Kerala Peppery was an external tenant based within the hotel

The owner of a Cornwall hotel has slammed its restaurant operator amid the sudden closure of the eatery and claims staff working there have been “left unpaid”.

Newquay Beach Hotel is owned by Oleg Ignatiev, who bought the property in 2019 and let it out to global hotel operator OYO in 2024. OYO, in turn, sublet the restaurant to an external tenant – Indian chain Kerala Peppery, which is owned by 32-year-old Jyothi Prakash, according to Companies House.

It is understood that Kerala Peppery employed its staff, including the chef, separately from other workers in the hotel.

All the issues came to light after the mum of a Kerala Peppery restaurant worker criticised the hotel on Facebook, claiming staff – including her daughter – had not been paid since late October.

Emma Butterly wrote: “Staff have not been paid since the end of October. All still awaiting this!!! After continuously asking the manager for an update, told to just resign!!!! The staff have since refused to work due to being left out of pocket with no updates from management. Refusing to resign!!”

Speaking to Business Live, Mr Ignatiev said OYO had paid all its own staff – but accused Kerala Peppery’s owner of leaving the restaurant workers out of pocket.

“When OYO took over, they wanted to sublet and they chose an Indian restaurant,” he told Business Live. “They let it to Kerala Peppery. It’s so seasonal and a hard restaurant to run, and you need to win the locals, and it wasn’t focused on locals – it was about feeding people in the hotel.

“They have failed. The restaurant in my hotel shut before January.” He added: “OYO has paid their staff and me consistently. But Kerala Peppery has not paid rent to OYO, hasn’t paid its chef or the restaurant workers.”

Business Live has contacted Ms Prakash about the allegations but has had no response. According to Google, Kerala Peppery’s other restaurant, in Crewe, is permanently closed.

A spokesperson for OYO said: “Certain hotel functions, including kitchen and food operations, were operated by an independent third-party restaurant partner. The restaurant was leased to an experienced and growing operator with an existing track record of running food businesses, and there was no indication at the outset that operations or staff would be put at risk.”

OYO said it was “taken by surprise” by the operator’s “sudden disappearance and failure to meet basic obligations”, including payment of staff wages and rent.

“The operator subsequently became unresponsive,” the spokesperson added. “OYO continues to make efforts to locate and engage with the operator to seek clarity and resolution.

“We are especially concerned about the impact on the restaurant staff. Their situation is deeply regrettable. As arrangements are made to bring in a new operator, OYO would strongly encourage the incoming partner to consider retaining these employees.

“In the meantime, OYO will continue trying to trace the previous operator for the fulfilment of outstanding obligations. We regret the disruption caused by these events and remain focused on stabilising operations and maintaining the standards expected at the hotel.”

Mr Ignatiev says the restaurant within his hotel is a “great opportunity”, and a potential future tenant could currently “get a good deal”.

“It is huge and has outside terrace space,” he said. “It’s a great spot and because you’re coming into season for the next eight months OYO are willing to make a deal.”

Seattle Seahawks running back Kenneth Walker III was named Most Valuable Player of Super Bowl LX on Sunday, Feb. 8, 2026, after rushing for 135 yards on 27 carries and adding 26 receiving yards in the Seahawks’ dominant 29-13 victory over the New England Patriots at Levi’s Stadium.

Walker, in his fourth NFL season, became the first running back to earn Super Bowl MVP honors since Terrell Davis of the Denver Broncos in Super Bowl XXXII following the 1997 season — a span of 28 years. His performance anchored Seattle’s offense in a game largely controlled by defense, helping the Seahawks secure their second Lombardi Trophy in franchise history.

The Seahawks’ “Dark Side” defense set the tone, sacking Patriots quarterback Drake Maye six times, forcing three turnovers and holding New England to 13 points despite a late rally. Kicker Jason Myers contributed a Super Bowl-record five field goals, but voters rewarded Walker’s consistent production on the ground and in the passing game.

