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Capitalism may have a lot of ramifications, but one very pervasive side-effect to the system is eye-bags. Many a man — and woman — has had to trade their valued sleep-time for coin, after all. But what if there was a way to get paid FOR sleeping? In 2023, <keyword id="22966515" type="General" weightage="20" keywordseo="saishwari-patil" source="keywords">Saishwari Patil</keyword>, an auditor based in Bengaluru, clinched the title of ‘<keyword id="22966518" type="General" weightage="20" keywordseo="sleep-champion-of-the-year" source="keywords">Sleep Champion of the Year</keyword>’ and took home a prize of INR 9 lakh. But how? <keyword id="21339903" type="General" weightage="20" keywordseo="wakefit" source="keywords">Wakefit</keyword> has been hosting a “Sleep Internship” for a while now, drawing attention from across the country. The company calls upon applicants to participate in their program for 60 days where they’re mostly expected to hit the 9-hour sleep KPI, take power naps and test a new Wakefit mattress. And suffice to say that last year’s competition was intense. First, the winner had to get selected from a massive pool of 5 lakh applicants vying for a spot in the <keyword id="22966519" type="General" weightage="100" keywordseo="wakefit-sleep-internship" source="keywords">Wakefit Sleep Internship</keyword>. After that, they had to compete with 11 other participants that were shortlisted — all of whom were paid a stipend of Rs 1 lakh. Over the course of the 2-month-long program, these sleep interns logged a combined total of 7,000 hours of sleep, with their progress monitored and evaluated based on their sleep efficiency. The competition reached its peak with a live “sleep-off,” where the top four finalists slept in custom sleep pods, competing for the ultimate prize. And Saishwari emerged victorious with a remarkable sleep efficiency score of 99%, securing her position as the season’s top sleeper. <div type="Article" hostid="261" msid="112794594" title="The former Twitter director who went viral for sleeping in the office was deeply concerned about employee burnout" mstype="2" mssubtype="0"></div>The Wakefit <keyword id="22966514" type="General" weightage="20" keywordseo="sleep-internship" source="keywords">Sleep Internship</keyword> is not just a quirky contest; it’s also a part of the company’s broader mission to address a growing issue in India. According to the Great Indian Sleep Scorecard 2024, nearly 50% of Indians wake up feeling tired, with factors like long working hours, stress, and poor sleep environments contributing to widespread sleep deprivation. By creating the Sleep Internship, Wakefit aims to shine a light on the importance of <keyword id="20334530" type="General" weightage="20" keywordseo="quality-sleep" source="keywords">quality sleep</keyword> and encourage people to prioritise rest in their daily lives. The internship is a tongue-in-cheek way to promote better sleep habits, offering participants not just money, but also insights into improving their <keyword id="20760931" type="General" weightage="20" keywordseo="sleep-health" source="keywords">sleep health</keyword>, the company said. The good news is that you may have a chance at being crowned the next <keyword id="22966517" type="General" weightage="20" keywordseo="sleep-champion" source="keywords">Sleep Champion</keyword> of the Year! Building on the success of the previous seasons, Wakefit has already opened registrations for the fourth edition of its Sleep Internship. This time, the stakes are even higher, with the winner standing to earn up to Rs 10 lakh! Wakefit promises that this season will be more engaging than ever, with participants receiving a state-of-the-art Wakefit mattress and advanced sleep tracker. Additionally, the interns will undergo a series of sessions with sleep experts, fitness professionals, and wellness coaches, all aimed at enhancing their sleep quality. As the conversation around sleep continues to evolve, this initiative, while playful, underscores a critical message: quality sleep is not just a luxury, but a necessity for overall well-being. In the meantime, candidates interested in the program can fill in their entries <a href="https://www.wakefit.co/sleepintern/">here</a>. <div type="Article" hostid="261" msid="95275829" title="Wakefit.co announces &amp;#39;No Questions Asked&amp;#39; wellness leave policy for staff" mstype="2" mssubtype="0"></div>

A Bengaluru auditor earned Rs 9 lakh just for sleeping, and here’s how you can too!

