May 11, 2023

Excavators unearth 700,000

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More than a year after the ₹25,938 crore production-linked incentive (PLI) scheme for India's auto sector came into effect, qualified manufacturers await clarity on whether they will receive sops for the first year of the programme.

Byju's has sued its lender Redwood, an American investment management firm, and its related entities in the New York Supreme Court for accelerating the repayment of a $1.2 billion Term Loan B (TLB). This marks a new twist in the long-drawn saga playing out between the Indian edtech major and its lenders even as Byju's missed its quarterly interest payment of about $40 million for the TLB that was due on June 5.

Sequoia Capital, the marquee Silicon Valley investor in early-stage companies, has broken away from its India and China partnerships, signalling a retreat from Asia for the fund that had backed technology giants Apple and Google in its early days.

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