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Tag: Ed

  • YES BANK and CNBC-TV18’s multi-city ‘Growth Summit’ concludes in Hyderabad with deep insights on India’s roadmap to becoming $10 Trillion Economy

    YES BANK and CNBC-TV18’s multi-city ‘Growth Summit’ concludes in Hyderabad with deep insights on India’s roadmap to becoming $10 Trillion Economy

    Mumbai: YES BANK and CNBC-TV18’s – The Growth Summit: A vision to a $10 Trillion Economy, in association with Max Life Insurance, was successfully concluded in Hyderabad on Friday. With policymakers, industry leaders, entrepreneurs, and a wide range of experts weighing in on India’s economic progress over the next few years, the last chapter of the Growth Summit hosted policymakers, experts, entrepreneurs, and more. The summit witnessed discussions around the government’s ambitious 25-year plan intended to position India as the world’s third-largest economy with a GDP of $10 trillion.

    In the opening remarks, Mr Prashant Kumar, Managing Director & CEO of YES BANK, said, “We are fortunate to be citizens of this country which is the 5th largest economy and aspires to be the third largest economy by 2030. As we also aspire to be a developed nation by 2047, I think it’s crucial not just to focus on GDP growth but the growth of 140 crores Indians together, where their standard of living goes up. And where everybody enjoys the fruit of the development in India.

    During his address, Mr Kumar announced the launch of ‘Yes Private’ in Hyderabad, which is the Bank’s newest market offering that aims to partner HNI Business owners and C-Suite executives in their endeavor to leverage the opportunities on the road towards a $10 trillion Indian economy.

    The event kicked off with an engaging discussion on ‘Unleashing the Animal Spirit: Building the Right Support Structure for Growth’ with T-Hub CEO Srinivas Rao Mahankali where he said, “Building a world-class entrepreneurial ecosystem is a collective journey, where startups, corporations, government, academia, and media come together to create a supportive atmosphere for everyone.  Inspired by innovators in  Silicon Valley and directed by thought leaders such as Dan Eisenberg, we try to build  an environment where innovation and opportunities booms. With startups at the forefront and corporations achieving new heights, supported by strong policies and diverse funding options, we are shaping the future of entrepreneurship collectively.”

    The day progressed with a thought-provoking conversation on ‘Inside The Laboratory of India’s $10 TRILLION DREAM’ with Mr Satish Reddy, Chairman, Dr Reddy’s Laboratories. The session was followed by an intriguing panel discussion on ‘Innovate, Produce, Thrive: India’s Path to Global Competitiveness’ with industry experts – Mr Krishna Bodanapu, Executive Vice-Chairman & MD, Cyient ; Dr Sai Prasad, ED, Bharat Biotech & CII President, Telangana; Mr Anurag Malempati, Promoter, Leap India Food & Logistics Pvt. Ltd.; Pradeep Chowdhry, MD, Gemini Edibles & Fats India Pvt. Ltd.; and Mr Pawan Jain, Director, Kirby Building Systems and Structures India ( Gujarat) Pvt Ltd.

    The evening continued with a special address by Mr. Prashant Tripathy, MD & CEO– Max Life Insurance MD & CEO Prashant Tripathy said “As India makes its way towards becoming a $10 trillion economy, innovation in enabling financial inclusivity will be a key pillar of progress. Over the past decade, transformative innovations like UPI and JAM Trinity have catalysed our financial inclusion efforts, while the advent and proliferation of fintech has been delivering exponential growth. As we move further, continuous regulatory support and initiatives like technology enabled risk management are essential for sustaining this upward trajectory. Within this context, Hyderabad’s ascent as a thriving hub of next gen innovation epitomizes India’s immense growth potential. With its vibrant ecosystem and skilled workforce, the city serves as a beacon of India’s ability to foster future forward progress. Through strategic policymaking and collaborative endeavours, we are poised to translate our vision into reality, driving not just economic prosperity but also societal advancement.”