<ul><li>New deal saved 2.86% for the Indian exchequer, says India's federal auditor.</li><li>Latest report tabled in the Parliament will help Modi in fighting corruption charges from the opposition.</li><li>Opposition had hoped to corner the Modi government over the controversial defence deal.</li></ul> The Narendra Modi government struck a better deal than the Congress, that's the verdict from the <keyword id="6379775" type="UNKNOWN" weightage="20" keywordseo="Comptroller-and-Auditor-General-of-India">Comptroller and Auditor General of India</keyword> (CAG), the country's federal auditor, which tabled its report on the controversial 2015 deal to buy 36 Rafale jets from French company Dassault, according to news reports. "Compared to the 126 aircraft deal, India managed to save 17.08% money for the India-specific enhancements in the 36 Rafale contract," news agency ANI said, adding that,"the delivery schedule of the first 18 Rafale aircraft is better than the one proposed in the 126 aircraft deal, by five months." However, the full price of the jets have been redacted in the report based on the insistence of the Defence Ministry citing the Indo-French agreement of 2008 and the provisions of inter-government agreement, another news agency IANS reported. In April 2015, Prime Minister Narendra Modi had announced that India will buy 36 French-manufactured Rafale fighter jets off-the-shelf. This was a departure from the original plan, under the previous regime, under which India would buy 18 off-the-shelf jets and another 108 would be assembled by the state-run Hindustan Aeronautics Limited or HAL in Bengaluru. Modi , however, intervened and decided to buy 36 "ready-to-fly" fighters instead of trying to acquire technology from Dassault and make it in India. "A Defence Ministry team in March 2015 recommended the scrapping of the 126 Rafale deal saying that Dassault Aviation was not the lowest bidder and EADS (European Aeronautic Defence &amp; Space Company) was not fully compliant with the tender requirements," the CAG report said according to ANI. The opposition parties had cornered the incumbent Modi government alleging that the ₹590 billion deal was more expensive and it included kickbacks. It was also said that the deal was made to help Anil Ambani, whose Reliance Naval and Engineering was reportedly brought in to support Dassault. Both entities have denied this. Modi also faced a direct <a href="https://twitter.com/INCIndia/status/1093733762104524800/photo/1?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1093733762104524800&amp;ref_url=https%3A%2F%2Fwww.hindustantimes.com%2Findia-news%2Fdefence-ministry-note-proves-pm-bypassed-negotiations-with-france-on-rafale-deal-rahul%2Fstory-EUd4UAbFWTQ9lX6XODsLkM.html" data-type="tilCustomLink" target="_blank">charge</a> after news reports revealed that the Prime Minister's Office had intervened in the deal negotiations and in fact, dismissed the apprehensions of its own Defence Ministry. The latest report from CAG will be a big blessing for Prime Minister Narendra Modi who will be seeking re-election in the upcoming summer. However, the opposition was already prepared. Prior to the release of the report, the Congress party had pre-emptively dismissed the findings of the report, explaining that Rajiv Mehrishi, the current Comptroller and Auditor General of India, took part in the deal’s negotiations.

CAG report on Rafale deal is a blessing for Modi government

New Delhi, The corporate affairs ministry has asked its field officers to expedite the inspection of the books of BYJU'S and submit the report, a senior official said on Monday as trouble continues to brew at the edtech firm. The ministry, which is implementing the companies law, will decide the further course of action after receiving the report from its <keyword id="20050745" type="General" weightage="20" keywordseo="regional" source="keywords">regional</keyword> office. In July 2023, the ministry had asked the office of the Regional Director in Hyderabad to conduct an inspection of the company Think &amp; Learn Pvt Ltd, which is registered in Bengaluru. Think &amp; Learn Pvt Ltd operates under the brand BYJU'S. On Monday, the senior official said the ministry has sought to expedite the inspection and submission of the report with respect to BYJU's. Specific details about the inspection could not be immediately ascertained. Last year, the minister ordered the inspection in the wake of various developments at that time at the edtech company, including its inability to finalise the statements and resignation of auditor. The Institute of Chartered Accountants of India (ICAI) is also looking into the financial disclosures made by the edtech firm for certain financial years. ICAI President <keyword id="20561888" type="General" weightage="20" keywordseo="ranjeet-kumar-agarwal" source="keywords">Ranjeet Kumar Agarwal</keyword>, last week, said the case is under process. On February 23, shareholders of BYJU'S voted unanimously for removing founder CEO <keyword id="19901244" type="General" weightage="20" keywordseo="byju-raveendran" source="keywords">Byju Raveendran</keyword> and his family members from the board over alleged "mismanagement and failures" at what was once India's hottest tech startup. However, the company had called the voting done in absence of founders as invalid and ineffective. Founder CEO <keyword id="20453822" type="General" weightage="20" keywordseo="raveendran-byju" source="keywords">Raveendran Byju</keyword>, his wife and brother -- the only three members on the company board as of now -- stayed away from the Extraordinary General Meeting (EGM) called by a group of six investors, who collectively hold more than 32 per cent in Think &amp; Learn. At the end, more than 60 per cent of the shareholders voted in favour of all the seven resolutions, which included removing the current management, reconfiguration of the board and a third party forensic investigation into acquisitions done by the company, sources close to the investors had said. However, sources close to BYJU'S had put the number at 47 per cent.

