Hi, Using a throwaway account. Also, I understand I need to speak with a solicitor however can't until the week after next for various reasons, hence just wanting a bit of information if possible.
My wife has out of the blue announced she wants to split. We have no children but have a house which is nearly paid off. We both earn broadly similar salaries and have broadly similar individual savings. We've not started the divorce procedure yet but are effectively "separated" but living under the same roof. We're in England.
Her plan is to move into a rented property in the near future whilst we go through proceedings. However as we're both named on the current mortgage she will obviously need to continue her contribution to that (I'll be living in the house).
The thing I'm concerned about is that she's looking at rental in a reasonably expensive area, and there's no way she can afford it whilst paying her share of the mortgage here. Which means until we're settled, she'll be paying it out of her savings. Let's say that is costing her £1000 a month, if the divorce takes say 6-8 months to go through, she's going to have effectively been spending 6-8k of her savings on that - and as we have similar levels of savings now, she'd potentially be entitled to half the difference of mine, i.e. 3-4k? She's also talking about going on holiday too with friends, which again will be from savings.
I know there are rules about trying to "hide" money in these situations to avoid a fair split, but are there any rules about just spending the money on non-tangible stuff like this? I am not looking to screw her over but similarly don't want that to be done to me.

I know there are people talking about how slow it is, too many drivers, not enough pay, etc.
But I don't see many people talking about how manipulative these guys are or different ways they manipulate.
On DD they tell you to get a 50% acceptance rate to get "priority" on bigger paying orders, but when you reach that, they' cansend you a 10 stop order. If you decline that one offer, that's 10X declines you just did. So all that work you did to bring your AR up just went to shit because they sent you some bullshit. This happened to me 2x in one week.
And everytime they have a new "program" like this it's short term and they come out with some other bullshit not long after when people figure it out. They are always plotting what they feel is ahead of you. I am sure the next program is being planned now.
On UE, I am pretty sure at this point it can't be a coincidence that I mostly get UE offers or get a lot more, after I finally accept a doordash order. There's no way I could possibly prove this, but I could be driving around for an hour and get maybe 1-2x Uber offers in an hour, but when I finally take a doordash offer UE does not stop sending me shit. Yes, I am informed that you have to move and not sit still, that's not what I'm talking about. When it is a slow day, this is especially obvious. UE also likes to make impossible to reach quests lol like what companies do to managers to meet unreachable KPIs.
I'm not one for government intervening on businesses but these assholes are something different. I was a dispatcher for various trucking companies for years and their manipulative practices were not nearly this bad.

I'm looking to make the transition from company driver to owner operator so I was wondering if I could ask you fine folks, that are on that side of the business, a few questions.
How much do you pay for a new truck?
How much do you end up selling it for?
What sort of MPG do you get out of a new truck? How about when you're about to trade in?
How much of a fuel discount do you get with a specific franchise?
What do you budget for yearly maintenance on a new truck versus an old one?
How many miles do you expect to get out of a set of tires?
How many miles would you expect to get out of a truck before it needs major work? What sort of work is that and how much could that cost?
How many miles are engines these days good for?
How much is insurance for your truck?
How often do you lose a truck?
What is the cost per mile for your truck?
What other expenses on the truck need to be covered each year?
What is the average load rate per mile? How low and high does it generally go?
What is the minimum rate you'll take?
How long after completion of a load does it generally take for the money you deposited in your account?
How many miles per week do you average?
What sort of profit do you expect to see out of a truck each year?
If you have more than one truck what is the added expense for a driver over what they are paid? From what I've heard it's somewhere around 30%.
What sort of taxes do you have to pay each year? Do you file quarterly or annually?
Thank you very much for your time.

Branding and marketing strategies play a crucial role in the success of fast-moving consumer goods (FMCG) companies in India. FMCG companies operate in a highly competitive market where building strong brands is essential for attracting and retaining customers. Let's explore the key elements of branding and marketing strategies employed by FMCG companies in India.
Advertising: Advertising is a vital component of FMCG companies' marketing strategies. They use various advertising channels such as television, print media, digital platforms, and outdoor advertising to reach a wide audience. The objective of advertising is to create brand awareness, communicate product benefits, and influence consumer buying decisions.
Packaging: Packaging plays a crucial role in FMCG branding as it serves as the first point of contact with consumers. FMCG companies focus on attractive and functional packaging designs that stand out on store shelves and communicate the brand's value proposition.
Pricing: Pricing is a critical aspect of FMCG marketing strategies. FMCG companies carefully analyze market dynamics, competitor pricing, and consumer preferences to determine the optimal price points for their products. Price positioning can vary based on factors such as product quality, target market segment, and brand positioning.
Distribution Channels: The distribution network plays a vital role in the success of FMCG brands in India. FMCG companies strive to ensure their products are available to consumers conveniently and efficiently.
The importance of advertising, packaging, pricing, and distribution channels in building successful FMCG brands can be summarized as follows:
Brand Awareness and Differentiation: Advertising helps create brand awareness and build a positive brand image in the minds of consumers. Packaging plays a vital role in differentiating products from competitors and attracting consumers' attention.
Consumer Perception and Loyalty: Effective branding strategies through advertising, packaging, and pricing influence consumer perception of the product quality, value proposition, and trustworthiness of the brand
Competitive Advantage: Effective marketing strategies help FMCG brands gain a competitive advantage by establishing a strong market presence, enhancing brand equity, and capturing a larger market share.
Market Reach and Accessibility: Distribution channels ensure that FMCG products are available to consumers at various locations, making it convenient for them to purchase.
In conclusion, FMCG companies in India employ various branding and marketing strategies to build successful brands. Advertising, packaging, pricing, and distribution channels are integral components of these strategies, helping FMCG companies create brand awareness, differentiate themselves, attract and retain customers, gain a competitive edge, and ensure their products are easily accessible to consumers.

