nanika Editor

The Central Bureau of Investigation has filed its first chargesheet in a major case linked to the Reliance ADA Group. Submitted before a Special CBI Judge in Mumbai, the chargesheet names 16 accused individuals and entities, including Reliance Communications Limited (RCom), senior corporate executives, and several public sector bank officials. The investigative agency has leveled serious charges of criminal conspiracy, cheating, criminal misappropriation, and criminal misconduct. Among those accused are five senior RCom executives and 10 bank officials from the State Bank of India, Bank of Maharashtra, and the erstwhile Syndicate Bank. At the heart of the probe is the…

In India’s hyper-competitive consumer tech arena, Swiggy is drawing a line in the sand. CEO Sriharsha Majety has announced a deliberate decision to step back from the aggressive spending war currently being waged by deep-pocketed giants like Amazon, Walmart-backed Flipkart, and Mukesh Ambani’s Reliance Retail. As these conglomerates battle to dominate the ten-minute delivery space with deep discounts, Swiggy is shifting its focus toward profitability and capital restraint. Following a challenging period—including a 30 percent dip in share value this year and slowing growth at its Instamart unit—investors have demanded a clear roadmap to profitability. Majety’s response is to reject…

In a major legal victory for US e-commerce giant Amazon, the Supreme Court of India on Wednesday set aside the ₹202 crore penalty imposed on the company by the Competition Commission of India (CCI). The top court also overturned the June 2022 order of the National Company Law Appellate Tribunal (NCLAT), which had previously rejected Amazon’s appeal against the suspension of its 2019 investment deal with the Future Group. A bench comprising Justices Vikram Nath and Sandeep Mehta delivered the landmark verdict, effectively striking down both the NCLAT judgment and the CCI’s December 2021 order. The antitrust regulator had initially…

Telecom giant Bharti Airtel has strongly defended its newly launched "Priority Postpaid" service, telling a Department of Telecommunications (DoT) panel that the offering does not violate India’s net neutrality norms. The service, which rolled out on May 19, promises consistent, high-speed connectivity for premium postpaid users, even in heavily crowded market areas. Responding to clarifications sought by the Committee on Communications and Information Technology, Airtel emphasized that the service is powered by 5G network slicing. The company explicitly stated that the feature operates in a "content-neutral" manner. According to Airtel, the architecture involves absolutely no blocking, throttling, or preferential treatment…

Schneider Electric expects its India data center business to outpace its core operations over the next four to five years. Driven by a surging demand for AI-ready infrastructure, the segment currently accounts for 15 to 20 percent of the company’s India revenue. Speaking to Reuters, Sumati Sahgal, Vice-President for Secure Power and Data Centres, Greater India Zone, highlighted that data centers and grid modernization will remain the company’s strongest growth themes. According to industry data from Astute Analytica, India's data center market is projected to skyrocket to over 31 billion dollars by 2035, maintaining a compounded annual growth rate of…

Billionaire Sajjan Jindal’s automotive venture, JSW Motors, has secured a massive ₹8,000 crore ($826 million) funding line from the State Bank of India (SBI). This major financial backing ensures the company’s ambitious plans for its new energy vehicle business remain firmly on track. According to sources familiar with the matter, the credit facility from India’s largest lender carries a tenor of more than 10 years. A spokesperson for JSW Motors confirmed that the capital will partially fund a greenfield manufacturing facility in Maharashtra. To manage its exposure, SBI may later sell down parts of the loan to other lenders in…

Food and beverages giant PepsiCo India has announced a major investment plan of up to ₹5,700 crore by 2030. The massive capital injection will primarily focus on ramping up the manufacturing capacity of its foods business across the country. Speaking on the initiative, PepsiCo’s India and South Asia CEO, Jagrut Kotecha, emphasized that India remains one of the company's top 13 global markets, offering immense potential driven by rising consumer incomes and a stable economic environment. The planned investment will be directed toward three key manufacturing facilities. These include a strategic concentrates plant in Madhya Pradesh and advanced snacks plants…