    The summit moved ahead with a thought-provoking session conducted by Kumaar Bagrodia, leading Neuroscientist & Founder, NeuroLeap on ‘The Neuroscience of Innovation’. The concluding panel discussion titled ‘Beyond the Norm: Redefining Innovation for Progress’, brought together industry experts, including Mr Mohit Jaju, Director, Godavari Drugs Ltd.; Mr BV Kondanda Pani, MD, Algoleap Technologies Pvt. Ltd.,Mr I V Ramana Raju, Co-founder & CEO, Fabex Steel Structures, and Mr LS Patil, Promoter & MD, Patil Rail Infra Ltd.

    The event transitioned seamlessly into an interesting conversation on ‘Stardom & Strategy’ with Mr Adivi Sesh, Actor & Writer, speaking about his upcoming projects. He added, “I’m currently shooting for two films. G2 serves as the sequel to my 2018 hit, Gurucharya, which rebirthed the spy genre in Telugu cinema. With G2, we are aiming for a national impact. Recently, we’ve welcomed Emraan Hashmi to our cast, and we are excited to expand our reach to audiences across five diverse languages across the country.  I’m also working on another project, Dacoit, which we are shooting in Hindi, featuring the extremely talented Shruti Hassan.”

    The summit concluded with an enticing conversation moderated by Mugdha Kalra, CNBC-TV18 Anchor on ‘Smashing Success: Grit to Global Stardom’ with Ms Saina Nehwal, Badminton Champion – Olympic Medalist. Speaking about her comeback, struggles, and achievements she stated, “It is difficult for athletes, as each one battles with their individual problems. Every individual ventures into this field with the goal of achieving distinction on an international level, but not everyone escapes the injuries. Reflecting on the early days, one doesn’t live on the potential drawbacks; instead, the focus is on enjoyment and striving for success.” 

  • Arnab Goswami duologue with Barun Das: Reveals truth about TV ratings

    Arnab Goswami duologue with Barun Das: Reveals truth about TV ratings

    Mumbai: For the first time since the ED cleared Arnab Goswami and his network of any wrongdoing in the ratings scandal, he speaks candidly about it with Barun Das at news video magazine OTT platform News9 Plus, revealing the plot to frame him.

    In a sensational disclosure, Goswami claimed the entire ratings system was paralysed by the television industry in India to target him. “It was a bitter battle between new entrepreneurship and legacy media.”

    In his statement, he speaks not just about the ratings question but about a whole range of issues facing the Indian news media.

    As Goswami gets into the hot seat of Duologue with Barun Das to answer questions, it is a role reversal – both for Das as well as Goswami.

    TV9 Network managing director & CEO Barun Das has disrupted the news television order in the country. He has now been donning a new role facing the camera in his series Duologue, which featured former UK Prime Minister David Cameron as the last guest.

    Arnab responded to criticism about being pro-establishment in a recent episode of Duologue with Barun Das, citing the “nation wants to know” controversy to his days at NDTV and Times Now, as well as his vision for the Republic.

    Speaking about Goswami’s show, Das said, “I believe leadership is all about disruption. Arnab is phenomenal and makes for an unrivalled case study. You may love him or despise him, but you ignore him at your peril. The best part of having him at Duologue has been his uncanny ability to speak frankly on issues that not only define him but also have a significant bearing on the news media scene in India.”

    After the cameras stopped rolling, Goswami added, “Barun has an easy-going yet razor-sharp conversational style. He got me to open up on subjects I’ve been quiet about, and I’m glad we “duologued” like I haven’t before. I wish his OTT platform and this show all the very best.”

    Talking about the clean chit, Goswami said, “I recorded this Duologue with Barun a few days before the final TRP report came out. He made me speak about our incarceration for the first time since my arrest. People should know the truth about what happened to the Republic, how we fought, and how we have won. Most grateful to Barun for the opportunity.”

    Duologue with Barun Das featuring Arnab will host four episodes: The Disruptors; Friends, foes, and fortitude; Media Inc; and Frankly Speaking, Finally.

