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PC Jeweller has reached a one-time settlement (OTS) with a consortium of lenders led by State Bank of India (SBI) to settle its debt by offering banks a mix of cash and equity in the Delhi-based company. The ₹2,250-crore offer represents about a 20% haircut to lenders' principal amount, estimated at ₹2,900 crore, and 64% recovery of total dues, including interest of ₹3,500 crore, said people familiar with the details. PC Jeweller informed stock exchanges over the past month that six of the 14 lender banks have agreed to the OTS proposal. It, however, did not disclose the settlement details. The lenders include Union Bank of India, SBI, IndusInd Bank, Punjab National Bank, Karur Vyasya Bank and Axis Bank. «Each bank will have to take separate internal approvals for the transaction. Banks expect to complete the process, including taking equity stake in the company in the next three to four months,» said one of the persons cited above.

VVIP chopper case passed away last month. Former IAF official Group Captain Navyath Santosh, who was charged by the Central Bureau of Investigation (CBI) along with three other ex IAF officials, passed away on June 28. This was informed by his counsel, earlier this month, to the Delhi High Court. It is pertinent to mention here that even after over eleven years a probe was launched into the ₹3,600 crore VVIP chopper case and even after over a dozen chargesheets filed both by CBI and ED, the trial is yet to commence. According to the CBI, its investigation into the case is still not complete. The CBI had in December 2022 moved an application before the lower court seeking to segregate the trial in a bid to kickstart the trial. Vide the said application, the CBI had argued that the accused who have joined the probe cannot be denied their «right to speedy trial.» However, the application has not yet been decided. For the CBI moved the Delhi High Court in December 2022 challenging orders passed by the special CBI court permitting a co-accused to inspect documents not relied upon by the agency.

Trinamool Congress MP Mahua Moitra has moved the Supreme Court against the directives by the Uttar Pradesh and Uttarakhand governments that eateries along the Kanwar Yatra route must display the names of their owners. In her plea before the top court, Moitra has sought a stay on the orders passed by the two state governments saying such directives aggravate discord between communities. The plea is yet to be listed for hearing. The TMC leader said by forcing the disclosure of the names of proprietors and even those of their staff, on the stated ground of respecting pilgrims' dietary choices, «makes it clear that dietary choices is a pretext, or a proxy, for the compelled disclosure of personal — and, in this case, religious — identity», the plea said.

software update that caused technological havoc worldwide on Friday, and its repercussions continued through the weekend. The breadth of the outages highlighted the fragility of a digitized world dependent on a few providers for key computing services. But the problem appeared to divide those affected into haves and have-nots. Major customers of Microsoft and CrowdStrike are getting IT support to resolve the issues, but many smaller businesses whose Windows PCs may have received the problematic update are still struggling. Take Tsvetta Kaleynska, owner and founder of the Manhattan-based consumer insights company RILA Global Consulting, which has Fortune 500 clients. As of Saturday, she resolved the payroll issue and she got an extension until Monday on the research project. But the prospective client will not move forward with the new contract, cutting her annual earnings by nearly 25%, she estimated. The problem: she couldn't sign the contract because Docusign, which runs on Microsoft software affected by the faulty update, was down.

Narendra Modi on Sunday announced that India will contribute one million dollars to the UNESCO World Heritage Centre to provide support for heritage conservation in countries, especially of the Global South. Speaking at the inauguration of the 46th session of the World Heritage Committee at Bharat Mandapam in New Delhi today, PM Modi said that India considers the preservation of global heritage as its responsibility, and hence, is providing support for heritage conservation not only in India but also in countries of the Global South. «India considers the preservation of global heritage as its responsibility, and hence, we are providing support for heritage conservation not only in India but also in countries of the Global South. India is assisting in the conservation of many heritages like Angkor Wat in Cambodia, Cham Temples in Vietnam, and Bagan Stupa in Myanmar. In this direction, I am making an announcement. India will contribute one million dollars to the UNESCO World Heritage Centre. This grant will be used for capacity building, technical assistance, and the conservation of world heritage sites,» PM Modi said.

Graphite is the first mineral Coal India Limited (CIL) will diversify its operations beyond coal, following an order from the Ministry of Mines granting the company a composite license for prospecting and mining. This license pertains to the Khattali Chhoti Graphite Block in Alirajpur, Madhya Pradesh. «This is the first mineral other than coal for us,» Debasish Nanda, Director of Business Development at Coal India, told PTI. CIL is required to pay a mining premium of 150.05 per cent of the value of minerals dispatched to the state government.

cobra was rescued in Karnataka's Agumbe village after causing panic earlier this week. Ajay Giri, the field director at Agumbe Rainforest Research Station (ARRS), shared a video of the rescue on Instagram. According to Giri, the 12-foot snake was crossing a road when it was disturbed by onlookers and took refuge in a bush within a house's compound. When the home owners discovered the highly venomous snake on their property, they became worried and contacted the forest department, which then informed ARRS about the situation. Recognizing the danger to both residents and the snake, ARRS staff promptly sprang into action and rushed to the location. A video shared by Ajay Giri shows snake rescuers gently removing the snake from the premises.

