Reliance Communications is facing a probe from India's Serious Fraud Investigation Office, it said on Thursday, in a move that will pile more pressure on the insolvent company, which is already under the scrutiny of the country's financial crime-fighting agency, Reuters reported. The company said an SFIO-appointed inspector had asked it and its unit, Reliance Communications Infrastructure, to provide "certain information" for the time period between fiscal year 2009 and 2024, without disclosing further details.

Manipal Education and Medical Group India (MEMG) submitted an expression of interest (EoI) to participate in corporate insolvency resolution process (CIRP) of Think & Learn, the parent company of Byju’s, the Times of India reported. In a statement on Thursday, MEMG India said it sought inclusion in list of prospective resolution applicants and requested access to company’s financial and operational data. This marks the group’s second EoI submission, following an extension of filing deadline to Nov 13.

Ranjan Pai-led Manipal Education & Medical Group Pvt. Ltd. has submitted a second bid to acquire Byju's parent Think & Learn Pvt. Ltd. under insolvency, in what is seen as a move to wrest control of Aakash Educational Services Ltd.—a profitable test-prep coaching centre that Byju's acquired in 2021, the Hindustan Times reported.

India's cabinet has approved spending 450.6 billion rupees ($5.1 ​billion) on support for exporters, including 200 billion rupees in credit guarantees ‌on bank loans, Information Minister Ashwini Vaishnaw said on Wednesday, Reuters reported. The plan includes the allocation of 250.6 billion rupees ‌over six years for affordable trade finance for small exporters, logistics and market support under an export promotion package to help offset the impact of recent U.S. tariff hikes. The new U.S.

Consumer-price growth in India hit a fresh low in October, continuing a trend of declines that has underpinned hopes for interest-rate cuts by the central bank, the Wall Street Journal reported. Inflation cooled more sharply than expected, as food prices contracted and the effects of tax cuts filtered through across sectors. The consumer-price index rose just 0.25% in October—the lowest reading since the data series began in 2012.

The insolvency regulator has proposed mandating bidders for bankrupt firms to disclose beneficial ownerships, a move aimed at curbing misuse of the ‘clean slate’ principle and preventing backdoor entry of disqualified promoters or related parties, the Economic Times of India reported. In a discussion paper, the Insolvency and Bankruptcy Board of India (IBBI) has suggested a standard format for beneficial ownership disclosures by all potential resolution applicants.

A two-member bench of the appellate tribunal said the NCLT should have taken into consideration the directions issued by the Supreme Court in the Mansi Brar Fernandes case, where it was held that real-estate insolvency should be project-specific, the Economic Times of India reported. Moreover, the NCLAT also noticed an intervention application filed by different sets of homebuyers of other projects of Mahagun, where they prayed to set aside the NCLT order directing insolvency against the realty firm.

The National Company Law Appellate Tribunal (NCLAT) recorded the consent terms by Bollywood superstar Salman Khan and Jerai Fitness on mutual settlement, TaxScan.com reported. The bench allowed the withdrawal of his ₹7.24 crore insolvency application bringing an end to the protracted legal battle between the two parties. Salman Khan was named the brand ambassador for Jerai Fitness under a brand endorsement deal, which gave rise to the disagreement.