business news

In a landmark verdict, Indian-American entrepreneur Rishi Shah, co-founder of Outcome Health, has been sentenced to seven and a half years in prison by a US court. The sentencing comes in the wake of a massive $1 billion fraud scheme that has rattled high-profile investors including Goldman Sachs Group Inc., Alphabet Inc. (Google's parent company), and Illinois Governor JB Pritzker's venture capital firm.

Toyota Kirloskar Motor (TKM) has reported a significant 40% year-on-year growth in sales for the month of June, marking its highest-ever monthly sales performance. The company sold 27,474 units compared to 19,608 units in June last year. Additionally, TKM exported 1,722 units during the same period.

Air India has unveiled ambitious plans to establish South Asia's largest Flying Training Organisation (FTO) in Maharashtra's Amravati, with operations set to commence by early 2026. This initiative marks a significant milestone as the first FTO by any Indian airline in the country.

In response to the devastating impact of recent heavy rainfall in Delhi, the state government has announced a compensation package of ₹10 lakhs for the families of those who lost their lives. The announcement, made by Minister Atishi on Sunday, aims to provide support to affected families following the tragic events caused by intense monsoon showers on June 28.

Online food delivery giant Zomato has found itself in the midst of a fiscal challenge, as it disclosed receiving a Goods and Services Tax (GST) demand notice totaling ₹9.5 crore from Karnataka's Assistant Commissioner of Commercial Taxes (Audit). This development comes following an audit of Zomato's GST returns and accounts for the fiscal year 2019-20.

Gaurav Munjal, Co-founder and CEO of Unacademy, has openly criticized Byju Raveendran, Founder and Group CEO of Byju's, attributing the edtech firm's recent setbacks to Raveendran's failure to heed advice from others.

A casual Tinder date took a sinister turn for a civil service aspirant who ended up paying a staggering ₹1,21,917.70 bill at a café in East Delhi, falling victim to an elaborate scam orchestrated by a group exploiting dating apps for financial gain.

Tata Group and Infosys have once again emerged at the forefront of Brand Finance's latest report on the most valuable Indian brands for 2024. The annual India 100 report, compiled by Brand Finance, assessed over 250 Indian brands across various sectors including IT, hospitality, automotive, and retail.

In a significant move aimed at addressing housing needs and boosting economic growth, Maharashtra's Interim Budget for 2024-2025 has earmarked ₹7425 crore for the construction of 35 lakh affordable homes over the next five years. Finance Minister Ajit Pawar announced this ambitious initiative during his budget presentation, highlighting various housing schemes including the Pradhan Mantri Awas Yojana (PMAY) that will facilitate this massive construction project.

In a surprising turn of events, a Mumbai resident, Ahsan Kharbai, received a call from Flipkart customer support regarding an order he placed six years ago. The unusual incident has gained significant attention after Ahsan shared his experience on the social media platform X, along with a screenshot of his order history. The order in question, for a pair of Sparx slippers, was placed in May 2018 and has yet to be delivered.