Govt expedites inspection of crisis-hit Byju's

New Delhi, Edtech major Byju's has appointed <keyword id="17995856" type="General" weightage="20" keywordseo="upgrads-former-chief" source="Orion">upGrad's former chief</keyword> <keyword id="237838" type="General" weightage="20" keywordseo="arjun-mohan" source="Orion">Arjun Mohan</keyword> as its CEO for international business, according to sources. <keyword id="1702989" type="General" weightage="20" keywordseo="byju-raveendran" source="Orion">Byju Raveendran</keyword> will remain the group Chief Executive Officer (CEO) and <keyword id="4125846" type="General" weightage="20" keywordseo="mrinal-mohit" source="Orion">Mrinal Mohit</keyword> will continue to head the India business, the sources told PTI. Byju's declined to comment on the development. Mohan was with Byju's for 11 years as its Chief Business Officer before joining Ronnie Screwvala-promoted upGrad as its India CEO. He resigned from upGrad in December last year. Byju's operates in the US, Canada, Mexico, Australia, the UK, Brazil, and the Middle East, with users in about 100 countries, according to the company website. It owns US-based reading platform Epic and coding site Tynker, acquired for USD 500 million and USD 200 million, respectively. Other overseas acquisitions of Byju's include Singapore-based Great Learning for around USD 600 million and Austria's mathematics operator GeoGebra for USD 100 million. The development comes as the Bengaluru-headquartered edtech company saw the resignation of three board members - GV Ravishankar, MD of early-backer Peak XV Partners (formerly Sequoia Capital India), Russell Dreisenstock of Prosus, and Chan Zuckerberg's Vivian Wu. Raveendran, during a shareholders' call acknowledged the resignation of the board members but said the company has not accepted them yet, and information about their resignation was leaked prematurely. Byju's in June laid off about 1,000 employees as part of its restructuring process, at a time when the company got involved in a legal battle with lenders in the US for USD 1-billion term loan B. The company's auditor, Deloitte Haskins and Sells, had also resigned over delays in a new Chief Financial Officer taking charge. In April, the company faced searches by the Enforcement Directorate (ED) at its three premises in Bengaluru.

Byju's brings former Grad chief Arjun Mohan onboard as CEO for international business