India Meteorological Department has issued an orange alert for several districts of Himachal Pradesh, predicting heavy to very heavy rainfall on Monday and Tuesday. The weather department also informed that light to moderate rainfall accompanied by thunderstorms and lightning is likely to occur in various districts of Himachal Pradesh. According to the weather department, the districts where rainfall is predicted include Kangra (Dharmsala, Jaisingpur), Mandi (Sarkaghat, Dharmpur, Slapper, Kotli, Mandi, Sundernagar), Hamirpur (Sujanpur Tihra, Hamirpur), Bilaspur (Swarghat, Bilaspur), Chamba Solan, Shimla, Sirmaur, and Kullu.

online shopping experience increasingly frustrating. “Every app I visit has some form of dark pattern,” says the 26-year-old media and entertainment lawyer from Mumbai. “I can’t find a single safe app that lets me pay only for what I want,” he adds. What is a dark pattern? It refers to manipulative or deceptive tricks—such as hidden fees, subscription traps and sneaking items into online baskets—that get users to perform an action they would not have otherwise done had they understood it well or had a choice. Harry Brignull, a UK-based UX (user experience) designer coined the term in 2010, referring specifically to digital platforms.

Italy’s competition watchdog said thatit had opened an investigation into Google and its parent company Alphabet over suspected “unfair commercial practices” linked to user data consent requests sent to consumers. “The request for consent that Google submits to its users to the linking of the services offered may constitute a misleading and aggressive commercial practice,” the AGCM competition authority said in a statement.

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G Kishan Reddy on Saturday launched the National District Mineral Foundation (DMF) portal, a centralised platform to gather information on the District Mineral Foundations across the country. The portal provides details of 645 DMFs in the country with enhanced transparency, featuring centralised visibility of activities, project oversight, and dynamic analytics, as well as a repository of best practices for effective implementation, an official release said. Reddy also launched the Mineral Exploration Hackathon focused on innovative mineral hunt techniques. The hackathon is aimed at promoting use of emerging technologies like Artificial Intelligence (AI) and Machine Learning (ML) for geophysical data, integration of multiple mineral exploration data sets such as baseline data, available exploration data, etc, to identify new mineral targets, particularly for deep seated/concealed ore bodies.

Amazon Prime Day sale is here: Check out the best Prime Day deals on electronics, home appliances, and moreAvailable at a discount on Amazon, the LG 7 Kg front-load washing machine boasts a 5-star energy rating and innovative 6 Motion Direct Drive technology for efficient and gentle cleaning. The steam wash feature eliminates allergens, while the Smart Diagnosis function simplifies troubleshooting.

behavioural finance plays a key role in his investment strategy, making him a force to be reckoned with in the finance world. Let's start with your personal story I was born and brought up in Mumbai. My family was in the business of importing and trading dry fruits and spices. I used to accompany my father to his office during my school and college vacation. That gave me an early exposure to business. At an early age of 14, I was fascinated by learning about business management and decided to pursue an MBA after my graduation. However, by the time I graduated, my interest shifted towards finance and capital markets. After completing my MMS (Finance) from Somaiya Institute of Management and Research, I worked as a sell-side research analyst wherein I tracked key sectors like IT and pharma. I came across the concept of behavioural finance in 2004 and decided to move to buy-side or the mutual fund side to learn about how psychology impacts investment decisions.

filing returns. However, instead of easing compliance, it has often increased the burden on taxpayers mostly because details related to equity transactions in the statement are inaccurate. To make matters worse, the onus of fixing the errors lies with the taxpayers.

Security experts said CrowdStrike's routine update of its widely used cybersecurity software, which caused clients' computer systems to crash globally on Friday, apparently did not undergo adequate quality checks before it was deployed. The latest version of its Falcon Sensor software was meant make CrowdStrike clients' systems more secure against hacking by updating the threats it defends against. But faulty code in the update files resulted in one of the most widespread tech outages in recent years for companies using Microsoft's Windows operating system.

cyberattack, a torrent of online conspiracy theories took off Friday after a major IT crash. Airlines, banks, TV channels and financial institutions were engulfed in turmoil after the crash, one of the biggest in recent years that was the result of a faulty software update to an antivirus program operating on Microsoft Windows.

NEW DELHI : New Delhi: In a much-required revamp of corporate disclosures, the government has simplified the reporting process for companies on unclaimed dividends, deposits, and share application refunds—a move that will also further smoothen the claim process for investors. To reduce the compliance burden on companies, the ministry of corporate affairs in a recent order simplified how businesses need to report the transfer of unclaimed dividends and underlying shares to a fund maintained by the Investor Education and Protection Fund Authority (IEPFA).

A widespread technology outage on Friday, seemingly linked to issues at global cybersecurity firm CrowdStrike and Microsoft, disrupted operations at airports, airlines, banks and even hospitals, including several in Canada.

Some 3.3 million steam cleaners are being recalled across North America due to a burn hazard that has resulted in consumers reporting more than 150 injuries

Wall Street Journal reporter Evan Gershkovich has been convicted of espionage charges that his employer and the U.S. vehemently reject