The IBC Journey: A Closer Look at Insolvency Resolutions and Asset Recoveries
As of September 2023, there were 2,249 corporate debtors with liquidation orders, of which 187 had admitted claims exceeding Rs 1,000 crore. The total aggregate claim for these firms was Rs 843,000 crore, but the assets valued only at about Rs 43,000 crore
Empowering MSMEs: Vivad se Vishwas Scheme Resolves Rs 700 Crore in Claims
Vivad se Vishwas-I is a dispute resolution scheme that was introduced in the 2023-24 Budget. Under this scheme, MSMEs could claim a refund of 95% of performance or bid security and liquidated damages that were forfeited by government departments and public sector entities during the COVID-19 pandemic.
Gautam Adani’s Vision: Transforming Infrastructure with $84 Billion
The group may look at public issues of bonds from February 2024. Adani Green Energy and Adani Transmission might issue Regulation-S and Regulation-D bonds in 2024. Adani Green Energy needs to raise $350 million to refinance existing debt maturing in December 2024.
Drones for Development: Empowering 15,000 Women SHGs with Rs 1,261 Cr Scheme
The scheme involves providing drones to 15,000 selected Women SHGs, with an outlay of Rs. 1,261 crore. This initiative spans from the financial year 2024-25 to 2025-26 and is focused on offering these drones for rental services to farmers, primarily for agricultural purposes.
Feeding the Nation: India Commits Rs 11.8 Trillion to Food Security
This extension will involve an expenditure of approximately 11.8 trillion rupees (about $141.63 billion), marking it as one of the world’s largest food security initiatives. Designed to ensure food and nutrition security, the scheme targets about 813.5 million people, encompassing over 81.35 crore beneficiaries under the National Food Security Act.
India’s Rice Diplomacy: Exporting 0.9 MT to Asian and African Nations
The allocation of broken rice exports is as follows: Senegal will receive 0.5 MT, Mali will get 0.1 MT, Gambia is allocated 0.05 MT, Indonesia will have 0.2 MT, and Bhutan will receive 48,804 tonnes.
Singapore’s BEENEXT Leads $10M Investment in Pune-Based PhiCommerce
PhiCommerce, an omnichannel payment solutions provider based in Pune, India, has successfully raised $10 million in a Series A1 funding round. This round was led by Singapore-based venture capital firm BEENEX
T-Hub: A Catalyst for Startup Success in Telangana
T-Hub can house 800-1,000 startups and currently engages with over 500, of which 341 operate from its facility. The Telangana government has invested Rs 400 crore, with an additional Rs 40 crore needed for completion.
SustVest’s Sustainable Investment Journey Boosted by WEH Ventures’ $250K
SustVest, a Gurugram-based investment platform specializing in renewable energy projects, recently secured a funding of $250,000 in a round led by WEH Ventures.
Onedios’ Financial Boost: Rs 6 Crore Raised to Reinvent Customer Care
Onedios, an IT Services and IT Consulting industry-focused company, recently completed a successful bridge funding round. The round was co-led by Inflection Point Ventures and VCATs, with the company securing a total of Rs 6 crore