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According to various media reports, Saurabh Chandrakar, the suspected mastermind of the multimillion-dollar Mahadev Online Book scam, has been arrested by UAE officials on suspicion of money laundering. A formal request for extradition is anticipated to be sent shortly by the Enforcement Directorate. The sources went on to say that
Wealth platform funded by Tiger Global-Jar has entered the e-commerce space in an effort to diversify its revenue streams and achieve sustainable growth. Co-founder and CEO Nishchay AG explained that the gold-focused micro-savings company, Nek, its direct-to-consumer jewellery brand, quietly entered the e-commerce fray in February. By October, Nek expects
AI and electric vehicle concept is getting really popular around the globe. As the people are getting more aware about sustainability and its long term value, they are opting for more solutions and products that are friendly to the environment. Stretching on the same line and within the framework of
According to reports, Dutch investment firm Prosus is nearing $60 million (INR 503 Cr) in funding for Indian ride-hailing unicorn Rapido through a combination of main and secondary share sales. According to insiders, Rapido's current $200 million funding round will include this additional funding. The conditions of the
In Borivali, Mumbai, Nykaa has started a test programme for 10-minute delivery. According to a media source report, this move is a reflection of the rapid commerce sector's growing influence across several product categories, which is pressuring speciality merchants to accelerate their delivery services. A direct-to-consumer meat firm
According to the company's pre-listing prospectus, Swiggy, a food and grocery delivery service that is about to make its first public offering (IPO), gave its founders and senior management $271 million in employee stock options as part of its most recent stock-based compensation plan, which was implemented in
On September 9, 2024, the Reserve Bank of India amended the Unified Payment Interface (UPI) limitations, which were previously set at INR 2,000 and now stand at INR 5,000. The Reserve Bank of India's governor, Shaktikanta Das, announced that the Monetary Policy Committee (MPC) had decided
According to a media report, PhysicsWallah, the leading ed-tech unicorn, has picked four investment banks as advisors as it prepares for its 2025 IPO plans, following a capital round last month that valued it at $2.8 billion. PhysicsWallah has selected Axis Capital, Kotak Mahindra Capital, Goldman Sachs, and JP
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This article has been contributed by Sanjay Sehgal, Founder, Chairman and CEO, MSys Technologies. An economic slowdown can impact startups and businesses negatively. But it can also present some unique opportunities that can make a startup survive and thrive during a crisis. For any business, “recession” is the most feared
The growth-stage funding to the start-up ecosystem has slowed down dramatically over the previous two years, leading venture capital company Peak XV to reduce the size of its largest fund by sixteen percent. In May 2022, the company secured $2.85 billion for its ninth fund, and it will give
Businesses can now enter their GSTIN (Goods and Services Tax Identification Number) while making purchases on the Blinkit platform, thanks to a new feature. Albinder Dhindsa, the CEO, claims that this change is a reaction to consumer demand, especially from companies buying expensive goods like electronics. Businesses can now claim
In an effort to support the company's restructuring efforts in the wake of the $234.9 million cryptocurrency theft, WazirX said on October 2 that it was in the process of establishing a Committee of Creditors (COC). According to a blog post, the committee will be made up