Govt intervention creates uncertainty for IEX

India’s power ministry has requested the Central Electricity Regulatory Authority to initiate the process of coupling the country’s three power exchanges; Indian Energy Exchange (IEX), Power Exchange of India (PXIL) and Hindustan Power Exchange (HPX). to ensure a uniformity in price discovery of energy at trading platforms. this is expected to translate into better transparency, … Read more

Govt takes action against Greave Cotton’s EV subsidiary

Like many others, Greaves Cotton has been riding on the EV boom; through it’s subsidiary Greaves Electric Mobility (GEM). Now, Government through Ministry of Heavy Industries (MHI) vide its letter dated 25th May 2023, has alleged that GEM failed to adhere to Phased Manufacturing Programme Guidelines. Consequently – It has proposed to deregister GEM from … Read more

IndiaMart named in US Notorius Markets List

Released by the US Trade Representative (USTR) on January 31, 2023, the 2022 Notorious Markets List identifies 39 online and 33 physical markets globally that are reported to engage in or facilitate substantial trademark counterfeiting or copyright piracy. In India, IndiaMart is the only ‘online’ marketplace named in the list. Rest 4 are all offline … Read more

RBI stops Paytm Payments Services from signing new online merchants

Paytm Payments Services Ltd (PPSL) is a subsidiary of One97 Communications Ltd (OCL), the parent of Paytm. OCL had proposed to transfer the payment aggregator (PA) services business undertaken by it to PPSL in December 2020 to comply with the guidelines of the banking regulator. However, the RBI had rejected its application. The company had … Read more

Debenture holders’ plea to NCLT against Peninsula not admitted

As per the newspaper reports, debenture holders have approached NCLT invoking insolvency proceeding against Peninsula Land (PL). Plea is due to default by one of the SPVs of PL on it’s payment obligations towards the debenture holders in July 2021. Debenture holders had invoked corporate guarantees worth Rs 117 crore provided by PL. As per … Read more

Spicejet settles with AAI. Also rumoured to be in stake sale discussions.

Spicejet has informed that it has settled with Airports Authority of India (AAI) and has cleared all the ‘principal’ dues. Financial difficulties of the airline are widely known. It has been defaulting/ delaying on most of it’s financial commitments. It was moved to ‘cash and carry system’ in airports run by the AAI. Spicejet has … Read more