Walker totaled 161 scrimmage yards, outgaining the entire Patriots offense in the first half. His runs included bursts of 30, 29 and 10 yards that sustained drives and kept pressure off quarterback Sam Darnold. The former Michigan State star, drafted 9th overall in 2022, overcame early career injury concerns to emerge as Seattle’s offensive centerpiece.

In postgame comments, Walker expressed gratitude to his teammates. “This don’t happen without them,” he said on the field, holding the MVP trophy. “Our defense carried us all year, and tonight they did it again. I’m just blessed to be part of this group.”
The award came amid debate over whether a defensive player or Myers deserved

recognition. Cornerback Devon Witherspoon and edge rusher Leonard Williams disrupted Maye throughout, while Myers’ kicks provided the margin in a low-scoring affair. Some analysts, including those from The New York Post, argued coach Mike Macdonald’s scheme deserved MVP consideration for outmaneuvering New England’s defense.

Still, Walker’s impact proved decisive. He became the first Seahawks player to win Super Bowl MVP since Malcolm Butler’s interception in Super Bowl XLIX — though that game ended in heartbreak for Seattle. This time, the Seahawks flipped the script against their old rivals, avenging the 2015 loss where a goal-line interception sealed defeat.

The game unfolded as a defensive struggle. Seattle led 9-0 at halftime on Myers’ field goals. The third quarter saw more of the same, with Myers extending the lead to 15-0. New England’s first points arrived in the fourth on a Maye touchdown pass to Mack Hollins, but Seattle responded with a fumble return touchdown by DeMarcus Lawrence and Darnold’s scoring strike to tight end A.J. Barner.

Maye finished under duress, completing passes at a low clip amid constant pressure. The Patriots managed under 200 total yards, underscoring Seattle’s defensive dominance.
Walker’s MVP selection highlighted the value of a strong ground game in championship games. His 27 carries controlled tempo, limited possessions for New England and wore down their front seven. The performance capped a postseason where Walker rushed for over 400 yards across three games.

For the Seahawks, the win validated their rebuild around young talent and a ferocious defense under Macdonald, who previously coordinated Baltimore’s unit. Seattle entered as NFC champions after a strong regular season, overcoming injuries to key players.
The Patriots, led by second-year quarterback Maye (the regular-season MVP runner-up), fell short in their bid for a seventh title. The loss ended a promising campaign but exposed vulnerabilities against elite defenses.

Halftime provided contrast with Bad Bunny’s Apple Music performance, featuring Lady Gaga and Ricky Martin in surprise cameos. The cultural celebration offered a lively interlude to the on-field grind.

Postgame ceremonies included the traditional trophy presentation, with owner Jody Allen accepting on behalf of the franchise. Walker posed with the MVP award amid confetti, joined by teammates in celebration.

The victory sparks discussions about Seattle’s potential dynasty. With young stars like Walker, Darnold and Witherspoon, the Seahawks position themselves as contenders for years ahead.

For Walker, the MVP caps a remarkable arc from injury doubts to championship glory. His father attended his first NFL game in person at the Super Bowl, adding personal significance.

As the NFL offseason begins, focus shifts to free agency, the draft and 2026 Hall of Fame class announcements. Super Bowl LX will endure as a testament to defense, grit and one running back’s breakout moment on the biggest stage.

Veteran investor Vijay Kedia shared his philosophy on how to navigate the stock market amid the daily barrage of news, headlines, and market updates. He explained that the stock market comprises two types of participants: traders and investors. “It is very simple. As you know, in the stock market, there are two kinds of animals you can call it—one is like a trader and one is like an investor. So, all this noise you are talking about, this is only for the traders. For investors, all these news actually does not matter. For them, the only thing that matters is earnings, and earnings do not come on a daily basis. Every day you face all kinds of news, so if you keep reacting to every piece of news, ultimately you will end up holding nothing in this market. And it is applicable at all times, at any given time.”

