Latest news with #Bangalore
The Sun
14 hours ago
- Business
- The Sun
Inside world's wackiest £15million mansion left abandoned on 400ft skyscraper – and why the owner never moved in
THE fate of an abandoned £15million mansion perched on a 400ft skyscraper hangs in balance after the tycoon owner fled to the UK. Details of what's inside the unbelievable White House replica have been revealed for the first time - but it remains unclear whether the sprawling home will have any residents. 9 9 9 9 Businessman Vijay Mallya, 69, who lives in the UK, commissioned the Sky Mansion on the 34th and 35th Kingfisher Towers in Bengaluru, India in 2010. But the tycoon could never live in his dream home after he fled the country in 2016 after defrauding at least 17 banks of nearly £1billion. Now sources familiar with the case say the future of the mansion remains uncertain as lenders and agencies probing the fraud are still trying to recover cash from Mallya. Sprawled over an unbelievable 40,000sqft on two levels, the wacky mansion sticks out like a sore thumb on the gargantuan tower. For its ultra-rich owner - if it ever gets one - there's a helipad, infinity pool and an open deck that offers a 360-degree viewing platform of the city. And despite the penthouse being part of the skyscraper, it's a private villa with two of its own elevators. The Kingfisher Towers were built on 4.5 acres of land where the father-in-law of former Prime Minister Rishi Sunak, Narayan Murthy, reportedly bought a flat last year. The mansion was one of the first residential penthouses in the country built at such a height. Chairman of Prestige Group Irfan Razack previously said constructing the gargantuan mansion was a challenge as it was mounted on cantilever - a structure only supported at one end. He said to local media: "It's a complex structure. It was a challenge to construct the mansion on a huge cantilever at that height." Dubai hotel with world's largest waterpark It's unknown when the build was completed - but the exterior of the mansion appears to be fully finished. But it's not clear if the White House replica is finished on the inside. Interior firm Morph Design and Co, an arm of Prestige Group hired to work on the interiors of the mansion, revealed to The Sun that the 'interiors of the mansion were not done'. While the house is reportedly taken care of by the developers and regularly cleaned, the penthouse lies unoccupied due to legal tangles. Prestige Constructions didn't respond to a request from The Sun on its fate. Before the penthouse was finished, Mallya fled the country after facing legal action over money laundering and alleged fraud charges. He had taken a loan from a syndicate of banks for the operations of his now-defunct Kingfisher Airlines - but he failed to make the payment. 9 9 9 9 The tycoon later declared himself bankrupt in the UK. Indian banks have since been seeking to recover the outstanding loan amount through various legal mean - including the sale of his assets. Several of his properties have been seized by the Enforcement Directorate, otherwise known as the financial crimes police. And the mansion is likely part of the recovery procedure. SS Naganand, the counsel who appeared for one of the banks, told The Sun: "The tower was part of the entire recovery proceeding and all the assets belonging to him are part of the process, certainly that mansion. "The building was constructed long before the litigation started. 'Prestige Group put up the structure and kept a portion of it, the rest of which came to [his] company and Mallya had built something for him on the top and belonged to him personally. "From my understanding there were proceedings relating to that both in Indian courts and the UK courts." Mallya's former lawyer EC Agrawala said that the fate of the property can only be decided by the Indian government. He said: "The mansion was under construction. "The last three to four years, I have not followed it. It was seized by the Enforcement Directorate but not fully confiscated. "It is still lying unoccupied and unsold as the government is yet to decide its fate." Who is Vijay Mallya? By Annabel Bate, Foreign News Reporter VIJAY Mallya, 69, is a former businessman and politician who is the subject of an extradition effort by the Indian Government to return him from the UK. Officials want him to face charges of financial crimes in India. Mallya was the founder and former owner of defunct Kingfisher Airlines, as well as former co-owner of the Force India Formula One team - but it went into administration. The tycoon fled India in 2016 after defrauding at least 17 banks of nearly £1billion. Mallya he also faced legal action over money laundering alongside alleged fraud charges. He had taken a loan from a syndicate of banks for the operations of his now-defunct Kingfisher Airlines - but he failed to make the payment. The tycoon later declared himself bankrupt in the UK. Indian banks have since been seeking to recover the outstanding loan amount through various legal mean - including the sale of his assets. Several of his properties have been seized by the Enforcement Directorate, otherwise known as the financial crimes police. 9
The Hindu
a day ago
- Business
- The Hindu
MBA admissions are biased against fresh engineering graduates. But it is time for a rethink
Thousands of graduates with degrees in hand and aspirations of becoming managers graduate from India's best engineering schools each year. Interestingly, though, the majority of these talented young engineers do not immediately go to business schools. They bide their time for two – three years. Why? There is a quiet but growing agreement that freshmen without prior work experience, even those from famous institutions, don't have a good chance of getting into India's best B-schools. This goes beyond anecdotal evidence. It is supported by hard evidence. The average age and job experience of admitted students have been rising gradually across top management schools, including IIM Ahmedabad, Bangalore, ISB Hyderabad, and others. New grads are becoming the exception rather than the rule. What is causing this change, then? Furthermore, is it time for Indian business schools to reevaluate how they assess bright, young engineers right out of college? Why engineers wait This delay is due to practical considerations. After years of technical education, many engineers only discover they want more after they start working: more creative responsibility, more exposure to clients, and more authority to make decisions. The next logical step is the MBA. However, they also understand that work