CoinDCX on Tuesday welcomed the court’s order granting bail to its co-founders. In a press statement issued today, the company claimed that the court observed no prima facie case had been made out against the co-founders.

Describing the case, CoinDCX said it involves a fraudulent website, ‘coindcx.pro,’ created by unknown actors to impersonate CoinDCX and deceive users.

“CoinDCX’s only official platform is coindcx.com. The fraudulent site has no direct or indirect connection to CoinDCX or its subsidiaries,” the press statement said.“The Court took into account key facts, including that CoinDCX Co-Founders were not present at the location of the alleged offence, the press release said. The investigation officer submitted to the court that some other person/s represented themselves as CoinDCX Co-Founders and cheated the complainant. The complainant also confirmed that the individuals involved were not Sumit Gupta or Neeraj Khandelwal but unidentified actors impersonating them. The investigating officer raised no objection to bail,” the statement said.This is consistent with CoinDCX’s position that the company and its leadership had no involvement in the incident and were themselves victims of a fraud perpetrated through impersonation.

The promoters of CoinDCX were arrested on Saturday by the Thane Police on allegations of criminal breach of trust, officials said.
The promoters of CoinDCX were arrested on Saturday by the Thane Police on allegations of criminal breach of trust, officials said.According to the police, co-founders Sumit Gupta and Neeraj Khandelwal were apprehended from Bengaluru and produced before a holiday court in Thane. The court had remanded the duo to police custody until Monday.

The Thane police registered an FIR against six individuals, including Gupta and Khandelwal, for allegedly cheating a complainant of Rs 71.6 lakh under the pretext of cryptocurrency investment and franchise opportunities linked to CoinDCX. The complainant, an insurance advisor, alleged that he was lured between August 2025 and February 2026 with promises of high returns and regulatory approvals. The accused reportedly collected funds through cash and bank transfers but failed to deliver the promised franchise or returns and later became untraceable. Police have invoked provisions of the Bharatiya Nyaya Sanhita (BNS) and initiated an investigation.

Read more: CoinDCX promoters arrested by Thane police on criminal breach of trust charges

The company has also invited industry attention on this incident, highlighting how impersonation and phishing scams are an increasing threat across digital financial platforms.

“Malicious actors are more frequently exploiting the trustworthiness of well-known brands by copying identities, platforms, and leadership figures to deceive users. CoinDCX strongly condemns such illegal activities. Responsibility lies with those who plan and carry out these scams, not with institutions whose identities are unlawfully exploited,” the statement said.

CoinDCX said the company continues to operate normally without any disruption. Trading, deposits, withdrawals, and all user services remain fully operational, the statement said.

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

Exceptional women from across the UK technology sector have been honoured at the annual Salesforce everywoman in Technology Awards, recognising innovation, leadership and impact at every stage of the career ladder.

Held at the Westminster Park Plaza Hotel in London, the awards mark the 16th year of the programme, which aims to spotlight female talent in a sector where representation remains a persistent challenge. Women currently account for just 24.8% of the STEM workforce, down from 29.4% in 2020, underlining the need for continued efforts to attract and retain female talent.

Organisers said this year’s winners reflect the breadth of the industry, from apprentices and early-career professionals to senior executives and entrepreneurs driving global change.

Nicole Goodwin and Sophie Catto, joint managing directors of AllBright everywoman, said the awards highlight not only individual achievement but the wider social impact of women in technology.

“Remarkable women across the technology sector are developing innovations that have the power to transform how we live and work,” they said. “By amplifying their stories, we create visible role models who can inspire the next generation to pursue careers in STEM.”

The prestigious Woman of the Year award was presented to Aji Bawo, Head of Commercial Product at Tesco. Bawo was recognised for her leadership in driving large-scale digital transformation in retail, alongside her work supporting girls’ education and empowering future female leaders globally.

Her work has focused on improving efficiency, scalability and customer experience through technology, while also championing diversity and mentoring emerging talent within and beyond her organisation.

Among the category winners, Nausheen Basha of Imperial College London took the AI Champion award for her work combining AI, simulation and engineering design to accelerate scientific discovery, including applications in renewable energy and vaccine manufacturing.

Rebecca Phelps of BAE Systems was recognised in cybersecurity for her work on secure systems and collaboration with national security bodies, while Nicola Emsley of Barclays was named CTO/CIO of the Year for her leadership in digital transformation and generative AI adoption.

In the entrepreneurship category, Fiona Roach Canning, co-founder and CEO of fintech platform Pollinate, was honoured for scaling a global business that supports banks in serving SMEs through data-driven insights.

Other winners included professionals working in digital transformation, software engineering, climate technology and education, alongside individuals recognised for their contributions to mentoring, inclusion and community engagement.

