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India's 1983 World Cup-winning hero <keyword id="204836" type="General" weightage="50" keywordseo="roger-binny" source="Orion">Roger Binny</keyword> is likely to replace Sourav <keyword id="6505" type="General" weightage="80" keywordseo="ganguly" source="Orion">Ganguly</keyword> as the <keyword id="6354756" type="General" weightage="100" keywordseo="bcci" source="Orion">BCCI</keyword> President when the Board will hold its AGM on October 18, sources in the cricket body said on Tuesday. After hectic parleys and back-channel discussions in the past one week, it was decided that the 67-year-old from Bengaluru would be the 36th Board president, one of the sources familiar with the development, said. Jay <keyword id="1858" type="General" weightage="80" keywordseo="shah" source="Orion">Shah</keyword>, son of Union Home Minister Amit Shah, will continue as BCCI Secretary for his second consecutive term. Shah is also expected to replace Ganguly as India's representative at the all-powerful ICC Board. "Jay has been at the forefront of dealing with ICC matters on behalf of BCCI and with the 2023 World Cup around the corner in just one year's time, it is important that India has robust leadership at the Board of Directors meeting in the coming days," a BCCI source said. Binny will officially take charge of BCCI on October 18 at the AGM in Mumbai. There won't be any election to any post as all candidates will be chosen unopposed. All the people in the fray, including Shah and Shukla, filed their nomination papers on Tuesday. Binny, though, is a surprise choice to head the BCCI. However, hints were dropped that his name will crop up for some position when Karnataka State Cricket Association (KSCA) named him as its representative at the BCCI AGM instead of secretary Santosh Menon. "Roger is one of the finest human beings and a thorough gentleman, who has graced the field for India. Plus he is also a World Cup hero and has a squeaky-clean image. He had resigned from the selection committee as his son Stuart back then was in contention to be in the Indian team," said another BCCI source. "He is the right choice for the job," the source added. The only Congressman in the BCCI cabinet is <keyword id="13855" type="General" weightage="50" keywordseo="rajeev-shukla" source="Orion">Rajeev Shukla</keyword>, who will continue as vice president. Sports minister Anurag Thakur's younger brother Arun Singh Dhumal, who is currently the treasurer, will now become IPL chairman. He will replace Brijesh Patel. Influential Maharashtra BJP leader Ashish Shelar will be the new treasurer which means that he won't become Mumbai Cricket Association (MCA) president. He was supposed to take up the role with support from the Sharad Pawar faction. Assam Chief Minister Himanta Biswa Sarma's close aide Devajit Saikia will replace Jayesh George as the new joint secretary. Whether BCCI will contest for the ICC chairmanship hasn't been decided as yet. The medium pacer was one of the architects of India's historic World Cup triumph in 1983. In eight games, he took 18 wickets, the highest in that edition of the prestigious tournament. Ganguly, who reached Mumbai on Monday evening, had a lot of meetings with the stakeholders in New Delhi, last week. The former India captain was keen to continue as BCCI President but he was told that there is no precedence of giving a second term to the Board president. "Sourav was offered IPL chairmanship but he politely declined the offer. His logic was that he cannot accept becoming head of a sub-committee in BCCI after heading the same institution. He had expressed interest in continuing in the position," the BCCI source said. In the case of Dhumal, the decision makers waited for Ganguly to take a call on IPL chairmanship and once he refused, they promoted the Himachal man, who, along with secretary Shah, is known to be one of the most efficient men in the last BCCI cabinet. With Ganguly moving out of the picture, the East representation was always going to be Assam CM Biswa Sarma's call as he played a key role even last time. The names of members in the BCCI Apex Council and IPL Governing Council will be known when the final list will be published in a few days. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/cji-lalit-recommends-justice-chandrachuds-name-as-his-successor/articleshow/94784360.cms">CJI Lalit recommends Justice Chandrachud's name as his successor</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/opening-new-innings-shikhar-dhawan-will-be-seen-in-double-xl/articleshow/94781583.cms">Opening new innings: Shikhar Dhawan will be seen in 'Double XL'</a>

Roger Binny likely to replace Ganguly as BCCI president, Shah to remain secretary

