Mumbai (Maharashtra) [India], February 19 (ANI/BusinessWire India): Digital consulting company ADROSONIC hosted its annual event ‘Elevate 2020’ on February 12 for its employees and associates; celebrating work-culture and life at ADROSONIC.
This year, ADROSONIC hosted ‘Elevate’ as a virtual event due to the prevailing situation. Employees and associates of the company, based in India, UK and USA, took part in several competitions and activities which were conducted virtually throughout the day.
“Year 2020 was an eventful year for all of us. While we took a step back to realize that health is of utmost importance, we also tried our best to adjust to the new normal. I am proud to see that the ADROFamily took on the challenges and has overwhelmingly supported this digital transformation,” said Mayank, CEO & MD, ADROSONIC.
As part of ‘Elevate 2020’, a photography competition was organized which was aptly named as ‘Photothon’ where associates shared photographs with meaningful caption along with it.
Later in the day, Team ADROSONIC participated in the ‘My Desk At Home’ contest where they shared photographs of their workspace from where they are working since the lockdown began. The contest turned into a lively event as the team participated in a fun quiz related to the current work-from-home situation.
For the super talented, Carpe Diem was the perfect platform to impress. The ADROFamily gathered to cheer on their fellow members as they showcased their talents as part of ‘Elevate 2020’.
The day ended with the rewards ceremony where the top performers of the company were appreciated for their exemplary work. Winners of the Gems 2020, Debutant 2020, Value Award 2020, Performer of the Year 2020, Employee of the Year 2020 and Team of the Year 2020 were announced at the e-event.
The top management shared their thoughts and appreciated the ADROFamily for their exemplary work during the tough period that the world had to go through.
ADROSONIC organizes ‘Elevate’ each year as an event for retrospection, to draft strategy for the coming year, an event to brainstorm together and recognise those who have gone beyond for the success of ADROSONIC. The event also serves as an annual offsite where the team pledges to ELEVATE.
For year 2020, a new category of award called the Management’s Award for Professional Excellence was introduced. The award was won by Monty Dudani. The other winners of the yearly awards were:
Employee of the Year 2020
Value Award for 2020
Team of the Year 2020
1. Supriya Agarwal + Shruti Verma (Joint Leaders) – Gold Medals to both
2. Pallav Keshari – Gold Medal
3. Mayank Tripathi – Gold Medal
4. Prachi Tandel – Silver Medal
5. Suraj Kumbhar – Silver Medal
6. Gaurav Gangrade – Silver Medal
7. Peeyush Gupta – Bronze Medal
8. Harshada Khopade – Bronze Medal
9. Saikat Mandal – Bronze Medal
10. Mayank Yadav – Bronze Medal
11. Priyanka Uttarwar – Bronze Medal
Performer of the Year 2020
Debutant of the Year 2020
1. Likith Yelamanchili
2. Sanket Atvankar
1. Amit Kumar
2. Bikesh Singh
3. Rashmi Mishra
4. Kunal Biswas
5. Neha Agarwal
6. Pallav Keshari
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)
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ADB appoints Bruno Carrasco as Director General for sustainable development, climate change
Manila [The Philippines], February 26 (ANI): The Asian Development Bank (ADB) has appointed Bruno Carrasco as Director General and concurrently Chief Compliance Officer of its sustainable development and climate change department.
Carrasco will lead ADB-wide knowledge and innovation work in all thematic and sector operation areas, establish sector and thematic policies and strategies, and ensure compliance with environment and social safeguards policies. He will also oversee the administration of trust funds and global funding initiatives.
“ADB’s knowledge contributions and advisory support to our members are more important than ever as the region maps a sustainable recovery from the Covid-19 pandemic,” said Carrasco.
“ADB has a crucial role in providing leadership and innovation to ensure the recovery is green and inclusive, and sets a platform for resilient growth and development.”
Carrasco has worked at ADB for more than 23 years and served in countries across all of its regional departments. An expert in governance, public sector management, and economics, he was most recently Chief of ADB’s governance thematic group.
