'Chup karo! Doh bacchon ki maa hain woh!! Ha ha.'
India and the US are expected to have smooth trade negotiations after US President Donald Trump and Indian Prime Minister Narendra Modi had a productive meeting during Modi's visit to the White House last month, Stephen A Schwarzman, chairman, chief executive officer, and co-founder of one of the world's largest alternative investment firms, Blackstone Group, said in Mumbai on Wednesday.
Walmart-owned digital payments firm PhonePe has decided to halt its proposed acquisition of Goldman Sachs- and Xiaomi-backed ZestMoney, a Bengaluru-based buy now, pay later (BNPL) platform. The deal, which was poised to fetch anywhere between $150-200 million and $300 million, has hit a snag over lapses in due diligence, disagreements over valuation, sustainability of the business, and shareholding structure of ZestMoney, according to people familiar with the matter. The collapse of the deal is also being attributed to a slowdown in the financial technology (fintech) sector in the midst of a funding winter, difficult regulatory environment, and macroeconomic uncertainty, informed other sources.
Astronaut Shubhanshu Shukla concludes his 18-day stay at the International Space Station, praising India's ambition, confidence, and pride as seen from space. He echoes Rakesh Sharma's iconic words and expresses gratitude to all involved in the Axiom-4 mission.
Valuations at current levels have historically corresponded single-digit returns.
In the hottest sector of AI, where most global VC funding is going currently, the country's record has not been anything to write home about.
Modi's high praise of Russia as an ally and Putin's leadership came amid ongoing efforts by the Western world to isolate the Russian leader over the war in Ukraine.
'Twenty-five years ago, loyalists of the same (then undivided) political party stormed into my office.' 'They vandalised it, physically assaulted me, blackened my face, and forced me to apologise publicly -- by falling at the feet of an elderly woman -- for a single line of dialogue in my film.'
Anurag Kashyap has expressed his frustration over the release issues faced by Ananth Mahadevan's biographical drama Phule.
'We realised that partnering with a strong local player like the JSW Group would create far greater value than going it alone.'
Film folk make memories on Holi and show the world how they celebrated the festival of colours.
Fintech firm BharatPe on Wednesday said it has removed co-founder Ashneer Grover from all positions at the company. BharatPe has also found involvement of Grover family and relatives in extensive misappropriation of the company's funds. "The board will not allow the deplorable conduct of the Grover family to tarnish BharatPe' s reputation or that of its hard-working employees and world-class technology.
42 years of World Cup triumph: A Day that made Indian cricket what it is
Harbhajan Singh's comment on Jofra Archer's expensive spell drew accusations of racial insensitivity.
Kareena has been a leading lady now for 25 years, Deepika for almost two decades and Alia for over a decade. Dinesh Raheja chronicles the changing ways Bollywood has treated actor-moms.
With Bharatpe's co-founder Ashneer Grover launching an offensive against the firm's investors after facing a probe over alleged fraud, abrasive behaviour and corporate governance issues, the company on Friday said questioning the integrity of board members and misrepresentation of facts is painful. "The (company) board in all its actions has followed due process in the best interest of the company. We would urge that the confidentiality and integrity of the governance review and board meetings is maintained by all," BharatPe said in a statement. The statement followed Grover, who was sent on a three-month leave following allegations of using abusive language against Kotak Mahindra Bank staff and for fraudulent practices, reportedly saying he was "arm-twisted" by the company's investors into going on leave and that he had lost confidence in CEO Sameer Suhail.
Global private equity investor Advent International on Monday said it is acquiring a significant stake in Suven Pharmaceuticals from its promoters, the Jasti family. The PE major said this will be followed with an open offer to acquire 26 per cent more in the listed contract development and manufacturing organisation from public shareholders, and also merge the company with investee company Cohance Lifesciences, as per an official statement. Media reports on a Monday morning pegged the acquisition at Rs 6,300 crore, and that Advent had pipped rival Blackstone for the acquisition.
'During a match, there is a lot of noise from the stadium -- cheers for sixes and fours -- but the batter focuses on the ball, not the pressure.' 'If you don't take pressure and focus on your duty, you can overcome stress easily.'
'The company's transition from an individuals-driven private firm to a board-driven listed public one will be carried out in a well-thought-through and well-executed manner.'
Police on Tuesday said they have started recording statements of people associated with the controversial Veera Sathidar memorial programme held on May 13 in Nagpur, where the poem was recited, while an official informed investigation into the case was at a sensitive stage.
Shares worth over Rs 50,000 crore (or approximately $6 billion) are set to become freely tradable between now and April 10. Historically, such substantial volumes have been absorbed by a buoyant block-deal market.
Upping the ante, fintech unicorn BharatPe has filed an arbitration for clawing back it's former MD and co-founder Ashneer Grover's restricted shareholding and founder title, sources said. The arbitration was filed on Thursday under Singapore International Arbitration Centre (SIAC) rules, sources with direct knowledge of the matter said. If relief is granted, Grover may lose his unvested shares and right to use the founder title.
'Banking is a business of trust.'
