M2P Fintech’s road to rediscovery has hit a bump. The partnership with Unity was one such setback. Unity has formally exited the company. Unity was by far the bigger customer. The setback hits M2P hard as one of the top fintech players in India, after raising capital from venture capital firms at improved valuations last year.
TradeCred may have reached the end of the road, according to eight HNI investors who want to withdraw their funds after alleging the invoice discounting platform bluffed them. The platform offered high-net-worth individuals the chance to invest in invoices for short-term returns. The story details a journey from sales pitches to legal notices, with many investors still waiting for their principal amount and returns. The platform is currently operating in a regulatory grey area.
The year after the Reserve Bank of India’s (RBI) action against Paytm Payments Bank started hard for the company, threatening its operational existence. However, Paytm is showing signs of recovery. In the December quarter, its revenue came in at ₹1,901 crore. The company bagged the National Payments Corporation of India’s approval for a Third-Party Application Provider (TPAP) license, marking a key regulatory milestone. CEO Vijay Shekhar Sharma has emphasized compliance.
A Swiss Federal Criminal Court ruling is seen as an indictment of SEBI and Indian courts in the Adani affair. The verdict is based on an appeal to unfreeze an entity’s bank accounts, which indirectly weighed on allegations that the Adani group’s promoters had sold/bought more shares than legally permissible, to inflate share prices. The alleged proxy is Sanilion, linked to Chang Chung-Ling. The court documents reference money laundering and embezzlement suspicions.
