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<ul><li><keyword id="14948605" type="General" weightage="50" keywordseo="zipline-designs" source="Orion">Zipline designs</keyword>, manufactures and operates the world's largest instant logistics and delivery system.</li><li><keyword id="107096" type="General" weightage="80" keywordseo="tesla" source="Orion">Tesla</keyword> veteran <keyword id="287424" type="General" weightage="50" keywordseo="deepak-ahuja" source="Orion">Deepak Ahuja</keyword> joined Tesla Motors as its first <keyword id="53346" type="General" weightage="80" keywordseo="cfo" source="Orion">CFO</keyword> in 2008 and quit Tesla in 2019. </li><li>He will start the new role at <keyword id="969703" type="General" weightage="100" keywordseo="zipline" source="Orion">Zipline</keyword> from September 30. </li></ul>Drone delivery and logistics startup Zipline has hired Indian-origin former Tesla veteran Deepak <keyword id="54177" type="General" weightage="80" keywordseo="ahuja" source="Orion">Ahuja</keyword> as its first chief business and financial officer. Ahuja, who is leaving his job as CFO at Alphabet's healthcare unit Verily Life Sciences, will start in the new role at Zipline from September 30. "Rarely do I see this level of disruption and impact paired with the world-class technology that Zipline's team is building," Ahuja said in a statement late on Friday. "The company's instant logistics solution was born out of a deep understanding of what their customers need, and has already delivered incredible value to people around the world by saving lives, time, money and reducing the environmental impact of deliveries on the planet," he added. Zipline designs, manufactures and operates the world's largest instant logistics and delivery system for businesses, governments and consumers. Prior to Verily (which just raised $1 billion led by Alphabet), Ahuja was the CFO of Tesla where, among many things, he oversaw the company's rise to profitability. With his exit from Tesla in 2019, Tesla Founder and CEO Elon Musk suffered a jolt as he planned to bring his electric cars to India. Ahuja flew to India a couple of times, seeking to know from the government and other key stakeholders whether there is a will to let Tesla enter India. Ahuja, a seasoned auto industry finance executive with 15 years experience at Ford Motor Company, joined Tesla Motors as its first CFO in 2008. He holds a Bachelor's degree in ceramic engineering from the Indian Institute of Technology (BHU), Master's degree from Robert R. McCormick School of Engineering and Applied Science of Northwestern University and is an MBA from Carnegie Mellon University. "Ahuja brings decades of experience helping to build revolutionary and disruptive companies in the transportation and health sectors," said <keyword id="3561603" type="General" weightage="50" keywordseo="keller-rinaudo" source="Orion">Keller Rinaudo</keyword>, CEO and co-founder of Zipline. "His track record will have a massive impact as we continue to expand our footprint, support new categories, and build a business for the long-term," Rinaudo added. To date, Zipline has delivered more than 380,000 packages with more than 3.5 million products, and flown more than 25 million autonomous miles.

Zipline hires former Tesla CFO Deepak Ahuja

Former <keyword id="6653" type="General" weightage="80" keywordseo="icici-bank" source="Orion">ICICI Bank</keyword> CEO and MD <keyword id="45875" type="General" weightage="80" keywordseo="chanda-kochhar" source="Orion">Chanda Kochhar</keyword> and her husband <keyword id="2621036" type="General" weightage="100" keywordseo="deepak-kochhar" source="Orion">Deepak Kochhar</keyword> were released from jail on Tuesday morning, a day after the Bombay High Court granted them interim bail in a loan fraud case, a police official said. Chanda Kochhar walked out of the Byculla women's prison in Mumbai, while her husband was released from the Arthur Road jail, the official said. The CBI arrested Kochhars on December 23, 2022, in connection with the Videocon-ICICI Bank loan case. The couple had filed petitions in the Bombay High Court challenging their arrest, terming it as illegal and arbitrary. The HC on Monday granted them interim bail and came down heavily on the Central Bureau of Investigation (CBI) for making the arrest in a "casual and mechanical" manner and without application of mind. The CBI named the Kochhars, <keyword id="6354248" type="General" weightage="80" keywordseo="videocon" source="Orion">Videocon</keyword> group founder Venugopal Dhoot along with <keyword id="3152077" type="General" weightage="80" keywordseo="nupower-renewables" source="Orion">Nupower Renewables</keyword> (NRL) - managed by Deepak Kochhar - Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Ltd as accused in the FIR (first information report) linked to the case registered in 2019 under Indian Penal Code sections pertaining to criminal conspiracy and provisions of the Prevention of Corruption Act. The central agency has alleged that ICICI Bank, headed by Chanda Kochhar from 2009 to 2018, sanctioned credit facilities to the tune of Rs 3,250 crore to these companies in violation of norms. It further claimed that as a part of quid pro quo (Latin expression literally meaning "something for something"), Dhoot made an investment of Rs 64 crore in Nupower Renewables through Supreme Energy Pvt Ltd (SEPL), and transferred SEPL to Pinnacle Energy Trust managed by Deepak Kochhar through a circuitous route between 2010 and 2012. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/bank-loan-fraud-case-bombay-hc-to-hear-plea-of-videocons-venugopal-dhoot-against-illegal-arrest-by-cbi/articleshow/96871372.cms">Bank loan fraud case: Bombay HC to hear plea of Videocon's Venugopal Dhoot against 'illegal' arrest by CBI</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/park-raises-140-crore-for-biz-expansion-to-over-100-cities-hire-200-people/articleshow/96876227.cms">Park+ raises ₹140 crore for biz expansion to over 100 cities, hire 200 people</a>