experience greatly improves their application. Experienced applicants not only usually perform better in case-based assessments and interviews, they also frequently pique recruiters' interest during final placements. Candidates with some knowledge of workplace dynamics are preferred by employers, who frequently seek out applicants who can take the initiative right away. Clarity of intent is equally vital. Young professionals who have worked in the business for two or three years are better able to identify what they want—or don't want—from their employment. Sharper essays, more cogent career goals, and an improved overall fit with MBA programs are frequently the results of that clarity. Peer learning, real-world conversations, and cooperative problem-solving are key components of top MBA programs. Regardless of academic achievement, a class made up exclusively of freshmen may lack the real-world experiences that make management theory come to life. A certain amount of maturity is also expected by recruiters post the MBA program. Freshmen may excel in positions involving a lot of data or analytics, but they might not be prepared for positions requiring client interaction, leadership, or negotiation. Thus, the premium for experience is not wholly unjustified from the institutions' own point of view. Also, a diverse learning group is important in the MBA class. Male engineers, frequently from IITs or NITs, dominated India's B-schools for many years. Many universities responded by purposefully restructuring their hiring procedures to place greater emphasis on professional diversity, gender parity, and non-engineering backgrounds. For instance, even though their CAT score is lower than an engineer's, a graduate in commerce or a literature major may receive extra points during the shortlisting round. Some colleges assist non-engineers stand out by normalizing academic performance across disciplines. To increase gender diversity, female candidates—especially those from underrepresented fields—may be given preference. How does this thinking actually narrow down to a process? Let's take the example of IIM Ahmedabad for how this intention is translated into a robust process: At different stages of the selection process, the 'Application Rating' (AR) score of an applicant will be used. An applicant's AR score is the sum of the rating scores based on their percentage of marks obtained in Class 10 and Class 12 (depending upon the stream, viz., 'Science', 'Commerce' and 'Arts & Humanities'), the bachelor's degree programme (depending upon the discipline), and work experience (at the time of application). The gender diversity score is zero for male candidates and 2 for all other candidates. Similarly, for computing the weightage or work experience, IIM Bengaluru has a specific process: It assigns credit for a candidate's work experience in the selection process, but the maximum cap is 36 months and anything above does not alter the weightage points given. However the quality of the work within those 36 months is assessed by the selection panel and given due weightage. The diversity imperative Today the reason why business schools prioritize diversity in admissions is fully understood by all. Diversity helps to cultivate a richer learning environment, prepare students for the globalized business world, and fosters a more inclusive and equitable community. A diverse student body brings a wider range of perspectives, experiences, and backgrounds, enhancing critical thinking, innovation, and problem-solving skills. And in the long term, a diverse alumni network can provide students with more connections and opportunities. Alumni from different backgrounds can offer valuable mentorship, support, and access to diverse industries and markets. Aspirants to top B-schools in India need to understand these important elements that the institutions practice and prioritize. While their aspirations are personally of great important to individuals, they must see the institution priorities and the bigger cause that the institutions work for. At the same time, although these initiatives are well-meaning and essential for comprehensive education, they also result in a higher learning curve for engineers, especially new hires. Many decide to wait, obtain work experience, then reapply with a stronger case unless they have outstanding profiles or scores. A case for new hires Should this, however, be the standard? Is the system unintentionally rejecting a sizable pool of bright young professionals who are more than prepared for management education in the name of diversity promotion? There are justifications for a different perspective. Many prestigious universities throughout the world provide effective early-entry MBA programs. Through initiatives such as the Harvard's 2+2 or Yale Silver Scholars, gifted undergraduates can obtain MBA admissions and postpone enrolling until they have the necessary experience. This maintains classroom quality while providing early access to management education. Additionally, recent grads are typically more adaptable, risk-taking, and entrepreneurial. They provide their digital proficiency and new ideas. Some have previously founded businesses, run college associations, or spearheaded social impact initiatives. It could be shortsighted to overlook their potential in favor of repetitive work experience. A fair course for the future Perhaps balance is the answer. B-schools in India could: Provide specialized tracks, career coaching, and mentoring as well as organized pathways for new hires. Acknowledge leadership positions in college, entrepreneurial endeavours, and internships as reliable predictors of future success. Increase the number of postponed MBA programs available so that worthy seniors can earn their spots and begin working in the field a year or two later. In addition to providing opportunities for emerging talent, these models uphold the diversity and maturity that B-schools rightfully cherish. To sum up, whether new engineers are qualified for an MBA is not the question. With or without a few years of job experience, the question is whether our admissions frameworks have changed sufficiently to acknowledge the various ways quality might manifest itself. The management education system in India is at a turning point. Youth potential must not be overlooked in its quest for diversity and employability, nor should talent from the 'overrepresented' pool be penalized. The MBA continues to be a goal worth pursuing for many of talented young engineers. Maintaining an open and equitable road is a challenge for our institutions.