    Das’ show is a cerebral conversation with a legend or a legend in the making. As the title suggests, it is a two-way interaction to enable the exchange of ideas in a free-flowing manner. Duologue is not provoked by headline management but to evolve emancipated influencer conversations.

  • Chinese smartphone brands Oppo, Vivo India & Xiaomi under tax sleuths’ lens

    Chinese smartphone brands Oppo, Vivo India & Xiaomi under tax sleuths’ lens

    Mumbai: Chinese smartphone makers have once again come under the scanner of Indian agencies for cases of alleged tax evasion. Notices have been issued to Oppo, Vivo India and Xiaomi, finance minister Nirmala Sitharaman informed Rajya Sabha recently. The three Chinese mobile phone companies, between them, hold a major share of the Indian smartphone market.

    The Finance Minister said that the department of revenue intelligence (DRI) has issued a notice to Oppo for a total customs duty of Rs 4,389 crore. This is on the grounds that misdeclaration of certain goods leads to a short payment in customs duty.

    The duty evasion is about Rs 2,981 crore, Sitharaman said replying to a question in the Upper House.

    “Undervaluation of imported goods for the purpose of payment of customs duty, that we think is an evasion of Rs 1,408 crore,” she said.

    She stated that they came voluntarily to deposit Rs 450 crore, much less than the demand of Rs 4,389 crore.

    Regarding the other companies, she said Xiaomi, which deals with assembling MI mobile phones, has been issued three show-cause notices.

    “The approximate duty liability there is about Rs 653 crore. For the three show cause notices that have been issued, they have deposited only Rs 46 lakh,” the minister said.

    She informed Rajya Sabha that a demand notice has been issued for Rs 2,217 crore for which they have deposited Rs 60 crore as a voluntary deposit.

    “Besides these, the ED is looking at 18 companies that were established by the same group as Vivo, and there they have voluntarily remitted Rs 62 crore as deposits, but the parent company outside of India has total sales of 1.25 lakh crore.

    “Of the Rs 1.25 lakh crore total sales, Vivo has transferred through these 18 companies huge amounts of funds, and it is believed that Vivo India has, in turn, remitted 0.62 lakh crore to its parent company, which is outside India,” Sitharaman said.

    In her written reply, the finance minister said a show cause notice demanding Rs 4,403.88 crore has been served on Oppo Mobiles India based on the investigation conducted by the directorate of revenue intelligence (DRI).

    Five cases of customs duty evasion have been booked against Xiaomi Technology India, she said.

    “During the period 2019 to 2022, in respect of the central board of indirect taxes & customs (CBIC), cases against 43 other such companies have been booked.”

    “‘As regards to the central board of direct taxes (CBDT), investigation directorates have undertaken search and seizure actions in cases of five groups pertaining to the telecom sector, in which tax evasion has been detected,” Sitharaman added.

    Meanwhile, the market share of these three brands, which make up the top five smartphone brands in India, has been steadily growing, despite the scrutiny. Xiaomi remained the market leader in 2022 with a share of 24 per cent, followed by Vivo with 18 per cent share and Oppo with a ten per cent share, according to a report by Cyber Media Research (CMR). The three brands, along with Realme and Korean smartphone major Samsung, account for nearly three quarters of India’s smartphone market.

  • HUL appoints Kedar Lele as ED, customer development

    Mumbai: Hindustan Unilever Limited (HUL) has rejigged its top management on Thursday and appointed Kedar Lele as its executive director for customer development from 1 July.

    Lele, currently chairman and managing director of Unilever Bangladesh takes over from Srinandan Sundaram, who will move into a new role as executive director for foods and refreshment.

    Lele joined HUL in 2004 and was inducted into the company’s management committee. Prior to his Bangladesh stint, he was responsible for leading the e-commerce and modern trade business and oversaw the customer development centre for HUL.

    “Under his leadership, the Bangladesh business made great all-around progress – be it in CD coverage expansion, the transformation of our supply chain, or setting up sustainable models for market development. I would especially like to laud Kedar’s efforts towards developing talent and improving diversity in the Bangladesh business. I am certain that Kedar will take the HUL customer development function to the next level of performance,” HUL chairman & managing director Sanjiv Mehta said.

