Thursday, March 31, 2022

KZ_K Studio Encourages Slow Fashion with New Soho Space – WWD – Pen 18

With the upcoming opening of its modernist-inspired space in Soho, KZ_K Studio caters to consumers who want to develop wardrobes that minimize excessiveness and maximize utility.

Founded and run by fashion designer Karolina Zamarlak and her business and life partner Jesse Keys, the company advocates for slow fashion. Polish-born Zamarlak graduated with honors from the Fashion Institute of Technology and was the winner of the General Art Style competition. After selling a signature label to department stores and specialty stores for nearly seven years, the company relaunched in 2016 as KZ_K Studio, focusing on “direct to client” sales, personalized service and scale-back wholesale distribution. does.

For Great Jones Street Studio, a trained architect, Zamarlak and Keys have incorporated a design room, showroom, a pattern room, library bar, kitchen nook and outdoor terrace. With a launch event scheduled for April 12, the pair expect the outpost and neighborhood to be a more “interesting and exciting area” for people to visit than their former West 29th Street digs.

“Also, there is an evolution in the environment that we wanted to create within the new space,” said Zamarlak.

In addition to welcoming clients by appointment, the couple will welcome industry partners, photographers, designers, neon light designers and other creative friends to the library and bar. Zmarlak and Keyes have worked with David van Keeren and other creatives on short videos highlighting the collection.

Borrowing from the 1940s, 50s and 60s, when women visited ateliers for fitting, wardrobe building, and face-to-face attention, KZ_K Studio encourages women to develop their own personal tastes versus passing trends. buys in. “We are providing direct communication to customers where we care about each of them over time,” Keys said.

From 2016 to today, the company has built a customer base of 60 to 1,200 customers. According to the designer, the customer relationship proved beneficial during the pandemic, as well as the brand’s multi-faceted designs including fully reversible styles. Using several technical Japanese fabrics, the label is manufactured in the Garment District of New York City. “Our customers are part of our own community. They see us as more than just a brand to buy from. I think they have invested in our success,” she said.

While the company was wholesale to stores like Saks Fifth Avenue and Neiman Marcus from 2013 to 2016, it sold about 10,000 units annually and is “reaching that now” through a different revenue structure, he said. With 12 to 14 specialty store doors, KZ_K Studio’s wholesale business accounts for about 30 percent of its total sales. The remaining 70 percent includes direct-to-client services such as in-studio sales and stylist collaboration.

What is currently the most challenging aspect of the business, Zamarlak said, “there are so many. From a creative design perspective, the fashion business and building high-end ready-to-wear is incredibly labor intensive. Very few people do it.” Understand that when a single cloth is made, it may pass through 30, 40 or 50 pairs of hands from the beginning of the cloth. [selection] Process for finished apparel that we ship to a customer. We are competing with some big brands which have hundreds of employees. Our quality control and everything about our products are simply complete, on-point and stand the test of time. ,

The company hosts pop-up shops, trunk shows, special appearances and private events through its network of stylist associates. Zamarlak said returning to in-store events to help support sales in June of 2020 was “a game changer,” as shipping products was an issue for many at the time. Hartsfield-Jackson arrived at Atlanta International Airport on Wednesday afternoon, on her way to a multi-day visit to specialty store Tootsie. There, she would meet and greet shoppers and build on the existing relationship for the next few days. There are plans to participate in over 50 events across the country this year.

The KZ_K Studio collection retails from $495 for a reversible silk, attractive camisole with a $2,895 leather parka in the $800 to $2,000 key price range. Outerwear is the leading category, especially convertible and reversible styles, followed by pants, blouses and dresses, Zamarlak said. Washable leather and clippers are also offered. KZ_K Studio has also created a capsule collection of made-to-order handbags with 1 Atelier.

A look from KZ_K Studios.
Courtesy of KZ_K Studio

As an incentive to spend, consumers and clients of stylists can receive “try-on packages” at their leisure or through virtual sessions to take a closer look at potential purchases. Many people took that option during the pandemic and they continue to use it, Zamarlak said. Consumers are not obligated to purchase try-on items before they are shipped, nor are they charged for consultations. There is a fee for change, which can be handled digitally or in person. However, stylists have their own models regarding consultation fees.

Originally published at Pen 18

Indian consumers lead intent to use ‘buy now pay later’

India is the largest group of consumers who intend to use ‘Buy Now Pay Later’ services (BNPL) this calendar year, a new report has tracked purchase data across 18 countries.

Indian consumers using BNPL services were the third highest purchasers globally between October-December 2021, behind Australia and China as well as Indonesia and Mexico.

India is well above the global average on both the parameters.

3
Originally published at Pen 18

Covid vaccine after infection give higher protection against illness, show 2 Lancet studies

New Delhi: Two new studies published in The Lancet have confirmed that COVID-19 vaccination provides additional protection to people who have already been infected with SARS-CoV-2, especially from severe illness.

According to the first study conducted in Brazil, researchers found four vaccines – including Oxford-AstraZeneca (ChAdOx1), which is widely used in India, Covisheeld, CoronaVac, Janssen (Ad26.COV2.S) and Pfizer-BioNTech (BNT162b2) Used as – symptomatic re-infection and provide additional protection against serious consequences such as hospitalization and death in people who have already had SARS-CoV-2 infection.

More than 22,000 participants were included in the study.

agencies

Vaccine effectiveness against symptomatic reinfection was 39% for CoronaVac, 56% for Oxford-AstraZeneca, 44% for Janssen and Pfizer in people who had SARS-CoV-2 infection and were subsequently vaccinated. -BioNtech was 65%. The effectiveness against hospitalization and death was 81% for CoronaVac, 90% for Oxford-AstraZeneca, 58% for Janssen and 90% for Pfizer-BioNtech.

It said that out of 22,566 re-infection cases, 1,545 people were hospitalized and 290 people died within 28 days of testing positive.

Researchers say the study calms the ongoing debate about whether already infected individuals need to be vaccinated.

“All four of these vaccines have proven to provide significant additional protection, reducing hospitalization and death for people with previous COVID-19 infections. Our results suggest that the vaccine benefits far outweigh any potential risks. and supports the case for vaccination, including the complete vaccine series, among individuals with prior infection,” says study author Julio Croda, Universidad Federal de Mato Grosso do Sul and Fundacao.

Originally published at Pen 18

nagpur: MVA slams ED’s arrest of Nagpur lawyer Satish Uke

The Enforcement Directorate’s arrest of another BJP critic in Maharashtra has drawn condemnation from the leaders of the Maha Vikas Aghadi. The ED arrested lawyer Satish Uke in a money laundering case on Thursday evening after searching his and his brother Pradeep Uke’s Nagpur home, bringing them to Mumbai and interrogating them for over eight hours.

An ED insider claimed that Uke is being probed in a “land grab case”. The ED insider, who did not wish to be named, alleged, “The property being probed in Nagpur has been seized by Uke and his family members. Since Uke has refused to cooperate, he has been arrested.” Has gone.”

Satish Uke was in the news for filing a criminal writ petition against BJP leader Devendra Fadnavis for not disclosing cases against him while filing his election affidavit. Uke in his court petition prayed for the disqualification of Fadnavis as an MLA for not disclosing the criminal cases against him. Uke had also filed a petition seeking a probe into the death of Justice BH Loya, who died during the hearing of the Sohrabuddin Sheikh fake encounter case in 2014. He is also the counsel for PCC President Nana Patole in the Rs 100 crore defamation case filed against former intelligence officer Rashmi Shukla for illegal phone tapping.

Uke’s family members alleged that the searches were conducted “at the behest of Fadnavis” and were aimed at finding details of his possible cases against Fadnavis. The Congress sought the intervention of the Supreme Court or the Bombay High Court. Patole said, “The BJP is practicing autocracy and trying to destroy democracy. Therefore, through the media, I appeal to the Chief Justices of Bombay High Court and Supreme Court to suo motu against this raid. Save democracy by taking action and save democracy.”

He asked why the ED had seized phones and files related to the UK. Patole asked, “He is a lawyer. He will have files in his house. What else will he have? Why were they seized.” Shiv Sena MP Sanjay Raut reiterated that the ED is a tool in the hands of the BJP. “I would not be surprised if the ED now raids Patole in connection with the case.” NCP’s Chhagan Bhujbal asked for the intervention of Prime Minister Narendra Modi and Home Minister Amit Shah as the ED had gone ‘fearless’.

Originally published at Pen 18

Khaitan news: Khaitan & Co becomes the first Indian law firm to reach the 200-partner mark

Khaitan & Co, a more than a century old firm, on Thursday announced its partner promotion, becoming the first Indian law firm to reach the 200 partners milestone.