Khaleej Times
2 days ago
- Automotive
- Khaleej Times
How a Royal Enfield dream sparked a full-blown family intervention
"Going to Bangalore? Without Amma? For what?" Almost everyone in the room chorused. Almost simultaneously. It was as if I had just returned from Elon Musk's Hawthorne, California, space facility and said, "Hey guys, sorry I need to rush 'cause I have a solo flight to Mars to catch tomorrow morning." Before the "oohs and aahs" precipitated into beads of sweat, someone grabbed the phone and dialled Munich to let my son know I'm making a solo trip to India's tech hub. Dialling +45 is akin to pressing the 999 emergency number to call police in the UAE. I felt like a convict on parole with an electronic tag tied to the ankle, which my son monitors from his Munich control room. "Dad is flying to Bangalore. God knows for what! And that too without Amma. Crazy, isn't it?" It was my daughter. She insisted on seeing my Emirates PNR to see if any fellow passenger booked along with me. They behaved as if I am Pierre Mondy in the 1983 comedy hit The Gift, a farce set in a hotel in Venice. The title refers to a high-priced call girl hired as a parting gift for a retiring bank employee (Pierre Mondy) by his friends, "who hope this will put spice back into his marriage even though he is married to Claudia Cardinale, who does not lack for spice". What an embarrassment when people look at you as if you have just been caught with another woman in the bedroom. Looking as stoic as possible like David Bowie in the opening courtroom scene of the war movie Merry Christmas Mr. Lawrence, I delivered the famous Bowie dialogue, "I'm not guilty." "Listen guys, this is not a honeymoon trip. A short one to appear for a driving test and complete some home ownership work. Will be back in four days." "Driving test?" People crooned again. "You already drive a car in India." "This is a bike licence. My learning permit is expiring in a week. I must go; it's a long-cherished dream to own a Royal Enfield, the Goan Classic in the blue-and-red dual tone." "Dad, are you mad? Know your age and body. Driving a bike in India is the most dangerous game in the world, especially in the madding traffic of Bangalore." On the speakerphone, my son sounded aghast and frustrated. "People own a car in India but drive a bike to save on petrol. This is the era of smart living. It makes sense to me." I argued, well aware that it would fly in the face of common sense because I'm still well-healed in Dubai. "There's something fishy. Why aren't you taking your wife this time. Dad, don't tell me tickets are expensive, I will foot her bill," daughter argued persuasively. "And what dream are you talking about? A bike? You have achieved much more, dad. Have a safe retirement soon instead of inviting trouble." I kept quiet. I wanted to argue that the much-cliched phrase, dreams have no expiration date, still holds water. I wanted to tell them life is the continuum of dreams, from point A to point B. The worthiness of your life is dependent on the summation of all the dreams you have achieved — and still want to realise or relive — one last time before the final curtain call. I am not ready — not yet — to join the laughing clubbers making a fool of themselves in community gardens. I don't want to be a potbellied jogger struggling to keep pace with lanky lasses in the park. I don't want to be part of the sickening retirees boasting of their old sexcapades over a cup of "cutting chai" under a bodhi tree. I don't want to listen to the same old stories of valiance from the Kargil warfront. I have no time for temple renovations or rath yatras. "Amma, this is why I said we must have a Nest cam back home." Daughter was in a fighting mood. "To let's be abreast of how you guys will be doing." Camera for what? To spy on my dreams. I slogged a lifetime to raise a family. I watched in despair when life turned into a cemetery of dreams. I did the home burial with my own hands as tears rained down. Now is the time to lift a pickaxe and dig all the graves and breathe life into the carcasses. I don't want anyone to watch what I eat and when and how I sleep. I don't want people to watch when I throw all my sorries and regrets to cats and pigeons. I want to roam naked in my own little space. I want to serenade myself with the sound of silence. I will cook a kitchen full of hash brown and wedges and drink the best of all Rheingau and Bordeaux. I will raise a dozen kids who are free to chase their own dreams. I will let them wake up whenever they want, eat whatever they want, drink whatever they want. I will not chase the school bus when we are late. We'll instead chase the clouds on Nandi Hills. A life finally on my own terms. No more headmasters and principals roaming with sticks. No more deadlines and postmortems. No more emails to sort and messages to reply to. Live life like there's no tomorrow. Looking through the window at the mirage rising from the sizzling desert sand, wifey finally broke her silence.
