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New Delhi, Insolvency tribunal NCLT on Monday formed a five-member bench to decide on media baron Subhash Chandra's repayment plan in a personal insolvency case involving claims of more than Rs 22,000 crore after a division bench failed to reach a majority verdict.The division bench had referred the personal insolvency case against the Essel Group Chairman to the tribunal's president for fresh adjudication after failing to reach majority consensus on a proposed Rs 6.5 crore repayment plan despite referring the matter to a third judge.Also read: Subhash Chandra Rs 22,000 cr case: NCLT fails to get majority view on insolvency plan with 99.7 percent haircutThe five-member bench, formed for the first time in the NCLT's history, will be led by President Justice Anupinder Singh Grewal. The other members are Bachu Venkat Balaram Das, Mahendra Khandelwal, Atul Chaturvedi and Ravindra Chaturvedi. The bench will start hearing at 10:15 am on Tuesday in the Principal Bench of NCLT.Earl...

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Pune: The government will introduce a fortnightly sugar allocation system from September, replacing the existing monthly quota, in a bid to improve availability and prevent artificial scarcity in the market.Under the fortnightly quota, sugar mills will be required to sell at least 40% of the allocation in the first week and the remaining quantity in the succeeding week. It was observed that in certain cases, sugar sold by mills at the beginning of the month was being dispatched or lifted by buyers only towards the end of the month, leading to artificial scarcity, the government said in a statement.Sugar is a regulated industry. The Centre has been announcing a mill-wise monthly sales quota to manage sugar supplies and prices in the domestic market. The government expects the fortnightly system will enable it to monitor the demand and supply even closer, respond quickly to changes in market conditions, prevent artificial tightening of supplies, and release additional quota whenever requ...

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The government affirmed that onion availability remains comfortable to meet domestic demand in the coming months, backed by robust production, buffer stocks and targeted market interventions aimed at moderating seasonal price pressures.Estimated onion production stood at 307.37 lakh metric tonnes (LMT) in 2025-26, broadly in line with 307.67 LMT recorded in the previous year, the Ministry of Consumer Affairs, Food and Public Distribution said on Wednesday.Also read: Centre to sell onions at Rs 35/kg in Delhi from Thursday amid price surgeThe ministry said onion prices typically witness seasonal pressure during the festive and wedding season because of higher demand and supply-chain factors. The scale, coverage and channels of buffer stock releases will be expanded depending on market conditions and price trends.The government has commenced calibrated and targeted releases from its onion buffer stock, with supplies being transported to major consumption centres through a hybrid model in...

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Indian car buyers are increasingly moving towards larger SUVs, with mid-size models gaining market share as consumers prioritise space, comfort and features over smaller, more affordable vehicles, reportec TOI.Mid-size SUVs and crossovers measuring more than four metres accounted for 18.2% of domestic passenger vehicle sales in the first quarter of FY27, up sharply from 12.4% two years earlier and 15% a year ago, according to estimates by Kotak Institutional Equities.Also Read: Volkswagen Cars eyes mass growth in India with compact SUVThe shift marks a continued move towards premium vehicles in India's passenger car market, with mid-size SUVs gaining ground faster than most other segments over the past two years.Compact SUVs, which measure less than four metres, have meanwhile lost some ground. Their share fell to 14.6% in Q1FY27 from 16.2% a year earlier and 15.3% in Q1FY25.Why buyers are choosing bigger SUVsThe rising popularity of mid-size SUVs reflects growing demand for more s...

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Mumbai: Nielsen is preparing for an "agent-first" media environment where personal AI agents could increasingly decide what content and advertising users see, creating a new challenge for media measurement, its CTO Anil Goel told ET.As AI accelerates content creation and fragments audiences across platforms, devices and formats, Nielsen is preparing for a future where distinguishing human viewing from machine-driven content selection becomes increasingly important."How do we measure in that agent-first world, and how do we differentiate between what's viewable by humans versus agents is going to become a very interesting challenge that we are gearing up for," Goel said.AI is already accelerating content creation, with studio-quality videos that once took days or weeks now being produced in minutes or hours, he said. The resulting proliferation of content will make it harder to measure increasingly fragmented audiences.Nielsen is combining its panels with first- ...

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Anthropic PBC’s revolving credit facility is set to rise above its roughly $10 billion target, according to people familiar with the matter, as the artificial intelligence firm prepares for a highly anticipated initial public offering.The Claude chatbot maker’s proposed expansion of its so-called revolver is drawing a clutch of banks seeking to bolster their pitch for roles on the IPO, said the people, who asked not to be identified because the information isn’t public. Discussions are ongoing and the company could decide to limit the size of the revolver to the target or even below, the people said.Anthropic has asked the most active banks leading the credit line to lend about $1.25 billion, with the next level of active banks being encouraged to offer around $1 billion, and with the commitments dropping to roughly $750 million and lower for less active roles, some of the people said.Generally, in syndicated loans, the higher the commitment of a bank, the higher the fees it gets paid ...

