Paysharp Wins Big, BYJU’s Unending Sorrows, Swiggy’s ‘Incognito Mode’ and more

Paysharp scores a major win with RBI approval for payment aggregation, while BYJU’S faces turmoil as its auditor MSKA resigns and insolvency claims hit INR 11,432 Cr. Delhi Court’s legal drama continues with vendor Amit Kumar Bansal denied bail in the BharatPe fraud case. Tracxn keeps its momentum with a new ESOP allotment, and Swiggy’s 'Incognito Mode' promises a discreet dining experience. Meanwhile, the Centre is mulling an INR 11K Cr boost for FAME-III, enhancing subsidies for e-buses and e-rickshaws, and TRAI is pushing for tighter spam controls on OTT platforms.

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What Matters

“Aage Badhte Raho”: Paysharp Gets Payment Aggregator Nod From RBI

Chennai-based fintech startup Paysharp has quietly crossed a significant milestone, securing final authorization from the Reserve Bank of India to operate as an online payment aggregator.

This approval, following an in-principle license granted in December 2022, positions Paysharp to expand its footprint in the competitive fintech landscape. The company’s understated announcement reflects the gravity of this achievement amid a rapidly evolving regulatory environment.

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“Maafi Ke Layak Nahi”: Delhi Court Denies Bail To Vendor Amit Kumar Bansal In BharatPe Fraud Case

In a somber turn of events, a Delhi court has denied bail to vendor Amit Kumar Bansal, who was arrested last month in connection with the alleged INR 82 Cr fraud at fintech unicorn BharatPe.

The court highlighted the need for Bansal’s continued custodial interrogation, underscoring the seriousness of the investigation. Currently held at the EOW office in Mandir Marg, Bansal's next court appearance is scheduled for Monday.

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“Dukh, Dard, Peeda”: BYJU’S Auditor MSKA Resigns Over ‘Financial’ & ‘Governance’ Concerns

In a troubling development, embattled edtech giant BYJU’S has lost its statutory auditor, MSKA & Associates, over concerns related to financial reporting and governance.

The abrupt resignation raises serious questions about the company’s financial transparency and the management's ability to navigate these challenges. BYJU’S has informed its board of the auditor's immediate departure, adding to the growing uncertainty surrounding the startup.

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“Yahan Ke Hum Sikandar”: Tracxn Allots 1.8 Lakh Equity Shares Under ESOP Plan

Tracxn's Nomination and Remuneration Committee has approved the allotment of nearly 1.8 lakh equity shares under its ESOP plan, priced at INR 1 per share.

This move slightly boosts Tracxn's paid-up share capital to INR 10.47 Cr, reflecting the company's ongoing commitment to rewarding its employees. The latest allotment highlights Tracxn's steady growth in a competitive market.

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“Sochna Kya, Jo Bhi Hoga Dekha Jaayega”: BYJU’S Insolvency Proceedings: TLB Lenders Make Claim For INR 11,432 Cr Dues

BYJU’S is facing intense financial pressure as TLB lenders, led by Glas Trust, have filed a claim for INR 11,432 Cr in dues—representing a staggering 88% of the total claims against the edtech giant.

Adding to the pile, BYJU’S subsidiary Aakash Educational Services has filed its own claim for INR 1,404 Cr. With over INR 13,027 Cr in claims from 1,887 creditors still under review, the scale of BYJU’S financial woes is becoming increasingly apparent.

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“Ab Sabki Khair Nahi”: TRAI Pushes MeitY To Crack The Whip On Spam Via OTT Apps Like WhatsApp

The Telecom Regulatory Authority of India (TRAI) is ramping up its crackdown on spam, urging MeitY to extend the fight from traditional SMS to popular OTT messaging apps like WhatsApp.

This move marks a significant expansion of TRAI's efforts to curb the growing menace of unsolicited messages across digital platforms. With this push, TRAI aims to tighten the reins on spam and enhance user protection in the OTT space.

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“Janhit Mein Jaari”: Centre Considering Outlay Of INR 11K Cr For FAME-III, Sops For E-Buses & E-Rickshaws

The Centre is eyeing an ambitious outlay of INR 11,000 Cr for the upcoming FAME-III scheme, which aims to boost India's electric mobility sector. Expanding its scope, the scheme will likely include subsidies for electric buses, autorickshaws, ambulances, police vehicles, and two-wheelers.

With Union Minister H. D. Kumaraswamy's announcement of the scheme’s launch in the next two months, FAME-III is set to drive a new wave of electrification across India’s transport landscape.

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“Sab Secret Hai”: Swiggy introduces 'Incognito Mode' for private ordering

Swiggy has introduced a new 'Incognito Mode' for users who prefer a little more privacy when ordering their favorite meals.

By simply toggling the feature in their cart, users can ensure their orders stay trackable for three hours post-delivery to address any concerns, before the details vanish from their order history. This new feature adds a layer of discretion to the Swiggy experience, catering to those who value their privacy.

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1. Zepto has begun discussions with top bankers like Morgan Stanley and Goldman Sachs for a $450 Mn IPO, targeting an August 2025 launch. The quick commerce startup, fresh off raising over $1 Bn in recent funding, plans to include a mix of fresh share issues and an OFS component in the offering.

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2. Ather Energy is gearing up for a INR 4,500 Cr IPO, aiming for a $2.5 Bn valuation, and plans to file its DRHP next week. This move follows Ola Electric's successful IPO and Ather's recent unicorn status after a INR 600 Cr funding round.

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3. Yatra's acquisition of Globe Travels for INR 128 Cr is set to add 350 corporate clients and boost its annual GMV by INR 783 Cr. This deal is expected to enhance Yatra's financials immediately and expand its cross-selling opportunities in hotels, expense management, and travel solutions.

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