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  • ‘Broken table, broken leg rests, stuck chair’ – Vir Das calls out Air India for ‘service gaps’ after paying Rs 50k per seat

    ‘Broken table, broken leg rests, stuck chair’ – Vir Das calls out Air India for ‘service gaps’ after paying Rs 50k per seat

    Comedian and actor Vir Das recently took to social media to share a frustrating experience he had while flying with Air India, despite being a long-time supporter of the airline. Das and his wife were traveling to Delhi, and had booked special assistance including a wheelchair and the Pranaam service, as his wife is recovering from a foot fracture.

    However, things didn’t go as expected. According to Das, they had paid Rs 50,000 per seat, but the flight had several issues. The tray table was broken, the leg rests weren’t working, and his wife’s seat was stuck in a reclined position and couldn’t be adjusted properly. To make it worse, the flight, which was described as “newly refurbished,” was delayed by two hours.

    When they finally landed in Delhi, they were informed they would need to exit using a stepladder. Das asked the cabin crew for help with his wife while he managed their luggage, but said he received no response and only confused looks. At the aircraft door, he asked a male ground staff member for help, but was met with the response, “sir kya Karein…sorry”.

    Things did not get any better once they were inside the terminal. Das had pre-booked it, the wheelchair staff was told by the service personnel, but the person in charge of the wheelchairs did not appear to know. Das claimed that despite the large number of wheelchairs there, no staff was on hand, most likely as a result of the delay. In order to go to baggage claim, the terminal, and the parking lot, Das had to push the wheelchair himself.

    Das added that no one from Air India replied or followed up after he informed the airline about the problems via Encalm. One of Air India’s wheelchairs is now left on the second level of the parking lot in Delhi, and they are free to come and retrieve it, Das said in a lighthearted but direct farewell.

    Das noted his unhappiness with the ground crew’s lack of support and poor coordination during the flight, but he commended the cabin crew as among of the friendliest in the sky.

    “We understand and empathize with the experience,” was Air India’s customary answer to Das’ social media post. Please DM us with the booking details so we can investigate this as soon as possible. Das wrote, “Get your wheelchair bro,” and provided the flight number, AI816.

  • After being removed from life support, an autistic teen who was shot nine times by US police passes away.

    After being removed from life support, an autistic teen who was shot nine times by US police passes away.

    Days after being shot nine times by police in Pocatello, Idaho, Victor Perez, a 17-year-old nonverbal autistic kid, passed away after being removed from life support, according to the Associated Press. On April 5, officers were called to his house and discovered the teenager in a fenced-in yard, brandishing a knife. Within seconds of their arrival, cops opened fire on the adolescent despite the fence separating them, and they seemed to do nothing to defuse the situation.

    After that, Perez, who also had cerebral palsy, was sent in critical condition to the hospital. Due to the extent of his injuries, doctors had to amputate one of his legs and extract nine bullets from his body. Later, he slid into

    What has happened?

    When police in Pocatello, Idaho, received a 911 call, they learned that a drunk man brandishing a knife was pursuing a person in a yard. The man was none other than Perez, who, because of his infirmities, walked with a staggered pace. Before the authorities came, members of his family had been attempting to remove the huge kitchen knife from him.

    When four cops came, Perez had fallen over and was lying in his yard, according to a neighbor’s video of the incident. They hurried over to him and told him to put down the knife. Unable to comprehend their orders, Perez rose slowly and staggered in their direction. Officers started shooting at him at that point.

    According to The Associated Press, his aunt Ana Vazquez stated, “Everyone was trying to tell the police, no, no.” The four officers showed no concern. They did not inquire about the circumstances or what was going on,” he said, “and how is he going to jump the fence when he can hardly walk?”

    Officers placed on administrative leave

    Administrative leave has been imposed on all four of the cops who were involved in the incident. A decision on possible charges will be made after the Eastern Idaho Critical Incident Team completes its investigation.

    “Said report will be reviewed by an agency outside of Bannock County to ensure independent and objective consideration,” Bannock County Prosecutor Ian Johnson told the AP.

    GoFundMe campaign for Perez

    His family launched a Justice for Victor Perez GoFundMe page. The campaign claims that Perez is a teen with autism who also has mental health problems. It went on to say that “a neighbor called the police to de-escalate the situation, and four members of the Pocatello PD arrived on the scene and within 30 seconds had shot him.” “He is physically disabled and unable to walk well, and his sister was struggling to help him stand up off the ground in their front yard,” the statement continued.

    One person who donated $30 said, “I have an adult son with autism,” in response to the US police shooting of the teenager. He may have been the one. This is unacceptable! In order to interact with people who have mental illness, autism, or any other disorder that is beyond their control, police officers must be properly taught and equipped. I am so sorry for your family’s loss. For his sister, who was attempting to assist her brother and had to witness this unjust tragedy. It breaks my heart for all of you!

