iWorld
Marans discharged, SC ‘no’ to stay, hearing on Wed
MUMBAI: The apex court, as of now, refused to grant a stay on the CBI court order discharging the accused in the 2G spectrum scam. The case will be heard again in the Supreme Court next Wednesday.
The Enforcement Directorate (ED) had moved the court against the discharge of former union minister Dayanidhi Maran, his brother Kalanithi Maran and others in the Aircel-Maxis case. The ED also urged the court not to release the properties of the accused attached in the case.
The designated court earlier discharged the former telecom minister, and Kalanithi, and others in the Maxis-Aircel deal case filed by enforcement directorate (ED) and the CBI, PTI reported. Special judge OP Saini, who is especially dealing with the 2G spectrum scam cases and related investigation, passed this order.
All the accused had denied the charges levelled against them by the law-enforcement agencies.
The order may not have any bearing on T Ananda Krishnan and Ralph Marshall as the court already separated the trial against them.
The CBI had registered a case Krishnan and Marshall, Astro All-Asia Networks, UK, Sun Direct TV, Maxis Communications, Malaysia, South Asia Entertainment Holdings, Malaysia and late JS Sarma (then additional secretary – telecom). They were charge sheeted for alleged offences to be punishable under section 120-B of IPC and under concerned provisions of the Prevention of Corruption Act.
ED had chargesheeted the Maran brothers, Kalanithi’s wife Kavery, South Asia FM managing director K Shanmugam and Sun Direct TV under provisions of the Prevention of Money Laundering Act (PMLA). The court discharged South Asia Entertainment Holdings and Sun Direct TV apart from the Maran brothers.
Also Read:
Aircel-Maxis case: 2G court seeks to speed trial against Marans
Gaming
MTG gaming chief Benninghoff joins NODWIN board as esports firm primes for IPO
The Gurugram-based esports firm is pursuing a public listing, has returned to profitability and is growing revenues by 42 per cent
GURUGRAM: NODWIN Gaming is moving fast. The Gurugram-based gaming and esports company has launched a pre-IPO fundraising round, appointed UBS as lead adviser for both the round and a subsequent public listing, and landed a heavyweight board director, all in one go.
The new board member is Arnd Benninghoff, executive vice president of gaming at Stockholm-listed Modern Times Group (MTG), who has overseen the group’s strategic investments and portfolio growth since 2014. He is no stranger to building things: Benninghoff has founded and built fifteen companies, served as chief digital officer at ProSiebenSat.1 Media AG, managing director of SevenVentures, and chief executive of Holtzbrinck eLAB. He began his career as a journalist at Deutsche Presse Agentur and various TV networks, holds a Diplom-Kaufmann in business and administration from the University of Münster, and previously sat on the board of Edgeware AB.
The numbers back the ambition
NODWIN is not pitching a story without substance. The company has returned to EBITDA profitability and posted a 42 per cent year-on-year revenue surge, reaching $58.5m in the first nine months of FY2026. The pre-IPO round will combine a primary issuance to fund global expansion through organic growth and acquisitions, alongside a secondary sale to give existing shareholders some liquidity.
Akshat Rathee, co-founder and managing director of NODWIN Gaming, said Benninghoff understands “the entire lifecycle of the gaming and media ecosystem, from the boots-on-the-ground reality of building startups to the strategic complexity of managing multi-billion dollar global portfolios.”
Benninghoff, for his part, said the company “sits at the intersection of sports, entertainment, and technology, making it one of the most exciting players in the global gaming landscape today.”
A portfolio built for the global south
Founded in 2014 by Rathee and Gautam Virk, NODWIN has quietly assembled one of the more compelling esports portfolios outside the Western hemisphere. Its properties include DreamHack India and Comic Con India, and it recently acquired StarLadder, the Ukraine-based tournament organiser behind premier events in CS:GO and Dota 2. The company also serves as a long-term strategic marketing partner for the Evolution Championship Series (EVO), the world’s most prominent fighting game tournament, helping push it into new geographies.
Its geographic focus spans South Asia, Central Asia, Southeast Asia, the Middle East and Africa. Backers include Nazara Technologies, KRAFTON, Sony Group Corporation, JetSynthesys, and the founders’ investment vehicle Good Game Investments.
What comes next
With UBS running the books, a board freshly reinforced with European media and gaming expertise, and revenue heading in the right direction, NODWIN is laying the groundwork deliberately. The esports industry has burned investors before with big promises and thin margins. NODWIN’s return to profitability, combined with a real portfolio of owned intellectual properties across gaming, music and youth culture, gives it a more credible runway than most. The IPO clock is now ticking.
