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SpiceJet has successfully made a $1.5 million payment to Credit Suisse, meeting its obligation following a Supreme Court directive. 

The court had recently issued a stern warning to SpiceJet's Chairman and MD, Ajay Singh, for failing to fulfil payments to Credit Suisse AG, even hinting at the possibility of jail time for non-compliance.

This payment by SpiceJet signifies a critical step in resolving the dispute, but it raises questions about the airline's financial stability and ongoing legal challenges.

To know why Airline industries are always struggling, click here.
 

NavIC (Navigation with Indian Constellation), the Made-In-India navigation system, would be mandated by the government for all smartphones by December 2025.

MeitY minister Rajeev Chandrasekhar said that the smartphones could either give support for NavIC-powered chips or use NavIC chipsets. NavIC is currently used in some mobile devices, cars, and by the Indian military.  

Tech giant Apple supports the NavIC protocol by including it in several iPhone15 models.

Know what other actions MeitY is undertaking for the benefit and security of Indian citizens by reading this article.

Classic Legends, backed by Mahindra & Mahindra, is set to invest ₹1,000 crore by FY26. 

The aim is to make a mark in India's mid-weight lifestyle motorcycle market and cater to the growing demand abroad. 

The funds will go into various areas like product development, marketing, distribution networks for global markets, and more. This financial boost will come from internal sources, existing stakeholders, and external investors.

Is this the road to Classic Legends' triumph in the world of classic motorcycles?

Click here to read about another automobile company that was in news recently.
 

Isha Ambani-headed Reliance Retail is planning a $3.5 billion fundraising in which $1.25 billion by Qatar Investment Authority and $250 million by KKR is collected. Now, they are looking for a fresh $1.5 billion infusion.

Along with the investors, parent conglomerate Reliance Industries Ltd. will also contribute to this investment.

This investment will raise Reliance Retail’s valuation. Looks like competitors will have to crane their necks further to lock eyes with Reliance Retail.🤔

RIL’s retail unit is not the only one with robust future plans. Read here what Reliance Industries has in store for the next step in world domination.

Byju's is once again in the spotlight amid allegations that it concealed $533 million in a little-known hedge fund from three years ago. 

Lenders seeking to recover the funds are at the centre of this dispute, claiming that this money serves as collateral for a $1.2 billion loan. 

According to Bloomberg, Byju's reportedly transferred over half a billion dollars to the Camshaft Capital Fund in 2022.

Is this a strategic move or a potential financial pitfall for Byju's?

For all the details about the company, click here.
 

TP Solar, subsidiary of Tata Power Renewable Energy is securing ₹3,521 crore from the US International Development Finance Corporation (DFC) for a new 4.3 GW solar manufacturing plant in Tamil Nadu, India. 

Tata Power aims to become a customer-focused energy solutions company, investing in solar modules, EV chargers, and energy management solutions. 

This venture is set to generate jobs for approximately 2,000 individuals.

Is this the turning point in Tata Power's journey towards sustainable energy dominance? 🧐

Curious about Solar Industries, a company unrelated to solar energy? Click here to learn more.
 

Google is having a rough start to the week as it faces legal fronts from two sides simultaneously: the DOJ’s Antitrust Trial in the USA and litigation for violating privacy laws in the Netherlands.

As per media outlets, Google has been monopolising the internet for a decade by spending $10 billion annually.

Google has faced several trials for the exact charges, but this time may prove difficult for the tech giant. The trial’s outcome will change history.

Read here to know how the ultimate fight between Indian Startups and Google went down.

Byju's finally plans to repay its $1.2 billion term loan B within six months. 

It aims to pay $300 million in the next three months, with the rest following. 

The company is selling key assets, Epic and Great Learning, to raise cash, potentially generating up to $1 billion. 

Byju's is working with bankers to find strategic investors for the assets and is also seeking fresh equity capital.

To know all that is happening with Byjus, click here.
 

Reliance Retail Venture Ltd. (RRVL) received an investment of ₹2,069 crore from global investment firm KKR (Kolkata Knight Riders), raising its stake from 1.17% to 1.42%.

The investment is made through an affiliate, translating into an equity stake on a fully diluted basis. KKR invested ₹5,550 crore in 2020 in RVNL and is also an investor in Jio Platforms Ltd. with ₹11,367 crore.

RRVL’s valuation reached ₹8.36 lakh crore with this follow-on investment.

Along with its retail unit, Reliance Industries has many plans in motion for the future. Click here to learn how those plans might affect your investments.

US boutique investment firm GQG Partners has further increased its position in IDFC First Bank following a recent acquisition of a 2.6% stake worth ₹1,527 crore on September 4. 

In today's block deal, 0.8% of the company's stake, equivalent to around 5.1 crore shares, changed hands at an average floor price of ₹94.50 offering a nearly 1% discount from the previous Friday's closing stock price of Rs 95.35.

Meanwhile, to decode the business of IDFC First Bank, click here.
 

USA-firm Coinbase sent an email on Sunday to all its users to withdraw their funds as they will be closing doors in India. Both the website and app will be accessible till September 25, 2023.