    “I sincerely apologize for your loss. As a mother of three autistic children, I share your grief. This was not supposed to occur. Another person who gave $25 to the charity remarked, “My heart goes out to you all.”

    The third person who donated $100 wrote on social media, “I have been thinking about your family all week.” What a disaster. I am praying for peace and better police training for your family. Victor, may you rest in peace. You have an entire community of individuals who care about you and are rooting for you.

    ASAN condemns police violence

    The Autistic Self Advocacy Network (ASAN) released a statement saying, “Our hearts are with Victor’s family, community, and everyone who is reeling in the wake of this tragedy.”

    It stated, “Pocatello’s police chief maintains that ‘the threat [to the police officers] was immediate’ and justified their shooting, despite the speed at which police opened fire and the fact that there was a barrier between them and Victor.”

    “ASAN has long argued that police in the United States pose a threat to disabled people, particularly disabled people of color like Victor Perez, because of the culture of policing.” It trains police officers to use deadly force to seize control of any situation right away. People with disabilities could find it difficult to instantly comply with police demands. This case demonstrates how police can use lethal force even when there is a delay in following an order. The statement also said that police officers receiving autism-specific training are not the answer because “there have been cases where police who have been through autism-specific trainings still went on to shoot and kill autistic people.” “Too often, police see any person acting unusually as a danger to them and the public,” the statement continued.

  • Our watch list for the best-performing bluechip mutual funds for FY 2025–2026

    Our watch list for the best-performing bluechip mutual funds for FY 2025–2026

     

    Templeton’s aforementioned quotation serves as a sobering reminder that markets are cyclical and that overconfidence should be regarded with caution because it frequently precedes a market decline. Investors can make better investing selections and more skillfully manage market ups and downs by being aware of this.

    Unsurprisingly, the Indian stock market has been struggling with significant selling pressure in recent months as a result of persistent outflows of foreign capital, despite having had robust returns over the previous two years.

    The Indian economy and corporate earnings were already showing signs of weakness but global uncertainties added to the woes. US President Donald Trump announced fresh tariffs on trade partners and thereafter some countries announced retaliatory tariffs on US goods & services.

    The Trump administration has declared a high reciprocal tariff of 26 percent for India. Businesses in export-oriented industries like auto and ancillary, pharmaceutical, information technology, engineering, and gems and jewelry are anticipated to be impacted. Although no announcement has been made as of yet, reports indicate that India is considering lowering duties on US imports in an effort to lessen the impact.

    Fears of a potential trade war that may impede global economic growth and lead to a rise in inflation have been heightened by the prospect of tariffs and the potential retaliation actions by certain nations. Consequently, there have been market corrections.

    Why investors should prefer Large Cap Funds (Bluechip Funds) now?

    So far in 2025, the large-cap segment has performed better than the mid-cap and small-cap segments, in contrast to the previous two years. The BSE Sensex has dropped 5,000 points, or 6.4%, in value. On a year-to-date basis, the BSE Midcap index and BSE Smallcap index underperformed, plunging 15.8% and 20.3%, respectively.

    Large-cap equities, sometimes referred to as bluechip stocks, are anticipated to provide higher risk-adjusted returns than mid- and small-cap stocks in the current calendar years, even if market consolidation is likely to continue in the near future due to weak global cues.

    This is because the large-cap segment’s valuations presently seem to be in an advantageous position due to persistent selling by foreign investors. Despite the recent corrections, there are still pockets of overvalued stocks in the mid and small-cap sectors.

    With a current margin of safety of about 21x, the Nifty 50 PE is trading below its long-term average of about 24.8x. However, a substantial premium is indicated by the BSE Smallcap to Sensex ratio, which is currently close to 0.61 and significantly higher than the long-term median of 0.47.

    It is important to remember that large-cap companies often offer more stability and less downside risk than mid- and small-cap stocks during times of increased market volatility. When market mood changes, bluechip stocks are also likely to draw in foreign investment, which could lead to substantial gains. For long-term investors looking for steady growth, large-cap funds, also known as bluechip funds, are a dependable option due to the comparatively lower risk profile of large-cap equities.

    Which are the top performing Bluechip Funds to watch out in FY 2025-26?

    #1 Nippon India Large Cap Fund

    Since its August 2007 launch, the Nippon India Large Cap Fund has demonstrated its capacity to take advantage of market rallies, which enables it to produce respectable alpha and successfully traverse full market cycles. The fund looks for high-growth prospects in large-cap stocks as well as strategic exposure to mid- and small-cap stocks, instead of following market trends.

    Over the past five years, the Nippon India Large Cap Fund has returned 21.5% on a rolling returns basis, outpacing the 18.2% category average return and the 18.3% returns of the benchmark BSE 100-TRI.

