India’s central bank Governor Shaktikanta Das said an interest rate cut at this stage would be “very, very risky” and he’s in no hurry to join the wave of easing by global policymakers, Bloomberg News reported. While inflation is expected to moderate, there are “significant risks” to the outlook, Das told Bloomberg News Deputy Editor-in-Chief Reto Gregori at the India Credit Forum in Mumbai on Friday. Inflation and growth dynamics are well balanced, he said, but policymakers need to remain vigilant about price pressures.

Rhythm House, the iconic music store in South Mumbai’s cultural and heritage precinct Kala Ghoda, has found a new owner. Bhaane Retail, a subsidiary of Shahi Exports, India's largest apparel manufacturer, has emerged as the highest bidder for the property in an insolvency auction with a Rs 30-crore offer, the Economic Times of India reported. A cultural landmark since the 1940s, Rhythm House was a favourite haunt for music lovers and Bollywood icons including Kishore Kumar, Shammi Kapoor, Dharmendra, Nargis and AR Rahman before closing its doors in 2016 after nearly 70 storied years.

The National Company Law Tribunal (NCLT) faces significant operational challenges due to vacant positions, a Times of India report highlighted on October 15. Out of the 63 sanctioned seats, including the president, 19 are vacant. At the end of September, 11 members retired, adding to the existing eight vacancies, the report (by Sidhartha) said. Currently, only 13 out of 30 courts are operational full-day while 12 function for half-day because of the shortage of members.

Aerospace and defense manufacturer Moog has agreed to pay $1.7 million to settle allegations its India subsidiary bribed officials to secure contracts with Indian government officials and to eliminate competitors from the bidding process, the Wall Street Journal reported. Moog, of East Aurora, N.Y., agreed to pay a civil penalty of $1.1 million and to pay disgorgement and prejudgment interest of around $600,000. The company, which didn’t admit to or deny the Securities and Exchange Commission charges, also agreed to cease and desist from future such conduct.

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has cautioned homebuyers against buying any properties in a total 314 projects registered with the authority that are undergoing proceedings at the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code (IBC) of 2016, the Economic Times of India reported. Various banks, financial institutions, and other entities extending line of credit to the real estate sector have initiated the Corporate Insolvency Resolution Process (CIRP) against these companies.

The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against Syska LED Lights, admitting the plea filed by its operational creditor -- Sunstar Industries, the Economic Times of India reported. Syska LED Lights, part of Pune-based SSK Group, operates in segments such as LED lights, personal care appliances, mobile accessories, home appliances, and smart watches.

A software company controlled by Indian entrepreneur Byju Raveendran drained cash from U.S. affiliates in violation of US bankruptcy rules, according to a lawsuit filed Tuesday in federal court in Delaware, Bloomberg News reported. Money that should be used to repay creditors was instead siphoned off to Whitehat Education Technology, a court-approved trustee for the affiliates said in court papers. The trustee, bankruptcy attorney Claudia Springer, sued to get back nearly $700,000 that was moved from entities under her control.

India’s central bank kept its benchmark rate unchanged, staying focused on inflation amid geopolitical tensions, but shifted its policy stance in a potential sign that the door to rate cuts is open, the Wall Street Journal reported. The Reserve Bank of India’s monetary-policy committee voted five to one to maintain the policy repo rate at 6.50%, Gov. Shaktikanta Das said Wednesday. The committee also decided unanimously to change the policy stance to neutral from a “withdrawal of accommodation,” he added.

The Bombay High Court on Friday directed the Slum Rehabilitation Authority (SRA) to release the transit rent of a cancer patient who vacated his premises in 2013, but had not been paid the transit rent for the last seven years as insolvency proceedings were initiated against the builder, Darshan Developer, the Free Press Journal reported.