The addition of new partners and counsel brings the firm’s leadership strength to 200 partners and 25 lawyers and the total bench strength to 880 lawyers, giving it the distinction of becoming the first Indian law firm to reach a double century-partner count.

“A leadership team of 200 partners is a major milestone for us and a symbol of our tremendous growth journey,” said Hargrave Khaitan, Senior Partner, Khaitan & Co. “While we have an old legacy behind us, we stay young in our mindset and look to our young partners to keep us fit on this journey.”

The legal expenditure of listed Indian companies during the financial year ended March 31, 2021 was reported to be Rs 36,973.75 crore as per their annual report. It is expected to grow significantly during FY 2022 due to increase in overall business activities including M&A, IPO and other general policy and corporate advisory functions.

In July 2020, Khaitan & Co became the first Indian firm to cross the 150-partners mark.

“Most of our partners are domestic and will uphold our unique culture and value systems,” said Amar Singhji, executive director of human resources at Khaitan & Co. and steady growth for more than 110 years.”

Established in 1911 in Kolkata (then Calcutta), the firm currently has offices in New Delhi, Noida, Bengaluru, Chennai and Singapore.

According to Neha Kashyap, founder of Gray Matter, a consultant to law firms, the country is now a $3.1 trillion economy and is expected to grow over $5 trillion. Kashyap said, “We will need many more such firms in the near future which are growing to the level when the overall economy is growing so fast.” “For Khaitan, the strong partnership of 200 personnel will not only make it easier for customers but will enable a niche for each with respect to practice areas and industry sectors.”

Originally published at Pen 18

Flipkart infuses nearly $700 million in its marketplace and healthcare unit

Bangalore: Ecommerce major Flipkart has invested about $553 million in its marketplace business, according to a recent regulatory filing in Singapore. Additionally, it has invested $143 million in its healthcare arm Flipkart Health, these filings show. With the new capital coming in, this takes the total cash flow by Flipkart into the two entities—Flipkart Marketplace Private Limited and Flipkart Health Private Limited—to approximately $700 million.

The fresh cash is being deployed at a time when Walmart-owned Flipkart is scaling up several new businesses such as epharmacy, travel, social commerce platform Shopee and doubling down on its grocery business.

The Bengaluru-based company has also allotted new ESOPs (Employee Stock Owner Program) in Flipkart Pvt Ltd, the filing showed.

The investments in Flipkart Marketplace and Flipkart Health are made through Flipkart Pvt Ltd. Flipkart is domiciled in Singapore and has various entities registered in India through which it conducts its business here.

A Flipkart spokesperson declined to comment on ETTech’s query on Thursday.

Apart from the marketplace investment, Flipkart’s new money for the health arm is significant as it recently appointed Prashant Jhaveri as its CEO.

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In an interview with ET in January, Flipkart Group CEO Kalyan Krishnamurthy had said that healthcare would be one of the businesses it wants to scale this year.

Flipkart has also made strategic investments for its pharmacology and travel units.

This comes at a time when upstarts like Meesho are trying to battle bigger rivals like Flipkart and Amazon India and Singapore’s Shopee, which abruptly exited the local market earlier this week, first reported by ETTech. Gone.

Last year, Flipkart raised $3.6 billion in its first external funding since its acquisition of Walmart in 2018. The round valued the company at $37.6 billion, compared to $24.9 billion in 2020 with $1.2 billion raised in an internal round led by Walmart.

Canada Pension Plan Investment Board (CPP Investments), Singapore government’s sovereign wealth fund GIC, Japan’s SoftBank Vision Fund 2 and Flipkart’s largest shareholder Walmart led the round with participation from existing backers such as Qatar Investment Authority.

“Shopsea, grocery, travel and healthcare, these are big and we have invested in a big way,” Krishnamurthy told ET in January.

ET reported on February 18 that Flipkart had started delivering groceries in parts of Bengaluru in 45 minutes, halving its quick delivery service time from 90 minutes under Flipkart Quick. It plans to expand to 45-minute delivery in other cities, but is unlikely to enter the 15-20 minute ultrafast grocery delivery business. Krishnamurthy had said in his interview with ET that he doesn’t think 15-minute delivery is the right model for consumers on a longer-term basis.

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Originally published at Pen 18

Wednesday, March 30, 2022

RCB Won: Royal Challengers Bangalore beat Kolkata Knight Riders by 3 wickets

Royal Challengers Bangalore defeated Kolkata Knight Riders by three wickets in their Indian Premier League match here on Wednesday.

RCB chased down a target of 129 runs with four balls to spare, with Sherfane Rutherford scoring 28 runs while Shahbaz Ahmed scored 27 runs.

For KKR, Tim Southee took three wickets for 20 runs while Umesh Yadav took two wickets.

Earlier, Royal Challengers Bangalore dismissed Kolkata Knight Riders for 128 runs.

Andre Russell scored 25 runs in 18 balls for KKR.

For RCB, Wanindu Hasaranga took four wickets for 20 runs, while Akash Deep and Harshal Patel took three and two wickets respectively.

Brief Scores:

Kolkata Knight Riders: 128 all out in 18.5 overs (Andre Russell 25; Vanindu Hasaranga 4/20, Akash Deep 3/45, Harshal Patel 2/11).

Royal Challengers Bangalore: 132 for 7 in 19.2 overs (Sherfen Rutherford 28, Shahbaz Ahmed 27; Tim Southee 3/20, Umesh Yadav 2/16).

Originally published at Pen 18

KKR News: KKR to sell 10% stake in Max Health for Rs 3500 cr through block deals

US private equity firm KKR & Co on Thursday set to raise Rs 3,500 crore by selling its nearly 10 per cent stake in Max Healthcare through multiple block deals.

As per the terms of the deal seen by ET, Kayak Investments, an affiliate of KKR, will sell shares in the range of Rs 340 to Rs 361, offering a discount of up to 6 per cent from Wednesday’s close.

KKR, which acquired a stake in Max in 2018, will sell 7.76 crore shares in the base case and will have the option to extend the offer to sell another 1.93 crore shares.

Jefferies and Kotak Mahindra Capital are the bankers to the transaction.

When contacted, KKR declined to comment.

In September, KKR sold 8.44 crore shares for Rs 2,956 crore through multiple block deals and shares were picked up by institutional investors including HDFC Mutual Fund, Veritas Fund and SBI Mutual Fund, regulatory data showed.

KKR in association with Mumbai-headquartered Radiant, which forms the US PE firm’s healthcare investment platform in India, bought a 49.70 per cent stake in Max Healthcare from South Africa-based Life Healthcare Group Holdings for about Rs 2,120 crore.

The stock closed at Rs 364, up 2.39 per cent in Max.

Originally published at Pen 18

shiv sena: Shiv Sena caught in a predicament over refinery project

The Maharashtra government has suggested the Center to set up the Nanar Refinery Project at Barsu village of Rajapur in Ratnagiri district.

Chief Minister Uddhav Thackeray had earlier this year written to the PM informing that the state wanted the project to be located in Barsu village and that the state was ready to facilitate the project.

However, the Shiv Sena is now stuck in a situation of its own construction as hundreds of villagers from Barsu on Wednesday marched to the Rajapur tehsil office and asked the government not to go ahead with the project in Barsu as it would harm the environment.

The Shiv Sena, when it was in power with the BJP in 2014, stalled the project in Nanar after protests by villagers.

Responding to the protest, Minister Aaditya Thackeray said, “The project will be implemented only after taking people into confidence.”

Originally published at Pen 18

congress: Maharashtra Congress chief says there are issues amid ‘MLAs-ministers rift’

Maharashtra Congress chief Nana Patole on Wednesday did not deny the fact that angry Congress MLAs in the state wanted to meet Congress President Sonia Gandhi, saying she did nothing in meeting its president to air their grievances among party leaders. Didn’t see wrong.

A day after ET reported that Congress MLAs wanted to meet Sonia Gandhi so that all their concerns were not addressed by Congress ministers in the MVA government, Nana Patole admitted that some issues had to be resolved.

He said, “There will be some issues in the three-party government. As far as Congress MLAs meeting the Congress President, whether it is MLA or any other office-bearer, if they express their desire to meet the leader of their party, So I don’t. Patole told reporters in Pune, “Don’t think it’s wrong. There is no reason for any misunderstanding.”

Asked if the MLAs’ grievances have reached him, he said, “In a family there is sometimes happiness and sometimes there is misery. MLAs tell us what is happening, but that doesn’t mean MLAs are angry. Legislators are working on their own. constituencies and districts to strengthen the party machinery.”

Meanwhile, Patole has written to Chief Minister Uddhav Thackeray asking him to implement the Common Minimum Program (CMP) agreed during the formation of the Maha Vikas Aghadi government. He said that the government should implement projects for Muslims and Dalits.

