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The Indian Premier League (IPL) or popularly called ‘India ka tyohar’ has begun with the expected pomp and show. And with the <keyword id="2565794" type="UNKNOWN" weightage="20" keywordseo="IPL-8">IPL 8</keyword> on, many of us are cheering for our favourite teams before the idiot box. But while we enjoy this season, IPL also reminds us of the murky business that cricket has become. But has that deterred the game from being the nation’s favourite? 
 “Let’s not get carried away. Yes, some of the stuff is not right for the image of the game. But there has been controversy in sports since 1930s,” said <keyword id="201892" type="PERSON" weightage="20" keywordseo="Ravi-Krishnan">Ravi Krishnan</keyword>, the former managing director of IMG South Asia, who went on to become the co-founder and CEO of Stepathalon, a global wellness company. 
 
Substantiating his point, he asserted that the scam has hardly an impact on the game’s image. “Now when you say marred, there are more people, more viewership and more money in the game. So, where is the mar here?” averred Krishnan. 
 
Krishnan reaffirmed that the IPL controversy that happened in 2013, did not impact the sport enthusiast. He clarified that people still love the game and everything it stands for. “It brings more people to the game and the game is on an upward trajectory. I agree match-fixing is not good for the game but at present, the game is bigger than anything else,” he stated. 
 It is worth noting that in 2013, IPL was embroiled in a controversy when three players from Rajasthan Royals- <keyword id="13418" type="PERSON" weightage="20" keywordseo="S-Sreesanth">S Sreesanth</keyword>, <keyword id="219674" type="PERSON" weightage="20" keywordseo="Ankeet-Chavan">Ankeet Chavan</keyword> and <keyword id="1050075" type="PERSON" weightage="20" keywordseo="Ajit-Chandila">Ajit Chandila</keyword>, were arrested for spot fixing. Later, Gurunath Meiyappan, the team principal of Chennai SuperKings was also arrested on charges of betting. <keyword id="6358615" type="PERSON" weightage="20" keywordseo="Shilpa-Shetty">Shilpa Shetty</keyword>’s husband and co-owner of <keyword id="13808" type="COMPANY" weightage="20" keywordseo="Rajasthan-Royal">Rajasthan Royal</keyword>, Raj Kundra too confessed to be involved in betting. 
 
Image Credit: ipl8openingceremony.com

IPL; Scams helped this game to become more popular

Director <keyword id="25777" type="General" weightage="20" keywordseo="Mani-Ratnam" source="Orion">Mani Ratnam</keyword>'s big screen spectacle film "Ponniyin Selvan-I" has raised over Rs 300 crore in its worldwide gross box office collection, the makers said Friday. Featuring a star-studded cast of Chiyaan Vikram, Jayam Ravi, Karthi, Trisha Krishnan and Aishwarya Rai Bachchan, the Tamil historical drama hit the theatres globally on September 30. Ratnam's Madras Productions, one of the banners behind the movie, took to Twitter to share the latest box office figures. The production house posted a motion poster which stated that the film has earned over Rs 300 crore worldwide gross. "Success beyond boundaries! Thank you for this tremendous response " the Madras Productions captioned the post. Based on Kalki Krishnamurthy's 1955 historical fiction novel, "Ponniyin Selvan-I" chronicles the story of the early days of Arulmozhivarman (played by Jayam Ravi), a powerful king of the south who went on to become the great Chola emperor Rajaraja Chola I. The much-anticipated film opened to positive response from both critics and audiences. Also backed by Allirajah Subaskaran's banner Lyca Productions, "Ponniyin Selvan-I" released in Tamil, Hindi, Telugu, Kannada, and Malayalam.

