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Rakesh Gangwal, co-founder of budget carrier IndiGo and an <keyword id="108320" type="General" weightage="80" keywordseo="iit-kanpur" source="Orion">IIT Kanpur</keyword> alumnus, has made a personal donation of Rs 100 crore to support the School of Medical Sciences and Technology at his alma mater. <keyword id="6354859" type="General" weightage="80" keywordseo="iit" source="Orion">IIT</keyword> <keyword id="6357478" type="General" weightage="100" keywordseo="kanpur" source="Orion">Kanpur</keyword> Director Abhay Karandikar confirmed this in a series of tweets. "Here is big news from IIT Kanpur. In an extraordinary gesture, our alumnus Rakesh Gangwal, co-founder of IndiGo airlines has made one of the largest personal donations with a Rs 100 crore contribution focused on supporting the School of Medical Sciences and Technology at IIT Kanpur," Karandikar tweeted. Gangwal has also signed a pact with IIT Kanpur to set up a school of Medical Sciences and Technology on the IIT Kanpur campus. He also donated Rs 100 crore for the purpose. The IndiGo co-founder will also soon join the Advisory Board of the institution. Gangwal told reporters, "It is a privilege to be associated with such a noble endeavour with my alma mater. I am proud to see that the institution that has produced thousands of leaders across various sectors is now paving the way in the healthcare sector. More than ever, healthcare is intertwined with technological advances and this school will accelerate innovation in healthcare." This school will be completed in two phases. The first phase will include setting up a 500-bed super-specialty hospital, academic block, residential/hostel and service block with a total built-up area of around 8, 10,000 square feet. It will also involve setting up Centres of Excellence (CoE) for pursuing R&amp;D activities in futuristic medicine and is tentatively planned to be completed over 3-5 years. The second phase is planned to be completed in 7-10 years and will see the hospital capacity to grow to 1,000 beds. It will also involve expanding clinical departments/centres, research areas, the inclusion of paramedical disciplines, alternative medicine, hospital management, sports medicine and public health programmes. Karandikar thanked Gangwal for his contribution and said: "The proposed medical school will play an important role in driving IIT Kanpur's innovations in medical research and technology and catapult India into the global league of institutions that are converging medical sciences and technology to benefit humankind." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/news/nasa-telescope-uses-moonlight-to-improve-satellite-accuracy/articleshow/90657804.cms">NASA telescope uses moonlight to improve satellite accuracy</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/elon-musk-is-now-asking-if-people-want-an-edit-button-in-twitter/articleshow/90656209.cms">Elon Musk is now asking if people want an edit button after acquiring a 9.2% stake in Twitter</a>

Former student and Indigo cofounder Rakesh Gangwal gifts  ₹100 crore to IIT-Kanpur