<ul><li>The <keyword id="5293859" type="General" weightage="20" keywordseo="odisha-train-accident" source="Orion">Odisha train accident</keyword> which resulted in the death of 275 people has turned the spotlight on the <keyword id="1317735" type="General" weightage="100" keywordseo="kavach" source="Orion">Kavach</keyword> initiative that aims to make <keyword id="6355455" type="General" weightage="80" keywordseo="indian-railways" source="Orion">Indian railways</keyword> safer. </li><li>Announced in a revamped avatar in the 2022 Union Budget, the Kavach system was not rolled out on the <keyword id="6357961" type="General" weightage="80" keywordseo="odisha" source="Orion">Odisha</keyword> route. </li><li>Of the total route length of 1.03 lakh kilometres, only 1,455 kilometres have been brought under Kavach yet. </li></ul>The Odisha triple-train crash, which resulted in the death of 275 people and injured 1,175, has turned the focus on the Kavach initiative that aims to make Indian <keyword id="6360676" type="General" weightage="100" keywordseo="railways" source="Orion">railways</keyword> safer. The Kavach (translates to armour in English) system has not been rolled out on the Odisha route yet. “The Kavach system was not available on this route,” said Amitabh Sharma, Indian Railways spokesperson. The government has drawn sharp criticism from several quarters for ignoring railway safety. In a bid to prevent the incidence of accidents, the government announced in 2022 that it would start rolling out a revamped avatar of Kavach on a trial basis, initially covering 2,000 kilometres and then expanding the coverage further. However, only 1,455 kilometres of railway routes under South Central Railway have been brought under Kavach as of January 2023. The government has plans to expand it to 4,000 to 5,000 km in FY24, and has so far spent ₹17-22 crore on rolling out the system. For context, Indian Railways has a total route coverage of nearly 1.03 lakh km. Essentially, a little over 1% of Indian Railways’ route is protected by Kavach so far. <cmsannotation type="cmsannotation" annotationid="What is Kavach?" comment="subhead" text="What is Kavach?"><keyword id="13307732" type="General" weightage="20" keywordseo="what-is-kavach" source="Orion">What is Kavach</keyword>?</cmsannotation> Kavach is an indigenous Automatic Train Protection (ATP) system developed by the Research Designs and Standards Organisation (RDSO), an Indian Railways department, way back in 2002. The Kavach system is designed to prevent collisions of trains – a leading cause of railway accidents in India. While there have been 58 railway accidents in the last 10 years, the Odisha accident is the deadliest. This protection system is aimed at avoiding accidents arising out of driver-related or technical errors, as well as aid drivers (loco pilots) in running the trains safely even in inclement weather conditions. <cmsannotation type="cmsannotation" annotationid="Could Kavach have helped avoid the Odisha accident?" comment="subhead" text="Could Kavach have helped avoid the Odisha accident?">Could Kavach have helped avoid the Odisha accident?</cmsannotation> Kavach was not active on the Odisha route. However, even if the system was deployed, it could not have prevented the tragedy, according to railway officials. The accident involved the Shalimar-Chennai Central Coromandel Express, the Bengaluru-Howrah Superfast Express, and a goods train. While the two passenger trains were running on parallel tracks, the Coromandel Express got derailed and hit the goods train. Its derailed carriages struck the rear carriages of the Howrah Superfast Express on the adjacent track, according to railway ministry officials. "If an obstruction comes suddenly in front of a high-moving vehicle, then no technology in the world would prevent an accident,"<a href="https://twitter.com/ANI/status/1665270642797875200"> said</a> Jaya Varma Sinha, member of operation and business development, Railway Board. She added that the presence of iron ore in the goods train led to the higher number of casualties. According to Railways minister Ashwini Vaishnaw, a failure of the interlocking mechanism led to the triple-train accident. "The change that occurred during electronic interlocking caused the accident. Whoever did it and how it happened will be found out after a proper investigation," Vaihsnaw told news agency ANI. According to preliminary reports, the Coromandel Express’ loco pilot did not make an error. The train was given a signal to pass. However, it crashed into the goods train due to the failure of the interlocking mechanism putting it onto the same path as the goods train. At the time of impact, the Coromandel Express was at a speed of 128 kmph. <cmsannotation type="cmsannotation" annotationid="Railway safety in focus" comment="subhead" text="Railway safety in focus">Railway safety in focus</cmsannotation> Although officials say that the Kavach system could not have prevented the Odisha accident, it still brings railway safety into focus. According to a report by the Comptroller and Auditor General (CAG), Indian Railways has failed to utilise funds earmarked for undertaking safety-related expenditure. The report adds that Indian Railways was supposed to spend ₹1 lakh crore from FY18 to FY23 on safety, at ₹20,000 crore per year. Of this, the government was supposed to pay ₹15,000 crore every year, and the rest crore was to be raised by the Indian Railways. The report states that the Railways failed to do so in every year between FY18 to FY23. With a little over 1% of Indian Railways’ total route length under Kavach and in the aftermath of the deadliest railway accident in decades, safety concerns are taking centrestage. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/rbi-mpc-likely-to-hold-repo-rate-in-june-policy-as-inflation-cools/articleshow/100760075.cms">RBI monetary policy: MPC likely to keep the pause-button pressed</a> <a href="https://www.businessinsider.in/business/auto/news/wedding-season-drives-hero-motocorp-and-bajaj-auto-sales-in-may/articleshow/100700290.cms">Wedding bells drive two-wheeler sales in May, passenger vehicles cruise on SUVs</a> <a href="https://www.businessinsider.in/india/news/indias-gdp-forecast-raised-but-el-nino-export-contraction-threats-hover/articleshow/100693955.cms">India’s GDP forecast raised but El Nino, export contraction threats hover</a>