Loan fraud case: Chanda Kochhar, her husband Deepak Kochhar released from jail

<ul><li>A special <keyword id="6354572" type="General" weightage="80" keywordseo="cbi" source="Orion">CBI</keyword> court on Thursday sent former ICICI Bank CEO and MD <keyword id="45875" type="General" weightage="80" keywordseo="chanda-kochhar" source="Orion">Chanda Kochhar</keyword>, her husband <keyword id="2621036" type="General" weightage="80" keywordseo="deepak-kochhar" source="Orion">Deepak Kochhar</keyword> and <keyword id="6354248" type="General" weightage="80" keywordseo="videocon" source="Orion">Videocon</keyword> group founder Venugopal <keyword id="18489" type="General" weightage="100" keywordseo="dhoot" source="Orion">Dhoot</keyword> to 14-day judicial custody. </li><li>The CBI had named the Kochhars and Dhoot, along with companies NRL, SEPL, VIEL and Videocon Industries Limited, as accused. </li><li>The CBI has alleged that ICICI Bank had sanctioned credit facilities to the tune of Rs 3,250 crore to companies of the Videocon Group promoted by Dhoot, violating the Banking Regulation Act.</li></ul>A special CBI court in Mumbai on Thursday sent former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon group founder Venugopal Dhoot to 14-day judicial custody in connection with a loan fraud case. The Kochhars were arrested by the Central Bureau of Investigation (CBI) last Friday. Dhoot was arrested on Monday. The three were produced before special judge S H Gwalani at the end of their earlier remand on Thursday. The CBI, represented by special public prosecutor A Limosin, did not seek their custody further. The court then sent all the three accused to judicial custody till January 10, 2023. The CBI had named the Kochhars and Dhoot, along with companies Nupower Renewables (NRL) managed by Deepak Kochhar, Supreme Energy Private Limited (SEPL), Videocon International Electronics Ltd (VIEL) and Videocon Industries Limited, as accused in its FIR registered in 2019 under Indian Penal Code sections related to criminal conspiracy and the Prevention of Corruption Act. The CBI has alleged that ICICI Bank had sanctioned credit facilities to the tune of Rs 3,250 crore to companies of the Videocon Group promoted by Dhoot in violation of the Banking Regulation Act, RBI guidelines, and credit policy of the bank. According to the CBI, a sanctioning committee headed by Chanda Kochhar in 2009 approved a term loan of Rs 300 crore to VIEL in contravention of the rules and policies of the bank by abusing her official position as a public servant. The day after the loan was disbursed, Dhoot transferred Rs 64 crore to NRL from VIEL through SEPL. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/recession-will-be-an-opportunity-for-it-services-firms-focused-on-transformation-as-per-mphasis-ceo/articleshow/96544373.cms">“Recession will be an opportunity for IT services firms focused on transformation” - Mphasis CEO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/years-will-roll-decades-will-pass-and-ril-will-grow-like-a-banyan-tree-mukesh-ambani/articleshow/96591146.cms">Years will roll, decades will pass and RIL will grow like a banyan tree: Mukesh Ambani</a>

Loan fraud case: Chanda Kochhar, Deepak Kochhar and Dhoot sent to judicial custody till Jan 10

