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Tag: Deutsche Bank

  • Transbnk taps Amar Bhartia to drive global product vision

    Transbnk taps Amar Bhartia to drive global product vision

    MUMBAI: Transbnk is cashing in on global experience to turbocharge its product game. The next-gen transaction banking platform has appointed Amar Bhartia as global product head, marking a strategic move as it gears up for international expansion.

    A Deutsche Bank veteran, Amar brings over a decade of expertise in cash management, treasury solutions and fintech partnerships. At Deutsche Bank, he played a key role in rolling out Payment Acceptance across the APAC region, working with regulators, payment aggregators and fintech innovators.

    “I’m excited to join Transbnk at such an exciting phase in its journey,” said the newly minted global product head Amar Bhartia. “The intersection of banking, fintech and digital infrastructure offers a rare chance to reimagine how institutions transact globally. I look forward to shaping world-class products and delivering real value for clients.”

    Co-founder and CEO Vaibhav Tambe, welcomed the appointment, calling it a timely boost for Transbnk’s global ambitions. “Amar’s proven ability to scale banking-grade platforms will be vital as we expand our reach. With our recent Series B raise and Amar’s leadership, we’re powering ahead towards building a unified transaction-banking operating system for banks and enterprises,” he said.

    The appointment follows Transbnk’s successful 25 million dollars Series B funding round led by Bessemer Venture Partners. The fresh capital will help strengthen its tech and product teams while driving expansion into Southeast Asia and the Middle East.

    With Amar at the helm of product strategy, Transbnk seems ready to turn its global growth plans into a blockbuster sequel, one transaction at a time.

     

  • Planet Marathi founder faces FIR after Bombay HC order on forgery

    Planet Marathi founder faces FIR after Bombay HC order on forgery

    MUMBAI: The drama has moved off-screen and into the courtroom Planet Marathi’s founder Akshay Bardapurkar now faces a real-life script of forgery, fraud, and financial conspiracy after the Bombay High Court ordered the registration of an FIR against him and three others.

    A Bench of Justice Ravindra V. Ghuge and Justice Gautam Ashwin Ankhad, ruling on Criminal Writ Petition No. 4170 of 2025 filed by former partner Soumya Vilekar, directed Mulund Police to book Bardapurkar, casting director Manali Dixit, notary Dodha Doulat Ahire, and Dhaval Shah.

    At the heart of the case is a forged partnership deed dated 3 October 2023, allegedly bearing Vilekar’s signature, photograph, and a fake notarisation. She claims she never signed the document, which was used to approach Axis Bank, Deutsche Bank, and others to secure loans and dispose of intellectual property, all without her knowledge.

    Vilekar maintains that her only valid exit was through a Deed of Admission-cum-Retirement dated 15 January 2024, and accuses Bardapurkar of fabricating the earlier deed to siphon funds. She says she was left battling multiple litigations originally aimed at the company, exposing her to reputational and financial harm.

    “This is not merely forged paperwork, it’s a premeditated act of fraud and conspiracy,” Vilekar said, adding that Bardapurkar had diverted company funds for personal expenses and unauthorised purposes.

    The fallout for Planet Marathi has been severe. Its offices have remained shut for months, the app has ceased operations, and employees have resigned en masse. The company is also facing NCLT liquidation proceedings, while Bardapurkar himself is entangled in multiple legal battles:

    . Rs 87 lakh cheque bounce case filed by Aayush Shah

    . Rs 20 lakh dishonour case filed by Mausam Shah

    . Personal insolvency proceedings by Verse

    . Several Section 138 NI Act cases across Mumbai, Pune, and beyond

    The High Court’s intervention comes after Vilekar alleged that Mulund Police failed to act despite her submitting documentary evidence. The ruling marks another twist in a saga that has seen Planet Marathi, once touted as a Marathi OTT disruptor, now teetering between financial collapse and criminal scrutiny.

    As the courtroom script unfolds, Bardapurkar, once celebrated as a cultural entrepreneur now finds himself at the centre of a story where the plot revolves around liabilities, litigation, and law enforcement.