Explained: What is Kavach? The Railways’ protective armour missing in Odisha

<ul class="summary-list"><li><keyword id="6354427" type="ORGANIZATION" weightage="60" keywordseo="apple">Apple</keyword> on Saturday reportedly put <keyword id="1930805" type="PERSON" weightage="60" keywordseo="Wistron">Wistron</keyword> Corp, a <keyword id="6362048" type="UNKNOWN" weightage="60" keywordseo="manufacturing">manufacturing</keyword> partner, on probation after workers at a plant in <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword> caused rioted over reduced or unpaid salary. </li><li>Apple and Wistron both acknowledged lapses in payment in October and November, according to <a href="https://timesofindia.indiatimes.com/business/india-business/apple-wistron-admit-to-lapses-in-payments-to-workers-in-karnataka-facility/articleshow/79812917.cms">The Times of India</a>.</li><li>"We have place Wistron on probation and they will not receive any new business from Apple before they complete corrective actions," Apple said in a statement, according to multiple local news reports. </li></ul>Apple on Saturday reportedly said it would temporarily stop giving new business to Wistron Corp., putting its partner on probation after rioting workers at a plant in India caused about $7.1 million in damage.The riots were over reduced or unpaid salaries. "We have placed Wistron on probation and they will not receive any new business from Apple before they complete corrective actions," Apple said in a statement, according to multiple local news reports. Last weekend, about 2,000 workers coming off a night shift <a href="https://www.businessinsider.com/workers-riot-over-pay-factory-making-apple-iphones-in-india-2020-12">destroyed the lobby and other parts</a> of Wistron's <keyword id="6354606" type="COMPANY" weightage="60" keywordseo="iPhone">iPhone</keyword> facilities in Narasapura, India. Apple and Wistron both acknowledged lapses in payment in October and November, according to <a href="https://timesofindia.indiatimes.com/business/india-business/apple-wistron-admit-to-lapses-in-payments-to-workers-in-karnataka-facility/articleshow/79812917.cms">The Times of India</a>. "While these investigations are ongoing, our preliminary findings indicate violations of our Supplier Code of Conduct by failing to implement proper working hour management processes. This led to payment delays for some workers in October and November," an Apple statement said, according to <a href="https://www.newindianexpress.com/business/2020/dec/19/apple-puts-wistron-on-probation-afterpayment-delays-to-workers-in-karnataka-facility-2238464.html">The New Indian Express</a>.Wistron said it would remove its vice president in charge of India manufacturing, according to The Times of India.<div type="image" title="Wistron Apple India Closed Down.JPG" height="3732" width="5376" msid="79815343" hostid="261"></div>Wistron and Apple didn't immediately respond to requests for comment. Last Saturday, images of workers smashing windows, spraying fire extinguishers, and flipping cars spread online.The dispute in Narasapura, a suburb of Bengaluru, started as overnight workers left the Wistron factory early Saturday morning, according to <a href="https://timesofindia.indiatimes.com/city/bengaluru/violence-breaks-out-at-wistron-corps-iphone-manufacturing-plant-near-bengaluru/articleshow/79691511.cms">The Times of India</a>. Workers who had recently had their wages reduced - some by about a quarter - started discussing it on the factory floor overnight, the newspaper said.Some reportedly only received tiny fractions of the pay that had been promised. By morning, the discussion had turned violent."They breached the four main entrance gates, ransacked offices, smashed lockers and desks, and destroyed documents containing details of employees," a police official told <a href="https://www.thehindu.com/news/national/karnataka/iphone-factory-violence-wistron-estimates-43770-crore-in-damage/article33321871.ece">The Hindu</a> on Sunday. About 128 people were arrested, while another 300 were detained for questioning, the official said. <div type="image" title="Tim Cook Apple Congress Hearing.JPG" height="720" width="1280" msid="79815347" hostid="261"></div>After last weekend's riots, Apple sent a team into Narasapura. "We have teams on the ground and have immediately launched a detailed investigation at Wistron's Narasapura facility," Apple said in an email to <a href="https://asia.nikkei.com/Business/Technology/Apple-probes-Wistron-iPhone-plant-in-India-after-violence">Nikkei Asia</a> on Monday. On Tuesday, Wistron said damage at the facility totalled about $7.1 million, according to <a href="https://www.reuters.com/article/us-apple-india-wistron/apple-supplier-wistron-puts-india-plant-damage-at-up-to-7-million-idUSKBN28P054">Reuters</a>. Company and independent auditors have been "working around the clock" to investigate issues at the plant, the Times of India <a href="https://twitter.com/TOIBengaluru/status/1340230435645747205?s=20">reported</a> on Saturday. The Indian prime minister, Narendra Modi, was reportedly "very worried" about the ransacked factory. "We have taken action. It is a very important foreign company and this should not have happened. The PM is also very much worried about this development," BS Yediyurappa, chief minister of Karnataka, told India's <a href="https://www.businesstoday.in/current/corporate/pm-modi-very-worried-about-violence-at-wistron-factory-yediyurappa/story/425205.html">Business Today</a>. Wistron is just one of several foreign manufacturing companies that have chosen to open factories in the suburbs outside Bengaluru. Local politicians, including Yediyarappa, have pushed for it to become a global manufacturing hub. As Wistron scaled its operations in India this year, its HR practices failed to keep pace. "Though 10,500 workers are employed in the factory the HR department has not been adequately set up with personnel of sound knowledge of labour laws," said a government report, according to Reuters.