<ul class="summary-list"><li><keyword id="57060" type="PERSON" weightage="60" keywordseo="Deepak-Chopra">Deepak Chopra</keyword> says the world is facing three pandemics at the moment — one is the infection, the second is the financial crisis, and the third is panic that is manifesting as <keyword id="23666" type="ORGANIZATION" weightage="60" keywordseo="stress">stress</keyword>.</li><li>Chopra says when you feel stressed, follow the S-T-O-P method: Stop, Take three deep breaths, Observe your breath and your body, and Proceed with awareness and compassion.</li><li>Chopra says we are grieving what we consider to be our normal life, but once we get to the final stage of grief, acceptance, we can start to find meaning and purpose in our lives and our relationships. </li><li>He suggests starting each day with four questions: Who am I? What do I want? What is my purpose? What am I grateful for?</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>Deepak Chopra is a physician, educator, and author of many books, including the most recent "<a href="https://amzn.to/34I8yBU">Metahuman: Unleashing Your Infinite Potential</a>." Chopra recently launched the podcast series "<a href="https://podcasts.apple.com/us/podcast/now-for-tomorrow-with-deepak-chopra/id1507063075?mt=2&amp;ign-itsct=pod_religionofsports_nowfortomorrow&amp;ign-itscg=80085cg=80085">Now For Tomorrow</a>" and is offering the <a href="https://chopracentermeditation.com/">21-day meditation he hosted with Oprah Winfrey</a> free for those who log on through his website by April 24.Following is a transcript of the video. Sara Silverstein: Deepak, we are all very much alone together right now, in that we're separately experiencing a lot of the same difficulties. What is the main message that you're trying to bring to people right now through your podcast and through this <keyword id="6388212" type="UNKNOWN" weightage="60" keywordseo="meditation">meditation</keyword>?Deepak Chopra: Well, the main message is that we can take this time to get in touch with our deeper self, create intimacy with ourselves and with each other. We can do that now through technology. You and I are having a very interesting one-to-one conversation. People are listening to us.We can enhance our intimacy through acceptance, appreciation, affection, and joy, and help each other manage stress, because there are three pandemics going on. One is the infection, the second is the financial crisis which is causing a lot of suffering, and the third is panic which is recycling as stress, which is weakening our immune system, increasing inflammation, actually.All the evidence shows that those who get really sick are the ones who have inflammatory storms in their body, which is a result of stress. So managing stress right now, that's why the 21-day meditation offering with Oprah Winfrey, which is called how to manage these times, unpredictable times, "<a href="https://chopracentermeditation.com/">Hope in Uncertain Times</a>."And also the podcast, which is "<a href="https://podcasts.apple.com/us/podcast/now-for-tomorrow-with-deepak-chopra">Now For Tomorrow</a>," which means what can you do now — not today, now — to alleviate your stress so that you have a better tomorrow and even a better today. So that was the intention behind these efforts.Silverstein: How do people recognize stress in them, and how do you deal with it if it feels like you're having a real physical reaction to the stress that you're feeling?Chopra: There's no stress without a physical reaction. If I asked you even to think of a stressful situation in the past, an argument with your significant other, or with your children, or when you lost your job, just the thought immediately makes your heart rate faster, increases your blood pressure, your platelets get sticky and there's inflammation. So anytime you're feeling physical distress in any form, behind that is stress, perception of threat. That's what stress means.Stress is the psychological, emotional, and perceptual feeling of threat interpretation. And immediately it changes your biology. It immediately compromise your immune system, but you can immediately correct it. So here's how you correct it immediately. Immediately. Forget all the details. I call this the STOP formula, S-T-O-P. Anytime you feel stressed, obviously, you know that you're feeling stressed because your body doesn't feel good, right? So anytime you feel stress, STOP. That's the formula, S-T-O-P.S stands for Stop. T, take three deep breaths and smile from your head to your toes, because when you smile, it changes your biology. O, observe your breath or the sensations in your body. When you observe the sensations in your body or your breath, you take