    Table 1: Nippon India Large Cap Fund 5-year performance

    Scheme Name Returns (%) Category Returns (%) Benchmark Returns (%)
    Nippon India Large Cap Fund 21.48 18.24 18.34
    The securities quoted are for illustration only and are not recommendatory. Past performance is not an indicator for future returns
    Data as of April 04, 2025
    Returns are on a rolling return basis in CAGR (%). Direct Plan – Growth option considered
    (Source: ACE MF, data collated by PersonalFN Research)

    83.2% of the Nippon India Large Cap Fund’s assets as of February 28, 2025, are in large caps, 11.2% are in mid-caps, 4% are in small-caps, and the remaining portion is in cash.

    HDFC Bank, Reliance Industries, ICICI Bank, Axis Bank, and Bajaj Finance are among its major stock holdings.

    #2 ICICI Pru Bluechip Fund

    The ICICI Prudential Bluechip Fund, which was introduced in May 2008, has a proven track record of exhibiting steady performance and providing substantial long-term returns. The strategy used by the fund is to find high-growth potential stocks that are reasonably priced and free of sector bias.

    In comparison to the category average return of 18.2% and the benchmark Nifty 100-TRI return of 17.6%, the ICICI Pru Bluechip Fund has gained 20.7% on a rolling returns basis over the previous five years.

    Table 2: ICICI Pru Bluechip Fund 5-year performance

    Scheme Name Returns (%) Category Returns (%) Benchmark Returns (%)
    ICICI Pru Bluechip Fund 20.69 18.24 17.64
    The securities quoted are for illustration only and are not recommendatory. Past performance is not an indicator for future returns Data as of April 04, 2025 Returns are on a rolling return basis in CAGR (%). Direct Plan – Growth option considered (Source: ACE MF, data collated by PersonalFN Research)

    The ICICI Pru Bluechip Fund has 85% of its assets in large-cap stocks, 6.2% in mid-cap stocks, and only 0.66% in small-cap stocks as of February 28, 2025. The remaining portion is cash.

    Among other companies, the fund has a significant amount of exposure to HDFC Bank, ICICI Bank, L&T, Reliance Industries, and Bharti Airtel.

    #3 Canara Robeco Bluechip Equity Fund

    Canara Robeco Bluechip Equity Fund, a carefully managed large-cap fund that was introduced in August 2010, has a history of reliably outperforming other funds in a range of market conditions. The fund invests in a mix approach, meaning it seeks out high-growth stocks that are reasonably valued and maintains its position over time.

    In comparison to the category average return of 18.2% and the benchmark BSE 100-TRI return of 18.3%, the Canara Robeco Bluechip Fund has gained 20.1% on a rolling returns basis over the last five years.

    Table 3: Canara Robeco Bluechip Equity Fund 5-year performance

    Scheme Name Returns (%) Category Returns (%) Benchmark Returns (%)
    Canara Rob Bluechip Equity Fund 20.11 18.24 18.34
    The securities quoted are for illustration only and are not recommendatory. Past performance is not an indicator for future returns
    Data as of April 04, 2025
    Returns are on a rolling return basis in CAGR (%). Direct Plan – Growth option considered
    (Source: ACE MF, data collated by PersonalFN Research)

    The Canara Robeco Bluechip Fund has 88% of its assets in large-cap stocks and 7.7% in mid-cap stocks as of February 28, 2025. It has no exposure to small-cap stocks and keeps the remaining portion in cash.

    The fund is more heavily invested in Bharti Airtel, HDFC Bank, ICICI Bank, Infosys, and Reliance Industries.

    #4 Baroda BNP Paribas Large Cap Fund

    Since its launch in September 2004, the Baroda BNP Paribas Large Cap Fund has repeatedly outperformed both the category average and the benchmark Nifty 100-TRI. By adhering to the investment tenet of “Growth at a Reasonable Price,” it strategically exposes investors to mid-cap firms while concentrating on selecting large-cap stocks with sound balance sheets.

    In comparison to the category average return of 18.2% and the 17.6% returns of the benchmark Nifty 100-TRI, the Baroda BNP Paribas Large Cap Fund has gained 20% on a rolling returns basis over the last five years.

    Table 4: Baroda BNP Paribas Large Cap Fund 5-year performance

    Scheme Name Returns (%) Category Returns (%) Benchmark Returns (%)
    Baroda BNP Paribas Large Cap Fund 20.04 18.24 17.64
    The securities quoted are for illustration only and are not recommendatory. Past performance is not an indicator for future returns
    Data as of April 04, 2025
    Returns are on a rolling return basis in CAGR (%). Direct Plan – Growth option considered
    (Source: ACE MF, data collated by PersonalFN Research)

    82.1% of the Baroda BNP Paribas Large Cap Fund’s assets as of February 28, 2025, are in large caps, 9.2% are in mid-caps, and the remaining portion is in cash.

    HDFC Bank, ICICI Bank, Reliance Industries, TCS, and Kotak Mahindra Bank are the fund’s biggest exposures.

    #5 Invesco India Largecap Fund

    Since its launch in August 2009, the Invesco India Largecap Fund has demonstrated a history of consistently outperforming both the benchmark and the category average by a significant margin. With some exposure to value opportunities, the fund favors investing in large-cap, growth-oriented firms.

    Over the past five years, the Invesco India Largecap Fund has returned 19.9% on a rolling returns basis, outpacing the category average return of 18.2% and the benchmark Nifty 100-TRI’s 17.6% return.

    Table 5: Invesco India Large Cap Fund 5-year performance

    Scheme Name Returns (%) Category Returns (%) Benchmark Returns (%)
    Invesco India Largecap Fund 19.87 18.24 17.64
    The securities quoted are for illustration only and are not recommendatory. Past performance is not an indicator for future returns
    Data as of April 04, 2025
    Returns are on a rolling return basis in CAGR (%). Direct Plan – Growth option considered
    (Source: ACE MF, data collated by PersonalFN Research)

    The Invesco India Largecap Fund has 84.5% of its assets in large-cap stocks as of February 28, 2025, 9.2% in mid-cap stocks, 5.9% in small-cap stocks, and the remaining amount in cash.

    The fund is optimistic about large-cap giants like Reliance Industries, HDFC Bank, ICICI Bank, Infosys, and Bharti Airtel.

    To Conclude…

    The risk-reward ratio seems to be moving in favor of large-cap funds, in contrast to recent years. These funds are made up of reputable businesses that have the potential to provide consistent profits in the future. As a result, while large-cap funds may not be able to produce exceptionally high returns, they can provide superior protection against downside risk in comparison to mid-cap and small-cap funds, which will ultimately provide investors with sufficient returns.

    Nevertheless, investing in large-cap funds carries some risk because they are also subject to market swings. Therefore, when investing in large-cap funds, one should have a minimum three to five-year investment horizon.

    Although market corrections might cause investors to feel uneasy, it is important to remember that they give fund managers a chance to choose firms with promising long-term outlooks. As a result, investors with a long-term outlook can continue to allocate to Bluechip mutual funds through SIP or by making lump sum investments spaced out over time.

    Investors should carefully choose schemes that consistently perform well on both qualitative and quantitative metrics because performance is not a reliable predictor of future returns.

  • In just one year, this Tata Group stock has dropped 20%. Could an agreement with NTPC change the game?

    In just one year, this Tata Group stock has dropped 20%. Could an agreement with NTPC change the game?

    After the company’s subsidiary secured an order worth Rs 4,500 crore from NTPC for 200 MW dispatchable renewable projects, Tata Power’s share price will be closely watched.

    Tata Power Renewable Energy, a division of Tata Power, has entered into a power buying agreement (PPA) with NTPC to build a 200 MW Firm and Dispatchable Renewable Energy project. The deal includes provisions for an assured power supply in accordance with NTPC’s scheduling requirements, the firm stated in an exchange filing. The project is expected to be finished in 24 months.

    The Maharashtra Electricity Regulatory Commission gave the corporation permission a week ago to install a 100 MW Battery Energy Storage System (BESS) in Mumbai.

    According to an exchange filing, “Tata Power’s Power System Control Center (PSCC) will centrally monitor and control the entire 100 MW system, which will be installed across 10 strategically located sites, particularly near load centers across Mumbai Distribution.”

    In the event of grid disruptions, the state-of-the-art BESS technology’s sophisticated “black start” capability will allow for a prompt restoration of power supply to vital infrastructure, such as data centers, hospitals, airports, and the metro. This will improve the resilience of Mumbai’s electricity network and stop widespread blackouts. Furthermore, the advanced technology of the system will optimize reactive power management, enhancing the efficiency of peak demand and fortifying the city’s electrical infrastructure.

    Tata Power Q3 result 

    In comparison to the same quarter last year, when it made Rs 1,076 crore, the company’s net profit for the quarter increased by 10.3% year over year to Rs 1,187 crore. In Q3 of FY25, revenue reached Rs 15,391 crore, a 5% YoY growth. Operating profit margins increased by more than 500 basis points to 21.8% from 16.5% the year before, while Tata Power’s earnings before interest, tax, depreciation, and amortisation (EBITDA) increased by 39% YoY to Rs 3,352 crore.

    Tata Power’s stock performance

    Over the past five trading sessions, the power stock of the Tata Group has dropped by more than 5.3%. Over the past month, the stock has increased by 0.6%. But during the last six months, it has dropped by more than 21%. Over the past year, Tata Power’s share price has dropped by more than 17%.

  • Trump Tariffs Live Updates: As the US looks into imports of chips and pharmaceuticals, a new tariff threat emerges

    Trump Tariffs Live Updates: As the US looks into imports of chips and pharmaceuticals, a new tariff threat emerges

    Live Updates on Trump Tariffs: Imports of pharmaceuticals and semiconductors are being investigated because of worries that the United States’ significant reliance on foreign-made medications and microchips could endanger national security. Protecting domestic manufacturing of these essential commodities is crucial, according to President Trump’s constant arguments, especially in light of growing trade tensions with important suppliers like China.