    Lele moved to Dhaka in 2017 to head the Unilever Bangladesh business. He led the business operations, sales & customer development function and oversaw the go-to-market organisation involving marketing, customer and trade management, media, marketing research, and activation there.

  • TRP scam: ED attaches assets worth Rs 32 crore of 3 TV channels under scanner

    TRP scam: ED attaches assets worth Rs 32 crore of 3 TV channels under scanner

    NEW DELHI: The Enforcement Directorate (ED) has provisionally attached assets worth Rs 32 crore belonging to three TV channels ahead of filing its chargesheet in the TRP manipulation case.

    The properties, attached under the provisions of the Prevention of Money Laundering Act (PMLA), are owned by Fakt Marathi, Box Cinema and Maha Movie and are in the form of land, commercial and residential units in Mumbai, Indore, Delhi and Gurugram, as well as in bank balance, the central agency said in a statement.

    “Fakt Marathi, Box Cinema, and Maha Movie entered into a criminal conspiracy to cheat, and committed the offence of criminal breach of trust, forgery in order to gain wrongfully by manipulating TRPs of these television channels," the ED stated.

    By “fraudulently enhancing” their TRP numbers, these channels succeeded in securing “enhanced advertisement revenue”, the agency claimed.

    During its investigation into the alleged TRP scam, based on an FIR lodged by the Mumbai police, the ED said the aforementioned channels generated total proceeds amounting to Rs 46 crore from the “crime”.

    Further, it was discovered that in return for kickbacks, Hansa Research Group's relationship managers had divulged confidential information to "unscrupulous elements" about households where TRP-measuring BARC bar-o-meters were installed.

    The agency claimed that "in two of these channels, just five compromised households were contributing to approximately 25 per cent of the viewership of Mumbai for the relevant period and for the third channel, five compromised households were contributing to about 12 per cent of viewership of Mumbai."

    The Mumbai police claimed to have unearthed a purported TRP manipulation racket in the city last year in October. At a press conference to brief the media about the alleged scam, it named three channels – Republic TV, Fakt Marathi and Box Cinema – for their involvement in the matter. The controversy sent shockwaves through the broadcast industry. Over the ensuing months, the case took many twists and turns: there have been number of high profile arrests, including former BARC CEO Partho Dasgupta; BARC has withheld weekly data for TV news channels and is conducting an internal probe; a committee under Prasar Bharati CEO Shashi S Vempati made recommendations to the MIB on the TV ratings ecosystem. 

  • TRP scam: ED steps in to probe money laundering angle

    TRP scam: ED steps in to probe money laundering angle

    NEW DELHI: It seems that the TRP manipulation scandal that has caused quite a stir in the Indian news broadcasting industry is far from done and dusted.

    The case has now come under the lens of the enforcement directorate (ED), which has filed a case under PMLA and will be examining the money laundering angle in the alleged TRP rigging scam. All parties mentioned in the FIR registered by the Mumbai police will be investigated by the agency. 

    Earlier, the probe was transferred to the CBI after a case was registered in Lucknow’s Hazratganj police station based on the complaint of an advertising company promoter. As per the FIR, the primary allegations relate to manipulation of TRPs in return for payment.

    Multiple parties including research agencies, rating agencies, news channels, and others have been snagged in the net cast by this case. There have been a series of FIRs, litigations, and lawsuits. Members of the companies being scrutinised under the investigation are being summoned to the crime branch to register statements and verify facts. In one instance, Bombay HC even directed crime branch officials to not harass employees of Hansa Research Agency.

    The impact of the scam has been such that BARC has suspended the news broadcast ratings for a period of 12 weeks. The developments in the case have further divided the industry into factions.

