Delaware Supreme Court ruling affirms BYJU’s defaulted on Term Loan B
The Delaware Supreme Court ruling has affirmed that edtech firm BYJU’s has defaulted on Term Loan B.
BYJU’s US-based lenders on Tuesday said the Delaware Supreme Court affirmed the previous ruling by Delaware Court of Chancery’s and said an event of default had occurred under the credit agreement and entitled BYJU’s lenders and their administrative agent, GLAS Trust for action against the company.
SpiceJet resolves dispute with Engine Lease Finance Corp through amicable settlement
Domestic carrier SpiceJet on Tuesday said it has successfully resolved its dispute with Engine Lease Finance Corporation (ELFC) through an amicable settlement.
ELFC, which had previously claimed USD 16.7 million, has agreed to settle for an undisclosed amount, which is lower than the initial claim, the Gurugram-based airline said in a statement.
S&P retains India’s growth forecast at 6.8%, expects RBI to cut rates in October
S&P Global Ratings on Tuesday retained India’s growth forecast at 6.8% for the current fiscal and said it expects the RBI to start cutting interest rates in its October monetary policy review.
In the economic outlook of Asia Pacific, S&P Global Ratings also retained its GDP growth forecast for the 2025-26 fiscal at 6.9% and said solid growth in India will allow the Reserve Bank to focus on bringing inflation in line with its target.
US and UAE discuss progress on India-Middle East-Europe Economic Corridor
US President Joe Biden and his counterpart from the United Arab Emirates Sheikh Mohamed bin Zayed discussed the progress of the landmark India-Middle East-Europe Economic Corridor (IMEC) and underscored its potential to usher in a “new era of international connectivity.”
SEBI imposes ₹1 crore fine on Anmol Ambani in Reliance Home Finance case
Markets regulator SEBI on Monday imposed a penalty of ₹1 crore on Anmol Ambani, son of industrialist Anil Ambani, for his failure to exercise due diligence while approving general-purpose corporate loans in Reliance Home Finance matter.
Additionally, the regulator levied a fine of ₹15 lakh on Krishnan Gopalakrishnan, who was the Chief Risk Officer of Reliance Housing Finance. Read more.
The article originally appeared on upstox.
