30, Dec 2024
Parrami Finance Introduces Working Capital Solutions for Start-ups
Mumbai, 30th December 2024, Parrami Finance, registered NBFC, a leading innovative financial solutions provider, has announced the launch of its new working capital program tailored specifically for startups registered under the Department for Promotion of Industry and Internal Trade (DPIIT) to empower start-ups by addressing their immediate financial needs and enabling them to scale their operations seamlessly.
The process focus is to provide revenue generating DPIIT-recognized start-ups with accessible, flexible, and affordable working capital loans to grow India’s entrepreneurial ecosystem and contribute to the nation’s vision of becoming a global innovation hub.
As of June 30, 2024, the Department for Promotion of Industry and Internal Trade (DPIIT) has recognized a total of 1,40,803 start-ups across India. In the past two years, the number of DPIIT-recognized start-ups has increased significantly to 26596 in 2022 and 34842 in 2023 with the total number of start-ups recognized over the two-year period to 61,438.
“We understand the unique challenges that startups face, especially in their early stages. With this new working capital program, we are committed to bridging the financial gap and equipping startups with the resources they need to innovate, grow, and succeed,” said Mr Kamal Mehta, Director of Parrami Finance Pvt Ltd
India’s evolution as a global business destination is both dynamic and inspiring. Driven by robust economic growth, transformative policies, and increasing global integration, initiatives like Make in India, Digital India, and Startup India have bolstered the nation’s reputation as a business-friendly destination. Moreover, simplifications such as the Goods and Services Tax (GST) and the Insolvency and Bankruptcy Code have further enhanced India’s Ease of Doing Business ranking, signalling a promising landscape for start-ups and MSMEs.
This program aligns with the Government of India’s efforts to support the start-ups ecosystem through schemes like Startup India and Make in India. Parrami Finance’s initiative would provide much-needed liquidity, empowering startups to meet operational expenses, invest in growth opportunities, and navigate market uncertainties with confidence.
- 0
- By Team
30, Dec 2024
Kickstart Winter Festivities with the World’s First Undhiyu Mixing Ceremony at Khandani Rajdhani
Bangalore, 30th December 2024: Breaking new ground in festive traditions, Khandani Rajdhani, the iconic thali restaurant, is proud to host the world’s first-ever Undhiyu Mixing Ceremony, set to take place in Bengaluru. This large-scale event is a first-of-its-kind initiative, celebrating the winter season and the bounty of fresh, seasonal vegetables that come together to create Undhiyu, Gujarat’s most iconic and comforting dish. The event also marks the kickoff of Khandani Rajdhani’s much-awaited Swad Kesariya Festival, which celebrates the season with a curated menu of winter delicacies from Gujarat and Rajasthan.
The ceremony is a unique twist on festive traditions, offering a refreshing alternative to the popular cake mixing events. It brings communities together to embrace the winter harvest while highlighting the intricate preparation of Undhiyu, which features a medley of purple yam, raw banana, fenugreek leaves, eggplant, pigeon peas, and more, blended with rich spices.

At the heart of the Swad Kesariya festival will be the iconic Undhiyu, with a rotational menu that ensures a new culinary experience on every visit, the festival is a treasure trove of traditional dishes like Shahi Angoor ki Sabzi, Lilva Surti Dal, and more, paired with fresh breads and desserts like Shakarkandi Ka Halwa and Sitafal Phirni.
“At Khandani Rajdhani, we cherish the opportunity to create new traditions while honoring our roots. The Undhiyu Mixing Ceremony is our way of celebrating winter and the vibrant ingredients that define it. While the season is traditionally known for cake mixing, we wanted to bring forth our Indian winter flavors and create something unique—an experience that is truly one-of-a-kind. Coupled with the Swad Kesariya Festival, it’s an invitation for everyone to come together and relish the authentic and comforting flavors of the season,” said Aji Nair, CEO of Mirah Hospitality and Gourmet Solutions Pvt. Ltd.
The Undhiyu Mixing Ceremony will be an immersive and festive experience, with participants coming together to mix the ingredients of this iconic dish, symbolizing community and togetherness. The event will culminate with guests enjoying a specially curated thali featuring Undhiyu and other winter delights.