New Delhi [India], June 4 (ANI): With counting slated for today for the <keyword id="19923279" type="General" weightage="20" keywordseo="Lok-Sabha-elections" source="keywords">Lok Sabha elections</keyword>, which have seen the largest voter participation, the electoral fate of several leaders across the political spectrum will be decided. Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="Narendra-Modi" source="keywords">Narendra Modi</keyword>, Home Minister <keyword id="19899491" type="General" weightage="20" keywordseo="Amit-Shah" source="keywords">Amit Shah</keyword> and Defence Minister Rajnath Singh are among the senior BJP leaders in the fray. Key opposition leaders, including former Congress chief <keyword id="19895780" type="General" weightage="20" keywordseo="Rahul-Gandhi" source="keywords">Rahul Gandhi</keyword>, NCP's <keyword id="20083020" type="General" weightage="20" keywordseo="Supriya-Sule" source="keywords">Supriya Sule</keyword> and Samajwadi Party chief Akhilesh Yadav, are also contesting the poll. <div type="javascript" title="Custom" contenttype="Infographic"><cdata><![CDATA[]]></cdata></div> Here is a look at some key contests involving prominent leaders: 1. Narendra Modi: Prime Minister Modi, is seeking a third term from Varanasi, the constituency that paved his way to the Lok Sabha after his stint as Chief Minister. He is pitted against Congress leader and INDIA bloc candidate Ajay Rai. PM Modi won the seat by huge margins in 2014 and 2019. 2. Amit Shah: The Union Home Minister entered the Lok Sabha in 2019 from Gandhinagar and is seeking his second straight term from the seat, which has been held by BJP veterans in the past. Shah, who earlier served as BJP President, is against Congress candidate Sonal Patel. 3. Rahul Gandhi: Congress leader Rahul Gandhi is contesting the Lok Sabha elections from two seats -- Wayanad and Raebareli. Gandhi, who lost the family bastion seat of Amethi in 2019 and entered the Lok Sabha from Wayanad, is aiming to maintain the party's lone bastion left in the state. He is up against BJP's Dinesh Pratap Singh and BJP's K. Surendran, as well as CPI-M's Annie Raja in Wayanad. 4. Supriya Sule and <keyword id="20734555" type="General" weightage="20" keywordseo="sunetra-pawar" source="keywords">Sunetra Pawar</keyword>: The Baramati constituency is another 'hot seat' that will decide the future of the 'Pawar' legacy. NCP supremo Sharad Pawar's daughter Supriya Sule is against his cousin Ajit Pawar's wife, Sunetra Pawar, from the seat. The exit polls have predicted a tight contest. 5. <keyword id="42749" type="General" weightage="20" keywordseo="Shashi-Tharoor" source="Orion">Shashi Tharoor</keyword>: Congress leader Shashi Tharoor, who is a three-time MP from Thiruvananthapuram, is facing a three-way contest against BJP's Rajeev Chandrasekhar and CPI-M's Panniyan Ravindran. The exit polls have predicted a tight contest. 6. K. Annamalai: BJP Tamil Nadu chief and rising face in the south, K Annamalai, is aiming to make the party's inroads in the state. Contesting from Coimbatore, the former cop is up against DMK leader Ganapathy P Rajkumar and AIADMK's Singai Ramachandran. 7. Rajnath Singh: Defence Minister Rajnath Singh is seeking a third term from Lucknow. The former Uttar Pradesh CM served as the Home Minister in BJP's first term and Defence Minister in the second term. Singh is facing SP candidate Ravidas Mehrotra and BSP candidate Sarwar Malik. 8. Abhishek Banerjee: As the BJP is aiming to make further inroads in West Bengal, and TMC is looking to maintain its fortress, TMC general secretary and Chief Minister Mamata Banerjee's nephew Abhishek Banerjee is contesting from Diamond Harbour seeking a second term from the seat. Banerjee is pitted against CPI(M) candidate Pratikur Rahaman and BJP's Abhijit Das. 9. Akhilesh Yadav: Former Uttar Pradesh CM and Samajwadi Party chief Akhilesh Yadav made a surprise entry in the Lok Sabha polls, announcing his candidature from Kannauj. Yadav, who is an MLA from Karhal assembly constituency, is facing incumbent MP and BJP leader Subrat Pathak. 10. Asaduddin Owaisi: The Hyderabad constituency is bracing for a big showdown with four-time MP and All India Majlis-e-Ittehadul Muslimeen chief Asaduddin Owaisi facing a challenge against BJP candidate and actor-turned-politician Madhavi Latha. The Lok Sabha elections for 543 seats of the lower house were held across seven phases. The counting of votes will take place on Tuesday, June 4. The Bharatiya Janata Party is eyeing a third straight term in power, while the Opposition under the umbrella of the INDIA bloc is seeking to wrest power from the ruling party. Meanwhile, all the exit polls have predicted the BJP returning to power with a resounding majority, with further inroads in Odisha, West Bengal, and southern states.

From Modi and Shah to Gandhi and Tharoor, here's a look at some key Lok Sabha seats ahead of election results

<ul><li>The Indian <keyword id="1245953" type="ORGANIZATION" weightage="20" keywordseo="OTT">OTT</keyword> industry which was roughly of the size of $1.7 billion (both Video and Audio) in FY20 has the potential to grow to become a $15 billion industry over the next 9 to 10 years, according to independent transaction advisory firm RBSA Advisors.</li><li>The pandemic has given a big boost to the OTT industry.</li><li>The massive investments made by OTT services like <keyword id="128682" type="COMPANY" weightage="20" keywordseo="Netflix">Netflix</keyword>, Amazon, Disney+ Hotstar and others in original as well as acquired content will help subscription video-on-demand make up a lion share of the total OTT revenues going forward.</li></ul>India's Over the Top (OTT) entertainment industry has the potential to grow to be a $15 billion industry over the next 9 to 10 years, according to independent transaction advisory firm RBSA Advisors. The size of the OTT market in FY20 stood in the range of $ 1.7 billion (both Video and Audio) and it is burgeoning into a multi-billion-dollar industry, cannibalizing into the established bastion of traditional television, radio and cinema auditorium forms of media and entertainment. With access to better networks, digital connectivity and smartphones, OTT platforms in India have increasingly attracted subscribers on a concurrent basis. Apart from top favourites like Disney+ Hotstar, <keyword id="2976376" type="PERSON" weightage="20" keywordseo="Amazon-Prime-Video">Amazon Prime Video</keyword> and Netflix, the space is seeing many local and regional OTT players, such as <keyword id="3163762" type="PERSON" weightage="20" keywordseo="SonyLIV">SonyLIV</keyword>, <keyword id="3113913" type="PERSON" weightage="20" keywordseo="VOOT">Voot</keyword>, <keyword id="6245082" type="UNKNOWN" weightage="20" keywordseo="ZEE5">Zee5</keyword>, <keyword id="2480506" type="PERSON" weightage="20" keywordseo="Eros-Now">Eros Now</keyword>, ALTBalaji, Hoichoi and Adda Times, to name just a few. <keyword id="1257401" type="PERSON" weightage="20" keywordseo="Rajeev-shah">Rajeev Shah</keyword>, MD &amp; CEO RBSA Advisors, "Covid-19 has changed the way audience consume media. An undeniable trend surfaced in this period with the adoption of OTTs. The growing market and consumer appetite for content of choice available on OTT platforms fuelled this spurt. OTTs offer a never before consumer experience–choice of content, ease of access, choice of device/mediums (hand phone, laptop, tablet or TV screen), liberal censorship policy." Adds Shah, "We find ourselves in extraordinary times, where pandemic has had a negative effect on many traditional sectors. Conversely Covid has accelerated the shift in consumers' behaviour, pulling forward OTT disruption, otherwise which would have taken minimum half a decade." NV Capital Co-Founder and Managing Partner Vivek Menon adds, “India is the next bastion after US for boosting the subscriber base of International OTT players given the highly regulated environment of International OTT players in China. Add to that there are many international entrants like Comcast owned “Peacock” &amp; HBO sitting on the fence waiting to make their mark in India. Looking at this trend as well as the rapid rise of home-grown OTT providers, this industry will continue its strong growth momentum in the years to come.” The quality of content will always remain a significant driver of consumer growth. In recent years, we have witnessed a massive rise in original content being aired on OTT platforms. Apart from creating original content and facilitating binge-watching, networks and production houses have also begun to see value in getting rights to live events and performances. Audiences in India recently saw Filmfare and streaming social networks join forces for the first-ever OTT awards. This was a landmark event for India's media and entertainment industry. The massive investments made by OTT services like Netflix, Amazon, Disney+ Hotstar and others in original as well as acquired content will help subscription video-on-demand make up a lion share of the total OTT revenues going forward. Further, the next wave of growth in the OTT landscape will come from tier 2,3,4 cities and the Indian language speaking population. Key Factors Driving the industry • India has the second-highest per capita consumption of online video in the world • Cheapest mobile data in the world at INR 18.5/GB (2015 - INR313/GB) • Growth in rural internet penetration • The number of smartphone users in India is increasing at astronomical rate •The average monthly data usage per user in India increased 20% year-on-year to 13.5 GB in December 2020 as Indians spent about five hours daily on a smartphone, as per the Mobile Broadband India Traffic Index (Mbit) 2021. • Smartphones with affordable data have also brought the vibrant native speakers base of 22 scheduled Indian languages from Tier 2, 3, 4 cities online and created a massive opportunity • The next wave of growth in the OTT landscape will come from our very own Tier 2,3,4 cities and the Indian language speaking population • The viewing habits of Indian consumers have evolved a lot in the last few years. While on the one hand, short-form video content consumption on smartphones and social platforms has been on the rise, binge-watching shows on various OTT platforms have also become more common on the other hand