A suspended police sub-inspector from Beed, Maharashtra, India, has alleged that he was offered money to carry out an "encounter" of Walmik Karad, an accused in the murder case of sarpanch Santosh Deshmukh. The suspended cop, Ranjeet Kasle, claims he mentioned the names of the individuals who made the offer in a local police station diary. However, a senior police official from Beed has dismissed Kasle's claims as baseless and demanded proof. Kasle was suspended earlier while serving as a sub-inspector in the local cyber crime department. Deshmukh, the sarpanch of Massajog village, was abducted and killed last December allegedly for attempting to stop extortion targeting an energy company. Karad is among eight individuals arrested in connection with the murder and charged under the Maharashtra Control of Organised Crime Act (MCOCA). The state Crime Investigation Department (CID) filed a chargesheet in the case last month. Kasle's claims come amidst ongoing investigations into the custodial death of Badlapur sexual assault case accused Akshay Shinde. Kasle has demanded a central government SIT to investigate Shinde's death, believing it will reveal the truth.
Private equity investments into domestic companies fell sharply year-on-year by 42 per cent to $23.3 billion in 2022, which is the lowest since 2019, when it was $15.8 billion, according to an industry report. The numbers reflect the overall funding winter that the startup space in particular, and the overall foreign investments in general have been witnessing since the Ukraine war began last February. Private equity investment inflows into the country fell by a sharp 42 per cent in 2022 from last year to $23.3 billion -- the lowest annual inflows since 2019 when it was a low $15.8 billion, but still relatively elevated compared to historical levels, said Elaine Tan, a senior analyst at Refinitiv, the LSEG business arm that provides financial markets data and insights.
Census exercise with caste enumeration will be carried out with the reference date of October 1, 2026, in snow-bound areas like Ladakh and of March 1, 2027, in the rest of the country, the Home Ministry announced on Wednesday.
The board meeting is scheduled to be held on Tuesday to discuss the PwC report findings on Grover's conduct. There have been allegations of financial irregularities against him. According to sources, Grover in his resignation letter said that he is being forced to bid adieu to a company of which he is a founder. Grover alleged in the letter that he and his family have been embroiled in baseless and targeted attacks by a few individuals, who are ready to not only harm his reputation, but also the reputation of the company. Queries sent to Grover did not elicit any immediate reply.
The bills that repeal and replace the Indian Penal Code, Code of Criminal Procedure and the Indian Evidence Act will usher in a new era in the criminal justice system, Home Minister Amit Shah said
Haldiram has entered into an agreement with Temasek as part of which the Singapore-headquartered global investment firm will "acquire an equity stake from the existing shareholders" of India's largest packed snack and sweets company and restaurant operator, according to a statement issued on Sunday. It did not disclose details of the deal or the valuation at which Temasek acquired the equity stake, but this is the first official confirmation of the deal from Haldiram.
An audit conducted by professional services firm Alvarez and Marsal confirms fintech firm's dealings with fake or non-existent vendors.
With regulatory uncertainties clouding the future of online pharmacies, deals in the space are showing signs of slowdown, as also fresh investment from private-equity (PE) firms and venture capitalists (VCs). The data from Venture Intelligence shows so far in 2023 (as of June 13) there has been one deal with PE-VC funding. In 2022 there were four, a sharp fall from the 12, totalling $1,520 million, the sector had attracted in 2021.
Private equity and venture capital funds' investment in the country continued to fall in May, with the overall values declining by nearly 44 per cent to $3.5 billion, a report said on Monday. The dedicated funds had invested $6.2 billion in May 2022 and $7.4 billion in the preceding month of April 2023, representing a dip of 44 per cent and 52 per cent, respectively, as per the report by industry lobby IVCA and consultancy firm EY. "Despite a recovery of sorts being seen in tech sector indices and some of the large global tech names, sentiment in India for tech sector investments has been lacklustre, and fundraising by Indian startups has been sluggish," the firm's partner Vivek Soni said.
A passenger shot the video of the railway worker throwing railway garbage out of the train and posted it online.
'Eat well, rest well; keep improving; and go play, unplug.'
IT and ITeS companies accounted for $28.1 billion of the total investment pie during the first nine months of 2021.
Priyansh, a 24-year-old southpaw from Delhi, made a stunning debut for the Punjab Kings, smashing a 39-ball century in his first IPL game.
Private equity investments in proptech firms rose 35 per cent to $741 million last year as investors sought to tap huge opportunities amid rising use of technology in the realty sector, Housing.com said. Proptech firms that are providing solution in sales and marketing, and construction management got 69 per cent of the total funds. Inflow of funds into proptech firms stood at $551 million in 2020. Between 2009 and 2021, the proptech players in India received a total of $3.2 billion Private Equity(PE) investments.
Payments startup BharatPe on Tuesday said it has terminated several employees and vendors as well as filed criminal cases against them for misconduct besides deciding to claw back former founder Ashneer Grover's restricted shares in the firm. The steps have been taken by the company's board following a detailed corporate governance review against the backdrop of alleged lapses and misdoings during the tenure of Grover as managing director. IPO-hopeful BharatPe, which allows shop owners to make digital payments through QR codes, has implemented a new code of conduct for senior management and employees and brought in a comprehensive vendor procurement policy to avoid a repeat of alleged lapses that happened when Grover was managing director.
More than 30 technology startups, collectively valued at $100 billion, are poised to go public by 2027, signalling a potential rebound in India's stock market activity, according to a report by investment bank The Rainmaker Group. Walmart-owned Flipkart, financial technology (fintech) leader PhonePe, SoftBank-backed Lenskart, Razorpay, Zetwerk, and Meesho are among the top companies preparing to go public in India.
