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The <keyword id="6355014" type="General" weightage="20" keywordseo="delhi-high-court" source="Orion">Delhi High Court</keyword> on Thursday granted bail to <keyword id="13154993" type="General" weightage="20" keywordseo="Chitra-Ramkrishna" source="Orion">Chitra Ramkrishna</keyword> in the <keyword id="500410" type="General" weightage="20" keywordseo="money-laundering-case" source="Orion">money laundering case</keyword> related to alleged <keyword id="16434436" type="General" weightage="20" keywordseo="illegal-phone-tapping-and-snooping" source="Orion">illegal phone tapping and snooping</keyword> of the National Stock Exchange (NSE) employees. "The application is allowed. The applicant is granted bail," said Justice Jasmeet Singh. The former NSE managing director, who was earlier arrested by the CBI in the alleged NSE co-location scam, was arrested in the present case by the Enforcement Directorate on July 14 last year. She was granted bail in the CBI case by the high court in September last year. The Enforcement Directorate (ED) had opposed her bail plea in the present case on grounds that she was the "mastermind" behind the conspiracy. The phone tapping case, according to the ED, pertains to a period from 2009 to 2017 when former NSE CEO Ravi Narain, Ramkrishna, Executive Vice-President Ravi Varanasi, and Head (Premises) Mahesh Haldipur and others conspired to cheat NSE and its employees and for the purpose, engaged iSEC Services Pvt Ltd for illegal interception of phone calls of employees of the NSE in the guise of doing periodic study of cyber vulnerabilities of the NSE. Seeking bail, Ramkrishna had argued that no scheduled offence was made out against her and the allegations also did not fall within the rigours of the Prevention of Money Laundering Act . Ramkrishna was appointed as Joint MD NSE in 2009 and remained in the position till March 31, 2013. She got elevated as MD and CEO on April 1, 2013. Her tenure at NSE ended in December 2016. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/commercial-ev-distribution-start-up-turno-raises-13-8-million-from-b-capital-others/articleshow/97758281.cms">Commercial EV distribution start up Turno raises $13.8 million from B Capital &amp; others</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/shares-of-alphabet-fall-8-pc-after-google-rollout-of-ai-search-features/articleshow/97755747.cms">Shares of Alphabet fall 8 pc after Google rollout of AI search features</a>

