Future Retail’s lenders have petitioned India’s Supreme Court that the company’s assets should be auctioned after it missed payments. Future Retail is being pursued by Reliance Industries and Amazon.com Inc. They also stated that they have begun classifying loans to the country’s second-largest retailer as non-performing and that as a result of the non-payment, they […]

On Wednesday, Indian markets extended their post-budget bounce, with banking sectors leading gains as the government increased expenditure to put the economy on a more solid footing, albeit dismal reports from a few blue-chip companies restrained gains. The NSE Nifty 50 index rose 0.73 percent to 17,705.85, while the S&P BSE Sensex rose 0.76 percent

This year’s Union Budget will be paperless as well, to go green. By going paperless, the government will be able to reduce the amount of paper used to present tax proposals and financial statements. Except for a few hard copies, the Budget 2022 papers will be primarily available digitally. Members of Parliament (MPs) and the

While presenting the Union Budget, Finance Minister Nirmala Sitharaman announced the creation of a nationwide tele-mental health initiative for mental health counselling. The programme will be supported technologically by IIT Bangalore. She also stated that the National Digital Health Ecosystem will have an open platform. She explained, “It will include digital registries of health professionals

Google, a subsidiary of Alphabet Inc., will invest up to $1 billion in Bharti Airtel in a move that might help the Indian telecom operator’s digital capabilities, according to a BSE filing on Friday. According to the firms, the investment involves a USD 700 million equity investment in Airtel for 734 rupees (USD 9.77) per

Future Retail is running out of time, as the Kishore Biyani-backed retailer has filed a Supreme Court petition seeking an extension on the January 29 deadline to repay lenders Rs 3,500 crore in debt installments. Future, India’s second-largest retailer, has been unable to execute a USD 3.4 billion retail asset transfer to a competitor since

Hero FinCorp (HFCL), a consumer banking company, plans to raise Rs 2,000 crore from current and previous investors for business reasons. This capital raise round will see Hero MotoCorp (HMCL) invest Rs 700 crore. The investment will be made in HFCL’s CCPS (compulsorily convertible preference shares). According to Hero’s exchange statement, HMCL owned 41.2 percent

Swiggy, a food delivery service, revealed on Monday that it had secured $700 million in a new investment round headed by Atlanta-based Invesco. Several new investors joined the round, including Baron Capital Group, Sumeru Venture, IIFL AMC Late Stage Tech Fund, Kotak, Axis Growth Avenues AIF- I, and others, according to the business. The Bengaluru-based