CORPORATE NEWS

punjab-police-engages-ex-amazon-tech-head-as-chief-technology-officer

Punjab police engages ex-Amazon tech-head as Chief Technology Officer

In an attempt to boost technological resources and know-how, Punjab police have appointed Dhruv Singhal as their Chief Technology Officer (CTO). Singhal is a former technology head at Amazon Internet Services.

He has been appointed to train the police force to deal with tech-savvy and data-driven criminals. The lockdown and curfew in the past two months have brought the state police face to face with criminals, especially the cross border terrorists, using highly sophisticated technology and equipment like drones to smuggle arms, phones, cash and drugs across the Indo-Pak border.

DGP Dinkar Gupta said that factors like hostile conditions at the border have increased deployment of drones to smuggle drugs and weapons into Punjab, and increased cyber frauds over the last few months made it imperative to scale up the force’s technology thrust.

Singhal served for more than 30 years in the IT industry and his last assignment was as head of technology at Amazon Internet Services, the Indian subsidiary of Amazon Web Services. Singhal graduated from IIT Delhi and IIM Calcutta and specializes in application integration, databases, and big data among others.

05 Jun 2020
corporate-affairs-ministry-issues-advisory-against-covid-19

Corporate Affairs Ministry issues advisory against COVID-19

The deadly novel coronavirus (COVID-19) spread across over 110 countries is also causing severe economic disruptions. The corporate sector has a key role  to play in implementing strategic policy decision of social distancing. Some decision has already been taken to ease out the problem.

Union Ministry of Corporate Affairs has relaxed rules with respect to meetings of board of directors and dispensed with the necessity of holding physical meetings on matters relating to approval of financial statements, board report, restructuring etc. up to June 30, 2020.

Since Pvt Ltd Companies/ Limited Liability Partnerships are major employers, especially in urban areas, their full participation and cooperation is most essential to fully realize the object of social distancing, morbidity and mortality due to Covid-19.

All companies / LLPs are expected and strongly advised to put in place an immediate plan to implement the “Work from home” policy as a temporary measure till March 31, 2020, after which the position will be reviewed by the appropriate authorities as per the evolving situation.

Companies are advised to implement this policy in their headquarters and field offices to the maximum extent possible, including conduct of meetings through video conference or other electronic/ telephonic/ computerized means. Further, even for the essential staff on duty, staggered timings may be followed so as to minimize physical interaction.

In order to generate greater awareness and confidence on the nation’s state of readiness, the Ministry of Corporate Affairs is in the process of developing and deploying a simple web form for companies/ LLPs to confirm their readiness to deal with the COVID-19 threat. The web form is named as CAR (Company Affirmation of Readiness towards COVID-19).

27 Mar 2020
punjab-police-engages-ex-amazon-tech-head-as-chief-technology-officer

Punjab police engages ex-Amazon tech-head as Chief Technology Officer

By IndianMandarins 05 Jun 2020

In an attempt to boost technological resources and know-how, Punjab police have appointed Dhruv Singhal as their Chief Technology Officer (CTO). Singhal is a former technology head at Amazon Internet Services.

He has been appointed to train the police force to deal with tech-savvy and data-driven criminals. The lockdown and curfew in the past two months have brought the state police face to face with criminals, especially the cross border terrorists, using highly sophisticated technology and equipment like drones to smuggle arms, phones, cash and drugs across the Indo-Pak border.

DGP Dinkar Gupta said that factors like hostile conditions at the border have increased deployment of drones to smuggle drugs and weapons into Punjab, and increased cyber frauds over the last few months made it imperative to scale up the force’s technology thrust.

Singhal served for more than 30 years in the IT industry and his last assignment was as head of technology at Amazon Internet Services, the Indian subsidiary of Amazon Web Services. Singhal graduated from IIT Delhi and IIM Calcutta and specializes in application integration, databases, and big data among others.

corporate-affairs-ministry-issues-advisory-against-covid-19

Corporate Affairs Ministry issues advisory against COVID-19

By IndianMandarins 27 Mar 2020

The deadly novel coronavirus (COVID-19) spread across over 110 countries is also causing severe economic disruptions. The corporate sector has a key role  to play in implementing strategic policy decision of social distancing. Some decision has already been taken to ease out the problem.

Union Ministry of Corporate Affairs has relaxed rules with respect to meetings of board of directors and dispensed with the necessity of holding physical meetings on matters relating to approval of financial statements, board report, restructuring etc. up to June 30, 2020.