    Live Updates on Trump Tariffs:The Trump administration is proceeding with its investigations into imports of semiconductors and pharmaceuticals, indicating that it may impose tariffs on both industries. The investigations are motivated by worries that the United States’ significant reliance on foreign-produced medications and microchips could endanger national security, according to Federal Register documents made public on Monday. Additionally, the announcements invited industry and public input during 21-day public comment periods. President Donald Trump is using Section 232 of the Trade Expansion Act of 1962, which permits tariffs on imports considered to be detrimental to national security, for the first time with these acts. Trump has frequently maintained that it is crucial to protect home manufacturing of vital products like semiconductors and medications, particularly in light of the increased trade tensions with important suppliers like China.

    Salmonella was discovered in bird meat and bone meal imported from the United States, according to a China Customs spokesperson. China will now closely adhere to laws and regulations to improve checks and inspections on all imported goods, he stressed.

    After a weekend of conflicting signals that created doubt, US President Donald Trump made an effort to clarify the new US tariffs on Chinese electronic products. Trump claimed in a post on Truth Social that no nation, particularly China, is receiving preferential treatment in trade.

    “No one, especially not China, which treats us the worst, is getting “off the hook” for the unfair trade balances and non-monetary tariff barriers that other nations have used against us!” Trump wrote.

    Trump denied reports that suggested exemptions for semiconductors and smartphones, claiming that no new exception was declared on Friday. He explained that although these products are now falling under a different tariff category, they are still subject to the current 20% fentanyl-related taxes. He also attacked the media for their inaccurate coverage of the issue.

    This follows US Customs and Border Protection’s decision on Friday night to temporarily exempt some digital products, such as laptops, hard drives, and smartphones, from the proposed tariffs. The tech industry was relieved by the decision, as many of these goods are manufactured in China.

    However, Trump officials are now claiming that the suspension is merely temporary, according to CNN. They clarified during interviews on several television channels that the delay is a result of a broader analysis of the national security threats associated with the importation of semiconductors, which are essential parts of many technological gadgets.

    Trump claimed that as part of impending national security inquiries, his staff is now examining the complete electronics supply chain. He went on to say that the objective is still the same: fewer imports and more American-made goods.

    In an interview with Fox News, deputy chief of staff Stephen Miller stated that all businesses will be required to pay a minimum 20% levy, despite the fact that a more comprehensive list is still being compiled. A higher charge of 125% will be applied to certain products. The Department of Commerce is also conducting a specific review of these commodities.

    Miller claimed that because these technological items are essential to US security, this was “always the plan.” President Trump is defending the action by using Section 232 of the Trade Expansion Act of 1962, which states that it is critical that the US not become overly dependent on electronics manufactured abroad.

    Trump’s announcements on semiconductors

    Trump, meantime, stated on Saturday that he would give an update on Monday regarding his administration’s strategy for the tariffs on semiconductors. Stay tuned for additional updates regarding Trump tariffs.

  • Why Pfizer abandoned the development of obesity pills: An analysis of weight-loss medication market shares

    Why Pfizer abandoned the development of obesity pills: An analysis of weight-loss medication market shares

    On Monday, Pfizer announced that it has ceased developing the experimental weight-loss tablet danuglipron because a study participant had possible drug-induced liver damage that went away once the medicine was stopped.

    After abandoning the development of a twice-daily version of the oral medication in late 2023 because the majority of patients left a mid-stage trial due to frequent episodes of nausea and vomiting, among other side effects, the business had been testing several dosages of a once-daily version.

    Weight-loss drug market

    In the profitable weight-loss medication industry, which is presently controlled by weekly injections of Novo Nordisk’s Wegovy and Eli Lilly’s Zepbound, Pfizer’s danuglipron might have been a practical substitute. Pharmaceutical businesses and investors have shown a great deal of interest in this sector, which is predicted to generate $150 billion in sales over the next several years.

    The enormous success of injectable medications that target the intestinal hormone GLP-1 has prompted several companies to produce weight-loss pills. The Phase 3 trial results for Lilly’s medication orforglipron should be released any day now.

    Since all of Pfizer’s other obesity medications are still in the early phases of clinical testing, the company is beginning again with the discontinuance of its GLP-1 tablet, according to analyst Evan Seigerman of BMO Capital Markets. Pfizer could potentially look for a collaboration or deal in the near future, according to Seigerman.

    The announcement also caused shares of smaller weight-loss drug makers, such Viking Therapeutics and Structure Therapeutics, to increase by 8% to 10%. Lilly’s stock increased 2.6%, while Novo Nordisk’s shares, which are traded in Copenhagen, increased by more than 3%. Pfizer’s stock increased by almost 1%, which was less than the 1.5% increase in the S&P 500 index as a whole.

    Pfizer’s weight-loss pill danuglipron abandoned after liver injury report

    According to Pfizer, once-daily danuglipron dose-optimization studies revealed that the overall frequency of liver enzyme increases among 1,400 trial participants was comparable to that of approved medications in the class. However, one patient experienced liver damage.Pfizer announced that it has chosen to stop researching danuglipron after reviewing all available data, including all clinical data produced thus far and recent feedback from regulators.