Originally published at Pen 18

congress: Par-Tapi-Narmada river link project in Gujarat shelved just for polls: Congress

The Gujarat Congress has alleged that the Centre’s decision to stall the controversial Par-Tapi-Narmada river link project was a ‘gimmick’. Party leaders on Wednesday vowed to continue the ongoing tribal agitation in the southern part of Gujarat till the Center scrapped the project and released a white paper on the project’s “probability of damage to tribal dwellings”. Would do it

The Centre, along with the BJP’s state government, is believed to have quickly backtracked on the ambitious project given the potential for damage to the tribal movement in the assembly elections due later this year. The Congress’s attempt to keep this issue alive is also attributed to this. The tribal movement against the project intensified after the state Congress joined in, and soon senior Union ministers engaged in hectic talks with their Gujarat counterparts before announcing a halt to the project.

At a media briefing in New Delhi on Wednesday, Gujarat’s Leader of Opposition Sukhram Rathwa, Congress MP Shaktisinh Gohil and a key activist of the movement, Anand Patel, MLA, said they would consider the government’s announcement of keeping the project a ‘jumla’. We do. Inspired by the assembly elections held at the end of the year. He argued that the Center would revive the project, as fuel price hike was resumed after it was stopped during the recent assembly elections. Agitator-turned-celebrity Congress leader Hardik Patel was supposed to attend the briefing along with party colleagues but did not turn up.

Originally published at Pen 18

Browns, Asos Veteran Lola Okuyiga Has Big Plans for Her Brand, Wonder – WWD – Pen 18

wonder World: Wonder, the fashion and lifestyle brand started by former Brown, Asos and Topshop buyer Lola Okuiga, is releasing its first collaboration ahead of a retail launch later this year.

The brand has worked with the British graffiti artist and designer known as Insa to create a collection of NXT and physical jackets that will be released on Thursday at 4PM UK time.

Okuyiga, who was born in Lagos, Nigeria, and raised in the UK, founded Wonder two years ago with the aim of “celebrating products and brands”.

Going forward, she plans to “collaborate, collaborate and consult with like-minded brands and artists” and launch an e-commerce site later this year. The site will initially carry Wonder products, and eventually add brands.

Lola Okuyiga is the founder of Wonder, and Brown is a former buyer at Topshop and Asos.
courtesy image

Okuiga said it wants to focus on “underrepresented audiences and brands” with upcoming collaborations Wonder X Alia and Wonder X ft petrol.

Meanwhile, the online store will be about creating a “luxury and streetwear fashion ecosystem that celebrates Black excellence” and ensuring that underrepresented brands and businesses can “win on all levels.” She seeks to increase “representation and ownership at the highest levels among the global black community and among omnipresent women.”

Asked why he founded Wonder, Okuiga said that after 12 years working in fashion and retail, “I noticed a lack of diversity at the C-suite level, which often saw women and other minorities not being able to hold onto the stakes for equity or ownership.” Without ‘doing’… Wonder was created to authentically fix some of these issues.

“I knew that as a black woman raised in Birmingham, born in Lagos, my filter on the world resonated with a relatively large audience and it gave me the confidence to do it on my own terms, working with brands, retailers And artists understand, in a way, to make amazing product moments happen both digitally and physically,” Okuiga said.

She said that Web 3.0 “really excites me because creatives are being rewarded without having to go through gatekeepers. What’s more, women and marginalized communities can take full ownership of their work and wage and income distribution.” can challenge the inequalities within. I hope Wonder can be an example of what is possible in this region.”

Wonder launched in the Metaverse earlier this month during Metaverse Fashion Week with the Decentraland pop-up. It previewed a selection of drops from the coming season and offered NFTs that act as pre-orders against future physical product drops.

The collaboration with Insa costs £666 for the physical jacket and associated NFTs; And £333 for Digital Jacket/NFT.

In the future, the brand will focus on virtual and physical products, with Okuiga leveraging its background in product design and development. She created one of Topshop’s all-time bestsellers, the super-skinny Joni Jeans style that generated millions in revenue for the retailer, which was sold to Asos last year.

Originally published at Pen 18

Tuesday, March 29, 2022

Feeling sidelined by ministers, 25 Maharashtra Congress MLAs want to meet Sonia Gandhi

MUMBAI: At least 25 Congress MLAs from Maharashtra have sought an appointment with party president Sonia Gandhi to complain against Congress ministers in the Maha Vikas Aghadi government who “did not respond to their concerns”. The legislators, in a letter, urged Gandhi to intervene to “fix things”.

Some MLAs told ET that ministers in the MVA, especially Congress ministers, were “not coordinating” with them, asking one of them, “if ministers ignore requests to implement the work in MLAs’ constituencies.” So how will the party do well in the elections,” one of them asked.

Indicating the lack of coordination in the party, the MLAs said they came to know only last week that each Congress minister was assigned three party MLAs to address their issues appropriately. “We came to know when HK Patil held a meeting recently that Congress ministers were allotted three MLAs each. This was apparently done a few months after the MVA government was formed, but we only got to know about it. Found out only 2.5 years ago. Elections. Even now, no one knows which minister is associated with us,” said another Congress MLA.

Other Congress MLAs said the party lagged behind the Nationalist Congress Party as Deputy Chief Minister Ajit Pawar regularly meets NCP MLAs, allocates funds and listens to their grievances. Another Congress MLA said, “NCP is attacking us. More funds are allocated to NCP ministries and if things remain the same, Congress in Maharashtra will be marginalized like other states.” The MLAs said that immediate action should be taken after the party’s defeat in Punjab. He said that if the party remains ‘useless’ in Maharashtra, there may be ‘similar results’.

Originally published at Pen 18

Opposed Ashish Mishra’s bail, gave security to witnesses: UP govt

New Delhi: The Uttar Pradesh government has claimed in the Supreme Court that it has opposed the bail application of Ashish Mishra in the Lakhimpur Kheri case and has provided security to all the witnesses in the case. Ashish Mishra is the son of Union Minister of State for Home Ajay Mishra.

The state government seems to have induced Divjot Singh, one of the grievously thrashed witnesses to come to the top court seeking protection recently, thrashed over the Holi controversy in the presence of his security details.

The state also claimed that it was in the process of deciding to appeal against the bail of Ashish Mishra and the limitation period for doing so was not yet over. The affidavit was filed ahead of hearing of an application seeking cancellation of bail granted to Ashish Mishra.

The state government objected to the claims made by the families of the victims of the case that the state had not effectively opposed the bail of Ashish Mishra. The state said that the AAG had told the court that “by the vehicle of the applicant and his followers, the protesters were crushed and five persons – Nakshatra Singh, Daljit Singh, Lovepreet Singh, Gurvinder Singh and Raman Kashyap – died and 13 Others killed. Injured”. The applicant fled after firing, the affidavit quoted AAG as saying.

The state also claimed that the witness who was recently thrashed was done for a different reason and was corroborated by his gunner. The state claimed that his gunner’s views were supported by other eyewitnesses.

The state argued that all the witnesses had said that it had nothing to do with the ruling party’s victory in the elections and termed the attempt to link the beating to the Lakhimpur Kheri incident as unwarranted.

The state said each witness in the case was assigned an armed gunner with a permanent security guard and was constantly being watched through CCTV cameras and police, who were on duty at barricades around their homes.

The state’s affidavit, filed by the home department, said security has been provided to around 98 witnesses. The families of the victims have accused the state government of not effectively opposing their bail. He has also accused the state of not filing an appeal. He also claimed that his lawyer, who was appearing through video conferencing, was cut off during the hearing and applications to hear him again were rejected by the High Court.

Originally published at Pen 18

Elon Musk claims SEC ‘misconduct’ as Tesla CEO seeks end to limits on tweets

Elon Musk accuses the US Securities and Exchange Commission of “misconduct” as Tesla Inc’s chief executive tries to pull out of a 2018 deal with the regulator, limiting his Twitter posts about the electric carmaker .

Musk wants to block an SEC subpoena seeking information about Tesla’s public-disclosure controls and in 2018 agreed to undo a set of court orders that led to an in-house official relating to his company. Tweets were reviewed. Known as the “twitter sitter” of the CEO.

Musk’s attorneys said in a New York court filing Tuesday, “The SEC argues that it has the absolute right to do whatever it wants, whenever it wants, as long as it receives a formal order.” ” “But there are limits to the investigative power of the SEC, especially once, as here, it is specifically taking advantage of a binding order recorded and supervised by this Court.”

According to the court filing, Musk accused the SEC of “misconduct” in its investigations of him and Tesla.

The SEC declined to comment.

