With investors asking for a change in the board structure at Byju's, the edtech giant's founder and chief executive officer (CEO), Byju Raveendran, is now asking them to put $300 million into the company for more control. The company has rung up $5.8 billion from investors such as General Atlantic, Sofina, the Qatar Investment Authority, Sumeru Ventures, Vitruvian Partners, BlackRock, Chan Zuckerberg Initiative, Sequoia, Silver Lake, Bond Capital, Tencent, and Tiger Global.
Shareholders' demand list included from providing ABCD (appreciation, bonus, cash & dividend) security to making pepper spray.
The government on Tuesday announced setting up of hubs to promote exports through e-commerce medium in public-private-partnership (PPP) mode and initially 10-15 hubs will be established. Finance Minister Nirmala Sitharaman said that these hubs, under a seamless regulatory and logistic framework, will facilitate trade and export-related services under one roof. "To enable MSMEs (micro, small and medium enterprises) and traditional artisans to sell their products in international markets, e-commerce export hubs will be set up in PPP mode," she said.
In a conversation with Business Standard after an eventful annual general meeting of Kingfisher, he clears the air on many aspects.
State-owned Indian Oil Corporation said it has earmarked Rs 43,250 crore for capacity expansion over the next five-year period. This was announced by the company's Chairman S Behuria at its annual general meeting in Mumbai
'If you look at where inflation (headline and core) is today in India and where the rates are, there's clearly room to cut rates.'
The hospitality industry has around 212,000 rooms, with an industry size of about Rs 82,000 crore. The industry could grow at an annual rate of 10.5 per cent for the next three financial years, despite a quiet Q1FY25. The demand will be driven by domestic travellers, who will contribute roughly 50 per cent of the growth, while foreign tourists will account for 30 per cent.
Fearing legal repercussions, N Srinivasan refrained from staging a comeback as Board of Control for Cricket in India president but attended the Board's working committee meeting which decided to have its crucial Annual General Meeting on September 29 in Chennai.
Russian energy giant Rosneft has appointed a former Indian Oil Corporation (IOC) director to its board in signs it may be looking at boosting trade links with India. G K Satish, who retired as director for business development at IOC in 2021, is one of the three new faces appointed to the 11-strong board of directors of Rosneft, according to a statement issued by the Russian firm. Satish, 62, is the first Indian to be appointed to the board of Rosneft.
There is nothing to be worried about as bilateral ties are robust with solid foundations. Both are on the same page on the economic and defence/security ties bilaterally and globally and that shall continue irrespective of change in political dispensation in either country, points out Dr Rajaram Panda.
Less than a week after closing an acquisition, Premji tells investors firm will continue to look at buyouts.
Realising that rising prices had brought the Congress down in the Assembly elections, Gandhi flagged tackling inflation, including the food part, as top priority.
BCCI President Anurag Thakur will continue as India's representative in the International Cricket Council.
Anil Khanna was on Saturday elevated to the post of president of All India Tennis Association (AITA) replacing Yashwant Singh who stepped down after 12 years at the helm.
Addressing shareholders at the 31st annual general meeting, which started after observing a minute's silence in memory of slain general manager Awanish Kumar Dev, Maruti Suzuki India chairman R C Bhargava said that security cover at Manesar plant will continue till its staff feels secure.
The T20 World Cup is slated to be held in India in October-November 2021.
BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.
The fight between Madhu Kapur, widow of bank's co-founder Ashok Kapur, and current Managing Director and CEO Rana Kapoor is not about money.
According to a top BCCI official, Tendulkar and Laxman who both had resigned in July will resume their roles in the CAC.
Maruti will launch its first electric vehicle (EV) in the next financial year (FY24), and will roll out six EVs in the country by FY30, the automaker's parent firm Suzuki said on Thursday.
The RBI on Thursday filed an application for initiation of Corporate Insolvency Resolution Process (CIRP) against debt-ridden Reliance Capital at the Mumbai bench of the National Company Law Tribunal. The Reserve Bank had on November 29 superseded the board of Anil Ambani-promoted Reliance Capital Ltd (RCL) in view of payment defaults and serious governance issues. The central bank had also appointed Nageswar Rao Y (former executive director, Bank of Maharashtra) as the administrator of the company.
Gandhi was especially excited when CII requested him to present the Women's Exemplars award.
In his first interaction with India Inc, Rahul Gandhi said the politics of alienating communities is affecting growth.
The Indian Women's Hockey Team midfielder Salima Tete was honoured with the AHF Emerging Player of the Year Award.
Current secretary Ajay Shirke is all set to be elected unopposed at the 87th Annual General Meeting of the BCCI scheduled to be held on Wednesday. In fact a senior BCCI functionary confirmed that Shirke's was the only nomination for the secretary's post. "His (Shirke) was the only nomination received today (Tuesday)," the official told PTI.
In the interest of the people and welfare of the state, Pawar is always available for guidance and suggestions to whoever is in power, he said.
Indian television industry is estimated to grow at a compound annual growth rate of 13-15 per cent and reach about $11.45 billion by 2014, a top industry official said.
The franchise owners Kochi Tuskers Kerala are planning to take legal action against the BCCI after the BCCI terminated the Indian Premier League side's contract at its Annual General Meeting on Monday.
We will now get CAG to do the audit for the last 3-4 years, says the secretary.
Ranjit Sen has taken over as the new president of Indo-American Chamber of Commerce.
Barely 17 days before the Board of Control for Cricket in India's annual general meeting, the Bihar Cricket Association (BCA) led by Rashtriya Janata Dal president Lalu Prasad Yadav is embroiled in a controversy with its rebel group unilaterally electing a president and a general secretary on Sunday.
The stock exchanges have raised various concerns mainly about two UB Group firms -- Kingfisher Airlines and United Spirits -- for not providing required disclosures and not adhering to deadline regarding finacial results and the annual general meeting.
She urges them to vote against majority of resolutions at AGM.
He is expected to spell out his vision for economic growth of the country at the CII's Annual General Meeting.
Congress Vice President Rahul Gandhi on Thursday delivered his much-awaited speech at the annual general meeting at the Confederation of Indian Industry.
The Athletics Federation of India on Sunday suspended as many as 15 of its units for not holding state meets and not following the AFI calendar.
Secretary XI beats President XI in friendly on eve of AGM meeting.
The long-standing tussle between the Mumbai Cricket Association and Cricket Club of India, both affiliated units of the Board of Control for Cricket in India, came to the fore at last Sunday's Annual General Meeting of the Board following a suggestion to allot international matches directly to CCI.
Under-fire BCCI president N Srinivasan on Saturday continued to remain defiant by stating that no one could stop him from seeking an year's extension in the upcoming annual general meeting despite the chargesheet against his son-in-law Gurunath Meiyappan for betting during the Indian Premier League.
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