<ul><li><keyword id="6354706" type="DEFINITION" weightage="20" keywordseo="IndiGo">Indigo</keyword> co-founder <keyword id="843530" type="PERSON" weightage="20" keywordseo="Rakesh-Gangwal">Rakesh Gangwal</keyword> has called for an exceptional general meeting of the board.</li><li>He’s pushing for a resolution that would allow him to sell his stake in the airline without seeking the permission of his partner and the one who’s feuding against – Rahul Bhatia. </li><li>Shares of Interglobe Aviation jumped 3.08% to ₹1374, as hopeful investors think the feud might finally be coming to an end. </li></ul>It’s a new year and the saying to keep your problems in the old one - doesn’t seem to suit Rakesh Gangwal. The US-based billionaire Indigo co-founder has called for an exceptional general meeting of the board. He is pushing for a resolution that would allow him to sell his stake in the airline without seeking the permission of his partner and the one he’s fighting with – Rahul Bhatia. The war of the founders is another blow to the Indian aviation industry where many carriers are in trouble – from Jet Airways shutting shop to a debt ridden Air India struggling to make ends meet. But the news of the meeting made Indigo investors happy. Shares of Interglobe Aviation jumped 3.08% to ₹1374, as hopeful investors think the feud might finally be coming to an end. This could also lead to the possibility of an existing promoter leaving or a strategic investor coming on board. The call for the meeting could be Gangwal’s indication that he is giving up on a fight that has lasted for at least a year now. Or it could be his last try to have a greater say on the board, says an aviation expert. <table><tbody><tr><td></td><td>Name of the Shareholder</td><td>Shares</td><td>Percentage of total</td></tr><tr><td>1.</td><td>Rohini Bhatia</td><td>10,000</td><td>0</td></tr><tr><td>2.</td><td>INTERGLOBE ENTERPRISES PRIVATE LIMITED</td><td>145,706,774</td><td>37.88</td></tr><tr><td>3. </td><td>Shobha Gangwal</td><td>32,310,461</td><td>8.4</td></tr><tr><td>4.</td><td>The Chinkerpoo Family Trust (Trustee: Shobha Gangwal &amp; J. P. Morgan Trust Company of Delaware)</td><td>52,263,313</td><td>13.59</td></tr><tr><td>5.</td><td>Rakesh Gangwal</td><td>56,421,132</td><td>14.67</td></tr><tr><td>6.</td><td>Kapil Bhatia</td><td>50,000</td><td>0.01</td></tr><tr><td>7.</td><td>Rahul Bhatia</td><td>40,000</td><td>0.01</td></tr><tr><td>8.</td><td>Asha Mukherjee</td><td>1,250,688</td><td>0.33</td></tr><tr><td>9.</td><td>Alok Mehta</td><td>255</td><td>0</td></tr></tbody></table> “Gangwal probably tried to make it a reasonable bargain in terms of having a say in what is going on. He is talking about improving the governance – an equal number of people representing major shareholders. If that doesn’t happen, he will keep his options open. We have to wait for the meeting to understand more and see what really happens,” Amrit Pandurangi, an aviation expert told Business Insider. The logic behind the EGM Experts believe that Gangwal hopes that with this EGM, members of the board will understand his logic or argument. He will insist that special policy decisions or strategy decisions have to be taken when the full board is present. Earlier, Gangawal raised questions on the governance of Indigo and related party transactions. “Suppose he does not have this, even if he wants to exit he would like to do this from a position of strength rather than as somebody who did not get support and is that’s why moving out. But whether he wants to or not, remains to be seen. We should not look so far yet,” said Pandurangi. ‘Lack of checks and balances’ In June last year, Gangwal wrote to the Securities and Exchange Board of India (SEBI), alleging multiple violations at Indigo. This led to the differences between Gangwal and Bhatia coming out in the open. Gangwal had then written that he had entered into a shareholder’s agreement with Bhatia, which gave the latter controlling rights over the majority of decisions at Indigo. “I hadn't contemplated that over the years, Bhatia would start building an ecosystem of other companies that would enter into dozens of related party transactions with IndiGo. We are not against RPTs as long as proper checks and balances exist and such RPTs are in the best interest of the Company,” Gangwal <a href="https://www.cnbctv18.com/aviation/read-full-text-of-indigo-co-founder-rakesh-gangwals-letter-to-sebi-3948801.htm">wrote in the letter.</a> SEE ALSO <a href="https://www.businessinsider.in/business/news/without-buyer-ai-might-be-forced-to-shut-down-in-six-months-airline-official/articleshow/73031626.cms">Air India might shut down in 6 months if it isn't sold, says official</a> <a href="https://www.businessinsider.in/careers/news/india-has-made-commercial-pilot-licences-faster-and-easier-to-beat-the-shortage-in-airlines-most-expensive-asset/articleshow/73032441.cms">India has made commercial pilot licences faster and easier to beat the shortage in airlines' most-expensive asset</a>

