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MPL accuses ASCI of 'tampering' with ads

Mumbai: Galactus Funware Technology, the parent company of online gaming platform MPL (Mobile Premier League), has issued a legal notice to the Advertising Standards Council of India (ASCI), demanding the immediate withdrawal of a whitepaper titled 'Examining Opinion Trading in India' and seeking ₹50 crore in damages for alleged defamation and loss of goodwill.The legal notice, dated May 23, 2025, sent through their legal counsel Trilegal, accuses ASCI of publishing a "biased and unsubstantiated" whitepaper that relies on "tampered" versions of MPL's advertisements and misrepresents their content to mislead consumers.Edited screenshotsGalactus Funware claims that the ASCI whitepaper, published in May 2025, deliberately edited screenshots of their advertisements to support a "baseless conclusion" that opinion trading involves an "element of risk" and "chances of financial losses".The notice highlights specific instances of al...
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India Inc turn to non-bank routes for funding

Mumbai: Corporate India is increasingly tapping non-banking channels to meet its funding requirements, with nearly half of the total resources raised in FY25 coming from equity markets, bonds, and loans from non-banking financial companies (NBFCs), Reserve Bank of India (RBI) data showed. The total flow of financial resources to the corporate sector rose to Rs 35 lakh crore in FY25, marking a modest 3% increase over the previous year. However, the composition of this funding reflects a shift away from traditional bank credit, signalling a broader economic slowdown. Of the Rs 35 lakh crore raised, Rs 17.1 lakh crore — or nearly 49% —came from non-bank channels such as corporate bonds, NBFC loans, equity issuances and foreign direct investment. By contrast, demand for bank credit declined 14% to Rs 17.9 lakh crore. Bankers attribute this shift to the strong performance of equity markets, which encouraged companies to raise capital through share issuances rather than debt. Non-financial c...
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