Delhi HC grants bail to Chitra Ramkrishna in money laundering case

<ul><li>Delhi Police has filed an FIR against former <keyword id="7349800" type="General" weightage="80" keywordseo="bharatpe" source="Orion">BharatPe</keyword> co-founder Ashneer <keyword id="3433" type="General" weightage="100" keywordseo="grover" source="Orion">Grover</keyword>, his wife <keyword id="10739150" type="General" weightage="50" keywordseo="madhuri-jain" source="Orion">Madhuri Jain</keyword> Grover.</li><li>The FIR, a copy of which has been seen by PTI, was filed under eight sections of the Indian Penal Code, including 406 that deals with criminal breach of trust, 420 (cheating and dishonesty), 467 and 468 (forgery).</li></ul>New Delhi, The Economic Offences Wing of the Delhi Police has filed an FIR against former BharatPe co-founder Ashneer Grover, his wife Madhuri Jain Grover and family members Deepak Gupta, <keyword id="346867" type="General" weightage="50" keywordseo="suresh-jain" source="Orion">Suresh Jain</keyword> and Shwetank Jain for an alleged Rs 81 crore fraud after a complaint by the fintech unicorn. The FIR, a copy of which has been seen by PTI, was filed under eight sections of the Indian Penal Code, including 406 that deals with criminal breach of trust, 420 (cheating and dishonesty), 467 and 468 (forgery). BharatPe in the complaint alleged that Grover and his family caused damages of about Rs 81.3 crore through illegitimate payments to bogus human resource consultants, inflated and undue payments through passthrough vendors connected to the accused, sham transactions in input tax credit and payment of penalty to GST authorities, illegal payment to travel agencies, forged invoices by Madhuri Jain and destruction of evidence. If convicted, Grover, Madhuri and others can face up to anything between 10 years to life imprisonment. EOW now has the power to arrest all the accused. BharatPe welcomed the registration of FIR saying, "For the last 15 months, the company has been facing a vicious and malicious campaign run by Grover against the company, the board and its employees". "The registration of the FIR is a step in the right direction, which unearths various suspicious transactions made by the family for their personal pecuniary gains," it said in a statement. The FIR, it said, will now enable law enforcement agencies to investigate deeper into the criminality and bring the culprits to books. "We have full faith in our country's judicial and law enforcement systems and are optimistic that this case will reach its logical conclusion. We will continue to extend all possible cooperation to the authorities," it added. In December 2022, BharatPe filed a criminal complaint against Grover and his family with the EOW of Delhi Police, alleging fraud of Rs 81.28 crore, criminal breach of trust, conspiracy, cheating, forgery and destruction of evidence. The same month, it also filed a civil suit with the Delhi High Court against its former MD and co-founder Grover and his family, seeking up to Rs 88.67 crore in damages for alleged cheating and embezzlement of funds. The suit, running into 2,800 pages, alleges that Grover, his wife Madhuri Jain and other family members created fake bills, enlisted fictitious vendors to provide services to the company and overcharged the company for recruitment. Madhuri Jain was the head of controls at BharatPe and was fired earlier in 2022 after a forensic audit revealed several irregularities. Subsequently, Ashneer Grover resigned as CEO in March 2022. BharatPe, last year, hit the headlines when Grover was accused of using inappropriate language and threatening a Kotak Group employee for failing to secure an allotment and funding for the Nykaa IPO for himself and his wife Madhuri Jain Grover. Thereafter, BharatPe appointed Alvarez and Marsal, Shardul Amarchand Mangaldas and PwC to conduct a corporate governance review and determine whether Grover had committed willful misconduct. This led to the ouster of Jain and Grover from the company and its board in March. On May 10, 2022, BharatPe said that after the detailed review, the company had decided to take steps against employees involved in misconduct and claw back Ashneer Grover's restricted shares. "The complaint was received at EOW and enquiry has been conducted into the allegations levelled against alleged persons. From the contents of the complaint and enquiry conducted so far, prima-facie offences punishable under Sections 406/408/ 409/420/467/468/471/120B IPC (Indian penal code) are made out," the FIR copy reads. BharatPe had filed an arbitration claim in Singapore to claw back restricted shares (1.4 per cent) allotted to Grover and prevent him from using the title of a founder. In January this year, Koladiya sued Grover reclaiming the shares transferred in December 2018. Last month, the company's co-founder <keyword id="10222571" type="General" weightage="50" keywordseo="shashvat-nakrani" source="Orion">Shashvat Nakrani</keyword> sued Grover over "unpaid shares". MZM Legal is advising BharatPe on the criminal complaint. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/is-whatsapp-secretly-listening-to-your-private-conversations-heres-how-to-check/articleshow/100155980.cms">Is WhatsApp secretly listening to your private conversations? Here’s how to check</a> <a href="https://www.businessinsider.in/tech/news/artificial-intelligence-takes-center-stage-at-google-i/o-here-are-all-the-ai-announcements-made-at-the-annual-conference/articleshow/100151380.cms">Artificial Intelligence takes center stage at Google I/O: Here are all the AI announcements made at the annual conference</a>