Apple puts iPhone partner Wistron on probation after rioting workers caused $7 million worth of damage at Indian plant

<ul><li>The unemployment rate in the country shrunk significantly to 8.5% during the week ending June 28 — showing improvement in terms of job prospects and economic recovery. </li><li>Every week, Business Insider collates interesting vacancies across marquee organisations. </li><li>This week we bring job openings across financial services companies in India. </li><li><a href="https://www.businessinsider.in/">Visit Business Insider India for more stories</a> </li></ul>As India resumed operations, the unemployment rate in the country shrunk significantly to 8.5% during the week ending June 28 — showing improvement in terms of job prospects and economic recovery, according to the<a href="https://unemploymentinindia.cmie.com/kommon/bin/sr.php?kall=wshowtab&amp;tabno=0002"> Centre for Monitoring Indian Economy (CMIE)</a>. This comes as businesses are slowly picking up pace and are hiring more talent to keep up with the operations. Every week, Business Insider collates interesting vacancies across marquee organisations. A few such vacancies are listed here. This week we bring job openings across financial services companies in India. Here are a few of those opportunities: EY Position: Azure Cloud Engineer Location: Bengaluru Experience: Minimum 6 years Eligibility: Bachelor of Technology (BTech) or Master’s degree in computer applications Audit major EY is hiring a senior software engineer in the IT Advisory Services team, who will be responsible for the delivery of cloud technology based projects. The selected hire will work on technologies like .net, No-SQL databases — Azure Cosmos, Mongo. To apply for the job, the candidate must have experience with Azure SDK (software development kit). That includes knowledge of Azure PaaS, SaaS and IaaS offerings, security. He will also perform software testing operations and end-to-end API development. The applicant must be skilled in Azure SQL, Azure functions and web applications along with good communication and presentation. Interested candidates can apply <a href="https://www.linkedin.com/jobs/view/1887457391/">here</a>. <keyword id="6361649" type="UNKNOWN" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> Position: Tech Risk – Secure SDLC – Advisory Location: Bangalore Experience: Not Specified Eligibility: Not specified Goldman Sachs is looking to hire for its Global Application Security team that is responsible for identifying security flows and assurance advice to engineers for managing application risks. The candidate will be a part of the Technology Risk team and engineer automated security testing solutions in DevOps, facilitating adoption of security controls. They will work with engineers to come up with a security testing strategy and promote secure SDLC (Software Development LLifecycle) and application security. The candidate must have expertise in integrating software security controls to enhance user experience. Interested candidates can apply <a href="https://www.linkedin.com/jobs/view/1875843855/">here</a>. Deloitte Position: Analyst – Accounts Payable Location: Hyderabad Experience: 0-3 years Eligibility: Commerce graduate with accounting skills Deloitte is inviting applications for an analyst to join the financial and accounting team. The selected hire will be responsible for auditing, and posting of invoices submitted to the team, so as to ensure a smooth payment to vendors as per the compliance and policies. They will work to ensure timely resolution of customer queries. The applicant should have working knowledge of the account payable processes — both PO and Non-PO invoices to ensure the timeliness of processing invoices. They should possess strong customer service and analytical skills and have prior experience in SAP or other ERP processes. Interested candidates can apply <a href="https://www.linkedin.com/jobs/view/1925649481/">here</a>. Wells Fargo Position: Financial Plan and Control Analyst Location: Bengaluru Experience: Minimum 4 years Eligibility: Graduate in accounting or finance field American financial services giant Wells Fargo is looking for a financial plan and control analyst to work on regulatory reporting, finances and risk management. The selected hire will be responsible to monitor and assist internal control issues. They will provide subject matter expertise for process and IT control and work with external auditors, regulatorson control related matters. To apply for the job, the candidate must have understanding of regulatory agencies and working experience with Microsoft Office Word, Excel, Outlook, and PowerPoint. They will be required to have certification in CISA, CISM or CISSP along with experience in IT audit and testing. Interested candidates can apply <a href="https://www.linkedin.com/jobs/view/1899026100/">here</a>. KPMG Global Services Position: Graphic Designer Location: Bengaluru Experience: Minimum 5 years Eligibility: Fine Arts degree KPMG is hiring a Graphic Designer who will assist the company’s clients with creatives and visuals representing the key concepts in the KPMG brand document. The selected hire will interact with clients, discuss the requirements and creative prepositions. They will be responsible for the design and execution of graphics. To apply for the job, the candidate must have technical skills in powerpoint, word, excel and acrobat along with working experience with tools like indesign, photoshop, illustrator, aftereffects and premiere. The applicant should also possess good analytical skills and solution-oriented approach. Interested candidates can apply <a href="https://www.linkedin.com/jobs/view/1903009391/">here</a>.

