Category: Beyond

Former ICICI Bank chief, Chanda Kochhar, who was ousted from the role following allegations of loan fraud, is now easing into a new role – that of a podcaster.

She launched her YouTube podcast series, ‘Journey Unscripted with Chanda Kochhar’ earlier this month. Kochhar told Hindustan Times, who first reported on this, that she believes people’s journeys are a “huge source of learning”.

She said that understanding how people deal with situations can be a huge source of learning that she wants to take to a larger set of people. The banker, who is out on bail at present along with her husband, is awaiting the resolution of their case. She told the news daily that she is “open to everything” at the moment and that this podcast can lead to bigger things. She said she does the research and chooses the guests herself, and aims to do three podcasts a month.

Her first guest on the show was Harsh Mariwala, founder and chairman of Marico. Her second guest will be an actor but she refused to disclose the name. Chanda Kochhar’s podcast has been executed and produced by The Salt Inc, an independent content and design agency, with a focus on technology. The banker, 63, who was recruited by ICICI Bank in 1984, went on to become its MD and CEO in 2009. Kochhar was one of the most celebrated names in the industry, was also named one of the 100 most powerful women by Forbes in 2010. She was awarded the prestigious Padma Bhushan, as well as several international awards. However, it all came apart when the Central Bureau of Investigation launched a preliminary inquiry into allegations of loan fraud in 2017.

She was accused of misusing her role as the bank’s head to issue loans worth Rs 3,250 crore to Videocon Group of Industries. In 2019, CBI in its FIR stated that Kochhar was part of the sanctioning committee that disbursed Rs 300 crore to Videocon promoter Venugopal Dhoot, and the company finally defaulted on it. The CBI accused Kochhar of being part of a quid pro quo between Dhoot, her husband Deepak Kochhar, and herself. Videocon reportedly invested Rs 64 crore in Deepak Kochhar’s company NuPower Renewables a day after Rs 300 crore loan was cleared for Videocon.

Ahmedabad-based Torrent Group is set to pick a majority stake in Indian Premier League (IPL) franchise, Gujarat Titans. The group will purchase a 67 per cent stake in the team from CVC Capital Partners. 

CVC had bought the team in 2021 for Rs 5,625 crore in 2021. Torrent Group, through its subsidiary, Torrent Sports Ventures, had previously bid for Ahmedabad  (Rs 4,653 crore) and Lucknow (Rs 4,356 crore) in 2021. It had later made an unsuccessful attempt to acquire one of the three teams up for grabs in the inaugural Women's Premier League (WPL).

The Torrent-CVC deal is now awaiting approval from the IPL governing body. It could take control ahead of the upcoming season which will begin on March 21.

"The talks of Torrent Group taking two third ownership (67 per cent) is at an advanced stage. The lock-in period for CVC group as sole owners ends in February 2025 after which they are free to sell the stakes," an IPL source told PTI

The source said that Torrent, one of the biggest names in the pharmaceutical sector, had shown interest when BCCI invited bids for two new teams. The deal would need BCCI’s approval, which is expected to be given in the coming days. 

Gujarat Titans had bagged the title in 2022 under Hardik Pandya, and were the runner-up in 2023. Under Shubman Gill, the team finished eighth last year. Apart from Gill, Afghanistan spinner Rashid Khan, England white-ball captain Jos Buttler, and India pacer Mohammed Siraj are also part of the Gujarat Titans.

Adani Group will spend Rs 6,000 crore in setting up two 1,000-bed multi-specialty hospitals and medical colleges in Mumbai and Ahmedabad in partnership with Mayo Clinic. 

“Proud to launch Adani Health City in partnership with Mayo Clinic, pioneering world-class medical research, affordable healthcare & education. Starting with two 1000-bed hospitals and medical colleges in Ahmedabad & Mumbai, we are on a mission to bring cutting-edge medical innovation across India. This is just the beginning for a healthier, stronger India – one campus at a time!” Gautam Adani wrote in a post on X (formally Twitter). 

Mayo Clinic, the world’s largest integrated not-for-profit medical group practice, will provide technical expertise, Adani Group said in a statement. 

Adani Group will fully meet the cost of building affordable, world-class medical care and medical education to people from all strata of society pan India, the company said in a statement. The family will donate upwards of Rs 6,000 crore to build the first two of these integrated health campuses in Ahmedabad and Mumbai, it added. 

Gautam Adani has plans for more such integrated Adani Health Cities in cities and towns across India, the statement said without giving details. 

Each of these integrated campuses will comprise 1,000-bed multi-super-specialty hospitals, medical colleges with an annual intake of 150 undergraduates, 80+ residents and 40+ fellows, step-down and transitional care facilities, and cutting-edge research facilities. 

This medical ecosystem aims to serve people from all socio-economic backgrounds, train the next generation of doctors and focus on clinical research, artificial intelligence and biomedical informatics, the statement added. 

Adani Group has engaged USA’s Mayo Clinic to provide strategic advice on organizational objectives and clinical practices at these establishments. Mayo Clinic will also offer expert guidance on the integration of technology, with a focus on digital and information technology and healthcare quality enhancement. 

“Two years ago, as a gift to me on my 60th birthday, my family committed Rs 60,000 crore towards improving healthcare, education and skill development,” said Gautam Adani. “The development of Adani Health City is the first of many major projects from this contribution, which will go a long way towards providing affordable, world-class healthcare to people from every section of the Indian society. I am confident that our partnership with Mayo Clinic…will help elevate healthcare standards in India, with a special emphasis on complex disease care and medical innovation.” 

Mayo Clinic extends its expertise to independent healthcare providers wherever they are located. The Mayo Clinic program provides a tailored approach by designing engagements that help clients get the right answers from the right experts to help them achieve their goals. 

Entrepreneur and artist, Ananya Birla, has announced her entry into the booming Indian beauty and personal care industry. Her new venture aims to introduce a range of innovative beauty and personal care brands across India throughout 2025. 

The Indian BPC market is expected to reach $34 billion by 2028, growing at a compound annual growth rate of 10-11 per cent, driven by increasing disposable incomes, e-commerce growth, and consumer openness to new products.

Ananya Birla's company will launch products in categories such as makeup and fragrances, targeting a diverse consumer base through a phased rollout. She emphasised that the Indian beauty industry is evolving rapidly, with consumers seeking products that reflect their individuality. 

The venture will focus on a product-first strategy, featuring differentiated packaging and international quality standards.

Ananya Birla's latest business move highlights her entrepreneurial journey, which began at 17 with the launch of Svatantra Microfin. She is also a mental health advocate through the Ananya Birla Foundation, which has partnered with over 25 nonprofits, affecting more than 30,000 people in five states. Ananya Birla also launched Sophius, an AI platform, at IIT Bombay, with plans for global expansion. 

Ananya Birla serves on the board of the Aditya Birla Group’s apex strategic body and contributes to the boards of Hindalco, Grasim, and ABFRL.

Kunal Shah-backed investment platform Stack Wealth is under the radar after an undated video featuring its CEO Smriti Tomar went viral on social media for all the wrong reasons. In this video, Tomar can be seen reprimanding a group of employees because they were unable to meet the sales targets. 

She can be heard telling a group of employees: "If you have not done enough sales, you are not getting your full and final (FNF) settlement. To make matters worse, she can be heard referring to an employee as "stupid". 

When one of the employees reads out the terms and conditions of the contract, she threatens that she'll send another mail with regards to the same. 

Needless to say, the viral video left netizens irate. They called the young CEO an "entitled brat" and batted for a structure and proper laws to hold people in power responsible for their actions. 

"I spoke to Smriti once, she is way too entitled brat and considers most people beneath her," a user said.

"I had interviewed here and almost planned on joining this, but the negotiations made me feel a bit off, so I didn't joined. And Thank god I didn't joined this," a second user wrote.

"I think we really need a structure and proper law to hold these people responsible, The startup ecosystem in India is getting pathetic day by day. My friend is working at ola and seriously the environment is so bad that I can even describe, same with my colleague at zepto. No working hours people are randomly working till 4-5 am in the morning," a third user commented. 

"I think she should sit and do the job of the sales man… People should realise that marketing and sales are one of the toughest jobs to do!! The company should have a strategy and teach the sales man to pitch the right way instead of putting all the burden on them and blaming for not making enough sales… I believe people do put in hardwork in private sector jobs because they don't want to go through this," another user noted. 

Yet another user wrote: "I got a call from Stealth for an opening. But then they ignored me even after following them quiet a few times. Extremely lucky to not be part of such a Workplace!"

Meanwhile, a former employee said in a LinkedIn post that he was terminated without any prior notice on January 4, while alleging the company withheld his salary for the month of December.

He said that he was informed only a day later that he wouldn't be receiving his salary and that several others were let go on the same day under similar circumstances.

When he sought clarification, all he was told was that his performance was not enough and he soon found out that Stack Wealth owes around ₹7.5 lakh in unpaid rent for their office building. 

A Bengaluru techie has compared his nine-year stint at one of India’s largest IT companies to "unchained slavery," revealing his shocking experience in a Reddit post. Despite nearly a decade of service, his monthly salary was just ₹35,000 when he left the company. 

Today, working for a global IT giant, his earnings have surged by nearly 400%, underlining the glaring pay disparity he endured.

His story sheds light on systemic issues plaguing the organization. Low annual increments—often between 4-6%—left salaries stagnant, while a system of "progression" merely shuffled employees to sub-levels without pay raises or expanded roles. "When I left after nine years, my monthly salary was ₹35k. Today, I earn ₹1.7 lakh," he wrote, calling for change in the corporate culture.

In his Reddit post, the techie criticized policies that ignored market salary corrections, unlike his current and previous employers, which routinely adjusted pay to match industry standards. 

Employees at his former company faced single-digit hikes, leaving them underpaid despite years of service. Referrals to his new employer often earned former colleagues an 80-100% salary increase, underscoring the discrepancy.

Beyond salaries, the techie detailed other burdens. Employees were charged ₹3,200 per month for transportation, while parking fees further added to their expenses. Cafeteria costs were steep, with a glass of juice priced at ₹40—double what he now pays at his current workplace.

The company mandated a minimum number of physical work hours, tracked through ID card swipes. This led to employees visiting the office on weekends for trivial reasons, like completing laundry, just to meet the required hours.

While the company’s leadership projected a philanthropic image, employees often joked that some of that generosity could have been directed toward staff welfare and better pay.

The techie urged for systemic reform, advocating for a "Minimum Wage Policy" across all sectors in India. His story is not just a personal narrative but a rallying cry for fair treatment, better pay structures, and labor policies that prioritize employee dignity.