Musk, who earlier this month asked a judge to end monitoring of his tweets, claims the SEC is harassing him with demands for an overly comprehensive investigation and that the 2018 deal violates his right to free speech. Is. He rejected the agency’s arguments that he independently agreed to the limits and that a review of his tweets by the company’s securities attorney did not amount to government regulation of his speech.

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“It is irrelevant to whom the SEC has assigned this duty; Mr. Musk’s speech is restricted as a result of the SEC’s prosecution,” he said in a federal court filing.

The SEC has said it has a “legitimate purpose” in investigating whether Tesla has institutional control over corporate disclosures and whether Musk is complying with them.

The case is in US Securities and Exchange Commission v. Musk, 18-CV-08865, US District Court, Southern District of New York (Manhattan).

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Originally published at Pen 18

India US News: India, US to hold 2+2 dialogue on April 11

India and the United States are scheduled to hold 2+2 talks in Washington on April 11.

External Affairs Minister S Jaishankar and Defense Minister Rajnath Singh will meet their counterparts External Affairs Minister Antony Blinken and US Defense Secretary Lloyd Austin. There will also be other meetings between Jaishankar and Rajnath Singh.

The last 2+2 ministerial talks between the two countries were held in New Delhi in October 2020.

India and the United States held a bilateral 2+2 inter-sessional meeting in Washington in September last year and exchanged assessments on developments in South Asia, the Indo-Pacific region and the western Indian Ocean.

The two sides took stock of progress and developments in the bilateral agenda under the India-US Strategic Partnership, including defence, global public health, economic and commercial cooperation, science and technology, clean energy and climate finance, and people-to-people ties. ,

Originally published at Pen 18

Top Gun Maverick Trailer is Out, And Tom Cruise is All Set to Rule The Skies – Pen 18

new Delhi: Thirty-six years into the wait and well, the wait is worth it regardless of age.Also Read – Weird! Rooster charges Rs.30 ticket fare for traveling in Telangana state bus. Watch

A sequel to the 1986 release Top Gun is very much ahead, or should we say flying, what with the action taking place in the skies. Also Read – Emirates Ad of Woman Standing on Top of Burj Khalifa Is So ‘Real’; Airline reveals how it was shot watch viral video

The ‘Top Gun: Maverick’ trailer is out and LT Pete “Maverick” Mitchell, played by Tom Cruise, is back in business as usual. The trailer presents incredible air-combat sequences that might have never been seen on screen before and with Cruise in charge, you better believe it. Also Read – WATCH: David Beckham-Tom Cruise Fist Bump After Luke Shaw’s Goal Vs Italy In Euro 2020 Final At Wembley, Video Viral

watch the trailer

Miles Teller plays Goose’s son, Rooster as the trailer follows newly released photos. Goose, played by Anthony Edwards in Top Gun, is Maverick’s radar intercept officer, and best friend, but is tragically killed when he hits the jettison aircraft canopy head-first.

The film’s release got delayed due to the COVID-19 pandemic and is now set to hit the theaters on May 27. Cruise’s Top Gun: Maverick co-star Manny Jacinto has said that, despite all the delays, the film will be worth the audience’s wait.

The trailer of ‘Top Gun: Maverick’ shows new fighter jets keeping new technology in mind.

Directed by Joseph Kosinski, Top Gun: Maverick promises the adventure of a lifetime as Maverick is tasked with training a new batch of aviators for a dangerous mission.

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Originally published at Pen 18

Monday, March 28, 2022

Ariana DeBose Oscars Win, Valentino Pantsuit According to Stylist – WWD – Pen 18

Ariana Debos concluded her historic awards season Sunday night at the 2022 Oscars, where she received her first Academy Award for her role as Anita in “West Side Story,” making her an openly LGBTQ person and Afro- The Latina woman became the first woman to win. Best Supporting Actress Award.

Debos celebrated her historic win in another extravagant fashion moment thanks to her stylists Zadrian Smith and Sarah Edmiston, who dressed the star in a custom red Valentino pantsuit with a matching cape that wowed onlookers on the red carpet.

“Red was telling subconsciously,” Smith explained. “we did yellow” [at the Critics’ Choice and BAFTAs], which was a tribute to Anita, and then Lal is back and we paid tribute to Anita with a Laal moment. We wanted to mix masculine and feminine elements, so the cape and bralette gave it feminine mysticism, and the trousers were as strong and daring as a suit moment. ,

Smith explained that the look was authentic to DeBoss’ style, which helped it resonate with audiences.

“What you saw on the red carpet was something that was Ariana DeBos,” he said. “That’s why it was so special because it’s her, it really was her.”

Ariana DeBos at the 2022 Oscars
Gilbert Flores for Variety

Valentino has been a go-to brand for DeBoss, right before his “West Side Story” press tour late last year. Smith explained that Valentino and creative director Pierpaolo Piccioli were one of the first major houses to work with the actress when others were not accepting the newcomer.

,[Valentino] The train was on the bandwagon before exiting the park and driving, you know what I mean? he said. “They never made Ariana feel like she was a token, and trust me there were some brands where it was really worth how they said no to us in the beginning and then all of a sudden you want to open the doors and tell us Want to give everything. It’s just not real.”

DeBose kicked off awards season at the 2022 SAG Awards by wearing a fuchsia dress with draped back detailing from Valentino’s Spring 2022 Couture collection. For Critics’ Choice and BAFTAs, she paid tribute to her Latin roots by wearing gowns by Oscar de la Renta and Carolina Herrera. Both were also dressed in yellow as a tribute to Debos’ character Anita, who wears a yellow outfit in the film.

After the Oscars, DeBose changed into a custom Mônot black mini dress with bow detailing on the back, which Smith explained was a way to close this chapter of DeBose’s style.

“We wanted to close with black and it was a little scary and a little brave, but we kept the bow on the back,” he said. “So, if she was to win an Oscar it would be a nice way of saying that we completely wrapped it up and put it in a bow. By the grace of God, she won, so the narrative made sense.”

Smith and Adamiston also styled “Aladdin” star Naomi Scott on Sunday night, dressing her in a Fendi Spring 2022 Couture gown for the Oscars and a black cut-out Armani dress at the Vanity Fair after-party.

The stylist reflected on what it meant for her to be a part of DeBose’s historic moment and the greater significance of her Oscar win.

,[Edmiston and I] Told each other that hopefully we will have another opportunity to be an Oscar nominee and possibly an Oscar winner,” he said. “But, if I’ve never styled another person in my life, if I never do another red carpet, I can happily say I’ll be fine with it because last night just ended so many things.” My career as a stylist hasn’t been easy as a black man, as a gay man. It’s not an industry that I’ve really always embraced. Ariana being given that opportunity – Which is a woman of color and a quirky woman – who also has the same experiences that I have, but in Hollywood, it’s so incredibly powerful that it took someone who was cut from the same clothes that I’ve got to see me and Sarah, and then say, ‘Let’s get up together.'”

Ariana Debos

Ariana Debos
Michael Buckner / WWD

Read more here:

Zadrian Smith Talks 10 Celebrities Styling for the BAFTAs and Critics’ Choice Awards

Zadrian Smith and Sarah Edmiston Talk Ariana DeBos’ ‘Classic Americana’ Style

How 10 Oscars Red Carpet Dresses Looked on the Fashion Week Runway?

Originally published at Pen 18

Now, government plans to launch super app for farmers

An official of the Ministry of Agriculture and Farmers Welfare said that the government is planning to launch a super app for farmers, consisting of several digital entities and existing mobile applications for them.

The integration will help farmers access information like latest research and development, weather and market updates, services available, government schemes and advisories for various agro-climatic zones under one umbrella.

The ministry is looking at merging apps like Kisan Suvidha, Pusa Krishi, M Kisan, Shetkari Monthly Android App, Farm-O-pedia, Crop Insurance Android App, AgriMarket, IFFCO Kisan and ICAR’s Krishi Gyan.

“The compilation of various apps under one super app at one place will help farmers choose a bouquet of services as per their requirements,” the official said on condition of anonymity. “The focus will be on aggregating these apps to further ease the process of finding a relevant app.”

Agriculture Minister Narendra Singh Tomar recently met senior officials of the ministry to review the progress on the development of the Super App. The official said that it can be launched in the next few weeks.

The Super App will also be used to educate farmers on post-harvest issues including crop production and technologies, and marketing. This will help in connecting the farmers directly with the scientific community, the official said.

Existing apps that will be integrated with Super Apps have been developed by several government bodies such as ICAR institutes, state agricultural universities, Krishi Vigyan Kendras and other departments.

Originally published at Pen 18

Pramod Sawant sworn in as Goa CM, 8 others take oath as ministers

Mumbai: Pramod Sawant was on Monday sworn in as the Chief Minister of Goa for the second time in a row along with eight other ministers. Governor PS Sreedharan Pillai administered the oath of office at a ceremony held at Dr. Syamaprasad Mukherjee Stadium in Talegaon, which was attended by Prime Minister Narendra Modi, Union ministers Rajnath Singh and Nitin Gadkari as well as several chief ministers of BJP-ruled states. In March 2019, Sawant took oath as the chief minister following the untimely demise of his predecessor Manohar Parrikar.

