Life is not a template and neither is mine. Like several who have worked as journalists, I am a generalist in my over two decade experience across print, global news wires and dotcom firms. But there has been one underlying theme in each phase; life gave me the chance to observe and tell a story -- from early days tracking a securities scam to terror attacks and some of India's most significant court trials. Besides writing, I have jumped fences to become an entrepreneur, as an investment advisor -- and also taught the finer aspects of business journalism to young minds. At Forbes India, I also keep an eye on some of its proprietary specials like the Rich list, GenNext and Celebrity lists. An alumnus of Xavier Institute of Communications and H.R College of Commerce and Economics in Mumbai, I have worked for organisations such as Agence France-Presse, Business Standard, The Financial Express and The Times of India prior to this.
Lenders to bankrupt airline GoFirst are aiming to take full control of the resolution process at the National Company Law Tribunal (NCLT), by replacing officials who were appointed by the company. The Committee-of-Creditors – which replaced the interim resolution profession and process advisor, is expected to file for more changes in the course of this week.
Government to review PLI scheme to sort out teething issues
India’s thrust towards manufacturing through the production-linked incentive (PLI) scheme was thought to be a game changer. But flaws in the implementation and manner in which incentives are given are ambiguous. Now, to review and resolve matters across all 14 ministries, the government will hold a first-of-its-kind review and seek feedback to resolve noticeable issues which the companies could be facing. The meeting will be held on June 27.
Government misses FY23 asset monitisation planned target
The government’s asset monitisation plan has fallen 18 percent below the targeted Rs1.62 trillion, wherein ministries, such as railways, road transport, power, and telecom failed to meet its targets. For 2023-24, a Cabinet secretary-headed panel earlier this month restated the Rs1.79-trillion target as set by the NITI Aayog, according to people aware of the matter.
Weather station at every village panchayat, to ensure standardised rainfall, temperature data
The government is to soon announce a plan under the Pradhan Mantri Fasal Bima Yojana (PMFBY) to set up weather stations, one each in every panchayat. There will be 1.75 lakh weather stations functional in next two years without any capital expenditure, according to this proposed plan. The panchayat-level weather stations are expected to provide rainfall, temperature, humidity, wind and frost related data.
Ola Electric’s delayed IPO gets steam
Mobility startup Ola's founder and CEO Bhavish Aggarwal will kick off meeting with investors as it plans to take Ola Electric public. Meetings in Singapore, US and the UK are planned for in the next two weeks to meeting investors, including BlackRock, Singapore's sovereign wealth fund GIC, and mutual funds such as T Rowe Price. Ola Electric could raise up to $1 billion via the Initial Public Offering (IPO) route likely by the end of this year or early 2024.