Latest news with #Odisha-based
Business Wire
3 hours ago
- Business
- Business Wire
Logile Unveils New AI Innovation Center in Bhubaneswar, India
DALLAS--(BUSINESS WIRE)--Logile, Inc., a global leader in AI-powered Connected Workforce solutions for retailers worldwide, today announced the official launch of its Global AI Innovation Center in Bhubaneswar, Odisha. This significant investment marks a milestone in Logile's long-term vision to bring together engineering, data science and product innovation to fuel the next wave of intelligent retail solutions. As retail continues to evolve, the Logile AI Innovation Center will serve as a hub for developing next-generation AI capabilities including development of intelligent agents capable of autonomously managing complex retail operations while tapping into the city's growing prominence as a technology and innovation ecosystem. 'We're not just embedding AI in retail; we're designing autonomous retail agents that can learn, adapt and collaborate with people in real time,' said Purna Mishra, Founder and CEO of Logile. 'Agentic AI- based general problem solving combined with generative AI-powered interaction models represent the cornerstone of our strategy, and we're thrilled to scale our innovation in one of the most vibrant, forward-thinking communities in India. Our decision to expand here reflects a core belief: meaningful innovation is driven not only by technology, but by the people and communities that bring it to life.' Investing in Purpose, Not Just Product Logile's AI Innovation Center in Bhubaneswar will lead the development of agentic AI systems and generative AI interfaces designed to tackle some of retail's most dynamic challenges across forecasting, labor planning, task execution, replenishment, shrink, and fresh production optimization by reasoning like planners, acting like operators, and communicating like teammates. Innovations will bring retail brands into the future where intelligent agents support every decision from the store floor to the head office working hand-in-hand with team members. Key areas of product innovation will include: Designing agentic AI models capable of autonomous, goal-driven behavior across multiple domains Building generative AI-powered interaction interfaces that allow natural, conversational engagement with retail associates and managers Developing intelligent agents that leverage real-time data and continuous learning to drive smarter decision making and store execution The company plans to continue growing its Odisha-based workforce into 2026, filling strategic roles across artificial intelligence, machine learning, agentic system design, generative AI user experience, cloud-native engineering, DevOps and product leadership. The Bhubaneswar center will also serve as a talent and innovation engine, with active collaborations underway with local universities and technical institutes to support joint research, mentorship programs and internship pipelines. Bhubaneswar's strategic location as a top Tier II city provides seamless access to a deep pool of technical talent across Odisha, Andhra Pradesh, Jharkhand, Chhattisgarh, Bihar, West Bengal and Eastern Uttar Pradesh all within a short flight or high-speed train journey. This region produces nearly 45% of India's skilled graduates, making it one of the country's most important hubs for high-tech development. The Odisha government has welcomed Logile's commitment, with Dr. Mukesh Mahaling, Hon'ble Minister of Electronics and IT, affirming the state's AI-first vision and calling on global investors to be part of the region's transformation. 'Logile was built to serve people, from the store associate managing daily tasks to the engineers designing what comes next,' continued Mishra. 'That is why Bhubaneswar is so important to us. It's not just a strategic location; it's where we're investing in exceptional talent, nurturing a strong community, and building a long-term innovation partnership that reflects our belief in people as the true drivers of progress.' To learn more about career opportunities at the Logile AI Innovation Center in Bhubaneswar, visit About Logile Logile is the leading retail operations platform provider, delivering intelligent, AI-powered solutions for forecasting, labor planning, workforce management, inventory, food safety and store execution. Retailers worldwide rely on Logile to optimize performance, reduce costs, and empower confident, connected stores. Learn more at
Hans India
6 days ago
- Business
- Hans India
Anil Ambani seeks 10 days for documents
New Delhi: Reliance Group Chairman Anil Ambani on Tuesday appeared before the Enforcement Directorate (ED) here for questioning in a money laundering case linked to alleged multiple bank loan fraud cases worth crores of rupees against his group companies. According to the sources, Anil Ambani has sought 10 days from the ED to submit documents related to the alleged scam. The businessman reached the office of the central probe agency in central Delhi in an EV vehicle around 10:50 am. The statement of the 66-year-old businessman is being recorded under the Prevention of Money Laundering Act (PMLA), official sources said. The summons come after the agency conducted searches at 35 premises of 50 companies and 25 people, including executives of his business group, in Mumbai on July 24. The ED has notified a Look Out Circular (LOC), as per standard operating procedure in large bank 'fraud' cases, against Ambani even as some executives of his group have also been summoned to appear for questioning during the week as part of this probe. In a related case, the ED had recently arrested Partha Sarathi Biswal, the MD of a Odisha-based company, for allegedly providing a fake bank guarantee of Rs 68 crore for a Anil Ambani Group company. Biswal may be confronted with Ambani during the latter's questioning, the sources said. The action against Ambani pertains to alleged financial irregularities and collective loan 'diversion' pegged at more than Rs17,000 crore by multiple group companies of Anil Ambani, including Reliance Infrastructure (R Infra).
