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<ul><li><keyword id="8146" type="PERSON" weightage="20" keywordseo="ness-wadia">Ness Wadia</keyword> – the heir to one of India’s oldest conglomerates – was reportedly arrested in <keyword id="6355311" type="UNKNOWN" weightage="20" keywordseo="japan">Japan</keyword> in March for possession of drugs. </li><li>The reports say Wadia argued that the drug was for his personal use. </li><li>Shares of the <keyword id="55359" type="COMPANY" weightage="20" keywordseo="Wadia-Group">Wadia Group</keyword> have fallen by 17%, post his arrest. </li></ul>The heir to one of India's legacy businesses – Ness Wadia – has been arrested in Japan for alleged possession of drugs. Wadia, who is the heir to the 283-year old Wadia group has been arrested while on a skiing holidaying in Japan. He has been sentenced to jail for two years, according to <a href="https://www.ft.com/content/04135fce-6803-11e9-9adc-98bf1d35a056">Financial Times</a>. In early March, Wadia was arrested in the New Chitose Airport for the possession of cannabis. Wadia has also confessed to the possession of drugs for personal use, according to <a href="https://www.cnbctv18.com/economy/ness-wadia-wadia-group-heir-sentenced-to-2-year-jail-term-in-japan-for-drugs-possession-says-report-3131451.htm">reports</a>. The arrest of the business scion comes in the wake of Japan gearing up for Olympics 2020, where the country has become more stringent with its narcotics laws. Post Wadia’s arrest, the shares of the Wadia group have fallen by 17%, according to <a href="https://economictimes.indiatimes.com/markets/stocks/news/wadia-group-shares-plunge-up-to-17-on-ness-wadias-sentencing-in-japan/articleshow/69109255.cms">reports.</a> The Wadia group has reportedly said that Wadia is back in India. Wadia is a director in majority of the companies of the group – which is the owner of Britannia industries and also runs the airline GoAir. He is also the co-owner of the IPL team <keyword id="13883" type="COMPANY" weightage="20" keywordseo="Kings-XI-Punjab">Kings XI Punjab</keyword> along with his ex-girlfriend and actor Preity Zinta.

Ness Wadia arrested for carrying drugs in Japan, sentenced to jail for 2 years

<ul><li>In a first, McDonald's India partnered with <keyword id="8190094" type="UNKNOWN" weightage="20" keywordseo="Retail-Associations-Skill-Council-of-India">Retail Association’s Skill Council of India</keyword> (RASCI) to launch an undergraduate course in retail operations in India. </li><li>It will be a three-year Bachelor of Business Administration (BBA) programme in retail operations, which will include both classroom course and on-the job training. </li><li>The programme, which will study the aspects of retail operations will be conducted at <keyword id="1116394" type="ORGANIZATION" weightage="20" keywordseo="Ness-Wadia-College">Ness Wadia College</keyword> in Pune and the on-the-job training will be across McDonald's restaurants in the West and South region.</li></ul>In a first, McDonald’s India partnered with Retail Association’s Skill Council of India (RASCI) to launch an undergraduate course in retail operations. The course will train skilled floor managers for retail stores. It will be a three-year Bachelor of Business Administration (BBA) programme in retail operations. It will include a classroom course and on-the job training. "We are confident that our robust training programmes and best-in-class processes will provide a strong foundation for students to acquire skills, enabling livelihood and growth in the burgeoning retail industry," Seema Arora Nambiar, Senior Vice President, Menu, Marketing and People Resources, Hardcastle Restaurants — which operates McDonald’s — <a href="https://retail.economictimes.indiatimes.com/news/food-entertainment/food-services/mcdonalds-india-west-and-south-furthers-the-governments-skill-india-mission/71453954">told</a> news agency ANI. The programme will be conducted at Ness Wadia College in Pune. The students will be given on-the-job training across McDonald's restaurants in the West and South region. The programme aims to create a deployment-ready talent pool. "We are privileged to be one among the 10 institutions in India and the only one in Maharashtra to be selected by MHRD and MSDE to launch the programme. We are sure that the programme will give students a competitive edge and help the industry hugely," Dr Girija Shankar, Principal, Modern Education Society of Ness Wadia College of Commerce said. See also: <a href="https://www.businessinsider.in/heres-how-you-can-open-a-subway-store-in-india-and-earn-1-5-crore/articleshow/71256846.cms">Open a Subway store in India and make ₹1.5 crore. Here’s how to do</a> <a href="https://www.businessinsider.in/mcdonalds-india-same-store-sales-grow-in-the-times-of-zomato-and-swiggy/articleshow/70564950.cms">McDonald’s India franchisee explains why it gets more customers to its stores despite discounts and convenience of Zomato and Swiggy</a> <a href="https://www.businessinsider.in/mcdonalds-just-earned-a-profit-in-india-for-the-first-time-since-launching-in-the-country-over-two-decades-ago/articleshow/67266716.cms">McDonald’s just earned a profit in India for the first time since launching in the country over two decades ago</a>

