Digital Financial News

bankruptcy court Wednesday admitted Jammu and Kashmir Bank's application to initiate insolvency proceedings against Essel Infraprojects Ltd, a company promoted by media baron Subhash Chandra, over what the lender claimed was an 'established case' of default. The Mumbai bench of the National Company Law Tribunal (NCLT), while admitting the company, has also appointed Hemant J Mehta as interim resolution professional (IRP). The private-sector lender had approached the tribunal after the Essel Group entity defaulted on its dues of ₹87.43 crore. «The financial debt is due and payable by the corporate debtor (Essel Infraprojects) as on the date of filing the present company petition,» observed the division bench of judicial member Reeta Kohli and technical member Madhu Sinha in its order. «Further, there is admission of default and outstanding liability by the corporate debtor in various correspondences annexed to the company petition,» it added.

Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

SFBs) have raised their fixed deposit rates to more than 8% for a two- year tenure as they scramble with the giants, such as State Bank of India and HDFC Bank, to garner funds from ordinary savers in a market where alternative investment options have multiplied over the past couple of years. SFBs are offering 100-125 basis points higher on deposits than what they offered a year ago. The returns are also about 120 basis points more than what the big banks such as SBI and HDFC Bank offer. Utkarsh SFB and Suryoday SFB are offering 8.5% on two-three year tenures, while Equitas SFB is offering 8.5% on a tenure of two years to less than three years. Unity SFB is offering 9% on 1,001 days.

Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk and Bitcoin Magazine.

Donald Trump and Vice President Kamala Harris, Trump made an unexpected move by entering the spin room. Trump confidently told reporters that he believed he had emerged as the victor of the night. He described the debate as his «best» performance, noting that it felt like a «three against one» situation, referring to the ABC News moderators. Trump spent several minutes answering questions from reporters before heading to a live interview with Sean Hannity on Fox News, where he reinforced his claim of winning the debate.

Rachel Wolfson has been covering the cryptocurrency, blockchain and Web3 sector since 2017. She has written for Forbes and Cointelegraph and is the host and founder of Web3 Deep Dive podcast.

Deloitte has won the mandate for resolution of Jaiprakash Associates- the largest insolvency case currently, which has claims of over Rs 51509 crore and assets ranging from real estate to cement business, said a stock exchange disclosure. Deloitte will replace PwC for the sale process of Jaiprakash Associates, which is undergoing corporate insolvency and resolution process. Lenders had appointed Bhuvan Madan as the resolution professional. Going forward, Deloitte will support the RP, thus replacing PwC, said people with knowledge. Lenders have also approved a resolution to appoint legal firm Shardul Amarchand Mangaldas as legal advisor for the RP, and BDO LLP is appointed to carry out agency for specialised monitoring (ASM) related assignments for the company.

Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

Chandigarh's upscale Sector 10 on Wednesday evening. The house owner claimed that two individuals in an auto-rickshaw hurled a grenade at the property. While there were no casualties, the blast damaged windows and garden pots, according to police. Chandigarh Senior Superintendent of Police (SSP) Kanwardeep Kaur, along with a team of officers, reached the scene shortly after receiving information around 5:30 pm.

Defence Ministry has given approval to the Indian Navy's plans worth over Rs 2,500 crore to build 100-tonne unmanned underwater vessels. The proposal for building the 100-tonne unmanned underwater vessels was given clearance at a high level defence ministry meeting held recently, defence sources told here. The underwater vessels in the Extra Large category would weigh over 100 tonnes and would be

Dickey Alternative Investment Trust and Adani Power Ltd on Wednesday moved the Supreme Court challenging the National Company Law Appellate Tribunal's order asking it to maintain status quo on implementation of the consortium's resolution plan for debt-laden Coastal Energen. A Bench led by Chief Justice DY Chandrachud posted the matter for hearing on Thursday after Solicitor General Tushar Mehta and senior counsel Abhishek Manu Singhvi sought urgent hearing in the case. While observing that prima facie due process was not followed and members of the consortium should not be allowed to make any gains, the NCLAT on Friday directed that the erstwhile resolution professional would continue to run Coastal Energen's power plant in Thootukudi, Tamil Nadu, until September 18, the next date of hearing. And any money generated during this period would be kept in an escrow account, it held.

Haryana Assembly elections. AAP has so far declared 61 candidates for the 90-member assembly. Among the candidates announced on Wednesday are Raj Kaur Gill from Ambala Cantonment, Lalit Tyagi from Yamunanagar, Joga Singh from Ladwa, Satbir Goyat from Kithal, Sunil Bindal from Karnal, and Sukhbir Malik from Painpat Rural. The other names in the list include Saroj Bala Rathi from Ganaur, Devender Gautam from Sonipat, Shiv Kumar Rangeela from Gohana, Sandeep Malik from Baroda, Kavita Dalal from Julana, Nisha Deshwal from Safidon, Sukhwinder Singh Gill from Tohana, Jasdev Nikka from Kalanwali, Sham Mehta from Sirsa, Narender Uklana from Uklana, Rajiv Pali from Narnaund, Rajender Sorkhi from

4G stack will be rolled out by middle of next year and the country is also aiming to achieve a 10% share in 6G patents, communications minister Jyotiraditya Scindia said Wednesday. Speaking during an industry event, Scindia said India has emerged as a beacon of hope and stability amid tremendous amounts of global economic and social turbulence. He said India is rising on the world stage and the country is no longer an embodiment of a struggling economy, but an economy that is on the rise, an economy that is rising like a phoenix in the comity of the nations.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

Texas gas station has hit the winning Mega Millions jackpot worth $800 million on Tuesday. This marks the end of more than 20 drawings without a jackpot winner. The winning ticket, purchased at Murphy USA 8848 in Sugar Land, Texas, had the numbers 1, 2, 16, 24, 66, and the Mega Ball 6. For selling the ticket, the store will receive $1 million. The prize winner can choose annual payouts totaling $800 million or a one-time cash option of $404.2 million. Texas law allows winners of prizes over $1 million to remain anonymous.

The world’s largest burger chain is rolling out a new format in the US with digital ordering stations that can take cash and give change, allowing most customers to bypass the register entirely, according to people familiar with the new design option. While the bulk of McDonald’s locations already have kiosks, right now most customers who don’t pay with cards have to line up at the counter to finish their transactions with the help of an employee.

As interest in real-world asset (RWA) tokenization surges, Rexas Finance (RXS) has emerged as a revolutionary player in this space. If you’re excited about investing in RXS, especially with its presale underway, this guide will walk you through the process step-by-step. We’ll cover everything from understanding RWA to how to secure your RXS tokens.

₹223 crores, while NTC Industries’ standalone net profit fell almost 78% to ₹44 crores in Q1 FY25. Even ITC, the most diversified player in the tobacco business, reported a mere 0.3% on-year rise in its standalone net profit to ₹4,920 crore in the same period. Also Read: ITC shares hit a new high post budget.

Amagi, a Bangalore-based unicorn and the global leader in cloud-based SaaS technology for broadcast and connected TV (CTV), has entered the Mexican market. This strategic expansion reflects Amagi's commitment to global growth and underscores its confidence in the potential of Latin America's media and entertainment industry. As part of this move, Amagi has appointed Miriam Rios as the Director of Account Management to spearhead its sales efforts in Mexico.