30, Dec 2024
Adani Foundation at ACC Tikaria fosters self-reliance through skill development
Uttar Pradesh, 30 December 2024: ACC, the cement and building material company of the diversified Adani Portfolio, along with the Adani Foundation, is empowering rural youth through skill development initiatives in Tikaria. Through training at the Adani Skill Development Centre (ASDC), Malti Devi from Kakwa village in Amethi has transformed her life, overcoming financial hardships to support her family and achieve self-reliance.

Malti Devi overcame significant challenges after her father’s passing by shouldering her family’s responsibilities. She enrolled in a three-month Domestic Data Entry Operator course at ASDC Tikaria that equipped her with essential skills. Her hard work and dedication have paid off with a job at Indivillage Tech Solutions, with a monthly income of Rs. 11,800.
Malti Devi’s achievement has not only brought her financial stability but also enabled her to support her family and fund her sisters’ education, fulfilling her dream of a brighter future for them.
30, Dec 2024
GD Goenka University Triumphs at Smart India Hackathon 2024
Gurugram, December 30, 2024: G D Goenka University proudly announces that its student team, Techtitans, has emerged as joint winners in the Software category at the Smart India Hackathon (SIH) 2024 Grand Finale, held at NITK Surathkal, Karnataka, on December 11–12, 2024.
Innovative Problem-Solving
Techtitans tackled the problem statement “Gamification of Anti-Doping Information,” presented by the National Anti-Doping Agency (NADA) under the Ministry of Youth Affairs and Sports, during a 36-hour hackathon. The team’s solution emphasized player engagement through interactive, game-based modules, helping increase awareness and adherence to anti-doping guidelines.
Meet the Winning Team: Led by Prachi Shah (Team Leader, B.Tech CSE-AIML, 2022–26), the Techtitans team also included Prateek Singh Raghav, Kaushal Singh, Krithik Mangal, Akash Suyal, and Yash Shokeen. They were mentored by Dr. Yogesh Kumar, Assistant Professor at the School of Engineering and Sciences (SoES) and supported by Prof. K. Thammi Reddy, Dean- SoES) Competing under Problem Statement PSID: SIH1722, the team delivered an innovative approach to gamification that impressed the panel of 18 expert jurors.

A Testament to Innovation
This success is a testament to GD Goenka University’s focus on fostering innovation, problem-solving, and practical learning among students. It marks a proud accomplishment for the School of Engineering and Sciences, reflecting their commitment to set new benchmarks and nurture tech leaders of the future,” said Mr. Nipun Goenka, Managing Director of GD Goenka Group.
National Recognition
The Smart India Hackathon, organized by the Government of India, is the world’s largest open innovation model, attracting widespread participation. This year’s event saw 33 teams and 230 participants from across the country, with six teams competing in the specific problem statement category. The thorough evaluation process included representatives from the Ministry of Coal, the Ministry of Youth Affairs and Sports, and various industry experts.
G D Goenka University congratulates Techtitans on their stellar performance and remains committed to empowering students through cutting-edge research, innovation, and real-world problem-solving experiences.
30, Dec 2024
Servotech Secures 1100 Grid Connected Agriculture Pumps order from UPNEDA under KUSUM Component C-1 Scheme
New Delhi, 30th December ’24: Servotech Renewable Power System Ltd. (Formerly known as Servotech Power Systems Ltd.), India’s leading solar solutions and EV Charger manufacturer has secured an order of approx. 1100 Grid-connected Agriculture Pumps under “KUSUM Component C-1 Scheme” from Uttar Pradesh New and Renewable Energy Development Authority (UPNEDA), Govt. of Uttar Pradesh. This project will be a huge step towards solarise farming of Uttar Pradesh and driving India closer to being a solar-powered nation.
The project valued at around 31 Crores will involve manufacturing, supplying, installation, testing & commissioning of Grid Connected Agriculture Pumps along with solar power plants. Furthermore, the project involves for Servotech to provide comprehensive warranty maintenance for the next 5 years for pumps ranging from 2 HP, 3 HP and 5 HP with solar power plant with capacities of 3 kW, 4.5 kW, and 7.5 kW, for a total of 1094 solar pumps across Uttar Pradesh contributing to the state’s renewable energy goals.
