The rating agency expects interest burden on corporates to surpass pre-covid levels in terms of value, increasing 30% in FY24 compared to FY22, with the cost of debt is likely to increase across all categories irrespective of size of the corporate.

Gijs de Rooij, director of Koeleman Beheer and Koeleman India, said he had a "great experience" dealing with OfBusiness and Singhi Advisors. "From a European perspective, the perceived risk of selling a company in India is high, and there are many administrative differences between The Netherlands and India," he said in an email response to ET's query. OfBusiness did not respond to a request for a comment.

The Directorate General of GST Intelligence has discovered 38 online gambling and betting portals that are based in Cyprus, Mauritius, and the Cayman Islands, and have not paid GST. The crackdown has found that some entities pose as fantasy gaming platforms and are being used to launder money abroad by high-net-worth individuals, celebrities, and social media influencers. The tax department estimates that ₹12,000 crore tax evasion took place between April 2019 and November 2022.

Mantri Developers, a Bangalore-based real estate company, has been admitted to the insolvency process by the National Company Law Tribunal (NCLT) after it defaulted on dues of over INR456.68 crore ($6.2m). Meanwhile, Ahsan Ahmad has been appointed as the insolvency resolution professional (IRP) to oversee the proceedings of the insolvency resolution. Indiabulls Housing Finance Ltd applied for insolvency as the firm missed its loan obligations on 1st January 2022.

National Asset Reconstruction Co Ltd (NARCL) aims to acquire ₹30,000 crore of Srei Equipment Finance and Srei Infrastructure Finance loans this fiscal year, despite missing its target of acquiring loans worth ₹50,000 crore in FY23. In FY24, the bad bank will also acquire ₹600 crore offered to Rolta India’s secured lenders for their admitted claims of ₹7,086 crore. NARCL is a government-promoted company that acquires distressed assets and is sponsored by state-owned banks. Its acquisitions were delayed due to a lack of clarity on the dual structure relationship between NARCL and India Debt Resolution Co Ltd.

India's Gujarat International Finance Tec-City, or GIFT City, could become a leading centre for the international borrowing needs of Indian companies, as tax breaks that encouraged overseas borrowing come to an end. The centre offers tax-friendly rules, leading several Indian companies to already say they will shift their bond listing activities from overseas jurisdictions to GIFT City. Indian firms raising foreign currency loans could also choose to do so from GIFT City's branches. Since India raised $30bn in foreign funds through the ECB route last year, GIFT City stands to benefit significantly.

American asset manager Nuveen and Dutch development bank FMO have put in Rs 165 crore each in Arohan while Piramal Alternatives and a European development financial institution invested Rs 200 crore each.

Family-run businesses should embrace change, practice proper governance, and develop a succession plan to ensure their long-term survival, according to HDFC chairman Deepak Parekh. Speaking at an event at the Center for Family Business and Entrepreneurship, Parekh noted that achieving success in such businesses often depends on the ability to invite professionals on board and embrace education.

Lenders of Reliance Capital may consider extending the deadline for completing the resolution process until May 30 as the second auction round is yet to take place and three bidders still have concerns regarding the compliance of resolution plans with regulatory guidelines, among other issues. The deadline for completing the process has been extended several times in the past. Reliance Capital is the third NBFC undergoing bankruptcy proceedings under the Insolvency and Bankruptcy Code.