Fractal Analytics files DRHP targeting Rs 4,900 crore IPO
Fractal Analytics has filed its draft red herring prospectus with Sebi for a Rs 4,900 crore IPO, targeting a December listing on NSE and BSE. As India's first AI firm to go public, it reported Rs 2,765.4 crore revenue in FY25. Major shareholders Apax and TPG will offload shares worth Rs 3,461 crore.
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NDTV
37 minutes ago
- NDTV
Kerala High Court Serves Ultimatum To Centre To Decide On Loan Waiver For Wayanad Landslide Victims
Kochi: The Kerala High Court on Wednesday issued a stern ultimatum to the Central government, granting it one final opportunity to convey its decision on waiving off loans taken by victims of the Wayanad landslides. A division bench of Justices A.K. Jayasankaran Nambiar and Jobin Sebastian was hearing a suo motu case initiated following the devastating landslide that struck Wayanad on July 30, 2024. When the matter came up, the court inquired about the Centre's position on the loan waiver. The Additional Solicitor General, appearing for the Centre, informed the bench that no final decision had been communicated to him yet, but assured that he would update the court by September 10. Taking note of the prolonged delay, the bench ordered: "Post these matters on 10th September. This is the last chance for the Central government to revert to this court regarding their decision on the loan waiver." In previous hearings, the ASG had explained that the matter had moved from the Ministry of Home Affairs to the Department of Expenditure and subsequently to the Finance Ministry, where it is pending further instructions. This is not the first time the court has expressed dissatisfaction with the Centre's approach. In April, the High Court had criticised the Union government and the National Disaster Management Authority for inaction and urged them to emulate Kerala Bank's example, which wrote off Rs 5 crore worth of loans owed by affected residents. According to court records, 12 banks collectively hold 3,220 accounts in the landslide-hit region, with total exposure amounting to Rs 35.30 crore. The bench had earlier reminded the Centre of its responsibility as the chief executive in a welfare state, urging it to aid citizens who lost their livelihoods, instead of allowing banks to adopt a 'Shylockian' approach towards borrowers. The July 30, 2024, disaster decimated four villages, injured hundreds, claimed over 200 lives, and left 32 people still missing. Survivors continue to face financial hardship as they struggle to rebuild their lives.
Time of India
37 minutes ago
- Time of India
Panel planned to shield landowners from bank recovery claims
Thiruvananthapuram: The state govt is set to form a special committee to protect landowners affected by the Vizhinjam–Navaikulam Outer Ring Road (ORR) project from potential bank recovery actions. Many of these landowners had mortgaged their properties for loans, but submission of land documents to revenue offices two years ago for preliminary scrutiny has since blocked them from completing legal or land transactions. Sources close to chief minister's office said the CM will personally review cases close to recovery proceedings. "This committee will prevent banks from forcibly auctioning properties while acquisition processes remain stalled," a source noted ahead of the official announcement. Action council convener S Chandramohan Nair welcomed the move, calling it "a relief for many landowners who surrendered their properties for acquisition." He urged the state to expedite the process, noting that PWD minister P A Mohammed Riyas had promised to raise the issue with NHAI. The ORR project, planned under Bharatmala Pariyojana, aims to decongest the city by linking Vizhinjam International Seaport to NH 66 at Navaikulam, spanning 62–80 km at an estimated cost of Rs 8,000 crore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Unsold 2021 Cars Now Almost Free - Prices May Surprise You Unsold Cars | Search Ads Learn More Undo While the southern stretch from Vizhinjam to Thekkada cleared environmental hearings in 2023, the northern section remains stuck. A Supreme Court ruling on May 16 invalidated post-facto clearances and the lapse of the state environment impact assessment authority (SEIAA) in March delayed further approvals, shifting authority to the Union ministry. As a result, compensation payments have been frozen despite Rs 700 crore being transferred to NHAI in January. Land acquisition costs have risen from Rs 1,800 crore to nearly Rs 3,800 crore, with current valuations expiring in Aug. Under the Land Acquisition Act, delays incur 12% annual interest, increasing pressure on both state and central govts. A high-level meeting chaired by principal secretary to the CM, K M Abraham, has been rescheduled to Aug 20 and will include officials from PWD, NHAI, revenue, and possibly the new landowner committee. Minister Riyas, overseeing ORR matters, is expected to discuss progress with NHAI at state and central levels. He had earlier said Central approval for the Detailed Project Report (DPR) would arrive by July-end, enabling compensation and tendering. However, an RTI filed in mid-July revealed the DPR is still incomplete, raising fresh concerns over transparency. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Business Standard
39 minutes ago
- Business Standard
India builds 10,660 Km of highways in FY25, Eyes Rs 3 trillion push, Road Minister Ajay Tamta to boost road reforms at RAHSTA Expo 2025
VMPL New Delhi [India], August 13: India's highway expansion continues at a strong pace, with the Ministry of Road Transport and Highways (MoRTH) constructing 10,660 km in FY 2024-25--exceeding its target of 10,421 km. In FY 2025-26, the Ministry aims to award projects worth Rs 3 trillion, with 1,994 km already built in the current fiscal. To sustain this momentum, MoRTH is focusing on faster execution, improved quality, and financing innovation--including asset monetisation worth Rs 330 billion, up from Rs 287.24 billion during FY 2024-25. Underscoring these efforts, Minister of State Ajay Tamta will be the Chief Guest at the upcoming RAHSTA Expo & Conference 2025, to be held on September 3-4 at the Jio World Convention Centre, Mumbai. As India's leading platform for sustainable road infrastructure, RAHSTA will bring together policymakers, engineers, contractors, and technology providers to discuss innovations and challenges in highway development. Highlighting MoRTH's commitment to long-term safety and technical excellence, Tamta said, "The Ministry is reinforcing its quality regime through independent testing labs, regular audits, punitive accountability for both contractors and supervising officers, performance-based blacklisting, digital defect tracking, and public transparency." To streamline project delivery, MoRTH has mandated key pre-construction clearances from 1 June 2025-- including completing Section 3D notifications for over 90 per cent Right of Way, land compensation under Section 3G of the NH Act, and full statutory and technical approvals--prior to awarding National Highway contracts. For standalone Road Over Bridge (ROB) projects, 100 per cent RoW for 1 km on either side is now required. The Ministry has also enhanced its Bhoomi Rashi portal with PFMS and e-KYC integration, enabling faster and more transparent resolution of land acquisition issues. Road quality and contractor performance are being monitored through drone-based inspections, NSV audits, and performance ratings. Meanwhile, the Ministry has sanctioned 8,391 km of High-Speed Corridors (HSCs), of which 5,109 km (including 2,242 km of expressways) have already been constructed including landmark corridors such as the Delhi-Meerut Expressway, Eastern Peripheral Expressway, Ahmedabad-Vadodara Expressway, and upcoming projects like Raxaul-Haldia and Madurai-Kollam. RAHSTA (Roads and Highways Sustainable Technologies & Advancement) is Asia's premier platform dedicated to innovation and sustainability in road infrastructure. Organised by the FIRST Construction Council, the 2025 edition will showcase cutting-edge technologies, sustainable materials, and smart engineering solutions for a future-ready transport network. For more information about RAHSTA Expo & Conference 2025, contact:
