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<ul><li>Delhi HC stays <keyword id="701249" type="General" weightage="50" keywordseo="transport-dept" source="Orion">Transport Dept</keyword>'s notice, saving Ola, <keyword id="1042120" type="General" weightage="80" keywordseo="uber" source="Orion">Uber</keyword>, and Rapido from suspension of ride-sharing services.</li><li>A division bench of Justices Suresh <keyword id="15491952" type="General" weightage="50" keywordseo="kumar-kait" source="Orion">Kumar Kait</keyword> and <keyword id="2581533" type="General" weightage="50" keywordseo="neena-bansal-krishna" source="Orion">Neena Bansal Krishna</keyword> directed the <keyword id="62110" type="General" weightage="100" keywordseo="transport-department" source="Orion">Transport Department</keyword> to refrain from taking any coercive measures against Rapido and other ride-sharing platforms.</li></ul>New Delhi, In a major relief to Ola, Uber, and Rapido, the Delhi High Court on Friday put a stay on the public notice and show cause notice issued by the city Transport Department, halting the ride-sharing platforms. A division bench of Justices Suresh Kumar Kait and Neena Bansal Krishna directed the Transport Department to refrain from taking any coercive measures against Rapido and other ride-sharing platforms until a comprehensive policy is formulated. In February, the app-based aggregators were prevented from plying bike taxis on the road without commercial permits. The Transport Department, ordering an immediate halt to the bike taxi services provided by these platforms, had warned that any violation will result in penal action. The public notice by the Transport Department said that the companies defying the orders will be fined up to Rs 1 lakh, as the use of bikes for commercial purposes violated the Motor Vehicles Act, 1988. Following the High Court decision, Uber has expressed its gratitude towards the court's order providing protection to the company against coercive actions regarding its bike taxi service in the capital city. "We welcome the High Court's order to give Uber protection from coercive action on bike taxis in Delhi. This will bring relief to drivers on our platform whose livelihood had been impacted by the ban as also to the hundreds and thousands of riders who choose to ride on Moto for affordability and last mile connectivity. We are committed to serving the city and being the platform of choice for riders and drivers alike," said Uber in a statement. 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/google-pixel-6a-vs-pixel-7a-smartphone-comparison-with-price-and-features/articleshow/100177889.cms">Google Pixel 6a vs Pixel 7a: Is Google's latest mid-ranger worth the extra ₹12,000?</a>

Relief for ride-sharing platforms as Delhi HC put stays on Transport Department notice

Chennai, July 1 () Public sector Indian Bank on Wednesday announced the elevation of Arun Kumar Bansal as its new Chief Financial Officer (CFO) with immediate effect. Prior to taking up the new role, Bansal was serving the city-based lender as its general manager, the bank said. Bansal succeeds P A Krishnan, who retired from services on June 30 on superannuation, it said in a BSE filing. Bansal(49) has over 29 years of service in the banking sector. He has served the bank in rural, urban and metro branches and also in the treasury and wealth management among many others, the bank said. VIJ ROH ROH

