Grant Thornton News

₹1 trillion or more are proposed to be included in the list replacing an earlier methodology of quantitative and qualitative parameters. Upper layer non-banks face tighter regulations than smaller ones.A list of all NBFCs for fiscal 2026 released by the Reserve Bank of India on Friday included the name of Tata Sons among others in the upper layer.

₹6–7 until recently, has now climbed to ₹11–12 due to a PP shortage.Due to the shortage, per tonne cost of cement will increase by roughly ₹60–80, considering 20 bags of 50 kg each per tonne, said Sourav Mitra, partner, Oil and Gas, Grant Thornton Bharat.At the heart of the issue is polypropylene (PP), used to produce woven cement bags. Refineries in the Gulf region are increasingly diverting feedstock such as propane and butane toward liquefied petroleum gas (LPG) production amid supply uncertainties, tightening PP availability.Bag manufacturers are currently receiving only about 60–70% of their contracted PP chip supplies, according to a Motilal Oswal report dated 18 March.

Mint analysis of vehicle registration data from the Vahan dashboard shows the share of overall EV sales has risen from under 1% until 2020 to 8% in 2025. Adoption accelerated after 2021 amid a stronger policy push.Compare this with the government’s ambitious target of 30% EV penetration by 2030—it’s an unachievable goal.“Realistically, the aim looks extremely difficult to achieve; even with strong growth, crossing the 10–12% threshold by 2030 itself would be challenging under current conditions,” said Rajat Mahajan, partner and auto sector leader at Deloitte.The concern is not just about missing a numerical target.

Subscribe to enjoy similar stories. Hybrid cars may roar past their electric cousins in the coming years after trailing them in the green transition so far, mirroring a pattern set in the US, Europe and South Korea. The debut of new fleet-wide emission norms next year could prompt more carmakers to roll out hybrids to stay compliant, an internal Bureau of Energy Efficiency (BEE) document said, signalling a structural shift in energy mix in the world's fastest-growing automobile market.

If any Mickey Mouse accounting goes on for years in the treasury, it would, however, be with the knowledge of the mid-office that monitors — or, is supposed to monitor — the risks and reports any breach to the treasurer and chief risk officer. In the sequence and hierarchy of these divisions that witness millions of bond, currency and derivative deals, the front office 'creates' the risk to make money, the mid office 'keeps tabs' of positions, and the back office records and reconciles. In some ways, a treasury is a bank within a bank. Among this cast of characters, some (directly reporting to the kingpin) would be typically aware of sharp practice; many lower in the ranks would blindly do what's told to them; and some would look the other way while letting the music go on. The army of auditors scrutinising the books, and probably call records and chats of IndusInd Bank officials, will have to ferret out exact quantum of losses, gaps in processes, and why the funny divergent accounting — booking profits while deferring losses of mirror derivative transactions — went on since 2016. It would hint who knew what, whether conflicted reporting arrangements fuelled the folly, and whether someone from the back office had ever raised a red flag.

IndusInd Bank has appointed Grant Thornton to conduct a forensic review into accounting lapses detected this month and to check if there is any evidence of fraud or internal misstatements, said two people with direct knowledge of the matter. IndusInd is India's fifth-largest private lender with a balance sheet of $63 billion. Its shares have lost about 23.4% since it disclosed on March 10 that its derivatives portfolio was overvalued by around 2.35%, or $175 million, after non-compliant internal trades. The accounting discrepancy contravened Reserve Bank of India rules, though the central bank has said IndusInd is well-capitalised.

Grant Thornton pre-budget survey, which included responses from over 155 industry stakeholders across sectors, respondents are optimistic about India's economic outlook.

Top industry executives have decried the government's modest ₹1,100 crore FY25 budgetary allocation, amounting to 0.03% of the GDP, for telecom-related R&D, including allocations towards the IndiaAI Mission and design-linked incentive scheme. They termed it an unrealistic and feeble attempt to aspire for leadership on the global 6G stage. More so, since the actual FY25 budgetary allocation to the Department of Telecommunications (DoT) for R&D is just Rs 400 crore.

real estate sector saw 25 deals worth USD 1.4 billion in September quarter, driven by Qualified Institutional Placement (QIP) issues launched by developers, according to a report by Grant Thornton. Consulting firm Grant Thornton Bharat released the report 'Real Estate/ REITs Dealtracker — Providing M&A and PE deal insights' on Monday. «The quarter maintained strong deal volumes with 25 deals, marking an all-time high in terms of deal volumes and the second-highest values since Q2 2023,» the report said. The deal values were primarily driven by the QIP activity, followed by private equity funding in the residential and commercial segments, with additional activity in real estate technology companies.