    The alleged TRP manipulation scam was first unearthed by the Mumbai police commissioner Param Bir Singh on 8 October. Since then, charges have been flying thick and fast between one of the accused, Republic Media, and the law keepers. Singh during his press conference had stated three channels including Republic were involved in the rigging. However, the Arnab Goswami-led news broadcaster was vehement in its denial of any involvement, saying that the commissioner was indulging in a vendetta campaign. Goswami has been since then fighting the Mumbai police in the courts.

  • Anil Ambani’s Reliance sues NDTV for Rs 10,000 cr

    Anil Ambani’s Reliance sues NDTV for Rs 10,000 cr

    MUMBAI: NDTV has been sued for Rs 10,000 crore by Anil Ambani's Reliance Group in an Ahmedabad court for its reportage on the Rafale fighter jet deal. The lawsuit is filed against NDTV's weekly show, Truth vs Hype, which aired on 29 September.

    The hearing has been listed for 26 October. NDTV Group CEO Suparna Singh tweeted on 18 October, “We will fight this brazen attempt to harassment and intimidation.”

    NDTV also mentioned that the top executives of Reliance ignored repeated, multiple and written requests to appear on the show or comment on what is being widely discussed not just in India but in France as well – whether Anil Ambani's Reliance was transparently chosen as the partner for Dassault in a deal that saw India buying 36 fighter jets.

    According to NDTV, “As the Rafale deal has become a larger news story in India, the Reliance group has been on a notice-serving spree; to sue a news company for Rs 10,000 crore in a court in Gujarat on false and frivolous charges, ignoring facts that are widely reported everywhere and not just by NDTV, can only be interpreted as an unsophisticated warning to the media to stop doing its job.”

    Also, the Enforcement Directorate (ED) has issued a show cause notice to NDTV in connection with a case of forex violation it is probing against the media company on Wednesday. The notice has been issued for violations of the Foreign Exchange Management Act (FEMA) to the tune of Rs 4,000 crore.

    NDTV rejected any allegations of violating FEMA regulations. NDTV said that it is being targeted for its fair and independent journalism and that its persecution is intended to signal to other media that unless they fall in line, they will face similar consequences.

  • ED charge-sheet may jeopardise expansion plans of Sun TV and FM; group considering legal options

    ED charge-sheet may jeopardise expansion plans of Sun TV and FM; group considering legal options

    NEW DELHI: The security clearances for both the proposals for expansion of Sun TV and the group’s FM channels will get further jeopardised with the filing of a charge-sheet against the Maran brothers Kalanithi and Dayanidhi, Kalanithi Maran’s wife Kavery Maran and three others including two companies.

     

    A spokesperson for the group told Indiantelevision.com from Chennai that the company was examining legal recourse to ensue that the expansion plans are not jeopardised as they are linked to freedom of the press and have nothing to do with the alleged money-laundering cases.

     

    This follows the corruption case lodged by the Central Bureau of Investigation in the Aircel-Maxis deal. The complaint alleged that Rs 742.58 crore was paid for former Telecom Minister Dayanidhi Maran by two Mauritius-based companies through Sun Direct TV Pvt. Ltd and South Asia FM Ltd.

     

    Special Judge O P Saini here has fixed 18 January as the date for consideration and taking cognisance of the complaint, asked the ED to place all relevant documents before it.

     

    The two companies are owned and controlled by Kalanidhi, and the money was utilised by these companies for their business, the complaint alleged.

     

    SAFL, SDTPL and SAFL managing director K Shanmugam has also been named as accused in the complaint.

     

    Dayanidhi allegedly obtained the proceeds of crime (Rs 742.58 crore) by camouflaging it as capital contribution in SDTPL and SAFL and thus committed the offence of money laundering under the Prevention of Money Laundering Act, the complaint said.

     

    SDTPL is owned and controlled by Kalanithi and Kaveri, being the chairman and the director respectively. It received the proceeds of crime, Rs 549.03 crore for Dayanidhi in the guise of foreign investment, which was consumed by it in its business, the complaint said.

     

    SAFL received Rs 193.55 crore for Dayanidhi by projecting it as capital contribution received by the company. This amount was also consumed by SAFL in its business.

