfeit Birkenstock products. The move comes after Birkenstock filed a trademark infringement lawsuit in the Delhi High Court in M ...Read More >
Mumbai: JSW Steel Ltd reported better-than-expected profit for the June quarter, driven by higher production and sales volume as well as lower cost of coking coal, a key ingredient. The steelmaker's first-quarter profit jumped to ₹2,209 crore from Rs.867 in the same quarter a year ago, according to the company's exchange filings. A key reason for this was improved steel prices, primarily due to the government's 12% safeguard duty to protect the industry from cheap steel imports from China. "Steel prices rose during the quarter, while sales volumes also picked up due to the ramp-up of the Vij ...Read More >
Justice Surya Kant highlighted delays in arbitration, undermining its intended swiftness, during the Delhi Arbitration Weekend. He stressed the need for quality, consistent arbitral awards to enhance India's global standing as a preferred arbitration seat. Justice Kant also emphasized the importance of independence, integrity, and minimal judicial intervention in the arbitration process. Supreme Court judge Justice Surya Kant on Sunday flagged the issue of delay in arbitration, saying what was o ...Read More >
New Delhi, Sep 27 (PTI) Independent Sugar Corporation, an Uganda-based Madhvani Group firm, has announced the completion of its acquisition of debt-ridden glass manufacturer Hindustan National Glass & Industries through the Insolvency and Bankruptcy Code process. On Friday, in a duly convened meeting of Hindustan National Glass & Industries Limited's (HNGIL) newly constituted board, the company formally recorded the conclusion of this transition, clearing the way for Independent Sugar Corporation Limited (INSCO) to assume full control. The acquisition is led by industrialists Kamlesh Madhvan ...Read More >
New Delhi, Sep 29 (PTI) The Sahara India Commercial Corporation Ltd (SICCL) has moved the Supreme Court seeking its permission to sell various properties, including Amby Valley in Maharashtra and Shahara Saher in Lucknow, to Adani Properties Private Limited. The plea, which was mentioned for hearing recently, would likely come up on October 14. Seeking the permission, the plea filed through advocate Gautam Awasthi, said, "..to outright sell various properties belonging to the Sahara Group to Adani Properties Private Limited, for the consideration and on the terms and conditions as set out in ...Read More >
Mumbai, Dec 18 (PTI) Private equity and venture capital (PE/VC) funds invested USD 4 billion in November, which was 156 per cent higher than the year-ago period but lower about 15 per cent compared with the preceding month, a report said on Wednesday. The month saw 87 deals -- 47 per cent higher than the 59 transactions in November 2023, as per the report by industry lobby grouping IVCA and consultancy firm EY. "While 2024 had started off on a strong note, geopolitical tensions, uncertainty over US elections outcome, and inflation weighed on the markets, as did the bid-ask spread between sel ...Read More >
Jammu- Jammu and Kashmir Chief Minister Omar Abdullah on Thursday reviewed the ongoing restoration work of the historic Mubarak Mandi complex, which was the power centre of the Dogra kings in Jammu, and stressed on enhancing its heritage appeal. The Mubarak Mandi Complex is one of Jammu's most significant architectural heritage sites and is envisioned as a comprehensive cultural centre, housing museums, conference venues and heritage hospitality services. Accompanied by Advisor Nasir Aslam Wani and MLA Yudhvir Sethi during the visit, the chief minister was briefed in detail on the multi-phas ...Read More >
Bengaluru: The Supreme Court recently came down heavily on speculative investors in real estate. Additionally, it said the real estate sector needs systemic reforms to infuse credibility. What prompted this? Mint explains. What did the Supreme Court ruling say? The Supreme Court issued a ruling on 12 September in response to a batch of appeals following a decision by the National Company Law Appellate Tribunal on a housing project in Greater Noida. Affirming NCLAT's ruling that termed the appellants in the case as 'speculative investors', the Supreme Court said speculative investors could de ...Read More >
Hyderabad: Chief Minister A Revanth Reddy on Thursday warned educational institutions that cases would be booked against them if drugs were found in their premises. The CM announced that the state's Anti-Narcotics Bureau would henceforth be known as Elite Action Group for Drug Law Enforcement (EAGLE) and was tasked with curbing the menace of narcotics in the state. Speaking at an event marking the International Day Against Drug Abuse and Illicit Trafficking 2025 at Shilpakala Vedika here, Reddy placed an onus on educational institutions to ensure their campuses were free of drugs. "It is the ...Read More >
Gurgaon: MCG additional commissioner Yash Jaluka directed bulk waste generators (BWG) across the city to ensure proper disposal of waste by private agencies who are assisting them. Giving these instructions in a meeting held on Friday, he said it is often observed that BWGs hand over their waste to private agencies, which only sort valuable items and dump the remaining waste on roads, drains, vacant land or public places. This, he said, not only affects cleanliness of the city but also poses a threat to public health."Under the Solid Waste Management Rules-2016, it is the legal and moral respo ...Read More >
New Delhi, July 15 (SocialNews.XYZ) Leader of the Opposition (LoP) in Lok Sabha Rahul Gandhi has spent much of the past decade navigating legal scrutiny in various defamation and corruption-related cases filed across Indian jurisdictions. While none of these have led to custodial detention, they have triggered waves of courtroom appearances, intermittent convictions, and frequent bail grants, underscoring both the scale of his rhetoric-driven confrontations and the judiciary's measured response. In one of the more recent developments, LoP Rahul Gandhi appeared before the MP-MLA Special Magis ...Read More >
Jammu, Jul 18 (PTI) Senior officials of the Jammu and Kashmir government reviewed the arrangements for the smooth conduct of the 13-day-long Budha Amarnath pilgrimage in Poonch district that will begin on July 28. Deputy Inspector General of Police Tejinder Singh reviewed security in Poonch and stressed ensuring the safety of the devotees. "The first batch will depart from the Bhagwati Nagar basecamp in Jammu on July 28, moving towards the Mandi tehsil in Poonch in a regulated convoy amid full security arrangements," a spokesperson said. Jammu Divisional Commissioner Ramesh Kumar and Inspec ...Read More >
Mumbai (Maharashtra) [India], August 14: Medulla Communications Pvt. Ltd., one of the world's most awarded healthcare-specialist advertising agencies, has announced the launch of its new hub in Singapore. With over 15 years of experience in solving complex healthcare challenges, Medulla is now looking to create a super-specialist category as the first digital healthcare advertising agency in Asia. New Hub to Deliver Scalable, Specialist Healthcare Marketing Solutions Across APAC. Also Read | New Cheque Clearing System: Banks To Clear Cheques Within Few Hours Starting October 4, Announces RBI. ...Read More >
New Delhi, Sep 26 (PTI) JSW Steel on Friday welcomed the Supreme Court's decision of upholding its resolution plan for Bhushan Power and Steel, saying the verdict has reinforced the integrity and sanctity of the Insolvency and Bankruptcy Code (IBC) Earlier, in the day, the Supreme Court upheld JSW Steel's Rs 19,700 crore resolution plan for debt-ridden Bhushan Power and Steel Limited (BPSL), bringing down curtains to a prolonged legal battle that spanned nearly eight years. A bench comprising Chief Justice B R Gavai and Justices Satish Chandra Sharma and K Vinod Chandran upheld the February 1 ...Read More >