away your awareness from the thought. And that's what a stress response is. It's a thought and a sensation at the same time. So when you put your attention on the sensation, you take it away from your thoughts and that immediately calms you down. So S, stop. T, take three deep breaths and smile. O, observe the sensation in your breath, take it away from the thought. And P, proceed with awareness and compassion. And do it every time you feel stressed till you get it right and then make it a habit. And then you won't have stress.Silverstein: OK, that sounds good. Is now a good time for someone who's been thinking about starting a mindfulness practice to start developing one? And is your 21-day free meditation, is that a good place to start? Is it for beginners?Chopra: Yes. The 21-day offered with the partnership with Oprah Winfrey is the best way to get started. It's online. It's free of charge. And over the last few years, Oprah and I have actually helped 6 to 10 million people learn meditation practices just online. Just online.Silverstein: Wow. And for those of us who are sheltering in place with small children, one of the things that we've always talked about was starting a family mindfulness practice. Do you have any advice for people who would like to involve their children in their mindfulness practice?Chopra: If your children are less than 5 years, then actually you should dance with them, play music to them, read poetry and nursery rhymes or great adventure stories of how the great heroes and heroines of the past went through trials and tribulations and emerged victorious. So the children should be only entertained with stories, poetry, music, and movement. That is mindfulness for them.When they are 5 years, you get tell them, "OK, I want you to keep quiet today only for five minutes." When they're 6, then six minutes, 7, seven minutes. At 10 minutes, we introduce them to mindfulness awareness the way we do it but don't push them into it.This is a great time for you to actually have fun with your kids and tell them stories. Ask my mother. When I was 6 years old, she used to tell me stories. She'd leave me at a cliffhanger every night and say, "Tomorrow I want you to come up with the ending and it better be a happy ending and it better be a love story." So share love stories with happy endings with your kids right now.Silverstein: Great. And can you help us understand — one of the words we hear a lot around mindfulness is the understanding of impermanence, and that is something that a lot of us are facing right now. Can you talk to us about what impermanence means to the human spirit in general and how we should be looking at it right now?Chopra: Very important question, because every experience we have is impermanent. This experience you and I are having, it'll be over soon, in a few minutes. Every talk is impermanent. It comes and then it disappears as soon as it comes. Every emotion is impermanent. It comes and then it disappears. If you watch, that's what mindfulness is.In fact, if you try hard to hold onto an emotion, you'll find you can't. If you try to hold on to a thought, you'll find that you can't. You try to hold on to a sensation, you can't. You try to hold on to any perception, you can't.So impermanence is a fact of our existence. What is not impermanent is that which we call I. When I say, "I am Deepak Chopra," or you say, "I am Sara Silver," what do you mean? Once upon a time that was a fertilized egg. And then it was a zygote, then it was an embryo, then it was a baby, then it was a child, then it was a teenager.It's what it shows up right now. But just, if I look at my photographs behind me of my childhood, I am not that person anymore, but I am still the same being. So experience is impermanent, but the being is not. And actually meditation, mindfulness, ultimately gets you to that place where you know you're being as your soul and you realize it's not impermanent. Everything else is impermanent. The body, the mind, the experience of the world, but you are not impermanent. And that's what the great spiritual traditions have always said. Your soul is eternal. So mindfulness ultimately gets you in touch with your soul.Silverstein: And is that why the uncertainty weighs on us so much right now emotionally and mentally? And do you have any advice to help people sit in that uncertainty in a way that is less uncomfortable?Chopra: There's a prayer in every religion, every religion. In Christianity it goes "thy will be done." What does that mean, thy will be done? It means that the will of the infinite is playing itself out as situations, circumstances, events, and people. And that awareness, which is fundamental to all experience, is