Commenting on the order, Sarika Bhatia, Director, Servotech Renewable Power System Ltd. (Formerly known as Servotech Power Systems Ltd.) said, “We are excited to get this order from UPNEDA to support Uttar Pradesh’s green energy initiatives. We understand the difficulties farmers experience when relying on diesel generators and traditional energy sources for irrigation and other agricultural purposes. This provides an opportunity to access clean, sustainable, and cost-effective solar energy solutions, which will help reduce dependency on grid electricity. Solar-powered irrigation and energy systems will lower the operational costs, increase productivity, and ultimately contribute to the prosperity of rural communities. This partnership not only enhances the energy security but also aligns with the state’s long-term environmental goals, creating a more sustainable future for farming and agriculture in Uttar Pradesh.”
30, Dec 2024
ITM Business School BBA Program Sets the Stage for Future Business Leaders Through Comprehensive Academic and Practical Training
Delhi, December 2024 – The BBA students of ITM Business School have experienced an inspiring and transformative journey during their first two terms, marked by a harmonious blend of academic excellence, industrial exposure, and skill development. Beginning on July 15, 2024, the course kick-started with an Induction and Orientation session, laying the groundwork for their future in the business world. Activities such as the Scavenger Hunt, Melange, and Art of Storytelling set a lively tone, while sessions like “Aspirations: Kindling the Fire” and “The Power of Inquiry” fostered curiosity and drive. A visit to SEAL Ashram, an NGO dedicated to rescuing and rehabilitating destitute and missing individuals, further instilled a deep sense of social responsibility among students, inspiring them to contribute meaningfully to society.
To complement their practical learning, expert sessions were conducted with leaders and entrepreneurs from renowned organizations such as Aditya Birla Capital, Suryodaya Small Finance Bank, DSP Investments Pvt. Ltd., LA Technologies, and IMS Proschool Ltd. These sessions, covering topics such as “Transforming Business,” “Future-Ready Business Leadership,” “Understanding Amul’s Business Model,” and “The Game Changer: Digital Marketing,” provided invaluable insights into branding, market strategies, and innovation.
In Term 1, the program emphasized on core foundational skills with courses such as High-Impact Communication, Professional Office Applications, and Logical Reasoning and Quantitative Aptitude. These modules honed students’ communication, analytical, and technical skills, essential for thriving in a dynamic business environment. A “Basics of German Language” course introduced cross-cultural communication, aligning with ITM’s global perspective. Additionally, Business Accounting and Business Management offered practical insights through real-time examples and case studies, enriching the students’ learning experience.
Term 2 built on this foundation by introducing advanced concepts in management, research, and personal growth. Courses like Marketing Management, Business Statistics, and Managerial Skills focused on leadership, teamwork, and strategic decision-making. Lifestyle and Wellness Management encouraged students to balance professional excellence with personal well-being, while Advanced German broadened their global communication capabilities.
At ITM Business School, we believe in shaping future-ready professionals by blending academic rigor with real-world exposure. Our BBA program is designed to equip students with the skills, knowledge, and confidence required to thrive in today’s dynamic business environment. Terms 1 and 2 have been a testament to our commitment to holistic education, empowering students to excel both personally and professionally.”
The program’s emphasis on holistic development was evident in over 180 hours of soft skill training conducted in each term. Students enhanced their public speaking, critical thinking, teamwork, and negotiation abilities, equipping them with the confidence and skills needed for professional success.
Industrial exposure played a significant role in the learning process. Students visited organizations like Decathlon and Godrej, gaining firsthand experience of corporate environments and practical business operations. These visits bridged the gap between theoretical knowledge and its application in the real world.
The immersive and comprehensive learning journey during Terms 1 and 2 has equipped ITM Business School BBA students with the skills, confidence, and knowledge necessary to excel in a competitive and ever-changing business landscape. ITM Business School remains committed to preparing its students for future leadership roles, ensuring they emerge as dynamic, industry-ready professionals.
30, Dec 2024
Can Air Pollution Cause Lung Cancer in Non-Smokers? Key Symptoms & Risks

By-Dr Chandrasekhar Prasad Singh, Consultant Medical Oncology, HCG Abdur Razzaque Ansari Cancer Hospital, Ranchi
Lung health is a cornerstone of overall well-being, yet it is increasingly under siege from the growing menace of air pollution. With urbanization and industrialization accelerating worldwide, daily exposure to harmful pollutants has become an unavoidable reality for many. These pollutants, once primarily linked to respiratory conditions like asthma and bronchitis, are now recognized as significant contributors to life-threatening illnesses, including lung cancer—even in individuals who have never smoked.
