Koo, the Indian microblogging platform that aimed to rival Twitter, is shutting down after failing to secure acquisition deals. The startup, which launched in March 2020, experienced rapid growth and became a significant player in the social media space. Despite initial success and expansion efforts, Koo could not sustain its operations due to financial challenges…
On the morning of July 3, the Indian equity markets experienced a historic surge. The Sensex, a 30-share index on the Bombay Stock Exchange (BSE), soared by 597.77 points to break through the unprecedented 80,000 mark, reaching a new lifetime high of 80,039.22. Simultaneously, the Nifty index, encompassing 50 major companies, climbed 168.3 points, setting…
An Overwhelming Gathering Turns Deadly A satsang event in Uttar Pradesh’s Hathras district, intended to be a spiritual congregation, transformed into a horrific scene as a stampede led to the tragic deaths of 121 individuals, including many women and children. The event was presided over by the self-styled godman, Suraj Pal, also known as Narayan…
Fugitive Businessman Faces New Legal Troubles A special court in Mumbai has issued a non-bailable warrant against fugitive businessman Vijay Mallya in connection with a Rs 180-crore loan default case involving Indian Overseas Bank (IOB). The order, issued by special CBI court judge SP Naik Nimbalkar on June 29, was made public on Monday. The…
High-Profile Investors Deceived Rishi Shah, an Indian-American businessman and former billionaire, has been sentenced to seven and a half years in prison by a US court. The sentence concludes a massive ₹8,300 crore ($1 billion) fraud case. The scheme deceived high-profile investors, including Goldman Sachs Group Inc., Google’s parent company Alphabet Inc., and Illinois Governor…
Hindenburg Receives Notice from SEBI Hindenburg Research, a US-based short-seller, has been issued a show-cause notice by India’s capital market regulator, the Securities and Exchange Board of India (SEBI). The notice pertains to suspected violations of Indian regulations in the context of the Adani Group case. Allegations Against Adani Group In January 2023, Hindenburg Research…
Odisha has reported a substantial increase in State GST collections for June 2024, showcasing significant economic growth and improved tax administration. The state collected ₹2,039.71 crore under State GST (OGST + IGST Settlement), up from ₹1,650.82 crore in June 2023. This marks an impressive growth rate of 23.56%. Robust Year-to-Date Growth in State GST The…
Unreturned ₹2000 Notes in the Economy The Reserve Bank of India (RBI) recently announced that ₹7,961 crore, equivalent to about $954 million, worth of ₹2000 banknotes are still in circulation. These notes have not been returned or deposited despite their withdrawal from active use. This unreturned amount represents 2.24% of the total ₹3.56 lakh crore,…
P.V. Sindhu is gearing up for her third Olympic journey, aiming for another medal at the Paris Games. She acknowledges how much badminton has evolved since she clinched a silver at the Rio Games eight years ago. Speaking at a Zoom press conference organized by the Sports Authority of India on Sunday, the 28-year-old noted…
A Delhi court on Monday sentenced social activist Medha Patkar to five months of simple imprisonment. This sentence is the culmination of a 24-year-old defamation case brought against her by VK Saxena, now the Lieutenant Governor of Delhi. The court also ordered Patkar to pay Rs 10 lakh in damages to Saxena. The Long-Standing Legal…
