Author: Legal Parivar

Hyderabad-based software-as-a-service (SaaS) company Darwinbox has secured $40 million (around ₹350 crore) in funding from the Ontario Teachers’ Pension Plan (OTPP), the company announced on Thursday. The investment, made through OTPP’s late-stage and growth arm Teachers’ Venture Growth (TVG), comprises both primary and secondary transactions at a blended valuation of about $1 billion. As part of the secondary sale, Peak XV Partners partially exited its stake in the firm. Darwinbox said the fresh capital will support its global expansion—particularly in North America—to meet rising demand for modern alternatives to legacy HR software. Since entering the US market in 2022, the…

On the eve of a crucial summit with Russian President Vladimir Putin in Alaska, U.S. President Donald Trump claimed that his tariffs on India had “essentially removed” the country from purchasing Russian oil — a move he suggested may have influenced Moscow’s readiness to negotiate. Speaking to Fox News Radio’s The Brian Kilmeade Show on Thursday, Trump said he believed Putin “wants to get it done” and is prepared to strike a deal when the two leaders meet on Friday. “Everything has an impact,” Trump said, referring to his economic measures, particularly secondary tariffs targeting India. “When you lose your…

Prime Minister Narendra Modi on Thursday commended President Droupadi Murmu for her “thoughtful” address to the nation on the eve of India’s 79th Independence Day, praising her focus on the country’s collective progress, economic growth, and vision for the future. In a post on X (formerly Twitter), PM Modi wrote: “On the eve of our Independence Day, Rashtrapati Ji delivered a thoughtful address highlighting the collective progress of our nation and the opportunities ahead. She reminded us of the sacrifices that secured our freedom and urged every citizen to contribute towards nation-building.” President Murmu’s Address: Key Highlights In her national…

Nasdaq-listed renewable energy giant ReNew Energy Global has reported a remarkable thirteen-fold surge in net profit to ₹513.1 crore for the April–June quarter of FY26, compared to ₹39.4 crore in the same period last year. The sharp jump was driven by strong growth in solar module sales and higher power generation revenues. According to the company’s statement, total income rose 65% year-on-year to ₹4,118.2 crore in Q1 FY26. Power sales revenue for the quarter stood at ₹2,547.3 crore ($297 million), up from ₹2,233.5 crore ($260 million) in Q1 FY25, while module and cell manufacturing operations contributed ₹1,322.3 crore ($154 million).…

The Supreme Court has directed the Election Commission of India (ECI) to publicly release names of around 65 lakh voters removed from Bihar’s draft electoral rolls, along with reasons for deletion. The data must be uploaded on each district electoral officer’s website and physically displayed at Panchayat Bhawans, block offices, and panchayat offices. Publicity through newspapers, Doordarshan, radio, and official social media is also mandatory. The order comes amid allegations of large-scale deletions during Bihar’s Special Electoral Revision (SIR). The SC also asked ECI to file compliance reports before the next hearing on August 22 and to provide details of…

The Indian equity and commodity markets will remain closed on Friday, August 15, 2025, in observance of the nation’s 78th Independence Day. Trading will resume on Monday, August 18, 2025. Equity Market Closure Both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) will be shut for all segments, including: This closure is part of the official trading holiday calendar for the year. Commodity Market Closure Major commodity platforms will also observe a full-day shutdown: The synchronized closure across equity and commodity markets will give traders and investors a long weekend, but they may anticipate volatility when markets reopen…

Vodafone Idea Ltd (Vi) has appointed Abhijit Kishore as its new Chief Executive Officer (CEO) and key managerial personnel for a three-year term, effective August 19, 2025. The appointment follows the completion of outgoing CEO Akshaya Moondra’s tenure, which ends on August 18. Kishore takes charge at a critical time for the debt-laden telecom operator, which continues to grapple with adjusted gross revenue (AGR) liabilities and is seeking fresh debt financing. The company remains in discussions with the Department of Telecommunications (DoT) and the government for clarity and potential relief — a crucial step for enabling future fundraising. A Veteran…

India and China are moving towards restoring border trade and direct air connectivity, channels that have been shut for more than five years. The diplomatic push comes ahead of Chinese Foreign Minister Wang Yi’s visit to New Delhi on August 18 for boundary talks with National Security Adviser Ajit Doval. Border Trade Through Three Himalayan Passes The Ministry of External Affairs (MEA) confirmed discussions are underway to resume trade at the three designated border points: Lipulekh Pass (Uttarakhand), Shipki La (Himachal Pradesh), and Nathu La (Sikkim). MEA spokesperson Randhir Jaiswal stated, “We have remained engaged with the Chinese side to…

The Finance Ministry welcomed S&P Global Ratings’ decision to upgrade India’s long-term sovereign credit rating to ‘BBB’ from ‘BBB-’ and the short-term rating to ‘A-2’ from ‘A-3’, both with a Stable outlook. The move reflects India’s economic resilience, sustained fiscal consolidation, and robust growth trajectory. This marks the first S&P upgrade since January 2007, when India was elevated to investment-grade ‘BBB-’. The ‘BBB’ rating is the lowest investment-grade level, indicating adequate capacity to meet financial obligations, albeit with moderate credit risk. In a statement, the Finance Ministry said the upgrade underscores India’s commitment to fiscal discipline, infrastructure expansion, and inclusive…

Vodafone Idea reported a net loss of ₹6,608 crore for the quarter ended June 2025, compared to a loss of ₹6,432 crore in the same period last year. Revenue from operations grew 5% YoY to ₹11,023 crore from ₹10,508 crore in Q1FY24. The company’s Average Revenue Per User (ARPU) stood at ₹177, marking a 15% YoY growth from ₹154 in the year-ago quarter. EBITDA rose 10% to ₹4,612 crore versus ₹4,205 crore last year, with EBITDA margin improving by 180 bps to 41.8% from 40%. On August 14, 2025, Vodafone Idea shares closed at ₹6.15, down 3.31% on NSE. The…