This alarming link between air pollution and lung cancer underscores the urgent need for greater awareness. Protecting lung health calls for proactive measures, such as minimizing exposure to pollutants, advocating for cleaner environments, and prioritizing early detection of potential health issues. Recognizing key symptoms and understanding the risks can empower individuals to take control of their respiratory health and reduce the burden of this silent threat.
Can Air Pollution Cause Lung Cancer in Non-Smokers?
Recent research has uncovered that particulate matter in polluted air, particularly from vehicle emissions and fossil fuel combustion, can alter lung cells, making them more susceptible to cancer. While the risk from pollution is lower than from smoking, it is still critical to address. Non-small cell lung cancer (NSCLC), which claims over 250,000 lives annually, is among the cancer types linked to air pollution. Studies reveal that cells exposed to pollution are significantly more likely to turn malignant, requiring due awareness and vigilance.
Recognizing Early Symptoms of Lung Cancer
Lung cancer is notorious for its subtle onset, often going unnoticed until advanced stages. Knowing the early warning signs can lead to timely intervention.
• Persistent or worsening cough
• Coughing up phlegm or blood
• Unexplained fatigue or weakness
• Decreased appetite or weight loss
• Frequent respiratory infections
• Chest pain that worsens with breathing
• Swelling in the face or upper body
• Tingling sensations or balance issues
These symptoms may also mimic less severe conditions, but if they persist, consult a healthcare provider immediately.
Treatment Options for Lung Cancer
Treatment depends on the cancer type and stage, but the main approaches include:
1. Surgery: Effective for early-stage cancers to remove tumors
2. Radiation Therapy: Uses targeted rays to destroy cancer cells
3. Chemotherapy: Drugs that kill or slow cancer cell growth
4. Targeted Therapy: Focuses on specific genetic mutations
5. Immunotherapy: Helps boost the immune system to fight against cancer cells
6. Palliative Care: Provides symptom relief and enhances quality of life in advanced cases
Take Action to Protect Your Lung Health
While smoking remains the leading cause of lung cancer, pollution is a growing threat. Here’s how you can further reduce your risk:
• Use air purifiers, especially in urban areas with high pollution levels
• Stay indoors during peak pollution hours
• Get regular health check-ups, especially if you experience persistent symptoms
Due awareness, early detection and preventive measures are your one’s defences. If you notice any concerning signs, don’t delay—schedule a medical consultation today.
30, Dec 2024
From smog to stroke: How does air quality affect cardiovascular health?

By-Dr. Brajmohan Singh, Cardiothoracic and Vascular Surgeon, HCG Hospitals, Bhavnagar
Cardiovascular health is vital for overall well-being, as the heart and blood vessels play a vital role in sustaining life by delivering oxygen and nutrients throughout the body. However, this delicate system is increasingly under threat from environmental factors, with pollution emerging as a major concern. Among all the risks, air pollution stands out for its widespread impact, silently compromising heart health by triggering inflammation, oxidative stress, and vascular damage.
While the effects of air pollution on respiratory health are well-known, the connection between air quality and cardiovascular health is equally significant but often overlooked. Emerging research highlights how exposure to polluted air can directly contribute to heart-related issues, including strokes, heart attacks, and other cardiovascular diseases (CVDs).
The Hidden Danger in the Air
Air pollution is a complex mixture of harmful particles and gases, including fine particulate matter (PM2.5), nitrogen dioxide (NO2), ozone, and carbon monoxide. Among these, PM2.5—particles smaller than 2.5 micrometers—poses the greatest threat to cardiovascular health. These microscopic particles can penetrate deep into the lungs, enter the bloodstream, and trigger systemic inflammation, oxidative stress, and vascular dysfunction.
Atherosclerosis, a condition where arteries become narrowed or blocked due to plaque buildup, is linked to long-term exposure to polluted air. This can lead to life-threatening events such as heart attacks and strokes. Short-term exposure, on the other hand, can exacerbate existing conditions, leading to an increased risk of arrhythmias, hypertension, and other acute cardiac events.
Stroke and Air Pollution
Studies have shown that high levels of air pollution can increase the risk of ischemic strokes caused by blocked arteries, as well as hemorrhagic strokes caused by ruptured blood vessels. The elderly, individuals with pre-existing health conditions, and those living in urban areas with heavy traffic and industrial emissions are particularly vulnerable.
Which age group is at risk?