    The development of its experimental oral medication that targets a separate hormone, GIPR, and other previous obesity program research will continue.According to Pfizer, data from the danuglipron trial program will either be submitted for publication in a peer-reviewed journal or presented at a future scientific forum.

  • Mehul Choksi’s extradition to India will not be simple, according to a PNB scandal whistleblower: He has a full wallet. similar to Vijay Mallya.

    Mehul Choksi’s extradition to India will not be simple, according to a PNB scandal whistleblower: He has a full wallet. similar to Vijay Mallya.

    Extraditing Mehul Choksi to India, who cheated the bank of Rs 13,000 crore with his nephew Nirav Modi, would be challenging, according to PNB scam whistleblower Hari Prasad SV, because his “wallet is full” and he has a “big booty of money.” He went on to say that, like Vijay Mallya, he would pay the top attorneys in Europe to circumvent the procedure. Following his firm, Kingfisher Airlines, defaulting on loans totaling more than Rs 9,000 crore, Mallya is currently evading Indian authorities.

    “Tradition will not be a simple undertaking. He has plenty of money and, like Vijay Mallya, he will hire the top counsel in Europe. He told news agency ANI, “India is having a hard time getting him back.”

    He went on to say, “The procedure we must adhere to when interacting with a foreign nation varies depending on the nation in question. The legal systems and laws will be established. I hope they can bring him back, but it takes a long time. He will not take it easy, thus that is the only chance. He employs the world’s top attorneys in his fleet. To begin with, he has a lot of

    “Even though he was caught in Antigua, he managed to get out of it as he had a fleet of lawyers,” Hariprasad added, highlighting Choksi’s ability to evade legal procedures after being apprehended before. The Indian government will have a difficult time, but I hope they are successful this time.

    The arrest of Mehul Choksi in Belgium is fantastic news for India and everyone who was defrauded by him. He added, “the most important thing is to get back all those billions of dollars he looted from India and stashed anywhere in the world.” “The government must bring him back to India as soon as possible, and justice must be delivered,” he added.

    After pointing out the disparities in the balance sheets, Bengaluru-based businessman Hari Prasad wrote to the Prime Minister’s Office (PMO) on July 26, 2016, regarding a possible massive scam. According to him, Choksi defrauded hundreds of franchises throughout India, and several lawsuits were brought against him in various locations. He recalled, “Even though I had his arrest warrant from Bengaluru police, nothing really happened because he was smart enough to escape the law’s grasp.”

    Indian authorities travel to Belgium

    A group of Indian authorities is set to travel to Belgium after Choksi was arrested by Belgian authorities on April 12 in order to expedite the extradition process against Choksi. The arrest of Mehul Choksi took place on Saturday, April 12, 2025. He is being held pending the outcome of additional legal actions. He has been guaranteed access to his legal counsel. It is confirmed by the Belgian Federal Public Service of Justice that Choksi has been the subject of an extradition request from Indian authorities, the agency stated.

    Choksi had intended to escape to Switzerland for medical care and settle there when he was arrested. It would take him at least a week to apply for bail.

    Mehul Choksi, my client, was arrested in Belgium and is still being held. In order to challenge this, we will first begin the appeals procedure, after which we will ask that he be released from prison. His poor health and the fact that he is receiving cancer treatment are the main reasons for the plea, according to India Today, which cited his attorney Vijay Aggarwal.

    Mehul Choksi arrested in Belgium: Timeline of events

    2017: Mehul Choksi became a citizen of Antigua by means of the citizenship-by-investment scheme.

    2018: Mehul Choksi moved in Antigua after fleeing to the United States just weeks before the scheme was discovered.

    2019 saw the arrest of Nirav Modi, Choksi’s nephew, who was a co-accused in one of the largest banking scandals, in London. He is still incarcerated in the UK after exhausting all legal avenues to prevent extradition to India.

    2023: Despite India’s plea for Mehul Choksi’s extradition, Interpol canceled the Red Notice that had been issued against him.

    2024: According to sources, Choksi and his spouse relocated from Antigua to Belgium, and they were also apparently thinking about relocating to Geneva, Switzerland.

    2025: Choksi’s attorney told a Mumbai special court that he is now receiving treatment for blood cancer in Antwerp, Belgium.

    Choksi received his F-Residency card from Belgium two weeks prior to his detention.

    Who is Mehul Choksi?

    Mehul Choksi is wanted by Indian police and is one of the co-accused in the PNB scandal. The now-defunct Gitanjali Group, which had thousands of stores throughout India, was owned by him.

    Choksi was born in Bombay (now Mumbai) in May 1959 to Chinubhai Choksi. He has two kids and a son and finished his formal education at Gujarat’s GD Modi College.In 1975, Choksi entered the gem and jewelry business, and in 1985, he succeeded his father at Gitanjali Gems. The business grew under his direction, moving beyond its original emphasis on polished and raw diamonds.