Time of India
05-08-2025
- Business
- Time of India
ED summons Reliance Group brass in loan fraud probe
The Enforcement Directorate has summoned top executives of Anil Ambani's Reliance Group, including Amitabh Jhunjhunwala and Sateesh Seth, for questioning in a ₹17,000 crore loan fraud case. The ED is also set to question bank officials regarding actions taken against Reliance companies that defaulted on loan repayments. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: The Enforcement Directorate (ED) has summoned around half a dozen current and former top executives of Anil Ambani 's Reliance Group for questioning in connection with its probe into alleged money laundering in a ₹17,000 crore loan fraud case. Amitabh Jhunjhunwala and Sateesh Seth are among those summoned, said people in the know. The investigating agency has asked Jhunjhunwala, a former top executive of the group, to appear before it on Wednesday. Seth, who is still among the top leaders of the group, is summoned on Thursday. Both were close aides of Anil other Reliance Group executives have also been ordered to be available for questioning, the people chief Anil Ambani has been asked to appear at the ED headquarters in New Delhi on Tuesday sources said those summoned are suspected to have played key roles in the alleged bank loan fraud ET on Monday reported that the ED will also summon officials of private and public sector banks that had given loans to the Anil Ambani-led Reliance federal agency will quiz the bank officials on the action initiated by them, if any, against Anil Ambani's companies which failed to repay the loans, ET reported."We want to ascertain what action did banks take against the companies which failed to repay the loans taken from them (banks). Did they complain to the police, seek registration of an FIR against the companies or not", a senior official had told ET on the condition of Rs 17,000 crore loans that three Anil Ambani Group companies - Reliance Home Finance Ltd, Reliance Commercial Finance Ltd and Reliance Communications - had taken from nearly 20 private and public sector banks, including Yes Bank ICICI Bank and HDFC Bank , had turned non-performing. The ED is investigating alleged laundering of the loan agency last week carried out searches at multiple entities and individuals linked to the group. Late on Friday, it arrested Partha Sarathi Biswal, managing director of Odisha-based Biswal Tradelink Pvt Ltd Biswal Tradelink is accused of arranging a fake bank guarantee of ₹68 crore for a Reliance Group firm.A Delhi special court has remanded Biswal in ED's custody till August 6.A statement issued by Reliance Group on Friday said "The company and its subsidiaries acted bonafidely and have been a victim of fraud, forgery and cheating conspiracy. The company has made due disclosure on this to the stock exchanges on November 7, 2024."