The eight MLAs who took oath include Vishwajit Rane, Mauvin Godinho, Ravi Naik, Nilesh Cabral, Subhash Shirodkar, Rohan Khaunte, Govind Gowde and Atanasio Monserrate. Their portfolios are yet to be announced.

The BJP has kept in mind the equations of caste and community in the selection of its ministers. While Sawant and Rane belong to the Maratha community, Godinho, Cabral and Monserrate are Christians. The Khunte Gaurs are Saraswat Brahmins while the Gaurs are from the Scheduled Tribes. Ravi Naik belongs to the Bhandari community, which has a major share in several constituencies in Goa.

Though the number of ministers that can be included in the government apart from the chief minister is 11, the Sawant government has decided to induct three more ministers later. State BJP chief Sadanand Tanawade told reporters after the swearing-in that the rest of the ministers would be inducted “within a month or two”.

The BJP is one short of the majority mark of 21 in the 40-seat assembly and has the support of three independent MLAs and two from the Maharashtrawadi Gomantak Party (MGP). There were many speculations about which of these MLAs would get a place in the cabinet.

BJP leaders said they are planning to induct MGP’s Sudhin Dhavalikar into the cabinet. The BJP leader said, “There is some opposition to his inclusion. However, if he merges MGP with our party, it should not be an issue. That’s why our party chief has said that it will take a month or two.” Will take.”

The BJP is also in talks with Goa Forward Party leader Vijay Sardesai, who is the party’s lone MLA. Sardesai was in alliance with the Congress before the assembly elections. However, now there is a possibility that he may support the government. If this happens, he can be made a minister.

After taking oath, Sawant said mining, employment generation and tourism would be his priority.

Originally published at Pen 18

sumant sinha: Need simpler GST regime, stable policy setting: Sumant Sinha, Assocham President

Assocham’s newly-elected President Sumant Sinha said that India needs a strong contract-enforcement agency, a simplified GST regime and simplified taxation process with a stable policy environment to facilitate ease of doing business.

India’s economy is poised for sustained high growth in the coming years, he said, flagging another Covid-19 wave and Russia-Ukraine as potential risks.

Sinha, chairman and managing director of Renew Power, took over as the chairman of the industry body on Monday. Also, SpiceJet Chairman and Managing Director Ajay Singh took over as the new Senior Vice President of ASSOCHAM.

“After Covid has hit economic activities for one and a half year, there has been a very good bounce and next year GDP growth is expected to be around 7.5-8%. Number of reform measures, strong exports and controlled inflation will ensure that The momentum will continue over the next year and beyond,” Sinha told ET in an interview.

Sinha, however, cautioned about the impact of the external environment on India’s growth story. “Having said that, of course, in all these situations, there are always some risks to development. One of them, of course, is the external environment, where there is some degree of uncertainty because there is a conflict going on, ” he told.

“The second thing, of course, is the Covid itself. Hopefully we have seen the last of the covid, but it is something we have to wait and see,” he said.

Originally published at Pen 18

Gulmaki elected as Odisha’s first Muslim woman chairperson in urban polls

Meet Gulmaki Dalwazi Habib, 31, a business administration graduate who was chosen as the first Muslim woman to become the chairman of Bhadrak Municipality.

Of the 108 civic body election results declared on Saturday, only Gulmaki was elected as the president from the Muslim community. Independent candidate Gulmaki was elected president by defeating Sasmita Mishra of BJD by 3,256 votes. Gulmaki, who is new to politics despite her husband being a BJD leader, filed her nomination papers for the post after being encouraged by the locals.

Gulmaki said, “Initially, I was scared… but as the day progressed, people from all communities came forward to support me as they have faith in an educated woman like me.” He said that the town of Bhadak, situated on the Odisha coast, is inhabited by people from all communities. While 59.72 percent of the population is Hindu, Muslims constitute 39.56%, followed by Christians (0.12%), while the rest are Sikhs, Buddhists and Jains (0.02%).

“People voted for me because they want development of their areas that I can do,” she said, adding that her family members and local people campaigned for her. Asked how she will run the 30-member municipality, where the BJD has won a majority by winning 17 councillors, she said: “I think I can do politics too. My uncle, aunt and other family members are active in politics. My maternal uncle was a councilor and my aunt was elected vice-president many years ago.

However, Gulmaki admitted that she was initially reluctant to contest directly. “But the people here know my family very well and everyone insisted that I take it. From filing nomination till the day of counting of votes, their trust and cooperation ensured my victory,” she said.

This time during the elections and keeping in view the past experiences of communal tension, the State Election Commission, Odisha has appointed at least 15 platoons (30 personnel in 1 platoon) and a Deputy Inspector General of the Armed Forces to maintain law and order. rank officer was posted. ,

Gulmaki said: “I am born in a Muslim family, but as a president, I will act in an impartial manner. Development is my agenda. He said: “I have never had a bad feeling towards me. My Hindu brothers who worked for me during elections will never regret choosing me. I will work for everyone.”

According to political analysts, so far no Muslim woman has been elected as the chairperson of any civic body in Odisha. However, one Mohammad Akbar was the president of another Muslim-majority municipality in Kendrapara from 1983 to 1990. Though no Muslim woman MLA has been elected so far, Congress’s Mohammed Mokim is now the only Muslim face in the assembly after winning Cuttack from Barabati. Assembly constituencies in Cuttack City.

Earlier, Matlub Ali and Habibullah Khan had been ministers in the state during the Congress rule. The ruling BJD has also sent Munna Khan from the state to the Rajya Sabha. The Muslim community is less than 3% of the population of Odisha.

Originally published at Pen 18

Indiabulls Housing to raise Rs 50,000 crore growth capital next fisc, eyes 20% loan sales

Second largest mortgage lender Indiabulls Housing Finance is planning to raise Rs 50,000 crore for its projected 15-20 per cent credit growth in the next fiscal, which will take its balance sheet closer to the pre-pandemic peak when it closes Rs. had crossed. lakh crore figure, a senior company official said on Monday.

The lender’s outstanding loan book stood at Rs 74,800 crore as of February-end, which is flat at last year’s level and if it rises to the upper end of the target, it may close the next fiscal with a loan book of around Rs 90,000 crore. Is. AUM.

The board has passed an enabling provision allowing the company to raise up to Rs 50,000 crore for our debt growth in the next financial year – up from Rs 26,000 crore we raised last year.

Deputy Managing Director Ashwini Hooda said, “We have taken board’s nod for higher capital raising as we expect overall credit growth to exceed 15-20 per cent in the next financial year, and credit demand is likely to pick up.” ” Indiabulls Housing told PTI on Monday.

This will be the first fundraising by the company after founder Samir Gehlot, in mid-December 2021, would step down from the board (as a non-executive director) with effect from March 31, 2022 and completely exit his stake in the company. few years.

He now holds a 9.71 percent stake, having sold 11.9 percent to Blackstone Group and Abu Dhabi Investment Authority last December.

After this, Gehlot, who founded the company on March 14, resigned from the board.

In his resignation letter, Gehlot said, “I am leaving the company to make it a fully professionally managed and run company. I recently sold my 11.9 per cent stake and now own 9.71 per cent which I would like to share in its public domain.” as a shareholder. To participate in its future growth story.”

Hooda said the company had raised only Rs 26,000 crore in the outgoing financial year as credit growth reached Rs 74,800 crore with a negative bias.

Of this, commercial real estate book/builder loan was Rs 13,600 crore, which is less than Rs 20,900 crore. He said that this declining number is part of our plan to exit this business completely.

It may be noted that one of the biggest reasons for Lakshmivilas Bank’s unsuccessful acquisition of the company in 2019 was the group’s high exposure to the troubled realty sector. The group was planning to transform itself into a bank with an acquisition attempt.

Generally, the company raises 60 per cent from bank loans, 30 per cent through securitization and the remaining 10 per cent by issuance of NCDs or foreign debt/ECBs, Hooda said.

Accordingly, out of Rs 26,000 crore raised so far this fiscal, Rs 1,300 crore came from bonds, about Rs 2,000 crore from foreign bonds and about Rs 8,000 crore from securitization and the remaining Rs 14,000-15,000 crore from banks.

Its cost of funds averaged 7.5 per cent in FY12, but he expects it to rise in the next fiscal, considering inflationary pressures.