Hello, I’m from a multi-national company (blue and white) if you can guess it. We are currently hiring an entry level role for Licensed Chemists! (BS Chemistry Grads), work location is at Cabuyao, Laguna and can be assigned on a shifting schedule.
You will be working on a high standard setting for ownership, management, monitoring systems with a competitive compensation and benefit package.
ps: Doing this to help someone who badly need a full time job, and for the ref fee.
msg me!

So I’ve been with my partner for 8 years and I always struggled with PTSD due to being the victim of an armed robbery. Moving in together 1 year later into it, I filed to sui the company for negligence. we managed to buy a property with my TPD insurance for deposit from my super for the home which totalled most of the mortgage itself.
I’ve recently been compensated for my damages claim and will have to pay the remainder of the house with some of that. We have reached the conclusion that we don’t work being together and want to move on with our lives. He has been, can and is working atm paying the mortgage and rates .. I haven’t been able to due to the permanent impairment I have been diagnosed with. How the heck would this negotiation go separating from him? Would I have to go halves right down the middle with him in everything my money has gone into it given I won’t be working again and have no super yet he can work up until retirement? Unsure of the rights involved

The vast majority of players have green arrows for growth when your club has semi decent training facilities. It would be more challenging if there was more chance of making bad transfers.
Players with an overall well above your team’s average should also be able to reject moving to your club, minus some added probability if they’re from your club’s nation and/or really old.
Smaller transfer offers should be made for your players if you’re at a smaller club or in a lower level competition. This could be offset by a boost to funds for winning in competitions or progressing further in cup comps.

Learning to drive - something perhaps I should have done at 18 (ample time but no car or money to learn) and at now at 36 you have the money to learn but no time. Like most working professionals in Dubai, our jobs are demanding so carving time out to learn needs to be well planned and fruitful.
If this post could do anything, I hope you can learn from my mistakes, so here goes:

1. Picking Finance If you are a new driver (having never driven back home either) - take the unlimited/contract option with your driving school. It will cost nearly double the normal package but is worth it because you don't have the financial stress of paying more if you fail - I didn't think it would be this difficult to pass and I was wrong. In Dubai you need to complete 40 hours to take the test (split between parking and on road), for a new new driver this is simply not enough hours to build confidence (this is why you hear of so many stories of people repeating the test - in particular new drivers). To compare, in a Melbourne, Australia the minimum hours needed is 120.
2. Picking a Driving Institution, pick wisely. Most people review the online comments to gauge how good a school is. The tip here is to talk to friends, family or colleagues that have passed out a particular branch/location. The opinion of the brands (EDI, DDC, Belhasa, Galadari) vary among people and I didn't find it an accurate measure but the branch is more important. I used Dubai Driving Institute in Al Quoz. Nice range of instructors but the location is a challenge. I will explain later in the post.
3. Selecting a Driving Instructor in most cases you will be assigned a driving instructor. As a first time driver, you aren't going to know if your instructor is good or bad. What you should ask yourself after the four classes is - does this person spend a lot of time on their phone? Does this person stop my mistakes or does this person teach me how to do it correctly? The latter is more important. If you aren't learning, request for a change and don't be worried about what people will think - you are paying to be thought.
4. Driving Institution Location - this is an important factor in where you learn to drive. Al Quoz is an industrial area filled with large trucks, commercial buses, vehicles and in general traffic at all times. To add to this you have drivers who aren't as courteous, will cut, will not signal, you have pedestrians crossing at undesignated areas, road cleaners and people moving on the wrong side of the road with their little scooters, cycles and mopeds. As a learning area, it reminds one a little of driving in India / Egypt. For a first time driver, perhaps there are easier routes to train in like the Dry Docks or DIP.
5. Passing the Theory Test - really straight forward, complete the course and practice the mock exams theory + video scenario. There are a pool of about 300 odd questions, from which you get 40 (35 theory + 5 video scenarios) on your RTA exam. Only when you can consistently secure 90% plus on the mock exams, you should attempt the RTA Theory Test.
6. Passing the Parking Test - the first tip is to practice this in the location you are doing the test. I practiced it at the Al Quoz Branch but did the test at the Al Khail branch - the reason behind this is the automated testing facility is here and you need to familiarize yourself with the automated vehicle. The second tip, which I learned from one of the senior trainers is - parking is mathematics, if you get the basics right you'll be able to park consistently. Watch this video: https://www.youtube.com/watch?v=oTeIdxINoO8&t=524s it will greatly benefit you. I passed the hill park, emergency breaking, parallel parking and angle parking on the first go. Failing only garage because I have a problem with the method from the training school.
7. Garage Parking - at the school, they train you to use the sticker indication on the rear passenger window which is bonkers (its apparently a trick to help students pass you can see this in 12:06 of the video shared above). The challenge with this method is depending on your height, seat location, backrest location or whether you wear glasses all affect the angle. For the longest time I couldn't crack this as I kept getting or failing by small margins. The easiest way to pass this is to angle the car in and readjust it in front of you (the RTA allows you to do this in the test) before parking. Again here only attempt the parking when you have cleared the internal mock tests.
8. RTA Myth - they have a quota of people to fail everyday, this is not true - you can either drive or not it's that simple.
9. RTA Instructors - have different temperaments, if you are nervous it will reflect when you drive and they can pick up on that. Test when only when confident.
10. Mental Pressure - it took me seven attempts, I remember distinctly when I failed the third time, I wanted to give up. Instead I reframed my thinking to accept that failing the test simply meant the RTA was keeping me safe by telling me I didn't have sufficient knowledge to be on the road. The second change I made was to stop comparing myself and telling people about my test - failing stopped becoming a burden.

Failures
Driving Test Failures - all my failures where down to one key thing - situational awareness. I was thought what to do on the road but not how to think on the road. This his impacted my decision making/confidence. You can only gain situational awareness when you have been on the road long enough and hence why I would encourage new drivers to get at least 60 to 80 hours before they take the test. Most people won't talk about their failures, I will tell you about mine with the hope you can learn from it.

