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<ul><li>The web series <keyword id="10079277" type="UNKNOWN" weightage="20" keywordseo="scam-1992">Scam 1992</keyword>, directed by the acclaimed filmmaker Hansal Mehta is based on a book titled 'The Scam: Who Won, Who Lost, Who Got Away.' </li><li>The series is about the famous stockbroker Harshad Mehta, popularly known as the 'Amitabh Bachchan of Stock Market.' </li><li>The web series has garnered a strong response on social media sites, making it one of Twitter's top trends. </li></ul>#Scam1992 has garnered a strong response on social media sites, making it one of Twitter's top trends. Scam 1992: The Harshad Mehta Story, which premiered today on <keyword id="3163762" type="PERSON" weightage="20" keywordseo="SonyLIV">SonyLIV</keyword>, is one of the highlighted topics of discussion not only among movie or web series enthusiasts but almost for everyone in the country. The web series, directed by the acclaimed filmmaker Hansal Mehta is based on a book titled 'The Scam: Who Won, Who Lost, Who Got Away' by journalist Debashis Basu and Sucheta Dalal. The series is about the famous stockbroker Harshad Mehta, popularly known as the 'Amitabh Bachchan of Stock Market.' Watch the trailer of Scam 1992: The Harshad Mehta Story here: <div type="Youtube" id="ISORfez27og" title="Scam 1992 – The Harshad Mehta Story | Official Trailer | Streaming from 09-10-2020" thumbUrl="https://i.ytimg.com/vi/ISORfez27og/mqdefault.jpg"></div> Scam 1992: The Harshad Mehta Story — a brief look at the scandal Scam 1992: The Harshad Mehta Story follows the meteoric rise and fall of the stockbroker, Harshad Mehta. It is the story of one of the biggest financial frauds carried out in 1992 that shook the Indian stock market and forced the market regulator to change the rules of the game on Dalal Street. Registered broker Harshad Mehta and his partners were accused of engaging in a massive stock manipulation on India's largest stock exchange, BSE, in 1992 by taking advantage of loopholes in the banking system. Mehta was accused of conspiring with the bank employees for obtaining fake bank receipts (BRs) issued, which he used in other banks to woo them to lend him money. He used these funds to <a href="https://www.thequint.com/explainers/where-is-the-rs-24000-crore-lost-in-the-harshad-mehta-securities-scam">buy a large amount of shares at a premium</a>. When veteran journalist Sucheta Dalal uncovered this scam, the banks realised that they owned the fake bank receipts. This led to the unraveling of the system. <div type="image" title="Harshad Mehta" msid="78571542" hostid="261" caption="&amp;lt;p&amp;gt;Harshad Mehta &amp;lt;/p&amp;gt;"></div> Mehta was convicted by the Bombay High Court and India's apex court for his part in a financial scandal valued at ₹500 crores, which took place on the BSE. The scandal exposed various loopholes in the Indian banking system and the stock market transaction system, which also forced SEBI to introduce new rules to cover the loopholes. Out of 27 criminal charges brought against Mehta, he was only convicted of four, before he died in 2001. The cast of Scam 1992: The Harshad Mehta Story The web series cast includes Pratik Gandhi, Shreya Dhanwanthary, Satish Kaushik, Sharib Hashmi, Anant Mahadevan, Nikhil Dwivedi, KK Raina and Lalit Parimoo, among others. SEE ALSO: <a href="https://www.businessinsider.in/entertainment/news/mira-nairs-a-suitable-boy-to-premiere-on-netflix-in-october/articleshow/78571222.cms" data-type="tilCustomLink">Mira Nair's 'A Suitable Boy' to premiere on Netflix in October</a> <a href="https://www.businessinsider.in/international/news/world-food-programme-wins-2020-nobel-peace-prize/articleshow/78571169.cms" data-type="tilCustomLink">World Food Programme wins 2020 Nobel Peace Prize</a>

Scam 1992: The Harshad Mehta Story is streaming on SonyLIV— Here's what the infamous scam was all about

<ul class="summary-list"><li>America's newest <keyword id="25931" type="COMPANY" weightage="60" keywordseo="billionaire">billionaire</keyword> is Apoorva Mehta, the 33-year-old founder of grocery delivery app <keyword id="1673867" type="COMPANY" weightage="60" keywordseo="Instacart">Instacart</keyword>.</li><li><a href="https://www.forbes.com/sites/jenniferwang/2020/06/17/instacart-founder-apoorva-mehta-becomes-a-billionaire/?utm_source=TWITTER&amp;utm_medium=social&amp;utm_content=3428752668&amp;utm_campaign=sprinklrForbesMainTwitter#6d2b9e867e026d2b9e867e02">Forbes</a> added Mehta to its <keyword id="6393637" type="UNKNOWN" weightage="60" keywordseo="Billionaires">Billionaires</keyword> List after <a href="https://www.businessinsider.com/instacart-doordash-reach-sky-high-valuations-2020-6">Instacart's latest funding round</a>, which valued the app at $13.7 billion (up from an $8 billion valuation in 2018) and Mehta's estimated 10% stake in the business at $1.2 billion.</li><li>Instacart's order volume has surged as shoppers avoid grocery stores during the pandemic, growing as much as 500% over the past 12 months, <a href="https://www.forbes.com/sites/jenniferwang/2020/06/17/instacart-founder-apoorva-mehta-becomes-a-billionaire/?utm_source=TWITTER&amp;utm_medium=social&amp;utm_content=3428752668&amp;utm_campaign=sprinklrForbesMainTwitter#6d2b9e867e026d2b9e867e02">Forbes</a> reported.</li><li>The grocery delivery app saw <a href="https://e.businessinsider.com/click/20605033.4/aHR0cHM6Ly9pbnRlbGxpZ2VuY2UuYnVzaW5lc3NpbnNpZGVyLmNvbS9wb3N0L3RoZS1vbmxpbmUtZ3JvY2VyeS11cGRhdGUtdGhlLWNvcm9uYXZpcnVzLXBhbmRlbWljLWlzLXRocnVzdGluZy1vbmxpbmUtZ3JvY2VyeS1pbnRvLXRoZS1zcG90bGlnaHQtaW4tdGhlLXVzLWhlcmUtYXJlLXRoZS1wbGF5ZXJzLXRoYXQtd2lsbC1lbWVyZ2UtYXQtdGhlLXRvcC1vZi10aGUtbWFya2V0LTIwMjAtNQ/5d233c18f730436f2414784fB22f56943" target="_blank" rel="noopener">record</a> demand as of mid-April.</li><li>Before founding Instacart in 2012, Mehta earned an engineering degree from the University of Waterloo and worked at Amazon, Blackberry, and Qualcomm, per <a href="https://www.forbes.com/profile/apoorva-mehta/#651ccb4f7417">Forbes</a>.</li><li>Mehta had <a href="https://www.latimes.com/business/technology/la-fi-himi-apoorva-mehta-20170105-story.html">20 failed start-ups</a> before Instacart, The Los Angeles Times reported in 2017.</li></ul>

Instacart founder Apoorva Mehta is now a billionaire, Forbes says

<ul><li><keyword id="128682" type="General" weightage="20" keywordseo="netflix" source="Orion">Netflix</keyword> enters into a longer partnership with Hansal Mehta for more web series like the Scoop.</li><li>Netflix will be engaged in the entire creative process from scripting to marketing and distribution.</li><li>Netflix has had a successful year across series and films with titles such as Khakee - The Bihar Chapter, Rana Naidu, Class, Mission Majnu, Chor Nikal Ke Bhaga, Kathal among others.</li></ul>After the runaway success of Scoop, a web series based on the life of a crime journalist, Netflix has announced a multi-year series partnership with filmmaker Hansal Mehta. Scoop was Mehta’s maiden series on the streaming platform which was inspired by a court case involving journalist Jigna Vora, who was accused of allegedly conspiring with gangster Chota Rajan in the murder of another prominent journalist in 2011. Taking this collaboration forward, Hansal will create multiple series for Netflix in the coming years. Scoop has been called a genre-defining series inspired by crime reporter Jigna Vora’s book ‘Behind Bars in Byculla: My Days in Prison.’ Audiences and critics alike have been captivated by the deeply layered characters and compelling storylines, hailing it as one of the most binge-worthy series of the year. Mehta is a National Award winning director instrumental in delivering many critically acclaimed films and series including Aligarh, Shahid, Citylights and Scam 1992: The Harshad Mehta Story. “As a filmmaker, the idea of creating diverse and dynamic stories constantly keeps me on my toes. What excites me about this partnership with Netflix, which is home to some of the finest talent, is the potential for my work to reach viewers across the world. As was the case with Scoop, Netflix is engaged in the creative process right from scripting, all the way to marketing and distribution which is critical for the success of any creative collaboration. This long-term partnership with them is only going to empower me to dive into a variety of undiscovered stories,” he said. Over the years, docuseries and stories based on real life scams and personalities have captured the imaging of viewers. Another such series by Netflix was Bad Boy Billionaires: India, which documents the major financial scams that rocked India. These included some very colourful personalities like liquor baron <keyword id="14678" type="General" weightage="50" keywordseo="vijay-mallya" source="Orion">Vijay Mallya</keyword>, diamantaire Nirav Modi and Subrata Roy. According to Netflix, the investigative docu series explored the greed, fraud and corruption that built up — and ultimately brought down — India’s most infamous tycoons. Monika Shergill, Vice President - Content, Netflix India, said “Hansal is a master of his craft and has an eye for spotting stories that have a broad appeal and are relevant to a wide audience. Being a nuanced storyteller, he is able to tell these stories like no other. Scoop marks yet another success for our series line-up this year, and with this partnership we look forward to never before seen stories that audiences will love.” Netflix has had a successful year across series and films with titles such as Khakee - The Bihar Chapter, Rana Naidu, Class, Mission Majnu, Chor Nikal Ke Bhaga, Kathal and more.

Netflix taps Hansal Mehta for multi-year partnership following success of ‘Scoop’

<ul><li>Mukesh Ambani became a grandfather, today, after his son Akash Ambani and daughter-in-law Shloka Mehta gave birth to a baby boy in Mumbai. </li><li>This is the first child of Shloka Mehta and Akash Ambani after the couple tied the knot in March 2019. </li><li>The 63-old Ambani is the richest man of Asia and has a net wealth of $77.2 billion, according to Forbes.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Asia's richest man and the owner of the most valued company of India, Mukesh Ambani became a grandfather after his son Akash Ambani, and daughter-in-law Shloka Mehta gave birth to a baby boy in Mumbai. "Nita and Mukesh Ambani are delighted to become grandparents for the first time, as they welcomed the great-grandson of Dhirubhai and Kokilaben Ambani," the family said in a statement, according to <a href="https://www.cnbctv18.com/india/shloka-akash-ambani-become-parents-of-baby-boy-7694741.htm">CNBCTV18</a>. The statement <a href="https://www.cnbctv18.com/india/shloka-akash-ambani-become-parents-of-baby-boy-7694741.htm">reportedly </a>mentioned that both mother and son are doing well. <div type="javascript" title="Instagram" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> Shloka Mehta is the daughter of diamantaire Russell Mehta and Mona Mehta. The couple were reportedly school friends who met at Dhirubhai Ambani school. And, got engaged in June 2018 before getting married last year, which was attended by some of the world's most rich and powerful including Hillary Clinton, Alphabet CEO Sundar Pichai and former British PM Tony Blair. This is the first child of Shloka Mehta and Akash Ambani after the couple tied the knot in March 2019. The 63-old Ambani is the richest man of Asia and has a net wealth of $77.2 billion, according to Forbes. Ambani's have three children — twins Akash and Isha, and Anant. Akash Ambani is the eldest son of the family. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/facebook-hit-with-2-massive-antitrust-lawsuits-from-the-ftc-and-46-states-seeking-to-spin-off-instagram-and-whatsapp/articleshow/79652195.cms" data-type="tilCustomLink">Facebook hit with 2 massive antitrust lawsuits from the FTC and 46 states seeking to spin off Instagram and WhatsApp</a> <a href="https://www.businessinsider.in/stock-market/news/airbnb-prices-ipo-at-68-per-share-will-raise-3-5-billion/articleshow/79653812.cms" data-type="tilCustomLink">Airbnb prices IPO at $68 per share, will raise $3.5 billion</a>

Asia's richest man now has a grandson

<a href="https://www.businessinsider.com/category/sp-netflix-hr"></a><div type="image" title="Manish Mehta, Global Head of Human Resources at BlackRock" height="1582" width="2110" msid="90548517" hostid="261"></div><ul class="summary-list"><li>Manish Mehta is the global head of <keyword id="12266433" type="UNKNOWN" weightage="60" keywordseo="human-resources" source="Orion">human resources</keyword> at the <a href="https://www.thebalance.com/which-firms-have-the-most-assets-under-management-4173923" target="_blank" rel="noopener">largest investment firm</a> in the world. </li><li>He is spearheading inclusive hiring practices and employee well-being programs at <keyword id="11965073" type="UNKNOWN" weightage="60" keywordseo="blackrock" source="Orion">BlackRock</keyword>.</li></ul>Unlike many <keyword id="11947989" type="UNKNOWN" weightage="60" keywordseo="hr" source="Orion">HR</keyword> professionals, Manish Mehta took a more scenic route to his position in human resources.Mehta leads the human resources team at BlackRock, the <a href="https://www.thebalance.com/which-firms-have-the-most-assets-under-management-4173923" target="_blank" rel="noopener">largest investment management firm</a> in the world, with over 16,000 employees and $9.5 trillion in assets under management. Prior to being promoted to BlackRock's global head of human resources in 2020, Mehta served as the company's head of markets and investments for BlackRock's ETF and indexing business, and holds degrees in engineering, computer science, and business. "HR chose me," Mehta said. "I did not choose HR." A year ago, BlackRock <a href="https://careers.blackrock.com/life-at-blackrock-2/diversity-equity-and-inclusion/" target="_blank" rel="noopener">publicly committed</a> to increasing the diversity of its workforce. The company is now on track to increase the representation of Black and Latino employees by 30% and the representation of women in leadership to over 32% by 2024, Mehta said. For his ongoing work helping the firm reach its targets, Mehta was recognized as one of <a href="https://www.businessinsider.com/human-resources-leaders-redefining-innovation-inclusion-2022-3" target="_blank" rel="noopener">Insider's 2022 HR innovators</a>."Our people are our most important asset at BlackRock," Mehta said. "We believe that it is crucial to continuously offer resources that will enable employees to bring their best selves to work, especially as we navigate a new world that blurs the lines between work and personal space." Over the past year, 48% of BlackRock's new hires were women, while 15.3% of US hires identify as Black, 8.9% identify as Latinx, and 28.5% identify as Asian, Mehta said.Additionally, 80% of BlackRock employees participate in at least one of 15 global employee, professional, and social impact networks. Mehta serves as the sponsor for the Asian and Middle Eastern Professionals network, which launched in 2021. On top of employee networks, BlackRock also launched "inclusion dialogues" in 2021. These small group conversations, led by an external facilitator, seek to create inclusive environments through open communication. To date, there have been 1,000 sessions globally with 11,000 employees participating. Employees' mental and physical health has also been at the forefront of BlackRock's priorities since the onset of the pandemic, Mehta said, noting that health "has guided every strategic people decision, from return-to-office timing to in-office safety measures to work from home flexibility policies."Mehta led BlackRock's creation of the COVID HR Response on Managing Experiences (CHROME) team, which provides rapid responses to employees facing stress or loss. Alongside CHROME, BlackRock created a suite of COVID-19 health benefits, including on-site and at-home testing kits. Lastly, to help employees handle this tumultuous time, BlackRock launched a volunteer-led Mental Health Ambassador (MHA) program, where hundreds of trained employee volunteers served as allies for firmwide mental health awareness. The practices seem to have paid off: Despite high levels of <a href="https://www.businessinsider.com/great-resignation-january-quits-jolts-report-labor-shortage-hiring-walkouts-2022-3" target="_blank" rel="noopener">resignation nationally</a>, BlackRock's turnover rate remained unchanged in 2021. And in an employee experience survey issued in September of 2020, 91% of employees reported they were proud to work at BlackRock, Mehta said. "The pandemic has brought into stark relief the great impact that the HR function has on the human experience," he said. "Navigating the challenges of the pandemic with our HR team, I have seen the difference HR can make in people's lives."

How the global head of HR at BlackRock has managed the world's largest investment firm through the pandemic

<ul class="summary-list"><li>Instacart founder's empty fridge was the "lightbulb moment" for coming up with the idea for the delivery startup, he said.</li><li><a href="https://www.businessinsider.com/instacart-founder-apoorva-mehta-ipo-2023-9">Apoorva Mehta</a> walked away with over $1.1 billion in net worth after the delivery startup's IPO on Wednesday.</li></ul><a href="https://www.businessinsider.com/instacart-founder-apoorva-mehta-ipo-2023-9" target="_blank" rel="noopener noreferrer">Apoorva Mehta</a>, the founder and former CEO of Instacart, credited his constantly empty fridge as the <a href="https://twitter.com/apoorva_mehta/status/1704194042551226725" target="_blank" rel="noopener noreferrer">"lightbulb moment"</a> behind his delivery startup."More than a decade ago, I was sitting in my apartment in San Francisco bemoaning the fact that the only thing I had in my refrigerator was hot sauce," Mehta wrote in a post on X on Wednesday."Don't get me wrong, I love hot sauce, but you can't exactly make it a meal," he added in the post that's been viewed over 500,000 times since being posted. The realization that he could shop for everything online except for groceries inspired him to code the first version of Instacart, he added.Mehta walked away with a <a href="https://www.bloomberg.com/news/articles/2023-09-19/instacart-founder-departs-with-1-3-billion-fortune-after-ipo#xj4y7vzkg">fortune of over $1.1 billion</a> after his delivery startup's IPO on Tuesday. He stepped down as the CEO in 2021 and <a href="https://www.businessinsider.com/instacart-founder-apoorva-mehta-ipo-2023-9" target="_blank" rel="noopener">left the company's board</a> on Tuesday.In the lead-up to his handing over the reins as CEO to former Meta executive Fidji Simo, Mehta was involved in a <a href="https://www.businessinsider.com/instacart-founder-apoorva-mehta-ipo-2023-9">dispute</a> with key investors who were pushing for the company to go public — at a time when the company's valuation peaked at $39 billion.For context, Instacart's IPO valued the company at $9.9 billion on Tuesday. And Mehta's net worth now represents a stark contrast from a <a href="https://www.bloomberg.com/news/articles/2023-09-19/instacart-founder-departs-with-1-3-billion-fortune-after-ipo#xj4y7vzkg" target="_blank" rel="noopener">peak of $3.5 billion</a> in 2021, per Bloomberg. Before going public, the company's SEC filings stated that the company had delivered <a href="https://www.sec.gov/Archives/edgar/data/1579091/000119312523235646/d55348ds1a.htm">over 900 million orders</a> since it began in 2012.Shares of Instacart — which went public on Tuesday at $30 a share — slumped <a href="https://www.businessinsider.com/understanding-instacarts-ipo-flop-grocery-business-hard-2023-9" target="_blank" rel="noopener noreferrer">11% a day after the IPO</a>. The company's shares were at $30.00 apiece at Friday's close. One expert — Aswath Damodaran, a professor of finance at NYU's Stern School of Business — had a dim view of the company's prospects. In an analysis published Tuesday, <a href="https://aswathdamodaran.blogspot.com/2023/09/putting-instacart-before-grocery-horse.html?m=1&amp;s=09" target="_blank" rel="noopener">Damodaran wrote</a>, "This IPO represents vastly downgraded expectations for the company's future."Before starting the company, Mehta quit his job at Amazon in 2010 and moved to San Francisco to become an entrepreneur. During this time, he said he founded <a href="https://www.businessinsider.com/instacart-founder-apoorva-mehta-ipo-2023-9" target="_blank" rel="noopener">twenty failed startups</a>. He told CNBC Squawk Box in an interview on Tuesday that these <a href="https://www.cnbc.com/2023/09/20/instacart-founder-launched-20-failed-companies-now-hes-a-billionaire.html" target="_blank" rel="noopener">failed ideas</a> included a social network for lawyers and an advertising company aimed at gaming companies.During the early stages of Instacart, Mehta also said he <a href="https://techcrunch.com/2012/08/18/how-instacart-hacked-yc/">missed the application deadline</a> for the startup accelerator YCombinator by over two months. He used his app to order a six-pack of beers for YCombinator's headquarters, a stunt which earned him an interview with the company — and eventually led to them becoming the startup's first investors.Mehta and Instacart did not immediately respond to requests for comment from Insider, sent outside regular business hours.

Instacart founder Apoorva Mehta says his 'empty fridge' was the inspiration for the delivery startup

<keyword id="2858165" type="UNKNOWN" weightage="80" keywordseo="Pinky-Mehta">Pinky Mehta</keyword>, who broke the glass ceiling 24 years ago when she became <keyword id="246439" type="POSITION" weightage="80" keywordseo="first-woman-officer">first woman officer</keyword> to be hired by the <keyword id="44373" type="CITY" weightage="80" keywordseo="Aditya-Birla-Group">Aditya Birla Group</keyword> company, Indian Rayon, has once again set a benchmark. 
 
She has been appointed as the Chief Financial Officer of Aditya Birla Nuvo, becoming the first woman in the 68-year-old group to attain the post. She will take charge in July this year. 
 
Kumar Mangalam Birla, Chairman of Aditya Birla Group, said Mehta has the versatile ability to handle multiple roles and willingly accept new challenges. 
Mehta, 47, the class topper has long been used to competing vigorously with, and often besting, her male colleagues. 
 
In an exclusive interview with Economic Times, Mehta said she owed her success mainly to her father Jagdish Dharia, who made sure that she does what she wanted because he could not fulfil his ambition of pursuing an MBA as he was forced to shoulder the responsibility of running the family after the untimely death of his father. 
 
"My father cried the day he had to forego the MBA degree for starting a business to run the family. But this incident forced him to make sure that his children pursued their dreams. That is why I could turn to CA. My CA degree helped me break the glass ceiling early on," Mehta, who studied at South Mumbai's Fellowship School before opting for chartered accountancy, told ET. 
 
During her first job, her first boss, the then CFO of Indian Rayon, DD Rathi, put Mehta’s skills to test by making her handle complicated tax issues. As she mastered the intricacies of tax laws, a new wave of opportunity came about in the form of mergers and acquisitions in late 1990s. 
 
As Kumar Mangalam was expanding the empire through acquisitions, Mehta was part of the team that structured the acquisition of Madura Garments, a transaction that transformed the group from a pure commodity player to a consumer-centric conglomerate. 
 
"It gave me enough exposure to the art of settling shareholder agreements. And it also helped me understand the importance of doing due diligence in a deal of such magnitude," Mehta told the financial daily, who saw a string of assignments coming her way, including the acquisitions of Transworks, Minacs and Apollo Sindhoori. 
ET also reported that at times Mehta spent hours waiting in jam-packed courtrooms. During the merger of Indo Gulf and Birla Global Finance, she made several trips to appear before the court in Ahmedabad, answering point-blank queries from the judges. 
 
In 2009, she was appointed as the head of the management services division, and entrusted with executing many high-impact projects aimed at achieving commercial excellence. 
 
"I am more of a mentor who gives directions. I also learn a lot from youngsters," said Mehta. 
 
Over the years, more women have progressed in the group, which now has 16% women among its top management cadre. 
 
"The recent appointment of Ruth Porat, the most powerful woman on Wall Street, as CFO of Google was an indication of women CFOs increasing their presence at the top," Satish Modh, director, VES Institute of management told ET. 
 
(Image: Indiatimes)

She was Aditya Birla’s first woman employee, and now is its first woman CFO

New Delhi, Jan 13 () Capital markets regulator Sebi on Monday exempted Mehta Family Trust from making open offer following its proposed acquisition of stake in three companies -- Torrent Power, Torrent Pharmaceuticals and Gujarat Lease Financing.
The move came after the trust has approached Securities and Exchange Board of India (Sebi) seeking exemptions from the obligation of making open offers.
"The applicant trust is eligible for exemption as sought and the same is being granted subject to certain conditions imposed in the interest of investors," Sebi said in three separate similarly-worded orders.
The trust currently does not hold any shares in these three firms. Pursuant to the scheme of amalgamation, the trust will hold over 71.2 per cent stake in Torrent Pharmaceuticals and over 53.5 per cent stake in Torrent Power through Torrent Pvt Ltd (TPL) and 29.55 per cent in Gujarat Lease Financing through TPL, Sebi noted in the orders.
The promoter and members of the promoter group of the firms include Sudhir Uttamlal Mehta, Samir Uttamlal Mehta, Jinal Sudhir Mehta and TPL, which is owned by family members of Sudhir Mehta and family members of Samir Mehta.
All the shares of TPL are held by the members of the Mehta Family.
TPL has filed before the National Company Law Tribunal (NCLT) a scheme of amalgamation of a group company Torrent Fincorp with TPL.
The trust, in its submission to Sebi, said that the objective of the proposed acquisitions are to streamline succession and promote welfare of the promoter family. Moreover, there will not be any change in control of the these firms pursuant to the proposed acquisition.
Accordingly, Sebi has granted exemption to the acquirer trust -- Mehta Family Trust -- from complying with the requirements of the takeover regulations with respect to the proposed acquisitions in Torrent Power, Torrent Pharmaceuticals and Gujarat Lease Financing.
The regulator has laid certain conditions while providing exemptions, including that the proposed acquisition should be in accordance with the relevant provisions of the Companies Act and other applicable laws.
Besides, Sebi said the trust on completion of the proposed acquisition has to file a report with the regulator within 21 days from the date of acquisition in compliance with the takeover regulations.
As per the SAST (Substantial Acquisition of Shares and Takeovers) Regulations, an entity buying 25 per cent stake in a listed firm will have to mandatorily make an open offer to buy an additional 26 per cent shares from the public shareholders. SRS
BAL

Sebi exempts Mehta Family Trust from making open offers for Torrent Group cos

New Delhi, Mar 19 () IL&amp;FS Investment Managers Ltd (IIML) on Thursday said its Non-Executive Independent Director Sunil Mehta has resigned from its board with immediate effect due to his new responsibilities. Mehta, former non-executive chairman of Punjab National Bank, has been nominated in the reconstituted board of the Yes Bank. "We hereby inform that Sunil Mehta, non-executive independent director of the company, has resigned as a member of the board of directors with immediate effect," IL&amp;FS Investment Managers said in a regulatory filing. Mehta, in his resignation letter, said, "Given my other new responsibilities, I hereby tender my resignation from the board and sub-committees of the IIML board, with immediate effect." KPM HRS

IL&FS Investment Managers non-exec independent director Mehta resigns; to join Yes Bank board

<ul class="summary-list"><li>Lawyers for <keyword id="12954543" type="UNKNOWN" weightage="60" keywordseo="elmer-stewart-rhodes" source="Orion">Elmer Stewart Rhodes</keyword> failed to convince a judge that he should be released before trial.</li><li>A judge said Rhodes posed a "clear danger" and noted the <keyword id="12254187" type="UNKNOWN" weightage="60" keywordseo="oath-keepers" source="Orion">Oath Keepers</keyword> founder's organization skills.</li></ul>A federal judge on Friday refused to release from jail Elmer Stewart Rhodes, the founder and leader of the far-right Oath Keepers militia, as he awaits trial on some of the most serious charges stemming from the <keyword id="11897870" type="UNKNOWN" weightage="60" keywordseo="january-6" source="Orion">January 6</keyword>, 2021, attack on the US Capitol.Rhodes has remained behind bars since his arrest last month on a seditious conspiracy charge and other criminal allegations connected to the January 6 insurrection. A magistrate judge in Texas ordered him detained shortly after his arrest, but Rhodes appealed that ruling to Judge <keyword id="12882563" type="UNKNOWN" weightage="60" keywordseo="amit-mehta" source="Orion">Amit Mehta</keyword>, who is presiding over the Oath Keepers' prosecution in Washington, DC.Mehta on Friday noted that prosecutors have accused Rhodes of overseeing a wide-ranging plot that included an "arsenal" of firearms stored in a hotel room outside Washington, DC. The indictment, he said, alleged "sophisticated and conscious planning" and showed that the Oath Keepers had the "intention to use that arsenal.""If the conduct alleged is true, the danger that it poses cannot be understated," Mehta said.Later, Mehta said Rhodes posed a "clear danger" and that there were no conditions of release for the Oath Keepers leader that would ensure the public's safety.A <keyword id="11975389" type="UNKNOWN" weightage="60" keywordseo="yale" source="Orion">Yale</keyword> University-educated military veteran, Rhodes was charged along with 10 other Oath Keepers with seditious conspiracy, which carries a maximum sentence of 20 years in prison. His indictment marked a significant development in the ongoing investigation into the January 6 attack, an inquiry that has given rise to more than 700 criminal prosecutions.At a <a href="https://www.businessinsider.com/oath-keepers-leader-elmer-stewart-rhodes-capitol-riot-january-6-2022-2">court hearing earlier in the week</a>, prosecutor Kathryn Rakoczy said Rhodes would pose a "grave" danger if released, and she stressed that the alleged conspiracy involved a cache of weapons — kept in a Comfort Inn in Arlington, Virginia — and plans to violently disrupt Congress' certification of the 2020 election results.The indictment alleged that Rhodes helped organize so-called "quick reaction forces" that were on standby to come to Washington on his order. Rhodes' defense lawyers said he never gave that order and asserted that the group believed they could use the firearms if then-President <keyword id="11914386" type="UNKNOWN" weightage="60" keywordseo="donald-trump" source="Orion">Donald Trump</keyword> invoked the Insurrection Act to respond to groups such as Antifa and Black Lives Matter.Rakoczy said Rhodes and fellow members of the Oath Keepers hoped for Trump to join them in preventing a peaceful handoff of power, but they were poised to carry out their plot regardless of his involvement.In a message over the encrypted Signal app, Rhodes said Trump "must know that if he fails to act, we will. He has to understand that we have no choice."Rakoczy read the message aloud in court and said the Oath Keepers' plan extended beyond January 6."This was one battle in a larger war," she said.Mehta stressed that Rhodes has First Amendment but that his words went beyond free speech."If anyone thinks this is about speech," he said, "they are mistaken."