Zawya
3 days ago
- Business
- Zawya
Avnet India and NITK Surathkal Collaborate on AI-Powered Sustainability Solutions for Landslide Detection and Wildlife Preservation
BANGALORE, INDIA - Media OutReach Newswire - 29 May 2025 - Avnet India Pvt Ltd, a leading global technology distributor and solutions provider, today announced its partnership with the National Institute of Technology Karnataka (NITK), Surathkal, one of India's premier academic institutions. This collaboration, an integral part of Avnet India's robust ESG (Environmental, Social, and Governance) initiatives, focuses on leveraging Avnet's recognized expertise in AI-driven solutions for critical sustainability projects and biodiversity conservation efforts. Through this collaboration, Avnet India is working closely with the Department of Electronics and Communication Engineering (ECE) at NITK, Surathkal, on three impactful sustainability projects, utilizing AI and machine learning technologies: AI-assisted Real-time Landslide Detection and Alerting System: This project uses AI techniques and Avnet's development boards to provide early detection and timely alerts for landslides, helping to protect lives and property in high-risk areas like the Himalayas and Western Ghats. Automated Bird Identification and Survey System: Using deep learning, this system automates bird species identification from audio and video recordings, streamlining data collection in challenging environments and supporting conservation research. Automated Bird Sound Identification for Tackling Illegal Wildlife Trafficking: This innovative system aims to detect and identify bird sounds to combat illegal wildlife trafficking. By integrating machine learning, the system enhances detection capabilities at checkpoints and contributes to preserving biodiversity by identifying bird calls in flight baggage. As part of this partnership, Avnet India is also supporting the significant upgrade of NITK's Electronic Systems Laboratory with state-of-the-art equipment, including digital oscilloscopes and AI-embedded development boards, which will be vital for advancing these sustainability solutions. With over 100 years of experience in technology distribution, Avnet has built strong relationships with global suppliers, equipping customers with the tools they need to navigate complex design and supply chain challenges. Through collaborations like the one with NITK, Avnet fosters innovation by enabling the creation of scalable, AI-powered solutions aimed at addressing pressing environmental and societal issues. "Our partnership with NITK Surathkal highlights Avnet India's commitment to our global ESG strategy," said Suresh Kamath, Managing Director, Avnet India. "We are passionate about harnessing technology for environmental and community impact. The innovative solutions we are developing together—particularly in landslide detection and bird conservation—align perfectly with our goals of fostering a sustainable future and preserving biodiversity." Building on this, the HOD of ECE, NITK shared their perspective on the collaboration: "We are excited to collaborate with Avnet India on these groundbreaking sustainability projects. By leveraging cutting-edge AI and machine learning technologies, we aim to address some of the most pressing environmental and conservation challenges, from landslide detection to wildlife preservation. This partnership enables our students and faculty to engage in impactful research while contributing to the broader societal goals of sustainability and biodiversity conservation. We look forward to the continued success of this collaboration, which underscores the importance of industry-academia partnerships in driving innovation for the future." The upgraded lab was officially inaugurated on April 16, 2025, by Sunil Kumar G, Senior Business Unit Manager (Xilinx) from Avnet India, along with other senior members from the company, and Professor Neelawar Shekar Vittal Shet from the Department of ECE, NITK. Professor Bhallamudi Ravi, Director of NITK, Surathkal, was also in attendance, along with some 60 faculty members and students. NITK, recognized as an Institute of National Importance by the Government of India, consistently ranks among the top engineering education institutes in the country. Avnet India's support of the NITK Electronics and Communications Engineering (ECE) department is part of its CSR program for 2024-25. Hashtag: #Avnet The issuer is solely responsible for the content of this announcement. Avnet As a leading global technology distributor and solutions provider, Avnet has served customers' evolving needs for more than a century. Through regional and specialized businesses around the world, we support customers and suppliers at every stage of the product lifecycle. We help companies adapt to change and accelerate the design and supply stages of product development. With a unique viewpoint from the center of the technology value chain, Avnet is a trusted partner that solves complex design and supply chain issues so customers can realize revenue faster. Learn more about Avnet at Avnet Asia Pte Ltd