Coinbase entered India in April 2022, allowing users to buy crypto using UPI. However, the regulators created a huge obstacle, leading to disabling the service. 

The clearing of all action from the US crypto firm was a long time coming.

While discussing ends, do you think the rise in UPI affects our favourite toffee industry? Read here to know how!

India is ready to lead the G20 Summit as world leaders arrive in New Delhi. Personalities like US President Joe Biden, French President Emmanuel Macron, and UK Prime Minister Rishi Sunak will participate actively with multiple others.

The summit will be held at Bharat Mandapam Convention Centre on September 9th and 10th. 30 heads of state, 14 heads of international organisations and top European Union officials will participate in the summit.  

World Climate, Economy, Defence, Trade, Investment, etc. will be discussed.

Whisper of a discussion to establish a railway line connecting India with the Middle East and Europe is spreading. Know which company is helping boost India's railway sector here.

Following a recent ₹100 crore investment from Nikhil Kamath of Zerodha, Nazara Technologies is now set to secure ₹410 crore from SBI Mutual Fund. 

Nazara Technologies will secure the investment from SBI Mutual Fund via three schemes: SBI Multicap Fund (₹200 crore, 3.82% stake), SBI Magnum Global Fund (₹120 crore, 2.29% stake), and SBI Technology Opportunities Fund (1.72% stake). 

The total stake acquired by SBI Mutual Fund will be 7.83%. 

Meanwhile, to know more about another player in this industry, check this article.
 

After breakup with Vedanta Ltd., Taiwan-based Foxconn is planning a JV with European chipmaker STMicroelectronics. This partnership is done to establish a semiconductor plant in India producing 40-nanometer chips.

STMicro will balance out the JV with its expertise in technical fabrication, making up for what Vedanta-Foxconn JV lacked.

iPhone assembler Foxconn is also looking for other companies accomplished in chip-making technology for other functions. The government's incentive outlay of ₹76,000 crore for plant establishment in India is attracting many foreign parties.

Read here on what the government is doing to secure its citizens' data from multiple threats.

UK’s second-largest city, Birmingham, is in uproar after its city council was declared bankrupt on 5th August. An annual budgetary shortfall of millions of pounds is the reason for the bankruptcy.

A Section 114 notice was issued by Birmingham City Council, the largest local authority in Europe, stating the immediate pause of new expenditures apart from statutory services & vulnerable people’s protection.

The UK government expressed “serious concern over its governance arrangements” and assured regular engagement with the council.

Alongside, read about how the Dollar is losing its value on the global level here.

Oyo, the hospitality and travel tech startup, is facing a wave of executive departures. 

The most recent exits include India CEO Ankit Gupta and Europe head Mandar Vaidya. This adds to a growing list of high-level departures in the past year, including CTO Ankit Mathuria. 

Oyo has also undergone internal reshuffling, resulting in increased responsibilities for existing executives. 

These changes raise questions about the company's stability as it prepares for its public debut.

Read here, to know about how oyo makes money.
 

Karnataka's High Court revoked a GST council case against Gameskraft for tax evasion of ₹21,000 crore. As a blow to the gaming company, the Supreme Court has upheld HC's order and asked both parties to file their submissions within three weeks.

GST authorities claim Gameskraft's games to be close to betting style and thus allege them to evade the 28% GST between 2017 and 2022. 

As per this case outcome, recovering past GST dues might be possible for the government.

Get a clear idea of what 28% GST application means for the gaming industry by reading this article.

SEBI is making trading faster with plans to achieve one-hour settlements by March 2024. 

They're also set to launch an Application Supported by Blocked Amount (ASBA) like feature for secondary market trading in January 2024. 

This transformation in the market's settlement speed raises questions about its potential impact on the overall stock market dynamics and investor behaviour. Will this rapid change impact the stock market positively?

Meanwhile, read about the Sebi’s new regulations for the unlisted company here.
 

Lenders from ZEEL always opposed a merger with Sony Pictures Network India (now Culver Max Entertainment). IDBI Bank, one of Zee’s lenders, has challenged NCLT’s approval of the Zee-Sony merger before an appellate authority.

IDBI Bank opposes the deal, believing it to be defrauded due to a “non-compete clause” in the deal, in which Sony would pay ₹1,100 crore to Essel Group.

NCLT’s approval was the final green light the merger needed, but now IDBI Bank has created another roadblock.

What else awaits the creation of the $10 billion media firm from this merger is fascinating to watch. Till then, read here about what happened when BCCI stole from Zee Entertainment.

Mahindra & Mahindra Ltd is in talks with Volkswagen to use key electric parts from Volkswagen's open electric vehicle platform, called the modular electric drive matrix (MEB). 

Mahindra plans to invest around ₹10,000 crore in its EV subsidiaries over the next 5 years. 

They signed a term sheet with Volkswagen in August, where Volkswagen will supply electric components. Mahindra's electric future is charged up and ready to roll! 🔌

Meanwhile, if you are considering investing in the real estate sector, check this article.