New Delhi: The defence ministry signed a ₹1,943 crore contract with US firm General Atomics on Monday to lease two additional MQ-9B SeaGuardian high-altitude long endurance (HALE) drones for the Indian Navy that will be tasked with long distance maritime patrolling and surveillance.The drones will add to two similar systems that have been taken on lease in the past and are currently in service. General Atomics will be responsible for the upkeep and operational availability of the drones during the 30-month lease period.133304722Also Read: On surveillance mission, MQ-9B Sea Guardian drone encounters 'technical failure'Officials said that the MQ-9B SeaGuardian HALE, equipped with advanced systems, state-of-the-art sensors and sophisticated payloads, will significantly enhance the Indian Navy's maritime domain awareness capabilities.The systems will provide persistent intelligence, surveillance and reconnaissance coverage over vast areas of the maritime domain, strengthening I...

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Mumbai: Petrol is losing its grip on India's car market, with sales coming under pressure in some of the country's biggest automobile markets as buyers increasingly look beyond conventional fuel.Across Maharashtra, Haryana, Delhi, Rajasthan and Uttar Pradesh, petrol cars are losing ground even as CNG, hybrids and electric vehicles gain momentum, while diesel is seeing renewed interest in some markets. Adding to the shift is growing consumer anxiety over E20 petrol. Industry executives said concerns about mileage, compatibility and long-term ownership are increasingly featuring in purchase decisions.But carmakers caution that E20 alone cannot explain the pressure on petrol. The bigger shift, they said, is that consumers now have more alternatives, with the economics and availability of these powertrains making them increasingly credible choices.The shift is therefore not simply from petrol to electric vehicles. CNG is attracting buyers seeking lower running costs, while hybrids ...

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Belgium: Belgian firefighters backed by water bombers and helicopters were battling a rapidly spreading wildfire on Saturday at a natural park near the German border that ravaged at least 16 square kilometres (six square miles) in 24 hours.Reinforcements have been called in from across the country to help tackle the blaze at the Hautes Fagnes park, in the country's far east, with aerial support coming in from European partners under the EU's civil protection mechanism.The blaze, already one of the largest in Belgium's history, remains uncontrolled according to Nicolas Yernaux, a spokesperson for the regional authorities in Wallonia said.The nearby village of Sourbrodt, with about 500 residents, was under threat of evacuation after the fire, which broke out on Friday, ballooning in size overnight.Also read | Hormuz ship attacks mount as US vows to cripple Iran economy"It is under consideration because of the smoke, but no final decision has been taken yet," Yernaux...

In 2002, Singapore's PM Goh Chok Tong drank a bottle of NEWater, a brand of recycled water treated from sewage to demonstrate that it was safe, and of high drinking quality. NEWater, used water passed through microfiltration, reverse osmosis and ultraviolet disinfection, exceeds WHO drinking water standards.Little of it, though, is drunk. Most goes to wafer fabrication plants, because semiconductors demand water far purer than humans do. The fabs polish it further, until water stops being a beverage and becomes a solvent. Every chip in every data centre has been rinsed thousands of times in water of this kind.Also read: Delhi data centre fire sparks nationwide operations safety reviewA municipal corporation in one of India's metros has priced treated sewage at ₹7.50 a kl for a proposed hyperscale data centre. The response was a rally, a demand for a stay, and a headline that travelled: a city short of 30 mn l a day (MLD) will hand 12 MLD to servers.The 30 MLD shortfall is of po...

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India's markets regulator proposed on ​Tuesday extending ​the rules that currently govern ​vault managers to cover all physically settled bullion underlying SEBI-regulated products, a move aimed at ‌strengthening oversight ⁠of ⁠the country's digital bullion market.Here are the ​details:The Securities and Exchange Board of India ​has proposed expanding its gold-backed Electronic Gold Receipts (EGR) framework to cover all ​physical bullion underlying SEBI-regulated ⁠products, including ‌bullion exchange-traded funds and ​derivatives, ​according to a consultation paper.⁠Vault managers store physical gold that ​backs electronic gold receipts, which ​investors can trade on exchanges.India is one of the world's largest consumers of gold, and the electronic gold market has expanded in ‌recent years as more investors seek alternatives to holding physical ​bullion.The ​consultation paper ⁠also proposed a circular outlining the framework for EGRs, along with operational guidelines fo...