Hiring this week — Well Fargo, EY, Goldman Sachs and others are looking for technical analysts and finance professionals

Bengaluru, May 15 () Amid the coronavirus spread inthe country, there is some news to cheer from Karnataka'sMysuru district, a hotspot, with all 90 patients having fullyrecovered and discharged. "All the 90 COVID-19 positive patients from MysoreDistrict Hospital have been discharged without singlemortality. Thank you for all the support," the Health Departmentsaid in a brief statement on Friday. Sharing the joy, medical education minister Dr KSudhakar tweeted, "Glad to inform that all 90 COVID19 positivepatients in Mysuru Dist Hospital have recovered. Thanks to doctors, nurses &amp; all CoronaWarriors whoworked tirelessly to make this possible.With people support,we can win this fight against Corona."District Health and Family Welfare Officer Dr RVenkatesh told there were 74 cases in Nanjangud, whichwere related to a pharmaceutical company Jubilant LifeSciences. Then there were 10 Tablighis who had not attended theDelhi event but were roaming in Bannur,he said. There were two international travellers and theirprimary and secondary contacts, all put together 90 cases,Venkatesh said. The sleepy town of Nanjangud in the district cameinto the limelight when one after another 74 cases of COVID-19came to the fore. District In Charge Minister of Mysuru S T Somashekar,who holds the cooperation portfolio, cited three reasons forthe infection spreading. Speaking to reporters recently, Somashekar had said,"There could be three reasons. First is that a 10-member team of foreigners had cometo Jubilant(pharmaceutical company Jubilant Life Sciences) Second is that a team of auditors had come from Delhiand the third is that there was an employee of Jubilant who islearnt to have attended the Tablighi Jamat event in Delhi."According to Venkatesh, an extensive survey was done inthe entire area making sure that every COVID-19 case wastraced. "We conducted an extensive survey in Mysuru andNanjangud.The containment was very good. The containment atthe buffer zone is very important, which should be followed,"he said.While it is believed that people above 50 years andthose having medical history are the most vulnerable, thedoctors made a point that all of them were cured completely. There were two patients having Severe AcuteRespiratory Illness (SARI) while four patients were above 50,Venkatesh said. "The treatment method of young and old is different.Their response to treatment is very important," he pointedout. The district authorities have now taken up a task ofsecond round of survey, focusing on patients with medicalhistory. "This is our second phase of survey.If we succeed,then there will be no positive cases in the district,"Venkatesh added. GMS BNWELCOME BNWELCOME

All Mysuru COVID-19 patients cured, discharged

<ul><li>Coffee baron VG Siddhartha built the iconic chain Cafe Coffee Day in India but the business had come under pressure in recent years.</li><li>The company's net debt was over two and a half times its net worth at the end of March 2019.</li><li>ANI, a news agency, put out a letter allegedly written by the founder VG Siddhartha before went missing on Monday night. </li></ul>The founder of the Cafe Coffee Day chain, VG Siddhartha, has gone missing mysteriously. Reports suggest that the Mangaluru Police suspects that Siddhartha may have jumped off Ullal bridge. VG Siddhartha came from a coffee-growing family, which owned 15,000 acres of coffee estate in Chikmagalur in Karnataka. He launched the first Cafe Coffee Day (CCD) outlet on Brigade Road in Bengaluru in 1996. The chain currently has 1,750 outlets and over 60,000 vending machines spread over Nepal, Malaysia, Czech Republic, and Egypt, <a href="http://www.coffeeday.com/PDF/Coffee_Day_Annual_report_2018.pdf">aside from 245 cities in India. </a> However, the business had come under severe pressure in recent years. The company's net debt was over <a href="https://www.business-standard.com/article/companies/coca-cola-in-talks-to-pick-stake-in-cafe-coffee-day-after-pocketing-costa-119062700063_1.html" data-type="tilCustomLink" target="_blank">two and a half times its net worth</a> at the end of March 2019. A news agency ANI put out a letter, which it said was written by Siddhartha to his employees before he went missing. 
	
	<div type="twitter" handle="ANI" handlename="ANI" image="http://pbs.twimg.com/profile_images/1497864299/ani_mic_logo_normal.jpg" favoritecount="144" retweetcount="94" status="Founder &amp; owner, Cafe Coffee Day (CCD), #VGSiddhartha's letter to employees and board of directors of CCD, states,… https://t.co/LJeAe1sxdR" createdat="1564460286000" id="1156056347328294913"></div>