The awards also place a strong emphasis on early talent. Apprentice winner Kelly Howes was recognised for her transition into software engineering and advocacy for neurodiversity, while Nina Kumar received the One to Watch award for inspiring young women to pursue STEM subjects.

Zahra Bahrololoumi, CEO of Salesforce UK & Ireland, said the need for greater diversity in technology is becoming increasingly urgent as AI takes on a more central role in decision-making.

“As AI increasingly powers high-stakes decisions, it is essential that more women enter and advance in the technology industry to prevent perpetuating societal biases,” she said. “We cannot be what we cannot see.”

The awards come at a time when the technology sector is grappling with both rapid innovation and ongoing diversity challenges. While progress has been made in some areas, declining participation rates highlight the risk of widening gaps if action is not sustained.

By recognising role models across the industry, the Salesforce everywoman awards aim to shift perceptions, broaden access and ensure that the future of technology reflects a wider range of voices and experiences.

As the sector continues to evolve, particularly with the rise of AI, initiatives that promote inclusion and visibility are likely to play a critical role in shaping not only who works in technology, but how it is built and applied.

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Adani Green Energy witnessed a couple of block deals on Tuesday in which French multinational bank BNP Paribas was the buyer while Morgan Stanley was the seller.

BNP bought 6.9 lakh shares in the company through its affiliate BNP Paribas Financial Markets in a deal valued at Rs 56 crore. The shares were purchased at a price of Rs 808.3 apiece, a 1% discount from Monday’s closing price of Rs 816.45.

Morgan Stanley sold as many shares via its investment arm Morgan Stanley Asia (Singapore) Pte.

Adani Green Energy shares ended at Rs 839 on the NSE today, up by Rs 22.55 or 2.76%.

Adani Green Energy shares have underperformed the broader markets, declining 12% over a one-year period. In contrast Nifty and the BSE Sensex have declined by 2% and 4%, respectively.

The stock has slipped below its 50-day and 200-day simple moving averages (SMA) of Rs 908 and Rs 987, respectively, according to Trendlyne data.
Adani Green reported a net loss of Rs 41 crore in the December quarter, compared with a profit of Rs 492 crore in the year-ago period and Rs 583 crore in the September quarter. The loss/profit is attributable to the company’s shareholders. Total income during the reporting period rose 8% year-over-year (YoY) to Rs 2,837 crore.Revenue from power supply increased 21% YoY to Rs 2,420 crore in the October–December 2025 period, while EBITDA for the segment rose 23% YoY to Rs 2,269 crore.

Strong revenue and EBITDA growth in the power supply business was driven by greenfield capacity addition of 5.6 GW, deployment of advanced renewable energy technologies, strong plant performance and the commissioning of new capacities at resource-rich sites in Khavda, Gujarat, and Rajasthan.

“In 2026, Adani Green has continued its growth trajectory, adding 5.6 GW of renewable energy capacity, representing nearly 14% of all new solar and wind capacity installed across India,” said Ashish Khanna, CEO of Adani Green.

The company’s operational capacity reached 17.2 GW, keeping it on track to achieve its 50 GW target. The Khavda project, which is the world’s largest renewable energy installation, is progressing at an accelerated pace, the company said.

Also read: Brand Concepts bulk deal: Ashish Kacholia exits microcap as stock price erodes 36% in a year

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

In a recent Acas survey, employers and employees were asked which three changes in the Employment Rights Act 2025 would have the biggest impact in their workplace.

Surprisingly, the new rights on Statutory Sick Pay (SSP) topped the list for both groups, named by 43% of employers and 36% of employees. The reduction in the unfair dismissal qualifying period from two years to six months was the second most significant change (31% of employers and 30% of employees). Employers ranked the new paternity leave day-one rights as the third-largest reform, whereas employees said it was easier access to flexible working arrangements.

The SSP reforms take effect from 6 April 2026, aiming to improve financial security, particularly for part-time employees and those in low-paid jobs. While more employees will qualify for SSP, employers will face increased costs and compliance requirements, particularly for small and medium-sized enterprises.

Before looking at the reforms and what employers can do to prepare for them, let’s consider the current arrangements.

What is the current SSP framework?

An employee must be an “eligible employee” and earn at least the Lower Earnings Limit (LEL), which is currently £125 per week. Even if employees are eligible, SSP is payable only from the fourth consecutive day of sickness, as the first three days are unpaid waiting days.

It is estimated that around 1.3 million employees receive no SSP at all, and many lose pay for only short periods when unwell. Some face the choice of working while ill or losing income. This can spread illness in the workplace and reduce productivity.

What is changing from 6 April 2026?

Approximately 25% of employees only receive SSP (rather than contractual sick pay), and the SSP changes below will have a significant impact.