India's OTT industry to be worth $15 billion by 2030: Report

E-commerce startup <keyword id="1249046" type="General" weightage="100" keywordseo="dukaan" source="Orion">Dukaan</keyword> has replaced 90 per cent of its customer support team with an artificial intelligence (AI) chatbot, founder and CEO Suumit <keyword id="1858" type="General" weightage="80" keywordseo="shah" source="Orion">Shah</keyword> informed on Tuesday. Attributing the decision to prioritising profitability, he said customer support costs reduced by 85 per cent while resolution time went down from over two hours to three minutes. "We had to lay off 90 per cent of our support team because of this AI chatbot. Tough? Yes. Necessary? Absolutely," Shah tweeted. Several Twitter users criticised the tweet, deeming it insensitive. "Given the state of economy, startups are prioritising "profitability" over striving to become "unicorns", and so are we," Shah added. He explained in detail about Lina, the AI assistant which he claimed, replaces generic and delayed responses, as well as limited availability of resources and poor communication. After 12 tweets, Shah said that the company is hiring for multiple roles. When asked by a Twitter user about the assistance provided to the laid off staff, he asked them to look out for his LinkedIn post, reiterating that it was a tough decision. "As expected, 'someone' will get offended on behalf of 'someone else', so I had this reply ready: Assistance ke bare mein jab Linkedin pe post karunga tab dekh lena mere dost, yahaan Twitter pe log "profitability" dekhte hai "sympathy" nahi", Shah tweeted. "Laying off is never a pleasant experience, why is the need to proclaim and be proud about it," a Twitter user wrote. The announcement comes after Union Minister of State for Electronics and IT Rajeev Chandrasekhar deemed any concerns about AI threatening jobs as "nonsense". SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/oppo-reno-10-pro-plus-vs-oneplus-11-mobile-comparison-of-price-and-features/slidelist/101664468.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oppo-reno-10-pro-plus-vs-oneplus-11-mobile-comparison-of-price-and-features/slidelist/101664468.cms" target="_blank">Oppo Reno 10 Pro Plus vs OnePlus 11 – Which flagship phone wins the battle</a><a href="https://www.businessinsider.in/india/news/as-north-indian-states-battle-severe-monsoon-parts-of-maharashtra-see-water-shortage/slidelist/101660130.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/as-north-indian-states-battle-severe-monsoon-parts-of-maharashtra-see-water-shortage/slidelist/101660130.cms" target="_blank">As North Indian states battle severe monsoon, parts of Maharashtra see water shortage</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-5-z-flip-5-galaxy-watch-series-6-and-more-set-to-launch-july-end/articleshow/101538049.cms">Samsung Galaxy Z Fold 5, Z Flip 5, Galaxy Watch Series 6 and more set to launch July-end</a>

Dukaan lays off 90% staff for AI bot, attributes decision to focus on profitability

