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.
The target was for banks to sell Rs 2 trillion worth of non-performing assets to NARCL, the so-called 'bad bank, by 2021-2022. Only 10 per cent of this has been executed.
The watchdog would provide an additional option to the existing pricing methodology for preferential issuances.
The umpires will carry out an inspection of the Clyedesdale Cricket Ground at 6.30 pm IST.
The Indian government sources said Muizzu, in the meeting, brought up the issue of Indian military personnel present in the Maldives for operating aircraft for medical evacuation and to counter drug trafficking.
Vice Chief of Army Staff Lt Gen Sarath Chand had told the parliamentary panel that inadequate allocation of funds in the defence budget for 2018-19 will hit the army's modernisation plan.
After a year's delay due to COVID-19, the 19th Asian Games officially opens in Hangzhou on Saturday with hosts China eager to lift a country mired in economic gloom.
The developers, Reliance Sea Link One Pvt Ltd -- a joint venture between the Anil Dhirubhai Ambani group's Reliance Infrastructure and Hyundai Engineering -- is ready with the financial closure for the project after MSRDC submitted a no-objection certificate from its bond holders to the joint venture company.
PE funds say they have enough money to buy two or three of the indebted companies and the issue is not cash but the management bandwidth to turn them around.
A mass fan following or a large number of views on a YouTube channel can't possibly constitute 'credentials'.
The main Opposition BNP of former premier Khaleda Zia, 78, who is under house arrest, is boycotting the elections amidst violence.
While govt has decided to maintain status quo, don't use the money for house, marriage or education
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The market regulator is wielding an unprecedented level of control over how mutual funds operate, delaying new launches and dictating investment strategy, frustrated insiders in the embattled industry say.
The introduction of GST would constitute India's biggest reform.
Most of these projects were launched between 2008 and 2010
Almost half the overall projects costing at least Rs 150 crore (Rs 1.5 billion) are facing a time lag as on March 31. Of 558 projects, 272 were running late when FY13 came to an end, official data showed.
Vedanta group chairman, Anil Agarwal, 69, is well known for his business journey from a scrap dealer from Bihar to a London-based globe-girdling metal and oil and gas conglomerate with revenues of $19 billion. Now his abilities to keep his group from over-leveraging itself will be put to the test. Over the years, Agarwal, now based in London, set up the conglomerate via acquiring iron ore producer Sesa Goa, Cairn's oil producing assets in India, and Electrosteel Steel.
Laws in several states are inconsistent with the model Bill passed by Parliament.
Speaking at a felicitation function for the Commonwealth Games medal winners in New Delhi, Rathore said there was no dearth of money in Indian sports but the funds will have to be used for justified purposes by both the athletes as well as the federations.
Embattled Adani group has appointed accountancy firm Grant Thornton for an independent audit of some of its companies in a bid to come clean of the damning allegations levelled by the US short-seller Hindenburg Research and to assure investors and regulators. Sources said the audit is primarily to show to regulators like the Reserve Bank of India (RBI) that the group has nothing to hide and it is in compliance with relevant laws. The audit will specifically look into if there was any misappropriation or repatriation of funds and if loans were used for any purpose other than the one they were intended for.
Sebi has decided to lay out strict timelines for completion of actions.
The much-delayed Foreign Trade Policy (FTP), which will roll out steps to boost exports, is expected to be unveiled soon.
'If Chandrayaan 1 had a launch with GSLV, we need not have an orbiter for Chandrayaan 2.' 'We could have gone straight round the moon and landed on the moon.'
The Trump administration has accused WHO of taking side with China in the coronavirus outbreak that has brought America's economy to a standstill.
ICC announced equal prize money for men's and women's teams at ICC events while also making changes to the over-rate sanctions in Test cricket.
Employees of Go First, which has filed for bankruptcy, hope that the airline will fly out of the crisis with government support but some are already scouting for work. Some Go First pilots have joined airlines in West Asia in recent weeks and others have approached IndiGo, India's largest domestic airline. Calls to IndiGo's human resources and operations department increased after Go First said on Tuesday it will suspend flights for three days starting May 3, sources said.
News of all that transpired on and off the cricket field
Over 2,000 couples sign up, with the first payments expected on August 15. We ask readers what they think of the initiative.
Barcelona were so keen to bring Neymar back from Paris St Germain that the players were ready to accept delays to salary payments in order for the club to afford the Brazilian
'They have got the advisory council, a CEO has been appointed finally, and they have made some headway on the term loan B.'
The United States has delayed the release of 'war on terror' funds for Pakistan amid reports that Washington has threatened to cut off civil and military aid to Islamabad.
'Once elected, you have to act like people's representative for the full five years or else people show you your place.'
Raising the issue of "drone strikes" and delay in payment of coalition support fund, Pakistani President Asif Ali Zardari, in his meeting with United States Secretary of State Hillary Clinton, has called for addressing the issue of trust deficit between the two nations.
The US president had in past expressed dismay with the $2.3 trillion package that Congress passed Monday, which includes $900 billion in coronavirus relief and $1.4 trillion to fund the government until October, conflating the two bills and saying the spending goals were misguided.
S&P Global Ratings on Tuesday said there will not be any significant direct financial spillover risks because of the problems being faced by the Adani group, though there can be some secondary impact such as banks undertaking extra due diligence while giving loans to corporate. S&P senior director (infrastructure & utilities ratings), Abhishek Dangra said as per external estimates, the exposure of the banking sector to Adani group companies is less than 1 per cent and also the credit ratings of the firms are not at 'distress level'.
Except for September quarter, which had net inflows of $196 million, all other quarters had outflows.
Modi wants the BJP to gets an additional 10% of the vote share from what it won in 2019. Plans are afoot to get new faces to replace MPs with poor chances of winning. Sources say more than 100 MPs are like to be axed, notes Modi biographer Ramesh Menon.
