Articles for tag: Battling, Crore, dues, Financial, Investor, Raise, Seeks, Significant, Skepticism, SpiceJet, Turmoil

Market News

Amid financial turmoil, SpiceJet seeks to raise Rs 3,000 crore, battling significant dues and investor skepticism.

Amid financial turmoil, SpiceJet seeks to raise Rs 3,000 crore, battling significant dues and investor skepticism.

SpiceJet, facing significant financial challenges with dues over Rs 601 crore, has successfully attracted interest for its Rs 3,000 crore share sale to qualified institutional buyers. The placement has reportedly been oversubscribed, drawing attention from various investors, including several family offices. The funds raised will be crucial for the airline to settle outstanding statutory liabilities, ...

Market News

Arvind Kejriwal resigns amid legal turmoil, as Atishi steps up to lead AAP’s fight for justice and re-election in Delhi.

Arvind Kejriwal resigns amid legal turmoil, as Atishi steps up to lead AAP’s fight for justice and re-election in Delhi.

Delhi Chief Minister Arvind Kejriwal resigned following his recent arrest over alleged irregularities in the city’s liquor policy. This move came after he declared his intention to seek “justice from the people’s court” through upcoming elections. Aam Aadmi Party’s Atishi has been appointed as the interim Chief Minister until the elections, which are expected in ...

Market News

Samsung faces turmoil as 104 striking workers are detained in India, demanding higher wages and union recognition amidst escalating tensions.

Samsung faces turmoil as 104 striking workers are detained in India, demanding higher wages and union recognition amidst escalating tensions.

Samsung is facing significant challenges as 104 workers were detained during a strike at its Chennai plant in southern India. The workers are demanding higher wages and recognition of their union, which is supported by the Centre of Indian Trade Unions. This strike, part of a week-long protest, disrupts production at a facility that contributes ...

Market News

Amid financial turmoil, Paytm vows to regain profitability by focusing on core payments and leveraging AI for growth.

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 ...

Market News

Amidst global turmoil, S Jaishankar forges new alliances with Germany, discussing security, trade, and evolving international dynamics.

Amidst global turmoil, S Jaishankar forges new alliances with Germany, discussing security, trade, and evolving international dynamics.

External Affairs Minister S. Jaishankar is currently in Germany as part of a three-nation tour. During his visit, he met Michael Roth, the chairman of the German Parliament’s Foreign Affairs Committee, to discuss global challenges and explore new avenues for collaboration between India and Germany. Jaishankar also engaged in a dynamic conversation with foreign policy ...

Market News

Byju’s faces turmoil as auditor BDO resigns amid insolvency, triggering a forensic audit, while the company’s value plunges dramatically.

Byju’s faces turmoil as auditor BDO resigns amid insolvency, triggering a forensic audit, while the company’s value plunges dramatically.

Byju’s, the Indian edtech giant, is facing significant challenges as its auditor, BDO Global, has resigned amid ongoing insolvency proceedings. The company claims it could not provide the requested documents because its board is currently suspended due to these proceedings. Byju’s has requested a forensic audit of BDO’s resignation, which was ordered by an insolvency ...

Market News

Byju’s faces turmoil as auditor BDO resigns amid insolvency, triggering a forensic audit, while the company’s value plunges dramatically.

Byju’s faces a $101 million tax claim amid $1.5 billion in creditor disputes, sparking turmoil for its thousands of employees.

Byju’s, once India’s leading ed-tech startup, is facing severe financial challenges, with Indian tax authorities claiming $101 million in dues as it enters insolvency. Valued at $22 billion in 2022, the company’s fortunes have plummeted due to regulatory issues and a dispute with U.S. lenders over $1 billion in unpaid debts. A court-appointed resolution professional ...

Market News

Delhi CM Arvind Kejriwal faces legal turmoil as the CBI’s arrest sparks a dramatic battle over corruption allegations in an excise policy scandal.

Delhi CM Arvind Kejriwal faces legal turmoil as the CBI’s arrest sparks a dramatic battle over corruption allegations in an excise policy scandal.

Delhi Chief Minister Arvind Kejriwal is seeking bail from the Supreme Court after being arrested by the CBI on June 26 related to an alleged excise policy scam. His lawyer argued that Kejriwal was not named in the CBI’s FIR and emphasized that he is not a flight risk, highlighting previous bail grants by the ...

Market News

India’s NIIF aims to raise  billion for infrastructure, marking a bold restart under new leadership after previous turmoil.

India’s NIIF aims to raise $4 billion for infrastructure, marking a bold restart under new leadership after previous turmoil.

The National Investment & Infrastructure Fund (NIIF) of India is planning to raise approximately $4 billion, aiming for its largest funding round yet. This initiative comes as part of the government’s effort to enhance the country’s infrastructure. The new fund is set to be significantly bigger than the last Master Fund, which concluded with $2.34 ...

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