TraqCheck, an enterprise software startup, has raised an undisclosed amount in a funding round from Alok Oberoi, former head of Goldman Sachs’ international wealth management business; Aakash Anand, founder of Bellavita; and Caret Capital, an early-stage venture firm focused on startups in the mobility, distribution and employment sectors. The funds will be used for global expansion. ET had earlier reported that the startup aims to expand into global markets in the next two to four years. Founded in 2020 by Armaan Mehta, Jaibir Nihal Singh, and Rishabh Jain, the New Delhi-based company assists businesses in background verification using artificial intelligence.

Liminal Custody stated on Monday, September 9, that an independent audit conducted by Grant Thornton has cleared them of any involvement in the $230 million cyberattack that occurred on July 18, 2024. According to Liminal Custody, the breach of the multi-signature (multi-sig) wallet was most likely due to vulnerabilities at WazirX’s end, not their own. Grant Thornton’s audit clears Liminal Custody

Mint. The growing popularity of equated monthly instalments (EMIs), or the fixed sum that a borrower must pay every month towards a loan, has further dented the prospects of rental companies. “Today, we have affordable EMIs to buy furniture across all price points," he said.

Grant Thornton became the largest accounting firm to sell a piece of itself to a private-equity investor on Friday, giving it more financial firepower to make acquisitions and investments—and, potentially, a new client in its owners. The firm’s Chicago-based U.S. unit closed the sale of a stake to a group led by to New Mountain Capital on Friday, following an agreement in March.

global capability centres (GCCs) in India slowed in the year to March based on a dipstick survey of 80 companies by specialist staffing firm Xpheno for ET. While India remains a hotspot for GCCs, with the number of such centres growing, the segment added a net 50,000-80,000 people in FY24, down from 150,000 in FY23.

The Economic Times said. He added, "I have committed publicly to my shareholders that in FY26, I will deliver an 18-20% EBITDA margin, which should roughly translate to over ₹2,000 crore of EBITDA on a cash basis". Further Goenka explained through "frugality, optimisation and sharp focus on quality and decisions based on the return of investment" Zee will be able to achieve ₹2,000 crore EBITDA by FY2026.

global economic slowdown and declining confidence in the economic outlook in Asia-Pacific region, India's mid-market businesses are hopeful of positive prospects in the near future, according to a report by Grant Thornton. Nearly 80 per cent of Indian mid-market businesses maintain a positive economic outlook in the next 12 months, up from 78% in H1 2023, the International Business Report (IBR) revealed. The survey conducted in the latter half of 2023 also noted that this is fuelled by India's domestic market and government initiatives such as 'Make in India', which are creating a favorable environment for growth.

India for the year 2023, reaching $66 billion, marking a decrease of over 50 percent, a recent report from consultancy firm Grant Thornton Bharat found. Released on January 19, the report found a decline of over 20 percent in deal volume, with 1,641 deals compared to the previous year. Shanthi Vijetha, a partner at Grant Thornton Bharat, pointed out several factors contributing to this.

NEW DELHI : Audit watchdog National Financial Reporting Authority (NFRA) on Friday alleged that leading audit firm Walker Chandiok & Co. LLP was directly or indirectly related to some of the Grant Thornton entities, and that it offered prohibited non-audit services to audit clients in two instances. In an order issued after an inspection of Walker Chandiok & Co, NFRA said that firm has also failed in some of the norms relating to client acceptance and continuance.

In a significant market shift, Bitcoin has soared to $43,500, marking an impressive 2.50% increase. This surge is largely attributed to the persuasive impact of spot Bitcoin ETF filings, which, even before official approvals, have intensified marketing campaigns within the crypto sector.

The starter pistol has sounded for college internship applications—for the summer of 2025. Companies in finance and accounting are now recruiting for interns nearly 18 months before college students would be expected to start. The investment bank Guggenheim Securities and the Royal Bank of Canada, in addition to accounting stalwarts Grant Thornton and PricewaterhouseCoopers among others, started advertising for 2025 summer internships this fall.

Strong demand for traditional auditing, accounting and tax services, along with fast-growing consulting offerings, helped boost annual revenue at mid-tier accounting firms by a breakneck 17 per cent, to $2.8 billion.