One of Indigo’s promoters – Rakesh Gangwal – wants more say or a way out

<ul><li>The country’s largest airline <keyword id="6354706" type="COMPANY" weightage="20" keywordseo="IndiGo">IndiGo</keyword>’s shares crashed 10.7% to ₹ 1,397 on Wednesday’s closing. </li><li>Gangwal, one of the co-founders of IndiGo, wrote to the markets regulator SEBI seeking intervention on curbing possible governance violations by Bhatia. </li><li>As per Gangwal’s allegations, Bhatia’s InterGlobe Enterprises (IGE) unduly has received benefits from faulty transactions which had <a href="https://www.moneycontrol.com/news/business/companies/the-indigo-rift-with-this-20b-deal-did-rahul-bhatia-leave-rakesh-gangwal-with-a-hurt-ego-4188841.html">violated company norms</a>. </li></ul>The country’s largest airline IndiGo’s shares crashed 10.7% to ₹ 1,397 on Wednesday’s closing, thanks to the very public fight between its two promoters--Rahul Bhatia and <keyword id="843530" type="PERSON" weightage="20" keywordseo="Rakesh-Gangwal">Rakesh Gangwal</keyword>. It also touched lower circuit and the volumes also swelled probably due to large number of people selling the stock. Gangwal, one of the co-founders of IndiGo, wrote to the markets regulator SEBI seeking intervention on curbing possible governance violations by Bhatia, a stock exchange notification said. As per Gangwal’s allegations, Bhatia’s InterGlobe Enterprises (IGE) unduly has received benefits from faulty transactions which had <a href="https://www.moneycontrol.com/news/business/companies/the-indigo-rift-with-this-20b-deal-did-rahul-bhatia-leave-rakesh-gangwal-with-a-hurt-ego-4188841.html">violated company norms</a>. IGE is the parent company of IndiGo which also has hospitality, flight training and other aviation related businesses. The friends-turned-partners-turned-foes had joined hands in 2005 to form IndiGo airlines. Now, they own almost equal stake in the company, making it a long and tough fight. Bhatia and his family own 38% of the IndiGo shares while Gangwal had 37% shareholding. Bhatia however has controlling rights of the company and also a greater say in decision making, which includes appointing senior company management. The deal that drifted them apart A drift developed between the promoters after the company struck a $20 billion deal with US based CFM international for LEAP-1A engines in June. The engines are to be used in Indigo’s future fleet of 280 Airbus 320 and 321 aeroplanes. The deal was finalised after many flight disruptions were reported in the Pratt and Whitney engines, which it had been using since inception. “This was a huge change. Pratt and Whitney was supplying the engines since start of Indigo. Of course, P&amp;W engines had major problems with the Neos,” said a senior executive from the aviation industry. Hurt Egos In June, Gangawal sought a requisition for an extraordinary general meeting (EGM) to highlight governance issues. However, Bhatia alleged that his partners wants him to dilute his rights. “The genesis of Mr. Gangwal’s angst lies elsewhere - the refusal of the IGE Group to succumb to his demands to dilute the IGE Group’s controlling rights,” Bhatia said. He added that, “Gangwal’s ego was hurt on realizing that upon his refusal to lend in the company’s ongoing negotiations with Original Equipment manufacturers (OEMs), the company had proceeded to make alternate arrangements for the purpose.”

IndiGo’s shares crash to a new low after a promoter alleges the other of governance violations

New Delhi, Jan 29 () Shareholders of InterGlobe Aviation, the parent company of Indigo airline, on Wednesday rejected a special resolution of co-promoter Rakesh Gangwal to amend the company's Articles of Association (AoA).
 Gangwal had sought removal of articles pertaining to transfer and acquisition of the company's shares, including 'Right of First Refusal' and ' Tag Along Right'.
 "The Special Resolution has not been passed as the votes cast in favour (48.55 per cent) of the resolution are less than three times the number of votes cast against (51.44 per cent) the resolution," InterGlobe Aviation said in a BSE filing after the extraordinary general meeting held here on Wednesday.
 Rahul Bhatia and affiliates -- InterGlobe Enterprises (IGE) Group -- has around 38 per cent stake in the company and Rakesh Gangwal and his related entities own around 36.64 per cent stake.
 As per the AoA, if any member of Rahul Bhatia-led IGE Group wants to transfer shares to a third party, then the non-transferring group will have the 'Right of First Refusal' subject to certain conditions.
 Similarly, the non-transferring group will also have the 'Tag Along Right' wherein it would have the option to sell some part of the shareholding.
 The differences between co-founders and co-promoters -- Rakesh Gangwal and Rahul Bhatia -- came to the fore in July 2019 after Gangwal sought market regulator Sebi's intervention to address alleged corporate governance lapses at the company. In the wake of the feud, arbitration proceedings are also going overseas between the two promoters' sides. DSP MR