Carrasco has also worked at the United Nations Office for Project Services, the United Nations Development Programme and the European Central Bank.
A national of Spain, he holds a doctorate degree in economics from the University of Essex, a master’s degree in economics from the University of British Columbia, and a bachelor’s degree in economics from the University of Montreal. (ANI)
Sunteck Realty rating affirmed AA-minus, outlook upgraded to positive
Mumbai (Maharashtra) [India], February 26 (ANI): India Ratings and Research (Ind-Ra) has affirmed AA-minus on luxury real estate developer Sunteck Realty’s long-term issuer rating with outlook upgraded to positive.
At the same time, the short term issuer rating has been affirmed A1-plus. The upgrade in outlook reflects Ind-Ra’s expectation of an improvement in business profile of Sunteck due to acceleration in the already-consolidating residential real estate market with the pandemic-related disruptions having constrained demand and supply from unorganised developers.
The outlook upgrade is also supported by resilient operating performance of Mumbai-based company despite the pandemic. The price point diversity across completed, ongoing and new project launches, prudent financial policies, strong credit metrics and cashflow visibility also provided conviction to the outlook upgrade.
Chairman and Managing Director Kamal Khetan said the affirmation is a reflection of the company’s continued focus on prudent cash flow management along with financial discipline.
“Strong operating cash flows has aided us in the further reduction of our already negligible debt. We intend to maintain this discipline going forward and focus on financial flexibility to grow our business. Our ongoing focus on execution driven by our strong in-house construction capabilities will continue to generate sustained cash flows for us.”
Khetan said the availability of inventory across Suntech brands and pricing spectrum creates flexibility to offer projects based on needs of various customer segments.
“With a strong uptick on sales front across our portfolio of projects, especially in the mid-income and aspirational segments, we remain confident of emerging as one of the biggest beneficiaries of the ongoing consolidation in industry basis our balance sheet strength, established track record and operational cash flow visibility.” (ANI)
Equities tumble amid global selloff, private lenders hit
Mumbai (Maharashtra) [India], February 26 (ANI): Equity benchmark indices cracked by nearly 1.5 per cent during early hours on Friday tracking similar feeble trend in global markets amid continued sell-off in bond markets.
At 10:15 am, the BSE S&P Sensex was down by 802 points or 1.57 per cent at 50,238 while the Nifty 50 tumbled by 227 points or 1.5 per cent to 14,870.
Except for Nifty pharma, all sectoral indices at the National Stock Exchange were in the negative zone with Nifty private bank down by 2.6 per cent, PSU bank by 2.2 per cent and financial service by 2.3 per cent.
Among stocks, IndusInd Bank slipped by 3.8 per cent to Rs 1,067.25 per share. ICICI Bank and Axis Bank ticked lower by 3 per cent, HDFC Bank by 2.6 per cent and Kotak Mahindra Bank by 2.2 per cent.
The other major losers were Bajaj Finance, Bajaj Finserv, HDFC, GAIL and UPL. However, Maruti Suzuki gained by 1.5 per cent. Pharma majors Dr Reddy’s and Sun Pharma were up by 1.3 per cent and 1.1 per cent respectively.
Meanwhile, Asian stocks skidded to one-month lows as a rout in global bond markets sent yields flying and spooked investors amid fears the heavy losses suffered could trigger distressed selling in other assets.
MSCI’s broadest index of Asia Pacific shares outside Japan slid by 2.4 per cent to a one-month low while Japan’s Nikkei shed 2.5 per cent.
Chinese blue chips joined the retreat with a drop of 2.5 per cent. (ANI)
Cyril Amarchand Mangaldas advises ReNew Power, and its founder Sumant Sinha, on NASDAQ listing through business combination with RMG Acquisition Corporation
Mumbai (Maharashtra)/Delhi, [India], February 25 (ANI/NewsVoir): Separate teams of Cyril Amarchand Mangaldas advised ReNew Power Limited (ReNew Power), and Sumant Sinha (Founder of ReNew Power), in relation to ReNew Power entering into a definitive business combination agreement (“BCA”) with Blank Check company RMG Acquisition Corporation II (RMG II) Pursuant to the BCA, non-resident shareholders of ReNew Power will acquire shares of ReNew Energy Global PLC, a UK entity, in exchange for their shares in ReNew Power, along with a merger of RMG II with ReNew Energy Global PLC and a PIPE investment of over USD 855 million in the combined entity.