• Removal of the Lower Earnings Limit, and employees will no longer need to meet the LEL to qualify for SSP.
• A new earnings‑linked calculation and SSP will be paid at 80% of normal weekly earnings (NWE) unless the SSP flat rate is lower.
• SSP will be payable from day one of sickness absence, as the Employment Rights Act 2025 abolishes the three unpaid waiting days.
• SSP will increase from £118.75 to £123.25 a week on 6 April 2026.

It is important to mention atypical workers, such as zero-hours and agency workers, as well as seasonal and irregular-hours staff. Establishing NWE is not always straightforward because of their fluctuating pay and variable working patterns. Employers can determine NWE, for example, by averaging pay over the previous 8-12 weeks or by following the relevant contractual arrangements to ensure SSP reflects actual earning patterns.

What do the SSP changes mean for employers?

The scope of SSP entitlements is significantly widened. As well as administrative adjustments to update policies and payroll processes, the reforms carry a cost implication for organisations of all sizes.

The Government estimates that removing waiting days and abolishing the LEL, combined with introducing the 80% earnings‑linked calculation, will increase employer SSP costs by around £450 million a year. Although a significant sum, it equates to roughly £15 more per employee according to the Government’s impact assessment. Crucially, earlier access to SSP may boost productivity by allowing employees to stay home when unwell without feeling compelled to attend work.

Employer concerns about increased sickness absence could be mitigated through strengthened sickness management. This includes conducting return‑to‑work interviews promptly, even after short periods of illness, which can help to identify underlying issues early and reduce avoidable absences. It can also include structured return-to-work planning, phased returns, and temporary adjustments.

How can employers prepare for the changes?

• Update payroll systems for earnings‑linked SSP and day‑one entitlement.
• Review and update sickness absence policies, contracts and employee handbooks and communicate these changes to employees.

• Budget for increased SSP.
• Identify roles or departments most affected by the wider eligibility rules.

• Train managers and HR on the new regime.
• Strengthen sickness absence management processes.
• Establish the number of atypical workers and how their normal weekly earnings are calculated.

Conclusion

The April 2026 SSP reforms represent a major shift in the UK’s approach to sick pay, expanding access and enhancing financial protection for employees. While these changes introduce additional costs and compliance requirements for employers, early preparation will support a compliant and well‑managed transition.

By reviewing systems and policies now, organisations can ensure they are ready for the new SSP regime and are equipped to support staff and manage sickness absence effectively.

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The estate of late tech entrepreneur Mike Lynch is facing the prospect of being effectively wiped out after the High Court ordered it to pay $1.24 billion in damages and interest to Hewlett Packard Enterprise (HPE).

The ruling marks the latest development in one of the UK’s most high-profile corporate fraud cases, stemming from HPE’s $11.7 billion acquisition of Autonomy in 2011.

The court had already awarded HPE approximately £700 million in damages last year. However, the addition of interest, calculated at around $236 million, has pushed the total liability to $1.24 billion.

Mr Justice Hildyard confirmed the additional sum and rejected an application by Lynch’s estate for permission to appeal, although a further appeal could still be sought through the Court of Appeal.

The case dates back more than a decade, with HPE first alleging fraud in 2012. The company argued that Autonomy’s financial position had been misrepresented ahead of the acquisition, a claim upheld by the High Court in 2022.

The judge found that Lynch and his former chief financial officer Sushovan Hussain had misled HPE, although he also concluded that the US firm would likely have proceeded with the deal regardless due to Autonomy’s perceived strategic value.

Hussain, who was convicted in the US and served a prison sentence, reached a separate £77 million settlement with HPE last year.

The scale of the damages raises serious questions about the viability of Lynch’s estate, which is estimated to be worth around £500 million, significantly less than the amount awarded.

However, the ultimate impact may depend on the structure of family assets. Many holdings, including property and investments, are reportedly in the name of his widow, Angela Bacares. These include Loudham Hall in Suffolk and shares in cybersecurity firm Darktrace, which were sold for more than $300 million in 2024.

Legal experts suggest that HPE may seek to pursue those assets if it can demonstrate they were effectively controlled by Lynch, potentially extending the scope of recovery.

The ruling comes in the wake of Lynch’s death in August 2024, when he drowned alongside his daughter and others after a yacht accident off the coast of Sicily. The incident occurred shortly after his acquittal in a US criminal trial related to the same case.

Despite the scale of the damages award, the judge was critical of aspects of HPE’s approach, describing the company’s claimed losses as “exaggerated” and the litigation process as unnecessarily prolonged.

HPE welcomed the decision, stating it brings the company “another step closer to resolution” of the dispute.

For the Lynch estate, however, the focus now shifts to whether an appeal can be mounted, and how much of the remaining assets can be protected.

The case stands as a landmark in UK corporate litigation, not only for the scale of the damages but also for its long-running nature and the complex intersection of civil and criminal proceedings across multiple jurisdictions.

