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
Piramal Enterprises Ltd. has received a GST demand notice of Rs 1,502 crore, including tax, interest and penalties, from the Deputy Commissioner of State Tax, Maharashtra. According to an exchange filing on Friday, the penalty component amounts to Rs 83 crore. The tax demand pertains to the company’s sale of its pharma business to Piramal
While US President Donald Trump announced the likely imposition of 25 per cent tariffs on imported pharmaceuticals, Kotak Institutional Equities (KIE) analysed the base and worst case scenarios in the event of the tariff hike. “In the backdrop of uncertainties around US tariffs on pharma, our base case is high tariffs (>10 per cent) are
India has been witnessing its fair share of business family feuds in recent times – from the Kalyanis and Modis to the Hinduja brothers, and now another marquee feud doing the rounds is between the real estate developers, the Lodha siblings. With the rivalry escalating, the mother of warring brothers – Abhishek and Abhinandan Lodha
Adani Green Energy Ltd (AGEL) on Friday announced that its wholly owned subsidiary, Adani Green Energy Twenty Five A Limited has operationalized a 275 MW of solar power project at Khavda, Gujarat. In a regulatory filing, the company said, “In furtherance to the intimation dated March 30, 2024 regarding operationalization of projects, Adani Green Energy
IT services major Tata Consultancy Services (TCS) is set to roll out its annual salary hikes for the fiscal year 2025 in March, with the average increases ranging between 4 per cent and 8 per cent, according to a report by Economic Times. The payouts, it added, are expected to start from April 2025. TCS
P Venkatesalu, managing director at Trent, which runs Westside, Zudio and Star Bazaar, believes the retail business is about constant change and staying relevant to the consumer. Venkatesulu, 47, who has been with Tata Group for over two decades and was elevated to the MD’s post in 2024, talks to Viveat Susan Pinto about how
Ikea India expects its sales in North India to grow at an above-normal pace over the next two years, driven by strong demand for home decoration and kitchen products. Bhavana Jaiswal, country e-commerce manager, and Jasmeet Sood, country home furnishing & retail design manager, discuss the company’s strategy, upcoming stores, and market outlook with Raghav
Edtech giant Physics Wallah has confidentially filed for an initial public offering (IPO) that could raise as much as $500 million, according to a report by IFR. The company in October 2024 said it might launch a $400-500-million IPO in 2025. If the public issue is launched, Physics Wallah will be the first pure-play edtech
Advance tax collections from the corporate sector, other firms and individuals in the current fiscal stood at Rs 10.45 lakh crore as on Sunday, up 14.6% on year. In the corresponding period of last fiscal, these collections — a proxy of corporate profitability and the state of the economy — stood at Rs 9.11 lakh
The four new companies formed after the restructuring of Vedanta have the potential to be $100 billion firms each, chairperson Anil Agarwal has said in a letter to shareholders. He has also highlighted the potential of the natural resources sector, both in India and global economies.“While Vedanta currently contributes close to 1.4% to India’s GDP, there
Fast-moving consumer goods (FMCG) companies are asking for a separate law to govern beauty and personal care (BPC) products, saying current regulations under the Drugs and Cosmetics Act 1940 impede growth. At present, the making of soaps, skin care, hair care, oral care and cosmetic products, much like drugs, is regulated under a system of
E-commerce major, Amazon, is exploring the possibility of spinning off its India operations and listing it, according to industry sources. The company, which is the second largest player in the e-commerce sector, behind Flipkart, has initiated preliminary talks with investment banks to assess the feasibility of such a move, sources added. According to a report