McDonald’s to give students hands-on experience in retail operations

Mumbai (Maharashtra) [India], August 1 (ANI): At the Indian Premier League (IPL) owners meet, which was organised by the Board of Control for Cricket in India (BCCI), <keyword id="19907060" type="General" weightage="20" keywordseo="Delhi-Capitals" source="keywords" meta.keywordsubtype="org" meta.entityname="Delhi Capitals" meta.hostid="83" meta.entityid="Delhi Capitals">Delhi Capitals</keyword> (DC) was against the <keyword id="21099854" type="General" weightage="20" keywordseo="Impact-Player-rule" source="keywords">impact player rule</keyword> while <keyword id="1494441" type="General" weightage="20" keywordseo="Sunrisers-Hyderabad" source="Orion">Sunrisers Hyderabad</keyword> was (SRH) in favour of seven retentions, according to ESPNcricinfo. BCCI organised the meeting with the owners of the ten franchises to discuss various points concerning retentions for the upcoming <keyword id="19701758" type="General" weightage="20" keywordseo="IPL-2025" source="Orion">IPL 2025</keyword> season. According to the report, the frequency of the mega auctions and the auction purse were among the other points discussed. After the meeting, the Delhi-based franchise co-owner Parth Jindal said that some teams want the impact player rule because it gives a chance to the young players to play in the T20 tournament. "Some people want it because it gives a chance to young players to play in the IPL. Some people don't want it because it is detrimental to Indian cricket in terms of the development of allrounders. So it's a mixed bag. I'm on the second camp. I don't want it. I prefer the game as it is 11 versus 11, and I think allrounders are very important. And you have different players who don't bowl in the IPL or don't bat in the IPL because of this rule, which is not good for Indian cricket," Jindal was quoted by ESPNcricinfo as saying. The report stated that Sunrisers Hyderabad owner Kavya Maran suggested that "players could be secured via a plain retention process or a combination of retention and RTM at the auction or all exclusively via the right-to-match (RTM) card." As per the reports, the IPL 2024 winner Kolkata Knight Riders (KKR) asked BCCI that eight players should be bought back exclusively via the RTM method. The co-owner of Delhi Capitals added that he was 'surprised' to see that few franchises were against the <keyword id="21154992" type="General" weightage="20" keywordseo="mega-auction" source="keywords">mega auction</keyword>. "I was surprised. There was a debate. Some people said that there should not be a mega auction at all. There should be only smaller auctions. I'm not in that camp. I feel that I feel that it evens the playing field and it's very good for everyone. It makes the IPL what it is. It makes it competitive. It makes it an even playing field," Jindal added. BCCI secretary Jay Shah, co-owner of Punjab Kings Ness Wadia, and Kolkata Knight Riders owner <keyword id="19895142" type="General" weightage="20" keywordseo="Shah-Rukh-Khan" source="keywords">Shah Rukh Khan</keyword> were spotted after the meeting. After the conclusion of the meeting, Wadia didn't spill the beans on the discussion that took place during the meeting but stated that the overall discussion was good and that whatever outcome comes will be in the best interest of everyone. "It was a good meeting. Happy to be having a discussion with the BCCI, and I think whatever will be done will be in the best interest of everyone, the fans, cricketers and stakeholders. Maybe the outcome will come in the next two weeks, maybe less or maybe more," Wadia told reporters.