also our awareness.So there's a part of you which is not subject to time, or to aging, or to death, or anything — those are human constructs for impermanent experiences. So once you realize that, not intellectually only but at the level of experience, which is what the value of meditation is, then three things happen. One is you experience yourself as a timeless transcendent being. Two is you have the emergence of what are called platonic qualities named after Plato: truth, goodness, beauty, harmony, love, compassion, joy, empathy, equanimity. And then third is you lose the fear of death because you get in touch with that part of yourself which is not subject to death.That is the essential spiritual experience that we call self-awareness or self-realization, which is actually the ultimate pursuit of every spiritual, religious tradition. When people pray, they're talking to a higher consciousness. When they meditate, they're listening to a higher consciousness. So that is what you need to communicate with anything. You and I communicate because we are listening to each other and we're speaking to each other. Same thing. Listen to your higher self and speak to your higher self for guidance. And you'll slowly enter the domain of what people call truth.Silverstein: And a lot of us aren't just struggling with ourselves. There's also a lot of interesting relationship dynamics, certainly with people that you're sheltering in place with, but also with people that you can't reach, that you're worried about. Do you have any advice, for instance, for me to get along with my husband better while we are stuck in an apartment together for months?Chopra: Yeah. So your experience of your body, your experience of your mind, your experience of your spirit is translated. Your experience of your body, your mind and your spirit is translated into everything that we call experience. Personal relationships and also finding meaning and purpose in life.So right now we are going through grief because we've lost a way of life that we thought, "That's normal." We took it for granted. And grief goes through several stages. The first stage is, people feel victimized. "Why me?" Well, it's not just me. It's everyone right now. Second, they feel angry. Third, they feel frustrated. Fourth, they begin to get resigned and they feel helpless. And then something interesting happens. They find acceptance. Once they find acceptance, they are at peace.Then they ask, "What is the meaning of this?" So meaning is the final stage of inquiry. And that's what we need to find in our life. Meaning as far as, what is a healthy body? Meaning, what's a healthy mind? What are healthy relationships? What is meaning and purpose in my life? And how do I get that through my spirit? This is the opportunity. It would be such a waste if we did not find creative solutions for our life, given that we have the time to reinvent our lives right now.Silverstein: But this is one of the hardest things for people to do at any time. Finding the meaning and purpose in our lives, certainly for me. Now it seems even harder because so much of that has been taken away. So what do you suggest people do? Because we can't necessarily be out there doing what we want to be doing to help.Chopra: So what I do is something very simple. I start my day with four intentions. Joyful, energetic body. Loving, compassionate heart. Reflective, alert mind. And lightness of being.Then I also follow that with four questions. Who am I? What do I want? What is my purpose? And what am I grateful for?Four intentions, four questions. The rest of the day, I just have that in the back of my mind and my relationships, my choices are influenced by those four intentions and those four questions. You don't have to know the answer. Just ask the questions, have the intentions, take it easy, and you'll have a very good day.Silverstein: And I was just going to ask, do you answer the questions, and do you have the same answer to who you are and what your purpose is every day?Chopra: Yeah. So today, who I am, the answer to me is I am an infinite awareness having a human experience. What do I want? To be fully awake in my self. What is my purpose? To help people heal themselves. What am I grateful for? Existence. That's today's answer.But yesterday I could be, I'm grateful for the fact that my granddaughter just got into university, and she's so happy, and I'm happy because she's happy. But things come to you spontaneously. If you don't live the questions, you will never move into the answers.Read the original article on <a href="https://www.businessinsider.com/deepak-chopra-managing-stress-finding-meaning-amid-coronavirus-pandemic-2020-4">Business Insider</a>

