Eternal, the parent company of food delivery giant Zomato and quick-commerce platform Blinkit, has landed in regulatory spotlight after receiving two GST demand orders worth over ₹27.56 crore from West Bengal tax authorities. The demands pertain to the alleged short payment of output tax for the period between April 2020 and March 2022 and include tax, interest, and penalties. Eternal has maintained that it has a strong legal case and plans to appeal the orders. While such tax disputes are not uncommon in India’s evolving GST regime, the development highlights the growing scrutiny faced by large consumer internet platforms as they scale operations across states.
Credits: The Free Press Journal
Hyderabad Delivery Partner’s Death Renews Debate on Quick Commerce Safety
The tragic death of 25-year-old delivery partner Abhishek in Hyderabad has once again raised troubling questions about the human cost of India’s rapid delivery economy. Employed by quick-commerce platform Zepto, Abhishek lost control of his two-wheeler during peak evening traffic on the busy Tolichowki–Mehdipatnam road on January 5. Moments later, a private bus ran over him, killing him on the spot. The incident has reignited criticism of aggressive delivery timelines and pressure on gig workers to meet speed targets. As quick-commerce firms compete on minutes, concerns around road safety, insurance, and worker welfare are becoming impossible to ignore.
Credits: The Economic Times
RBI Tightens Grip on NBFC Sector, Cancels 35 Licences
The Reserve Bank of India has intensified its regulatory crackdown on the non-banking financial company (NBFC) sector by cancelling the certificates of registration of 35 NBFCs and accepting voluntary surrender from another 16 entities. The action follows persistent non-compliance with regulatory norms, underscoring the central bank’s push to clean up the financial ecosystem. Over the past year, the RBI has consistently signalled that weak governance, inadequate capital, and poor risk management will not be tolerated. While the move may shrink the number of players in the sector, it is expected to strengthen trust and stability, especially as NBFCs play a crucial role in credit delivery.
Credits: The420
Meesho Shares Slide as Lock-in Expiry Triggers Selling Pressure
Shares of e-commerce platform Meesho came under sharp pressure on January 7, falling 5 percent to hit the lower circuit at ₹173.13 after the expiry of its one-month shareholder lock-in period. The decline marked the second consecutive session of losses and brought the stock closer to its listing price of ₹162.50. Market watchers attribute the fall to early investors booking profits as restrictions lifted, a common trend for newly listed companies. The movement highlights ongoing volatility in tech and internet stocks, where public market performance remains sensitive to sentiment, fundamentals, and post-IPO supply dynamics.
Credits: Mint
₹250 Cr Juhu Bungalow Puts Spotlight on Mumbai’s Ultra-Luxury Market
Mumbai’s luxury real estate market has made headlines with the listing of a sea-facing heritage bungalow in Juhu for a staggering ₹250 crore. Named Leela, the 6 BHK property is classified as a Grade IIB heritage structure, allowing limited redevelopment under strict guidelines. Built in the 1950s in an Art Deco style, the bungalow combines architectural legacy with a prime coastal location near Juhu Beach. Its valuation reflects the soaring demand for rare, standalone properties among ultra-high-net-worth individuals. As land scarcity deepens in Mumbai, such trophy assets continue to command eye-watering price tags.
Credits: Hindustan Times
Neeraj Chopra Enters Entrepreneurship with Launch of Vel Sports
Olympic and world champion javelin thrower Neeraj Chopra has taken a decisive step beyond athletics by launching Vel Sports, his own athlete management company. The move marks the end of his long association with JSW Sports, which described the transition as the start of a “new chapter.” With Vel Sports, Chopra aims to mentor and manage emerging talent, leveraging his global experience to professionalise athlete representation in India. His entry into sports entrepreneurship reflects a broader shift, with top athletes seeking greater control over their careers and contributing to the growth of India’s sports ecosystem off the field as well.
Credits: TechnoSports Media Group