Hooda said that despite the sluggish growth, asset quality has remained stable so far this fiscal, with gross NPAs accounting for only 3.25 per cent or Rs 2,000 crore. But the company has a provision coverage ratio of 150% or a provision of Rs 3,000 crore has been made for this. So there is no worry of fourth wave or any other event, he said.

Originally published at Pen 18

IPL Sunrisers Hyderabad Preview: SRH bet on youth as they look to rebuild after last year’s disappointment

Sunrisers Hyderabad (SRH)


Captain: Kane Williamson


Coaching Staff: Tom Moody (Head Coach), Dale Steyn (Bowling Coach), Brian Lara (Batting Coach), Muttiah Muralitharan (Spin Bowling Coach), Hemang Badani (Fielding Coach)

Owner: Sun TV Network

best performance: Winner 2016

2021 Performance: finished eighth

shaft
Kane Williamson (captain), Abdul Samad, Umran Malik, Washington Sundar, Nicholas Pooran, T Natarajan, Bhuvneshwar Kumar, Priyam Garg, Rahul Tripathi, Abhishek Sharma, Kartik Tyagi, Shreyas Gopal, Jagdish Suchith, Aiden Markram, Marco Janssen, Romario Shepherd Shaun Abbott, R Samarth, Shashank Singh, Saurabh Dubey, Vishnu Vinod, Glenn Phillips, Fazlhaq Farooqui

availability of players
Availability of players is not a concern but injury to players. Captain Kane Williamson has been battling an elbow problem for a long time. Bhuvneshwar Kumar has been battling one injury or the other for the past few years. Washington Sundar is making a comeback from a hamstring injury during the ODI series against West Indies in February. Their yorker specialist T Natarajan is making a comeback after a long absence due to a knee problem.

batting
Most things went wrong for him last year, both on and off the field. While the team lost 11 out of 14 matches, David Warner lost his captaincy and place in the team. Coach Trevor Bayliss dropped out and there were several changes to the coaching staff. This year has already seen controversy, with assistant coach Simon Katich resigning right after the auction.

In the mega auction, they bet their money on the youth, especially Indians, and will try to set a new model that can help them survive last year’s disappointment. He retained Abdul Samad and brought back Priyam Garg and Abhishek Sharma. He also picked Washington Sundar in the auction.

Rahul Tripathi was a good pick for him. He is underrated but is an experienced IPL hand. Most likely he will open the innings for them and in the absence of an experienced regular opener, they can use Abhishek Sharma at the top. Abhishek offers a left-handed option and bats aggressively.

The middle order will be shared by Williamson, Nicholas Pooran and Aiden Markram. But they have to rely on young Samad and Sundar in the death overs, which doesn’t inspire confidence. So one of the middle order trio should try to bat till the end.

However they have options. If they go with an all-India bowling attack, which they can do, then Glenn Phillips can be used to capitalize on the final quarter of the innings with hard work. And he can keep wickets and bowl off-spin.

bowling
On the bowling side, SRH is going at a brisk pace. They have Bhuvneshwar Kumar, the new ball specialist. He can bowl at any stage of the game but very rarely matches his new ball skills. He has the speed of Umran Malik to dodge the opposition. And then yorker king T Natarajan to take care of the death overs. The tall and talented Marco Jensen is his left-handed substitute. Sean Abbott is a backup option. Romario Shepherd gives him the option of pace all-rounder.

But the exit of the world’s best T20 bowler Rashid Khan has left a void in his spin department. He has signed Karnataka leg-spinner Shreyas Gopal, but he is nowhere near the quality of Rashid. Sundar (off spin) and Abhishek (left arm spin) will share the responsibility of spin.

Probable playing XI
1. Rahul Tripathi, 2. Abhishek Sharma, 3. Kane Williamson, 4. Nicholas Pooran (wk), 5. Aiden Markram/Glenn Phillips, 6. Abdul Samad, 7. Washington Sundar, 8. Marco Janssen, 9. Bhuvneshwar Kumar , 10. T Natarajan, 11. Umran Malik

Originally published at Pen 18

ED attaches assets of Educomp group company in money laundering case

new Delhi: The Enforcement Directorate (ED) on Monday said assets worth Rs 90.31 crore of a Gurugram-based Educomp Group company have been attached in an alleged bank loan fraud case under the Anti-Money Laundering Act.

A provisional order for attachment of properties under the Prevention of Money Laundering Act (PMLA) has been issued against Educomp Professional Education Limited, a group company of Educomp Group.

“Edu Smart Services Pvt Ltd diverted bank loan amount to Rs 90.31 crore and created assets in the name of sister concern of Educomp Professional Education Ltd in Ranga Reddy district of Telangana through a web of transactions,” the ED said.

This Rs 90.31 crore, in the form of parcel of land and rent, is proceeds of the offense and was accordingly attached as per the provisions of PMLA.

The total “default” in loan repayment wrongly inflicted on the lending banks is Rs 1,955.36 crore in this case.

The ED’s money laundering case against the group stems from an FIR registered by the Central Bureau of Investigation (CBI) against the accused company and its promoters.

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The group promoted by IIM Ahmedabad pass out Shantanu Prakash, is going through the corporate insolvency resolution process.

The CBI had booked Educomp Solutions, its subsidiaries and directors in February 2020 for defrauding a consortium of 13 banks led by SBI to the tune of Rs 1,955 crore.

The agency has booked Educomp Solutions Limited, its managing director Shantanu Prakash, guarantor Jagdish Prakash, its subsidiary Edu Smart Services Pvt Ltd and directors Vijay Kumar Choudhary and Vinod Kumar Dandona for criminal conspiracy, cheating, forgery and under provisions of the Prevention of Corruption Act. Was. ,

After registering the FIR, the agency searched the premises of Educomp Solutions, Edu Smart and its directors at eight locations in Delhi, Dehradun and Gurugram.

CBI officials had said that the banks have alleged that Educomp Solutions (ESL), incorporated in 1994, was in the business of creating digital educational content for schools and vocational courses under the brand names “SmartClass” and “Edureach” respectively.

It used to enter into tripartite agreements with its subsidiary, Edu Smart Services Pvt Ltd (ESPL) and schools for providing the content.

Officials had said that ESL used to sell hardware and digital content under its “SmartClass” business to ESPL, which sold it to schools on a quarterly basis with the receipt of sales spread over a contract period of five years.

It is alleged that ESPL had sought term loans from the members of the association by keeping the stipulated future cash flows as security from the schools, which was granted.

The CBI alleged that the debt raised by ESPL was required to be given to its creditors, which is ESL.

Later, ESL discontinued its business of selling “smartclasses” through ESPL and decided to sell directly to schools, officials had said.

He had said that the banks restructured the debt of ESPL, closed its term loan accounts and transferred the liabilities to ESL.

He had said that fresh term loans were disbursed by banks to ESL, along with the future receivables of ESPL were also transferred to it.

Due to non-fulfilment of loan terms and conditions, ESL loan accounts became Non-Performing Asset (NPA) in 2016.

It is also alleged that ESL and ESPL through their directors entered into tripartite agreements with schools and induced banks to disburse term loans by including non-executed, canceled or pre-closed contracts in the list of executed contracts. did. said. PTI NES Div Div

Originally published at Pen 18

Sunday, March 27, 2022

csr: Parliament panel seeks constituency-wise CSR spending by top 10 companies

The Parliamentary Standing Committee on Finance has asked the Ministry of Corporate Affairs (MCA) to analyze the Corporate Social Responsibility expenditure of top 10 private companies by region as well as parliamentary constituency and submit a report within three months.

The Committee expressed its concern about the monitoring mechanism of CSR expenditure and found that “information on CSR expenditure by companies is insufficient and difficult for a common man”.

It said an analysis of the CSR expenditure of top 10 private companies, sector by sector, such as mining sector, real estate sector, construction sector etc as well as constituency wise, be done and submitted to the committee within a period of three months. .

The report tabled in Parliament recently has also demanded a third party audit of CSR funds.

However, the MCA submitted to the panel that such audit was not required as the existing legal provisions provided adequate safeguards in this regard.

The ministry also said that from April 1, with the introduction of CSR 2 form, companies will be required to submit more details about CSR expenditure.

The Corporate Affairs Ministry said, “We have now introduced a new Form CSR 2 in which they have to submit CSR details including a list of projects and where they are doing it, what kind of money is being spent. Is.” its reaction.

The Committee observed that the local expenditure, particularly by mining companies and heavy industries, was neglected and recommended that the local area preference should be made mandatory as per the provisions of the Act, which is currently advisory in nature.

Around 60% posts of SFIO are vacant

The committee has also asked the ministry to fill up the vacancies in Serious Fraud Investigation Office or SFIO within the next financial year so as to increase the case settlement rate of the organizations and bring them closer to their objective of dealing effectively with complex corporate frauds. Can you

SFIO, it observed that, despite an increase in the number of fraud cases referred to the investigative body, with nearly 60% of its sanctioned posts being vacant, SFIO was grappling with a severe staff shortage, leading to the ongoing investigation. The pace slowed down.

