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NCLT has ordered initiating insolvency proceedings against Coffee Day Enterprises Ltd (CDEL), the parent company of Coffee Day Group which operates Cafe Coffee Day chain of coffee houses. The Bengaluru bench of the NCLT (National Company Law Tribunal) on August 8 admitted the plea filed by IDBI Trusteeship Services Ltd (IDBITSL) claiming a default of Rs 228.45 crore and appointed an interim resolution professional to take care of the operation of the debt-ridden company. CDEL, which also owns and operates a resort, renders consultancy services and is engaged in the sale and purchase of coffee beans, had defaulted in the payment of coupon payments of redeemable non-convertible debentures (NCDs). The financial creditor had subscribed 1,000 NCDs through private placement and paid Rs 100 crore towards the subscription in March 2019.

OpenAI has recently announced exciting news for ChatGPT users, particularly those utilizing the free version of the platform. The company is now extending the ability for free users to generate up to two images daily using DALL-E 3, their advanced generative AI model.

Prudent Corporate Advisory Services, an independent retail wealth management services group, has reported a 51% year-on-year increase in revenue from operations, reaching Rs 249.4 crores for the quarter ended June 2024. The company achieved a net profit of Rs 44 crores for the June quarter, marking a 57% growth compared to the same period last year. This significant revenue growth was driven by a 52% increase in the quarterly average assets under management (AUM) in the mutual fund sector, alongside a 64% rise in revenues from non-mutual fund products.

NCS) under the Ministry of Earth Sciences (MoES) on Saturday confirmed that there has been no natural earthquake recorded in Wayanad and its adjoining areas by any of the Seismographic stations installed in Kerala or its surroundings on August 9, 2024. Ministry of Earth Sciences in a press statement said, the felt tremor reported by media sources with rumbling sound may be due to shifting of unstable rock masses accumulated during landslides from one level to other lower level for better stabilization that have generated sub terranean acoustic vibration due to frictional energy. «This energy has the potential of propagating up to hundreds of kilometres through sub-surface cracks and fractures associated with sub-surface lineaments that may have caused rumbling sounds with ground vibration in the areas as a natural phenomenon in the landslide-Prone zones,» the Ministry said.

men's marathon in Paris on Saturday as Eliud Kipchoge's bid for a third gold went up in smoke. Tola clocked an Olympic record of 2hr 06min 26sec for victory, finishing 21 seconds ahead of Belgium's Bashir Abdi, whose silver marked an upgrade from his bronze garnered at the Covid-hit Tokyo Games three years ago. Kenya's Benson Kipruto, winner of Tokyo, Boston and Chicago marathons in recent years, rounded out the podium, a further 13sec adrift.

India is the country among major global economies that experienced the fastest growth in intangible investment from 2011 to 2020, according to a recent report. The World Intellectual Property Organisation (WIPO) said in its report that India recorded the fastest growth in intangible investments, exceeding countries like Sweden and the US — the two most intensive economies in terms of intangible investment as a share of GDP.

Nitin Gadkari has issued a stern warning to Punjab Chief Minister Bhagwant Mann, stating that the National Highways Authority of India (NHAI) may have to cancel or terminate eight major highway projects in Punjab if the law and order situation does not improve. These projects, valued at Rs 14,288 crore, are under threat due to ongoing security concerns and delays. Gadkari's ultimatum comes in response to recent incidents affecting the construction of the Delhi-Amritsar-Katra Expressway. Reports indicate that engineers and workers have been attacked in Jalandhar and there have been threats of arson and violence against the project camp and staff in Ludhiana. Gadkari emphasised that the cancellation of even one segment of these greenfield corridors could render the entire project ineffective. In his letter to CM Mann, Gadkari outlined serious safety concerns for NHAI officers, contractors, and their employees. He also noted issues with pending land acquisition, and included photos documenting the assaults.

Here is the list of award money athletes get for finishing on the podium in Olympics. Hong Kong and Singapore top the list for the highest cash payouts for Olympic victories.

creamy layer in the reservation for SCs and STs in the Constitution given by B R Ambedkar. The Union Cabinet, at a meeting chaired by Prime Minister Narendra Modi, held a detailed discussion on the Supreme Court judgement on the sub-categorisation of reservation for SCs and STs as granted in the Constitution. «It is the well thought view of the Union Cabinet that the NDA government is firmly committed to the provisions in the Constitution given by Dr Babasaheb Ambedkar,» Information and Broadcasting Minister Ashwini Vaishnaw told reporters here. He said there was a detailed discussion in the Union Cabinet meeting on a recent Supreme Court judgement that made certain suggestions on the reservation for the Scheduled Castes (SC) and Scheduled Tribes (ST).