Oath Keepers leader Elmer Stewart Rhodes will remain behind bars on charges related to the US Capitol attack

Addressing the joint annual Convocation Ceremony of Management Development Institute (MDI), Gurgaon and Murshidabad, as the chief guest, <keyword id="169120" type="General" weightage="20" keywordseo="sanjiv-mehta" source="Orion">Sanjiv Mehta</keyword>, CEO and Managing Director of Hindustan Unilever limited, urged the graduating students to temper <keyword id="119318" type="General" weightage="20" keywordseo="ambition" source="Orion">ambition</keyword> with <keyword id="63298" type="General" weightage="20" keywordseo="humility" source="Orion">humility</keyword>. "Humility is intertwined with ambition," Mehta said. "I call it <keyword id="14212379" type="General" weightage="20" keywordseo="humbition" source="Orion">humbition</keyword>." In the Convocation Ceremony, 514 students from various PGDM programmes and eight Fellow Scholars of MDI Gurgaon received their diplomas. Twenty-four medals were awarded to meritorious students of different courses. From MDI Murshidabad, 132 students from the PGDM 2020-22 batch were conferred their diplomas. In his address, Mehta exhorted the students to be brave and act right. "Always do the harder right than the easier wrong," Mehta said. "When the crowd goes one way, you have the right to go the other way." He advised the students to not fear failures in life. "What matters is the resilience you demonstrate to bounce back from failures," Mehta said. Stating that ordinary people do extraordinary things, he said: "This is the power of purpose." Even as it marks its 50th Foundation Year, MDI Gurgaon, ranked among the top 10 B-schools in India, is set to implement an over ₹200-crore campus rejuvenation and expansion plan. Addressing the Convocation Ceremony, Rajnish Kumar, Member of the MDI Board of Governors, said that MDI Gurgaon is focused on redevelopment of its campus with best-in-class infrastructure. "The Board has approved a ₹200 crore-plus Campus Rejuvenation Plan to expand the campus and create state-of-the-art infrastructure," he stated in his welcome address. "The proposed construction plan is going to start shortly. A large Sustainability Plan is being discussed to become a green campus complying with the best global standards." Kumar said that as MDI celebrates its Golden Jubilee, it is now focusing on expanding to other parts of the country as well Speaking on the occasion, Dr. Rajesh Chakrabarti, Director of MDI Gurgaon, said that the Institute has reached an agreement with the selected architects to add to and upgrade the campus significantly. Alluding to the 2022 placement season, Dr. Chakrabarti, in his Director's Report, said that MDI Gurgaon continued to be the institute of choice for newly minted talent. "You will be glad to know that MDI Gurgaon again achieved a 100 percent placement record," he informed the gathering. "A total of 87 organisations, including 35 new ones, recruited students from MDI Gurgaon." Dr. Chakrabarti added that the highest salary offered this time was ₹1.14 crore while the average salary recorded was ₹23.50 lakh. In his Director's Report, Dr. Atmanand, Director of MDI Murshidabad, said that his Institute is collaborating with institutions of excellence worldwide in order to conduct joint research, programmes, and conferences. Dr. Atmanand said that his Institute concluded a phenomenally spectacular final placement for the batch of 2020-22 in record time. "This year, the increase in the average package, new recruiters, and forays into newer industry segments were quite visible and remarkable," he said. "The Institute welcomed 34 new recruiters who onboarded our students in varied industry domains." SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/646-billion-thats-the-economic-cost-of-violence-in-india/articleshow/92252398.cms">$646 billion — that’s the economic cost of violence in India</a> <a href="https://www.businessinsider.in/india/news/spicejet-hiked-its-ticket-prices-indigo-and-others-might-follow-suit/articleshow/92251751.cms">SpiceJet hiked its ticket prices; Indigo and others might follow suit</a>

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