This is the first major overseas listing of an Indian company through the SPAC (Special Purpose Acquisition Company) route.
Upon closing of the transaction, ReNew Energy Global PLC and would be publicly listed on NASDAQ under the symbol “RNW”. The total proceeds raised pursuant to the transaction is expected to be approximately USD 1.2 billion, with the listed entity having a market capitalisation of over USD 4.4 billion. The Transaction would bolster ReNew Power’s leading position in solar and wind renewable power generation for the Indian market, by funding medium-term growth opportunities, as well as paying down debt.
Three separate teams of Cyril Amarchand Mangaldas are involved in the transaction.
Advisory Team to ReNew Power
The Capital Markets team advising ReNew is led by Yash Ashar, Partner & Head – Capital Markets; Gokul Rajan, Partner; and Shatarupa Dasgupta, Partner; with support from Jyoti Bhardwaj, Principal Associate-Designate; Nishkarsh Jakhar, Associate; Ambuj Gupta, Associate; Shubham Sancheti, Associate; and Jhalak Shah, Associate.
The Competition team is being led by Vijay Pratap Singh Chauhan, Partner; with support from Ruchi Verma, Senior Associate; and Satvik Mohanty, Associate.
Advisory Team to the Founder Sumant Sinha
The General Corporate, Employment Law, Financing, and Competition team of Cyril Amarchand Mangaldas advised the Founder. The General Corporate team is led by Dhruv Singhal, Partner; with support from Sonakshi Arora, Senior Associate; and Nilomi Doshi, Associate.
The employment team included Rashmi Pradeep, Partner; and Bharat Reddy, Partner.
The financing team is being led by Santosh Janakiram, Partner & Head – Projects; and Sangita John, Partner; with support from Nandita Menon, Senior Associate assisted on implications on promoter level financing related issues.
Other parties involved in the transaction included:
* Goldman Sachs (India) Securities Private Limited and Morgan Stanley India Company Private Limited (“Morgan Stanley”) (financial advisors to ReNew in connection to the business combination)
* Morgan Stanley & Co. LLC (joint placement agent to RMG II on the PIPE)
* Latham & Watkins LLP (legal advisors to ReNew)
* BofA Securities (exclusive financial advisor to RMG II and lead placement agent on the PIPE)
* Skadden, Arps, Slate, Meagher & Flom LLP (legal advisor to RMG II)
* Ropes & Gray LLP (legal counsel to the placement agents on the PIPE)
India’s Leading Law Firm, Cyril Amarchand Mangaldas was founded on May 11, 2015, and takes forward the values going back 103 years, of the erstwhile Amarchand & Mangaldas & Suresh A. Shroff & Co. Tracing its professional lineage to 1917, the Firm has over 750 lawyers, including 137 partners, and offices in India’s key business centres at Mumbai, New Delhi, Bengaluru, Hyderabad, Chennai and Ahmedabad. The firm advises a large and varied client base that includes domestic and foreign commercial enterprises, financial institutions, private equity funds, venture capital funds, startups and governmental and regulatory bodies.
The firm received the “Law Firm of the Year” award at the Asian Legal Business (ALB) India Law Awards 2020 and the “Law Firm of the Year, India” at the Asialaw Regional Awards 2020. The firm was also named as the “Most Innovative National Law Firm of the Year – India for 2020” at the IFLR Asia Awards and voted as the “Employer of Choice for 2020” from India, by the Asian Legal Business.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)
Bhutani Group launches Johari Bazaar
Noida (Uttar Pradesh) [India], February 25 (ANI/NewsVoir): At its coveted Cyberthum Project in Sector 140A Noida, Bhutani Group, one of the leading real estate developers, announced a lucrative offer to own shops.