Indian Express
04-08-2025
- Indian Express
46-year-old man murdered in Surat, two arrested
A day after two people were arrested for allegedly murdering a 46-year-old Rajasthan native, the police on Monday produced the two accused before the court, which sent them to police remand till August 7. A third accused in the case is still absconding, said police. The Limbayat Police identified the victim as Alok Agrawal, who was formerly working as a broker in the textile trading business in Surat. The accused identified as Uttar Pradesh resident Dipak Kumar Singh (35) and Odisha-based Bhagwan Swai (25), residing in Surat city, were arrested on Sunday, said police. According to police, three persons allegedly waylaid victim Alok Agrawal on Saturday night near Vatika Shopping Complex in Surat's Parvat Patia area, and attacked him repeatedly with knives, leading to his on spot death. On Sunday, the victim's elder brother, Ajay Agrawal, filed a complaint with the Limbayat police station, said sources. Later in the day, the police arrested the two accused. A couple of hours after their arrest, the police took both of the accused to the alleged murder spot for the reconstruction of the crime. As the news of the police arrival spread, thousands of people from the Rajasthani community, staying in Surat, gathered on the spot. A few BJP party workers and local corporator Vijay Chaumal also accompanied the agitating people. Chaumal said, 'Action should be taken against criminals in Surat and the whole of Gujarat on the lines of Uttar Pradesh. The accused killed a Rajasthani youth in a public area, they should be shot dead by police.' The BJP councillor also allegedly tried to snatch a stick from Police Inspector N K Kamaliya in a bid to hit the murder accused, when the crime reconstruction was in progress, but was stopped before the situation could go out of hand, said police sources. Chaumal while addressing the mediapersons, on the sidelines of the spot, said, 'A strict message should be given to the murder accused…they should be gunned down by the Surat police in front of the public… There should be tit for tat, so that in future nobody would dare to commit such a crime.' Chaumal, who hails from Rajasthan and is settled in Surat, told The Indian Express, 'The victim Alok Agrawal hailed from Rajasthan and had been residing in Surat's Parvat Patia area for a long time. He was brutally murdered by the accused. Police arrested two accused, however, one person is still absconding. We want strict actions to be taken against the accused.' Meanwhile, sources said that a few days ago, the State Monitoring Cell had conducted raids in the EWS Awas area of Bhestan locality, during which a gambling ring was busted and cash worth lakhs was seized. According to sources, Alok had allegedly tipped-off the State Monitoring Cell personnel about the gambling activities. Limbayat Police Inspector N K Kamaliya said,'As per the initial probe, we got to know that Alok, who earlier worked as a textile broker, was involved in a dispute with one Ashfak Kawa of Kosad area in Surat. Around 15 days ago, a quarrel took place between Alok and Ashfak in Kosad. Nursing a grudge against Alok, Ashfak allegedly ordered his henchman to eliminate the former. Ashfak has gone underground and a police team is looking for him.' Kamaliya added, 'Apart from Dipak Kumar Singh and Swai Bhagwan, a third accused, Abrar Lassi, was also involved in Alok Agrawal's murder. They attacked the victim with knives. His body bore 50 injury marks. We have arrested the two accused while the third one is on the run. A manhunt has been launched to arrest him as well. Probe into the matter is underway.' On Monday, police presented both the accused before the Surat district court. Police had sought seven days of remand. After hearing arguments from defence and prosecution, the court granted police remand of both the accused for three days, till August 7.