Deepak Chopra offers advice on how to manage stress and find meaning during the pandemic

<ul><li>Heterodox or unorthodox economic policies will be more effective for latecomers to development, noted <keyword id="8267719" type="UNKNOWN" weightage="20" keywordseo="economist-deepak-nayyar">economist Deepak Nayyar</keyword>. </li><li>In his book, 'Resurgent Asia: Diversity in Development', Nayyar says that Asia is the poorest continent in the world after being ravaged by colonialism. </li></ul> The Singaporean-South Korean model of carrot-and-stick to implement policies cannot be replicated elsewhere in Asia, and heterodox or unorthodox economic policies will be more effective for latecomers to development, noted economist Deepak Nayyar writes in a new book. In his book, 'Resurgent Asia: Diversity in Development', Nayyar writes that Asia, the poorest continent in the world barely a half-century after being ravaged by colonialism, is set to regain its dominant position in the global architecture, both financially and politically, and could account for more than one-half of world income and more than half of the people on Earth. His policy prescriptions include learning and unlearning from experience as policies are means not ends. "For latecomers to development, heterodox or unorthodox economic policies - in trade, industry, and macro-management - are more effective than orthodox policies," he writes. "Efficient markets and effective governments, together, adapting to each other as time and circumstances change, provide the way forward in development." He says economic openness, while necessary, is not sufficient, and is conducive to development only when combined with industrial policy. He also prescribed social opportunities for people, through the public provision of education and healthcare, which improve wellbeing and the economic development of countries reinforce each other in a virtuous circle. The developmental states in South Korea, Taiwan and Singapore coordinated policies across sectors over time in pursuit of national development objectives, using the carrot-and-stick to implement their agenda, and were able to become industrialised nations in just 50 years. China and Vietnam have followed the same path. "It is not possible to replicate these states elsewhere in Asia," Nayyar writes. "But other countries did manage to evolve some institutional arrangements, even if less effective, that were conducive to industrialization and development. In some of these countries, the institutionalized checks-and-balances of political democracies were crucial to making governments more development-oriented and people-friendly." In the book, Nayyar writes that despite wide diversity among Asian countries, there are common discernible patterns. Chief among them was the fact that economic growth drove development; rising investment and savings rates combined with the spread of education were the underlying factors, and growth was driven by rapid industrialisation, often export-led, associated with structural changes in the composition of output and employment. It was supported by coordinated economic policies, heterodox or unorthodox wherever and whenever necessary, across sectors, and over time. "The rise of Asia represents the beginnings of a shift in the balance of economic power in the world and some erosion in the political hegemony of the West. The future will be shaped partly by how Asia exploits the opportunities and meets the challenges and partly by how the difficult economic and political conjuncture in the world unfolds," the book says. "Yet, it is plausible to suggest that circa 2050, a century after the end of colonial rule, Asia will account for more than one-half of world income and will be home to more than one-half the people on Earth. It will thus have an economic and political significance in the world that would have been difficult to imagine fifty years ago, even if it was the reality in 1820," writes Nayyar. Nayyar is a former vice-chancellor of Delhi University and Emeritus Professor of economics at Jawaharlal Nehru University. He is also a former Distinguished University Professor of Economics, New School for Social Research, New York and is currently serving as an independent director on the Board of Directors of Press Trust of India. The deep pessimism about Asia's economic prospects, voiced by Nobel laureate Gunnar Myrdal in his book 'Asian Drama', was widespread in 1970 when its demographic and social indicators of development, among the worst anywhere, epitomised its underdevelopment. In the half-century since then, Asia has witnessed a profound transformation in terms of the economic progress of nations and living conditions of people. By 2016, it accounted for 30 per cent of world income, 40 per cent of world manufacturing, and over one-third of world trade, while its income per capita converged towards the world average. This transformation was unequal across countries and between people. Still, Asia's economic transformation in this short time-span is almost unprecedented in history. 'Resurgent Asia' considers differences in initial conditions, highlights turning points in economic performance, assesses how processes of change were managed or mismanaged, discusses the influence of development strategies and economic reforms, examines changes in engagement with the world economy, explores the role of governments and politics, and analyses the factors underlying successes, failures, or mixed-outcomes in development. It is essential to recognise the diversity of Asia. There are marked differences between countries in geographical size, embedded histories, colonial legacies, nationalist movements, initial conditions, natural resource endowments, population size, income levels and political systems. The reliance on markets and the degree of openness in economies varied greatly across countries and over time. The politics too ranged widely from authoritarian regimes or oligarchies to political democracies. So did ideologies, from communism to state capitalism and capitalism. Development outcomes differed across space and over time. There were different paths to development because there were no universal solutions, magic wands, or silver bullets. ANZ VIJ ANZ MR MR