FIR against BharatPe co-founder Ashneer Grover, his wife, family

<ul class="summary-list"><li>Paranoid <keyword id="12906024" type="UNKNOWN" weightage="60" keywordseo="personality" source="Orion">personality</keyword> disorder (PPD) causes extreme suspicion and fear of others.</li><li>People with PPD may falsely believe that others are lying, cheating, or exploiting them.</li><li>PPD may develop because of genetics, life experiences like abuse, or other <keyword id="11902572" type="UNKNOWN" weightage="60" keywordseo="mental-health" source="Orion">mental health</keyword> conditions. </li></ul>Paranoid personality disorder (PPD) is a mental <keyword id="11894571" type="UNKNOWN" weightage="100" keywordseo="health" source="Orion">health</keyword> condition that can cause extreme mistrust and fear of other people, according to the <a href="https://www.merckmanuals.com/professional/psychiatric-disorders/personality-disorders/paranoid-personality-disorder-ppd" target="_blank" rel="noopener">Diagnostic and Statistical Manual of Mental Disorders</a>.PPD is somewhat rare —<a href="https://www.merckmanuals.com/professional/psychiatric-disorders/personality-disorders/paranoid-personality-disorder-ppd" target="_blank" rel="noopener"> between 2.3% and 4.4%</a> of Americans are thought to have the condition.There is still very little research on paranoid personality disorder and the best way to treat it, but some types of psychotherapy may help.Here are the most common symptoms of PPD and the best way to manage it.<h2>What is paranoid personality disorder?</h2>"People with this diagnosis tend to be suspicious and mistrustful of other people, tense and nervous in social situations, and on the lookout for threat," says<a href="https://www.psychology.uzh.ch/en/areas/sob/perspsy/team/hopwood.html" target="_blank" rel="noopener"> Chris Hopwood, PhD</a>, a professor of psychology at University of Zurich.They tend to have trouble keeping up friendships and romantic connections, and may be easily insulted or offended."People with PPD are outwardly hostile and may seem aloof" because they experience relationships as a source of stress, says<a href="https://psychiatry.uchicago.edu/faculty/royce-lee-md" target="_blank" rel="noopener"> Royce Lee, MD</a>, a professor of psychiatry and behavioral neuroscience at the University of Chicago.Some of the<a href="https://my.clevelandclinic.org/health/diseases/9784-paranoid-personality-disorder" target="_blank" rel="noopener"> common symptoms of PPD</a> include:<ul><li>Believing that other people are lying or exploiting them</li><li>Holding grudges or refusing to forgive</li><li>Being overly sensitive to criticism</li><li>Being afraid to reveal any personal information to other people</li><li>Falsely thinking that other people are insulting them</li><li>Always suspecting that their partner is cheating on them</li><li>Assuming there are hidden meanings in other people's casual remarks or looks</li><li>Having a hard time relaxing</li><li>Being easily angered and quick to argue</li></ul>People with PPD have a hard time connecting with other people, but that doesn't mean they're dangerous. "They can be prone to anger, but are not necessarily violent," Lee says.