Conversive acquires VoxGenie to offer multimodal Voice AI engagement
The acquisition marks a major milestone for Conversive, positioning it as the first omnichannel and multimodal engagement platform, the Pune-based company in a statement without disclosing financial details of the deal.
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India Today
11 minutes ago
- India Today
Indian Army backs IIT Ropar's project to build next-gen surveillance drones
New drone systems under development at IIT Ropar may soon assist the Indian Army in critical surveillance and frontline operations. Inside its Centre of Drones and Autonomous Systems (CoDRAS), a team of researchers and students is working on technologies, learnt the Statesman, that aim to reduce India's dependence on foreign defence focus: building autonomous drones that can land on war-zone terrain and estimate geo-locations in real-time, efforts that reflect India's growing push for indigenous defence job of the team is to fit into a larger national plan which is to reduce India's dependence on foreign drone systems and make its aerial surveillance and response more self-reliant. As part of this, the team is creating next-generation flight algorithms, artificial intelligence for drone navigation, and secure communication elements are being designed to help India's defence forces monitor, respond, and operate with greater control, and without fear of sensitive data leaving national BACKS IIT ROPAR'S DRONE TECH PROJECTSTwo major projects are currently in advanced development. Both have been initiated at the request of the Indian first involves autonomous landing capabilities for drones in war zones, a task that requires precision, reliability, and the ability to adapt to dynamic and rugged terrain. The second project focuses on real-time geo-location and aerial latter project involves more than just mapping. Led by Principal Investigator Dr Jha, with Senior Research Fellow Shivam Kainth and Research Intern Kanwarveer Singh, the team is developing systems that allow drones to identify objects, detect movement, and track changes in physical landscapes, including in thick has direct applications for border surveillance, particularly in areas where human patrol is difficult and visual clarity is a related move, IIT Ropar has also signed an MoU with AVPL, a Gurugram-based drone technology both are planning to develop fully indigenous drones, including the hardware, software, and intelligence that runs will ensure that the entire supply chain, from design to deployment, remains under Indian is happening at IIT Ropar is quiet but determined, a steady step toward technological self-reliance, grounded not in theory, but in readiness for what may come next.- EndsMust Watch
Mint
21 minutes ago
- Mint
Vedanta rejects Viceroy Research's ₹2,500 crore loan routing claim, says ‘executed in full compliance…'
Mining giant Vedanta Ltd rejected Viceroy Research's allegations about the company's subsidiary Vedanta Semiconductors Pvt. Ltd (VSPL) routing ₹ 2,500 crore loans in a 'sham operation', stating that the loan transactions were executed in full compliance with the applicable laws, reported the news agency PTI on Sunday. Vedanta 'strongly rejects the baseless allegations made in the report regarding Vedanta Semiconductors Pvt Ltd (VSPL),' the report citied a statement by company's spokesperson. 'All business activities of VSPL have been transparently disclosed and are in line with statutory norms,' the company said. The company spokesperson added that Vedanta Ltd. and VSPL have 'consistently reported' the accurate transaction terms, rates, and collateral as per the mandated norms. 'Loans between VSPL and Vedanta Ltd were executed in full compliance with applicable laws, corporate governance standards, and both Vedanta Ltd and VSPL have consistently reported accurate loan terms, interest rates, and collateral in line with statutory norms,' a Vedanta spokesperson told the news agency. The company also reportedly asked the stakeholders to rely on verified disclosures and audited financial statements. Viceroy Research openly disclosed its short position against the debt of Vedanta Resources, the parent company of the Indian mining giant, on 9 July 2025, when they claimed that the company is 'systematically draining' its Indian subsidiary. In the latest development on the allegations saga, the US-based short seller, Viceroy Research, alleged that under the pressure to pay the brand fees, Vedanta Ltd routed ₹ 2,500 crore 'Under pressure to pay brand fees, VEDL routed a ₹ 2,500 crore loan through a company doing ₹ 416 crore in sham operations, hoping regulators didn't look,' said the short seller in its latest report. Viceroy Research released its latest report titled 'Vedanta – Vedanta Semiconductor: ₹ 2,500 Crore Dhoke Ka Sammraajy' on Friday, 18 July 2025. The report further alleged that VSPL is a 'sham commodities trading operation' which has been designed to avoid the classification of coming under a non-banking financial company (NBFC). 'We believe that Vedanta Limited (VEDL) subsidiary, Vedanta Semiconductors Private Limited (VSPL), is a sham commodities trading operation designed to improperly avoid classification as a Non-Banking Financial Company (NBFC),' they said in the report. They also claimed that the alleged loan routing was devised to facilitate Vedanta's remittance of brand fees to its parent company when it faced a severe liquidity crunch. 'This scheme was devised to facilitate VEDL's remittance of brand fees to Vedanta Resources' (VRL) in April 2025, when it faced a severe liquidity crisis,' said Viceroy. According to the report released on Friday, the short seller claims that Vedanta Semiconductors Private Limited needs an 'operational illusion' of 24 months or 2 years to fulfil its dues to its offshore lenders and hide the 'near-catastrophe' of April 2024. They also said that even though the credit rating analysts are 'snoozing through the alarm bells,' the Indian regulators are 'famously light sleepers.' 'VSPL's operational illusion needs 24 months of regulatory silence to fulfil its purpose, repaying its offshore lenders and hiding the near-catastrophe of April 2024. While credit analysts are snoozing through the alarm bells, India's regulators are famously light sleepers,' claimed the short seller in its latest report. In April 2024, the company faced a severe liquidity crisis. The loans granted were allegedly used to fund the May dividend issue and not to pay the brand fees. 'The loan was intended to be used to send up the brand fees but, by the time JPM had sold the debt in the market, they had already been paid so the loan was used to fund the May dividend,' claimed the sort seller in the research report. 'In response, VEDL reactivated VSPL, not as a semiconductor venture, but as a zero-margin trading entity whose operations appear to consist entirely of paper-based commodity trading.' Vedanta share price closed 0.33% higher at ₹ 445.70 after Friday's stock market session, compared to ₹ 444.25 at the previous market close, according to BSE data. Former Chief Justice of India (CJI) D Y Chandrachud said that Viceroy Research's report on Vedanta 'lacks credibility' and that the company would be well-positioned to seek legal help in the case. This comes after Vedanta asked for an independent legal opinion on the matter. Chandrachud also highlighted that the US-based firm has a track record of taking short positions in listed companies then publishing 'misleading' reports to unlawfully profit from the stock market impact.