In a landmark decision, the <keyword id="6354756" type="General" weightage="100" keywordseo="bcci" source="Orion">BCCI</keyword> on Thursday announced equal match fees for its centrally-contracted female and male players in a bid to promote gender equality in the country's most popular sport. As per the newly introduced system, the Indian women's cricketers will now receive Rs 15 lakh per Test, Rs 6 lakh per ODI, and Rs 3 lakh per T20I, the same as their male counterparts. Earlier, the women players received Rs one lakh each for ODIs and T20Is while the match fee for a Test match was Rs four lakh. The decision was taken at the BCCI Apex Council emergent meeting. BCCI President Roger Binny said, "This decision sets the platform to grow and develop <keyword id="1521" type="General" weightage="50" keywordseo="cricket" source="Orion">cricket</keyword>. I believe this is a significant step forward for women's cricket and the game overall." BCCI secretary <keyword id="210899" type="General" weightage="50" keywordseo="jay-shah" source="Orion">Jay Shah</keyword> said pay equity is an important step towards tackling discrimination. "This is a landmark decision as we enter a new era in India Cricket. I would like to thank my colleagues in the BCCI Apex Council," he said. Earlier this year, New Zealand Cricket (NZC) had struck a deal with the country's players' association, which enabled the women cricketers to earn as much as the male players, while <keyword id="44302" type="General" weightage="50" keywordseo="cricket-australia" source="Orion">Cricket Australia</keyword> (CA) is also working to do away with gender disparity. India thus became only the second country in international cricket to implement equal pay. In the last two years, which included the shutdown brought about by the COVID-19 pandemic, the India men's team has played as many as 21 Tests while in the same period, the women's side has featured in only two one-off Tests on the tour England and Australia respectively. The announcement comes days after IPL chairman Arun Dhumal, who served as the board's treasurer in the last dispensation, said the BCCI treasury has increased by nearly Rs 6000 crore in the last three years. In his note to the members at the last Annual General Meeting (AGM), Dhumal mentioned that when the last team took charge of the Board from the CoA in 2019, the BCCI's coffers had funds of Rs 3648 crores. "We are handing over an organisation that sits over a treasury of Rs 9629 crores of funds, which is roughly thrice of what we got at the time of our taking over from CoA," Dhumal wrote in his note as the outgoing treasurer. "This is remarkable in the light of the fact that the disbursement to the state associations has seen a jump of nearly 5 times; from Rs 680 crores during the CoA tenure to Rs 3295 crores now to the state associations," Dhumal added. On expected lines, the decision was welcomed by the cricket fraternity." It's a historic move. It's a new dawn for women's cricket. Things were already moving ahead. WIPL together with pay equity policy are steps to get women's cricket to where men's cricket is today," the legendary Mithali Raj told PTI when called for her reaction." As a member of the women's cricket fraternity, I thank the BCCI and honorary secretary, Jay Shah, for this announcement. We are already witnessing the growth and popularity of women's cricket from 2017 till now. It's a great move in the right direction." Outgoing Apex Council member and former India player Shantha Rangaswamy, who attended the meeting, said, "This is a revolutionary decision by the BCCI. The decision shows that India treats its women equally and there is no gender discrimination. Would like to thank Jay Shah, Roger Binny and Rajeev Shukla for taking this momentous decision." Former India player Harbhajan Singh also hailed the BCCI's decision to bring parity in the match fee. "BCCI has set a standard for other sports bodies. It will encourage greater participation of women in the game. A historic milestone indeed!," the spin great wrote on Twitter. Recently, the Indian women's cricket team triumphed in the Asia Cup in Bangladesh, beating Sri Lanka by eight wickets. The team also won the country's first-ever silver medal in cricket at the Commonwealth Games in Birmingham earlier this year. In the last Annual General Meeting (AGM) of BCCI, the cricket board also announced the first-ever women's IPL that is scheduled to take place next year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/61-professionals-tell-their-families-what-they-earn-not-co-workers-or-friends-survey/articleshow/95113395.cms">61% professionals tell their families what they earn, not co-workers or friends: survey</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/world-champion-arm-wrestler-margaret-pathaw-gets-rs-5-lakh-award-from-meghalaya-govt/articleshow/95116073.cms">World champion arm wrestler Margaret Pathaw gets Rs 5 lakh award from Meghalaya govt</a>

BCCI bridges the gender pay gap, announces equal match fees to male and female players

New Delhi, Dec 5 () As onion prices continue to rule high at above Rs 100/kg in most cities, Home Minister Amit Shah on Thursday reviewed progress made in the import of key kitchen staple to boost domestic supplies and check spiralling prices.
 Commerce Minister Piyush Goyal and Agriculture Minister Narendra Singh Tomar were among the ministers who attended the meeting. Food and Consumer Affairs Minister Ram Vilas Paswan could not attend the meeting due to health reasons, officials said.
 Cabinet Secretary Rajeev Gauba, Advisor to Prime Minister P K Sinha and Consumer Affairs Secretary Avinash Srivastava were also present in the meeting, the officials added.
 The home minister reviewed the progress made in the decisions taken in the last meeting with respect to facilitating speedy import of onion that would help improve availability and cool prices.
 The consumer affairs secretary, who made a presentation on the onion price situation in the meeting, informed that state-run MMTC has contracted import of over 21,000 tonnes of onion from Egypt and Turkey and the shipments are expected to arrive by mid-January.
 The secretary said that tendering and fumigation norms have been eased to facilitate early arrival of the imported onions. MMTC has been directed to issue two country specifics tenders and one global tender for 5,000 tonnes each, the sources said.
 He also apprised that stock holding limits on retailers and wholesalers have been reduced further to 5 tonnes and 25 tonnes, respectively, to check hoarding. Already, onion exports have been banned and supplies are being improved through buffer stock as well, the sources added.
 Onion prices have been ruling high for past few weeks due to fall in production of the Kharif production due to unseasonal rainfall in the key growing states, including Maharashtra. LUX ACB MR

Amit Shah holds meet on onion prices

<keyword id="264298" type="PERSON" weightage="100" keywordseo="Gali-Janardhana-Reddy">Gali Janardhana Reddy</keyword>, the <a href="http://www.businessinsider.in/searchresult.cms?query=mining+baron&amp;sortorder=effectivedate">mining baron</a> and former <a href="http://www.businessinsider.in/searchresult.cms?query=karnataka&amp;sortorder=effectivedate">Karnataka</a> minister is hellbent on ensuring that his daughter’s wedding is the most <keyword id="4620813" type="UNKNOWN" weightage="100" keywordseo="lavish-wedding">lavish wedding</keyword> the country has seen. And, going by the preparations, it’s safe to say, he might have succeeded. 
 
