A US bankruptcy court has reversed a $1 billion damages ruling against Byju Raveendran, according to a statement from the founders of Think and Learn Pvt Ltd - the parent firm of ed-tech platform Byju's.
Byju's founder Byju Raveendran is preparing to file a $2.5 billion damages claim, alongside new evidence in a US court that he says disproves GLAS Trust's allegations that $533 million in 'Alpha Funds' was diverted by the company's founders.
A US court's $1.07-billion default judgment against Byju Raveendran can't be enforced directly in India because the US isn't a "reciprocating territory." Creditors must file a new case in an Indian court.
Debtor alleges evidence from OCI Ltd shows funds were "round-tripped" to Byju Raveendran despite his earlier sworn statements -- claims Byju's founders strongly reject.
United States President Donald Trump said he could travel to India next year, emphasising that Indian Prime Minister Narendra Modi 'wants' him to visit while calling him a 'great man' and a friend.
The lawsuit has compensatory and punitive damages against the defendants for the wrongful deaths of four passengers on flight 171, US-based law firm The Lanier Law Firm said in a statement.
'Trump is not shy when he is frustrated with countries'
'Byju's founders reserve all rights to bring actions against those parties that have caused damage to them personally and to their businesses.'
US lenders on Tuesday said that the Delaware Supreme Court ruling has affirmed that Byju's defaulted on Term Loan B while the edtech firm asserted that it has no impact on legal proceedings going on in India. Byju's US-based lenders on Tuesday said the Delaware Supreme Court (SC) in its September 23 order affirmed the previous ruling by the Delaware Court of Chancery and said an event of default had occurred under the credit agreement and entitled Byju's lenders and their administrative agent, GLAS Trust, for action against the company.
IndiGo promoter Rakesh Gangwal's family trust on Thursday sold a 1.3 per cent stake in the country's largest airline for Rs 2,933 crore through open market transactions, cumulatively offloading shares worth Rs 14,497 crore so far this year. With the latest sale, the cumulative divestment by Rakesh Gangwal, along with his wife Shobha Gangwal and their family trust -- the Chinkerpoo Family Trust -- stood at Rs 39,532.79 crore, translating to around $4.51 billion.
The Quad Leaders' Summit this year was earlier supposed to be held in India, but US President Joe Biden was keen to hold the event in his hometown.
Mumbai-based pharma major Wockhardt, which is gearing up to launch its promising antibiotic candidate Zaynich soon, on Friday announced a shift in its United States (US) operations. The Indian pharma giant revealed that it has decided to exit the generics pharmaceutical segment in the country.
InterGlobe Aviation promoter Rakesh Gangwal and his family trust on Tuesday sold a 5.7 per cent stake in the airline for about Rs 11,385 crore ($1.33 billion) through a block deal, according to sources. Apart from Gangwal, the Chinkerpoo Family Trust, whose trustees are Shobha Gangwal and JP Morgan Trust Company of Delaware, has also participated in the transaction for divesting its stake in IndiGo, the country's largest airline, the sources said.
Putin is keen on establishing a good personal rapport with Trump and anchor a meaningful US-Russia partnership, realistic enough to accept that Trump is as good an American president as Russia would ever get, observes Ambassador M K Bhadrakumar.
Dr Jaishankar is expected to discuss the dates for the fifth Quad leaders' summit in India later this year.
The war and Modi's recent visit to Ukraine is expected to figure prominently in the bilateral meeting, according to US National Security Adviser Jake Sullivan.
Upon a presidential win, the USSS detail for a president-elect would get larger and mirror the size and scope of a President. Additional airspace security measures are also implemented, a source familiar with USSS protocols said.
Ever since the Quad started taking shape in 2007, China has been saying that the four-member grouping will be bound to fail. But much to the chagrin of Beijing, it picked up pace in the recent years emerging as a premier strategic group especially challenging China's assertiveness in the disputed South China Sea.