  • Why did Trump cancel $2 billion in Harvard funds? Face-off after his demands were denied by the university

    Why did Trump cancel $2 billion in Harvard funds? Face-off after his demands were denied by the university

    Harvard University declared that it would not abide by a number of demands made by the Trump administration, claiming that doing so would essentially hand over control of the private university to a conservative government that is determined to transform higher education. In a prompt move, the government announced that $2.3 billion in federal money would be frozen.

    Just hours after Harvard University rejected President Donald Trump’s requests for radical changes to its campus governance and diversity practices, the US Department of Education on Monday froze more than $2 billion in government funding for the university.

    Harvard firmly refused to abide by a number of demands made by the Trump administration, claiming that doing so would essentially hand over control of the private university to a conservative government that wants to change higher education. An already high-stakes dispute over academic freedom, campus speech, and the role of government control in institutions was intensified when the administration promptly responded by declaring a freeze of $2.3 billion in federal funding.

    Harvard President Alan Garber referred to the requests as a “direct assault on the university’s independence and core values” in a public letter. “What private universities can teach, who they can admit and hire, and what study and inquiry areas they can pursue should not be dictated by any government, regardless of which party is in power,” Garber wrote.

    Crackdown targets antisemitism allegations

    After pro-Palestinian student demonstrations broke out on campuses around the country in response to the 2023 Israel-Hamas conflict, the conflict comes after months of federal scrutiny. Harvard is among the universities that the Trump administration has charged with ignoring antisemitism. On Monday, a Department of Education task committee accused Harvard of violating its civil rights commitments related to federal money and displaying a “troubling entitlement mindset.”

    The administration has started the deportation process against those international students who participated in protests and frozen hundreds of millions of dollars in financing to several universities. Hundreds more have reportedly had their visas revoked.

    Sweeping demands on admissions, hiring, and speech

    Harvard was required by the federal government to abolish racial discrimination, hire and accept students only on the basis of merit, and audit staff and students for “viewpoint diversity.” The university was also mandated to report any infractions to immigration authorities and examine foreign applicants for conformity with “American values.”

    Harvard, alongside Columbia University, whose federal money has also been partially suspended, is currently involved in legal challenges against the administration’s actions. According to reports, Harvard is looking to borrow $750 million from private markets to help offset the possible losses.

  • “Adaptability will be necessary for trade negotiations with regional blocs to be successful,” Montek Singh Ahluwalia says

    “Adaptability will be necessary for trade negotiations with regional blocs to be successful,” Montek Singh Ahluwalia says

    Former Planning Commission deputy chairman Montek Singh Ahluwalia, who is now a Distinguished Fellow at the Centre for Social and Economic Progress (CSEP), tells E Kumar Sharma that India must adopt a flexible strategy in order to conclude the Bilateral Trade Agreement with the US and the Free Trade Agreements with the EU and the UK as soon as possible. He also discusses a variety of other topics, such as the difficulties facing the pharmaceutical sector, China’s efforts to abandon dollar-based settlements, and whether or not India should impose a carbon tax. Excerpts:

    Joining trade blocs is obviously necessary. Historically, we have supported trade liberalization through multilateral trade negotiations (MTNs) run by the World Trade Organization (WTO); however, the majority of developed countries have since abandoned MTNs. In addition to finding it extremely challenging to reach an agreement with all 194 nations, they felt that WTO negotiations were primarily focused on lowering tariffs, while they were becoming more and more concerned with “behind the border” issues like investor protection, labor standards, phytosanitary standards, patent rights, and environmental concerns. Plurilateral agreements, which are usually “deeper” than regular free trade agreements (FTAs) since they cover concerns beyond the border, proliferated as a result.

    We must join these blocs if we wish to guarantee access to these markets. It is advantageous in this regard that we are presently debating free trade agreements (FTAs) with the US and the EU and the UK as well as a bilateral trade agreement (BTA) with the US. However, we must equally acknowledge that we will need to be more adaptable if we want to succeed.

    We must first acknowledge that our tariffs are significantly higher than those of the majority of other nations and that, for our own benefit, they should be lowered. On some of the concerns that lie behind the border, we should also be willing to reach a consensus. It goes without saying that we must safeguard our national interests, but we should carefully examine what is best for our country. Procedural grounds like “we have always opposed including behind the border issues in trade agreements” should not be used. Mercosur and the EU just concluded a free trade agreement. It covers a number of non-tariff concerns. Why can not we do it if they can?

    Pharmaceuticals exports to the US matter for India as do the supply of low-cost generics for the US. The Indian pharmaceutical industry has been pitching for building on this and aims to double the trade to $500 billion or the Mission 500, as it is being called. What is your view on the approach to negotiations here?