Time of India
23 minutes ago
- Time of India
Viceroy alleges Vedanta Semiconductor is a ₹2,500-cr sham; co says baseless
Continuing its triad against mining Moghul Anil Agarwal's Vedanta group, US-based Viceroy Research has alleged that the group's semiconductor unit was a "sham commodities trading operation", designed to avoid classification as an NBFC, a charge the mining conglomerate dismissed as short seller Viceroy Research, which last week published a scathing report about Vedanta Group and followed it with similar reports on group companies, in fresh allegations said Vedanta Ltd's subsidiary, Vedanta Semiconductors Pvt Ltd, was part of a scheme to allow the Mumbai-listed firm to remit brand fees to parent Vedanta Resources in April this year, when it faced a severe liquidity crisis. In a statement, Vedanta spokesperson said the group "strongly rejects the baseless allegations made in the report regarding Vedanta Semiconductors Pvt Ltd (VSPL)". "All business activities of VSPL have been transparently disclosed and are in line with statutory norms," it said. Viceroy said, "VSPL is a sham commodities trading operation designed to improperly avoid classification as a Non-Banking Financial Company (NBFC)". "This scheme was devised to facilitate Vedanta Ltd 's remittance of brand fees to Vedanta Resources' (VRL) in April 2025, when it faced a severe liquidity crisis," Viceroy said. "VSPL's operational illusion needs 24 months of regulatory silence to fulfil its purpose, repaying its offshore lenders and hiding the near-catastrophe of April 2024. While credit analysts are snoozing through the alarm bells, India's regulators are famously light sleepers." In April 2024, Vedanta Limited (VEDL) faced a severe liquidity crisis. "In response, VEDL reactivated VSPL, not as a semiconductor venture, but as a zero-margin trading entity, whose operations appear to consist entirely of paper-based commodity trading." "VSPL tapped offshore lenders for a short-term, INR-denominated, 10 per cent NCDs secured by VEDL's stake in HZL (equivalent to 1 per cent of outstanding shares). VSPL then began trading commodities (copper, silver, gold) on a zero-margin basis reminiscent of wash trading," Viceroy alleged. VSPL, it said, remitted the loan to VEDL as a 24-month 12 per cent loan, with the spread intended to cover the sham operation's costs. The semiconductor unit, superficially an operating entity, would face reduced scrutiny for loan repayments under FEMA, Companies Act, PMLA and AML frameworks. "VSPL will likely have to continue these sham operations until FY27, when the loans fall due and repayment will have to be routed back through it. If, at any point, the regulators intervene at VSPL, the lender group is likely facing a total wipeout," the US short-seller alleged. Vedanta spokesperson in the statement said, "Loans between VSPL and Vedanta Ltd were executed in full compliance with applicable laws, corporate governance standards, and both Vedanta Ltd and VSPL have consistently reported accurate loan terms, interest rates, and collateral in line with statutory norms," it said, adding that it would encourage stakeholders to only reply on verified disclosures and audited financials. Viceroy, on July 9, said it has taken a short position against the debt of Vedanta Resources, the UK-based parent of Indian miner Vedanta Ltd, and alleged in the report that the British firm is "systematically draining" its Indian unit. Vedanta had dismissed the report as "a malicious combination of selective misinformation and baseless allegations", and that Research issued it without contacting the group. Viceroy, in its latest report, said despite Vedanta's claim that it failed to engage, it is yet to receive a response to the issues flagged since July 9. "For a company so quick to dismiss our findings, one might expect answers to be equally swift. It's been over a week since we formally requested clarification," the short seller added.
