Latest news with #Subramaniam
India.com
4 days ago
- Business
- India.com
Meet man who built Rs 3,500 crore business,1600 outlets across India, now has lost everything, spending time in jail due to...
Meet man who built Rs 3,500 crore business,1600 outlets across India, now has lost everything, spending time in jail due to... Rise nd Fall of CR Subramanian: The story of businessman CR Subramanian is no less than a Bollywood movie, in which a man achieved success but later loses everything, ending up in jail. Subramanian studied in prestigious institutes like IIT and IIM. He proved his talent in sectors like engineering, banking, and business. While studying at IIT, he dreamt big, and after completing his studies, he did everything it took to fulfil those dreams. He went to such an extent to turn his dreams into reality that today he is spending his life in jail. Let's know the story of C.R. Subramanian. 587 Investors Raised Over Rs 137 Crore In 1991, after completing his studies, Subramanian started his first company named Vishwapriya Financial Services. The NBFC company promised to give people a better return on their investments than other companies. The company started several schemes to attract as many investors as possible. Schemes such as Prime Invest, Asset Backed Security Bond, Liquid Plus and Safety Plus were quite popular among investors. As per reports, 587 investors invested more than Rs 137 crore in Vishwapriya. Retail Chain 'Subhiksha' After Vishwapriya Financial Services, Subramanian started a retail chain – Subhiksha in Chennai in the year 1997. The company dealt in grocery items, fruits, vegetables, medicines and mobile phones. Subhksha, which started with an investment of USD 1 million, promising low price and high sales, quickly became popular and spread across the country. Its stores were opened even in small cities and towns. By October 2008, Subhiksha had 1,600 stores across the country. Gradually, the company became one of the largest retail companies in the country. Subramaniam's business got investments from big investors like Azim Premji, ICICI Ventures and Kotak Mahindra Bank. The Money Game Subramanian had raised money from investors through Vishwapriya. To expand Subhiksha, he used Vishwapriya's tremendous marketing, competition, and personal contracts. People were lured with 15 to 20 percent returns through brokers. Money was taken from investors and invested in Subhiksha without their knowledge. Money was taken from new investors and given to old investors. People had no clue from where the money was coming. But the flow had increased the trust of investors. All went well until 2008. After this, Subhiksha started facing a cash crunch. Employees' salaries and PF were not paid. The dues of the companies supplying the goods continued to increase. To address the situation, Subramaniam began diverting investors' money by creating more than 80 shell companies. He was accused of cheating investors, and Subhiksha was shut down in 2009. In 2015, the Economic Offences Wing registered a case against Subramaniam. Investigation revealed that he did not repay the loan of Rs 77 crore of Bank of Baroda. In 2018, the ED arrested Subramaniam on charges of money laundering. 20 Years Of Imprisonment A Chennai court convicted Subramaniam on November 20, 2023, for defrauding investors. He misused investor funds via shell companies, failing to return over 137 crore rupees belonging to 587 individuals. The court sentenced him to 20 years imprisonment and levied an 8.92 crore rupee fine against him, and a 191.98 crore rupee fine against his companies. 180 crore rupees of this will be used to compensate victims, with a designated agency tasked with processing claims and distributing the funds.