    Thus far, we have performed well in this crucial area. Our interests in this field should be safeguarded by the bilateral agreement, I hope. We are strong at creating generics, and the US health system needs high-quality generics to keep costs down. Although the US pharmaceutical business is highly powerful, many of its stances are hostile to US consumers.

    Beyond the US, the market for affordable medications in poorer nations is also crucial. We are in a good position to provide the many medications that are coming off patent. At home, we need far more robust quality control.

    The fact that China is now producing more active medicinal components is a major shortcoming in this field. This change is a result of both China’s ability to manufacture on a large scale and the government’s increased support for its producers. We must lessen our heavy reliance on Chinese API imports at the moment. The imposition of an anti-dumping duty can deter imports from China. We ought to have a well-thought-out PLI plan in this field as well. When I say “well designed,” I mean a plan that is clear about the conditions under which help will be given.

    In order to provide land and address environmental concerns and pollution norms, we also require a lot more supportive policy. The Center should collaborate with the states to establish API production zones in which the states supply land at appropriate locations, the Center funds the construction of necessary infrastructure, particularly to enable effluent treatment, and the two parties jointly coordinate on environmental and pollution standards.

    From the perspective of supply security, relying on domestically produced APIs may result in higher pharmaceutical input costs than if we remained dependent on China. But it is also critical to make sure that the Drugs Price Controller permits the higher costs under the price control that is placed on formulations. Therefore, several things must come together.

  • India’s startup failure is due to the economy, not desire.

    India’s startup failure is due to the economy, not desire.

    When Piyush Goyal, India’s minister of trade and industry, expressed his displeasure with the country’s startups—an odd target for a government official’s ire—he ignited a firestorm. His scathing critique was unfair as well as true.

    Startups are more used to being hailed as a shining example of the economy’s successes. While officials are glad to portray these new players as success stories, they frequently lament that older companies, particularly in manufacturing, are not spending enough.

     

    The Prime Minister Narendra Modi likes to talk about how the growth of the sector shows that India is “dynamic, confident and future-ready.” His ministers praise their contribution to employment generation and highlight how much foreign investment they attract. This is seen as demonstrating the effectiveness of Modi’s business-friendly reforms.
    But on this occasion, Goyal’s diagnosis was, frankly, accurate. And that’s why it struck a nerve.
    The minister displayed a presentation that contrasted Chinese and Indian startups. He said that although Chinese companies were “investing heavily in self-reliance, building chips and AI models for the future,” local applications were “turning unemployed youth into cheap labor so the rich can get their meals without moving.” In each of his five arguments, he compared Chinese companies that were allegedly developing deep tech and new industrial sectors with Indian enterprises that were concentrating on meeting niche demand.

     

    Goyal isn’t wrong about the consumer-facing nature of local startups. But although he might have diagnosed the disease properly, he was wrong about what might have caused it. The anger in his speech is misdirected. If India’s startups aren’t in the same sectors as China’s, the fault lies with the economy and its stewards — with, in fact, the government.

     

    New firms are created to serve the economy of which they are part. In India, there are some fields of innovation — space or semiconductor design for example — with multiple stand-out young businesses. But, overall, most startups are simply responding to the fact that growth in India is driven by consumer demand and not industrial production.

     

    That demand has a peculiar segmented structure. As a recent and much-discussed report by the VC Blume Ventures pointed out, there are three Indias. An India-1 at the top, with a population of 150 million, consisting of globally benchmarked consumers and savers. One at the bottom, an India-3 of a billion “unmonetizable users.” And an India-2 in the middle, of 300 million people whom the report described as “heavy consumers and reluctant payers.”

     

    With the income of India-1, several businesses promise investors the scale of India-3. However, the successful ones promise poor profits but respectable scale by using India-1’s money and India-3’s labor to service India-2.
    Goyal is correct when he says that these are not necessarily pioneering new ideas, even if they are successful in their execution. Investor interest is also not as high as most people believe. When a highly promoted conference in Gurugram, a center for innovation, ended up drawing hundreds of founders and hardly any investors two years ago, it became impossible to ignore.

     

    For the same reason that China’s legacy manufacturing outperforms India’s, India lacks the battery and electric vehicle entrepreneurs that China does: a business climate that is just not conducive to traditional brick-and-mortar manufacturing. The government ought to be aware by now that it is mostly to blame for this.
    Businesses are straightforward and predictable entities. They react to rewards. The government should always look inward when the private sector of a nation is not acting as it should. It either has perverse incentives in place or its expectations are unrealistic.

     

    The Indian government has just not done enough to restructure manufacturing. The private sector requires less government involvement, less credit constraints, more lenient labor regulations, and a less troublesome tax structure in order for robotics, batteries, or EVs to prosper. Anything involved in the actual economy cannot avoid this regulatory burden; the delivery and betting applications that infuriated Goyal may.
    Startups are just another type of company. They are not unique. They will swarm to industries that encourage entrepreneurship and make doing business easier. The government should be upset, but at itself, if these are not the fields it wants them to pursue.