<h2>The causes of paranoid personality disorder</h2>There are several different factors that can put you at greater risk of developing paranoid personality disorder. This includes:Genetics: The disorder tends to<a href="https://www.merckmanuals.com/professional/psychiatric-disorders/personality-disorders/paranoid-personality-disorder-ppd" target="_blank" rel="noopener"> run in families</a> and you may be more likely to develop PPD if you have family members with<a href="https://my.clevelandclinic.org/health/diseases/9784-paranoid-personality-disorder" target="_blank" rel="noopener"> schizophrenia or delusional disorder</a>.Certain life experiences: "It seems likely that experiences in which a person learns that they cannot trust important people in their environment may be factors," Hopwood says.According to Lee, some experiences that are linked to PPD include:<ul><li>Experiences of racism</li><li>Poverty</li><li>Immigration</li><li><a href="https://www.merckmanuals.com/professional/psychiatric-disorders/personality-disorders/paranoid-personality-disorder-ppd" target="_blank" rel="noopener">Childhood abuse</a></li></ul>Other mental health conditions: In most cases, people with PPD will also have<a href="https://www.merckmanuals.com/professional/psychiatric-disorders/personality-disorders/paranoid-personality-disorder-ppd" target="_blank" rel="noopener"> another mental health diagnosis</a>. Commonly linked disorders include:<ul><li><a href="https://www.insider.com/do-i-have-ptsd" target="_blank" rel="noopener">Post-traumatic stress disorder</a></li><li><a href="https://www.insider.com/what-is-anxiety" target="_blank" rel="noopener">Anxiety disorders</a></li><li>Schizophrenia</li><li>Other <keyword id="13082598" type="UNKNOWN" weightage="60" keywordseo="personality-disorders" source="Orion">personality disorders</keyword></li></ul><h2>Diagnosis and treatment</h2>"Paranoid personality is ideally diagnosed with standardized questionnaires or interviews, based on criteria in the diagnostic manual (DSM-5)," Hopwood says.An important part of this process is to differentiate between PPD and other disorders that have similar symptoms, says Hopwood. For example:<ul><li>PPD vs. anxiety: PPD is different from anxiety because the feelings of paranoia are always present, not just in certain situations.</li><li>PPD vs. schizophrenia: PPD is different from psychotic disorders like schizophrenia because there are no hallucinations or delusions. This is an important distinction, because PPD is treated with psychotherapy, while schizophrenia requires medications, Lee says.</li></ul>However, it's important to note that there is very little research on what qualifies as PPD. In fact, "many clinicians do not think of paranoid personality disorder as a valid category or diagnosis," Hopwood says.We also have little scientific evidence about the best way to treat PPD, though some experts believe that therapy can help. In particular, some may use<a href="https://www.merckmanuals.com/professional/psychiatric-disorders/personality-disorders/paranoid-personality-disorder-ppd" target="_blank" rel="noopener"> cognitive-behavioral therapy</a>, an approach that aims to challenge problematic thoughts and shift behaviors.There are no medications that can fully treat PPD, but certain<a href="https://www.merckmanuals.com/professional/psychiatric-disorders/personality-disorders/paranoid-personality-disorder-ppd" target="_blank" rel="noopener"> antipsychotic medications</a> may help treat anxiety symptoms.<h2>Insider's takeaway</h2>Paranoid personality disorder can cause intense distrust of other people and may make having close relationships very difficult. If you think you may have symptoms of PPD, reach out to a mental health provider to find a treatment plan that works for you.