Archer Aviation shares jumped nearly 10% on Monday after the air-taxi maker agreed to acquire Boeing’s electric aircraft business Wisk Aero and two other units in exchange for a nearly 20% stake in Archer, Reuters reported.The stock opened at $6.41 and traded between $6.08 and $6.87 during the session, climbing as much as 14% in morning trading.The deal also includes drone manufacturer Insitu and airspace-services provider SkyGrid, giving Archer access to Boeing’s autonomous-flight technology and potentially strengthening its position in defence and commercial logistics.Boeing will receive a 19.75% stake in Archer and the right to appoint a director to its board. It will also retain access to Wisk’s technology for its commercial and defence aircraft programmes, Reuters reported.For Boeing, the divestments mark another step towards simplifying its portfolio, focusing on its core commercial-aircraft and defence businesses and scaling back its air-taxi ambitions.Archer, which has yet to g...

New Delhi: Coal stocks at power plants are expected to fall to 24-30 million tonnes (mt) by the end of September from about 37 mt currently, amid lower seasonal dispatch, higher demand during a deficient monsoon and above-normal temperatures, people familiar with the matter said.Coal supplies to thermal power plants have picked up in recent months, even as stocks at generating units have declined from the high levels seen at the start of the financial year because of cooling demand.Stocks at power plants stood at 59.3 mt on April 1, compared with 37.2 mt on August 7.The average number of rakes loaded per day has risen to 436 so far in August from 376 in the corresponding period a year earlier, an official said.133074614"Last year in Q2 average loading was 370 rakes per day, this time it is around 434," another official said.The increase in loading has become more pronounced since June.Average daily loading was 426 rakes in April, 442 in May, 444 in June and 434 in July, compa...

Mumbai: ACME Solar Holdings plans to invest ₹15,000-20,000 crore in expanding its renewable energy business, with a focus on battery energy storage to meet rising demand for reliable, round-the-clock renewable power, chief executive officer Nikhil Dhingra told ET.The company expects the contribution of energy storage to its business to increase from around 25% now as it expands its battery portfolio, Dhingra said, adding that ACME aims to deploy about 10 GWh of battery capacity this year. "Storage will be a primary focus," Dhingra said.ACME also has about 1.5 GW of firm and dispatchable renewable energy (FDRE) capacity scheduled to come up in FY27. These projects will combine solar generation with battery storage, the company said. It has already signed power purchase agreements (PPAs) for about 4,000 MW of FDRE and hybrid projects, while its near-term pipeline stands at more than 5,080 MW.Dhingra said demand for round-the-clock renewable power is expected to remain strong, p...

Bhubaneswar: Senior BJP leader and Sambalpur MP Dharmendra Pradhan on Saturday said attempts were made to "mislead" Gen Z during the protests over the NEET paper leak issue, prompting him to quit as Union Education Minister.Pradhan broke his silence on his resignation while addressing students and teachers at GM University here, exactly two weeks after he stepped down amid massive protests at Jantar Mantar in Delhi over the issue."Gen Z is our children. Some people attempted to mislead them. I had no personal issues then. At least two crore children are born in India every year. During the last 10 years, 20 crore children were born. They have aspirations, and they will make India the 'Vishwa Guru'. The post was not important to me," Pradhan said.He said he had approached Prime Minister Narendra Modi and offered to resign from the Union Council of Ministers.Pradhan resigned from the ministry on July 25.At another meeting in Rairakhol, Pradhan hit out at forme...

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Mumbai: Bank loans given against fresh foreign currency non resident (bank) (FCNR (B)) deposits raised between June 8 and September 30 will not be included in the net bank credit and will hence be exempted from mandatory priority sector calculations, RBI said in a notification.Advances against NRE term deposits raised by banks between June 19 and September 30 will also be excluded from these calculations, RBI said.The RBI had earlier also provided an exemption to banks from maintenance of cash reserve ratio (CRR) and statutory liquidity ratio (SLR) on fresh FCNR (B) deposits including deposits that are renewed upon maturity. Loans given against these deposits will also now be exempt from central bank norms. RBI rules say that a minimum of 40% of net bank credit must be made to so called priority sectors which include loans to agriculture, MSMEs, export credit, education, housing, weaker sections etc.The Reserve Bank of India's special measures to attract foreign exchange have broug...

London/Melbourne: Founders and CEOs of India's largest companies have routinely expressed concern about the country's widening skills gap, declining productivity, and the challenge of preparing young people for the workforce. Anand Mahindra, for instance, had warned that joblessness and unaddressed skill gaps could fuel social unrest. Yet, when such a 'prophesised' social unrest finally did erupt - in the form of NEET protests in support of Cockroach Janta Party (CJP) - Big Business kept quiet.At first glance, it might seem like businesses have nothing to do with the issues and demands raised by CJP. But businesses are, indeed, involved, at every stage. Two decades of extraordinary wealth creation by India Inc has not translated into employment at the scale needed to absorb a growing young workforce. The employment that has been generated is largely precarious and, in many cases, exploitative, especially in gig work that is yet to be provided the security of formal econ...

