The Directorate of Enforcement (ED) has frozen assets worth approximately ₹192 crore belonging to Zo Games Pvt Ltd, a wholly owned Indian subsidiary of online gaming platform WinZO Pvt Ltd, as part of an ongoing money laundering investigation under the Prevention of Money Laundering Act (PMLA). In a press release issued on Monday, the ED said the assets were classified as Proceeds of Crime (PoC) and included bank balances, fixed deposits, and mutual fund investments. The freeze followed search operations conducted at company-linked locations. According to the agency, preliminary findings point to deceptive gaming practices on the WinZO platform. The…
Author: Adarsh Kumar
Indian Railways has crossed a major technological milestone after the Vande Bharat Sleeper train successfully completed its final high speed trial at 180 kmph, reinforcing India’s push towards indigenous, next-generation rail manufacturing. The high-speed trial was conducted on the Kota–Nagda section under the supervision of the Commissioner of Railway Safety (CRS). According to officials, the 16-coach sleeper train achieved the targeted speed smoothly, with all safety and performance parameters found to be fully satisfactory. “The train’s performance at 180 kmph was stable and compliant with safety norms. The trial has been declared successful by the CRS,” the Ministry of Railways…
Bastian Hospitality, led by Founder & CEO Ranjit Bindra, is set to ring in the new year with a landmark celebration as it hosts the India debut of Club 42, a new premium IP by 1942, at Bastian At The Top, on New Year’s Eve. Club 42 is being introduced in India through a highly selective circle of trusted collaborators, with Bastian At The Top, as the only venue chosen to bring this experience to life on 31st December, from 10:00 PM onwards. The collaboration reflects Bastian Hospitality’s commitment to elevated hospitality, immersive guest experiences, and thoughtfully curated celebrations that…
Debt-laden telecom operator Vodafone Idea (Vi) has received significant relief after the Union Cabinet approved a five-year moratorium on its adjusted gross revenue (AGR) dues, freezing payments worth ₹87,695 crore, according to sources cited by PTI. Under the approved framework, Vodafone Idea will not be required to make any AGR-related payments during the moratorium period. The frozen dues will be repaid over a 10-year window from FY32 to FY41, with no interest accruing during the moratorium, providing critical financial breathing room for the company. Once the moratorium concludes, the outstanding AGR arrears will be settled in six to ten instalments,…
Proptech startup Truva has raised $6.3 million (₹56.7 crore) in a Series A funding round from its existing investors, Stellaris Venture Partners and Orios Venture Partners, strengthening its balance sheet as it looks to scale operations and expand its property discovery platform. Regulatory filings with the Registrar of Companies (RoC) show that Truva issued 54,628 Series A Compulsorily Convertible Preference Shares (CCPS) at an issue price of ₹10,383 per share to raise the fresh capital. Stellaris Venture Partners led the round with an investment of ₹30.5 crore, while Orios Venture Partners participated with ₹26.22 crore. The company said the proceeds…
India’s mutual fund industry extended its strong growth streak in 2025, adding nearly ₹14 trillion to its asset base and taking total assets under management (AUM) to an all-time high of ₹81 trillion by November, driven largely by rising retail participation and record inflows through systematic investment plans (SIPs). Data from the Association of Mutual Funds in India (AMFI) shows that the industry recorded net inflows of about ₹7 trillion during the year so far, while the investor base expanded sharply by 3.36 crore accounts, reflecting the deepening penetration of mutual funds among households. Venkat Chalasani, Chief Executive Officer of…
The Adani Group is pressing the central government to grant additional international flying rights to airlines, a move aimed at boosting passenger traffic across its rapidly expanding airport portfolio as the conglomerate invests billions of dollars in aviation infrastructure. Adani Airports Holdings Ltd (AAHL), which operates eight airports across India, has urged the Centre to initiate bilateral negotiations with countries including the United Arab Emirates, Saudi Arabia, Qatar, Singapore, Indonesia and Malaysia to expand seat entitlements, according to people familiar with the matter. The group believes enhanced international capacity would help Indian airports particularly Mumbai emerge as global aviation hubs.…
Elon Musk’s artificial intelligence venture xAI has acquired a third building near Memphis as part of its aggressive expansion plans for its flagship ‘Colossus’ data centre complex, a move that will push the company’s AI computing capacity to nearly 2 gigawatts. Musk confirmed the development in a post on X, saying the newly acquired facility will significantly boost xAI’s training infrastructure. “xAI has bought a third building called MACROHARDRR. This will take xAI training compute to almost 2GW,” Musk wrote. A single gigawatt of power is typically sufficient to supply electricity to around 750,000 US homes. xAI already operates one…
Global luxury automobile brands Mercedes-Benz and BMW are exploring opportunities in India’s premium real estate sector and are currently in discussions with multiple developers across key urban markets, according to sources familiar with the matter. Industry insiders say interest from high-end global brands in Indian realty has intensified and is expected to accelerate further in 2026. Multiple sources indicated that Mercedes-Benz is already in advanced talks with several developers in Gurugram to develop a luxury branded residential project. The proposed development is expected to target ultra-high-net-worth individuals (UHNWIs) and affluent buyers seeking globally branded living experiences, though deal specifics remain…
Global packaged seafood company Captain Fresh has withdrawn its draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI), according to information published by the market regulator. The Bengaluru-based company clarified that the move is strategic and aimed at facilitating the closure of a material acquisition. Captain Fresh was earlier planning to raise around ₹1,700 crore through a fresh issue as part of its proposed initial public offering (IPO). Ahead of the listing, the company had also secured ₹250 crore in pre-IPO funding led by existing investors Prosus Ventures, Accel and Tiger Global, with participation…