The year 2025 was packed with big moments in India’s business circles. Top corporate leaders, startup founders and tech entrepreneurs made headlines, some for major achievements, others for controversies that shook the industry. Here are some of the business newsmakers of 2025.
Noel Tata
Noel Tata, the half-brother of former chairman Ratan Tata, dominated corporate headlines in 2025 as the Tata Trusts underwent its most dramatic governance clash in decades. The flashpoint came on October 28, when Noel and his allies blocked the reappointment of Mehli Mistry to the Sir Dorabji Tata and Sir Ratan Tata Trusts. Mistry’s removal exposed a deep internal rift and was widely seen as Noel decisively asserting control after succeeding Ratan Tata. Since the Trusts control 66 per cent of Tata Sons, the move was viewed as the defining step in the post–Ratan Tata transition, cementing Noel’s position at the strategic centre of India’s most influential conglomerate.
Sridhar Vembu
Sridhar Vembu was one of the year’s most consequential business voices. The Zoho founder emerged as a leading proponent of digital sovereignty after the government mandated the use of ‘Zoho Mail’ and ‘Zoho Office Suite’ across major ministries, elevating the company’s national relevance. Vembu also sparked public debate after urging young Indians to “marry and have children in their 20s”, triggering widespread conversations on personal choice and social responsibility.
Byju Raveendran
Byju Raveendran became the defining cautionary tale of 2025 as edtech firm BYJU’S faced an unprecedented collapse. A US bankruptcy court held him personally liable for more than $1.07 billion in the BYJU’s Alpha dispute, ruling that funds were fraudulently concealed from the American subsidiary. Meanwhile, parent firm Think & Learn Pvt. Ltd. remained under the corporate insolvency resolution process, marking the most dramatic downfall of an Indian unicorn. His troubles deepened when the Supreme Court rejected his settlement plea with the BCCI. Through the year, Raveendran was entrenched in legal battles, keeping him firmly in the spotlight.
Jaggi brothers
Anmol and Puneet Singh Jaggi emerged as two of the year’s most controversial business figures as Gensol Engineering unravelled into a major governance scandal. Earlier this year, Sebi barred the brothers from the securities market, alleging they siphoned off loan funds for personal use, including purchase of luxury real estate. Simultaneously, Gensol entered insolvency, wiping out significant shareholder wealth and intensifying investor distress. The crisis also spilled over to BluSmart Mobility, the EV ride-hailing firm they co-founded, raising concerns over ethical standards and corporate accountability.
Peyush Bansal
Peyush Bansal remained in the spotlight as Lenskart’s IPO became one of the year’s most debated listings. Priced at ₹402 a share and valued at nearly ₹70,000 crore, the issue drew criticism for aggressive valuation and limited upside. Analysts questioned the quality of Lenskart’s first-ever net profit in FY25, arguing that it relied heavily on non-core income. The IPO’s large Offer For Sale component further raised concerns that early investors were cashing out rather than funding future expansion.
Aman Gupta
Aman Gupta made headlines late in 2025 after stepping down as boAt’s chief marketing officer, weeks before the company filed its updated ₹1,500-crore IPO prospectus. While the company termed the exit part of its “professionalisation” drive, the timing triggered debate over whether it was a routine transition or a red flag for investors. As the brand’s most recognisable face, amplified by his Shark Tank India presence, Gupta’s departure raised questions around branding stability and corporate governance.
Kaivalya Vohra and Aadit Palicha
Zepto founders Kaivalya Vohra and Aadit Palicha stayed in the news after becoming India’s youngest self-made billionaires on the M3M Hurun India Rich List. They drew further attention later in the year when the company admitted to using “dark patterns” in its pricing during profitability experiments. Following public backlash, Palicha took responsibility and rolled back the practice, positioning Zepto as a transparent player in the quick-commerce space.
Bhavish Aggarwal
Bhavish Aggarwal remained a headline maker of 2025, driven by Ola Electric’s performance and the rapid expansion of his AI venture, Krutrim. His most controversial moment came during a public spat with comedian Kunal Kamra over Ola Electric’s service-centre delays. Aggarwal’s combative response, accusing Kamra of posting a “paid tweet”, triggered a flood of customer complaints and damaged the company’s public image. The episode, followed by a dip in Ola Electric’s share price, highlighted growing concerns around leadership temperament and consumer accountability.