motor insurance in non-life industry premiums has fallen below 30% for the first time, according to data released by the General Insurance Council as of June-end, reported TOI. The non-life industry wrote premiums totaling Rs 72,758 crore, marking a 13.3% increase from the previous year. Health insurance continues to lead the growth with a 16.6% increase in premiums, reaching Rs 29,915 crore, while motor insurance grew by 11.9% to Rs 21,348 crore. At the end of the quarter, health insurance accounted for 41.1% of the total non-life insurance premiums, whereas motor insurance's share decreased to 29.3%. The shift in share is attributed to a slowdown in car sales, with insurers pointing out that the focus of motor insurance is largely on new cars due to regulatory requirements. These rules mandate buyers to purchase three years of cover upfront for cars and five years for two-wheelers, influencing the dynamics of motor insurance premiums.

Siemens has reported a 25 per cent rise in profit after tax (PAT) at Rs 531 crore during the April-June quarter of this fiscal, on account of higher revenues. The company, which follows the October to September fiscal year, had reported a PAT of Rs 424 crore a year ago, a company statement said on Friday. Its revenues rose to Rs 4,714 crore, up 7 per cent from Rs 4,407 crore in the year-ago period.

iPhone 16. For starters, the tech giant is expected to switch to a vertical camera layout, similar to the iPhone X or iPhone 12, in favour of the diagonal layout of its predecessor.

Police have received the forensic report of the main accused Mihir Shah in the Worli hit-and-run case that took place on July 7. According to the forensic reports received by police on Friday, Mihir Shah's blood samples have tested negative for alcohol. The report indicates that the main accused, Mihir Shah, was not under the influence of alcohol at the time of the incident. The Worli police arrested the accused Mihir Shah from Virar Fata approximately 58 hours after the incident. The police stated that by the time of his arrest, about 58 hours after the incident, the alcohol had likely left his body.

rave party' at an apartment in Noida, Uttar Pradesh, police arrested 39 university students, some of them were younger than eighteen, according to a statement issued on Saturday. According to the police spokeswoman, they were tipped off about the Friday night «rave party» at the Supernova residential society in Noida Sector-94. According to the official statement, 39 students from a prestigious university who were between the ages of 16 and 20 were taken into custody by the police squad when they arrived at the scene.

HDFC faced a hostile banking landscape following the merger in 2022, HDFC Bank MD & CEO Sashidhar Jagdishan was quoted as saying by a ToI report on August 10. Jagdishan acknowledged that the banking landscape changed dramatically after the lender decided to merge with parent HDFC in April 2022, but he defended the decision. Speaking at the bank’s annual general meeting, Jagdishan highlighted that the global economic situation had shifted, altering their initial growth projections due to tighter liquidity conditions and shifts in consumer preferences. Jagdishan noted that the bank's decision to merge had initially factored in growth rates based on a benign liquidity environment. However, this changed after the Reserve Bank of India (RBI) announced a series of repo rate hikes from May 2022, starting with a 40 basis point increase, in response to rising commodity prices following the Ukraine invasion. These rate hikes, totaling 250 basis points, alongside RBI's measures to drain surplus liquidity, increased deposit costs for banks, impacting HDFC Bank significantly as it needed to raise deposits not only for incremental growth but also to cover HDFC's erstwhile assets.

U.S. inflation numbers, the latest Japanese economic data and a slew of UK data could give investors a fresh steer.

OpenAI revealed that it had considered the potential for users to form an emotional reliance on its new, humanlike voice mode, which is featured in its popular artificial intelligence chatbot, ChatGPT. Cue all references to the Netflix show «Black Mirror» and the Spike Jonze movie «Her.» The company noted in the report, which concerned safety steps that were taken during product development, that during early testing, users were observed engaging in language that might indicate the formation of a connection with the model. The software participates in conversation by receiving and responding to voice commands, images and videos.

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Ukrainian incursion into Russia's Kursk region was the largest such cross-border raid by Kyiv's forces in the nearly 2½-year war, exposing Russia's vulnerabilities and dealing a painful blow to the Kremlin. The surprise foray has prompted thousands of civilians to flee the region as the Russian military struggles to repel the attack. For Ukraine, the cross-border raid offers a much-needed boost to public morale at a time when the country's undermanned and under-gunned forces have faced relentless Russian attacks along the more than 1,000 kilometre front line. A glance at the Ukrainian raid and its implications.

Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

Arthasastra, for instance, frowns on challenges to authority. Anyone who foments revolts, attempts to snatch power, or to instigate disaffection is, it tells us, to be burnt alive “from head to foot". This is for non-Brahmins, though; Brahmins were to be drowned.