According to the latest report of the committee, headed by former Minister of State for Finance Jayant Sinha, 146 out of 238 posts were vacant, affecting the settlement rate as “60% vacancy remains volatile”.

Originally published at Pen 18

punjab: Punjab Kings beat RCB by 5 wickets

Punjab Kings beat Royal Challengers Bangalore by five wickets in their Indian Premier League match here on Sunday. Punjab team chased down a mammoth target of 206 runs in a thrilling high scoring match with six balls to spare.

Shikhar Dhawan and Bhanuka Rajapakse scored 43-43 runs down the order, while M Shah Rukh Khan and Odion Smith remained unbeaten on 24 and 25 respectively as Punjab reached 208 for 5 in 19 overs. For RCB, Mohammad Siraj was the most successful bowler with figures of 2/59. Earlier, RCB scored 205 for two when asked to bat.

Captain Faf du Plessis hit 88 off 57 balls while Virat Kohli scored an unbeaten 41 as the duo shared a 118-run stand for the second wicket. Dinesh Karthik played an unbeaten innings of 32 runs in 14 balls. Rahul Chahar and Arshdeep Singh took one wicket each for Punjab Kings.

Brief Scores: Royal Challengers Bangalore: 205 for 2 in 20 overs (Faf du Plessis 88, Virat Kohli 41 not out, Dinesh Karthik 32 not out; Rahul Chahar 1/22, Arshdeep Singh 1/31). Punjab Kings: 208 for 5 in 19 overs (Shikhar Dhawan 43, Bhanuka Rajapakse 43; Mohammad Siraj 2/59).

Originally published at Pen 18

jyotiraditya scindia: Gwalior to start hosting international cricket matches from next year: Jyotiraditya Scindia

Union Civil Aviation Minister Jyotiraditya Scindia on Sunday said that Gwalior in Madhya Pradesh will be ready to host international cricket matches within a year. Scindia was elected the President of the Gwalior-Chambal Division Cricket Association on Sunday.

Addressing the annual general meeting of the association, he said that the ongoing construction of a modern cricket stadium in Gwalior would be completed in the next 10 to 11 months.

He said that the cricket lovers of Gwalior can watch international cricket matches next year.

The minister said sports activities have come to a standstill in the last two years due to the pandemic.

He said that the sporting activities are going through a tough phase due to the global pandemic and now the cricketers are eager to give their best, adding that the cricket association will provide all possible help to the players.

Originally published at Pen 18

horizon industrial parks: Horizon Industrial Parks plans to invest ₹2k cr across South India

Horizon Industrial Park, which has a portfolio of logistics parks in India owned and managed by Blackstone Real Estate Fund, is looking to expand its presence in key southern markets besides exploiting smaller towns.

The company plans to invest over Rs 2,000 crore in the next few years to build 9 million square feet of logistics facilities across South India.

Chief Executive Rahul Pandit said, “The southern region is an important market, with over 40% of our existing portfolio concentrated in Karnataka, Tamil Nadu and Telangana. Going forward, Tier-II (city) will become a major demand hub.”

Horizon Industrial Park will focus on sectors such as manufacturing, third-party logistics and ecommerce to expand its footprint.

“The policy framework is very encouraging and the government has a forward-looking industrial outlook. We are committed to investing in the country for the long term,” Pandit said. Global investment firm Blackstone has consolidated its 16 logistics and warehousing assets across India. , under Horizon Industrial Park has an enterprise value of $900 million.

Horizon Industrial Park’s portfolio currently comprises 16 Grade-A logistics and warehousing assets spread over 24 million sq ft of total development potential in Bengaluru, NCR, Hyderabad and Pune. The portfolio has been assembled through a number of investments, including Embassy Industrial Park, TARC and Allcargo.

In India, Blackstone also owns the Nucleus Office Park and Nexus Mall, which are platforms for the firm’s office and retail portfolio, respectively.

Blackstone is the largest owner of commercial real estate globally, owning and operating property in every major geography and region, including logistics, residential, office, hospitality and retail.

Blackstone has about $20 billion worth of commercial real estate under management in India.

Originally published at Pen 18

rajasthan: Eye on polls, AAP dissolves all units in Rajasthan

The Aam Aadmi Party (AAP) on Sunday dissolved all its units in Rajasthan to restructure the party organization in preparation for the state assembly elections.

Since the formation of the government in Punjab, the party has started expanding its base in Congress-ruled Rajasthan.

In Rajasthan, AAP’s new election in-charge Vinay Mishra announced the dissolution of all units, including the state executive, at a meeting of party workers at Birla Auditorium here.

Mishra, the MLA in Delhi, said, “From today the state executive, all the district units of AAP Rajasthan have been dissolved.”

He also said that a membership drive would be started in the state.

Mishra said, we will connect people from village to village, house to house and make a strong organization in the state.

Assembly elections in Rajasthan are to be held by the end of 2023.

Mishra targeted the ruling Congress government over the issues of unemployment and farmer loan waiver.

A large number of people joined AAP on this occasion.

Those who joined the party included former councillors, current and former sarpanches, people from medical, law and other professions. Apart from this, many people subscribed through digital platforms.

AAP is hoping to enter Rajasthan to provide a political alternative to the people of the state, which has seen the rule of Congress or BJP.

AAP’s national spokesperson Sanjay Singh said, “When we entered the elections in Delhi for the first time, many people abused us but we won and formed the government. We did not compromise on the promises made to the people. Recently The party registered victory in Punjab in the just-concluded assembly elections.”

He said that people’s trust in you is increasing continuously.

Singh said, “The people of the country have understood that the Aam Aadmi Party fights elections on issues like development, education and health while other parties seek votes by dividing the country on the basis of religion and caste.”

He said that issues of development and public interest have no importance for other parties.

AAP will establish its trust among the people of Rajasthan and the result will be visible in the upcoming assembly elections.

“People here are upset with both the Congress and the BJP and they have high hopes from the Aam Aadmi Party as an alternative,” he said.

Mishra said that soon a new organization of the party will be seen in Rajasthan.

He said, “Aam Aadmi Party worker will work in Rajasthan with the thought that elections are going to be held in the state tomorrow. A three-month special membership drive is being started.

Mishra said that there would be an in-charge at the district level to oversee the party affairs.

He said that those who performed well in the membership drive would be made office bearers of the party at the district and state level.

The politics of Rajasthan is dominated by the Congress and the BJP, which has 200 assembly constituencies and 25 Lok Sabha constituencies.

Originally published at Pen 18

Saturday, March 26, 2022

wimbledon: Is banning Russian tennis players from Wimbledon the right call?

Wimbledon, the most prestigious tennis grand slam, is considering its position on the participation of Russian citizens.

The British sports minister, Nigel Huddleston, recently suggested that for any Russian to play at Wimbledon, there might be a need for “reassurance” about their position on Russia’s invasion of Ukraine: “Absolutely for Russia.” Shouldn’t be allowed or able to fly the flag. We need some possible reassurance that he’s not a supporter of Putin and we’re looking at what requirements we might need and need to get some reassurance along those lines Might be possible.

The All England Lawn and Tennis Club is in discussion with the Sports Minister about the nature of the assurances and whether they will be implemented at Wimbledon.

umpire’s call

Now it seems that Russian players, including top women such as second-place men’s players, Daniil Medvedev and Anastasia Pavlyuchenkova, will be expected to remove the symbols and language associating themselves with the Russian state, and at Wimbledon. Will be committed to participate. “neutral”.

Medvedev has already taken a step in this direction by removing the Russian flag from his social media profile. He also wished for world peace.

However, the general statement of hoping for peace is not the same as taking a position on a war in which one’s country is hostile.

Make no mistake: the Wimbledon tournament – organized by a NATO country – is more than an exhibition of tennis. It is also a demonstration of what Britain considers appropriate, which is unlikely to be diplomacy and accommodation.

Huddleston feels comfortable only with Russian athletes who either oppose or do not support the war, and thus is willing to distance himself from Russian President Vladimir Putin.

in or out?

So deep is the global outrage against Putin that the sport itself has been forced to come out from behind its traditional veil of “neutrality” in political affairs.

As such, sports organizations around the world have taken positions on the participation of both Russian and Belarusian teams and athletes.

One reaction has been the boycott, with the expectation that the withdrawal of Russian teams from world sport is a necessary disgrace to the largest military offensive in Europe since World War II. The same position is taken by swimming, athletics and football.

However, some sporting bodies, such as tennis and biathlon, are allowing Russian and Belarusian individuals to compete as “neutrals”. However, tennis bodies have suspended both Russian and Belarusian players from team-based competitions.