It all started with the Reddys sending out an <a href="http://www.businessinsider.in/This-Karnataka-billionaires-daughters-wedding-invite-includes-an-LCD-screen-and-a-custom-shot-music-video-See-it-to-believe-it/articleshow/54938280.cms">outrageously lavish wedding invite </a>that comprised an LCD screen playing a custom video for all its recievers. Taking it a notch higher, <keyword id="68429" type="PERSON" weightage="100" keywordseo="Janardhana-Reddy">Janardhana Reddy</keyword> is reportedly spending a whopping Rs 500 crores on Brahmini, his daughter’s wedding, making the event the fattest wedding of the year. 
 Reddy who is an accused in several money laundering and illegal mining cases, believes that he is the reincarnation of the Vijayanagara King Krishnadevarya and has thus recreated the ancient city of <keyword id="49785" type="CITY" weightage="100" keywordseo="Hampi">Hampi</keyword> of the Vijayanagara empire on 36 acres of land at the Palace Grounds in <keyword id="6354321" type="CITY" weightage="100" keywordseo="Bengaluru">Bengaluru</keyword> as a setting for his daughter’s marriage. 
 The setting includes building King Krishnadevaraya’s palace, Lotus Mahal, Mahanavami Dibba, Vijaya Vittala Temple and Reddy’s childhood home ‘Hale Mane’, all of which are being reconstructed by <keyword id="143" type="CITY" weightage="100" keywordseo="Bollywood">Bollywood</keyword>’s biggest art directors and an army of labourers. Horses, elephants, camels and chariots will lend even more pomp to the ceremony. 
 
 
 
 On the other hand, the celebrations have already begun in full swing from November 12 with a mehendi ceremony and will culminate in this year’s most extravagant event on November 16 when Reddy’s daughter Brahmini ties the knot with <keyword id="426456" type="PERSON" weightage="100" keywordseo="Rajeev-Reddy">Rajeev Reddy</keyword>, the son of Hyderabad-based industrialist. As many as eight priests from the Tirupati Thirmala temple have been flown down to perform the rituals. 
 
It is estimated that over 30,000 guests will be in attendance, with 1500 rooms in star hotels being booked to accommodate them. There will also be 2000 cabs to ferry them to the venue and back while 15 helipads have also been set-up to fly in VIP guests. The VVIP guests, will be ferried from the entrance to the mandap area on cushioned bullock carts. 
 To ensure the security of all the guests, 3,000 bouncers, including special security on location, have been employed at the <keyword id="9092" type="UNKNOWN" weightage="100" keywordseo="Bangalore-palace">Bangalore Palace</keyword> ground. Additionally, 300 police personnel have been employed for the VVIPs to attend the wedding. Sniffer dogs and bomb squads have also been deployed on location for the day of the wedding. 
 
Reportedly, the bride’s wedding trousseau will comprise a Rs 17 crore saree, which she will wear on her wedding day. Accessorizing it will be jewellery worth Rs 90 crores, gifted by the bride’s father for the special occasion. 
 
 
 
Bollywood and Tollywood stars are also expected to attend the wedding, with rumours of performances by <a href="http://www.businessinsider.in/searchresult.cms?query=srk&amp;sortorder=effectivedate">Shah Rukh Khan</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=alia+bhatt&amp;sortorder=effectivedate">Alia Bhatt</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=varun+dhawan&amp;sortorder=effectivedate">Varun Dhawan</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=prabhu+deva&amp;sortorder=effectivedate">Prabhu Deva</a> flying wild. According to sources close to the family, State and Union government Ministers will be gracing the occasion. 
 
In light of Demonestisation, the one question everyone wishes to know is how has the move not affected the lavish preparations for the wedding. That’s because the Reddys has completed all the transactions six months ago right when the wedding planning had started. Infact, Reddy has mortgaged close to 10 of his properties to borrow Rs 30 crores. 
 
Reddy, who was arrested by the CBI on charges of illegal mining, has been out on bail since January 20, 2015, on the condition that he would not visit Ballari and Kadapa. In view of his daughter's marriage, Mr Reddy submitted a plea to permit him to visit Ballari and the apex court relaxed the restrictions for 21 days - from November 1 to 21. 
 
Image credit: NewsMinute

This billionaire politician built a palace in the middle of Bangalore for his daughter's Rs 500 crore wedding

<a href="http://www.businessinsider.in/searchresult.cms?query=aPPLE&amp;sortorder=effectivedate">Apple</a> CEO <a href="http://www.businessinsider.in/searchresult.cms?query=TIM+COOK&amp;sortorder=effectivedate">Tim Cook’</a>s India itinerary is getting more interesting by the minute. 
 After a temple visit and a <keyword id="143" type="CITY" weightage="100" keywordseo="Bollywood">Bollywood</keyword> bash hosted by none other than Shah Rukh Khan Wednesday night, <keyword id="6354427" type="CITY" weightage="100" keywordseo="Apple">Apple</keyword> CEO <keyword id="191843" type="PERSON" weightage="100" keywordseo="Tim-Cook">Tim Cook</keyword>'s entourage is now heading to Kanpur to watch an I<a href="http://www.businessinsider.in/searchresult.cms?query=ipl&amp;sortorder=effectivedate">ndian Premier League </a>game between <keyword id="1641060" type="UNKNOWN" weightage="100" keywordseo="Gujarat-lions">Gujarat Lions</keyword> and Kolkata Knight Riders Thursday evening. 
 