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The developer said demand had been stunted amid uncertainty in the lead up to November’s Budget

Housebuilder Bellway says it has grown half-year operating profits and the number of houses it has completed.

In an update to shareholders, it said total housing completions had grown 2.7% to 4,702 homes, up from 4,577 in the same period last year. Meanwhile underlying operating profit, before exceptional items and £10.7m legacy building safety issues costs, grew 1.5% to £159m.

Demand for Bellway’s homes was said to have been impacted by pre-Budget uncertainty in the run up to the Chancellor’s speech in late November. Chief executive Jason Honeyman said the firm had not experienced its typical pick-up in reservations during the autumn, but there had been increases in January.

The Newcastle-based firm, which is celebrating its 80th anniversary this year, said trading over the last six weeks had seen its private reservation rate per outlet per week, including bulk sales, fall slightly to 0.70 from 0.76. However, volume output in 2026 is expected to be ahead of previous expectations – at between 9,300 to 9,500 homes.

Average selling price is now expected to be about £325,000 – an increase owing, bosses said, to a change in the type of houses and expected conversions of completions from the firm’s bulk sales. Speaking to BusinessLive, Bellway’s chief commercial officer Simon Scougall said the firm was on track to deliver growth housing volume and profits this year.

Mr Scougall said the firm had not seen any marked deterioration in the market since the outbreak of war in Iran, with footfall to sites good and cancellation rates “steady”. He said: “It’s so far so good, but obviously it’s not lost upon us what’s happening out there and the troubles in the Middle East may have an impact in the next few months.

“It’s difficult to call that because you’ve got customers who’ve been coming out who will have made up their minds to buy a house from us about two months ago and have the benefit of a mortgage offer – and a pretty good mortgage offer further to that.

“So, we’re looking at recent history to a degree and we’re still in a comfortable position for year end, and we’re pretty well sold for year end. So we’ll see what the next few weeks bring – we’ll know more in April – and next weekend is probably when we’re going to see any impact, if at all.”

Jason Honeyman, chief executive, said: “Bellway has delivered a robust first half performance in a challenging market. While our industry continues to face several headwinds, we have seen an improvement in customer demand and reservations since the start of the new calendar year.

“At this stage, the situation in the Middle East has not had a material impact on trading and, supported by our forward order book, we are on track to deliver FY26 underlying operating profit within the range of £320m-£330m.

“The ongoing conflict in the Middle East heightens the risk of both inflationary cost pressures and an impact to customer demand, and we have already seen volatility return to the mortgage market. Notwithstanding this, I am confident that our self-help and drive for capital efficiency will help mitigate the impact on our strategy to increase cash generation and shareholder returns.

“Bellway has a strong balance sheet and land bank, and under stable market conditions, the Group is well-positioned to continue delivering volume growth and much needed high-quality new homes in the years ahead.”

The four-star property has been under the same family ownership for the last 40 years

An historic Cornwall hotel whose visitors have included Queen Victoria and the Beatles has been sold off for an undisclosed sum. The Atlantic, in Newquay, was established in 1892 and commands a dramatic clifftop position with panoramic views of the ocean and Cornish coastline.

The four‑star venue, which has been owned by the Cobley family for the last 40 years, was acquired by the Cornwall Hotel Collection. The group already owns three hotels in the Duchy: The Greenbank, The Alverton, and The Falmouth, the most recent of which was acquired in 2024.

Ben Young, managing director of Cornwall Hotel Collection, said: “We are delighted to bring The Atlantic Hotel, Newquay, into our family of Cornish hotels. This landmark property perfectly complements the Cornwall Hotel Collection, strengthening our commitment to exceptional Cornish hospitality, heritage, and guest experience across our portfolio spanning Cornwall.

“We’d like to thank the previous owners for their stewardship over the past 40 years and we look forward to preserving and maintaining their legacy.”

The Atlantic is set in some eight acres of landscaped grounds and private headland. The hotel comprises 57 ensuite bedrooms and suites, two apartments, a large three-bedroom owner’s apartment, and dining, events and entertainment facilities, accommodating 1,200 guests. The property also has leisure and spa facilities including two pools.

The Atlantic Hotel’s former owner, Lorraine Stones, said: “After many successful years of trading, our family are so pleased to be able to pass on our iconic hotel to the Cornwall Hotel Collection in the knowledge its legacy will be safe in their hands. We wish them all the very best for the future.”

Stephen Champion, director at property firm Christie & Co, which managed the sale process, added: “We are delighted to confirm the sale of The Atlantic Hotel, one of Cornwall’s most iconic hotels.

“The hotel generated significant buyer interest when it launched to the market, attracting competitive bidding from multiple parties. We are proud to have acted in this landmark transaction and look forward to seeing the next chapter of The Atlantic Hotel under the Cornwall Hotel Collection’s ownership.”