In Phase I, 67 shops available are part of the project’s smart and linked campus. A Johari Bazaar by Bhutani Group, the total area of the shops is 38,000 Sq.ft., and Rs 99 lakhs is the minimum investment. A part of the 26.8-acre mixed-use development, the project will be delivered within three years. Those booking shops here will get a return of 12 per cent annually until the shops are handed over.
The Group says that the Noida residents will not have to go far to buy jewellery as it will all be available at one place at the Johari Bazaar. Bhutani Johari Bazaar’s location makes it an ideal investment option, with an estimated short-term appreciation of 15-20 per cent. Ashish Bhutani, MD, Bhutani Group, said, “At present, the residents of Noida, Greater Noida, Ghaziabad have to turn to Delhi to purchase jewellery.
People’s first choice for jewellery shopping in crowded areas like Karol Bagh or Sadar Bazaar and there is no guarantee of getting jewellery of your choice. Our jeweller market will not disappoint customers. The goal is to bring popular experience to the doorstep of everyone.
We would love to have an assortment of jewellers here. After extensive research on the disposable incomes of the residents here and of adjacent sectors, we conceptualised the bazaar.”
Bhutani Johari Bazaar, surrounded by residential sectors and some of the best projects, is expected to become the centre of attraction for people looking to get into serious shopping. Covering a total area of 26.8 acres, the commercial project provides Business space (MyPod), food courts (FoodZania), retail shops and a futuristic gaming zone (Bolt). Some of the highlights of the project include one of North India’s tallest commercial tower, 50 level iconic towers, one of North India’s largest musical fountain, Leed platinum-certified building, and the office towers designed as a vertical campus.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)
Radhika Khemka, the creative force behind one of the leading sanitary napkins brand “Niine”
New Delhi [India], February 25 (ANI/ThePRTree): Being a woman herself, Radhika Khemka reckons that she could empathize and understand the needful situation of women in her country.
Besides the provision, she plans to raise awareness and hygiene education prominently highlighting the importance of menstrual hygiene and the need to normalize menstruation.
Apart from being a crucial part of the management of shudh plus hygiene products Pvt.Ltd and in the Khemma household, Radhika also holds a keen interest in the areas of dance, music and fashion. During the pandemic, she took a step forward to support girls and women with menstrual hygiene in association with innumerable NGOs, government officials, college students and celebrities.
She is an idol and inspiration for many women to foster their partner’s growth as she played a vital role in her husband’s heights. When asked about her vision and contribution to the company, she replied, “Menstruation is very essential as it is required in a crucial health stage in a woman’s life. It is very unfortunate that taboo notions are raised against a process that is very natural and empowering.
Normalizing must begin in one’s mind, then in the hood and then in the world. Men should take up a crucial role in normalizing the taboo and hence do their active part in breaking the stereotype that would instil confidence in women to feel rightful, belonged and empowered”. Her life goals predominately are centred around the development of women.
She aims to educate maximum girls and women about the importance of menstrual hygiene through workshops across various schools and colleges.
Her vision to reach out to every possible corner of the country has led her to create a chain of niine which she reckons as a sweet and rewarding experience. It became quite astonishing to know that Rajasthan Royals has become the first-ever cricket team to collaborate and sponsor a sanitary napkins brand. The highlight of this collaboration was jersey as it constituted Color purple which is formed by the concoction of two colours blue and pink respectively.
While blue represents masculinity, the colour pink connotes feminine vibrations highlighting the scope of gender equality which will clearly eliminate the menstrual stigma and make the world for humankind to harmonize their lives.
Co-founder Niine Foundation Radhika Khemka, collaborated with Princess Diya kumari foundation during IPL 2020 to support 9 girls with menstrual hygiene on each run scored by team Rajasthan Royals throughout IPL 2020 It is needless to say that it was a perfect connection of the two organizations to bind and empower as they always aspired for the betterment of women.
This story is provided by ThePRTree. ANI will not be responsible in any way for the content of this article. (ANI/ThePRTree)
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