India Today
04-08-2025
- Business
- India Today
ED's crackdown on Anil Ambani, web of bank frauds: All you need to know
Trouble is mounting for industrialist Anil Ambani as a slew of investigations by the Enforcement Directorate (ED), Central Bureau of Investigation (CBI), and other financial regulators into alleged fraud have unearthed what officials are calling a "well-planned and thought-after conspiracy" to siphon off public money, launder thousands of crores, and manipulate the banking system through a network of shell firms, backdated approvals, fake bank guarantees, and offshore fraud case centres around unpaid loans amounting to nearly Rs 17,000 crore, which were taken by various firms linked to Anil Ambani. Officials are now trying to trace the money trail and who were all involved in diverting a comprehensive breakdown of what's under investigation and where things stand:TIMELINES OF INVESTIGATION AND FIRs2022: The CBI registers two FIRs naming Reliance Anil Dhirubhai Ambani Group (RAAGA) of companies.2024: Delhi Police's Economic Offences Wing (EOW) registers FIR No. 0131/2024 on November 11, 2024, leading ED to register an Enforcement Case Information Report (ECIR) and launch a deeper probe into a fake bank guarantee racket linked to Ambani 24, 2025: ED conducts massive searches across over 35 premises linked with over 50 companies and 25 1, 2025: ED arrests Partha Sarathi Biswal, MD of Odisha-based Biswal Tradelink Pvt Ltd in the fake guarantee case linked to Reliance 3,000 CRORE YES BANK LOAN DIVERSIONBetween 2017 and 2019, the ED unearthed a major financial fraud in which Yes Bank disbursed approximately Rs 3,000 crore in loans to RAAGA companies, allegedly in exchange for kickbacks to Yes Bank promoters. Red flags found by ED include:Back-dated credit approval memorandumsNo due diligence or credit analysisLoans disbursed even before sanctionFunds routed through shell companiesMisrepresentation of financials and evergreening of loansCrucially, just before loan sanctions, money was received in matters related to Yes Bank promoters — indicating that there was an exchange involving bribery and criminal & NFRA RED FLAGS ON RHFL CORPORATE LOANSIn another leg of the probe, Reliance Home Finance Ltd (RHFL) is under the scanner for a dramatic increase in corporate lending—from Rs 3,742 crore in FY18 to Rs 8,670 crore in FY19 — with blatant disregard for risk, compliance, and internal controls. Issues flagged include:Expedited and irregular loan approvalsCommon directors and addresses for borrowersOnward lending on the same dayLoans disbursed to companies with weak financialsBoth Sebi and the National Financial Reporting Authority (NFRA) have submitted findings to ED, which is examining potential securities fraud, accounting manipulations, and cheating of BANK GUARANTEES AND RS 68.2 CRORE SECI FRAUDThe ED's recent arrest of Partha Sarathi Biswal, the Managing Director of Biswal Tradelink Pvt Ltd (BTPL), reveals a fake bank guarantee racket that was used to dupe Solar Energy Corporation of India (SECI).BTPL allegedly fabricated SBI endorsements and used a spoofed domain name— impersonate SBI and convince SECI of a Rs 68.2 crore bank guarantee for received Rs 5.4 crore from Reliance Power Ltd for providing this forged found seven undisclosed bank accounts, no statutory records, and multiple dummy directors at seized in raids carried out on Ambani group entities in July 2025 have been directly linked to this bank guarantee case, further tightening the LOAN FRAUDAnil Ambani's flagship telecom firm, Reliance Communications (RCom), has defaulted on over Rs 14,000 crore, and has been officially classified as "fraudulent" by SBI, as confirmed by Minister of State for Finance Pankaj Chaudhary in also cheated Canara Bank of over Rs 1,050 crore, with SBI preparing to file a formal complaint with the classifications follow RBI guidelines on fraud recognition and are paving the way for criminal FOREIGN ASSETS AND OFFSHORE TRAILThe ED is also probing undisclosed foreign bank accounts and offshore assets linked to Anil Ambani and his group entities. These assets are believed to be layered and concealed using complex financial structures and nominee ownership EXECUTIVES UNDER ED SCANNERSenior functionaries of the Anil Ambani group are being investigated for their role in the alleged fraud and laundering schemes. They are - Sanjay Dangi, Sateesh Seth, Amitabh Jhunjhunwala, Amit Dangi, Puneet Garg, Chhaya Virani, Akash Suri, Jitendra Sanghvi, Amit Bapna, Pinkesh Shah, Ravindra Sudhalkar, Anurag Sharma, Hasit Shukla, Kamalkant Gupta, Varun Agarwal, Amrish Shah, Sandeep Khosla Yashpal, and Pradip LIES AHEAD?With multiple FIRs filed in the case, ED's ECIR, seizures, arrests, and inter-agency coordination with Sebi, NFRA, NHB, and the CBI, the investigation into Anil Ambani's empire is widening each enforcement agencies believe this is just the beginning, with forward linkages, arrests, and possibly prosecution under PMLA, Companies Act, and IPC expected in the coming the probe intensifies, the once-highly reputed business tycoon now faces a rapidly unravelling legal and financial crisis — one that could redefine India's corporate fraud enforcement landscape.- EndsTune InMust Watch