Economist Deepak Nayyar says carrot and stick model can't work in all of Asia

<ul><li>The Bombay High Court on Monday granted bail to former ICICI Bank CEO and MD <keyword id="45875" type="General" weightage="80" keywordseo="chanda-kochhar" source="Orion">Chanda Kochhar</keyword> and her husband <keyword id="2621036" type="General" weightage="100" keywordseo="deepak-kochhar" source="Orion">Deepak Kochhar</keyword> in a loan fraud case.</li><li>The court said their arrest was not done in conformity with provisions of law.</li><li>The couple have been asked to deposit a cash bail amount of ₹1 lakh each with one or more sureties of the same amount.</li></ul>The Bombay High Court on Monday granted interim bail to former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar in a loan fraud case, and came down heavily on the Central Bureau of Investigation for making the arrest in a "casual and mechanical" manner and without application of mind. The CBI arrested <keyword id="796820" type="General" weightage="80" keywordseo="kochhars" source="Orion">Kochhars</keyword> on December 23, 2022 in connection with the Videocon-ICICI Bank loan case, and they are presently in judicial custody. The couple had filed petitions in the HC challenging their arrest, terming it as illegal and arbitrary. The duo had sought to be released on bail by way of an interim order. A division bench of Justices Revati Mohite Dere and P K Chavan in its 49-page judgment on Monday said their arrest was not in accordance with the provisions of law. The petitioners are entitled to be released on bail, pending the hearing and final disposal of the petitions, the HC said and listed the petitions for hearing on February 6. The court noted that in the present case, the grounds of arrest are merely stated as non-co-operation and not giving full and correct disclosure. "The reason given in the arrest memos to arrest the petitioners, having regard to the facts as stated aforesaid, appears to us, to be casual, mechanical and perfunctory, clearly without application of mind," the court said. The bench held that the arrest of Kochhars was in violation of Section 41A of the Code of Criminal Procedure (CrPC), which mandates sending notice for appearance before the police officer concerned. "According to the facts, the petitioners' (Kochhars) arrest was not done in accordance with the provisions of law. There has been non-compliance of section 41(A) thus warranting their release," the high court said. "The arrest has not been in conformity with the provisions of law," it added. The HC in its order said the arrests in a case may be authorised only if the investigating officer has a reason to believe that the arrest is necessary and person has committed the crime. "Belief must be in good faith and not casual or on mere suspicion. The same must be made on credible material and no decision to arrest can be made on fancy or whimsical grounds," the HC said. It said the grounds for arresting the petitioners as stated in the arrest memos are unacceptable and contrary to the reason(s)/ ground(s) on which a person can be arrested. "Courts have time and again re-iterated the role of courts in protecting personal liberty and ensuring that investigations are not used as a tool of harassment," the HC bench said. "Needless to state, that personal liberty of an individual is an important aspect of our constitutional mandate. Merely because an arrest can be made because it is lawful, does not mandate that arrest must be made," it added. After registration of the case by the CBI in December 2017, the Kochhars have not only appeared before the agency but also submitted all documents and details, the bench said. "Admittedly, during the period, 2019 till June 2022, for around four years, neither any summons were issued to the petitioners nor any communication was established by the respondent No.1– CBI with the petitioners," it said. "What was the reason to arrest the petitioners after four years is not spelt out in the arrest memos," the judgment said. The bench said even the special CBI court while hearing the remand of Kochhars had overlooked the mandate of law and said if the provisions of law have not been satisfied, then the court was duty-bound to release the accused forthwith. "It is incumbent on the judicial officer authorising detention to be first satisfied that the arrest made is legal and in accordance with law and that all the constitutional rights of the person arrested, are satisfied. The same is not an empty formality," the HC said. It directed the duo to deposit a cash bail amount of Rs one lakh each. The couple's lawyer later said they would now initiate the process before the special CBI court for their release. The HC said the duo shall cooperate with the probe and attend the CBI office as and when summoned. The court also asked the Kochhars to surrender their passports to the CBI. Apart from the Kochhars, the CBI has also arrested <keyword id="6354248" type="General" weightage="80" keywordseo="videocon" source="Orion">Videocon</keyword> group founder <keyword id="7025" type="General" weightage="50" keywordseo="venugopal-dhoot" source="Orion">Venugopal Dhoot</keyword> in the case. He is also in judicial custody. The CBI has alleged that private sector lender ICICI Bank had sanctioned credit facilities to the tune of Rs 3,250 crore to the companies of Videocon Group promoted by Dhoot in violation of the Banking Regulation Act, Reserve Bank of India's guidelines, and credit policy of the bank. The CBI had named Chanda Kochhar, Deepak Kochhar as well as Dhoot along with Nupower Renewables (NRL) managed by Deepak Kochhar, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Ltd as accused in the FIR registered under Indian Penal Code sections related to criminal conspiracy and provisions of the Prevention of Corruption Act. The central agency has alleged that the ICICI Bank sanctioned credit facilities to the tune of Rs 3,250 crore to these companies in violation of norms. It further alleged that as a part of quid pro quo, Dhoot made an investment of Rs 64 crore in Nupower Renewables through Supreme Energy Pvt Ltd (SEPL), and transferred SEPL to Pinnacle Energy Trust managed by Deepak Kochhar through a circuitous route between 2010 and 2012. SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/news/gautam-adani-aap-ki-adalat-interview-dhirubhai-ambani-is-my-role-model-mukesh-ambani-a-very-good-friend/articleshow/96828407.cms">Dhirubhai Ambani is my role model and Mukesh Ambani a very good friend, says Gautam Adani</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-reliance-jio-and-vodafone-idea-q3-earnings-preview-tariff-hikes-a-key-trigger/articleshow/96796094.cms">Churn and fewer 4G subscribers to slow down telecom revenue growth in Q3</a> <a href="https://www.businessinsider.in/stock-market/news/foreign-institutional-investors-sell-shares-nearly-5000-crore-in-first-four-trading-days-of-2023/articleshow/96790974.cms">Foreign institutional investors sell nearly ₹5,000 crore worth equities in first four days of 2023</a>