IPL owners meet: Delhi Capitals against impact player rule; Sunrisers Hyderabad want 7 retentions

<ul><li>This would be the third listed airline in India after Interglobe Aviation (which operates IndiGo Airlines) and <keyword id="6358032" type="COMPANY" weightage="20" keywordseo="SpiceJet">SpiceJet</keyword>.</li><li>More than a tenth of Go Air's ₹2,000-crore debt are unpaid dues to Indian Oil Corporation for jet fuel.</li><li>The second wave of the COVID-19 pandemic has scuttled an early recovery in aviation and a rise in fuel cost, along with a weaker rupee and tepid passenger traffic, may further erode the airline's prospects in the next few months.</li><li>Read on for some interesting revelations from the company's IPO prospectus.</li></ul>Budget carrier Go Airlines, which has rebranded itself as 'Go First', has filed the prospectus for an initial public offering (IPO) worth ₹3,600 crore. The 15-year old airline owned by the Wadia Group, which also owns companies like Britannia and Bombay Dyeing, will use the money received from the share sale to repay its debt. This would be the third listed airline in India after Interglobe Aviation (which operates IndiGo) and SpiceJet (owned by former bureaucrat-turned-businessman Ajay Singh) if the IPO goes through. Go Air had raked in a loss of ₹1,270 crore for the year ended March 2020 on a revenue of over ₹7,250 crore. <div type="image" title="go air earnings" msid="82627649" hostid="261" caption="&amp;lt;p&amp;gt;Graphics by Business Insider India&amp;lt;/p&amp;gt;"></div> It is now focusing on ultra low cost carrier model. Of a fleet of 55 that the Wadias' airline had at the end of March 2021, 46 of them were A320 NEO aircraft. The company intends to add another 16 planes to its fleet by March 2024. Aside from a massive debt of over ₹2,000 crore, Go First has been dealing declining market share too. More than a tenth of that is the money owed to the state-owned Indian Oil Corporation for jet fuel already bought. Just about six months ago, in November 2020, the company's auditors had expressed doubts about the then Go Air's ability to continue its business, the disclosures in the IPO prospectus showed. After that, the company got an emergency credit line from banks in February 2021. These are a few other interesting revelations from the prospectus: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paid by Go Air (now called Go First) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15,81,000 a month </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rent paid to Bombay Dyeing for using the premises on the first floor of Wadia International Centre in Worli from July 2016 to July 2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,88,000 a month </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rent paid to Bombay Dyeing for the space on the third floor for Wadia International Centre. The lease started in Dec 2019 and will go on till Nov 2024 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed amount </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Go Airlines' registered office is owned by Britannia (which is also owned by Nusli Wadia and Ness Wadia) </td></tr></tbody></table>Source: Draft Red Herring Prospectus filed with the Securities and Exchange Board of India In 2019, when it was reportedly planning an IPO, it was flying at least one in every ten air passengers in India. That share was down to 7.8% at the end of March 2020. A crisis like this makes the more resilient players stronger and that's possibly why IndiGo has increased its market share to at least one in every two passengers who took flights in each of the last three months. <div type="image" title="airline market share." msid="82626874" hostid="261" caption="&amp;lt;p&amp;gt;Graphics by Business Insider India&amp;lt;/p&amp;gt;"></div> The second wave of COVID-19 pandemic has scuttled an early recovery even for Go First's bigger peers. Passenger traffic was still less than half (45%) of what it was before the pandemic struck and about one in every flights were idling in April 2021, according to a report from the broking firm Centrum dated May 5. International crude oil prices are expected to rise and that would mean the cost of jet fuel will also rise, unlike the passenger traffic. And, the impact could get worse if the rupee loses value against the dollar. "Looking at the current climate of subdued demand, a depreciating rupee (impacting 65-70% of costs including fuel), rising ATF (aviation turbine fuel) prices and daily cash burn, we continue to have a negative stance on the aviation industry," a BOBCAPS report dated April 30 said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/heres-why-the-spike-in-inflation-in-the-us-may-worry-markets-in-india/articleshow/82597218.cms">Here's why the spike in inflation in the US may worry markets in India ⁠— but experts say don’t panic yet</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/whatsapp-responds-to-privacy-criticism-by-alleging-other-apps-like-zomato-ola-aarogya-setu-zoom-google-and-other-apps/articleshow/82570897.cms">WhatsApp responds to privacy criticism by alleging that other apps and tech companies also show disdain for user privacy</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/elon-musk-realised-that-he-cant-champion-both-renewable-energy-and-bitcoin-at-the-same-time/articleshow/82603087.cms">Elon Musk realised that he can’t champion both renewable energy and Bitcoin at the same time — here’s why</a>

Go Air has filed for a ₹3,600 crore IPO at a very desperate time

TRP-hungry TV shows, masala news debates, scripted reality shows step aside – it’s time for a cocktail of all three. Yes, IPL is back and the cricketing world is abuzz with festive cheer. So, as we join these celebrations and gear up to cheer for our favourite teams in the following days, let’s have a look at the good, the bad and the ugly of IPL. 
 
