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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The purported conglomerate has signed a high-profile agreement to invest in SpiceJet’s cargo business, promised to set up a high-tech chip unit in Odisha and backed two Web3 startups to unicorn valuations. In reality, it is all smoke and mirrors.
The SRAM & MRAM Group, a purported UK-based conglomerate set up by a group of Indian businessmen, has turned out to be a global scam. An investigation by The Morning Context has found that the group committed to investing billions of dollars in Indian companies and under government investment programmes. But it has never actually invested a dime and, in the process, defrauded many.
Take, for instance, the announcement by SpiceXpress. In May last year, SpiceJet’s cargo arm said it had struck a deal with the SRAM & MRAM Group for a $100 million dollar investment. SpiceJet seemed like …
Chinese diplomats to India are saying all the right things for Indian ears, but Beijing’s policy actions are moving in the opposite direction.
High returns, RBI-regulated comfort, and easy withdrawals drew investors in. Now, with repayments drying up, the fintech platform, its NBFC partner, and the regulator are pointing fingers—leaving customers to chase their own money.
The JSW Steel founder is embarking on an unprecedented expansion, betting on Japan’s JFE and Korea’s POSCO to share the load. But rivalries, debt and market risks could complicate the plan.