  • Glance Digital exec Manish Gupta joins L&T Finance as digital transformation czar

    Glance Digital exec Manish Gupta joins L&T Finance as digital transformation czar

    MUMBAI: L&T Finance has roped in Manish Kumar Gupta as chief executive – urban unsecured assets, payments & digital partnerships as it gears up for a new phase of digital transformation. A fintech veteran, Manish has over 23 years of experience across top financial and technology giants.

    Manish’s impressive CV reads like a masterclass in leadership – from launching India’s first mobile-only digital bank, digibank by DBS, to driving innovation at TransUnion CIBIL as chief product officer, where he developed the latest CIBIL score. He has led digital and business transformations at heavyweight names including ICICI Bank, Deutsche Bank, HSBC, DBS Bank, and TransUnion CIBIL.

    His latest stint was at InMobi Group’s Glance Digital, where he served as senior vice president and general manager, scaling the business globally with AI-powered content and commerce solutions on smart devices.

    Said Manish on Linkedin:  “Last week I completed a wonderful and enriching chapter of my life with InMobi and Glance ! The emotions of leaving Glance were overwhelming! I will miss the culture, my team, my friends that have supported me for the last five plus  years! As I embark on a new journey, I will cherish every moment I spent at Glance!  Once an InMobian always an InMobian!

    With a robust track record in both traditional and digital-first financial ecosystems, Manish is known for turning ambitious ideas into business wins. A certified financial planner and CertICM holder, he is an alumnus of IIT Delhi and holds an MBA from ISB, Hyderabad.

    Having worked in India, Hong Kong, and Singapore, Manish’s global experience makes him a strategic addition to L&T Finance’s leadership team.

  • An Equal Voice In The World Of Business: India Welcomes The everywoman Forum

    An Equal Voice In The World Of Business: India Welcomes The everywoman Forum

    August 2019: everywoman is a global entity dedicated to closing the gender gap within organisations with the aim to build a level playing field, inclusive and supportive of their employees, to generate positive impact on business performance. Through various events, a global online platform and an active network of ambassadors across the globe, everywoman has felicitated and provided personal development for professionals across various industry sectors.

    Research has proven gender diversity of the workforce is core to business growth and profitability. When professionals have access to influential role models in business coupled with quality learning and development, they are more involved with their organisations, advancing into senior positions and are more likely to perceive a long-term future with existing employers.

    Currently, with over 30,000 members in 113 of the world’s 195 countries, everywoman is set to host the inaugural everywoman Forum – India, on the 26th of September 2019 in Mumbai, India. The forum, an extension of the ‘best in class’ events held in the UK, is designed with the vision to connect, empower and equip aspiring future leaders from all sectors with the inspiration and tools to achieve their career potential. everywoman Forums are supported by the most forward-thinking brands including Accenture, EY, Barclays, Experian, and ARM, and aim to create dialogue, provide strategies and skills to drive gender parity. 

    This learning and networking forum, for both male and female talent, will focus on an in-depth understanding of how gender diversity has a positive impact on performance, and how achieving a better gender-balanced workforce is vital for all businesses. It will feature insightful keynotes, stimulating conversations, success stories and inspiring journeys of Indian and international professionals coupled with panel discussions to help individuals elevate their career development. The event will not only give every attendee the chance to be a part of a global platform, but will also incorporate invaluable practical tips and insights to overcome workplace challenges and foster sustainable parity for women in business globally. The Forum is eligible for seven hours of CPD (Continued Professional Development) points.

    Agenda highlights include a keynote presentation on ‘The Role of Women in the Future World of Work’ discussing the lack of networking and other challenges women face while building their career paths and solutions to overcome these hurdles.

    A Power Panel on ‘Advancing Women in the Workplace’ including Jayashree Mitra, Standard Chartered Bank; Gayathri Ramamurthy, Capgemini and Ashok Lodha, Barclays India will explore ways in which millennial women can progress to achieve sustainable gender parity in their workspace. This will be followed by a Master’s Panel on '10 Key Tips to Improve Leadership and Navigate Workplace', featuringPrashanthi Reddy, Yes Bank, Sandhya Vasudevan, Deutsche Bank, Priyanka Jain, Experian and Vidya Laxman, Tesco.