IndiGo EGM: Shareholders reject co-promoter Gangwal's special resolution to amend AoA

Equity benchmark indices rebounded in early trade on Thursday after falling in the previous two trading days, helped by foreign fund inflows and a largely positive trend in global markets. The 30-share <keyword id="53232" type="General" weightage="80" keywordseo="bse-sensex" source="Orion">BSE Sensex</keyword> climbed 550.73 points to 59,579.64. On similar lines, the broader NSE Nifty went higher by 156.1 points to 17,780.50. All the 30-share Sensex pack of firms were trading in the green in early trade, with Asian Paints, <keyword id="6355596" type="General" weightage="80" keywordseo="ultratech-cement" source="Orion">UltraTech Cement</keyword>, <keyword id="6354287" type="General" weightage="80" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword>, <keyword id="6653" type="General" weightage="80" keywordseo="icici-bank" source="Orion">ICICI Bank</keyword>, Tech Mahindra, Infosys, Mahindra &amp; Mahindra and Bajaj Finance emerging as the biggest gainers. Elsewhere in Asia, markets in Seoul and Tokyo were trading in the green, while Shanghai and Hong Kong quoted lower in mid-session deals. The US markets had ended significantly higher on Wednesday. The 30-share <keyword id="35140" type="General" weightage="80" keywordseo="bse" source="Orion">BSE</keyword> benchmark declined 168.08 points or 0.28 per cent to settle at 59,028.91 on Wednesday. The Nifty dipped 31.20 points or 0.18 per cent to 17,624.40. Meanwhile, the international oil benchmark Brent crude climbed 1.05 per cent to USD 88.92 per barrel. Foreign institutional investors (FIIs) were net buyers as they bought shares worth Rs 758.37 crore on Wednesday, as per exchange data. "After two days of a steady fall, local equity benchmark indices are likely to see a firm opening, mirroring gains in US markets and subsequent upmove in other Asian peers," said Prashanth Tapse - Research Analyst, Senior VP (Research), <keyword id="5457637" type="General" weightage="80" keywordseo="mehta-equities-ltd" source="Orion">Mehta Equities Ltd</keyword> in his pre-market opening comment. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/indigo-shares-fall-over-4-as-co-founder-rakesh-gangwal-offloads-2000-cr-worth-stake/articleshow/94065345.cms">IndiGo shares fall over 4% as co-founder Rakesh Gangwal offloads ₹2,000 cr worth stake</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/cyrus-mistry-death-mercedes-sending-cars-electronic-control-module-to-germany-for-analysis-says-official/articleshow/94063831.cms">Cyrus Mistry death: Mercedes sending car's electronic control module to Germany for analysis, says official</a>

Sensex, Nifty in the green as crude prices soften

Mindtree, a <keyword id="147676" type="General" weightage="80" keywordseo="larsen" source="Orion">Larsen</keyword> &amp; Toubro Group company, is planning to set up a development centre in <keyword id="6354925" type="General" weightage="50" keywordseo="kolkata" source="Orion">Kolkata</keyword>, which could create employment opportunities for 15,000-20,000 people in the next four-five years, a company official said here on Wednesday. The IT services firm has already onboarded 1,700 people in its existing facility in the West Bengal capital so far, he said. "We have taken up 19 acres of space. Hopefully, things will start. The construction will be done by L&amp;T... the management is committed. We will set up a huge centre," Mindtree Ltd Chief Executive Officer and Managing Director <keyword id="214484" type="General" weightage="80" keywordseo="debashis-chatterjee" source="Orion">Debashis Chatterjee</keyword> said at ICT East organised by CII. The development centre can create employment opportunities for 15,000-20,000 people, he said. The IT company had in March announced the opening of its first development centre in Kolkata. Another IT company of the L&amp;T group, Larsen and Toubro Infotech (LTI) had in June also announced opening up of a new centre in the eastern metropolis. Larsen and Toubro board had in May announced a composite scheme of amalgamation of its two listed IT services firms to create a combined entity. During the event, State Information Technology minister <keyword id="6721" type="General" weightage="80" keywordseo="babul-supriyo" source="Orion">Babul Supriyo</keyword> urged the industry leaders to guide his department about "what needs to be done" to grow the information and technology sector in West Bengal. Another multinational technology firm Oracle is also weighing opportunities in the state for a data centre project that could help small and medium businesses. We are working very closely with the government towards creating a dedicated data centre for West Bengal, said <keyword id="105775" type="General" weightage="80" keywordseo="shailendra-kumar" source="Orion">Shailendra Kumar</keyword>, senior vice president, regional managing director India and NetSuite JAPAC, Oracle NetSuite Global Business Unit. The plans could take shape over the next 2-3 months, he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/sensex-nifty-in-the-green-as-crude-prices-soften/articleshow/94066162.cms">Sensex, Nifty in the green as crude prices soften</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/indigo-shares-fall-over-4-as-co-founder-rakesh-gangwal-offloads-2000-cr-worth-stake/articleshow/94065345.cms">IndiGo shares fall over 4% as co-founder Rakesh Gangwal offloads ₹2,000 cr worth stake</a>

