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Paytm receives show cause notice for alleged FEMA violations

Paytm has been issued a show cause notice by the Enforcement Directorate (ED) for alleged violations of the Foreign Exchange Management Act (FEMA), the company revealed on Saturday. The notice pertains to irregularities in the acquisition of two subsidiaries—Little Internet Private Limited and Nearbuy India Private Limited—between 2015 and 2019, according to Paytm’s statement. Reassuring

‘Need smaller stores to boost reach’ : Sankar Chatterjee

French sports good retailer Decathlon has identified India as a priority market, where it has an annual revenue of Rs 4,000 crore, growing at over 35% per annum. The double-digit growth prompted Decathlon to announce an investment of nearly Rs 1,000 crore in India in August, which will be done over the next five years. Sankar

India, EU to conclude FTA this year

India and the European Union on Friday decided to conclude their much-awaited Free Trade Agreement (FTA) by the end of 2025,  and finalised a blueprint for increased collaboration in broad range of areas such as trade, mobility, technology and investment. “We have directed our teams to conclude a mutually beneficial Bilateral Free Trade Agreement by

Lucas TVS arm to enter battery cell manufacturing

TVS Indeon, a wholly-owned subsidiary of automotive electrical component manufacturer Lucas TVS, is set to enter battery cell manufacturing for the mobility segment and energy storage solutions, a senior company official said.“Currently, we are only offering battery packaging solutions. The next step is to enter battery cell manufacturing,” said TK Balaji, chairman and managing director

Versuni to take made-in-India portfolio to 90% in 2 years

Versuni India, earlier known as Philips Domestic Appliances, is aiming to manufacture 90% of its portfolio domestically, up from 70% currently, in the next two years, a top official said.  “When I say made in India, it is conceptualised in India, developed in India and then manufactured in India,” Gulbahar Taurani, MD and CEO, Versuni

Adani Green hits 12000 MW milestone; says its first to reach the mark

Adani Green Energy (AGEL), the renewable energy arm of the Adani Group, on Friday announced that it has surpassed a record 12,000 megawatts (MW) of operational capacity. The company claims to be the first and only renewable energy firm in India to achieve this milestone. Sumant Sinha-led ReNew is the second-largest renewable energy company in

US court rules against Byju’ in $533 million fraud case

A US bankruptcy court has ruled against Byju’s Alpha, Inc and its affiliates in a case involving the fraudulent transfer of $533 million. Judge John T Dorsey of the Delaware Bankruptcy Court issued a summary judgment against key defendants, including Riju Raveendran, Camshaft Capital Fund, LP, and Think & Learn (T&L), which operates as Byju’s.

Byju Raveendran breaks silence alleges collusion between Glas Trust, EY India & IRP

Byju Raveendran, the founder of troubled edtech firm, Byju’s, has spoken out for the first time in months, addressing the company’s financial crisis and legal battles in a LinkedIn post. He directly accused Glas Trust, the trustee for Byju’s US lenders, and the interim resolution professional (IRP) overseeing the company, of actively harming rather than
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New NPS guidelines issued! Officials told to process like OPS – All you need to know

The Central Pension Accounting Office (CPAO) has issued new guidelines to ensure timely pension to retired employees of the National Pension System (NPS). In an Office Memorandum (OM) issued on March 12, 2025, the CPAO has reminded the concerned officials that NPS pension cases should be processed in the same manner as the Old Pension

Sukanya Samriddhi Yojana to Mutual Fund SIP, best investment options for your child

Securing your children’s financial future is one of the most important responsibilities of a parent. From education and marriage to other key life expenses, your growing children will need financial support at different stages. To ensure they have the necessary funds when required, it’s essential to diversify your investments across different schemes. In India, several

India sees record deal activity in February at $7.2 billion

India witnessed a record-breaking surge in deal activity in February, with 226 M&A and private equity deals totaling USD 7.2 billion — the highest monthly deal volume in the last three years, according to the Dealtracker report of Grant Thornton Bharat. “This represents a 67 per cent increase in volumes and a 5.4-fold increase in

Replace Chinese goods with US imports – govt tells industry amidst Trump’s tariff threat

Amid concerns over potential export disruptions due to US reciprocal tariffs set to take effect on April 2, the Ministry of Commerce and Industry has urged Indian industry players to explore areas where imports from China and other countries could be substituted with goods sourced from the United States, according to executives familiar with the

China fund managers face 50% pay cut for poor performance — Here’s what’s changing

Fund managers in China may see a major blow to their salaries. If they do not meet the set performance standards, their salaries can be cut by up to 50%. This decision is part of a comprehensive reform in the country’s 33 trillion yuan ($4.6 trillion) mutual fund industry. According to a Bloomberg report, the