Certain groups are more susceptible to the cardiovascular impacts of air pollution such as elderly citizens, children, people with pre-existing conditions, and urban residents. Age-related decline in cardiovascular function makes seniors more vulnerable, while prolonged exposure to polluted air can have long-term impacts on children. Those with hypertension, diabetes, or other heart-related diseases face heightened risks in addition individuals who reside in cities with high traffic congestion and industrial activities are at greater risk of exposure to harmful pollutants as well.
What are the Preventative Measures?
While tackling air pollution requires systemic change, individuals can take steps to reduce their exposure and safeguard their cardiovascular health:
• Using air quality apps to stay informed and limit outdoor activities on days with high pollution levels can be beneficial.
• Air purifiers can reduce indoor air pollution significantly.
• A balanced diet rich in antioxidants, regular exercise, and avoiding smoking can boost cardiovascular resilience.
30, Dec 2024
Healthy Habits for a Colorectal Cancer-Free Life

By-Dr. R V Raghunandan, Senior Consultant – Radiation Oncology, HCG MNR Cancer Hospital, Ongole
Colorectal cancer, also known as bowel cancer, is one of the most common types of cancer worldwide, affecting millions of people each year. In India, it is estimated that over 50,000 new cases of colorectal cancer are diagnosed annually. While these statistics may seem alarming, the good news is that colorectal cancer is one of the most preventable types of cancer. By incorporating healthy habits into our daily lives, we can significantly reduce our risk of developing this disease.
Maintaining a Healthy Diet
A well-balanced diet plays a crucial role in preventing colorectal cancer. Foods that are high in fiber, such as whole grains, fruits, and vegetables, can help to keep the digestive system healthy and reduce the risk of cancer. It is recommended to consume at least 25-30 grams of fiber per day. A high-fiber diet can help to promote regular bowel movements, prevent constipation, and support the growth of beneficial gut bacteria. In addition to fiber, other essential nutrients that can help to prevent colorectal cancer include omega-3 fatty acids, antioxidants, and vitamin D. It is also essential to limit the intake of red and processed meat, which have been linked to an increased risk of colorectal cancer. The American Cancer Society recommends limiting red meat consumption to no more than 18 ounces per week.
Staying Physically Active
Regular physical activity is another important aspect of preventing colorectal cancer. Exercise can help to improve digestion, boost the immune system, and reduce inflammation in the body. Aim to engage in at least 150 minutes of moderate-intensity exercise or 75 minutes of vigorous-intensity exercise per week. Moderate-intensity exercise includes activities such as brisk walking, swimming, cycling, and dancing. Vigorous-intensity exercise includes activities such as running, jumping rope, boxing or kickboxing, and high-intensity interval training (HIIT). In addition to regular exercise, incorporating physical activity into daily routines can also be beneficial. This can include taking the stairs instead of the elevator, walking to work or school, or doing household chores.
Managing Stress and Getting Enough Sleep
Chronic stress and lack of sleep can weaken the immune system and increase the risk of colorectal cancer. Practicing stress-reducing techniques, such as meditation or yoga, and aiming for 7-8 hours of sleep per night can help to mitigate this risk. Effective stress-reducing techniques also include deep breathing exercises, progressive muscle relaxation, and mindfulness meditation. In addition to stress reduction, getting enough sleep is also essential for overall health and wellbeing. Tips for improving sleep quality include establishing a consistent sleep schedule, creating a relaxing bedtime routine, avoiding caffeine and electronics before bedtime, and creating a dark, quiet sleep environment.
Getting Screened Regularly
Regular screening is essential for detecting colorectal cancer in its early stages, when it is most treatable. The American Cancer Society recommends that adults aged 45 and older undergo regular colorectal cancer screening. Common screening tests for colorectal cancer include fecal occult blood test (FOBT), fecal immunochemical test (FIT), colonoscopy, and computed tomography (CT) colonography. By incorporating healthy habits, such as a balanced diet, regular physical activity, stress management, and regular screening, into our daily lives, we can significantly reduce our risk of developing colorectal cancer.
While colorectal cancer is a serious disease, it is also highly preventable. By taking proactive steps towards a healthier lifestyle, we can reduce our risk of developing this disease. Let us prioritize our health and well-being, and take the necessary steps towards a cancer-free life.