Mindtree planning to set up development centre in Kolkata: CEO

<ul><li><keyword id="44903" type="General" weightage="20" keywordseo="shiv-nadar" source="Orion">Shiv Nadar</keyword> made donations worth ₹1,161 crore during FY22, which comes up to ₹3 crore per day.</li><li>Wipro’s <keyword id="6419840" type="General" weightage="20" keywordseo="azim-premji" source="Orion">Azim Premji</keyword> slips to the second spot with an annual donation of ₹484 crore as his contribution towards philanthropy has fallen by 95% year-on-year.</li><li>Overall, contributions towards philanthropy have fallen in FY22 because of the pandemic impact.</li><li>The top 10 list cumulatively donated ₹3,378 crore in FY22, as against a combined donation of ₹12,785 crore last year.</li></ul>Shiv Nadar, the founder and chairman of HCL Technologies, is India’s most generous, with donations of ₹3 crore per day, even as contributions towards philanthropy continue to moderate after the pandemic. With an annual contribution of ₹1,161 crore in fiscal 2022, Shiv Nadar has displaced Wipro’s Azim Premji as the most generous Indian, according to the EdelGive <keyword id="3606268" type="General" weightage="20" keywordseo="hurun-india-philanthropy-list" source="Orion">Hurun India Philanthropy List</keyword> 2022. The top 10 list cumulatively donated ₹3,378 crore in FY22, as against a combined donation of ₹12,785 crore last year. The good news is that the list has seen 19 new additions, with total donations by these new entrants adding up to ₹832 crore. Also, six women have featured on the list this year. The youngest philanthropist on the list is 36-year-old Nikhil Kamath of Zerodha. Clearly, the young entrepreneurs are beginning their philanthropic journey early on unlike many others from corporate India. Nadar’s philanthropic efforts have mainly focussed on education. Overall, contributions towards philanthropy have fallen in FY22 because of the pandemic impact. Nadar’s donation too is down 8% in the fiscal year 2021-22, as per the list. Wipro’s Azim Premji slipped to the second spot with an annual donation of ₹484 crore as his contribution towards philanthropy has fallen by 95% year-on-year due to the exceptional share buy-back in 2021, says the report. Billionaire <keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>, the chairman of Reliance Industries, is third on the list with contributions totalling ₹411 crore. Ambani’s contribution fell 29% compared to last year. Kumar Mangalam Birla was fourth on the list with a contribution of ₹242 crore. Couples Susmita &amp; Subroto Bagchi and Radha &amp; NS Parthasarathy from Mindtree’s management debuted on the list with a combined donation of ₹426 crore to the Indian Institute of Science (IISc) and also entered the top 10 and were ranked fifth. Both Subroto and Parthasarathy are co-founders of Mindtree. With a donation of ₹190 crore, <keyword id="111343" type="General" weightage="20" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword> &amp; family ranks seventh on the EdelGive Hurun India Philanthropy List 2022. Next in line is Anil Agarwal &amp; family of Vedanta whose contribution increased by 27% from last year to ₹165 crore. Nandan Nilekani and his wife Rohini Nilekani are ranked ninth and eleventh, respectively, in the list and are active philanthropists. Larsen &amp; Toubro’s group executive chairman AM Naik is ranked tenth with a donation of ₹142 crore in FY22. While many billionaires of the past have turned generous later in life, some new-age tech entrepreneurs are giving away much earlier. <keyword id="1430802" type="General" weightage="20" keywordseo="nithin-kamath" source="Orion">Nithin Kamath</keyword> and Nikhil Kamath of Zerodha increased their donation by a whopping 300% to ₹100 crore during the year. At 36 years, Nikhil Kamath is the youngest philanthropist on the Hurun list. Another surprise entrant this year has been Rakesh Gangwal, the co-promoter of InterGlobe Aviation (company that owns Indigo Airlines). Gangwal debuted this year with a personal contribution of ₹100 crore to the School of Medical Sciences and Technology at IIT, Kanpur. “EdelGive Hurun India Philanthropy List aims at chronicling the Indian philanthropy landscape and so far the transformation is encouraging. For instance, over the last 5 years, (the) number of donors who have given more than ₹100 crore have grown from 2 to 15, and over ₹50 crore have grown from 5 to 20. Considering the wealth creation potential of India and assuming that the billionaires keep up with philanthropy, I expect these numbers to at least double over the next 5 years,” said Anas Rahman Junaid, MD and chief researcher at Hurun India. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Top 10 philanthropists </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Donation (in ₹ crore) </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Primary Cause </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Company </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Shiv Nadar &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1,161 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Education </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Azim Premji &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">484 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Education </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mukesh Ambani &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">411 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Education </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Reliance Industries </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Kumar Mangalam Birla &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">242 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Healthcare </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Susmita and Subroto Bagchi </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">213 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Healthcare </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mindtree </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Radha and NS Parthasarathy </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">213 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Healthcare </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mindtree </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Gautam Adani &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">190 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Disaster Relief </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Adani </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Anil Agarwal &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">165 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Disaster Relief </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Vedanta </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nandan Nilekani </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">159 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Societal Thinking </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">AM Naik </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">142 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Healthcare </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Larsen &amp; Toubro </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-transmission-bags-project-from-best-to-install-over-1-million-smart-meters-in-mumbai/articleshow/94982223.cms">Adani Transmission bags project from BEST to install over 1 million smart meters in Mumbai</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tracxn-technologies-lists-at-3-7-premium/articleshow/94978323.cms">Tracxn Technologies lists at 3.7% premium</a>