If you know someone who is always suspicious and holds grudges, they may have PPD

<ul><li>Shares of Bharti Airtel jumped by 10% hitting a new 52-week high of ₹591.85, despite the telco reporting an unexpected quarterly loss.</li><li>However, Airtel noted that the unexpected loss was due to adoption of Ind AS 116 from April 1, 2019, which relates to leased assets and their accounting.</li><li>Its revenues for the March 2020 quarter grew by more than 15% compared to the same period last year, suggesting that there is healthy growth despite the COVID-19 headwinds.</li></ul>The share price of Bharti Airtel jumped by 10% even as the company posted an unexpected quarterly loss of ₹5,237 crore in the fourth quarter ended fiscal year 2020. The Airtel stock hit a 52-week high in the process, continuing its rally in May with an overall increase of almost 10% in 13 trading sessions. At the time of writing, the Airtel share price was at ₹591.85. <div type="image" title="Airtel share price" msid="75818794" hostid="261" caption="&amp;lt;p&amp;gt;Airtel share price in May 2020&amp;lt;/p&amp;gt;"></div> Airtel's loss was mainly on account of making provision for paying statutory dues. The company, which had posted a profit of ₹107 crore in the same period a year ago, said it is monitoring the COVID-19 pandemic situation closely to identify key risks, and taking immediate actions to minimise any potential disruption to business. <table><tbody><tr><td>Particulars (for March, 2020 quarter)</td><td>Amount in ₹ crore</td></tr><tr><td>Consolidation revenue</td><td>23,722.7</td></tr><tr><td>Net profit/loss before exceptional items</td><td>-471</td></tr><tr><td>Net profit/loss after exceptional items</td><td>-5,237</td></tr></tbody></table> The company posted revenue of ₹20,602.2 crore in the corresponding quarter of 2018-19. Airtel's statement said that March 2020 numbers are not comparable with prior period due to adoption of Ind AS 116 with effect from April 1,2019. <div type="Article" hostid="261" msid="75533860" title="Airtel shares set for a catch up rally after Reliance Jio takes a huge valuation lead" mstype="2" mssubtype="0"></div> Airtel posted exceptional items totalling ₹7,004 crore during the quarter ended March 31, 2020. This includes charges on account of reassessment of regulatory cost based on a recent order on one time spectrum charge, interest on provision of license fee and spectrum usage charges, and other heads. Citing the Adjusted Gross Revenue (AGR) liability case, the company said during the quarter the group has further recorded interest of ₹870.6 crore, which has been presented as exceptional item. The total capital expenditure for the just ended quarter stood at ₹11,339 crore. For the full year ended March 31, 2020, the company posted a net loss of ₹32,183.2 crore and revenue of ₹87,539 crore. At the end of FY 2019, Bharti Airtel had reported net profit of ₹409.5 crore and revenue of ₹80,780.2 crore. Bharti Airtel's MD and CEO, India &amp; South Asia, Gopal Vittal, said, "These are unprecedented times for every one across the world as we battle the impact of COVID-19 and its consequent impact on livelihoods." He added that telecom has played essential role in keeping the country going during the pandemic, and hoped that government would implement recommendations of the regulator and bring down the levies and taxes that the sector is subjected to. Bharti Airtel said the company has undertaken a capex investment of ₹25,359 crore during the year to ensure strong customer experience besides front-ending some investment to ensure seamless services during the ongoing pandemic. Bharti Airtel said its overall customer base stands at 423 million across 16 countries. Notably, its average revenue per user - a key metric for telecom companies - was at ₹154 against ₹123 in year ago period, and ₹135 in December quarter. "India revenues for Q4'20 at ₹17,438 crore have increased by 14.4% YoY on a reported basis. Mobile revenues have witnessed a year on year growth of 21.8% primarily led by increase in 4G customer base coupled with improved tariffs," the statement said. The company said that in line with its policy of passing through dividends received from Infratel, the Board of Directors has recommend a dividend of Rs. 2 per share for FY 2019-20, subject to shareholders' nod. Consolidated net debt (including lease obligations) was pegged at ₹1,18,859 crore. With inputs from PTI. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/indigo-spicejet-adani-gmr-gvk-share-price-may-gain-after-civil-aviation-reforms/articleshow/75775888.cms">Indigo and Spicejet get shorter routes, cheaper fuel bills while Adani, GMR, and GVK get more airport projects to bid for</a> <a href="https://www.businessinsider.in/india/news/hindalco-jspl-coal-india-companies-that-will-benefit-from-nirmala-sitharamans-reforms/articleshow/75775443.cms">Hindalco, JSPL, Adani, Coal India, and many more stocks that can benefit from India’s sweeping reforms in coal and mineral sector</a> <a href="https://www.businessinsider.in/science/space/news/lt-and-godrej-join-like-boeing-and-lockheed-martin-ula-after-biggest-space-reform/articleshow/75778037.cms">"Now, L&amp;T and Godrej can join hands like Boeing and Lockheed Martin’s ULA," says Gateway House scholar cheering India’s 'biggest space reform'</a> <a href="https://www.businessinsider.in/business/corporates/news/indian-firms-can-now-directly-list-in-foreign-markets-there-are-a-few-more-big-changes-to-companies-act/articleshow/75785648.cms">Indian firms can now directly list in foreign markets – there are a few more big changes to Companies Act</a>