Arun Kumar Bansal is new CFO of Indian Bank

<ul><li>The <keyword id="10031551" type="UNKNOWN" weightage="20" keywordseo="indian-space-startup">Indian space startup</keyword>, <keyword id="7537495" type="UNKNOWN" weightage="20" keywordseo="Skyroot-Aerospace">Skyroot Aerospace</keyword>, has successfully test-fired its first solid rocket propulsion stage demonstrator called Kalam-5.</li><li>Kalam-5 uses the same propellant, materials, and interface as the motors that will be installed on Vikram-1 — in line to become India’s first privately designed, developed and tested rocket in 2021.</li><li>Skyroot Aerospace is backed by Myntra founder <keyword id="705865" type="PERSON" weightage="20" keywordseo="Mukesh-Bansal">Mukesh Bansal</keyword> and other angel investors with $4.3 million in the bag and plans to raise another $15 million next year.</li></ul>India’s first-ever privately designed and developed rocket, Vikram-1, is a step closer to becoming a reality. Founded by two former scientists of the <keyword id="116095" type="ORGANIZATION" weightage="20" keywordseo="Indian-Space-Research-Organisation">Indian Space Research Organisation</keyword> (<keyword id="6358064" type="UNKNOWN" weightage="20" keywordseo="isro">ISRO</keyword>) — Pawan Kumar Chandana and Naga Bharath Daka — the company behind the rocket, Skyroot Aerospace, has successfully test-fired its first solid rocket propulsion stage demonstrator called Kalam-5. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[]]></cdata></div> Kalam-5 uses the exact same propellant, materials, and interface as the three solid propulsion stages of the Vikram-1 launch vehicle, according to Chandana. It is the first of the five Kalam engines that Skyroot plans to test. "The 'Vikram-1' rocket has three solid fuel-powered stages each with a burn time ranging between 80 and 100 seconds. The full scale solid fuel stage will be tested at the ISRO facility soon. The burn time will be 100 seconds," he said. With this milestone out of the way, the company is on-track to launch its <a href="https://www.businessinsider.in/science/space/news/skyroot-aerospace-successfully-tests-homegrown-rocket-engine-is-on-track-for-its-first-full-rocket-launch-by-2021/articleshow/77506716.cms">first full rocket next year.</a> "We will be signing the non-disclosure agreement with the Department of Space in order to get access to ISRO facilities. The full scale solid fuel stage will be tested at ISRO's rocket port in Sriharikota in Andhra Pradesh," Chandana added. <div type="image" title="3_edited" msid="79989150" hostid="261" caption="&amp;lt;p&amp;gt;Vikram-series of launch vehicles that Skyroot Aerospace plans to develop for India&amp;lt;/p&amp;gt;"></div> Why does the success of Kalam-5 matter? Propulsion systems are where the actual magic happens to get rockets off the planet and into space. If anything goes wrong, infamous results can range from pre-launch explosions to the rocket simply falling out of the sky. Making sure that the propulsion system not only works properly but also provides an adequate thrust to beat gravity is crucial to the success of any rocket. <div type="image" title="2_edited" msid="79989119" hostid="261" caption="&amp;lt;p&amp;gt;Kalam-5 test fired at private facility on December 22 in Nagpur&amp;lt;/p&amp;gt;"></div> Kalam-5 is a solid motor. These are high thrust, low-cost rocket engines with propellant in solid form. In addition to being cost-effective, they are also highly reliable with fewer moving parts. Right now, Kalam-5 gives a peak sea-level thrust of 5.3kN, can handle the pressure of 66 atmospheres and temperatures of up to 30,000 degrees Celsius. It is only one-fourth the size of the solid motor in Vikram 1’s third stage. “Kalam-5 uses 15 different advanced materials, nine different manufacturing processes and has zero moving parts,” Chandana explained. Skyroot is backed by investors like Solar Industries, Vedanshu Investments, and Myntra founder Mukesh Bansal. It has raised $4.3 million till now and is in the process of raising another $15 million in 2021. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/jack-ma-ant-group-asked-to-overhaul-its-business-model-by-china-central-bank/articleshow/79987683.cms">China's central bank wants Jack Ma's Ant Group to overhaul its business model</a> <a href="https://www.businessinsider.in/science/environment/news/top-10-most-expensive-natural-disasters-of-2020-in-the-world/slidelist/79986294.cms">Cyclone Amphan was the most expensive cyclone of 2020 and the fourth most expensive natural disaster overall</a>

India’s first-ever privately designed and developed rocket is a step closer to becoming a reality in 2021

<table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;padding:0pt 2pt 0pt 2pt;">Chandigarh </td><td style="border-left:solid #000000 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;"> </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;"> </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;"> </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;"> </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Constituency </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Current MP </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">BJP Candidate Name </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Congress Candidate Name </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">AAP candidate Names </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;padding:0pt 2pt 0pt 2pt;">Chandigarh </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:middle;padding:0pt 2pt 0pt 2pt;">Kirron Kher (BJP) </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Kirron Kher (Winner) </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Pawan Kumar Bansal </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Harmohan Dhawan </td></tr></tbody></table> The Bharatiya Janata Party (BJP)'s Bollywood candidate, <keyword id="6738" type="PERSON" weightage="20" keywordseo="Kirron-Kher">Kirron Kher</keyword>, has won a second-term as MP in the union territory of <keyword id="6360078" type="UNKNOWN" weightage="20" keywordseo="chandigarh">Chandigarh</keyword>. In close race against Congress' <keyword id="6419189" type="PERSON" weightage="20" keywordseo="pawan-kumar-bansal">Pawan Kumar Bansal</keyword>, Kher came out on top with 50.64% of the vote share while Bansal lagged behind with only 40.35%. The Union territory of Chandigarh has only one Lok Sabha constituency. The parliamentary seat is now being held by Kirron Kher, the BJP candidate who won the 2014 general elections from here. In these elections, Kirron Kher defeated Pawan Kumar Bansal of Congress with about a difference of 70,000 votes. The third place was claimed by AAP’s Gul Panag. The union territory went for polling during the last phase of elections in 2019 on April 19 and now awaits the results eagerly. Chandigarh presents a tough contesting scenario for the major political parties. The triangular contest in Chandigarh now sees the BJP and Congress candidates re-nominated following the 2014 elections. Hence the main contenders in the parliamentary elections 2019 are Kirron Kher (BJP), Pawan Kumar Bansal (Congress) and Harmohan Dhawan (AAP). The scene is a bit different as AAP has replaced Gul Panag with Harmohan Dhawan. Notably, he was a senior BJP leader who left the party and joined the AAP in November 2018. There is a strong possibility that Dhawan could cut a sizeable percentage of the Hindu votes as he had earlier supported Kirron Kher during the earlier Lok Sabha elections in the union territory of Chandigarh.

Chandigarh winner candidate list in Lok Sabha Election 2019

<ul><li>There’s only one seat up for grabs in Chandigarh and it’s going to be a close call between the Bharatiya Janata Party (BJP) and Congress.</li><li>The fight is between the BJP candidate, <keyword id="6738" type="PERSON" weightage="20" keywordseo="Kirron-Kher">Kirron Kher</keyword>, and Congress candidate, <keyword id="6419189" type="PERSON" weightage="20" keywordseo="pawan-kumar-bansal">Pawan Kumar Bansal</keyword>.</li><li>Kher is hoping that her star power and the ‘Modi wave’ will carry her through to a win. </li><li>For Bansal, this may be the last chance to prove his political prowess.</li></ul>Chandigarh only accounts for one seat of the <keyword id="4577611" type="PERSON" weightage="20" keywordseo="lok-sabha-election-2019">Lok Sabha election 2019</keyword>. What started out as a contest between 33 candidates is now a match between the National Democratic Alliance (NDA) and the United Progressive Alliance (UPA) to bring it home. C-Voter and Times Now VMR <a href="https://www.businessinsider.in/chandigarh-exit-poll-2019-for-lok-sabha-elections/articleshow/69399289.cms">exit polls</a> predict that this time around Chandigarh is likely to go back to Congress but India Today Axis claims that the Bharatiya Janata Party (BJP) is more likely to win. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.7470705000000001pt;border-right:solid #000000 0.7470705000000001pt;border-bottom:solid #000000 0.7470705000000001pt;border-top:solid #000000 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Chandigarh </td><td style="border-left:solid #000000 0.7470705000000001pt;border-right:solid #000000 0.7470705000000001pt;border-bottom:solid #000000 0.7470705000000001pt;border-top:solid #000000 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Leads-1/1 </td></tr><tr><td style="border-left:solid #000000 0.7470705000000001pt;border-right:solid #000000 0.7470705000000001pt;border-bottom:solid #000000 0.7470705000000001pt;border-top:solid #000000 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">BJP </td><td style="border-left:solid #000000 0.7470705000000001pt;border-right:solid #000000 0.7470705000000001pt;border-bottom:solid #000000 0.7470705000000001pt;border-top:solid #000000 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">1 </td></tr><tr><td style="border-left:solid #000000 0.7470705000000001pt;border-right:solid #000000 0.7470705000000001pt;border-bottom:solid #000000 0.7470705000000001pt;border-top:solid #000000 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Congress </td><td style="border-left:solid #000000 0.7470705000000001pt;border-right:solid #000000 0.7470705000000001pt;border-bottom:solid #000000 0.7470705000000001pt;border-top:solid #000000 0.7470705000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">0 </td></tr></tbody></table> Data from Election Commission Either way, it’s still going to be a close call. The majority will be decided by which party manages to go further, beyond the 40% vote share mark. BJP’s celebrity-turned-politician candidate, Kirron Kher, is pitted against Congress’ Pawan Kumar Bansal and Harmohan Dhawan, the candidate from the Aam Aadmi Party (AAP). Kher is currently leading the vote share but margin is growing thinner, currently recording a margin of 3,756. Kher glides the ‘Modi wave’ The former Bollywood star, Kher, promised to improve the sanitation and cleanliness situation in Chandigarh when she won the Lok Sabha election in 2014. Instead the city saw its name drop from second to 20th place on top clean cities index — the Swachh Survekshan. But Kher argues that she’s done more in her five years of power than Bansal in his 15 years as a Member of Parliament. By her own admission, the ‘Modi wave’ will be one of the primary factors that will help her sail through to a win in the city. Dhawan called out Kher for being a ‘parachute dropped’ candidate who only showed during the election and was found to be absent during much of her tenure. During the last Lok Sabha Election in 2014, Kher scraped past Bansal to secure the win by a record margin of 69,642 votes and the popularity of AAP’s Gul Panag cut the votes that would have gone to Congress. AAP’s popularity petering out in the union territory could push those votes back to Congress, especially since a lot of the AAP candidates that people voted for in 2014 are now members of Congress. Bansal’s political future hangs in the balance at the age of 78. Even his claim to this year’s election faced stiff competition from Navjot Kaur Sidhu and Manish Tiwari. This may be the last chance to prove his political prowess.

Chandigarh Lok Sabha Election 2019 Result: Kirron Kher outrunning Pawan Kumar Bansal by just over 7,000 votes

The Lucknow Development Authority (LDA) has submitted its initial probe report on the Levana Suites hotel fire, recommending action against 22 engineers and zonal officers for allegedly conniving with the builder and turning a blind eye to illegal construction activity. The building now faces demolition since it was illegally constructed. The fire on Monday left four people dead, while seven others suffered burn injuries. The LDA has also lodged an FIR at the Hazratganj police station against <keyword id="14907942" type="General" weightage="80" keywordseo="mukesh-jasnani" source="Orion">Mukesh Jasnani</keyword> of M/S Bansal Construction and his partners for carrying out commercial activity of running a hotel on a residential plot. LDA Vice-Chairman Indramani Tripathi constituted the probe committee headed by the Authoritiy's Secretary <keyword id="3246340" type="General" weightage="80" keywordseo="pawan-kumar-gangwar" source="Orion">Pawan Kumar Gangwar</keyword> to fix accountability for the incident and the report was submitted late on Monday night. After the initial probe, the committee found engineers posted in 'Zone six' (which includes Hazratganj) since July 2, 2017 responsible for the incident. The 22 engineers/zonal officers indicted by the LDA inquiry team include executive engineers Arun Kumar Singh, O.P. Mishra (both retired), superintending engineers <keyword id="5155996" type="General" weightage="80" keywordseo="zahiruddin" source="Orion">Zahiruddin</keyword> and <keyword id="277708" type="General" weightage="80" keywordseo="kamaljeet-singh" source="Orion">Kamaljeet Singh</keyword>, assistant engineers O.P. Gupta, Rakesh Mohan, Radhey <keyword id="162719" type="General" weightage="80" keywordseo="shyam-singh" source="Orion">Shyam Singh</keyword>, Vinod <keyword id="359036" type="General" weightage="80" keywordseo="kumar-gupta" source="Orion">Kumar Gupta</keyword>, Amar Kumar Mishra, <keyword id="367444" type="General" weightage="80" keywordseo="nagendra-singh" source="Orion">Nagendra Singh</keyword> and Ismail Khan. Similarly, the junior engineers include Rajeev Kumar Srivastava, J.N. Dubey, J.D. Singh, Ravindra Srivastava, Udaiveer Singh, <keyword id="1250764" type="General" weightage="80" keywordseo="mohammad-ismail-khan" source="Orion">Mohammad Ismail Khan</keyword>, Anil Mishra, P.K. Gupta, <keyword id="14907940" type="General" weightage="80" keywordseo="sushil-kumar-varma" source="Orion">Sushil Kumar Varma</keyword>, Ambrish Sharma and <keyword id="14907941" type="General" weightage="80" keywordseo="ranganath-singh" source="Orion">Ranganath Singh</keyword>. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/karnataka-govt-releases-300-crore-to-manage-flood-situation-in-bengaluru/articleshow/94018181.cms">Karnataka govt releases ₹300 crore to manage flood situation in Bengaluru</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-has-held-its-own-despite-sharp-depreciation-in-other-currencies-rbi-governor/articleshow/94015738.cms">Rupee has held its own despite sharp depreciation in other currencies: RBI Governor</a>

22 engineers, officers found guilty in Lucknow hotel fire probe

The conservation and promotion of India’s art and cultural heritage aren't a national matter nor is it a big concern of the government. <keyword id="719465" type="PERSON" weightage="20" keywordseo="Ayaan-Ali-Bangash">Ayaan Ali Bangash</keyword>, a known Sarod player thinks that Indian government is not needed for increasing popularity of Indian arts and culture,”It is very important to be connected to our roots but if you’re not able to capture the audience with your music, then you can’t blame any third party for not promoting your art.” 
 Very few corporate companies notably want to promote art and culture and <keyword id="28126" type="CITY" weightage="20" keywordseo="HCL">HCL</keyword>, foraying from it’s IT space, has been organizing HCL Concerts for over 18 years, dedicated to identifying, evolving and promoting talent rooted in the glorious heritage of Indian classical performing arts. 
 
<a href="http://www.businessinsider.in/exclusive-ace-angel-investor-sanjay-mehtas-true-life-experiences-that-makes-his-investments-in-startups-fool-proof/articleshow/58061818.cms">ALSO READ: Exclusive: Ace Angel Investor Sanjay Mehta’s true-life experiences that make his investments in startups fool-proof</a> 
 
Concerts under the umbrella of HCL Concerts are organized regularly in Delhi NCR, Chennai and Lucknow across various venues throughout the year. These concerts are free to attend and are often enriched by the presence of luminaries in the field of Indian classical performing arts. 
 “You don’t know the kind of audience that your art will attract; Indian classical music is a sort of genre that sees a different kind of people and art has no space for clichés,” said <keyword id="6517626" type="PERSON" weightage="20" keywordseo="Shubha-Mudgal">Shubha Mudgal</keyword>, who believes that HCL concerts have been marketed well to attract all kinds of people from all walks of life. 
 
<a href="http://www.businessinsider.in/exclusive-an-angel-investor-whose-midas-touch-with-crypto-currency-is-redefining-the-future-of-start-up-investments/articleshow/58062121.cms">ALSO READ: Exclusive: An Angel investor whose Midas touch with Crypto-currency is redefining the future of start-up investments</a> 
 Over the years, HCL Concerts has evolved into a unique platform for the exceptionally talented veterans as well as upcoming artists – be it dancers, vocalists or instrumentalists. Over 400+ artists have graced this platform and have contributed towards reinvigorating the Indian classical performing arts. While there have been spellbinding performances by legends such as Pandit Shivkumar Sharma, Pandit Hariprasad Chaurasia, and Pandit Vishwamohan Bhatt, HCL Concerts has also provided a platform for the rare genres of performing arts like Dhrupad, Rudra Veena, and <keyword id="4401683" type="UNKNOWN" weightage="20" keywordseo="gaudiya-nritya">Gaudiya Nritya</keyword> to name a few. 
 
The recently concluded HCL concerts was a special one with it spanning over 3 days in Delhi NCR across Delhi, Gurgaon, and Noida. 
 
<a href="http://www.businessinsider.in/read-what-rohit-bansal-and-kunal-bahl-mailed-snapdeal-employees-amidst-flipkart-acquisition-speculations/articleshow/58108189.cms">ALSO READ: Read what Rohit Bansal and Kunal Bahl mailed Snapdeal employees amidst Flipkart acquisition speculations</a> 

	 Artists like <keyword id="1277440" type="PERSON" weightage="20" keywordseo="Amaan-Ali-Bangash">Amaan Ali Bangash</keyword>, Ayaan Ali Bangash, Kaushiki Chakraborty, Niladri Kumar, Purbayan Chatterjee, Rakesh Chaurasia, Shubha Mudgal and many more notable one were a part of this concert series and they had very interesting insights about what works and doesn’t in the current scenario when it comes to Indian traditional music. 
	 
	Amaan Ali Bangash, who is a popular Sarod player said that the perception that Indian classical music isn’t cool,” Very few classical musicians appeal to the audience whether it is Indian or otherwise. You might like Jazz as a genre even if you like one artist. The key is to find the artist or instrument that inspires you in Indian classical music. I don’t agree that Indian classical music is dying.”

Indian Classical Music needs a platform to shine and the government isn’t it

Online fashion rental platform Flyrobe has raised around $1.7million in seed funding led by <a href="http://www.businessinsider.in/searchresult.cms?query=Sequoia+Capital&amp;sortorder=effectivedate">Sequoia Capital</a>. The deal was closed last year and the official announcement is expected to be made later this month. 
 
Biggies from the startup industry including <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal&amp;sortorder=effectivedate">Snapdeal</a> founders <a href="http://www.businessinsider.in/searchresult.cms?query=Rohit+Bansal+&amp;sortorder=effectivedate">Rohit Bansal </a>and <a href="http://www.businessinsider.in/searchresult.cms?query=Kunal+Bahl&amp;sortorder=effectivedate">Kunal Bahl</a>, and <a href="http://www.businessinsider.in/searchresult.cms?query=FreeCharge&amp;sortorder=effectivedate">FreeCharge</a> founders Sandeep Tandon and <a href="http://www.businessinsider.in/searchresult.cms?query=Kunal+Shah&amp;sortorder=effectivedate">Kunal Shah</a> invested in this round. The filings show Zishaan Hayath, co-founder of Powai Lake Ventures, and Abhishek Jain, former associate director at Temasek Holdings Advisors India were the other investors 
. 
What’s so special? Mumbai-based Flyrobe is an on-demand apparel rental platform that offers premium designer wear and branded outfits on rent. The company has joined hands with designer labels like Outhouse, Masaba Gupta, <keyword id="667" type="PERSON" weightage="20" keywordseo="Ritu-Kumar">Ritu Kumar</keyword> and Shehla Khan. 
 
Who are these people? 
Omapal Technologies, the company that runs Flyrobe was founded in September 2015 by IIT Bombay alumni Shreya Mishra, Pranay Surana and Tushar Saxena. The founders – Sh 
reya Mishra, Pranay Surana, and Tushar Saxena have come together over the belief that ‘shared economy’ in fashion can work wonders. 
 
Before starting Flyrobe, Mishra was working as an analyst with Everstone Capital, Surana has earlier worked as a senior analyst at Deutsche Bank and Saxena was earlier chief technology officer at Triptainment Technologies. 
 
Troubled times for Sector 
The apparel rental space has been facing tough times recently. Ethnic market-place, Craftsvilla <a href="http://www.vccircle.com/news/technology/2016/04/28/ethnic-products-marketplace-craftsvilla-buys-clothing-rental-startup" target="_blank">acqui-hired</a> women clothing rental platform F2SO4 and Bangalore-based online apparel rental platform Klozee <a href="http://techcircle.vccircle.com/2016/05/13/online-apparel-rental-platform-klozee-shuts-down-co-founders-join-livspace/" target="_blank">closed</a> operations. 
 
Others startups operating in this space include Revamp My Closet, which was also recently acqui-hired by Spoyl, another online platform. 
 
Big Money to be made, apparently 
<a href="http://www.businessinsider.in/searchresult.cms?query=PricewaterhouseCoopers&amp;sortorder=effectivedate">PricewaterhouseCoopers</a> estimates the global sharing economy will grow from $15 billion today to $335 billion by 2025. However, its yet to pick up big time when it comes to apparel. Transportation, accommodation, and food and beverages sectors are doing better. 
 
Flyrobe estimates the fashion rental market, including western and ethnic wear is worth $4-5 billion today. 
 
Rental economy picking up? 
In India, the idea of rented apparel has been reserved to graduation, fancy dress competitions and theme parties. 
 
However, as large scale immigration to bigger cities across the country picks up, investor interest too is growing. Back in November, furniture rental company <a href="https://www.rentomojo.com/" target="_blank">RentoMojo</a> raised $2 million in funding and Klozee raised a seed round from TracxnLabs and angels in August. 
 
<a href="http://timesofindia.indiatimes.com/photo/51891607.cms">Image Source</a>

This unique online apparel rental
portal just raised one of the largest funding rounds in recent times

<ul><li>Saksham, the <keyword id="13004400" type="General" weightage="20" keywordseo="Entrepreneurship-Cell-of-IIM-Udaipur" source="Orion">Entrepreneurship Cell of IIM Udaipur</keyword>, is organising its third and largest e-Summit 2022 with the theme “Zilch to Zillion: Celebrating a Decade of Unicorns”.</li><li>The summit will be held on 23rd January 2022 virtually.</li><li>Representatives from top-tier VCs like Accel, Chiratae Ventures, Tanglin Venture Partners and Times Internet will also be joining as speakers and panelists.</li></ul>Saksham, the Entrepreneurship Cell of Indian Institute of Management, Udaipur, is organising its third and largest E-Summit 2022 with the theme ‘Zilch to Zillion: Celebrating a Decade of <keyword id="2023017" type="General" weightage="80" keywordseo="unicorns" source="Orion">Unicorns</keyword>’ on 23rd January 2022 in a virtual format. The aim of the summit is to honour the efforts and celebrate the accomplishments of all rising entrepreneurs. The E-summit will provide a forum to brainstorm and discuss innovation and ingenuity demonstrated by Indian entrepreneurs that have helped India’s unicorns (companies with valuation more than $1B) gain a combined market cap of $240 billion. Even as India is rapidly enhancing its start-up ecosystem, it still needs to climb 67 positions to top the Global Entrepreneurship Index, an indicator of the overall entrepreneurial potential of a nation. Prof. Janat Shah, Director, <keyword id="349500" type="General" weightage="20" keywordseo="IIM-Udaipur" source="Orion">IIM Udaipur</keyword> said, “Management schools in India are emerging as the breeding grounds for start-ups, especially Unicorns, by creating an enabling environment in curricula and bringing together key enablers of the ecosystem.” “Entrepreneurship is one of the core values of IIM Udaipur, and the institute is committed to nurturing future leaders and entrepreneurs who will power their organizations, create innovations in products and services in the emerging economies,” he added. Yashish Dahiya (Co-Founder and CEO, Policy Bazaar) and <keyword id="237838" type="General" weightage="20" keywordseo="arjun-mohan" source="Orion">Arjun Mohan</keyword> (CEO, upGrad) will throw light on how to shape the entrepreneurship landscape and leapfrog to the top league, as the keynote speakers. Other eminent speakers at the E-Summit ’22 are Prashant Pitti (Co-founder, EaseMyTrip), Ishan Bansal (Co-founder, Groww) and <keyword id="3014325" type="General" weightage="20" keywordseo="amit-kumar-agrawal" source="Orion">Amit Kumar Agrawal</keyword> (Founder, NoBroker), who will all be covering their experiences and learnings from building scaled companies in India. Representatives from top-tier venture capital firms like Accel, Chiratae Ventures, Tanglin Venture Partners and Times Internet will also be a part of the summit as speakers and panelists. The event is supported by a network of corporates, incubators, media partners, including Secure Meters, TiE Udaipur and Rajasthan Venture Capital Fund. Top upcoming D2C (direct-to-consumer) startups like Ugaoo, InACan and Bombay Shaving company are also partnering with the E-Summit ’22 as “Gifting Partner”, “Experience Partner” and “Grooming Partner” respectively. In the past decade, India has transformed its start-up ecosystem into becoming the third-largest in the world. In 2021, India added 46 Unicorns, doubling the number to over 90. In 2022, It is estimated that over 50 more unicorns will be added to the Indian start-up ecosystem. Disclaimer: Business Insider India is a media partner to the event.

IIM Udaipur kicks off its third Entrepreneurship Summit, India’s unicorns to be in focus

<a href="http://www.businessinsider.in/searchresult.cms?query=infosys&amp;sortorder=effectivedate">Infosys</a> CEO <a href="http://www.businessinsider.in/searchresult.cms?query=vishal+sikka&amp;sortorder=effectivedate">Vishal Sikka</a> dismissed rumours over wrongdoing in <keyword id="4172690" type="UNKNOWN" weightage="20" keywordseo="panaya-acquisition">Panaya acquisition</keyword> and said former CFO <a href="http://www.businessinsider.in/searchresult.cms?query=rajiv+bansal&amp;sortorder=effectivedate">Rajiv Bansal </a>did not raise any red flags during the deal. 
 Sikka said people are spreading wrong information and taking advantage of <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword> controversy. 
 
READ ALSO: <a href="http://www.businessinsider.in/slideshows/warroom/infosys-r-seshasayee-vishal-sikka-say-no-battle-between-board-and-promoters-here-are-10-highlights-from-their-speech/slideshow/57130029.cms">Infosys’ R Seshasayee, Vishal Sikka say ‘no battle between board and promoters’. Here are 10 highlights from their speech</a> 
 
"There is a lot of irresponsibility and maliciousness in what you see. You don't appreciate that... the people who are feeding the wrong stories to the media. Lot of people, bystanders, the Monday morning quarterbacks. It is a price you pay for being at Infosys. I try to not lit get to me. Life is too short,” said Sikka. 
 
As per media reports, Bansal had raised red flags and expressed reservations during the Panaya acquisition. 
 "There is nothing there. He was CFO at the time we went through the process. It was the first time we were doing it, so we were extra careful. My view is that too big a deal has been made out of <keyword id="347003" type="PERSON" weightage="20" keywordseo="Rajiv-Bansal">Rajiv Bansal</keyword>'s severance, David's (Kennedy) severance, my compensation and Punita's (Kumar-Sinha) appointment,” said Sikka.

People are feeding wrong info, Panaya deal is clean: Vishal Sikka

Amid looming uncertainties, <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> co-founders <keyword id="219793" type="PERSON" weightage="20" keywordseo="Kunal-Bahl">Kunal Bahl</keyword> and <keyword id="396598" type="PERSON" weightage="20" keywordseo="Rohit-Bansal">Rohit Bansal</keyword> sent out an e-mail to employees saying the current phase is an "inflection point" for the company. They also asked the teams to take tough decisions in its pursuit of profitability. 
 