     

    The ED had on 1 April last attached assets of Dayanidhi, Kalanidhi and Kaveri Kalanidhi and other accused equivalent to proceeds of crime of (Rs 742.58 crore).

     

    Earlier, the CBI in August 2014 had chargesheeted Maran brothers, Malaysian business tycoon T Ananda Krishnan, Malaysian national Augustus Ralph Marshall and four companies — Sun Direct TV, Maxis Communication Berhad, South Asia Entertainment Holding Ltd and Astro All Asia Network PLC — in the case.

     

    The CBI had earlier alleged in the court that Dayanidhi had “pressured” and “forced” Chennai-based telecom promoter C Sivasankaran to sell his stakes in Aircel and two subsidiary firms to Malaysian firm Maxis Group in 2006.

  • SC stays ED proceedings in Aircel-Maxis case to attach Sun TV assets

    SC stays ED proceedings in Aircel-Maxis case to attach Sun TV assets

    NEW DELHI: For the second time within a month, the Supreme Court has come to the rescue of the beleaguered Sun TV group owned by the Maran brothers.

     

    Earlier on 26 July, the apex Court had permitted the FM channels associated with the group to take part in the e-auctions that commenced on 27 July.

     

    The SC today stayed the attachment proceedings before the Enforcement Directorate (ED) Adjudicating Authority against Sun TV assets of the Maran brothers in the Aircel-Maxis case.

     

    The Court, however, said the provisional attachment order issued by the ED would stay alive even if the 180-day period for confirming the attachment order is over.

     

    ED had ordered provisional attachment of assets of Sun TV worth Rs 742 crore allegedly linked to the Aircel-Maxis deal. The attachment order was under the Prevention of Money Laundering Act.

     

    Sun TV had approached the Supreme Court against a Madras High Court order refusing to hear their plea against the provisional attachment on the grounds that the case was linked to the 2G spectrum scam, which is already pending before the bench headed by the Chief Justice of the apex court.

  • Kainthola takes over as executive director in LS TV

    Kainthola takes over as executive director in LS TV

    NEW DELHI: Indian Information Service officer Bhupendra Kainthola has taken over as the new executive director (programmes) of Lok Sabha Television, filling the vacancy created in January after the termination of services of Sudhir Tandon, without ascribing reason.

    Kainthola has been posted to LS TV on deputation for three years. He is an IIS officer of the 1989 batch.

    His last posting was as the deputy general manager (media) for the National Highways Authority of India (NHAI) for the past two years, but he has earlier worked for several years in Doordarshan News in the Mumbai and Delhi kendras. He also functioned in the Press Information Bureau for one year.

    The post of the ED (P) has been held as an additional charge first by the executive producer Vartika Nanda-Sahai, and then by the executive director (marketing), Sunit Tandon, who is in the channel on deputation from the National Films Development Corporation.

    Sudhir Tandon had retired as deputy director general in August 2005 from the charge of Director of the Delhi Kendra of Doordarshan before joining LS TV. He had received a termination order in late December ending his three-year contract (in just over a year), without assigning any reasons.

    The LS TV was first conceived by the Lok Sabha Speaker Somnath Chatterjee and offered to Doordarshan.

    However, the public broadcaster had demanded financial support for a minimum of 250 employees. Bhaskar Ghose – a former Director General of Doordarshan and also Secretary in the Information and Broadcasting Ministry – was then given the task of running the channel with a strength of less than 80 people.

    He was appointed with the designation of media adivsor to the speaker and chief executive of the channel. LS TV was formally launched as a 24×7 channel from July 24, 2006 when the Monsoon session commenced. 

    Commencing with the Budget session, the channel is now in charge of transmitting the signals to the Doordarshan tower from where these are uplinked. Earlier, this work was being handled by DD staff.

    Furthermore, two more studios are coming up to augment the facilities, but sources in the channel told indiatelevision.com that there was no corresponding increase in staff strength which was now just over 100.

    The channel still does not have any funds of its own and has to depend on the Audio Visual Unit of the Lok Sabha Secretariat for its expenses and infrastructure.