Time of India
27-05-2025
- Business
- Time of India
Chennai-based embedUR bets on building small AI models
Chennai: Chennai-based embedUR has partnered with global chip vendors Infineon, ST Micron and Synaptics to build edge artificial intelligence applications. The company is building a library of small AI models for edge applications, i.e. , running AI models in smaller chips for visual applications such as factory floor cameras that can perform image recognition or audio related applications such as denoising without sending the data to the cloud. The company is building a platform called ModelNova which offers pre-trained AI models. 'We have built over 75 models for different applications and created use case stacks for product development and rapid deployment. This acts as a quick proof of concepts and helps quick integration into smart devices,' Rajesh C Subramaniam, chief executive and founder of embedUR. The US and Chennai-based company is an embedded systems company and has developed software solutions for internet of things and networking applications. It has so far invested Rs 100 crore in its Chennai facility and plans to invest 400 crore in the next few years and scale its team to 2000. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trekking pants for mountain sports and adventure travel Trek Kit India Shop Now Undo 'The role in the partnership is to work very closely with the chipset vendors. If you think of the chipset vendors, they are capable of building chips and they need to support their customers in software and models. So they need strong software partners who understand their chip, understand their AI, work with their customers, understand their application,' he said. Subramaniam believes the edge AI business stream will start generating revenue in 2026. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
News18
22-05-2025
- Entertainment
- News18
Sasikumar, Simran's Tourist Family To Release On This OTT Platform
Last Updated: Tourist Family received a positive response from the audience as they were moved by the storyline and M. Sasikumar's extraordinary acting. The most anticipated Tamil emotional drama series, Tourist Family, is all set to step into streaming platforms after the massive success of the film at the theatres. M. Sasikumar and Simran-starrer Tourist Family was released at the theatres on May 1. Directed by Abishan Jeevinth, this emotional family saga portrays the heartfelt story of a Tamil family that was forced to leave their home in Sri Lanka and move to India during a time of socio-political turmoil and the COVID-19 crisis. The story follows the struggle, resilience and emotional hurdles of the family as they begin to navigate life in a foreign land. According to the reports of The Economic Times, an insider claimed that Tourist Family is set to release on JioHotstar on May 31, 2025. Although there has been no official statement about the OTT release date, the publication reported that insider sources confirmed the film will be released at the end of its 4-week theatrical run. Along with M. Sasikumar and Simran, the film also stars Yogi Babu, Mithun Jai Shankar, Ramesh Tilak, and Sreeja Ravi, among others in leading roles. Among various notable figures, Tamil Nadu minister Ma. Subramaniam appreciated the movie. Posting on his social media, Subramaniam stated how the film has moved him to a great extent. He also mentioned the beautiful portrayal of human connections and love within a family. He also praised M. Sasikumar's portrayal of Das. According to Subramaniam, Sasikumar's performance was commendable as he brought into life such a character who is full of selflessness, compassion, and a strong desire to help others. Tourist Family received a positive response from the audience as they were moved by the storyline and M. Sasikumar's extraordinary acting. Despite facing tough competition from Nani's HIT 3 and Suriya's Retro, Tourist Family earned an estimated Rs 11.2 crore net at the domestic box office, as per Sacnilk's reports. The film also saw huge occupancy rates in Chennai, Pondicherry, Trichy, Salem, Coimbatore and other regions. First Published:
NDTV
13-05-2025
- Business
- NDTV
Can UK-India Free Trade Agreement Benefits Indian Students? FAQs Answered
UK-India Free Trade Agreement: The UK and India have agreed a trade deal to make the goods cheaper and benefit the economies of both the country. Last year, the trade between the UK and India totalled 42 billion pounds and the UK-India trade deal is expected to increase the trade by an additional 25.5 billion. The agreement took three and a half year to be signed. The UK is India's 16th largest trading partner and India is the UK's 11th largest partner. More than 90 per cent of the products have been impacted from the UK-India free trade agreement. India has reduced taxes implied on UK on various products including: Electrical machinery Aerospace Cosmetics Scotch whisky, gin and soft drinks food including lamb, salmon, chocolate and biscuits Medical devices Higher-value cars UK has lowered taxes implied on India on various products including: Jewellery and gems Food products including frozen prawns Clothing and Footwear Few cars The FTA might help build strong relations between institutions of India and UK that can lead to increased exchange programmes, joint research initiatives and potentially more favourable visa arrangements for students. Here, we speak to some experts who explain how India-UK FTA will benefit students: Q. Will the UK-India Free Trade Agreement