THE GOOD 
As the eighty eight warriors from eight teams get set go, Chennai Super Kings (CSK) with its amazing win-loss ratio seems to be a hot favourite. CSK’s bright track record evolves from its achievement in making it to the final four in previous seven IPL tournaments. Having won two IPL titles, it has played four finals till date. Of 115 matches played in IPL, CSK has won 69 and lost only 44; thereby, attaining the best win-loss ratio of 1.57. 
 
THE BAD While they were there in first and the last IPL played, Kings XI Punjab, the Ness Wadia co-owned team has failed to qualify for the final four in 5 IPL tournaments. With a Win-Loss Ratio of 1.10, it has found a companion in <keyword id="13802" type="CITY" weightage="80" keywordseo="Rajasthan-Royals">Rajasthan Royals</keyword> in terms of not-up-to-the-mark performance. Rajasthan Royals has won 54 out of 104 matches. However, the only consolation for Rajasthan Royals over its comparison to the bhangra brigade is its victory in the first IPL edition. 
 
THE UGLY Though Delhi Daredevil has made it to the Final Four <keyword id="108404" type="UNKNOWN" weightage="60" keywordseo="thrice">thrice</keyword>, yet its performance had been the poorest. Having lost 59 matches out of 105, it has the lowest win-loss ratio of 0.75. Now with <keyword id="351" type="PERSON" weightage="60" keywordseo="Yuvraj-Singh">Yuvraj Singh</keyword> in their court, Delhi finally aspires to hit a home run, something that IPL followers are also looking forward to this season. 
 
KNOCK(OUT) STAR With power and panache being their sole mantra, <keyword id="6354925" type="COMPANY" weightage="60" keywordseo="Kolkata">Kolkata</keyword> Knight Riders have always been the IPL queen bee. Having raised the trophy twice in 7 seasons, KKR is known for its knockout skills. The achievement is based on KKR’s 77% victory in the final-four stage. 
 
<keyword id="161142" type="COMPANY" weightage="60" keywordseo="Best-Buy">BEST BUY</keyword> Ever since the IPL was conceptualized, player auction has become the norm. Though auction rates vary from time to time, this year’s IPL auction has found in Yuvraj Singh an extravagance. Having bought by <keyword id="13845" type="UNKNOWN" weightage="60" keywordseo="Delhi-Dare-Devils">Delhi Dare Devils</keyword> for Rs 16 crores, ex Royal Challenger Bangalore, Yuvi has recently made headlines for his venturing to support young entrepreneurs. 
 The 3 best buys in the IPL this season are: Yuvraj Singh (Delhi Dare Devils) for Rs 16 crore, Dinesh Karthik( <keyword id="12643" type="ORGANIZATION" weightage="60" keywordseo="Royal-Challengers">Royal Challengers</keyword> Bangalore) for Rs 10.5 crore, and <keyword id="125980" type="PERSON" weightage="60" keywordseo="Angelo-Matthews">Angelo Matthews</keyword> (Delhi Dare Devils) for Rs 7.5 crore. 
 The lowest bargains this year are: Hanuma Vihari of <keyword id="1494441" type="PERSON" weightage="60" keywordseo="Sunrisers-Hyderabad">Sunrisers Hyderabad</keyword>, Sumit Narwal of Kolkata Knight Riders, Akshay Wakhare of <keyword id="13880" type="COMPANY" weightage="60" keywordseo="Mumbai-Indians">Mumbai Indians</keyword>, Shishir Bhavenane of Royal Challengers Bangalore, and Brainder Sran of Rajasthan Royals. All of these players have been sold for Rs 10 lakh in the IPL auction that happened this February. 
 However, it’s definitely surprising that acclaimed players like <keyword id="22772" type="PERSON" weightage="60" keywordseo="Kumar-Sangakkara">Kumar Sangakkara</keyword>, <keyword id="23015" type="PERSON" weightage="60" keywordseo="Mahela-Jayawardene">Mahela Jayawardene</keyword>, <keyword id="70374" type="PERSON" weightage="60" keywordseo="Tillakaratne-Dilshan">Tillakaratne Dilshan</keyword> and Shadab Jakati found no takers in the latest season of IPL. 
 