1. Failure 1 - attempted to cross the T junction without sufficient gap (I couldn't assess distance vs speed). What I should have done is let the speeding car pass and then cross.
2. Failure 2 - this is the only one I was unhappy with the judgement. I waited 'too long' to move into a lane to overtake, I was told during the test I was failing because I will cause a traffic jam. All I wanted was a clear road to be able to safely take the car. Debatable.
3. Failure 3 - turned into the second lane instead of the third lane at the U-turn. Correct thing to have done would have been to turn into the third lane.
4. Failure 4 - attempted to merge on to a road without sufficient gap. I was thought to take the gap, the correct thing for a driving school car to do is to wait for a clear road where there is not debate on the distance x speed.
5. Failure 5 - there was a cleaner on the road at the before signal turn (this happened in the afternoon), I slowed down and moved to the left but the correct thing to have done was slow down, blow horn, indicate to move to the left (even though the line is being cut).
6. Failure 6 - I made an assumption that a taxi to my left would wait/allow me to pass but he was in a hurry and entered the round about a second before I could. I should have just waited, allowed him to pass.

Through all my tests - vehicle control, lane changes and general observance of rules was good. The lack of situational awareness cost me, especially judging distance x speed.
Tips to Pass the Test
Besides the normal things, here's ten things I wish I knew before I started:

1. You are likely to test in a Nissan Sunny, the steering wheel has a notch below it to adjust it. Adjust it to the top most position position, this will build familiarity in your mind and the position is always the same. An internal examiner showed me this - after five months.
2. Build a routine when you get into the car - adjust seat, adjust mirrors, then seat belt, then check for passenger seat belts. This routine becomes habit and habit will give you confidence.
3. When you drive, check your rear view mirror every 5-8 seconds. Improves situational awareness.
4. If you turn anywhere, just indicate. Make it a habit.
5. In Al Quoz, indicate about 10 meters before the turn as there are lots of little garages/shops and drivers behind might think you are going there instead.
6. Assume everyone on the road is unpredictable, it will train you to be a better defensive driver.
7. If you are testing in Al Quoz, I recommend to test in the morning.
8. Examiners are there to test basics and observe your understanding of the road. They're never going to ask you to try a lane change when the situation doesn't permit - what they will check is your judgement of the situation.
9. Don't compare yourself to others.
10. The vehicle on the left has priority.
11. If you finish your internal classes, test within three days.
12. Know where your pedestrian crossings are. Pedestrians in Al Quoz take this space for granted.
13. If you are in the left lane at a pedestrian crossing, you are expected to indicate and cross at the right - the examiner won't ask you but its expected (have seen people on the test fail for this).
14. If you happen to fail, try and book classes to learn immediately - don't be dejected or give up, everyone goes through it. The quicker you learn, the quicker you are able to test again. The momentum of wanting to learn and taking the test is what will drive you.
15. At a round about, learn to exit and enter from every direction. Have seen other test members in the car who are so used to doing one thing, they forget when the examiner takes them to a new route.
16. Know your area you are testing in - you'll be able to anticipate the roads you are connecting and the environment before you get there.
17. If testing Al Quoz, use your horn - trust me you'll need it.
18. Learn to start the car (most cars are already started when you enter). Occasionally if you go first, you might be asked to start the car.
19. If you're asked to lane change, don't forget to check your blind spot.
20. On the day of the test, arrive a minimum 30 minutes early and say a small prayer - both of these will soothe you.
21. Given how busy Al Quoz is, some of the Stop lines have faded or are covered with dust, don't let this fool you - know these spots, look for the boards and stop.
22. If you don't have the confidence, don't test.
23. Assuming you have practiced 80 hours thats a total of 4,800 minutes, your test is 10 minutes - you got this.
24. Always remember, the RTA is out to keep you safe. If they fail you, they are saving you.
25. Unlike the Parking Test where there are 5 things you are tested on, there's not menu of items you have for the Driving Test but here's the top 5 things you definitely need to know: Situational Awareness, Lane Change, U-Turns into 2 & 3 lanes, Merging, Entering/Exiting Roundabouts

Finally, seventh heaven - aced the test on this attempt. Unlike before I was confident and calm. I arrived early, said a small prayer, did the same routine I always do when I enter the car, drove confidently - on the day had to enteexit a round about, do a u-turn, a couple of t-junctions and lane change twice - entire thing lasted ten minutes.
If you have found this post it's probably either you have failed and you are looking for some hope and guidance, I hope the above is of some use to you. To conclude, you need two key things going into the test experience and confidence. Experience comes from repetition, repetition builds confidence.
All the best.
​
​

I have been accepted to a graduate program and I’m so excited because the school is hard to get in, and I was so excited to progress in my career. However, I am now 10 weeks pregnant and nervous how to do it all. My due date is mid January, right when second term starts.
Apart from new baby, and the program, my husband and I are moving to London for the program, and because he’s transferring with his company.
Has anyone here had a similar experience, did you see it through, did you have help, and if you didn’t how did you manage? Also anyone that’s a mom in London and working any tips?

I've been living in Poland for over 4 years now, and one thing I cannot get over is railway websites or any other ones which are selling train tickets.
They are just so HORRIBLY made that I cannot believe it. Now, I know those websites can be bad in some other countries too, but it's surprising me that's the case in Poland where digital services are in general quite good or advancing rapidly.
Just to give few examples:
Rozklad. Whenever you want to change destination, time or date, the fucking website zeroes everything and you need to start from the beginning. I've learned by now how to deal with this, but that's not the fucking point to make customers to SUFFER to give you money. This websites combines all the service providers which is the reason I use it, but the whole website just screams: "if you want to buy a ticket, you better see some effort first, you whiney little bitch."
Also no intermediary stops visible, at least conveniently. If you want to check them, you are taking a risk that everything goes to zero again if you do one wrong move. Also the train number seems to differ with 1 digit everytime compared what's showing in the schedule board at the train station. Also I'm getting 3, THREE, different confirmations to my email. But this is not fault of Rozklad, but the railway company.
Intercity. This is okay, but still far from ideal. The page scrolls you up every now and then, and it's just really tacky. Definitely took me around 5-10 ticket purchases before I was confident with this. Unexplainable errors often. In general very unintuitive.
Tried few others too, and they have same characteristics, but additionally they require registration. Of course, because why not, buying a train ticket must be something that requires me making yet another account.
That's it. Fuck you Polish railway service providers.