    The co-founders of everywoman will present their career journey and learnings. This address will be followed by an open session of Roundtables on ‘Preparing for Leadership, Designing Work Life integration and Boosting Career Opportunities’ facilitated by Shivangi Ambani, FCO, Tina Vinod, ThoughtWorks, India, Poonam Ajgaonkar, Experian and Ruma Rao, TATA Group. Two separate power hour sessions will allow attendees to gain access to a variety of workshops led by master trainers. The closing keynote ‘How Courage + Dreams = Success: Why My Story is Her Story’ will be presented by Shalini Singh, TATA Power.

    “I am delighted to see everywoman championing the role of women in business – developing careers and building a workplace that is diverse & inclusive. everywoman offers female role models from a cross section of cultures and locations to create a sustainable legacy of gender parity.”

    Crispin Simon, HM Trade Commissioner, India & South Asia, and Deputy High Commissioner, Mumbai

    The forum will be instrumental to professionals looking for global interaction opportunities and insights into various challenges faced in the workplace.

    Early booking delegate passes are available from 17,600INR (+GST), increasing to 22,000INR (+GST) from 1 September. There are also sponsorship opportunities available. For further information on the Forum agenda, speaker line up and to book, visiteverywoman.com/ForumIndia  

    Attached are the images and the press release for your reference.

  • Analysts express mixed views on Netflix Q2 growth

    Analysts express mixed views on Netflix Q2 growth

    MUMBAI: Given the ferocity of Netflix’s growth, a Forbes report had predicted its impressive Q1 2018 result to continue in Q2 as well. In first quarter 2018, Netflix exceeded user addition forecasts along with a 43 per cent year over year growth. Forbes predicted growth in revenue and subscribers in Q2 too. In addition to that, the report says it could report revenues of around $3.9 billion. The result for Q2 is supposed to release on 16 July.

    The previous quarter’s growth was fuelled by continued strong acquisition trends across the globe. Netflix attributed it to “the growing breadth of our content and the worldwide adoption of internet entertainment.” The international subscriber base of the over-the-top (OTT) platform increased at a rapid pace (42 per cent y-o-y).

    Repeating the same trend in Q2, the report anticipates that the total subscriber base for both international and US streaming services could grow to over 130 million during the quarter. Netflix itself expects 6.2 million global net addition in Q2.On the contrary, Deutsche Bank told the OTT platform could miss Wall Street’s second-quarter subscriber expectations next week. “We don’t see 2Q earnings as a positive catalyst for the stock; in fact, we see some near term downside risk,” said analyst Bryan Kraft as quoted by CNBC.  Following the prediction, company’s stock fell more than four percent Friday.

    Despite that, Swinburne, a strong believer in Netflix’s growth, thinks Netflix is increasing its “competitive moat” against competitors. “On top of the ability to use data to improve its programming and marketing decisions, Netflix now brings to market a content offering that boasts $16 billion in net content value,” Swinburne wrote as quoted by Variety.

    “As a result, other than live sports and news, we see the potential for Netflix to not just take share from other networks or channels, but to represent ‘TV’ for many households,” it added.

    Many of the analysts believe India could be strength for the company in Q2 growth. Netflix is scaling up its business in India and planning more original content after already releasing Sacred Games. However, in the Indian market, Netflix has to face stiff competition from local platforms like Hotstar, Voot, ALTBalaji, along with tough challenge from its international rival Amazon.

    With its $8 billion expense plan for content, it is definitely outperforming Hulu, Amazon in the domestic market.

  • Deutsche Bank and PVR Nest once again bring in the festive cheer to 5000 kids from NGOs across cinemas in five cities

    Deutsche Bank and PVR Nest once again bring in the festive cheer to 5000 kids from NGOs across cinemas in five cities

    MUMBAI: After the joyful success last year, ‘5000 Popcorns’ returned to kick start the festive cheer in New Delhi, Mumbai, Kolkata, Pune and Bengaluru, which  witnessed packed cinema auditoriums with 5000 children sitting transfixed to watch the heart-warming ‘Stanley ka Dabba’, an Amole Gupte film.