Shiv Nadar tops philanthropy list, even as India’s most generous cut back after the pandemic

New Delhi, Jan 3 () InterGlobe Aviation shares rose by over 2 per cent on Friday after the company announced convening a meeting of shareholders on January 29, at the request of co-promoter Rakesh Gangwal, for removing various provisions in a key document of the company.
 The scrip gained 2.10 per cent to close at Rs 1,360.95 on the BSE. During the day, it jumped 3.68 per cent to Rs 1,382.
 At the NSE, the scrip rose by 2.14 per cent to close at Rs 1,360.95.
In signs that promoters' feud are far from over, InterGlobe Aviation on Friday announced convening a meeting of shareholders on January 29, at the request of co-promoter Rakesh Gangwal, for removing various provisions in a key document of the company.
 The extraordinary general meeting (EGM) would discuss deleting various Articles pertaining to transfer and acquisiton of the company's shares, including 'Right of First Refusal' and ' Tag Along Right', in the company's Articles of Association (AoA).
 The meeting is being convened on January 29 following request by Rakesh Gangwal (RG) Group and related entities who together hold 36.64 per cent stake in the company, a regulatory filing said on Friday.
The differences between co-founders and co-promoters -- Rakesh Gangwal and Rahul Bhatia -- came to the fore in July 2019 after Gangwal sought market regulator Sebi's intervention to address alleged corporate governance lapses at the company. In the wake of the feud, arbitration proceedings are also going overseas between the two promoters' sides. SUM MR
MR

InterGlobe Aviation shares rise over 2 pc on announcement of shareholders meet on Jan 29