Mani Ratnam's 'Ponniyin Selvan-I' crosses ₹300 crore mark worldwide

<ul><li><keyword id="6612" type="PERSON" weightage="20" keywordseo="Smriti-Irani">Smriti Irani</keyword>, Minister for Women and Child Development along with 30 participating organisations launched ‘<keyword id="8282463" type="UNKNOWN" weightage="20" keywordseo="yuwaah">YuWaah</keyword>’ — <keyword id="8282462" type="UNKNOWN" weightage="20" keywordseo="generation-unlimited">Generation Unlimited</keyword>’ — to train youth between 10 and 24 years of age. </li><li>The initiative supported by <keyword id="56000" type="COMPANY" weightage="20" keywordseo="UNICEF">UNICEF</keyword>, aims to engage over 300 million youngsters in education, skill training or employment over the next decade. </li><li>In 2018, UNICEF initiated the Generation Unlimited partnership, globally. India is one of the first countries to partner with the initiative. </li></ul>Every month a million people in India turn 18, ready to take up jobs. To help them, Smriti Irani, Minister for Women and Child Development launched ‘YuWaah’ — Generation Unlimited’. The government partnered with 30 participating to train the youth between the ages of 10 and 24. The initiative is supported by UNICEF. It aims to engage over 300 million youngsters in education, skills training or employment over the next decade. “The government is determined to make YuWaah a transformational alliance that brings a national step change in preparing young people for the transition from education to 21st century work,” Irani said at the launch. India is in dire need of skills training as its efforts have to be intensified by ten fold. Skilling needs to be much more aspirational, KP Krishnan, Secretary, Ministry of Skill Development and Entrepreneurship said. In 2018, UNICEF initiated the Generation Unlimited partnership globally. “An engineering degree has a validity of 18 months to 5 years. Hence, the youth today should learn agility — learn, unlearn and relearn. Soft skills — creativity, teamwork, growth mindset — are the future. This can only be learnt experientially, said Ravi Venkatesan, UNICEF representative. The programme is focused to create economic opportunities for 100 million youth through job matching and entrepreneurship. See also: <a href="https://www.businessinsider.in/soft-skills-can-save-your-job-from-the-machines-but-young-professionals-are-severely-short-of-it/articleshow/70243130.cms">Soft skills can save your job from the machines but young professionals are severely short of it</a> <a href="https://www.businessinsider.in/skill-india-mission-employment-rate-is-too-low/articleshow/70459576.cms">Only one in five people trained under government's Skill India Mission found jobs</a>

India will start skilling its youth starting from those who are ten years old

New Delhi, Dec 31 () Sebi on Tuesday barred four individuals of Deccan Chronicle Holdings Ltd from the securities market for two years and imposed restrictions on an auditor as well as a company secretary for manipulation of the company's financials and disclosure lapses.
 Chairman T Venkattram Reddy, Vice Chairmen T Vinayak Ravi Reddy and Parasuraman Karthik Iyer, and Managing Director N Krishnan have been restrained from the market for two years.
 Mani Oommen, Partner at C B Mouli &amp; Associates, has been barred from rendering auditing services to any listed company for one year. Company secretary V Shankar has also been directed not to provide company secretarial services to any listed company for one year, Sebi said in an order.
 The regulator found that the company manipulated its financials and made announcement for buyback of shares even in the absence of adequate reserves.
 Liabilities of Rs 2,905.32 crore and interest and finance charges of Rs 753.91 crore were diverted from the books of the firm on the last date of every accounting year and were reintroduced to the books on the next day just to avoid disclosure of the same to the public, as per the 65-page order.
 The watchdog said there would be no proceedings against Deccan Chronicle Holdings Ltd -- the publisher of Deccan Chronicle and Asian Age newspapers, among others -- taking into consideration that Hyderabad bench of the National Company Law Tribunal (NCLT) has approved a resolution plan for the company, which was also compulsorily delisted from the BSE since August 2017.
 "...actions of the noticees are replete with glaring manipulations, fraudulent intents and exaggeration of accounts to the extent that it went on for a number of years with the connivance of the company secretary and auditors.
 "Such blatant and egregious misconduct on the part of the noticees is not conducive for the integrity of the securities market and cannot be spared to be viewed leniently, rather such misconduct of the noticees deserve to be dealt with strictly," Sebi Whole-Time Director S K Mohanty said in the order.
 The noticees are the individuals.
 During the financial year 2008-09, the firm understated its outstanding loans of Rs 1,339.17 crore. The differences between the actual and reported outstanding were Rs 2,982.07 crore and Rs 3,347.41 crore in 2009-10 and 2010-11, respectively.
 Additionally, the company made a buyback announcement at a price that was 234 per cent higher than the ongoing market price.
 The company and the individuals also concealed the series of encumbrances created on the promoters' shareholding in favour of financial institutions under the garb of non-disposal undertaking which were nothing but pledge agreements signed with these institutions and also failed to make such disclosures to shareholders, the order said.
 According to Sebi, the individuals blatantly made "specious" claims about the ownership of brands such as Deccan Chronicle and Andhra Bhoomi saying that these brands were owned by Deccan Chronicle Marketers (DCM) and not by the company. This was done only to accommodate their manipulative accounting adjustments and to waive financial obligations of Rs 2,905.32 crore which DCM owed to the company, it added.
 Sebi said the company, its directors and management in cahoots with its company secretary and auditor, have manipulated the accounts by understating the liabilities and expenditure over many years from 2005-06 onwards.
 "The attempt to buyback shares of the company by the directors and promoters based on the falsely reported reserves amount despite the company actually lacking the requisite free reserves was another attempt to hoodwink innocent investors and to sell the company's misplaced false story about its strong fiscal position to its shareholder/investors," it noted.
 The four individuals have also been prohibited from holding any managerial post or being associated directly or indirectly with any listed company that intends to raise money from the public, or any intermediary registered with Sebi for two years.
 "For a period of one year, listed companies and intermediaries registered with Sebi shall not engage the Noticee 6 (V Shankar) for company secretarial services, or engage any audit firm associated with Noticee 7 (Mani Oommen) in any capacity, for issuing any certificate with respect to compliance of statutory obligations which Sebi is competent to administer and enforce, under various laws," the order said. SRS RAM HRS