    Amole Gupte himself joined the children at PVR Goregaon, Mumbai and interacted with them amongst cheers and applause.

    In its second year ‘5000 Popcorns’, which is a joint initiative of Deutsche Bank in India and PVR Nest, a registered foundation of India’s leading multiplex chain PVR Limited, brought together 5000 children from not for profit and community schools in one of the largest simultaneous movie screenings across cities. The children enjoyed the film that takes you through the wonder years of childhood while skilfully weaving in messages for providing education to all children and opposing child labour.

    Speaking on the occasion, Shrinath Bolloju, Chief Operating Officer, for Deutsche Bank in India said “After the stirring and warm response we got from the kids last year, we at Deutsche Bank are pleased to once again bring in the Christmas and New Year’s cheer to the children through the magic of cinema, even while sharing a beautiful and inspiring social message. We are delighted with the enthusiastic response we have received from the children and NGOs.”

    Ms. Deepa Menon, Vice President- Corporate Social Responsibility at PVR Limited said “We are extremely happy to partner with Deutsche Bank through ‘5000 Popcorns’ and being able to bring entertainment to such a large number of children. Such platforms enable children to explore their talents on a broader canvas. It is not just about entertainment, PVR Nest, through its creative education programs has aimed at nourishing children’s creativity and building their capacities on film making and publishing of over 1,00,000 children  from 100 city schools each year.”

  • US radio station owner Clear Channel sold for $26.7 billion

    US radio station owner Clear Channel sold for $26.7 billion

    MUMBAI: Clear Channel Communications which is America’s biggest radio station owner, has agreed to be acquired for about $18.7 billion by an investment group.

    Clear Channel owns or operates 1,150 radio stations. It also owns a majority of Clear Channel Outdoor, an operator of billboard and bus-stop advertisements.

    The group that has bought Clear Channel is led by Thomas H. Lee Partners and Bain Capital Partners. Under the terms of the agreement, Clear Channel shareholders will receive $37.60 in cash for each share of Clear Channel common stock they hold, representing a premium of approximately 25 per cent over Clear Channel’s average closing share price of $29.99 during the 30 trading days ended October 24, 2006, the day before the Company first acknowledged that it was evaluating strategic alternatives.

    Morgan Stanley, Citigroup, and Deutsche Bank as well as Credit Suisse, RBS and Wachovia are acting as financial advisors and providing firm financing commitments to the private equity group. Morgan Stanley, Citigroup, Deutsche Bank, Credit Suisse and RBS are also providing equity commitments.

    Clear Channel CEO Mark P. Mays said, “We are very pleased to announce this transaction which provides substantial value to our shareholders. We look forward to working with Thomas H. Lee Partners and Bain Capital Partners to continue our business plan to provide exceptional programming to our audiences and value to our advertising partners.”

    Clear Channel also plans to sell 448 of its radio stations in markets outside the top 100 – Madison is in the top 100 – as well as its 42-station television group, which also are located in smaller markets. Collectively the properties made up less than 10 per cent of the company’s revenues last year.

    Thomas H. Lee Partners co-president Scott Sperling said, “Clear Channel is one of the nation’s truly great companies that has the finest collection of outdoor and radio assets in the industry. We are extremely pleased to be partnered with the management team led by Mark and Randall Mays and to have the opportunity to work with them and to grow this company that was created by its chairman and founder, L. Lowry Mays. Clear Channel has tremendous long term growth opportunities in both the radio and outdoor businesses and we look forward to partnering with Mark and Randall to create value in the years ahead.”

    Bain Capital MD John Connaughton said, “We are very impressed with Clear Channel’s strong management team and the company’s leadership positions in a variety of markets and media formats. Clear Channel is an exceptional media franchise that is well-positioned to grow thanks to the solid foundation the Mays family has created. We look forward to partnering with Clear Channel as it continues to innovate in meeting the changing needs of the audiences and advertisers it serves.”

  • Myspace founder Greenspan alleges defrauding of shareholders in sale to News Corp

    Myspace founder Greenspan alleges defrauding of shareholders in sale to News Corp

    MUMBAI: Brad Greenspan, who is one of the founders of the social networking site Myspace.com, has issued an online report at Freemyspace.com that details how Intermix Media’s sale of Myspace intentionally defrauded shareholders out of tens of millions of dollars.