Airtel shares jump by 10% despite an unexpected quarterly loss

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="https://www.youtube.com/watch?v=xftlqWsHIFM">NBCUniversal Television Distribution</a>Bad habits can seriously mess up your career.</div></div></div>Bad habits may not seem like a big deal on their own, but sometimes they can seriously drag you down in your life and career.Of course, no one is perfect. In most cases, bad habits only result in relatively minor problems. So if you recognize one of these compulsions as your own, you probably have nothing to worry about.However, in more extreme cases, certain tendencies can actually thwart you dreams of success.Here are the top 11 habits of unsuccessful people:<h2>1. You keep your mouth shut</h2>You keep your head down. You don't speak out. You don't get out of line.Your aversion to putting yourself out there professionally may seem like a good protective measure, but it's holding you back.If you feel like your current work environment actively discourages people from sticking their necks out for fear of reprisal, you may be dealing with a toxic work environment. If you're just psyching yourself out, though, you've fallen into a terrible habit.<h2>2. You're always tardy</h2>Sure, things happen, but consistent tardiness is typically unacceptable in a professional setting. Showing up late makes you look careless and unreliable.As Laura Schocker <a href="http://www.huffingtonpost.com/2013/11/07/psychology-lateness_n_4229057.html">wrote for the Huffington Post</a>, one San Francisco State University study linked " chronic lateness and certain personality characteristics, including anxiety, low self-control and a tendency toward thrill-seeking."<h2>3. You hold grudges</h2>You don't need to walk around singing kumbaya. It's fine and normal to dislike and distrust certain people in your life.But holding intense grudges is just a waste of your valuable time and energy. <a href="http://www.webmd.com/depression/news/20000225/holding-a-grudge-can-be-bad-for-your-health#1">In an article for Web MD</a>, Mike Fillon cited one Hope College study that found that holding a grudge can even have negative health effects.So learn to let things go.<h2>4. You conform</h2>Conforming was a survival tactic in middle school, but you're an adult with a career now. Stop caring intently about what others think and falling in line just for the sake of getting along. Do what works for you.If you devote all your time to blending in, you'll never stand out.<h2>5. You overspend</h2>If money's always burning a hole in your pocket, you're setting yourself up for longterm financial woes. Saving money is crucial for your financial future.Beat this habit by learning to identify <a href="http://www.businessinsider.com/here-are-the-most-common-overspending-triggers-and-how-to-manage-them-2014-8">psychological triggers for overspending</a>.<h2>6. You procrastinate</h2>I'll tell you all about the downsides of procrastination later.Just kidding. Seriously, though, indecisiveness could lose you time, <a href="http://www.businessinsider.com/procrastination-keeping-you-from-getting-rich-2016-3">money</a>, and even the respect of those around you.<h2>7. You lie</h2>This one's pretty simple. Be honest. It's easy to fall into the trap of weaving small untruths that stretch into bigger and bigger lies. Break that habit.Yeah, there are horror stories about <a href="http://www.businessinsider.com/10-signs-someone-is-lying-to-you-2016-8">cheats and liars</a> who schemed their way to the top. But that doesn't mean you should develop a dishonest streak yourself.<h2>8. You whine</h2>Complaining is like a competitive sport for some people. Everyone has gripes. Plus, bottling things up isn't a good thing. Sometimes, it's good to air your grievances and make yourself heard. Just don't be the person who never stops grumbling about trivial matters in the office.<h2>9. You burn bridges</h2>Listen, in life and your career, it's necessary to burn some bridges, if the person on the other side is toxic. However, those cases should be the exception, not the rule. As you move through different phases of your career, don't alienate the people you come into contact with.That could seriously come back to bite you if you cross paths with them later on.<h2>10. You don't take care of yourself</h2>You could have all the success in the world, but it won't mean much for long if you don't maintain your health. Don't allow stress to drive you to neglect exercise, <a href="http://www.businessinsider.com/gaining-weight-at-work">eat poorly</a>, and neglect yourself. Sooner or later, those choices will catch up to you and might just derail your life.<h2>11. You have bad body language</h2>Body language makes a big difference in how people perceive us - it's often more important than what you verbally say.That's why <a href="http://www.businessinsider.com/worst-body-language-mistakes-job-seekers-make-2016-9">bad body language habits </a>- like <a href="http://www.businessinsider.com/worst-body-language-mistake-2016-10">poor eye contact</a> and slumping posture - are so damaging. You could be sabotaging your opportunities before you even open your mouth. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/simple-trick-prevent-morning-breath-2016-9">A simple nighttime habit that can prevent bad morning breath</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="wxb3AwNjE6Zi_Cdp550sVWZwrWewVcDI" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

11 habits of unsuccessful people

As part of cutting costs across the world to clean up the <a href="http://www.businessinsider.in/searchresult.cms?query=emissions+scandal&amp;sortorder=effectivedate">dieselgate</a> mess, German maker <a href="http://www.businessinsider.in/searchresult.cms?query=volkswagen&amp;sortorder=effectivedate">Volkswagen</a> has warned its factory workers in India of potential job losses. 
 "This is the time for survival of the fittest," the management of its Indian subsidiary told employees in a letter earlier this month. "If targets aren't met, the company may have to do away with extra workforce at the Chakan, <keyword id="2094" type="COMPANY" weightage="20" keywordseo="Pune">Pune</keyword>, plant," it said. 
 