Original Source: https://boringmoney.in/p/byjus-is-sued-by-its-lenders (my newsletter Boring Money -- please visit the link if you'd like to subscribe and receive similar posts in your inbox)
--
Four years ago I read an article in The Ken titled The making of a loan crisis at Byju’s. The gist of the story was that Byju’s was an edtech doing phenomenally well selling its digital courses to parents of young students. But these courses were expensive and these parents were poor. So it was also selling them loans to buy these courses. Only, without telling them. Parents would expect a course (which could be cancelled) but would end up with a loan (which couldn’t be cancelled).
Three days ago, Byju’s went to court in New York. Here’s the headline from TechCrunch: Byju’s sues ‘predatory’ lenders on $1.2B term loan, won’t make further payments.
Byju’s is a company that, arguably, made a business out of giving out predatory loans. Now it’s sued its own lenders and accused them of being predatory. I’m not saying that this is poetic justice but.. okay, scratch that. This is poetic justice! If Shakespeare were a finance writer this is the kind of stuff he would come up with.

Everyone wants to lend to Byju’s

In 2021, interest rates were low, loans were cheap. Tech startups were doing great, edtech startups were crushing it. Byju’s, not one to be left behind, had raised a lot of money but money was cheap so it also wanted to borrow. It wanted a $500 million loan from lenders in the US, which it wanted to use to acquire companies there. Instead, it ended up borrowing more than double—$1.2 billion—because lenders practically wanted to throw money at this overachieving edtech startup from India. [1]
The way a term loan such as this works is:

1. A company goes to an investment bank and asks for a loan
2. The bank syndicates this loan to investors, who become the lenders. Everyone comes together in a room and negotiates the specifics of the loan (which can be quite complex, as we’ll see)
3. The loan goes through and everyone’s happy. Presumably, the company likes its lenders, the lenders like the company
4. The original investors might sell the loans they own to other investors. The company’s only talking to an administrative agent representing the lenders, so over time it might not even know who its lenders are

In November 2021, prominent investment managers such as Blackstone, Fidelity and GIC had gone overboard to lend money to Byju’s. By September 2022, Byju’s lenders were desperately selling [2] their loans at a 36% discount on the principal. (Today, Byju’s debt is at a 20% discount, which is also bad.)
It’s likely that Blackstone, Fidelity and other of the OG lenders aren’t Byju’s’ lenders any more. They’ve almost certainly sold off their loans at a loss. Better get paid something than get paid nothing.

Dealers of the dead

If a company’s debt is being sold at a 36% discount, it’s because investors think that the company is unlikely to repay its loans. If you buy such a loan, you potentially stand to gain a lot—because of the discount—but well, you might also just lose everything.
If you’re a regular investment management company, like Blackstone, you don’t want to invest in such a loan. Your investors gave you this money to get predictable returns. If they wanted risk, they’d ask you to buy stocks. You don’t want to get into a fight with your borrower. If you feel they will not pay you back, you take a loss, sell the loans, move on.
If you’re a distressed debt investor, your entire business is to buy such distressed loans from regular investment managers like Blackstone. You’re going to get nasty borrowers who are unlikely to want to repay their loans but that’s okay. Because you’re nasty too. You spend less time on financial models, more in courts and around lawyers. You like to fight to get your money back. Sometimes you might lose, but the times you win, you win big. The wins cover your losses and some more.
Blackstone and the others sold Byju’s’ loans in desperation, and they were almost certainly bought by distressed debt investors. We don’t know who they are exactly, but Byju’s has indicated that one of them is Redwood Capital, a New York-based distressed debt investor.
If you’re a distressed debt investor, this is how it works:

1. You get a loan for super cheap
2. If the company repays its loan, great! You make a lot of money
3. But the company isn’t likely to repay, which is why you got the loan for cheap in the first place
4. So it’s in your best interest to not let the company die a slow death. Instead, you want to kill the company quick. You take the company to court ASAP and take all the money you’re owed while it’s still there

If the new investors waited, say, for a year, and took Byju’s to court after it had actually defaulted on its repayments—there might not be any money left! Byju’s may have given all the money to Lionel Messi or maybe laundered it away someplace the lenders wouldn’t find it. If you’re a distressed debt investor, you want to get Byju’s to court and get the court to force it to do whatever it takes to pay you back.
Last month, Byju’s’ new lenders sued Byju’s in the Delaware Court of Chancery [3]. We’ll get to the official reasons for this lawsuit in a bit, but what’s important is that Byju’s was not being sued because it defaulted on a payment. It hadn’t. It was being sued because the distressed debt investors expect it to default sooner or later, and they would prefer dealing with it sooner rather than later.