benefit Indian students? Answer:"Yes, the UK-India Free Trade Agreement (FTA) holds the potential to benefit Indian students by fostering closer educational and professional ties between the two nations. While the FTA primarily addresses trade and economic cooperation, its provisions can indirectly open up new opportunities for Indian students in the UK," said Rahul Subramaniam, Co-founder, Athena Education. Q. In what ways might the agreement create opportunities for Indian students? Answer: Mr Subramaniam said that the UK-India FTA can create several opportunities for Indian students: Enhanced academic collaborations: The agreement could encourage partnerships between Indian and UK universities, leading to joint degree programs, research collaborations, and student exchange initiatives. Scholarships and financial aid: The FTA might pave the way for more scholarship opportunities and financial support for Indian students, making UK education more accessible. Streamlined visa process: Improved diplomatic relations could lead to more efficient visa processing and potentially more favorable post-study work visa policies for Indian students. Q. Are student visa policies included in the FTA? Answer:"No. The FTA does not encompass student visa regulations. Immigration policies remain under the purview of the UK's domestic legislation and are not directly influenced by the trade agreement," said Yatharth Gulati, co-founder, Rostrum Education. Q. How might the agreement create opportunities for Indian students? Answer: The education expert gave a detailed answer, explaining that the FTA opens doors to: Professional Mobility: Easier access to UK job markets, especially in sectors like IT, finance, and engineering; Academic Collaboration: Increased partnerships between UK and Indian institutions, leading to more exchange programs and joint research initiatives. Financial Relief: Exemptions from certain contributions reduce the financial burden on Indian students. Q. Has the changing immigration policy made the UK less attractive to Indian students? Answer: "Yes. The 2024 ban on dependents for most international students and the extension of the residency requirement for permanent settlement from 5 to 10 years have made the UK less appealing. These changes have led to a significant drop in Indian student visa applications," added Mr Gulati. Q. So, can the FTA revive interest in studying there? Answer:"Potentially, the UK-India FTA could reignite Indian students' interest in studying in the UK by addressing some of the concerns arising from recent immigration policy changes. By fostering stronger educational ties, recognising professional qualifications, and possibly influencing more student-friendly visa policies, the FTA can enhance the overall appeal of UK education. "However, for the FTA to effectively revive interest, it must be complemented by tangible policy adjustments that directly benefit students, such as reducing financial barriers and providing clearer pathways to employment post-graduation. A holistic approach that combines the strategic objectives of the FTA with student-centric policies will be crucial in restoring the interest in the UK," said Mr Subramaniam.
New Straits Times
13-05-2025
- Business
- New Straits Times
BAM stands by its 'attractive offer' in contract stalemate with Pearly-Thinaah
KUALA LUMPUR: The BAM feels that its offer is 'fair enough" though women's doubles Pearly want more in their contract negotiations. BAM deputy president Datuk V. Subramaniam today pointed out that the national body has been paying salaries and world ranking bonuses, and in fact the amount has increased significantly in recent times. And BAM is said to be one of the handful of nations that allow their players to keep all their prize money. Malaysia's top 10 shuttlers are paid well and others also receive incentives on a smaller scale. BAM used to give their players or pairs ranked in the world top two a quarterly allowance of RM45,000, but Subramaniam pointed out that the current ranking bonuses are much higher than that. He said the current remuneration structure offers attractive returns to players besides providing state-of-the-art accommodation and training facilities, and sports science support services at the Academy Badminton Malaysia while covering the full cost of competing in tournaments. "The top players and others, too, enjoy salaries and world ranking bonuses very much higher than what was provided previously," said Subramaniam. "Our players get salaries and the top 10 ranked players earn attractive world ranking bonuses. The players also get to take 100 per cent of the prize money compared to other countries where a certain portion is channelled to the national associations. "We also don't neglect the lower ranked players who get returns based on their achievements, and we even compensate our juniors if they do well in tournaments. "I don't think any other national associations abroad pay as well as we do, and we don't take even a cent from the players' prize money." Having said that, Subramaniam assured that the contract stalemate with world No. 4 Pearly-Thinaah will be settled once they return from the Thailand Open which ends this Sunday. "We will have a final discussion with Pearly-Thinaah when they return from Bangkok, and the decision will be announced immediately after the meeting," said Subramaniam. Pearly-Thinaah are said to be contemplating turning professional if their "additional demands" are not met, but BAM is standing by their "attractive offer".