Kolkata Knight Riders is owned by Shah Rukh Khan. 
 "He's coming on my invitation," said <keyword id="6354312" type="CITY" weightage="100" keywordseo="IPL">IPL</keyword> chairman <keyword id="13855" type="PERSON" weightage="100" keywordseo="Rajeev-Shukla">Rajeev Shukla</keyword>, confirming that Cook is travelling to Kanpur from Hyderabad where he announced a new technology development dedicated to maps and signed an MoU with the G Narayanamma College to train students fusion technology for creating Apple maps. 
 
Apple on Thursday said that it is opening a new office in Hyderabad that will focus on development of Maps for Apple products. The investment will accelerate Maps development and create up to 4,000 jobs. 
 
Cook, 55, took charge of Apple in August 2011, having been chosen to take over by Jobs after the latter was diagnosed with pancreatic cancer. An MBA from Duke University and Bachelor of Science in industrial engineering from Auburn University, Cook was then the company's chief operating officer responsible for Apple's worldwide sales and operations, including the Mac business. 
 
The Indian government is expected to try and persuade Apple to invest in smartphone and computer manufacturing facilities in the country, in line with the government's 'Make in India' campaign. 
 
Image credit: Indiatimes

After temple visit and Bollywood party, Apple CEO Tim Cook to watch IPL match in Kanpur

<ul class="summary-list"><li>Stock-based compensation has been a popular way to attract and keep talent in the tech industry.</li><li>As tech stock prices plunge, firms are granting new stocks to staff to keep compensation high.</li></ul>Investors are getting antsy as rising stock-based compensation expenses against falling stock prices threaten their returns.The competitive landscape for talent over the past two years led tech companies to dole out equity in place of cash to make compensation packages as enticing as possible. As long as the stock price went up, investors had very little to say because it was part of the company's growth strategy, said Aalap Shah, managing director at advisory firm Pearl Meyer.But as stock values tumble in the second half of 2022, investors are looking at the increase in <a href="https://www.businessinsider.com/chart-new-data-shows-amazon-google-dilute-shareholders-the-most-2022-9">stock-based compensation (SBC) as an issue</a>.The more shares a company issues, the less value an investor's stake is. And tech companies have been issuing a lot of shares to not only attract new employees but hang on to their existing ones.Zoom, considered a pandemic darling stock, lost over 60% of its value this year and its net income fell over 85% to $48 million. At the same time, its SBC expenses rose from $256 million to $305 million in the third quarter.Another pandemic darling that rose to fame in 2020, Peloton, has fallen 68% year to date while its SBC has more than doubled, growing from $75 million to $182 million in the previous quarter.When employee stocks began to lose value in mid-2022, some companies issued new shares at a lower price to keep monetary incentives within reach. Other companies, like Zoom, offered to make up the difference in value.Zoom was eager to ensure there was no risk of workers "feeling that they're being undervalued," said Kelly Steckelberg, Zoom's CFO and treasurer, at Bank of America's 2022 Global Technology Conference in June.Over its last three quarters, Zoom granted 17.7 million restricted stock units, according to a regulatory filing. That's about 14 million RSUs more than it issued in its previous fiscal year.Peloton granted more than 4 million stock options and 1.7 million RSUs in its fiscal year that ended in June 2021. The following fiscal year, those numbers climbed to 19 million and 10 million, respectively. In the last quarter ending in September, the company issued more than 836,000 stock options and 13 million RSUs.In a period where investors are focused on profitability over growth, such retention and hiring efforts begin to look costly. Shareholders are still paying for the existing stock grants and now they're going to pay for new grants, too, said Shah."The drop in the stock price makes the expense, for lack of a better way to phrase it, a lot more expensive," he added.Jim Chanos took to Twitter to air his astonishment at how high SBC has risen at Zoom, tweeting, "$ZM SBC insanity continues, lol. $305M in the 3Q, up from $256M in 2Q, and $119M in 3Q last year. SBC is 94% of "Adjusted Net Income" this quarter. Unreal."SBC is on the rise among small and mid-sized firms, as well, according to analysts Mark Shmulik and Nikhil Devnani at Bernstein. It puts management in a "catch-22," they wrote. Making short-term decisions to juice your share price can lead to long-term disaster. But ignore your stock price, and you have trouble retaining talent since their equity is worth less. "Using stock at lower share prices to compensate employees further exacerbates the dilution effect of SBC," they write.Morgan Stanley analysts Meta Marshal and Keith Weiss penned in November that top-up grants will help with employee retention, but the competition for talent is causing employee stock offerings to be "outsized" and subsequently, SBC expenses will remain high in the short term.Sid Rajeev, head of research at Fundamental Research Group in Vancouver, expects tech companies to continue with this trend because they need the talent and cash alone is no longer a top selling point when all the other tech companies offer equity.If we're in a sustained contraction, SBC's expense is going to be a bit more top of mind. Whether investors keep SBC top of mind is dependent on how long the global economic contraction continues, Shah told Insider. If the market takes a turn for the better, the topic of stock-based compensation expenses will fall by the wayside again and growth will be at the forefront, he said.

Tech kept talent happy doling out stock during the boom. It's screwing investors in the bust.