    Saying that it is “one of the largest merger and acquisition scandals in US history,” Greenspan is calling for further investigation by the Securities and Exchange Commission, the United States Department of Justice and the United States Senate Committee on Finance. Greenspan served as chairman and CEO when Myspace was created by Intermix.

    News Corp had bought MySpace for $580 million last year. Analysts feel that the site could be worth several billion dollars in the next few years. Greenpan, who is Intermix’s largest individual shareholder says, “The answer to how News Corp. was fortunate enough to buy one of the largest and most valuable Internet companies for pennies on the dollar is now clear.

    “I expect as the authorities get their arms around what happened, that this transaction will be unwound and Myspace will be independent. An independent Myspace is significantly better for its users and shareholders.

    “For the first time the public can read what took place behind the scenes and how shareholders were blatantly misled into voting for a quick and unfair sale to News Corp. Deliberate steps were taken to withhold and manipulate information; money was improperly gained and laws were broken. It is my hope that regulatory bodies will begin their investigations quickly before evidence is destroyed.”

     
    Greenspan utilised a variety of sources for The Myspace Report, including the two highest non-director senior executives at Intermix, chief financial officer Lisa Terrill and chief operating officer Sherm Atkinson, financial analysts, and Kroll a golden risk consulting company.

    The report shows that Intermix CEO Richard Rosenblatt knew before the transaction that Myspace was well on its way to becoming worth at least $20 billion.

    “In addition to Rosenblatt’s stunning and incriminating emails, the two highest non-director senior executives, chief financial officer Lisa Terrill and chief operating officer Sherm Atkinson, have come forward through their legal counsel indicating significant breaches of fiduciary duty by Rosenblatt and the directors as part of the News Corp. transaction,” continued Greenspan.

    The report concludes that certain Intermix board members and senior executives, led by Rosenblatt, blatantly deceived shareholders into voting for a quick sale to News Corp in exchange for broad protection from a string of prior corporate misdeeds and Rosenblatt’s understanding that he would share in $20 billion in value post-transaction via his new role at News Corp.

    Rosenblatt’s scheme was helped in large part because Intermix hid Myspace revenue from shareholders in a blatent violation of FAS 131 (segment reporting disclosure). Greenspan says shareholders were not aware that Myspace’s revenue was growing at a 1,200 per cent annualised rate and increasing. Shareholder’s were forced to trust the recommendation of Intermix’s Board and were under the impression Myspace was unable to turn its massive traffic into revenues.

    “A public company that refuses to tell shareholders the revenue of its most valuable asset flies in the face of what it means to be a public company” said Greenspan

    Six months after the deal closed, News Corp. disclosed to analysts that Myspace was tracking at $250 million in revenue in 2006 and announced an advertising deal for MySpace with Google for $900 million dollars. Peter Chernin of News Corp. was quoted by the Financial Times on 7 August, 2006: “In one fell swoop we have paid off two-thirds of our Internet investments. We have gotten a 70 per cent premium on our Myspace investment and are now playing with house money.”

    Says Greenspan, “If Intermix had abided by FAS 131, shareholders would have been able to track the revenue and growth of Myspace and known the property was on pace to hit the eye popping numbers we are now seeing. Myspace didn’t magically start generating revenue after the News Corp. transaction, its revenue and growth were tracking to reach $250 million before the acquisition.”

    In May 2005 Deutsche Bank outlined for Intermix executives that taking Myspace public could provide value in the $1.028 – $1.7 billion range. Greenspan alleges that Rosenblatt knew that Myspace was on track to become a $20 billion property and purposely withheld this information from shareholders to accelerate the transaction as well as 60 per cent of his stock options at closing for a personal gain of $20 million. 

    “News Corp’s valuation has increased by $12 billion since the transaction occurred just one year ago, and there are several independent analysts today that agree that Myspace is worth tens of billions of dollars. It is time everyone knew the truth about the ‘hijacking’ of Myspace and the individuals responsible for this eye popping theft,” concludes Greenspan.