Electric taxi operator BluSmart has begun insolvency proceedings amid rising corporate governance concerns, according to a Reuters report. The development comes after a regulatory probe that accused a co-founder of misappropriating funds intended for vehicle purchases, according to the firm overseeing the resolution process.

The Ahmedabad bench of the National Company Law Tribunal (NCLT), in its ruling, named NPV Insolvency Professionals as the interim resolution professional (IRP) and directed them to take charge of BluSmart’s operations and assets while maintaining it as "a going concern".

Russia-backed Indian refiner Nayara Energy, recently sanctioned by the European Union, has turned to domestic firm Rediff.com after the US tech giant Microsoft suspended IT services, three sources familiar with the matter said.

Nayara, which has condemned the sanctions, said on Monday it had filed a case against Microsoft in the Delhi High Court over its withdrawal of services.

Byju Raveendran, founder of the embattled Indian education technology company, has accused opportunistic debt buyers of orchestrating a “hostile takeover” through bankruptcy proceedings, claiming they purchased distressed loans at deep discounts to seize control of his once-$22 billion startup.

In a lengthy statement on LinkedIn marking one year since Think & Learn Pvt, which operates as Byju’s, entered insolvency proceedings, Raveendran said the company was current on interest payments when creditors triggered bankruptcy over what he called a “technical default” related to delayed audit filings.

Home Minister Amit Shah on Monday informed the Lok Sabha that the three terrorists killed in Jammu and Kashmir were involved in the recent attack at Baisaran in Pahalgam.

On July 28, the Army’s elite para commandos shot dead the suspected mastermind behind the Pahalgam terror attack, along with two of his associates, during an encounter in a forested area on the outskirts of Srinagar in Kashmir.

Shailesh Jejurikar has been appointed by Procter & Gamble (P&G) as its president and chief executive officer, effective 1 January, becoming the first Indian in the consumer major’s history to lead the company.

He will succeed Jon Moeller, the current chief executive officer at the company.

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