 
 
 
(Statistics courtesy : Wikipedia) 
 (Image: <keyword id="-101" type="COMPANY" weightage="60" keywordseo="India-Times">India Times</keyword>)

The good, the bad and the ugly of the IPL

<ul><li>An IPL between September and early November has been made possible by the ICC's decision on Monday to postpone the <keyword id="44040" type="COMPANY" weightage="20" keywordseo="T20-World-Cup">T20 World Cup</keyword> in Australia, scheduled for October-November, due to the COVID-19 pandemic.</li><li>The IPL GC will meet within a week or 10 days and all decisions (including final schedule) will be taken there, Patel told PTI. </li><li>The franchisees had already been working on their plans for the IPL even before the ICC announcement.</li></ul> With the T20 World Cup's postponement clearing the decks for a full-fledged IPL, the glitzy event's Governing Council will meet in a week or 10 days' time to plan its next course of action, eyeing UAE as the host this year. An IPL between September and early November has been made possible by the ICC's decision on Monday to postpone the T20 World Cup in Australia, scheduled for October-November, due to the COVID-19 pandemic. "The IPL GC will meet within a week or 10 days and all decisions (including final schedule) will be taken there. As of now, the plan is to have a full fledged IPL comprising 60 games and most likely in the UAE," Patel told PTI. Asked about the main challenges in conducting the event in current scenario, Patel added: "Just the operational side of it. Whether you do it here or outside, it doesn't matter (with no crowds)." The franchisees had already been working on their plans for the IPL even before the ICC announcement. With majority of the Indian players not having access to grounds amid the pandemic, teams will need at least three to four weeks to get them match ready. Foreign players will fly in directly to the UAE from their respective countries. "Our players will need at least three to four weeks of training, if not more. We will finalise all our plans once the BCCI announces the dates. It looks like the IPL will be in the UAE and we are ready for that," a team owner told PTI. Since India tour Australia for a four-Test series right after the IPL, training of the Test players is also an important issue. Test specialists like Cheteshwar Pujara and Hanuma Vihari, who are not part of the IPL, are likely to train for the eagerly-awaited series in a bio-secure environment at the newly-renovated Motera Stadium in Ahmedabad during the time of the IPL. A few fringe players are expected to join them at Motera along with the Indian team's support staff, which is free during the IPL. Work from home has become the norm amid the pandemic, therefore, there is a possibility that IPL commentary will happen from the comfort of the living room, a safer and cost effective-option considering the likes of Sunil Gavaskar, who is 71, are involved. The viewership is expected to be a record one with people craving for live cricket, something KXIP co-owner Ness Wadia has said. However, it remains to be seen how much the broadcasters and teams are able to attract from the sponsors in the current financial climate. More moot points and questions ahead of the IPL GC meeting: 1) More double headers expected (original schedule had only five double headers). 2) BCCI will need to provide a Standard Operating Procedure to IPL teams even though they will have their own SOPs in place. 4) Will the BCCI compensate teams for not being able to generate gate money this year? 7) Will there be virtual commentary from Star Sports? It was seen in the recent 3TC event in South Africa with the likes of Aakash Chopra, Deep Dasgupta and Irfan Pathan commentating from home. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/coovid-vaccine-from-oxford-serum-institute-and-astrazeneca-shows-promising-immune-response/articleshow/77069321.cms">The COVID-19 vaccine from Oxford and Astrazeneca shows 'promising' results in early human trials</a> <a href="https://www.businessinsider.in/careers/news/from-intel-and-wipro-to-tcs-and-google-here-are-the-top-job-openings-in-the-multinational-companies/articleshow/77058769.cms">From Intel and Wipro to TCS and Google— Here are the top job openings in the multinational companies</a> <a href="https://www.businessinsider.in/tech/mobile/news/checkout-upcoming-affordable-smartphone-oneplus-nord-launch-price-specifications-features/articleshow/77061620.cms">OnePlus Nord launch price, specs and more – Everything we know about the upcoming affordable OnePlus smartphone</a>

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Ness Wadia arrested for carrying drugs in Japan, sentenced to jail for 2 years

Sanchita Dash

McDonald’s to give students hands-on experience in retail operations

Prerna Sindwani

IPL owners meet: Delhi Capitals against impact player rule; Sunrisers Hyderabad want 7 retentions

ANI

Go Air has filed for a ₹3,600 crore IPO at a very desperate time

Sriram Iyer

The good, the bad and the ugly of the IPL

Suchayan Mandal

UAE might host Indian Premier League this year in September

PTI

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