Byju’s interim resolution professional Pankaj Shrivastava has convened a committee of creditors meeting to vote on a permanent resolution professional. Glas Trust Company, holding 99.41% voting rights, can pass its preferred nominee. Previous resolution decisions were criticized by NCLT, leading to potential disciplinary action and Misconduct investigation, amid insolvency proceedings involving dues owed to BCCI.
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The US Department of Justice's indictment of Gautam Adani over corruption allegations risks straining India-US relations, potentially weakening Western alliances against China's influence. The charges may compromise significant economic partnerships, strategically disadvantaging the US while bolstering its competitors.
Credit rating upgrades have continued to outpace downgrades in FY25, though at a slower pace compared to FY24. ICRA remains positive due to factors like tax relief and improved credit availability, while others like CareEdge and Crisil also see stability despite global headwinds.
Commerce and industry minister Piyush Goyal states that India's free trade agreements are now finalized after extensive consultations with all stakeholders, offering equitable terms. Highlighting the EFTA pact with a $100 billion FDI commitment, he contrasts current deals with past practices, emphasizing national interests and growth in exports.
The Nasdaq tumbled 2.7 percent early Monday due to the emergence of DeepSeek, a low-cost Chinese generative AI venture, challenging US tech companies. Major AI players like Nvidia, Meta, and Microsoft saw significant stock drops as investors reevaluate the competitive landscape and investment outlook.
Bank credit and deposit growth in India slowed in the October-December quarter of 2024. Notably, personal loans and credit to key sectors saw a decline, while public sector lending picked up. Term deposits grew significantly, driven by higher interest rates and large-value deposits.
Apple plans to invest $500 billion in the U.S. over the next four years. This investment will include constructing a large factory in Texas for AI servers and adding 20,000 research and development jobs. This move comes amid tariffs on products assembled in China, with the company securing waivers previously.
NCLT has ordered the liquidation of GoAir after lenders' request as the airline, grounded since May 2023, failed to revive under insolvency laws. GoAir owes over Rs 6,521 crore to creditors like Central Bank of India and Deutsche Bank. Starting operations in 2005, it joins the list of defunct Indian airlines including Air Deccan and Kingfisher.
Jefferies recommends a 10-12% increase in government capex in the 2025-26 Union Budget to maintain infrastructure development and boost stakeholder confidence. Despite a 16% rise in FY25 capex, actual spending lagged, requiring a 32% surge in the remaining months of FY25. Defence spending is projected to grow at a 7-8% CAGR, driven by domestic manufacturing and exports.
Murata Manufacturing Co. is considering shifting some production to India due to growing demand and business continuity. They plan to begin capacitor packaging and distribution there by fiscal 2026, addressing infrastructure limitations while leveraging local workforce benefits and future incentives.
Tata Motors' shares have dropped 44%, losing Rs 1.9 lakh crore in market value. This decline is mainly due to weak demand for Jaguar Land Rover, especially in China, the UK, and the EU. Analysts suggest this correction could be a buying opportunity, urging long-term investors to consider potential recovery despite ongoing macroeconomic challenges.