Deccan Chronicle case: Sebi bars 4 individuals from securities mkt

<a href="http://www.businessinsider.in/searchresult.cms?query=virat+kohli&amp;sortorder=effectivedate">Indian cricketer Virat Kohli</a> joined the list of cricketers-turned-entrepreneurs and launched his startup- Stepathlon Kids- which addresses <a href="http://www.businessinsider.in/searchresult.cms?query=fitness&amp;sortorder=effectivedate">fitness</a> issues in kids. 
 Kohli’s startup is a joint venture with <keyword id="1084140" type="UNKNOWN" weightage="20" keywordseo="Stepathlon-Lifestyle">Stepathlon Lifestyle</keyword>, which will take children through a 30-day pedometer-based virtual race that will help increase awareness on health issues. 
 
The new venture looks to reach 50,000 children in the first year of operations. 
 
"We will generate revenues from a combination of sponsorships, partnerships, licensing and merchandising for the medium to long term," said Ravi Krishnan, CEO, Stepathlon Lifestyle. 
 
Kohli has made few investments also in fitness such as Rs 90 crore in Chisel Fitness, a Bengaluru-based fitness centre. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=startups&amp;sortorder=effectivedate">Startups</a> in health and fitness space are mushrooming as Former Myntra cofounder Mukesh Bansal and Ankit Nagori are also going to launch own ‘Cult’ in Bengaluru. 
 
"There are two sets of startups in this space, both catering to consumers in urban India - those who are aggregating the growing number of gyms and yoga clinics in cities and those who are offering mobile-based fitness solutions to consumers who are not able to make it to gyms because of time constraints," said Rutvik Doshi, Director at In ventus Capital, told ET. 
 
(Image: BCCL)

Virat Kohli has launched a startup and it is about tackling fitness issues in kids

​The growing proficiency of Indian technology companies in building innovative products is drawing a great deal of attention from global corporations eager to acquire fresh ideas and skilled workers. 
 
