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News on Medial
Investors of CIG Realty Fund move SAT against trustees for ‘breach of trust’
Livemint
·
1y ago
Medial
Investors in CIG Realty Fund have filed a complaint with the Securities Appellate Tribunal (SAT) against the fund's trustees, alleging breach of contract. The investors claim that the schemes offered by the fund were wrongfully extended beyond the permitted time, causing inconvenience. The fund was registered as a venture capital fund in 2005 and investors have collectively invested around ₹650 crore. The SAT will take up the matter on 26 July. The trustees of the fund had previously challenged an order by the Securities and Exchange Board of India (Sebi) to winding up the schemes.
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Morocco's CDG Invest Growth to strike a fresh bet from latest fund
VCCircle
·
1y ago
Medial
CDG Invest Growth (CIG), the private equity arm of Morocco's CDG, is expected to make its fourth deal from its latest investment fund. CIG focuses on investing in Moroccan small and mid-sized companies and is likely to acquire a 20% minority stake.
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Knowledge Realty REIT raises Rs 1620 crore from anchor investors ahead of IPO; Jhunjhunwala among investors
Economic Times
·
4d ago
Medial
Knowledge Realty Trust REIT has raised Rs 1,620 crore from anchor investors ahead of its IPO, with investors including LIC, Jhunjhunwala Trust, and others. The IPO, set to open for public subscription, aims to raise Rs 4,800 crore through a fresh issuance. The funds will primarily repay existing debt. This marks the first REIT IPO under Sebi's new regulations. The sponsors include Sattva Developers, with Axis Trustee and Knowledge Realty Office Management Services managing the issue.
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Morocco's CDG Invest Growth to strike a fresh bet from latest fund
VCCircle
·
1y ago
Medial
CDG Invest Growth (CIG), the private equity arm of Morocco's CDG, is expected to make its fourth investment from its latest fund. CIG focuses on investing in small and mid-sized companies in Morocco, and this deal will involve acquiring a 20% minority stake in a company.
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How Tata Trusts are navigating life after Ratan Tata
Livemint
·
9m ago
Medial
Sir Ratan Tata Trust and Sir Dorabji Tata Trust, which together own over half of the shares of Tata Sons, have made their trustees permanent members. This decision ends the previous practice of appointing them for fixed terms. In addition, naming of Noel Tata as the third executive on the board of Tata Sons was approved. The board's resolution is expected to be approved at the next meeting of Tata Sons. This move marks a significant change in the governance structure of the Tata Group conglomerate.
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Byju's legal battles: US court ruling, new RP and whistleblower claims
Economic Times
·
5m ago
Medial
Byju’s is facing legal challenges after the US Bankruptcy Court in Delaware found that founder Byju Raveendran and others defrauded its US entity and lenders. Allegations include fund misappropriation and breach of duties. In India, Glas Trust is pursuing legal action against Byju's in the NCLT. Raveendran has accused Glas Trust, EY, and a former resolution professional of collusion, demanding an investigation. A new resolution professional has been appointed amid ongoing disputes.
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Acquisition gone wrong: Saarthi and investors file lawsuit against Classplus
Startup News FYI
·
1y ago
Medial
Edtech startup Saarthi, along with its co-founder Chiraag Kapil and a group of investors, has taken legal action against Classplus in the Delhi High Court (HC) over allegations of cheating and criminal breach of trust. The lawsuit centers around Classplus' acquisition of Saarthi in 2022 and subsequent discrepancies in the execution of the deal.
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Lilavati Hospital Trustee Files Fraud Case Against HDFC Bank CEO in Explosive Claim
StartupTalky
·
2m ago
Medial
The conflict at Lilavati Kirtilal Mehta Medical Trust (LKMMT) has escalated as trustee Prashant Mehta filed a fraud case against HDFC Bank CEO Sashidharan Jagdishan and seven former trustees, alleging embezzlement and deceit. The accusations include targeting founder trustee Kishor Mehta and hindering loan recovery. The FIR follows court orders and involves claims of bribery and unauthorized financial activities, with HDFC refuting the charges, labeling them a strategy to thwart recovery efforts.
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Elliott builds $1.5-billion stake in Hewlett Packard Enterprise
Economic Times
·
3m ago
Medial
Hedge fund Elliott Investment Management has acquired a $1.5 billion stake in Hewlett Packard Enterprise (HPE), becoming one of its largest investors. This strategic move may involve Elliott engaging with HPE's management, potentially advocating for changes amid declining shares and financial pressures. Known for significant technology investments and board influence, Elliott remains active despite market volatility, pursuing campaigns like seeking board seats at Phillips 66 and holding stakes in companies like BP and Sumitomo Realty & Development.
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Following WazirX’s $230 Mn Crypto Hack, CoinDCX Sets Up INR 50 Cr Crypto Investors Protection Fund
Inc42
·
1y ago
Medial
CoinDCX has established a crypto investors protection fund (CIPF) in response to the recent WazirX hack. The CIPF aims to compensate users for any losses resulting from security breaches or other adverse incidents. CoinDCX plans to contribute 2% of its brokerage income to the fund, along with annual revisions and an increase in the fund's size over time. This move seeks to build trust within the Indian crypto ecosystem.
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Outflows from Grayscale bitcoin ETF hit $1.9 billion in single week
Economic Times
·
1y ago
Medial
Last week, Grayscale Bitcoin Trust experienced $1.9 billion in outflows, resulting in net outflows for the group of U.S. spot bitcoin exchange-traded funds (ETFs), as reported by BitMEX Research. While new funds from BlackRock and Fidelity Investments have shown buying interest since the approval of cryptocurrency ETFs by the U.S. Securities & Exchange Commission in January, the outflows from Grayscale have surpassed the inflows. This is due to high management fees compared to its rivals and selling by bankruptcy trustees. In contrast, BlackRock's iShares Bitcoin Trust has seen significant gains, reaching $10 billion in assets.
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