30, Dec 2024
RG Group is all set to hand over another bunch of 600 units in 3 towers of RG Luxury Homes
NCR, 30 December 2024: Breaking the stereotype, RG Group has completed construction and formalities of another phase of RG Luxury Homes and obtained the Occupancy Certificate (O.C) for towers D, E and F from competent authorities under the monitoring of IRP (Insolvency Resolution Professional). The group is all set to offer possession and hand over the keys to 600 flat owners. Last year the group obtained OC in A, B, C and M towers comprising 850 units. The project is located in Sector-16B in the Greater Noida West, near Ek Murti Chowk in Uttar Pradesh.
RG Group is gearing up to offer possession of units and commence the process of handover in these units. As a breakthrough, RG Luxury Homes is the first project in Gautam Buddha Nagar to receive an OC after securing an order of Reverse Insolvency from NCLT and completing a stuck project under the supervision of IRP (Interim Resolution Professional).

The project is spread over 18.5 acres having the biggest landscape podium and world-class amenities to its allottees, RG Group’s RG Luxury Homes has achieved OC of 7 towers out of 9 which went under insolvency. The rest of the towers and project is under construction and will be delivered in different phases. Mainly, phase 1 of the project was affected due to proceedings in NCLT since September 2019 which has approximately 1918 units.
As per the process, an IRP was appointed around July 2021 for the revival of the project which was a massive task at that moment. During the process, the promoter expressed his willingness to complete the project and presented a very robust revival plan with the inclusion of finance and time-bound targets. The plan was well supported by all the stakeholders, and allottees, including financial institutions, Greater Noida authority and NCLT-appointed IRP.
In a concise span of three months, around October 2021, RG Group commenced the remaining construction and development work of the project again under the stringent supervision of all stakeholders and IRP, resulting in the completion of a stalled project.
Himanshu Garg, Director, of RG Group said, “Securing the Occupancy Certificate (O.C) of another 3 towers of RG Luxury Homes marks an important milestone for us. Now, we have OC of 7 towers comprising 1450 units and we are extending a warm welcome to our esteemed customers as they embark on their journey to a new experience. It is a testament to our hard work, dedication, and most importantly our willingness to complete the project at any cost that offers a modern-day living. Very soon remaining 460 units of phase 1 will be delivered.”
Mr Manoj Kulshrestha, IRP, said, “Looking at the present scenario of real estate projects hitting NCLT and prolonged resolution process, resolution of RG Luxury Homes was a challenging task in the certain period. But yes, this has created a history in the real estate sector and established a benchmark for others too.”
The IRP further mentioned that to complete the project as per the submitted plan, the promoters willingly sold their personal assets, collaborated with financial institutions and most importantly maintained the faith of the customers in the quickly changing working structure without compromising the quality of construction.
The group’s success can be attributed to its deep understanding of customers and focus on providing practical homes. The company has differentiated itself by incorporating distinctive designs to create an environment where the residents can actively participate, preserve, and connect with the green landscapes around them. The consistent effort to complete the project despite facing insolvency, arranging funds, and maintaining customer trust is a testament to the consumers.
Saurabh Jain, Advocate said “Reverse-CIRP which started with this case has proved to be a great success for real estate projects where the biggest sufferers are homebuyers. Though there were few hurdles initially, as IBC does not provide any specific provision for completion of the project by the promoter, however, looking at the kind of difficulties that the homebuyers had to face in the normal CIRP including but not limited to the uncertainty of completion of project, additional monetary demand by new resolution applicant, quality of construction or facilities being actually given vis-à-vis what is assured under BBA etc., Hon’ble NCLAT took the initiative to devise this unique mechanism for adequate redressal of all issues pertaining to real estate project where the homebuyers have invested their life time savings for their dream home.
Mr. Jain further says, Reverse-CIRP is a win-win for every stakeholder of the corporate which is inreal estate sector. It is about time that reverse insolvency process is incorporated as the first and foremost option for resolution under IBC for any corporate dealing with real estate project as the same would not only save the valuable time for the stakeholders as well as for Tribunals/Courts, but also ensures maximum benefit to every stakeholder as compared to normal CIRP where the financial creditors have to forgo a large portion of their interest in the form of haircut and the operational creditors including the statutory authorities are usually left with nothing or negligible receivable against their actual claims towards the corporate debtor.
Kumar Mihir, advocate for the IRP in the Supreme Court says,” Thanks to the proactive approach of SC and NCLAT, this project has seen the light of the day. This hopefully will be an example that real estate projects can be revived if all stakeholders work with an open mind and have a collective approach to find the solution instead of just indulging in a blame game.