Goldstone Technologies Limited (GTL), a Hyderabad-based company, has announced a joint venture with Quantron, a German electric mobility firm. The joint venture is focused on the fleet management market and plans to provide OEM-agnostic Mobility as a Service (MaaS) solutions. By focusing on sustainable, zero-emission transport, it aims to address efficiency and digitalisation challenges. The JV is expected to set up operations in Germany and India, with a US entity planned for later in the year. The new platform will focus on fleet management, insurance-as-a-service, hydrogen economy, greenhouse gas accounting and data insights. The strategy is estimated to reach a global market value of $71bn by 2032. Michael Perschke, CEO of Quantron AG, indicates the hydrogen fleet management and electric mobility sectors are estimated to see more than $320bn of global investment by 2030.
Caleedo Wins Facility Management Excellence Award for Startup at 2023 BW Business World Conference and Excellence Awards.
Indian start-up company Caleedo has won the Facility Management Excellence Award for Start-Up at the recent BW Business World Facility Management Conference and Excellence Awards 2023. The awards, which recognise the innovation and best practices of leaders and organisations in the field of facility management, celebrated this year’s winners at Aloft, Aerocity, New Delhi. The winners were determined by a jury panel of industry-leading experts. Caleedo operates across the NCR, Bangalore and all Indian metro cities and has recently begun expanding into the UAE and other GCC countries. The company has recently formed a partnership with IIT Roorkee to create a digital solution focusing on sustainability, health and wellness in the built environment and workplaces.
Caleedo’s founder, Parikshit Roy, has been a leader in the IoT and digital applications field of facility management for over 37 years. Roy has a broad experience across all aspects of the building lifecycle and has worked in senior business leadership roles in leading international organisations such as Honeywell, Johnson Controls, and Compass Group. He has also published various whitepapers on sustainability, technology, the future of India and global building and facilities industry outlooks. Roy expressed his gratitude for the award and stated that Caleedo is striving to bring innovation at scale and an affordable cost. Additionally, the company intends to expand into select APAC countries and Australia in the future.
India’s Economy Shows Growth Despite Global Slowdown
India’s economy grew at a rate of 6.1% in the March quarter, according to government data released on Wednesday. The data showed that India’s economy remains one of the fastest growing emerging economies, especially with China’s recovery faltering. Despite private consumption remaining sluggish, government and private capital spending boosted growth. The full-year growth estimate has been revised to 7.2% from 7%, with economists predicting that growth could remain around 6.5% in the current fiscal year. However, economists have also warned that global slowdown and volatility in financial markets could pose a risk to the country’s exports and growth outlook in the coming quarters.
The article does not mention any specific company.
V. Anantha Nageswaran is mentioned in the article as the chief economic adviser at the finance ministry who provided comments after the data release.
Delhi Discoms Seek Tariff Hike from DERC to Cover Revenue Gap: Sources
Delhi’s various distribution companies (discoms) have requested a cost-reflective tariff for the current financial year to the Delhi Electricity Regulatory Commission (DERC), citing revenue gaps. The petitions submitted by the discoms highlight revenue gaps of INR2,906 crore ($397m) in true-up petitions, and INR7,817 crore in aggregate revenue requirement petitions. Electricity prices in Delhi have not been increased since 2014, and the discoms are seeking a cost-reflective tariff to continue to provide seamless power supply to residents. The DERC has not yet responded to the requests. The discoms have petitioned the Delhi High Court to seek an interim stay against the DERC’s business plan regulations that determine tariff determination.
Technical glitch displays lessors’ rejected applications in Go First case, DGCA moves to Delhi HC.
The Directorate General of Civil Aviation (DGCA) has informed the Delhi High Court that a technical glitch in its portal caused the applications of various aircraft lessors of Go First, a cash-strapped airline, to be shown as rejected. Aircraft lessors Pembroke Aircraft Leasing 11 Ltd, SMBC Aviation Capital Ltd, Accipiter Investments Aircraft 2 Ltd, and EOS Aviation 12 (Ireland) Ltd petitioned the high court on May 26 to de-register their aircraft now leased by Go First. The low-cost airline ceased operations on May 3, is currently undergoing voluntary insolvency resolution proceedings before the National Company Law Tribunal, and stopped flight operations due to faulty engine parts.
TNC India and CMDA Collaborate to Improve Chennai’s Greenery
Chennai Metropolitan Development Authority (CMDA) has signed a partnership agreement with The Nature Conservancy (TNC) India to enhance urban green cover under the city’s Third Master Plan initiative. CMDA and TNC India will implement ‘Greenprint for Chennai’ to amplify the city’s green cover and protect its waterbodies and coastal wetlands. The ‘Greenprint for Chennai’ will support the Third Master Plan by combining rural infrastructure to reduce the impacts of climate change. CMDA’s expertise in urban development and TNC’s global and local knowledge in conservation will make Chennai a more inclusive and global city, stated CMDA Member-Secretary Anshul Mishra. The partnership marks a significant milestone in both parties’ shared commitment to develop a more resilient Chennai.
Jio Cinema Breaks Records with 120 Million Unique Viewers
Reliance-owned JioCinema has set a world record with 12 crore unique viewers streaming the rain-affected final match of Tata IPL. The over-the-top platform also created another record with 3.2 crore peak concurrency of viewers. JioCinema’s success came in part thanks to its 17 simultaneous feeds across 12 languages and multi-cam views, which allowed for an unprecedented degree of autonomy for viewers. Additionally, the streaming platform’s use of AR/VR and 360-degree viewing delivered a stadium-like experience for users. Furthermore, JioCinema’s unique features resulted in an increase in the average time per customer to over 60 minutes per match.
JioCinema is an over-the-top streaming platform owned by Reliance Industries and was launched in 2016. The platform provides digital content in multiple languages and offers exclusive movies, original shows, and TV series. JioCinema aims to offer users a blend of regional and international movies and has collaborations with various studios and content distributors.
Anil Jayaraj is the CEO of Viacom18 Sports and commented on JioCinema’s record-breaking engagement in the IPL. Jayaraj noted that it marked an inflection point in the industry where both advertisers and viewers have made their preference clear. Furthermore, Jayaraj highlighted the significance of the engagement and participation on digital noting that it is a turning point for the way viewership and AdEx are deployed going forward.
ED Seizes Assets Worth Rs 124 Crore from Chennai Group Associates in Connection with Bank Loan Scam
The Enforcement Directorate has attached assets worth about Rs 124 crore of various entities linked to the Surana Group of companies based in Chennai in connection with a money laundering investigation related to three alleged bank loan frauds. This brings the total attachment in the case to Rs 248.98 crore. The group is accused of misappropriating funds and criminal breach of trust by routing money through shell companies. The ED alleged that the accused created a web of shell companies with dummy directors, including relatives or employees of Surana group, to route transactions and siphon off funds for personal use. The Surana Group of companies is involved in the manufacturing and sale of gold jewellery.
The people arrested in this case were Dinesh Chand Surana and Vijay Raj Surana, both managing directors-cum-promoters of Surana Industries Limited, Surana Power Ltd and Surana Corporation Ltd, and P Anand and I Prabhakaran, alleged dummy directors of shell companies.