Applications that help ease online payments, offer security for data stored on multiple devices as well as those that help drive greater advertising revenue on mobile devices are some of the technologies on the shopping list of multinationals scouting for the right startup. In the next five years, experts say at least 40 technology ventures in India could be bought over by large corporations. 
 “Couple of them (startups) will be valued at over $1 billion (Rs 6,200 crore),” said Ravi Gururaj, an angel investor who heads the software product council at industry lobby <keyword id="6372077" type="CITY" weightage="60" keywordseo="Nasscom">Nasscom</keyword>. He expects about half a dozen technology ventures to be valued at around $500 million (Rs 3,100 crore) while <keyword id="818790" type="UNKNOWN" weightage="40" keywordseo="the-rest">the rest</keyword> will likely fetch a price of between $15 million (Rs 93 crore) and $50 million (Rs 311 crore). 
 A handful of such acquisitions has already set the ball rolling. Last November, Japanese engineering and electronics maker <keyword id="69870" type="CITY" weightage="40" keywordseo="Hitachi">Hitachi</keyword> acquired Prizm Payment Services, in a deal estimated at $250 million (Rs 1,547 crore). In mid 2013, South African media conglomerate Naspers bought online bus ticketing firm red-Bus for about $100 million (Rs 618 crore), giving it access to not only the large <keyword id="47445" type="UNKNOWN" weightage="40" keywordseo="Indian-market">Indian market</keyword> but disruptive technology as well. 
 “Multinational companies primarily look for talent and <keyword id="388837" type="UNKNOWN" weightage="40" keywordseo="intellectual-property">intellectual property</keyword> that can compete at global level,” said Prashant Gupta, group manager at Microsoft India (R&amp;D). “There are early signs in India that such companies are emerging that can meet these demands, especially in cloud-driven application lifecycle and big data,” he said. 
 
The global software maker runs an accelerator programme in India for technology startups that has graduated 22 ventures so far and is poised to make its first venture investment this year. 
 Interest from <keyword id="6355311" type="COUNTRY" weightage="40" keywordseo="Japan">Japan</keyword>ese corporations too is growing. Apart from the Hitachi deal, others such as NTT too have been active buyers. In 2012 Japan’s <keyword id="913532" type="ORGANIZATION" weightage="40" keywordseo="NTT-Communications">NTT Communications</keyword> bought a majority stake in technology firm <keyword id="423557" type="COMPANY" weightage="40" keywordseo="Netmagic">Netmagic</keyword> for about Rs 900 crore. “India is becoming the laboratory for products and services for the world,” said Krishnan Ganesh, <keyword id="36740" type="POSITION" weightage="40" keywordseo="founder">founder</keyword> of online tutoring company TutorVista that was bought by the UK’s <keyword id="152222" type="CITY" weightage="40" keywordseo="Pearson">Pearson</keyword> group at an enterprise value of about Rs 1,000 crore. 
 
After the acquisition, the number of students using the services of TutorVista has tripled to four million across both the local and the US market. Pearson now aims to replicate the TutorVista model in emerging markets such as Brazil, China and South Africa. 
 