This may also affect all its future investments in India. 
 
The letter, that ET has seen,was signed by India Managing Director Andreas Lauermann and Executive Director-HR Patrick Masson. 
 
Responding to ET's queries, Lauermann said the company is affected by the global crisis. "In this light, we have to act efficiently and use every resource wisely," he said in an email. 
 
He, however, downplayed the risk of job cuts, saying the plant recently added a third shift and as an employer it is the organisation's duty to ensure that the jobs are safeguarded, even in difficult times. 
 <keyword id="6361865" type="CITY" weightage="100" keywordseo="Volkswagen">Volkswagen</keyword> has agreed to repurchase or fix about half a million vehicles in the US in an effort to tide over the scandal over using secret software to cheat exhaust emission tests. This cleanup act is estimated by some to cost as much as $10 billion. Cutting cost is one way to raise resources. 
 
The troubles may spill over to India as the management told employees to brace up for the challenge as the Indian plant is "not in a strong position lace, either". The Chakan factory employs more than 4,000 people. 
 
The India unit exports more than 50,000 units a year to Mexico, a market where it recently lost out on 2,900 units to Volkswagen's Kaluga plant in Russia. With local sales remaining weak, the Chakan factory is surviving primarily on exports. Any dent to its numbers in a key export market like Mexico, even from another Volkswagen plant in a different country, will be a huge risk to the India manufacturing operations. 
 
In the letter, the company said if the India unit loses any more production, its financial situation will come under the scanner and the operation may be questioned globally. 
 
"It could eventually force us to come down from three shift operation to two and, in worst case, to a single shift operation. Needless to say, this will directly have an effect on our jobs here at the Pune plant, since a single shift production will require considerably lesser workforce," it said. 
 
"This situation will withhold all our future investments and may also endanger the launch of our new compact sedan that is scheduled in the second half of 2016." Apart from looking at improving efficiency year on year, the company is accelerating localisation. 
 
It has also been sending out a tough message to component suppliers. "If the schedules are not met and if it impacts the production, the vendor will be held accountable with a penalty, which can range in several hundred euros said one of the people in the know. 
 
This was the second round of communication with the employees after a February 2016 staff meet where the management talked about issues of losing production to Russia and emphasised on maintaining quality, high standard of discipline and code of conduct. 
 While the <keyword id="3076065" type="UNKNOWN" weightage="20" keywordseo="dieselgate">dieselgate</keyword> did hurt the brand globally, the <keyword id="143605" type="UNKNOWN" weightage="20" keywordseo="Chakan-plant">Chakan plant</keyword> has been ramping up production thanks to export demand and the upcoming compact sedan, Ameo. Volkswagen added a \third shift to its operation and hired 800 more people. On March 29, the company crossed a critical milestone of 500 <keyword id="20632" type="ORGANIZATION" weightage="20" keywordseo="Cars">cars</keyword> per day at the India factory. 
 
Volkswagen said given the environment, it is extremely critical for each plant to show profitability to sail through this difficult time. 
 
"There is already cut-throat competition in the automotive world and then there is some more across company's different plants within VW world to grab every opportunity and to get more production volumes and utilise the respective production capacity in a better way," the letter said. 
 In India, where the company was eyeing double-digit growth in the fiscal year ended on March 31, 2016, saw sales slide after September as the <keyword id="3067239" type="UNKNOWN" weightage="20" keywordseo="emissions-scandal">emissions scandal</keyword> hit the brand. Local sales fell 9% to 41,096 units last fiscal year. 
 
Exports, however, grew 17% to 75,000 vehicles. VG Ramakrishnan, MD at consultancy firm Avanteum Advisor, said since the domestic plant is making money due to exports, it is highly unlikely that there will be any adverse decision taken on it because of global crises. 
 
"But the domestic operation will continue to struggle due to lack of any new volumes product. I fear that VW India will go the GM way and may become a niche player," he said. 
 
Image credit: Indiatimes

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