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Ashneer Grover was stopped at the Airport.

BharatPe co-founder Ashneer Grover and his wife Madhuri Jain were stopped from boarding a flight at Indira Gandhi International Airport on Thursday.

They were stopped based on the LOC (Look Out Circular) issued against them. Sources told the media that the couple were leaving for New York.

Ashneer Grover posted on X that he and his wife were stopped at the Delhi airport on Thursday while en route to New York for vacation.

LOC issued by EOW

A look-out notice was issued against Ashneer Grover and his wife Madhuri Jain this year at the request of the Economic Offenses Wing (EOW) of Delhi Police.

Basically, LOC is a circular letter used by authorities to determine if a traveller is wanted by law enforcement. A person against whom LOC has been issued cannot travel outside the country.

EOW summoned Ashneer Grover

The Economic Offenses Wing (EOW) of Delhi Police has summoned Ashneer Grover in the case of alleged fraud of Rs 81 crore in fintech unicorn. EOW has also called his wife Madhuri Jain for questioning.

BharatPe co-founder Ashneer Grover’s troubles are increasing. According to the information, the couple has been asked to appear at the EOW’s Mandir Marg office on November 21.

Official sources say that this action is being taken on the complaint of BharatPe. The branch officer has confirmed the summons.

The allegation against Ashneer Grover.

The Economic Offenses Wing had filed an FIR in May against Grover in the alleged Rs 81 crore case. Madhuri Jain and their family members Deepak Gupta, Suresh Jain and Shwetank Jain names are also in this case.

BharatPe accuses Grover and his family of causing Rs 81.3 cr loss through fraudulent transactions, improper payments, and inflated prices.

The investigation is still in its initial stage

The EOW said the investigation is still in its initial stages. Sources said the couple has been asked to appear before the EOW next week to join the investigation.

“After the latest status report filed by the EOW in the Delhi High Court, where they have found evidence of embezzlement, it is appropriate for the EOW to issue an LOC against the accused.”
BharatPe’s lawyer Zulfikar Memon of MZM Legal told the media.

November 18, 2023
The Tata Technologies IPO opens on November 22nd, creating a golden opportunity for investors.
The Tata Technologies IPO (initial public offer) opens on November 22nd, creating a golden opportunity for investors. The company is expected to raise around ₹2,000 crore through the IPO. The IPO is expected to be a major event in the Indian capital markets and is likely to attract a lot of interest from investors. Don’t wait, take advantage of this exciting opportunity and prepare to invest. Don’t miss out on the chance to earn big!

Tata Group is also one of the giant companies in the country. It is also a favourite for many investors. After almost two decades, Tata Group’s company Tata Technologies is launching its IPO. This IPO will open for Offer for Sale (OFS). In such a situation, if you also invest in it, you should know about this IPO in detail.

This is the first IPO in two decades of Tata Group after the launch of Tata Consultancy Services (TCS) in the year 2004.

Tata Technologies IPO date

On the 13th of November 2023, the company said in its regulatory filing that they are going to open the IPO of Tata Technologies Limited on the 22nd of November 2023. This IPO offers a complete offer for sale. This year, on March 9, 2023, the company filed a draft red herring prospectus with the Securities and Exchange Board of India i.e. SEBI.

Certainly, this IPO will open on 22 November 2023 and close on 24 November 2023. Furthermore, Tata Motors has a 74.69% stake in Tata Technologies. The remaining Alpha TC Holdings holds 7.26% and Tata Capital Growth holds 3.63%.