In 2013, there were 100 merger and acquisition deals across the India’s information technology industry. Of this, 31 whose value was announced were worth $1,906 million (Rs 11,807 crore), according to research firm Venture Intelligence. 
 The trigger for this growing M&amp;A activity is the range of disruptive technology startups emerging out of India. Companies such as advertising network InMobi, data analytics company Mu Sigma and online retailer <keyword id="6354742" type="COMPANY" weightage="40" keywordseo="Flipkart">Flipkart</keyword> have achieved a scale where they are valued at over $1 billion. “This is driven by leading-edge globally competitive technologies,” said Naren Gupta cofounder and managing director of Nexus Venture Partners, an early investor in Netmagic and online retailer <keyword id="541988" type="COMPANY" weightage="40" keywordseo="SnapDeal">Snapdeal</keyword>. 
 For instance, Pune-based <keyword id="741520" type="COMPANY" weightage="40" keywordseo="Druva">Druva</keyword> provides data security and retrieval software to customers such as US space agency <keyword id="6360409" type="ORGANIZATION" weightage="40" keywordseo="NASA">Nasa</keyword>, drug maker <keyword id="44612" type="CITY" weightage="40" keywordseo="Pfizer">Pfizer</keyword> and fashion brand <keyword id="5940" type="PERSON" weightage="40" keywordseo="Louis-Vuitton">Louis Vuitton</keyword>. 
<div style="page-break-after: always;">
	&#xa0;</div> In Chennai, Perfint Healthcare has developed robots that treat cancer by precisely inserting a needle in the affected area to burn or freeze a patient’s tumour, leaving the good tissue alone. The founders, all former employees of <keyword id="166456" type="COMPANY" weightage="40" keywordseo="GE-Healthcare">GE Healthcare</keyword>, quit to launch the firm when they realised the demand for such a product. For global corporations acquiring such game-changing technologies can help them enter new markets and raise barriers against competition. 
 Two years ago, when global software maker <keyword id="183292" type="CITY" weightage="40" keywordseo="Red-Hat">Red Hat</keyword> bought Bangalore-based <keyword id="6373689" type="ORGANIZATION" weightage="40" keywordseo="Cloud-computing">cloud computing</keyword> startup <keyword id="724826" type="COMPANY" weightage="40" keywordseo="Gluster">Gluster</keyword> for around Rs 667 crore, it acquired a storage platform technology which it offered to its customers for the first time. The cost of technology infrastructure to set up such ventures and scale them up for acquisitions has also come down drastically. 
 “A bunch of guys can now launch an application from a garage, keep the tablet or a mobile phone as the front end and the product becomes viral in few weeks,” said Anand Babu Periasamy, cofounder of Gluster. A computer <keyword id="6369183" type="POSITION" weightage="40" keywordseo="Engineer">engineer</keyword> graduate from <keyword id="119675" type="ORGANIZATION" weightage="40" keywordseo="annamalai-university">Annamalai University</keyword>, Periasamy who now works at Red Hat is aiming to build Gluster into a billion dollar business unit. 
 
Experts hope small-size technology ventures in India will also attract the attention of larger firms. “Smaller exits are the life blood for healthy startup ecosystems like in <keyword id="6355882" type="COUNTRY" weightage="40" keywordseo="israel">Israel</keyword> and US,” said Sharad Sharma co founder of software product think-tank iSpirt. Sharma is running an active M&amp;A Connect Program at iSpirt that is curating a list of several dozen companies. 
 Some of those on the radar are retail services software maker Capillary Technologies, healthcare applications provider <keyword id="1165142" type="UNKNOWN" weightage="40" keywordseo="Practo">Practo</keyword> and security software maker <keyword id="171228" type="COMPANY" weightage="40" keywordseo="Quick-Heal">Quick Heal</keyword>. According to Sharma, many of them have shown healthy growth traction and are attractive for strategic partnerships. 
 Sharma of iSpirt is of the view that a larger proportion of bootstrapped companies is stymieing merger activity in India. “It is harder for large corporations when there is no validation from <keyword id="6357097" type="COMPANY" weightage="40" keywordseo="venture-capital">venture capital</keyword> firms,” he said. 
 The other major problem say experts is that large Indian firms such as Infosys, <keyword id="10862" type="CITY" weightage="40" keywordseo="Wipro">Wipro</keyword> and <keyword id="6357150" type="CITY" weightage="40" keywordseo="TCS">TCS</keyword> have shied away from making any such purchases, despite having huge cash reserves. Infosys has $4 billion (Rs 24,000 crore) cash reserves. 
 
“When Wipro can be in soaps and vegetable oil, why can’t they be in the Flipkarts of the world,” said Ganesh of TutorVista. “They are sitting on a huge cash reserve and not a fraction has been spent on startups. That mentality is not there.” 
 
“Over the next five years, I expect that quantity will dramatically improve and we can be optimistic about merger and acquisition activity out of India,” said Nasscom’s Gururaj.

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IPL; Scams helped this game to become more popular

Purba Das

Mani Ratnam's 'Ponniyin Selvan-I' crosses ₹300 crore mark worldwide

PTI

India will start skilling its youth starting from those who are ten years old

Prerna Sindwani

Deccan Chronicle case: Sebi bars 4 individuals from securities mkt

PTI

Virat Kohli has launched a startup and it is about tackling fitness issues in kids

BI India Bureau

Indian startups' global competitiveness and innovation make them acquisition targets

Economic Times

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