Bombay HC grants interim bail to Chanda and Deepak Kochhar; raps CBI for 'casual and mechanical' arrest

New Delhi, Feb 3 () Chemicals maker Deepak Nitrite on Monday posted nearly fourfold jump in its consolidated net profit to Rs 156.71 crore for the third quarter of the current financial year, on robust sales.
 It had clocked a net profit of Rs 39.70 crore during the October-December quarter of the previous financial year, according to a BSE filing.
 The company's net income on a consolidated basis jumped significantly to Rs 1,134.52 crore during the third quarter of 2019-20 as compared with Rs 767.72 crore in the year-ago.
 Expenses rose to Rs 923.71 crore in the December 2019 quarter from Rs 767.72 crore a year ago, the filing added.
 Deepak Nitrite CMD Deepak C Mehta said, "Our profitability increased manifold."
 Deepak Phenolics, which was established last year, performed well in terms of volumes. However, as a commodity product, it is susceptible to the global cycle of slowing economic growth and impact of input prices that have suppressed the margins. It is hoped that the commodity cycle will improve in the latter half of the next financial year, he said.
 "Given the robust business visibility, we are planning expansions across all business segments to further foster our performance," Mehta added.
 Gujarat-based Deepak Nitrite has a diversified portfolio of intermediates that cater to the dyes and pigments, agrochemical, pharmaceutical, plastics, textiles, paper and home and personal care segments in India and overseas.
 Its shares rallied 8.50 per cent to close at Rs 409.30 a piece on the BSE on Monday. LUX HRS

Deepak Nitrite posts 4-fold jump in Q3 net profit to Rs 156.71 crore

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Amy Sussman/APDeepak Chopra.</div></div></div>Deepak Chopra - the wellness guru who rose to fame after <a href="http://www.oprah.com/spirit/what-is-happiness-deepak-chopra-video">his 1993 appearance on "The Oprah Winfrey" show</a> - says that certain colors can elevate or lower your happiness.Soft shades of cool colors - like blues, greens, and violets - promote calmness and lower stress levels, Chopra tells Business Insider."There are colors that are calming, and there are colors that are stimulating," he says.That's especially true when they cover the walls of your home, so Chopra recommends avoiding warm, bold colors, like bright red or orange."When you get into orange and red, those colors excite both mood and biology," he says.For the past seven years, in collaboration with the Mayo Clinic and Cleveland Clinic (a medical center in Ohio), Chopra has studied how people's environments influence their moods. Even the colors you surround yourself with can affect how you feel, he says.Chopra is designing seven units in <a href="http://www.businessinsider.com/deepak-chopra-apartments-happiness-2017-2">a Miami apartment complex</a>, set to open in 2019, with this color philosophy in mind. The condos' walls will feature muted colors, including cream, light blue, and tea green.Other studies back up Chopra's ideas about the significance of color. Researchers at the University of British Columbia <a href="https://www.fastcompany.com/3044601/work-smart/why-you-should-never-paint-office-walls-white">found</a> that shades of blue promote communication, trust, and efficiency. <a href="http://journals.sagepub.com/doi/abs/10.1177/0146167212436611">Another study</a> by professors at the University of Rochester suggests that the color green facilitates creativity, positivity, harmony, and balance.Some research has also <a href="http://www.consumerreports.org/paints/right-paint-color-can-boost-home-value/">shown</a> that bright-colored interiors are harder to sell - so think twice before painting your home's walls a loud orange. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/the-worlds-most-colorful-steps-2016-10">San Francisco is home to the world's most colorful steps</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="M3d2EwNzE6f54x9tCQJajcaDGUDvM1ZW" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

You Searched For "deepak" and got 8 results

Zipline hires former Tesla CFO Deepak Ahuja

IANS

Loan fraud case: Chanda Kochhar, her husband Deepak Kochhar released from jail

PTI

Loan fraud case: Chanda Kochhar, Deepak Kochhar and Dhoot sent to judicial custody till Jan 10

PTI

Deepak Chopra offers advice on how to manage stress and find meaning during the pandemic

Sara Silverstein

Economist Deepak Nayyar says carrot and stick model can't work in all of Asia

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Bombay HC grants interim bail to Chanda and Deepak Kochhar; raps CBI for 'casual and mechanical' arrest

PTI

Deepak Nitrite posts 4-fold jump in Q3 net profit to Rs 156.71 crore

PTI

These are the paint colors that make you happiest, according to Deepak Chopra

Leanna Garfield

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