Malay Mail
3 days ago
- Business
- Malay Mail
Avnet India and NITK Surathkal Collaborate on AI-Powered Sustainability Solutions for Landslide Detection and Wildlife Preservation
AI-assisted Real-time Landslide Detection and Alerting System: This project uses AI techniques and Avnet's development boards to provide early detection and timely alerts for landslides, helping to protect lives and property in high-risk areas like the Himalayas and Western Ghats. Automated Bird Identification and Survey System: Using deep learning, this system automates bird species identification from audio and video recordings, streamlining data collection in challenging environments and supporting conservation research. Automated Bird Sound Identification for Tackling Illegal Wildlife Trafficking: This innovative system aims to detect and identify bird sounds to combat illegal wildlife trafficking. By integrating machine learning, the system enhances detection capabilities at checkpoints and contributes to preserving biodiversity by identifying bird calls in flight baggage. BANGALORE, INDIA - Media OutReach Newswire - 29 May 2025 - Avnet India Pvt Ltd, a leading global technology distributor and solutions provider, today announced its partnership with the National Institute of Technology Karnataka (NITK), Surathkal, one of India's premier academic institutions. This collaboration, an integral part of Avnet India's robust ESG (Environmental, Social, and Governance) initiatives, focuses on leveraging Avnet's recognized expertise in AI-driven solutions for critical sustainability projects and biodiversity conservation this collaboration, Avnet India is working closely with the Department of Electronics and Communication Engineering (ECE) at NITK, Surathkal, on three impactful sustainability projects, utilizing AI and machine learning technologies:As part of this partnership, Avnet India is also supporting the significant upgrade of NITK's Electronic Systems Laboratory with state-of-the-art equipment, including digital oscilloscopes and AI-embedded development boards, which will be vital for advancing these sustainability over 100 years of experience in technology distribution, Avnet has built strong relationships with global suppliers, equipping customers with the tools they need to navigate complex design and supply chain challenges. Through collaborations like the one with NITK, Avnet fosters innovation by enabling the creation of scalable, AI-powered solutions aimed at addressing pressing environmental and societal issues."Our partnership with NITK Surathkal highlights Avnet India's commitment to our global ESG strategy," said Suresh Kamath, Managing Director, Avnet India. "We are passionate about harnessing technology for environmental and community impact. The innovative solutions we are developing together—particularly in landslide detection and bird conservation—align perfectly with our goals of fostering a sustainable future and preserving biodiversity."Building on this, the HOD of ECE, NITK shared their perspective on the collaboration: "We are excited to collaborate with Avnet India on these groundbreaking sustainability projects. By leveraging cutting-edge AI and machine learning technologies, we aim to address some of the most pressing environmental and conservation challenges, from landslide detection to wildlife preservation. This partnership enables our students and faculty to engage in impactful research while contributing to the broader societal goals of sustainability and biodiversity conservation. We look forward to the continued success of this collaboration, which underscores the importance of industry-academia partnerships in driving innovation for the future."The upgraded lab was officially inaugurated on April 16, 2025, by Sunil Kumar G, Senior Business Unit Manager (Xilinx) from Avnet India, along with other senior members from the company, and Professor Neelawar Shekar Vittal Shet from the Department of ECE, NITK. Professor Bhallamudi Ravi, Director of NITK, Surathkal, was also in attendance, along with some 60 faculty members and recognized as an Institute of National Importance by the Government of India, consistently ranks among the top engineering education institutes in the country. Avnet India's support of the NITK Electronics and Communications Engineering (ECE) department is part of its CSR program for #Avnet The issuer is solely responsible for the content of this announcement. Avnet As a leading global technology distributor and solutions provider, Avnet has served customers' evolving needs for more than a century. Through regional and specialized businesses around the world, we support customers and suppliers at every stage of the product lifecycle. We help companies adapt to change and accelerate the design and supply stages of product development. With a unique viewpoint from the center of the technology value chain, Avnet is a trusted partner that solves complex design and supply chain issues so customers can realize revenue faster. Learn more about Avnet at