Summary

Here are some key details about the Tata Technologies IPO:

Company: Tata Technologies Limited

IPO Type: Main-board IPO

Issue Size: ₹2,000 crore, 60,850,278 equity shares of the face value of ₹2 aggregating up to ₹[?] Crores

IPO Open Date: November 22, 2023

IPO Close Date: November 24, 2023

Allotment Date: Expected to be finalized on Thursday, November 30, 2023

Listing Date: The tentative listing date is fixed as Tuesday, December 5, 2023

Price band: Yet to be announced

Lot size: Yet to be announced

Minimum Order Quantity: Yet to be announced

Book building lead: ICICI Securities, Kotak Mahindra Bank, and Morgan Stanley

Listing Exchanges: BSE, NSE

Registrar: Link Intime India Private Ltd

Risk of Tata Technologies IPO

Here are some of the risks associated with Tata Technologies IPO:
- Economic slowdown could impact demand for engineering services
- Increased competition from other engineering services companies
- Depreciation of the Indian rupee could impact the company’s profitability
Know About Tata Technologies Limited

Tata Technologies Limited is an Indian engineering services company headquartered in Pune, Maharashtra. Moreover, Tata Technologies is a leading global engineering services company with a strong track record of delivering innovative and cost-effective solutions to its clients. The company has a deep understanding of the engineering challenges faced by its clients and is well-positioned to capitalize on the growing demand for engineering services in India and around the world.

Tata Technologies was started in the year 1988. Tata Technologies is a subsidiary of Tata Motors. It provides auto, aerospace, industrial heavy machinery and other industry product development and turnkey solutions services. They have more than 11,000 employees worldwide. Its business is spread all over the world. The company’s income has increased by 25% in the current financial year. At the same time, the company’s profit has also increased by about 63%.

Here are some of the strengths of Tata Technologies:
- Strong track record of delivering innovative and cost-effective solutions
- Deep understanding of the engineering challenges faced by clients
- Well-positioned to capitalize on the growing demand for engineering services
- Part of the Tata Group, one of India’s largest conglomerates
Overall, the Tata Technologies IPO is a promising investment opportunity for investors with a long-term investment horizon. The company has a strong track record of growth and is well-positioned to capitalize on the growing demand for engineering services. However, investors should be aware of the risks associated with the IPO before investing.

Please note that this information is for informational purposes only and should not be considered investment advice. It is important to conduct your research before making any investment decisions.
November 15, 2023
What is Mike Johnson’s Plan to Avoid US Government Shutdown?

Mike Johnson’s plan to avoid a government shutdown is a two-step approach that would extend funding for some agencies through January 19th and the rest until February 2nd. The goal of the plan is to give Congress more time to negotiate a full-year spending bill and avoid a shutdown.

Before knowing the plan let’s know what is a “Government Shutdown” and how it affects.

What is a Government Shutdown?

A government shutdown takes place when the legislative branch is unable to pass crucial bills that provide funding or authorization for the executive branch’s operations. Consequently, this can lead to the suspension of certain or all government activities.

Impact of a Government Shutdown?

During a Government Shutdown

1 Nonessential government offices are unable to remain open

2 Some essential workers must continue to work but their pay may be furloughed

3 Federal agencies must discontinue all non-essential discretionary functions until new funding legislation is passed and signed into law

4 Essential services continue to function, as do mandatory spending programs

5 The federal government curtails agency activities and services

6 Shutdowns can also disrupt state, territorial, and local levels of government

A government shutdown can impact

a) Renewal and processing times of passports.

b) Federal loans to small businesses.

c) A last-minute deal in September to keep the federal government open through mid-November.

Mike Johnson’s plan to avoid government shutdown

Here is a more detailed breakdown of the Mike Johnson’s plan:

Step 1:

This step would fund the following agencies through January 19th:

Military construction

Veterans benefits

Transportation

Housing and Urban Development

Agriculture

Food and Drug Administration

Energy and water programs

Step 2:

This step would fund all other federal operations, including defence, until February 2nd.

Mixed reaction about the plan

The plan has been met with mixed reactions from lawmakers. Some Republicans have expressed support for the plan, while others have criticized it for not going far enough in cutting spending. Democrats have also criticized the plan, arguing that it is unnecessary and could lead to a shutdown in February.

Despite the criticism, Johnson has said that he is confident that his plan will be successful in avoiding a shutdown. He has also said that he is open to negotiating with Democrats on a full-year spending bill.

It remains to be seen whether Johnson’s plan will be successful in avoiding a shutdown. However, the plan has the potential to be a compromise solution that could get the support of both Republicans and Democrats.

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November 14, 2023

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