The Reliance Infratel (RTIL) bankruptcy resolution may be finally headed for a close after two years, the Economic Times of India reported. A Reliance Jio Infocomm arm has recently moved a fresh application in the National Company Law Tribunal (NCLT) Mumbai, offering to deposit the total resolution sum of Rs 3,500 crore in a State Bank of India (SBI) escrow account to acquire RTIL, which houses the tower and fibre assets of bankrupt telco, Reliance Communications (RCom).

Payments and software company Ebix Inc. is seeking to raise cash to pay back some $600 million in debt due early next year, but time is running short as it awaits regulatory approval for a public offering in India while facing allegations of improper accounting from short sellers, WSJ Pro Bankruptcy reported. Nasdaq-listed Ebix, based in Johns Creek, Ga., today does the majority of its business in India.

A bankruptcy court in Mumbai has admitted listed infrastructure firm Valecha Engineering under the Corporate Insolvency Resolution Process (CIRP) and has appointed Anurag Kumar Sinha as the interim resolution professional of the company, the Economic Times of India reported. The State Bank of India (SBI) had filed an application in the Mumbai bench of the National Company Law Tribunal (NCLT) after the company failed to repay its dues exceeding Rs 347 crore.

The Reserve Bank of India's central bank-backed digital rupee was used to settle secondary market transactions in Indian government bonds worth 2.75 billion Indian rupees ($33.29 million) as part of a pilot, data on Tuesday showed, Reuters reported. Trades in a total of three securities –– five-year 7.38% 2027 former benchmark 6.54% 2032 and the current benchmark 7.26% 2032 bonds –– were settled under the new route, data as of 4 p.m. IST (1030 GMT) showed. "Since this was the first day, some deals only in liquid bonds were settled using CBDC," a trader with a state-run bank said.

Insolvency appellate tribunal NCLAT on Friday directed Jet Airways' new owner -- Jalan-Kalrock consortium -- to pay the unpaid provident fund and gratuity dues of employees of the carrier, which is preparing to restart operations, the Times of India reported.

National Asset Reconstruction Company of India (NARCL), the government-promoted bad bank, has given lenders of Meenakshi Energy a Rs 900 crore binding offer to acquire its debt, said two people aware of the development, the Economic Times of India reported. The thermal power company promoted by Hemant Kanoria and his family entered corporate insolvency in November 2019.

Financial analysts said that the Reserve Bank of India’s currency intervention is making the rupee less attractive for carry traders, Bloomberg News reported.Its intervention in the spot and forward markets have helped pushed the 12-month implied yields on the rupee -- typically a reflection of interest rate differentials with the US -- to the lowest since 2011, eroding its appeal.

Indian edtech Byju’s said it has raised $250 million from existing investors led by the sovereign wealth fund Qatar Investment Authority, days after announcing job cuts in a bid to slash costs, Bloomberg News reported. The fundraising keeps Byju’s valuation of $22 billion and its status as India’s most valuable startup, with the bulk of the capital coming from the Qatar fund, a person familiar with the deal said on Monday, asking not to be named as those details are private.

The three countries that helped Moscow to maintain crude exports in the wake of its invasion of Ukraine appear to be stepping back into the market for Russian barrels, with Turkey taking a lead role in the latest buying, Bloomberg News reported. A marked increase in the volume of crude on tankers that have yet to signal a final destination makes the task of monitoring Russia’s exports more complicated, but most of those vessels end up in India, with a smaller number heading further east to China.