<ul><li><keyword id="6357886" type="General" weightage="20" keywordseo="phonepe" source="Orion">PhonePe</keyword> is looking forward to expanding its workforce by hiring 2800 people by the end of this year.</li><li>The company will be hiring across various domains like engineering, product, analytics, business development, and sales.</li><li>Other than that, PhonePe is also actively investing in PhonePe university, which is a holistic programme in tech that aims to accelerate learning and impact for engineers.</li></ul>PhonePe, a Bengaluru-based <keyword id="4002923" type="General" weightage="20" keywordseo="digital-payment-platform" source="Orion">digital payment platform</keyword>, has announced that it will double its total employee strength by December 2022. The company will be hiring 2800 people and will be scaling up its headcount from 2600 to 5400 employees. The company plans to fill in 2800 positions in various levels and functions like engineering, product, analytics, business development, and sales teams located in Bengaluru, Pune, Mumbai, Delhi, and the rest of the country. “We are building a long-term sustainable organisation, anchored on technology, and unlocking value for all. We’re proud that PhonePe has emerged as the employer of choice for smart, ambitious people who are keen on creating outsized impact. The company offers the opportunity for people to learn and grow by getting to work on some of the most complex problems in the industry,” says Manmeet Sandhu, head of human resources at PhonePe. Other than that, PhonePe is also actively investing in PhonePe university, which is a holistic programme in tech that aims to accelerate learning and impact for engineers, while also enabling expansion of the ready-now engineering talent in the startup space. “PhonePe’s progressive efforts to create a diverse, vibrant, and positive workplace were formalised last year with the launch of its Diversity and Inclusion Initiative. Since then, the company has seen an increased representation of women in leadership roles, as well as more hires from the LGBTQI community and persons with disability,” Sandhu added further. The company also claims that it offers above-market compensation, has below-market attrition rates, and offers wealth creation opportunities to all employees through its employee stock ownership plan (ESOPs) programme. The digital payments company recently launched a ‘Mother@PhonePe’ programme especially for mothers to give them the flexibility to come back to the workforce whenever they are ready. The company also launched another programme called ‘Parents@PhonePe’ which covers secondary caregivers, thus promoting a more balanced distribution of responsibilities among new parents. PhonePe was founded in December 2015 and it claims to have digitised over 27 million offline merchants spread across tier 2,3,4 and beyond and claims to have covered 99% of pin codes in the country. Using PhonePe, users can also send and receive money, recharge mobile, DTH, pay at stores, and make all their utility payments. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/lenovo-to-hire-12000-rd-professionals-in-the-next-3-years/articleshow/90659225.cms">Lenovo to hire 12,000 R&amp;D professionals in the next 3 years</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/news/former-student-and-indigo-co-founder-rakesh-gangwal-gifts-100-crore-to-iit-kanpur/articleshow/90660595.cms">Former student and Indigo co-founder Rakesh Gangwal gifts ₹100 crore to IIT-Kanpur</a>