Since Pvt Ltd Companies/ Limited Liability Partnerships are major employers, especially in urban areas, their full participation and cooperation is most essential to fully realize the object of social distancing, morbidity and mortality due to Covid-19.

All companies / LLPs are expected and strongly advised to put in place an immediate plan to implement the “Work from home” policy as a temporary measure till March 31, 2020, after which the position will be reviewed by the appropriate authorities as per the evolving situation.

Companies are advised to implement this policy in their headquarters and field offices to the maximum extent possible, including conduct of meetings through video conference or other electronic/ telephonic/ computerized means. Further, even for the essential staff on duty, staggered timings may be followed so as to minimize physical interaction.

In order to generate greater awareness and confidence on the nation’s state of readiness, the Ministry of Corporate Affairs is in the process of developing and deploying a simple web form for companies/ LLPs to confirm their readiness to deal with the COVID-19 threat. The web form is named as CAR (Company Affirmation of Readiness towards COVID-19).

jack-ma-replaces-mukesh-ambani-to-become-richest-asian

Jack Ma replaces Mukesh Ambani to become richest Asian

By IndianMandarins 11 Mar 2020

The badge that Indian business tycoon Mukesh Ambani has been donning with pride of being the richest man in Asia has been snatched away by Jack Ma once again and the reason being oil prices collapsed along with global stocks.

The rout erased $5.8 billion from Indian businessman’s net worth bringing him to No 2 spot on the list of Asia’s richest people. Alibaba Group founder Ma slided from No 1 ranking in mid-2018, is back on top with a $44.5 billion fortune about $2.6 billion more than Ambani.

Coronavirus has harmed some of Alibaba’s businesses, the damage has been mitigated by increased demand for its cloud computing services and mobile apps. On the contrary Reliance Industries has no such cushion. The Indian company’s shares plunged 12 per cent on March 9, the most since 2009, extending this year’s decline to 26 per cent. Alibaba’s American depositary receipts have slipped 6.8% so far in 2020.

Oil prices plunged the most in 29 years as Saudi Arabia and Russia vowed to pump more in a struggle for market share just as coronavirus is spurring the first decline in demand in more than a decade. 

loss-of-many-listed-companies-plunges-to-rs-36,500-crore

Loss of many listed companies plunges to Rs 36,500 crore

By IndianMandarins 18 Nov 2019

Many of the listed companies of India except financials and oil and gas companies reported a combined net loss for the first time in the past 15 years while their net sales contracted for the first time in four years in Q2 that is July-September quarter. The bottom line slipped into the red due to record losses posted by mobile operators during Q2.

The decline in sales is attributed to slackness in demand in the domestic economy. This also clouds the earnings outlook for the forthcoming quarters. Listed companies’, excluding financials and oil and gas, combined earnings plunge 68 per cent YoY to Rs 36,500 crore.

former-sbi-chairman-joins-reliance-as-independent-director

Former SBI Chairman joins Reliance as independent director

By IndianMandarins 24 Oct 2019

After former CVC joining reliance now former chairman of State Bank of India Arundhati Bhattacharya has joined Reliance Industries as additional director designated as independent director. The appointment will be for five years commencing October 17, 2018, which of course is subject to approval of shareholders. In another development Reliance Industrial Investments and Holdings has bought 12.7% in SkyTran Inc., which develops technology in the field of Personal Rapid Transit Systems.

ias-officer-set-to-join-uber-india-at-a-salary-&-perks-of-03-crs-a-year

IAS officer set to join Uber India at a salary & perks of 03 Crs a year

By IndianMandarins 26 Sep 2019

Indianmandarins has reliably learnt that IIT Kanpur alumnus Rajiv Aggarwal (IAS:1993:UP) is all set to join Uber India as Head for Policy at a salary and perks of about 400,000$ Or Rs 3 crores. If its true, the pay, perks and position is considered a big jump for an IAS and others alike.

It may be underlined that Rajiv Aggarwal has put in his papers seeking VRS from IAS; almost ten years of his retirement i.e. May 2029. Presently, he is working as Joint Secretary in the Department of Industrial Policy & Promotion.

At a time when several IAS officers are not so enthusiastic about their career prospects Aggarwal’s move would prove to be a benchmark for his peers gauging prospects to move to the corporate world. Recently, a very senior IAS officer in his writeup revealed/apprehended that more IAS resignations are likely in coming months. 

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