Lenders go for the kill

Usually, the finer details of corporate loans such as Byju’s’ aren’t public. But thanks to the multiple lawsuits we know quite a bit here.
The loan was made to Byju’s’ US entity and it was secured with guarantees from multiple Byju’s companies. From Byju’s’ lawsuit this week against its creditors (which I will get to), here are the guarantors:

1. Byju’s entities in India and Singapore
2. Byju’s’ US and Singapore acquisitions; companies including Oros, Epic, Great Learning, and Neuron
3. Whitehat India, Byju’s’ famous Indian acquisition

That’s a lot of companies guaranteeing a loan! Byju’s’ Indian entity is the parent of all the other guarantor companies, so having it as a guarantor should’ve been enough. I guess the rationale here was that it would be nice to have some non-Indian companies in the mix too, we do know how efficiently Indian courts work.
Apart from Byju’s the parent company itself, Whitehat was the only other Indian company guaranteeing this loan. The problem was that Whitehat itself, on paper, had negative net worth. It had probably taken loans of its own and did not have enough assets to cover them. In practice, this would be irrelevant, because Whitehat was owned by Byju’s and it would cover any of Whitehat’s liabilities. But, apparently, RBI regulations require Indian companies with negative net worth to take its approval before guaranteeing a loan. So even though Whitehat was a guarantor, the guarantee was meaningless until RBI granted its approval.
Yeah, well, RBI didn’t grant its approval. From the lawsuit:

Plaintiffs, Borrower, and Lenders had a call on or around October 6, 2022, to discuss the Whitehat Guarantee. In a good faith effort to negate any impact of the new regulations, Plaintiffs and the Borrower offered to move all assets out of Whitehat India into other subsidiaries of the Parent Guarantor that are Guarantors to the Credit Agreement, or are owned by Guarantors of the Credit Agreement.
Lenders rejected this proposal without justification.

In October 2022, after Byju’s’ debt was already sold to the distressed debt investors, the company spoke to its lenders and informed them that it was unable to get RBI’s approval for Whitehat to be a guarantor. Instead, it offered to move Whitehat’s assets into other companies and then use those companies to guarantee the loan. Which would really have been the same thing. But the lenders refused! Why?!
Continuing from the lawsuit:

Lenders subsequently asserted that an event of default under Section 8.1(e) of the Credit Agreement (an “Event of Default”) had occurred due to the failure to procure the Whitehat Guarantee.

Oh, that’s why. Byju’s’ lenders—distressed debt investors that wanted Byju’s dead ASAP—used the fact that Whitehat couldn’t be a guarantor of this loan to claim a default and use it as a reason to take Byju’s to court in the US. Honestly, I’m impressed. The Whitehat guarantee was redundant to begin with, but the lenders had found an out and their official reason #1 to take Byju’s to court.
Oh, there’s another thing. In June 2022, The Ken reported that Byju’s’ financials for 2021 had been held up by its auditors because of certain, umm, creative accounting. By this time, Byju’s should have ideally filed even its 2022 financials. It was very late! From the lawsuit:

The FY’21 Audit was delivered to the Lenders on August 30, 2022. It did not contain a “going concern” qualification or any similar qualifications about the Parent Guarantor’s ability to continue into the future.
However, the FY’22 Audit could not begin until the FY’21 Audit had been completed, and the Parent Guarantor’s business has continued to grow rapidly

Byju’s’ 2021 financials were held up because auditors weren’t giving the company their go ahead, so of course its 2022 financials were held up as well.

On or around August 29, 2022, Shearman & Sterling, LLP (“S&S”), counsel for GLAS, sent a letter to Byju’s Alpha and Think & Learn requesting certain financial disclosures from Plaintiffs and Borrower, and asserting that the failure to deliver this financial information was a breach of the Credit Agreement.
...
Rather than actually suffering any damage from the delayed FY’22 audit, Lenders opportunistically used this unintentional and non-material delay to exert pressure on Plaintiffs and the Borrower to extract onerous economic concessions.

I love it! Byju’s’ financials were delayed. Its agreement with the original lenders said that the company must share its audited financials with them. Byju’s wasn’t able to do that. The lenders found their official reason #2 to take Byju’s to court.

Byju’s sets up an offence

Before the lenders sued Byju’s last month, Byju’s tried its best to negotiate a deal. It gave the lenders an assurance of the company’s financial health, gave them concessions worth “tens of millions of dollars” and requested (pleaded) to take back their claims of Byju’s defaulting.
The lenders refused. They asked for either the full principal back or two-thirds of it, with an increment of 7% (!!) in the interest rate. Byju’s, of course, said no.
At this point, Byju’s knew that the lenders weren’t going to negotiate realistically. So it prepared its own offence. From the lawsuit:

The Credit Agreement prohibits transfers or assignments of the Lenders’ interests in the Term Loans to “Disqualified Lenders.”
The Credit Agreement includes in its definition of Disqualified Lender “[a]ny [] Person (including an Affiliate or Approved Fund of a Lender) whose primary activity is the trading or acquisition of distressed debt,” and “those banks, financial institutions and other Persons separately identified by name . . . on or before the syndication . . . (which may be updated . . . from time to time . . .)”

In its agreement with the original lenders, Byju’s had put in a clause restricting its loan from being transferred to distressed debt investors. This is a risky clause to agree with, because it’s only these folks that buy loans that turn sour, but the original lenders had gone with it.

On information and belief, the entire course of Lenders’, and Defendant’s, bad-faith conduct has been driven by these distressed-debt lenders, who were never meant to have been lenders in the first place, and who acted with the intent of causing harm to Borrower and Plaintiffs. Meanwhile, Borrowers and Plaintiffs were initially unaware that the lenders were in fact being controlled by distressed debt dealers, and were therefore unable to take action to prevent their bad-faith plan from being implemented.

In its lawsuit this week, the crux of Byju’s’ argument is based on the fact that its loan is owned by distressed debt investors who were not eligible to be owning its debt in the first place. Also interesting is that Byju’s doesn’t seem to know who these lenders are. In its post-lawsuit statement, Byju’s named Redwood as one of the lenders, but it’s not named anywhere in the lawsuit.

Now what?