A COVID-19 outbreak hit the Indian cricket team on Wednesday as three main players -- senior opener <keyword id="17805" type="General" weightage="20" keywordseo="shikhar-dhawan" source="Orion">Shikhar Dhawan</keyword>, reserve opener <keyword id="4238575" type="General" weightage="20" keywordseo="ruturaj-gaikwad" source="Orion">Ruturaj Gaikwad</keyword> and middle-order batter <keyword id="982208" type="General" weightage="20" keywordseo="shreyas-iyer" source="Orion">Shreyas Iyer</keyword> -- tested positive for the virus during their mandatory isolation period before the start of West Indies series. Four other persons, including net bowler Navdeep Saini, have also tested positive for COVID-19. Saini is also on standby list. The remaining three who tested positive for the virus are non-playing members -- fielding coach T Dilip, security liaison officer B Lokesh and masseur Rajeev Kumar. "The All-India Senior Selection Committee has added Mayank Agarwal to India's ODI squad after seven members, including three players of Team India (Senior Men) tested positive for COVID-19 following three rounds of RT-PCR testing," BCCI secretary Jay Shah said in a statement. The Indian team assembled in Ahmedabad on January 31 for the upcoming white-ball series against the West Indies and were going through a three-day isolation period post their break from the South Africa series. The series starts in Ahmedabad on February 6 with India's 1000th ODI match but it is now a foregone conclusion that the trio will be missing the series as they will have to undergo a week-long isolation and then return with two negative RT-PCR tests. Shah gave a lowdown of the sequence of positive cases in the India camp. "Opening batsman Shikhar Dhawan and fast bowler Navdeep Saini's (standby player) RT-PCR tests conducted on Monday (January 31st) have returned positive results,' Shah stated in the release. "Fielding Coach T. Dilip and Security Liaison Officer B. Lokesh's RT-PCR tests conducted on Monday (January 31st) have returned positive results. Batsman Ruturaj Gaikwad's RT-PCR test conducted on Tuesday (February 1st) has returned a positive result. He had tested negative during the first round of testing on Monday," the release further stated. "Batsman Shreyas Iyer and Sports Massage Therapist Rajeev Kumar's RT-PCR tests conducted on Wednesday (February 2nd) have returned positive results. Both had tested negative in the first two rounds of testing." The BCCI medical team is handling the positive cases and the infected persons will remain in isolation till complete recovery is attained. "The players are largely asymptomatic and hopefully will be fine by the end of the isolation period. You feel bad for Shikhar as he might have to miss the series and he is not a part of T20 squad," an official said. Even more disappointing is young Ruturaj Gaikwad's case as this is the second time in one and a half years that he has tested positive for COVID-19. "If you remember, Ruturaj had tested positive in UAE during the 2020 IPL and went through hell. He had a 14-day quarantine back then and missed first part of the season in the Emirates. This is the second time he has tested positive," the official added. It is confirmed that captain Rohit Sharma, senior players like Virat Kohli and coach Rahul Dravid have all tested negative as of Wednesday. "They have returned negative as of today." All those who tested negative will complete their mandatory isolation on Thursday. They will enter the bubble, if they test negative again on Thursday. "The testing protocol set by BCCI medical team is for every day RT-PCR as RAT (Rapid Antigen Test) is often not conclusive. Although teams are supplied with RAT kits in case any player shows symptoms and wants to do a self test," the official said. It is expected that M Shahrukh Khan, R Sai Kishore, Rishi Dhawan, who are stand byes for the series, will now get a look-in to be in the squad. As far as Rohit Sharma's opening partner is concerned, Mayank's inclusion makes it clear that team management is not looking at Ishan Kishan or Venkatesh Iyer for the slot. It must be noted that all the players had tested negative in RT-PCR when they embarked on their journey to Ahmedabad from their respective cities. "The members were asked to report in Ahmedabad on 31st January 2022 for the upcoming three-match ODI and T20I series against West Indies. Every member was also asked to undergo an RT-PCR test at home before embarking on their journey to Ahmedabad and the travel was undertaken only after testing negative," the BCCI said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/facebook-reported-decline-in-daily-active-users-for-first-time/articleshow/89314035.cms">History made after name change as Facebook reports fall in daily active users for the first time in 18-years</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/solana-polkadot-and-avalanche-heaviest-hit-in-the-latest-crypto-market-dip/slidelist/89313232.cms">Solana, Polkadot and Avalanche heaviest hit in the latest crypto market dip</a>

India vs West Indies ODI: Seven Indian team members test positive including Shikhar Dhawan, Ruturaj Gaikwad, and Shreyas Iyer