New Delhi: Vehicle registrations or retail sales by dealers rose 26% to 2.59 million units year-on-year in July, marking the best-ever performance for the month for two-wheelers, three-wheelers, passenger vehicles, commercial vehicles and tractors.The strong growth, however, came on a low base as automobile sales were sluggish last year in the run-up to the overhaul in goods and services tax (GST) rates with effect from September 22, 2025. Automakers dropped prices to pass on the lower GST rates, triggering a sales surge.Also Read: Alternative fuels now within striking distance of petrol in passenger vehicle market, says FADATwo-wheeler sales grew 28% year-on-year last month, per data collated by the Federation of Automobile Dealers Associations (Fada) from the road ministry's Vahan portal. Sales of three-wheelers, passenger vehicles, and commercial vehicles climbed 16%, 19% and 24%, respectively in July. "For the first time on record, every single category posted its best-eve...

Honeywell Aerospace shares plunged as much as 26% on Thursday after supply-chain problems prompted the company to cut its annual sales target and issue a weaker-than-expected profit forecast, Reuters reported.The stock was last down about 20% and headed for its worst session since its recent listing, if the losses held.The aerospace supplier, which began trading on the Nasdaq about a month ago following its spinoff from Honeywell, said supply constraints forced it to prioritise deliveries to Boeing and Airbus over its higher-margin aftermarket business.Honeywell Aerospace lowered its 2026 organic sales-growth outlook to 4%-5% from 7%-9% previously.The company expects adjusted earnings of $7.60-$7.90 per share for the year, significantly below analysts’ average estimate of $8.86, according to LSEG.JP Morgan reduced its price target from $255 to a Street-low $235, saying the stock’s “discount to peers is likely to widen following these results”. The brokerage added that repeated disappoi...

Retail investors flocked to SpaceX shares on Wednesday, buying the dip as the stock fell about 12% following the company’s first earnings report since going public, according to a Reuters report.Individual traders purchased a net $22.7 million worth of SpaceX shares in the first hour of trading, the third-highest opening-hour total in the 37 sessions since its market debut, the report said citing Vanda Research.“This tells us that retail dip-buying has not stepped back after the earnings sell-off — they’ve become even more opportunistic,” Vanda Research said in a note.The financial data firm said Wednesday was on track to become SpaceX’s second-strongest day of retail net buying since its debut if the pace continued. The record was set on June 16, when net purchases reached $144.6 million.SpaceX has not recorded a single day of net retail selling since its June 12 IPO, the largest in US history, which priced the stock at $135 per share. The shares fell as much as 12.9% and slipped belo...

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Mumbai: Hardening overseas rates, tough competition and strong client demand is forcing banks to tweak their FCNR (B) offerings to attract maximum dollars as banks get into the busy season of the special scheme.ICICI Bank and HDFC Bank, two of the largest private sector banks have both hiked a section of their FCNR (B) rates noting the changed scenario. With overseas rates also higher more banks could join in hiking rates in this scheme, people familiar with banks' plans said.While ICICI has hiked the rate on its FCNR (B) deposits for $5 million or above to 6.25% from 6%, HDFC has raised rate uniformly on its three- to five-year (FCNR) (B) dollar deposits by 25 basis points basis points to 6.25% from 6%. A senior bank executive said that the higher rates are a function of the market and competition. "The tweaks are required to keep rates competitive which is what large banks have done. Also the fact is overseas rates have gone up and borrowing is more expensive so banks have t...

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Mumbai: The UAE anti-money laundering agency Financial Intelligence Unit (FIU) is understood to have asked banks, financial institutions, and virtual asset service providers (VASPs) in the Emirates to put a temporary freeze on the accounts of Satish Sanpal, the 41-year-old Dubai-based Indian-origin businessman who stars in the Netflix docusoap series 'Desi Bling' that shows the lavish lifestyle of Sanpal and his wife Tabinda.Besides the financial services accounts and digital wallets of Satish, the FIU freezing order, issued about a fortnight ago, extends to accounts of Tabinda and companies linked to Sanpals."...you are immediately requested to freeze any funds or accounts or deposits or investments and deny access to the safe deposit boxes, and stop any financial transfers or withdrawals and inform us of any credit facilities belonging to the below mentioned names.." said the FIU communique.132795452The business entities covered in the notice are ANAX Capital Asset ...