Kedia likened investing to running a marathon: “For me, it is like a scoreboard. I am a marathoner, running 42 kilometres. It does not matter where I am at the 1st kilometre or the 5th kilometre. As long as I am running, continuing my journey, I am okay. That is why the biggest thing is to cut off all this noise.”

He emphasized that patience is a critical quality for investors. “That is why it is difficult to make money also. You have to win over yourself. If you are not patient enough, at any given time you will be out of this market. These are the qualities of a good investor: knowledge, courage, and patience. Patience is very important to ultimately win in this market. If you do not have patience, you are out of the race. So, enjoy.”

When it comes to spotting long-term investment opportunities, Kedia shared his “SMILE” framework. “S stands for small in size, MI stands for medium in experience, L stands for large in aspiration, and E stands for extra-large market potential. I like to invest in a company that is small in its sector, has management with a clean track record and 15–20 years of experience, and management that is ambitious. The market potential should be extra-large so that the company remains small relative to the sector’s potential. These factors together help me identify companies.”

Kedia also emphasized investing in sunrise sectors and waiting for companies to reach inflection points. “Earlier, I bought a few companies that were losing money but had cash in their books. The sector completely changed. As per my quote, always remain invested in a sunrise sector at any cost and stay out of a sunset industry at any cost. I put stories on my radar and wait for the right time to invest. Sometimes, I wait five years, sometimes ten. When the company turns around and the sector is growing, I invest. That is my business.”

Ultimately, patience remains the core of Kedia’s approach. In a market dominated by instant news and volatility, his advice is simple yet timeless: ignore the noise, focus on fundamentals, and let patience do the heavy lifting.

Shares of IDBI Bank slipped as much as 4% to an intraday low of Rs 103 amid developments around the planned strategic sale of the state-owned lender. The disinvestment process has attracted bids from Indian-Canadian investor Prema Watsa’s Fairfax Financial and Emirates NBD.

The government of India and Life Insurance Corporation of India (LIC), which hold stakes of 45.48% and 49.24% respectively, are together looking to divest a 60.7% stake in the bank as part of the broader privatisation programme.

Meanwhile, Kotak Mahindra Bank clarified that it has not submitted a financial bid for IDBI Bank, dismissing recent media reports. The proposed sale was first announced in 2022, and the government is targeting to announce the successful bidder by March.

The bank has a current market capitalisation of around Rs 1.12 lakh crore. According to sources cited by Reuters, Fairfax — which already holds a majority stake in CSB Bank — may consider merging IDBI Bank with CSB Bank if its bid is successful.

The government has previously said the sale will be concluded in the current financial year ending March 31, 2026. The successful bidder will be allowed to rename the bank, Reuters reported last week.

IDBI Bank traces its origins to 1964, when it was established as the Industrial Development Bank of India through an Act of Parliament to support long-term industrial financing. In 2005, its commercial banking arm was fully merged into the institution, transforming it into a universal bank with both development finance and lending operations. Over time, however, this dual structure became a challenge, as the bank retained a heavy corporate lending focus even as peers diversified into retail segments, leaving it more exposed to concentrated risks and with limited balance from granular retail growth.
By the mid-2010s, mounting bad loans and weak capital buffers had significantly strained the bank’s financial position. In 2017, the Reserve Bank of India placed IDBI under the Prompt Corrective Action (PCA) framework after it breached key thresholds related to capital adequacy, asset quality, return on assets and leverage. The restrictions under PCA curtailed lending expansion and underscored the severity of the bank’s operational and balance-sheet stress.The situation reached a turning point in 2019 when the government directed Life Insurance Corporation of India (LIC) to acquire a controlling 51% stake and infuse capital to stabilise the lender. LIC’s takeover strengthened the balance sheet and reflected a clear policy decision to support the institution. Following the transaction, the RBI reclassified IDBI as a private sector bank for regulatory purposes, despite the continued majority ownership by government-linked entities.

IDBI Bank shares have risen 31.23% in the last 1 year.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)