Reportedly, the communication, from Bahl and Bansal, comes at a time when Snapdeal is downsizing and shutting its non-core businesses so as to conserve cash and extend its runway as fresh funding has been hard to come by. 
 
Recently, the company announced the closure of its consumer-to-consumer marketplace Shopo last week and now the e-tailer has now disbanded its SD Instant team. 
 Launched across Delhi, Mumbai and <keyword id="6354321" type="CITY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword> to deliver FMCG and daily essential goods, the service is now only operational in Gurgaon. 
 Snapdeal's cost-cutting drive has coincided with a string of senior level exits. The latest being <keyword id="1833544" type="PERSON" weightage="20" keywordseo="Amit-Maheshwari">Amit Maheshwari</keyword>, fashion head of Snapdeal, who had been elevated as the CEO of Exclusively, the e-tailer's premium and luxury fashion goods platform, which was shuttered last year. 
 
Maheshwari has left the company after a four-year stint, sources aware of the development told TOI. He joins other old-timers who have recently quit including Tony Navin, Sandeep Komaravelly and Abhishek Kumar

This is what Snapdeal founders told their staff amid downsizing

Rift between the founders and the management board in <a href="http://www.businessinsider.in/searchresult.cms?query=infosys&amp;sortorder=effectivedate">Infosys </a>has been widening since more than one year now. The two sides are at loggerheads over the large severance paid to former <a href="http://www.businessinsider.in/searchresult.cms?query=rajiv+bansal&amp;sortorder=effectivedate">CEO Rajiv Bansal</a>, disclosed in 2016, and<a href="http://www.businessinsider.in/searchresult.cms?query=vishal+sikka&amp;sortorder=effectivedate"> CEO Vishal Sikka</a> ($11million). 
 
The founders are upset and as per several media reports, some promoters were also upset with the appointment of Punita Kumar-Sinha, an investment banker and wife of Union minister Jayant Sinha, as an independent director. 
 However, the main reason behind the dispute is governance issue and “violation of core <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> values”. 
 
ET reported some of the founders have held the board responsible for what they perceive to be its inability to enforce governance norms. In July 2016, one of Infosys' prominent promoters reached out to a top legal professional in Mumbai. 
 The agenda: to hunt for a co-chairman for Infosys. This, despite the fact that <keyword id="484178" type="PERSON" weightage="20" keywordseo="R-Seshasayee">R Seshasayee</keyword> had been serving as Infosys non-executive chairman for just a year, since his appointment in June 2015. 
 
"The idea was to look for someone who understood core values of Infosys,” an executive told ET. 
 
A few names were thrown up as candidates, including a former Infosys finance hotshot and a retired founder. But the idea fizzled out as Seshasayee stepped down on July 28 as non-executive vice-chairman of Ashok Leyland - a post he had held since 2011- to focus on Infosys. 
 
Industry experts told ET the situation is not yet past the point of no return. "The end goal is the promoters, the board and the management should be aligned. I don't think the situation is irredeemable. If the founders air their problems, this could still be resolved. This isn't like the Tata case,” Shriram Subramanian, MD of shareholder advisory firm InGovern, told ET. 
 
Meanwhile, efforts are going on resolve the dispute. ET quoted two people saying among those involved is a prominent investor in the company - Baburaj Pillai. 
 
Reports of disputes over "internal governance issues, between some of the company's founders and a management keen on charting a new path have spurred efforts to broker peace by the Singapore-based fund manager as well as other influential people, said the sources cited above. 
 
Pillai, the founder of investment firm Arohi Capital, met with co-founder <a href="http://www.businessinsider.in/searchresult.cms?query=narayana+murthy&amp;sortorder=effectivedate">NR Narayana Murthy </a>and chief executive officer <keyword id="6369763" type="PERSON" weightage="20" keywordseo="Vishal-Sikka">Vishal Sikka</keyword> late last year, according to people aware of the talks. 
 
"Pillai met with both of them to try and create common ground. He does not want Sikka to be forced to leave and he also does not want Murthy to feel as though his voice is not important,” one of the people aware of the discussions told ET. 
 
"With regard to concerns on governance being discussed in the media, we would like to reiterate that all decisions have been made bona fide, in the overall interest of the company, and that full disclosures have already been made thereon,” Infosys told ET in a statement.

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