 "BSE suspends Trafiksol IPO listing amid investor concerns over financial irregularities, following a complaint to market regulator Sebi.")
The Bombay Stock Exchange (BSE) has delayed the listing of Trafiksol ITS Technologies due to investor concerns about the company’s financial health and how it plans to use the IPO proceeds. The Rs 45-crore initial public offering attracted bids worth over Rs 10,000 crore, but issues such as frequent auditor resignations and questionable spending raised ...
 "BYJU’S faces a .2 billion lawsuit from lenders as founder disputes debt claims amid allegations of financial mismanagement.")
BYJU’S is facing legal challenges from US lenders represented by Glas Trust, who demand repayment of a $1.2 billion Term Loan B. The founder, Byju Raveendran, claims the company’s verified debt is only around Rs 20 crore, arguing this means he may not owe anything. However, the lenders insist that both Raveendran and the Insolvency ...
 "ICRA ESG assigns its inaugural ESG rating to InCred Financial Services, signaling a transformative step towards sustainable investment in India.")
ICRA ESG Ratings Limited has announced its first Environmental, Social, and Governance (ESG) rating for InCred Financial Services, a non-banking financial company. Recently registered as a Category-I ESG Rating Provider by SEBI, ICRA ESG aims to aid investors in understanding non-financial risks and opportunities. InCred received a rating of Impact 57, categorized as Moderate. This ...
 "SpiceJet’s shareholders approve raising ₹3,000 crore amid financial struggles, grounding of aircraft, and legal battles as shares surge.")
SpiceJet has received approval from its shareholders to raise up to Rs 3,000 crore through the issuance of securities. The airline, which is facing significant challenges including financial issues, legal disputes, and a reduced fleet, aims to use these funds to meet its various obligations. In a recent regulatory filing, SpiceJet confirmed that the capital ...
 "Amid financial turmoil, Paytm vows to regain profitability by focusing on core payments and leveraging AI for growth.")
Paytm, under the leadership of founder Vijay Shekhar Sharma, is focusing on its core payment services while aiming for profitability. Speaking at the annual meeting, Sharma emphasized a commitment to compliance and continuous improvement in business operations. Recently, Paytm faced challenges, including a reported loss of Rs 839 crore in the first quarter of FY25 ...
 "Gautam Adani pleads for 0 million payment from Bangladesh, highlighting significant investments and commitment to energy security amid financial strain.")
Gautam Adani, chairman of Adani Group, has reached out to Muhammad Yunus, the advisor to the Bangladesh government, to speed up the clearance of $800 million owed by the Bangladesh Power Development Board for electricity supplies. In his letter, Adani highlighted the urgency of the situation, emphasizing the need for regular payments while fulfilling supply ...
 "Shriram Finance plans to raise billion for business growth, anticipating a 15-16% loan increase this financial year.")
Y S Chakravarti, the MD and CEO of Shriram Finance, announced that the company plans to raise $1 billion (around Rs 8,300 crore) in the next six months to support its growth. This includes an initial $300 million targeted for October, with the remainder to follow as Market conditions allow. While Shriram Finance intends to ...
 "A doctor’s rape and murder sparks nationwide protests, leading to investigations into financial irregularities at the hospital.")
A postgraduate trainee doctor was tragically raped and murdered while on duty at RG Kar Medical College and Hospital, leading to widespread protests across the nation. Following this shocking incident, the West Bengal Medical Council issued a show-cause notice to Sandip Ghosh, the hospital’s principal, who has been arrested by the CBI for alleged financial ...
 "Former principal Sandip Ghosh arrested in CBI probe for financial misconduct at RG Kar hospital, amid nationwide protests following a tragic incident.")
The Central Bureau of Investigation (CBI) has arrested former RG Kar hospital principal Sandip Ghosh and several associates for alleged financial irregularities. The investigation reveals that Ghosh operated a criminal nexus, favoring vendors with contracts due to their connections, dating back to his tenure at the Murshidabad Medical College and Hospital from 2016 to 2018. ...
 "Household savings decline as borrowing rises, with a dramatic shift from deposits to diverse financial assets in India.")
A recent report by BCG reveals significant shifts in household finances in India over the past decade. While household deposits as a percentage of GDP dropped from 6.1% to 4.1% in 2023, borrowing increased from 3.3% to 5.8%. This trend shows that unsecured lending in India is now comparable to that in the United States. ...