Digital payments platform PhonePe to hire 2800 people by the end of this year

There is no other reason for a film's failure other than its content not being good, said Bollywood star <keyword id="6357861" type="General" weightage="50" keywordseo="ranbir-kapoor" source="Orion">Ranbir Kapoor</keyword> on Wednesday as he opened up about the poor performance of his last release "<keyword id="6503823" type="General" weightage="80" keywordseo="shamshera" source="Orion">Shamshera</keyword>". <keyword id="53" type="General" weightage="100" keywordseo="kapoor" source="Orion">Kapoor</keyword> was speaking at the press conference here to promote his latest release "Brahmastra: Part One-Shiva", co-starring his actor-wife Alia Bhatt. Asked whether he feels Hindi movies are being unfairly treated in recent times, Kapoor said, "I will give the example of my own film. I will not talk about other films. Few weeks ago, my film 'Shamshera' was released. I didn't feel any negativity." "The film didn't run at box office, it is probably because the audience didn't like the film. Eventually it is about the content," he added. In recent times, mainstream Hindi movies like Ranveer Singh's "Jayeshbhai Jordaar", Akshay Kumar's "Bachchhan Paandey", "Samrat Prithviraj" and "Raksha Bandhan", along with Aamir Khan-starrer "Laal Singh Chaddha", failed to register big numbers at the box office. Kapoor, known for movies such as "Rockstar", "Barfi!" and "Sanju", said the audiences will only be entertained if they are served good content. "Who doesn't want to go to the movies to experience a different emotion, get moved by characters, be entertained, get a great laugh, cry and feel something? We all want to feel that. If a film doesn't work, there is no other reason. It is because the content is not good," he added. "Brahmastra", directed by his frequent collaborator and close friend <keyword id="66166" type="General" weightage="50" keywordseo="ayan-mukerji" source="Orion">Ayan Mukerji</keyword>, has been in the making for a long time and faced several delays due to various reasons. Kapoor said no one, including his father, late cinema icon Rishi Kapoor, understood what it takes to make a film like "Brahmastra", which has been mounted on a huge budget and is loaded with visual effects. "It's been so long... No one really understood what it takes to make a film like this because no one has really done this, especially people we know. "The film has been going on for so many years. I remember when my father was alive, I used to lie that I was shooting 'Brahmastra'. I used to hide it and say I'm shooting for some other movie," the 39-year-old actor said. He also credited Mukerji, the director of his two blockbusters "Wake Up Sid" (2008) and "Yeh Jawaani Hai Deewani" (2013), for his growth as an actor. "I have known Ayan since 2008 when he narrated 'Wake Up Sid' to me. I didn't know him before that. He is someone who just came and narrated his entire story. He was sitting on the floor and he was narrating the film for me, saying it would take just 1 hour but it took 5 hours to narrate that film. "I really felt that energy from a young filmmaker and I was like, 'Wow, this guy really has a story to tell.' He is passionate about every word, every character and I could feel that energy. I think art is about energy. You have to feel the energy within other people." Kapoor said he is aware that he will not get another opportunity to do a movie like "Brahmastra" again. "It's not like that after 'Brahmastra', I will do only these kinds of films. I know I won't get an opportunity like this again. I hope going forward I get other opportunities to showcase other different characters that I can portray," he added. "Brahmastra Part One: Shiva , which also features megastar <keyword id="6357912" type="General" weightage="50" keywordseo="amitabh-bachchan" source="Orion">Amitabh Bachchan</keyword>, Nagarjuna and <keyword id="6370219" type="General" weightage="50" keywordseo="mouni-roy" source="Orion">Mouni Roy</keyword>, is a joint production of Star Studios, Dharma Productions, Prime Focus and Starlight Pictures. The movie will be released in theatres in Hindi, Tamil, Telugu, <keyword id="6354291" type="General" weightage="50" keywordseo="kannada" source="Orion">Kannada</keyword> and Malayalam on Friday. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/sensex-nifty-in-the-green-as-crude-prices-soften/articleshow/94066162.cms">Sensex, Nifty in the green as crude prices soften</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/indigo-shares-fall-over-4-as-co-founder-rakesh-gangwal-offloads-2000-cr-worth-stake/articleshow/94065345.cms">IndiGo shares fall over 4% as co-founder Rakesh Gangwal offloads ₹2,000 cr worth stake</a>

You Searched For "Rakesh Gangwal" and got 10 results

Former student and Indigo cofounder Rakesh Gangwal gifts ₹100 crore to IIT-Kanpur

IANS

One of Indigo’s promoters – Rakesh Gangwal – wants more say or a way out

Sanchita Dash

IndiGo’s shares crash to a new low after a promoter alleges the other of governance violations

BI India Bureau

IndiGo EGM: Shareholders reject co-promoter Gangwal's special resolution to amend AoA

PTI

Sensex, Nifty in the green as crude prices soften

PTI

Mindtree planning to set up development centre in Kolkata: CEO

PTI

Shiv Nadar tops philanthropy list, even as India’s most generous cut back after the pandemic

Bhakti Makwana

InterGlobe Aviation shares rise over 2 pc on announcement of shareholders meet on Jan 29

PTI

Digital payments platform PhonePe to hire 2800 people by the end of this year

Vaamanaa Sethi

'Shamshera' didn't work because content was not good: Ranbir Kapoor

PTI

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