If push comes to shove, does Byju’s have the cash to pay off its lenders?
Last month, Byju’s transferred $500 million out of its US entity. The lenders had filed their lawsuit and there was a chance the court would freeze Byju’s’ US entity’s assets, so this was a precautionary move. So Byju’s has this $500 million. But that seems about it. Byju’s has been in the news saying that it’s trying to raise $700 million to pay off its debt. Yeah, between the horrible edtech market and the colourful lawsuits Byju’s is in, good luck with getting investors to donate their money to Byju’s.
But of course, Byju’s is now suing its lenders too. It does have an agreement that says that its debt can’t be held by distressed debt investors. So it’s not a frivolous suit.
Can Byju’s win? Sure. It would still have to pay its debt eventually. And it’s not straightforward. There are probably tens or even hundreds of lenders. It’s apparent that the distressed debt investors are the guiding force behind the lenders’ lawsuit, but it’s definitely not necessary that they form the majority of the lenders. In which case, Byju’s’ whole lawsuit falls apart.
The lenders are saying Byju’s defaulted by not keeping its part of the agreement, even though it had technically paid its dues. [4] Byju’s is saying that the lenders shouldn’t be the lenders in the first place and must be disqualified. We’ll see who’s right.
​
Footnotes
[1] It was a 5-year loan with a floating interest rate of 6% over Libor. Think of it as 6% over this magical interest-rate called Libor that some fancy-pants banks set amongst themselves everyday. Back in November 2021, Libor was at 0.25% and this was a 6.86% interest loan for Byju’s (the floor for Libor was 0.75%). Today, Libor is at about 5.64% and it’s an 11.6% loan.
[2] Multiple reasons for the investors to sell. One, interest rates went up and cash became more dear. If they had money stuck with Byju’s, it was money not being lent out to someone else. Second, edtech all around the world was in trouble. Kids were back in school and people didn’t think much of them anymore. Third, Byju’s as a company was showing its red flags.
[3] What a cool name!
[4] Until now, that is. Byju’s filed its lawsuit this week the same day it was supposed to make a $40 million interest payment.
​
Original Source: https://boringmoney.in/p/byjus-is-sued-by-its-lenders

Transportation is considered an essential component in the logistics sector because it assures the timely delivery of products from one place to another. Though there are several modes of transportation available, it is important to select the right one for your logistics requirements. This blog contains a discussion regarding distinct modes of transportation and when to use each, with an emphasis on CG Logistics' innovative logistics solutions.

Air transportation

In the logistics sector, air transportation is a significant mode of transportation, particularly for goods that must be transported rapidly and over long distances. CGL provides air transportation services through its collaboration with numerous aircraft charter companies and air charter companies in India.
In the context of air transportation, there are distinct types of aircraft that could be used, based on the size and weight of the cargo and the destination and urgency of delivery. For example, smaller cargo might be transported through light aircraft, while heavier and larger cargo might require the use of cargo planes and even commercial airlines.
CGL India has entered into partnerships with some of the best air charter companies that support it in delivering clients with a number of transportation services, including air freight, air cargo, and air charter services. Through these partnerships, CG Logistics is able to offer clients access to a large fleet of aircraft that could be used for numerous forms of cargo, from small packages to oversized and heavy cargo.
One of the primary benefits of air transportation is that it provides faster delivery times in comparison to other modes of transportation, like sea or road transport. For example, products that will take numerous weeks to transport by sea can be transported by air in a matter of hours or days, depending on the destination. This makes air transportation a preferred mode of transportation for urgent and time-sensitive cargo.
CGL also offers air transportation services for project cargo movement that include the transportation of complex and significant cargo for industrial projects. Such cargo may involve heavy equipment, machinery, and other oversized items. CGL India has the expertise to handle project cargo transportation through the air, ensuring that the cargo reaches its destination safely and efficiently.
Along with the air transportation services, CGL also provides customs clearance services for air cargo and air freight, ensuring that all relevant rules and regulations are complied with and the cargo is cleared for export or import.
Overall, the role of air transportation is vital in the logistics industry, and CGL offers a range of air transportation services through its partnerships with aircraft charter companies and air charter companies in India. With its capabilities in project cargo transportation and customs clearance services, CGL is capable of ensuring that customers’ cargo is safely and efficiently transported to its destination through air transportation.

Road transportation

Road transportation is a significant element of logistics and plays a major role in the timely delivery of products. It is normally the most simple and cost-effective mechanism for transportation for domestic shipments, particularly for short distances. CGL is one of the leading logistics service providers in India and provides a wide range of road transportation services to satisfy the different requirements of customers.
CG Logistics runs a large fleet of vehicles ranging from small vans to heavy-duty trucks. The vehicles are equipped with modern tracking systems, supporting real-time monitoring of the location and status of shipments. This assures that clients can track the movement of their goods at any time, giving them complete visibility and peace of mind.
One of the significant benefits of road transportation is its flexibility. Unlike other methods of transportation, road transportation permits the transportation of goods to almost any place, even those that are not accessible through other modes of transportation. This makes road transportation an ideal mode for the transportation of products to remote areas or places with poor connectivity.
Another benefit of road transportation is its speed. It is normally faster than other methods of transportation, particularly for short distances. This makes it an ideal selection for time-sensitive shipments that must be delivered rapidly.
CGL India provides a range of road transportation services, including full truckload and less-than-truckload transportation. FTL is appropriate for clients who need to transport a large number of goods, while LTL is appropriate for clients who need to transport smaller quantities of goods.
Along with traditional road transportation, CGL also provides other value-added services like warehousing, distribution, and customs clearance. This permits clients to benefit from end-to-end logistics solutions, saving them both cost and time.
Overall, road transportation is a significant element of logistics, and CGL is committed to offering reliable and efficient road transportation services to its clients. With a significant emphasis on innovation and technology, CGL is well-positioned to satisfy the evolving requirements of customers and the logistics sector as a whole.

Rail Transportation

It is a method of transportation that uses trains for the purpose of moving goods from one place to another. Rail transportation is considered an efficient and cost-effective method of moving large volumes of cargo over significant distances. In the logistics sector, rail transportation is a vital element of the supply chain, particularly for the movement of bulk goods.
CGL understands the significance of rail transportation and provides a comprehensive range of rail freight services to its clients. The rail transportation services of the company are designed to cater to the particular requirements of each customer, and they provide a cost-effective and efficient manner of moving goods across the nation. Moreover, CG Logistics is engaged in providing effective rail logistics solutions for customers in places lacking alternate modes of connectivity.
The following are the main benefits of rail transportation:

• Cost-effective: Rail transportation is usually cheaper than other mechanisms of transportation, particularly for long distances and large volumes of goods.
  
