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In its fight against short-seller Hindenburg Research, Gautam Adani has hired Wachtell, one of the most expensive law firms in the United States. Wachtell. Adani Group hired the services of senior lawyers Wachtell, Lipton, Rosen and Katz as it looks to stem the crisis that emerged from Hindenburg’s damning report that alleged that the conglomerate […]
Gautam Adani faced a margin call of more than $500mn on a $1.1bn share-backed loan, prompting the Indian tycoon to repay the whole debt, according to four people with direct knowledge of the matter. Rather than post cash against the loan, which did not mature until September 2024, the Adani Group’s founder and his family […]
As the October-December 2022 quarter results for the digital company Zomato approach, expectations are high to see if the meal delivery platform will follow in the footsteps of competitors like Paytm who achieved operating profitability in Q3. According to various brokerages, Zomato is predicted to experience a 68% increase in operational revenue YoY. However, losses […]
If you have a business idea, you should consider registering it with the Shark Tank India Audition 2023. The best part about registering is that it allows you to seek financial and legal assistance from India’s Big Investors. Shark Tank Season 2 of India premiered on Sony Entertainment Television on January 2. The startup reality […]
Microsoft, Meta, Google, Twitter, and now Disney. Layoffs have become a common occurrence in giant firms. The tech industry especially is rocked by job cuts, with the Walt Disney company terminating the services of 7,000 employees. The move, it’s reported, is aimed at saving $5.5 billion in costs and making its operations profitable. It’s estimated that […]
The market value of Google’s parent company’s shares dropped by more than $100 billion on Wednesday as a result of the Bard chatbot advertisement providing incorrect information and the AI search event’s lack of information regarding how it will respond to Microsoft’s ChatGPT challenge, according to analysts. The mistake in Google’s advertising, which aired on […]
Zoom Video Communications announced it was laying off 1,300 employees, or 15% of its workforce, in order to “weather the economic environment” on Tuesday. Zoom CEO Eric Yuan issued a company-wide email in which he admitted responsibility for the errors that resulted in the layoffs and said that he would forgo his corporate bonus and […]
Adani Group Chairperson Gautam Adani is back on Forbes’ list of the top 20 richest people in the world after some of his group firms’ share prices increased. Adani’s wealth increased by $1.2 billion to $60.6 billion on Tuesday, moving him up to the 17th spot on Forbes’ list of the world’s richest people. The […]
In the recent episode of Shark Tank India Season 2, shark Amit Jain, co-founder and CEO of CarDekho Group, was willing to offer Rs 5 crore for 10 per cent equity in an online job platform called ‘Unstop’ that was pitched by Ankit Aggarwal. Unstop is a completely self-funded startup that has created an online […]
Entrepreneurs are the lifeblood of any nation’s economy. With uninhibited thinking, they turn seemingly weird ideas into business plans. India is rapidly emerging as the hub of entrepreneurial activities, as could be gauged by flourishing startups. The country is home to over 85 unicorns and the valuation, estimated at $87.89 billion recently, is set to […]
The IT sector has had some ups and downs in recent months as a result of numerous corporations’ decisions to terminate large numbers of staff. Thousands of workers were let go by Meta, Microsoft, Twitter, Google, Philips, and Wipro. The troubles for technicians are far from the end, and the labour market is incredibly unpredictable, […]
Businesses have been instructed by Twitter to pay $1,000 per month in order to keep their gold badges; those that fail to do so will see their check marks removed. The Information says that the Elon Musk-led company, which is actively monetizing its platform through a variety of channels, would also charge an additional $50 […]
The sharks of Shark Tank were stunned as they came across a pitcher who had just turned 18. Shreyaan Daga, the owner of a skill development company, impressed them impressed with his entrepreneurial journey but also got a standing ovation from Aman Gupta. He is the co-founder of OnlineLiveLearning (OLL), a platform that offers classes […]
Adani Enterprises has cancelled its Follow-On Public Offering (FPO) and will refund money to its investors. The decision comes in the midst of ongoing controversy after American short seller Hindenburg Research accused the firm of utilising tax havens and raised debt concerns in a report. Adani Enterprises said in an exchange filing, “The Board of […]
Central government proposed to extend income tax benefits to startups incorporated till March 2024. Finance Minister Nirmala Sitharaman said that the government proposes to increase the benefit of carrying forward losses for startups to 10 years. Sitharaman said ‘I propose to extend the date of incorporation for income tax benefits to startups from March 31, […]
Finance Minister Nirmala Sitharaman made five significant announcements regarding personal income tax to help the hard-working middle class. Although the new tax system would be the default, taxpayers could choose the previous one instead. In the new tax system, Sitharaman suggested increasing the rebate cap from Rs. 5 lakh to Rs. 7 lakh. Therefore, up […]
The Indian government presented its Union Budget 2023 on Thursday, with Finance Minister Nirmala Sitharaman announcing significant changes to the income tax regime and increased allocations for health, education, and rural projects. The budget aims to reduce the fiscal deficit while supporting an economy affected by the global slowdown. In a move aimed at providing […]
The Rs 20,000 crore share sale of Adani group’s flagship firm was fully subscribed on Tuesday after non-retail investors bid in big volumes, according to stock exchange data. As many as 4.62 crore shares were sought as against an offer of 4.55 crore. According to BSE data, Non-institutional investors put in bids for over three […]
Finance Minister Nirmala Sitharaman tabled the Economic Survey 2022–23 in the Lok Sabha on Tuesday. According to the Economic Survey, the economy has nearly recovered what was lost, restarted what had stalled, and re-energized what had slowed during the pandemic. India is the third-largest economy in the world in PPP (purchasing power parity) terms, the […]
International Holding Company (ADX: IHC), the diversified Abu Dhabi-based conglomerate, announced today that it would invest AED 1.4 billion (USD 400 million) through its subsidiary Green Transmission Investment Holding RSC Limited in the Adani Enterprises Further Public Offering (FPO), the Indian multinational publicly listed holding company and a part of Adani Group. IHC’s first investment […]
