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LVB bondholders: A HC ruling raises hopes of recovery for LVB bondholders

The tier-2 bonds have a loss absorbency feature, which means that if a bank fails, its tier-2 bondholders will absorb any losses ahead of its depositors. LVB had reported about ₹3,000 crore in accumulated losses, one-fourth of its loan book had turned sour, and tier-1 capital had turned negative.
Tamil Nadu Justice Sanjayv Gangapurwala Justiced Bharatha Chakravarthy Sangita Mehta Lakshmi Vilas Bank Madras High Court

Indian startup to develop electric air taxi prototype by March 2025

Chennai-based startup The ePlane Company expects to develop a certifiable prototype of a flying electric taxi by March next year as it works on ways to alleviate urban congestion. Incubated out of the Indian Institute of Technology (IIT), Madras, the company also aims to initially commercialise
Tamil Nadu Connaught Place Satya Chakravarthy Plane Company Founder Indian Institute Of Technology Interglobe Enterprises

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