Troubled edtech firm Byju's founder Byju Raveendran on Thursday said that he is willing to pay back the entire money to lenders if they are willing to work with him. During a two-and-a-half-hour call with the media, Raveendran said that lenders will not get any money if the process of insolvency against the company continues. "If they are willing to work with me, I am willing to give them money back before I take a single rupee out.
Glimpses outside the White House, from Rehoboth Beach in Delaware, where he is recovering from COVID-19, and Times Square in Manhattan after US President Joe Biden announced he is stopping his bid for re-election.
This evening, President Biden spoke to former President Trump. The President also spoke to Pennsylvania Governor Josh Shapiro and Butler Mayor Bob Dandoy, the White House said.
Australian Prime Minister Anthony Albanese has said matters like the expulsion of 'spies' are raised 'privately', when asked if an incident involving Indian citizens will come up when he meets his counterpart Narendra Modi at the Quad summit.
Democratic presidential candidate Kamala Harris has distanced herself from a controversial comment made by her boss President Joe Biden, in which he referred to supporters of her Republican rival Donald Trump as 'garbage'.
The annual Quad summit at President Joe Biden's hometown Wilmington is expected to roll out a series of new initiatives to boost cooperation in the Indo-Pacific and explore ways to find peaceful solutions to the conflicts in Ukraine and Gaza.
The Quad has emerged as a key grouping to work for peace, progress, and prosperity in the Indo-Pacific region, Prime Minister Narendra Modi said on Saturday as he left for the United States on a three-day visit.
There was an awkward silence in the audience. A staff member finally pointed to the podium, leading to the introduction of Modi by the compere.
United States President Joe Biden was caught on a hot mic telling leaders of the Quad nations that China was testing them, thus reflecting upon the American seriousness of the emerging Chinese threat.
The announcement for the QUAD Caucus came from Congressman Ami Bera, Ranking Member of the House Foreign Affairs Indo-Pacific Subcommittee, Congressman Rob Wittman, and Senators Tammy Duckworth and Pete Ricketts, both members of the Senate Foreign Relations Committee.
This is the first time that the National Security Council has held a meeting with these Sikh activists and Sikh separatists.
'Are we to believe that coordinated moves by the Canadian and US authorities are no longer taking place?', asks Ambassador M K Bhadrakumar.
Trump made the announcement while campaigning in Michigan, but did not provide any further details of their meeting.
Prime Minister Narendra Modi will pay a three-day visit to the United States beginning September 21 to attend the annual Quad Summit and address the 'Summit of the Future' at the United Nations General Assembly.
Prime Minister Modi held separate talks with world leaders including his Nepalese counterpart K P Sharma Oli, and Palestinian President Mahmoud Abbas, discussing various facets of bilateral ties and reaffirmed India's support for the Palestinian people.
'Vice President Kamala Harris said Monday she had secured enough verbal commitments from delegates to the Democratic National Convention to clinch the party's presidential nomination with her home state of California putting her over the threshold less than two days into her presidential bid,' Politico posted on Tuesday morning.
'We condemn recent illicit missile launches in the region that violate UN Security Council resolutions. We express serious concern over recent dangerous and aggressive actions in the maritime domain. We seek a region where no country dominates and no country is dominated one where all countries are free from coercion, and can exercise their agency to determine their futures,' the declaration said.
PM Modi went to New York this time not to engage in polemics, but to find solutions to global problems. He made some progress on several matters, even on reform of the UN Security Council, when the US made a major concession for the first time that six permanent members without veto, including India, could be considered
He asserted that only the "Lord Almighty" could make him drop out of the race to win the November 5 election.
Prime Minister Narendra Modi has said that the Quad is not against anyone, but for a rules-based international order and respect for sovereignty, in a veiled reference to China.
Saturday's Quad meeting in Delaware is taking place against the backdrop of China's assertive behaviour in the South China Sea, its sabre-rattling in the Taiwan Strait and increasing footprints in the Pacific and Indian Ocean, asserts Rup Narayan Das.
Prime Minister Narendra Modi has held talks with Ukrainian President Volodymyr Zelenskyy and reiterated India's commitment for an early resolution of the conflict in Ukraine and the restoration of peace and stability in the region.
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