 Here's the full text off the letter as put out by the agency. To our Board of Directors and Coffee Day Family, After 37 years, with strong commitment to hard work, having directly created 30,000 jobs in our companies and their subsidiaries, as well as another 20,000 jobs in technology company where I have been a large shareholder since its founding, I have failed to create the right profitable business model despite my best efforts. I would like to say I gave it my all. I am very sorry to have let down all the people that put their trust in me. I fought for a very long time but today I gave up as I could not take any more pressure from one of the private equity partners forcing me to buy back shares, a transaction I had partially completed six months ago by borrowing a large sum of money from a friend. Tremendous pressure from other lenders lead me to succumbing to the situation. There was a lot of harassment from the previous DG Income Tax in the form attaching our shares on two separate occassions to block our Mindtree deal and taking position of our Coffee Day shares, although the revised returns have been filed by us. This was very unfair and has led to a serious liquidity crunch. I sincerely request each one of you to be strong and to continue running these businesses with a new management. I am solely responsible for all mistakes. Every financial transaction is my responsibility. My team, auditors, and senior management are totally unaware of all my transactions. The law should hold me and only me accountable as I have withheld this information from everybody including my family. My intention was never to mislead or cheat anybody, I have failed as an entrepreneur. This is my sincere submission, I hope some day you will understand, forgive me and pardon me. I have enclosed a list of assets and tentative value of each asset. As seen below our assets outweigh our liabilities and can help repay everybody. Regards, VG Siddhartha SEE ALSO: <a href="https://www.businessinsider.in/vg-siddhartha-founder-of-cafe-coffee-day-and-son-in-law-of-ex-karnataka-cm-sm-krishna-is-missing/articleshow/70443830.cms" data-type="tilCustomLink" target="_blank">Coffee baron VG Siddhartha, the founder of India's iconic chain Cafe Coffee Day, is missing</a>

Full text of the letter written by Cafe Coffee Day founder VG Siddhartha before he went missing

The boom of the startup ecosystem in India has caught everyone’s attention, including <a href="http://www.businessinsider.in/searchresult.cms?query=chartered+accountants+">chartered accountants</a> (CAs), some of whom are seeking an equity stake for the <a href="http://www.businessinsider.in/searchresult.cms?query=non-audit+">non-audit</a> services they offer. 
 Most of such <keyword id="6362476" type="ORGANIZATION" weightage="60" keywordseo="investments">investments</keyword> are done via family offices of the CAs and <a href="http://www.businessinsider.in/searchresult.cms?query=tax+advisors">tax advisors</a>. 
 Auditors are not allowed to pick up stakes in the company they audit due to certain regulations. "Our family office works independently and has invested in around six <keyword id="6362513" type="ORGANIZATION" weightage="100" keywordseo="Startups">startups</keyword> till date," Jeenendra Bhandari, partner at tax firm MGB and Co LLP told the Economic Times. 
 
These advisors provide a complete non-business support to a startup from structure, business plan, corporate law, ESOPs documentation, agreements, fund raising to angel round. 
 
Therefore, this proves to be a win-win situation for both the startup and the investor. While the startup gets all the services, including ideation on technical grounds, <a href="http://www.businessinsider.in/searchresult.cms?query=incubation+">incubation</a> and mentoring, the investing CA can see the upside of an investment if the startup makes it big. 
 
Bhandari said: "It's an independent group that evaluates to take equity in startups that are referred or where we advise." 
 According to industry executives, most of the time techies who are starting their own venture are not comfortable around <keyword id="6383566" type="PERSON" weightage="60" keywordseo="Taxation">taxation</keyword> and legal issues. This is where the CAs and tax experts step in. 
 Zophop founder <keyword id="2989292" type="UNKNOWN" weightage="60" keywordseo="Vinayak-Bhavnani">Vinayak Bhavnani</keyword> said: "It also helps that there is also a relationship that we enjoy with our advisors." 
 
Most of the CAs, who take stake in startups, also pump in funds. However, it helps during valuation negotiations that the advisors have a relationship with the founder. 
 
Like Bhandari, Chennai-based CA Manish Mardia has mentored several startups, such as myPenworld.com, Coveritup.in, Tooney.in and Easybikes.co.in, and picked up small stakes in some of them. 
 
"With a CA, a startup gets holistic advice on all <a href="http://www.businessinsider.in/searchresult.cms?query=incubation+">corporate law</a>, accounting, tax and legal matters. A CA is a generalist and can manage all non-business services for a startup, which can then focus on the business and operations," he said. 
 
In certain cases, the investing opportunity comes in different forms for the advisors. For example, there was a dispute between two promoters in a Bengaluru-based medical software company. The promoters approached their tax advisor for resolution and amicably parted ways. 
 
One of the partners who inherited the company and bought out the other for cash needed some funds to take the business to the next level. "Having spent much time with the promoters, our family office decided to invest in this company and recently exited part of the investments at 3X," said a Mumbai-based owner of a CA firm. 
 
(Image: Indiatimes)

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