<ul class="summary-list"><li>Here are the five top insider stock buys from last week.</li><li>Companies include: <keyword id="279743" type="COMPANY" weightage="60" keywordseo="Krispy-Kreme">Krispy Kreme</keyword>, <keyword id="4999811" type="PERSON" weightage="60" keywordseo="SentinelOne">SentinelOne</keyword>, Aerovate Therapeutics, Intapp, and Acumen Pharmaceuticals.</li></ul><ul class="summary-list"></ul>Insider is watching which corporate executives are making big bets on their own companies. Here are the five companies that saw the biggest combined stock purchases from insiders during the period from July 2 through July 9, according to <a href="https://www.insider-monitor.com/top10_insider_buys_week.html" target="_blank" rel="noopener">data compiled by Insider Monitor</a>.<h3>1. Krispy Kreme - $98,965,594 </h3>On July 6 at $16.02 a piece, Austria-based firm <a href="https://sec.report/CIK/0001394212">Lucresca Se</a> bought <a href="http://edgar.secdatabase.com/2074/110465921090294/filing-main.htm">5,882,353 shares</a> of Krispy Kreme, amounting to $94,252,942. Lucresca Se, is an <a href="https://www.jabholco.com/documents/2/JABSarlconsolidatedfinancialsDec2019.pdf">affiliate</a> of JAB Holding, the German conglomerate that took Krispy Kreme private in 2016.Company chair Olivier Goudet also purchased 294,118 shares on the same day, amounting to $4,712,652. The donut chain on July 1 returned to the public <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> five years. It priced its IPO at $17 per share the previous night, well below its <a href="https://markets.businessinsider.com/news/stocks/krispy-kreme-ipo-stock-price-dnut-doughnut-valuation-public-trading-2021-7">expected range of $21 to $24</a>. Krispy Kreme in 2016 was <a href="https://www.businesswire.com/news/home/20160509005812/en/Krispy-Kreme-to-be-Acquired-by-JAB-Beech-for-21-Per-Share-in-Cash">acquired</a> by JAB for $21 per share in cash, or a total equity value of about $1.35 billion. <h3>2. SentinelOne - $85,308,944</h3>On July 2, private equity and venture capital firm Insight Partners purchased 202,556 shares of SentinelOne, an American cybersecurity startup, for $35 a piece, amounting to $7,089,460.New York-based investment adviser Third Point on the same day also purchased 1,765,691 shares at $37.91 a piece, amounting to $66,935,580. It bought 227,884 shares at $49.52 a piece again on July 7, totaling $11,283,904.SentinelOne on June 30 made its <a href="https://www.businessinsider.com/sentinelones-first-investor-also-wrote-zooms-first-check-2021-6">debut</a> on the New York Stock Exchange under the ticker symbol "S." At market close, its over $10 billion market capitalization made the Mountain View, California-based firm <a href="https://www.businessinsider.com/sentinelone-cybersecurity-ipo-crowdstrike-stock-public-cybersecurity-2021-6">the biggest cybersecurity IPO in history.</a><h3>3. Aerovate Therapeutics - $70,999,964</h3>On July 2 at $14 a piece, company director Rajeev Shah, who, according to <a href="https://whalewisdom.com/filer/shah-rajeev-m">filings</a>, is a constant investor in healthcare companies, purchased 2,785,714 shares, amounting to $38,999,996.Venture capital firm Atlas Venture and its partner David Grayzel each bought 535,714 shares, amounting to $7,499,996 per transaction as well. Private equity fund Cormorant Private Healthcare Fund purchased 500,000 shares, amounting to $7,000,000.James Healy and Katabi Maha, both general partners at Sofinnova Ventures, a biopharmaceutical venture capital firm, each bought 357,142 shares, amounting to $4,999,988 per transaction.Aerovate Therapeutics, a clinical stage biopharmaceutical company focused on developing drugs for rare cardiopulmonary disease, <a href="https://www.globenewswire.com/news-release/2021/06/30/2255267/0/en/Aerovate-Therapeutics-Announces-Pricing-of-Upsized-Initial-Public-Offering.html">announced</a> the closing of its initial public offering on July 2. The company's initial focus is on advancing a dry powder inhaled formulation for the treatment of pulmonary arterial hypertension.<h3>4. Intapp - $59,800,000</h3>On July 2 at $26 a piece, 10% owner Tembusu Capital purchased 1,920,000 shares of the software startup, totaling $49,920,000, while private equity firm Great Hill Investors bought 380,000 shares, totaling $9,880,000.The Palo Alto-based business management software company <a href="https://www.globenewswire.com/news-release/2021/06/30/2255258/0/en/Intapp-Announces-Pricing-of-Initial-Public-Offering.html">announced</a> the closing of its initial public offering on July 2. <h3>5. Acumen Pharmaceuticals - $59,356,000</h3>On July 6 at $16 a piece, investor Rajeev Shah, who also purchased Aerovate Therapeutics in the same week, purchased 1,875,000 shares, amounting to $30,000,000.A couple of 10% owners also went on a buying spree. Robert Hardie bought 1,062,500 shares, totalling $17,000,000 while Paul Manning purchased 312,500 shares, amounting to $5,000,000 shares.Directors John Stalfort John Frank and Nathan Fountain bought 35,000 shares, amounting to $560,000, and 6,250 shares, totaling $100,000 respectively.Frank Sands, also a 10% owner, bought 450,000 shares but at $14.88 a piece, amounting to $6,696,000.Acumen Pharmaceuticals, a clinical stage biopharmaceutical company focused on developing drugs for Alzheimer's disease, made its <a href="https://www.globenewswire.com/news-release/2021/07/01/2256197/0/en/Acumen-Pharmaceuticals-Announces-Pricing-of-Upsized-Initial-Public-Offering.html">debut</a> on the New York Stock Exchange on July 1 under the ticker symbol "ABOS." The offering closed on July 6.

The 5 biggest insider stock buys of last week

New Delhi, Dec 23 () Homegrown auto major Mahindra &amp; Mahindra (M&amp;M) on Monday announced a rejig of its top management in automotive and farm equipment sectors with its President for auto vertical Rajan Wadhera set to retire and step down from executive role.
Announcing changes in the group corporate office as well as in auto and farm sectors, to be effective from April 1, 2020, the company said Veejay Nakra will be appointed as CEO of the auto division. 
He will have operating responsibility for passenger vehicles and entire commercial business with profit and loss accountability, except for product development process, M&amp;M said in a statement.
It further said Hemant Sikka will head the farm equipment sector, while R Velusamy will be appointed as the chief of Global Product Development (Automotive) and Vinod Sahay as Chief Purchase Officer of AFS (auto and farm sectors).
Nakra, Sikka, Velusamy and Sahay will report to Rajesh Jejurikar, who will join M&amp;M Board as Executive Director AFS from April 1, 2020, it said.
M&amp;M said Rajeev Goyal will be appointed as CFO of AFS. He will have dual reporting to Jejurikar and S Durgashankar, who will have an enhanced role as Group Controller of Finance and Accounts working closely with CFOs of all group businesses.
The company further said its agri business headed by Ashok Sharma will move from AFS and report to SP Shukla, who will also continue to head the Aerospace, Defence and Steel Sector, reporting to Anish Shah, who will transition to become Managing Director and CEO on April 2, 2021.
Rajeshwar Tripathi will be the chief human resources officer for AFS. He will have dual reporting to Jejurikar and Ruzbeh Irani, who is slated to head M&amp;M's Group HR and communications, which includes CSR, Ethics and CIS.
Last week, M&amp;M had announced a rejig of its top management with Anand Mahindra, 64, transitioning to the role of non-executive chairman from executive chairman, effective April 1, 2020.
 The firm also reappointed Pawan Kumar Goenka as the managing director with additional responsibilities of chief executive officer for a year, effective April 1, 2020, and he will retire after his term ends. RKL ANU

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