• Reliable: Rail transportation is recognized for its reliability and punctuality. Normally, trains have fixed schedules and routes that support the timely delivery of products.
  
• Environmentally friendly: Rail transportation is considered a more environmentally friendly method of transportation than road or air transportation. Trains generate fewer emissions per ton of cargo moved.
  
• Capacity: Rail transportation has a significant capacity to move a large volume of goods, making it an ideal choice for bulk products.
  

CGL’s rail transportation services include the following aspects:
Rail freight forwarding: CGL provides rail freight forwarding services to move goods around the nation.

• Door-to-door delivery: The rail transportation system of CGL involves the door-to-door delivery of products, making it simple for clients to move goods from one place to another.
  
• Containerized transportation: CGL is engaged in providing containerized transportation services that permit the safe and secure movement of products.
  
• Project cargo movement: The rail transportation services of CGL can be customized to suit the particular requirements of clients, involving the movement of heavy and oversized project cargo.
  

Overall, in the logistics sector, the role of rail transportation is vital, and CGL recognizes its significance by providing a range of rail transportation services to its clients. With its reliable, cost-effective, and environmentally friendly rail transportation solutions, CGL is capable of satisfying the requirements of clients across the country.

Integrated solutions for CGL India

CGL has over 20 years of experience carrying tailor-made end-to-end solutions for integrated freight logistics for all scales of organizations around industry verticals. Through analyzing the prerequisites, experts at the company work to optimize the best solutions that save time and money for safe deliveries around the world.
Moreover, CGL India provides a range of integrated solutions that support clients in selecting the correct mode of transportation for their logistics requirements. As one of the best logistics companies in India, CGL provides customized solutions that include project cargo management, international warehousing services, project cargo handling services, and cargo transportation.
One of the main characteristics of the integrated solution offered by CGL India is its ability to integrate with other systems. The platform could be integrated with a variety of business systems, like an ERP system and an order management system, to offer businesses an overall view of their operations.
CGL’s integrated solutions also provide a range of value-added services like packaging, customs clearance, labeling, and many more. This could support businesses in simplification of their logistics operations and decrease the administrative pressure connected with the management of logistics.
Overall, the integrated solution of CG Logistics provides a comprehensive range of logistics solutions that can support businesses in streamlining their supply chain activities, optimizing their logistics procedures, and decreasing costs. CGL’s integrated solutions can help businesses stay competitive in the current fast-paced business environment.
In a nutshell, selecting the right mode of transportation for your logistics requirements is crucial to ensure the timely delivery of products. By providing a comprehensive range of logistics solutions that involve air, sea, surface, and rail transportation, CGL assures that clients have access to the correct mode of transportation for their logistics requirements. With an emphasis on innovation and technology, CG Logistics offers integrated solutions that support the optimization of supply chain efficiency and help clients stay ahead of the competition. In order to know more, connect with us.

My wife is a Thai national and we married in the United States in 2012 and have a United States born daughter. In June 2020 she went home to help her family during COVID-19. In 2021 my job involved me moving to Thailand, and working in Thailand and we have lived in Thailan’s together since then.
I have a note from my employer stating that my work is based in Thailand and Southeast Asia, Because she is not currently able to stay in the United States for six months a year, how can I upload this note to her immigration file so that she can retain her green card?
We are currently living in Thailand with our daughter, but plan to live in the United States again in a couple of years.
I’ve looked on the website and see no way of doing this. There are places for uploading other official documents, but not a letter from an employer. She was last in the United States for several weeks last June and her current green card status is under review

I don't want this to be too identifying so I'll keep the description of events vague.
Several years ago my partner's family 'helped us' buy a home. The scenario is a little weird, but we were moving internationally for my partner's career, and without consulting (or even pre-warning) me my partner's family announced that they'd put a down payment on a house for us to live in, in the new country.
I was uncomfortable with the situation as we'd not discussed the issue at all and I wasn't sure if we could even afford the mortgage, but it was awkward because the house was framed like a gift to us, and my partner was relieved to have a home sorted in our new country. The house was directly represented to us as 'our' house, and so I also understood what a privilege it was to be able to contribute to our own mortgage rather than pay rent.
But problems began almost right away. It took me a few months to find a job in the new country and my partner was very stressed paying the bills. When I found a job, he asked that I provide him with my full income each fortnight to cover my contributions to the mortgage and bills. As my pay rose amidst promotions over the years, so did the sum he asked for. Eventually when my salary rose to be equal to his, I persuaded him to 'let' me keep a portion of my income in a separate savings account. Otherwise, he has insisted that he be responsible for paying the bills, which he does out of his personal account that I transfer money to.
Recently my partner is looking to move again for his career, and we are weighing the options of what to do with our home. Amidst this, it has come out that 'our' house is actually purchased and owned by my partner's family trust. I'm honestly flabbergasted. Over the past several years I've contributed over $300,000 to what I believed were mortgage payments and home renovations. My partner has now revealed they view that money as rent.
This has obviously caused a huge problem in the relationship. I'm not happy about being in my 30s and having no assets to my name, and I also feel like I've been douped into a rental situation which has significantly limited my prospects to build up any assets of my own. I've naturally relayed these concerns to my partner, but he refuses to engage with me on this and is really just feeding me non committal answers until I drop it. I just want to know what the legality of all of this is?
I've never signed a rental agreement, so I'm not sure if I can just be declared a renter? I don't even know how I want to proceed, but my biggest worry is that if either one of us decided to bail on the relationship I'll be completely fked over financially.

