Naib Subedar Chunni Lal is the only soldier awarded the Ashok Chakra, Vir Chakra and Sena Medal.
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Beauty and Personal Care (BPC) e-retailer Honasa Consumer's initial public offering (IPO) has failed to find backing from analysts due to the company's weak financial track record and expensive valuation. T Manish, research analyst at Samco Securities suggests avoiding the IPO as the company's financial performance does not inspire confidence. "The profit has been inconsistent and advertising and marketing expenses are incredibly high at around 40 per cent of the revenues.
'What has happened at Byju's is no surprise to anyone.'
'In India, the GenAI startup ecosystem is unfolding with remarkable speed, signalling a new era of technological advancement and investment opportunities.'
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.
More than 60 per cent of shareholders of edutech Byju's on Friday voted for removal of founder CEO Byju Raveendran and his family over alleged "mismanagement and failures" at what was once India's hottest tech startup, but the company dug in its heels, calling the voting done in the absence of founders as "invalid". Prosus - one of the six investors who had called the extraordinary general meeting (EGM) - in a statement said "shareholders unanimously passed all resolutions put forward for vote.
Three senior executives have resigned from Byju's at a time when the most valuable edtech company has been trying to address challenges such as due diligence issues, legal battles with lenders, challenges in raising fresh capital, and a markdown in its valuation by investors. Prathyusha Agarwal, the chief business officer of Byju's, has quit, according to sources. They said Himanshu Bajaj, business head of Byju's tuition centres, and Mukut Deepak, business head for Class 4 to 10, have also moved on.
'Considering Pai is putting his own personal money in Byju's, stakeholders in the company can look forward to more governance and transparency.'
'General Paddy was amongst the last line of generals who stood by his convictions and brooked no interference in matters which were his domain.' Lieutenant General Zameer Uddin Shah (retd) salutes his former chief who passed away on August 19.
Audit firm Deloitte has resigned as auditors of Byju's citing a delay in submission of financial statements while almost simultaneously three of the edtech firm's board members have quit in what is being seen as a deepening crisis at the decacorn. Deloitte Haskins & Sells, which was slated to audit Byju's until 2025, stepped down with "immediate effect" mid-term stating that "the financial statements of the company are long delayed. In a letter sent to the board of Think & Learn Pvt Ltd (known as Byju's), Deloitte said it has not been able to start an audit due to the delays and that will have a "significant impact" on its ability to "plan, design perform and complete" the audit as per standards.
The Indian startup ecosystem has lauded the inclusion of startups in the New Delhi Leaders' Declaration for the first time ever in the history of G20. Industry stakeholders say that the move will lead to easier access to capital, reduce regulatory hurdles, and may revive funding activity. The Declaration, through the Startup20 initiative, recognised startups as "natural engines of growth" and key to socio-economic transformation by driving innovation and creating employment.
'Byju's financials only reflect the core business. At a group level, they are experiencing substantial losses.'
Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
On its 250th birthday, the Survey of India will send 30 mountaineers, armed with the most modern equipment, to measure the height of Mount Everest.
However, he said the militant infrastructure across the Line of Control in Pakistan-occupied Kashmir was intact.
Prominent ones are Maruti's smoky Ciaz and Fiat's gorgeous Avventura.
Exasperated by the never-ending speculation around his retirement, India's limited overs captain Mahendra Singh Dhoni on Sunday said being questioned about it at every platform will not change his plan to continue playing for a "considerable period" of time. "If I say something one month or 15 days back, the answer does not change. It's irrespective of where I'm asking. The answer remains the same. It's as simple as what is your name and I will say MS Dhoni. It will remain the same for a considerable period of time unless you give me a new format," Dhoni told reporters here ahead of the team's departure for the Asia Cup T20 in Bangladesh. Dhoni, on Friday, made it clear that he was not retiring from international cricket anytime soon. The 34-year-old Dhoni had called time on his Test career in the middle of the away series against Australia in December 2014. "There will be questions, you send me letters or requisitions. If you have the freedom, it's not right to ask all types of questions. It's very important to judge everything as to what needs to be done, why it needs to be done "Because somebody has the platform to ask questions, it does not mean that you keep on asking the same questions. It's a world today where everything is covered by media," an irritated Dhoni said on the oft-repeated query of his retirement.
