Raising funds maybe a problem

Raising funds maybe a problem 

Cipla’s lookout for potential investors may soon come to an end, as Torrent Pharmaceuticals is engaging in preliminary discussions with Apollo Global Management to secure a loan. Torrent hopes to secure $1bn to fund its planned bid for Cipla. Media reports have said that Torrent is allegedly trying to raise around $3-4bn for its bid to ward off a much bigger rival.    

Elon Musk Implements Paywall on X to Battle Bots and Spam

Elon Musk plans to implement a paywall for X users, aiming to address the issue of bots and spam accounts on the platform. Since taking over in October 2022, Musk has made significant changes, including layoffs, introducing a premium version, and reducing content moderation. He also reinstated banned accounts, like Donald Trump's. The decision may have been influenced by a conversation with Israeli Prime Minister Benjamin Netanyahu, who emphasized the need to combat online anti-Semitism and bot armies. Musk sees the paywall as a crucial measure to combat the proliferation of bots on the platform.

E-commerce Startup Flash Secures $6.7 Million in Funding for Expansion

E-commerce startup Flash, founded by ex-Flipkart executive Ranjith Boyanapalli, secured $6.7 million in funding led by Blume Ventures and PeerCapital. Flash offers custom email accounts and rewards for online shoppers and aims to create unified digital identities across e-commerce platforms. The funds will be used for infrastructure improvements, strategic hires, and international expansion. Previously, in November 2022, Flash raised $5.8 million from various investors. The startup targets India's top 25 million "power shoppers," who contribute to 70% of the country's online shopping revenue and are expected to grow to 65 million by 2030.

Indian Government Appoints New Members to Competition Commission of India (CCI) to Expedite Antitrust Investigations

The Indian government has appointed three new members to the Competition Commission of India (CCI) to expedite decision-making due to delays caused by a lack of quorum. The appointees include Anil Agrawal, a former police official with experience in e-commerce initiatives, Sweta Kakkad, a lawyer and former interim compliance officer at WhatsApp, and Deepak Anurag, a former official from India's Comptroller and Auditor General (CAG). This move is significant as CCI is currently investigating high-profile firms like Amazon, Walmart, Flipkart, Google, and Pernod Ricard for alleged antitrust violations. With these appointments, the CCI now has four members, including Chairperson Ravneet Kaur.

Supreme Court Petition Challenges Composition of Adani-Hindenburg Probe Panel

Anamika Jaiswal has filed a fresh petition in the Supreme Court, challenging the investigation panel's composition for Adani-Hindenburg irregularities. She argues that O P Bhatt, K V Kamath, and Somashekhar Sundaresan have potential conflicts of interest. Bhatt's chairmanship at Greenko, a renewable energy firm connected to Gautam Adani's conglomerate, and past investigations regarding loans to Vijay Mallya raise concerns. Kamath's involvement in a fraud case during his time as ICICI Bank chairman is also cited. Jaiswal previously accused SEBI of concealing facts in the Adani case, including regulatory violations and price adjustments, bringing them to the SC's attention.