January 2020

IndiGo shareholders reject Rakesh Gangwal’s proposal to amend Articles of Association NEW DELHI : Shareholders of InterGlobe Aviation rejected co-promoter Rakesh Gangwal’s proposal to amend the company’s Articles of Association, the company said in a filing with exchanges. The amendment would have done away with the other co-promoter Rahul Bhatia-led group’s veto powers if Gangwal decided to sell his shares. About 51.11% of the valid votes were against the special resolution, while only 48.56% were for it, as per the filing. For the special resolution to pass, Gangwal and his promoter entities, which had called an extraordinary general meeting (EGM) on...

Former Boeing CEO Muilenburg resigns from Caterpillar’s board Former Boeing Co. BA, -0.08% Chief Executive Dennis Muilenburg has left the Caterpillar Inc. CAT, +0.91% board of directors, Caterpillar said in a filing late Monday. The company accepted Muilenburg’s resignation effective immediately, and the resignation “is not the result of any disagreement with the company,” Caterpillar said. Muilenburg resigned from Boeing last month and was replaced by David Calhoun as Boeing’s top executive. He left under criticism about the way the jet maker has handled the 737 Max crisis. The jets have been grounded worldwide since March after two deadly crashes connected to a defective anti-stall feature....

Start-ups that burn investor money, disappear won’t get second chance: Ratan Tata MUMBAI : Industrialist Ratan Tata on Tuesday warned that start-ups which burn investors’ money and disappear will not get a second or a third chance. Tata, who also invests in start-ups, also said old-age businesses will recede and the young founders of innovative companies are the future leaders of the Indian industry. The comments from Tata come at a time when many start-ups have been blamed for what is termed as “cash burn”, wherein the optimism of making money in the future makes venture funds to invest in such...

Former BMW ReachNow CEO and INRIX executive Steve Banfield has joined Seattle-based “startup studio” Madrona Venture Labs as founder-in-residence. “Steve’s proven talent and leadership make him uniquely suited to build the next great Seattle company,” said Mike Fridgen, managing director of Madrona Venture Labs. “It is still day one and we will have more to share later, but we can say that together we are attacking an immense and growing data problem faced by essentially every enterprise today and that this challenge fits squarely in both Steve’s and Madrona Venture Labs’ founding and operating experience.” Source: GeekWire

Rakesh Jhunjhunwala Probed by Sebi for Insider Trading in Aptech Shares: Report Ace investor Rakesh Jhunjhunwala is being investigated by capital markets regulator Securities and Exchange Board of India (Sebi) for alleged insider trading in shares of Aptech Ltd, according to media reports. Jhunjhunwala was ordered to appear before Sebi on January 24, along with his brother Rajeshkumar Jhunjhunwala, wife Rekha Jhunjhunwala and mother-in-law Sushiladevi Gupta, according to a report in Economic Times. Jhunjhunwala’s sister Sudha Gupta was also questioned by the regulator on 23 January, the report added. Source: News18.com

‘Centre planning to send plane to evacuate Indians in Wuhan’: S Jaishankar External Affairs Minister S Jaishankar on Tuesday said the Central government is planning to send a plane to Wuhan in China to evacuate Indians stuck there due to the outbreak of Coronavirus. He also said that no student from India has been found to be affected by the virus till date. “Indian Embassy is in constant touch with the Chinese government. To evacuate students and other Indians from Wuhan, we are planning to send a plane there. Our efforts are on to bring them back. It will take...

In new book, Bolton says Trump tied Ukraine aid to Biden probe President Donald Trump’s lawyers will on Monday resume their arguments in the Senate trial amidst demands from Democrats to call former National Security Adviser John Bolton, who has said in an upcoming book the President had told him aid to Ukraine was tied to its officials investigating his political rivals. The explosive revelation, which was first reported by The New York Times, undercuts the central argument made in the president’s defence by him and his lawyers that $391 million in aid was not conditioned to Ukraine investigating former...

Rajinikanth injured during the filming of Man Vs Wild with Bear Grylls; Shooting halted According to media reports, actor Rajinikanth suffered minor injuries during the filming of an episode of ‘Man vs Wild’ with Bear Grylls. The shooting was happening at the Bandipur Reserve. According to The New Indian Express, the shooting process was stopped due to his injury and the forest officials had to intervene to make sure that the actor was fine. TNIE quoted a forest official as saying, “The shooting has been called off for the day for his safety. There is no permission for shooting on...

Dia Mirza trolled for crying at JLF 2020 That Dia Mirza broke down during a panel discussion on climate change at the Jaipur Literature Festival on January 27 is something that has displeased the internet to another level. Dia Mirza is one of the top trends on Twitter as a section of the internet is busy posting bile and filthy comments against her. While addressing the audience, Dia began weeping profusely as she said, “Don’t hold back from being an empath. Don’t be afraid of shedding your tears. Feel it. Feel the full extent of everything. It’s good. It gives...

Annu Kapoor replies to fan demanding Padma award for him, says ‘undeserving people’ like him don’t get it With singer Adnan Sami in the news over winning Padma Shri and the controversy surrounding it, veteran actor Annu Kapoor took a dig at the awards, while replying to a fan on Twitter. He sarcastically commented how undeserving people like him would never get them. He wrote: “Dhanyawad, bhai lekin padma puraskar keval yogya aur deserving logon ko hi diye jaaten hain. Mujh jaise ayogya aur nalayak ko nahin. Phir bhi aapne mujhe yaad kiya isske liye bahut aabhari hoon (Thank you. Padma awards are given to...