I'm working in trucking for 5 years now and in that time I've seen my health decline and I lost a marriage because of it.It wasn't the only problem but it was a major factor. Working OTR meant I was on the truck for months at a time. Then quitting the first job and going be home on weekends kind of thing both of them didn't work out I don't have a home life when I'm on the truck I'm on Duty whether I'm off or on because when shit goes wrong you can't just lay in the back and say well I'm off duty because then you're losing money. And the ridiculousness of all of this is this is a job where I've made the most money in my life (legally anyway). Honestly I'm just posting this cuz I'm freaking out slightly.
Edit number one. I work in a team truck which means my truck does not stop moving. I work for 12to14 hours and then I'm required to stay on the truck for the other 10 to 12 hours. A trucker has a 24-hour clock 14 hours which they can remain on duty and drive within that. 11 hours in which they can actually on duty drive. Inside of that 11 hours or required to take a 30 minute break before we cross the 8-hour threshold. And once our day is done we have to have a 10-hour reset to get our hours back for the next day this is on top of a weekly reset 70 hours within an 8-day week. If my truck breaks down or there's something wrong I can't just sit in the back and relax my company does not and will not coddle me. I have to be the man on the ground or my co-driver does that being the fact. Most of the time my co-driver has no clue what they're doing this usually a newbie where somebody who's never been OTR. And I don't get paid by the hour I can pay by the mile if the truck stops moving I don't get paid. So for people bitching about me sleeping in the back and getting paid that's not how that works

The land pooling policy of the Haryana government has been a subject of much debate in recent times. While some believe that it is a much needed step to address the housing crisis in the state, others believe that it will lead to displacement of farmers and also cause environmental damage. In this blog, we take a look at the advantages and disadvantages of SCO plots, which are a type of housing development that has been proposed under the land pooling policy.
The advantages of SCO plots are that they are:

1. A cost effective way to develop housing: SCO plots are cheaper to develop than apartments, as the cost of land is shared between multiple families. This makes them a more affordable option for middle-class families.
   
2. A sustainable way to develop housing: SCO plots are developed on agricultural land that is not suitable for farming. This means that there is no loss of agricultural land and no environmental damage.
   
3. A flexible way to develop housing: SCO plots can be developed according to the needs of the families. This means that families can have a say in the design and layout of their homes.
   
4. A fast way to develop housing: SCO plots can be developed much faster than apartments, as there is no need for construction of external infrastructure such as roads and sewerage.
   

The disadvantages of SCO plots are that they are:

1. A risk to the environment: SCO plots are developed on agricultural land that is not suitable for farming. This means that there is a risk of environmental damage, as the land may not be able to support the weight of the homes.
   
2. A risk to the farmers: SCO plots are developed on agricultural land that is not suitable for farming. This means that there is a risk of displacement of farmers, as they will not be able to cultivate the land.
   
3. A risk to the quality of life: SCO plots are developed on agricultural land that is not suitable for farming. This means that there is a risk of reduced quality of life, as the land will not be able to support the same level of human activity.
   

Why SCO Plots May Be the Right Choice for You?

There are many reasons why you should consider SCO Plots in Gurgaon for your next investment. Here are just a few of the many advantages that SCO Plots have to offer:

1. Proximity to Delhi: Gurgaon is just a stone's throw away from Delhi, making it the perfect location for those who want to invest in property close to the national capital.
   
2. Affordable pricing: SCO Plots in Gurgaon are very affordable, making them a great option for those who are looking to invest in property on a budget.
   
3. Excellent infrastructure: Gurgaon has excellent infrastructure, making it the perfect location for setting up a business or for living.
   
4. Good connectivity: Gurgaon is very well connected to the rest of the country, making it an ideal location for those who want to invest in property in a strategic location.
   
5. A booming economy: Gurgaon is one of the fastest-growing economies in the country, making it a great choice for those who want to invest in property in a growing market.
   
6. A vibrant city: Gurgaon is a vibrant city, with a lot to offer in terms of entertainment, dining, and shopping. This makes it an ideal location for those who want to invest in property in a city that has a lot to offer.
   
7. A hub for businesses: Gurgaon is a major hub for businesses, with many multinational companies setting up their headquarters here. This makes it an ideal location for those who want to invest in property in a city that is a major business hub.
   
8. A favorable climate: Gurgaon has a favorable climate, making it a great choice for those who want to invest in property in a city that has good weather all year round.
   
9. A booming real estate market: Gurgaon's real estate market is booming, making it a great choice for those who want to invest in property in a city that has a lot of potential for growth.
   

Other Real Estate Projects:
Krisumi Waterfall Suites Gurgaon
Hero homes plots Gurgaon
M3M Sector 58 Gurgaon
Property in Gurugram

Packers and Movers Max Logistic is a reputable moving and transportation company located in Bijwasan, Delhi. With a strong commitment to providing reliable and efficient relocation services, they have established themselves as a trusted name in the industry.
At Packers and Movers Max Logistic, their team of highly skilled professionals is dedicated to ensuring a smooth and hassle-free moving experience for their clients. They understand that moving can be a stressful task, so they strive to handle every aspect of the process with utmost care and attention to detail.
The company offers a wide range of services to cater to various relocation needs. Whether you are moving locally within Delhi or planning a long-distance move, Packers and Movers Max Logistic can assist you. They specialize in residential and commercial moves, ensuring that your belongings are safely packed, loaded, transported, and unloaded at your new destination.
Packers and Movers Max Logistic takes pride in their use of advanced equipment and high-quality packing materials to safeguard your possessions during transit. Their trained packers employ efficient packing techniques to minimize the risk of damage during the move.
Furthermore, the company understands the importance of timely delivery. They strive to adhere to schedules and ensure that your belongings reach the destination on time, giving you peace of mind throughout the moving process.
Customer satisfaction is a top priority for Packers and Movers Max Logistic. They are known for their professionalism, reliability, and excellent customer service. Their friendly and courteous staff is always ready to assist you and address any concerns you may have.
If you are planning a move in or around Bijwasan, Delhi, Packers and Movers Max Logistic can be your trusted partner. With their expertise and commitment to customer satisfaction, they will make your relocation a seamless and stress-free experience.
View Poll