Even the International Olympic Committee, which has long refused to take positions on geopolitical matters, called on sporting bodies and event organizers to “invite or allow the participation of Russian and Belarusian athletes and officials in international competitions”. Inspired not to give”.

In addition, at the recent Beijing Paralympics, several countries refused to participate against Russian teams, resulting in pressure on the organizers to exclude Russian athletes.

Spin or Matter?

The All England Lawn and Tennis Club has the authority to set the entry rules for Wimbledon. It may diplomatically align with the ATP and WTA (the organizing body for men’s and women’s tours), or it may impose an outright ban on Russians.

This is all controversial. Some critics have suggested that the human rights of Russian athletes are being denied, as they are not responsible for military activities in Ukraine.

However, some Russian sports stars – whether voluntarily or otherwise – have made their position known. Many have made public appearances with the letter Z, which has become a symbol of support for Russia’s attack on Ukraine.

Conversely, some Russian sports stars have voiced their disapproval of the war, given this type of dissent a dangerous stance now considered a crime – about 15,000 Russians have already been arrested.

strings attached


Countries opposing the ongoing demolition of Ukraine by Russia have at this time relied on economic sanctions as a major deterrent. Unfortunately, these measures hurt and harm ordinary Russians. Some critics argue that the West’s sanctions are hypocritical given US and allied military interventions in places like Iraq or Israel’s occupation of the Palestinian territories.

Therefore, discussions about Ukraine have focused not only on Russian imperialism and Putin’s fascism, but also on the hypocrisy of the Washington-led “rules-based order”.

The All England Club will reach a decision on whether to ban Russian players or accept them as neutral, in collaboration with the UK sports minister, at a time when Britain is supplying weapons to Ukraine. None of it is editing.

Russian tennis players, if allowed to play, will face heavy scrutiny both on and off the court. Will Medvedev’s victory be Putin’s victory? Will Medvedev’s absence contribute to the anti-war effort?

In the midst of all this are athletes who can become – perhaps unfairly – the target of sanctions. But war is a symbol of injustice.

The author is Associate Professor of Sport Management, University of Technology Sydney

Originally published at Pen 18

Biden on Putin: ‘For God’s sake, this man cannot remain in power’

President Joe Biden said his Russian counterpart Vladimir Putin “cannot stay in power,” as he delivered a keynote speech in Warsaw on the Ukraine conflict.

“We will have a different future, a brighter future rooted in democracy and principle, hope and light,” Biden said at the conclusion of the comprehensive address.

“For God’s sake, this man can’t stay in power,” he said.

Originally published at Pen 18

ipl 2022: KKR beat CSK by six wickets in IPL opener

The Kolkata Knight Riders all-rounder thrashed defending champions Chennai Super Kings by six wickets as Mahendra Singh Dhoni’s maiden half-century in three years went in vain in the first match of the IPL here on Saturday.

Dhoni, who relinquished the leadership role just two days ago, smashed an unbeaten 50 off 38 balls to take CSK to 131 for 5 with the bat.

But, KKR, who lost to CSK in last season’s summit clash, chased down the target with nine balls to spare, as India batsman Ajinkya Rahane smashed a 34-ball 44.

Rahane, who was bought by KKR for Rs 1 crore after playing very few matches for Delhi Capitals last season, was in good form with six boundaries and a six during his innings. He put on 43 runs for the opening wicket with Venkatesh Iyer (16) and it was the highest partnership for KKR in the end.

Nitish Rana (21), new captain Shreyas Iyer (20 not out) and Sam Billings (25) made useful contributions to get KKR off to a winning start to the tournament.

Iyer thus started the KKR captaincy with a win, while his counterpart Ravindra Jadeja, who replaced the iconic Dhoni as the CSK captain, began his stint with a defeat.

Iyer scored the winning run, a four, as KKR scored 133 for 4 in 18.3 overs.

Dwayne Bravo (3/20) took three wickets to equal Mumbai Indians’ Lasith Malinga in the list of highest wicket-takers in IPL history.

Earlier, KKR displayed a clinical bowling performance to restrict CSK to 131/5.

CSK crossed the 130-run mark thanks to Dhoni’s unbeaten 50 off 38 balls (7×4; 1×6) and skipper Jadeja’s 26 not out off 28 balls (1×6). Dhoni’s last IPL half-century was an unbeaten 84 against Royal Challengers Bangalore on April 21, 2019.

With the flow of an old Dhoni, CSK scored 47 runs in the last three overs.

“When MS Dhoni is batting there is always tension. I knew the momentum was going to move towards him with the dew around. It was difficult to hold the ball,” Iyer said in the post-match presentation.

“Enjoying the new franchise. The CEO, management, support staff have been excellent. Just need to keep the momentum going.”

Invited to bat, CSK opener Ruturaj Gaikwad (0) was dismissed cheaply by pacer Umesh Yadav (2/20) after being caught by Nitish Rana in the slip cordon.

The typical Wankade track, which had a good amount of bounce, helped the KKR bowlers and they made the most of it.

Devon Conway (3) and Robin Uthappa (28 off 21 balls) then tried to revive CSK’s innings but could only add 28 runs for the second wicket.

Conway looking rusty turned out to be Umesh Yadav’s second scalp.

Uthappa was brutal on Shivam Mavi, whom he smacked for a boundary in the second over followed by another boundary and a maximum in the fourth over. Meanwhile, he hit Umesh for a six.

But his stay was cut short in the eighth over when he was stumped by Shadlon Jackson off Varun Chakraborty (1/23) as CSK found themselves in trouble at 49/3.

A formidable mix between Ambati Rayudu (15 off 17 balls) and Jadeja as they slipped further to 52/4, leading to the former’s dismissal. After 10 overs, CSK were fighting at 57/4.

CSK lost their half for 61 after Shivam Dubey (3) delivered a sitter to Sunil Narine at short-midwicket off paceman Andre Russell.

Then, Jadeja and Dhoni added 70 runs for the sixth wicket to take CSK to a respectable total. The past and present captain’s pairing was initially a barrage of dot balls but Dhoni hit three boundaries in the 18th over as CSK scored 14 runs.

Showcasing a glimpse of his famous match-finishing skills, Dhoni hit a boundary and a six in the final over, giving CSK 15 runs.

The duo added 18 runs in the final over, with Jadeja hitting a six off the final ball as CSK added 74 runs in the last 10 overs.

However, in the end it proved to be insufficient.

Jadeja said that dew will be an important part of this season.

“The wicket was a bit damp in the first 6-7 overs and then it came well into the back end of the innings. We were trying to take the game deeper. Everyone bowled well considering the dew. Bravo did a lot. Bowled well.”

Originally published at Pen 18

shivraj singh chouhan: MP chief Shivraj Singh Chouhan begins preparations for 2023 election

Madhya Pradesh Chief Minister Shivraj Singh Chouhan started preparations for the 2023 assembly elections on Saturday with the state cabinet’s Chintan Shivir (Chintan Shivir) in Pachmarhi to take stock of the implementation of government schemes. Presentations will be made over two days by 13 groups of ministers to prepare an action plan for the assembly elections.

Chouhan’s focus on beneficiaries in the state has come after the party’s success in Uttar Pradesh in the recent elections. BJP believes that beneficiaries of government schemes in UP voted for the party in large numbers.

Many schemes launched by the MP government were put on hold during Kovid-19. On the first day of Chintan Shivir, the government decided to restart the CM Tirth Yatra scheme for senior citizens. The scheme will resume from April and this time the chief minister and other ministers will also join the pilgrims.

Another such scheme was Mukhyamantri Balika Vivah Yojana, under which the government prepared the marriage calendar of the year and the marriage ceremony would be attended by MLAs and other public representatives.

Originally published at Pen 18

Brajesh Pathak: A sharp politician who knows which way winds are blowing

The new Deputy Chief Minister of Uttar Pradesh, Brajesh Pathak, is a rare politician who has emerged in the BJP after crossing a lot of political spectrum in the state.

He joined the party in 2016 after breaking away from the BSP after joining the Congress.

Pathak entered politics as a student leader, becoming the vice-president of the Lucknow University Students’ Union in 1989 and president in 1990. Interestingly, it was Vinay Tiwari, son of Chief Minister Yogi Adityanath’s staunch and strongman Vinay Shankar Tiwari, who helped him. popularity and winning university elections. The two were close friends and remained together during the early years of their student life and active politics.

Tiwari, who claimed to have brought Pathak into politics, said, “Perhaps he is the first politician of non-BJP origin in Uttar Pradesh, who has done so much good for himself by bypassing prominent BJP people.” Recalling his university days, Tiwari said, “He was not very popular, but was good at organization. But one quality that he saw was that he was a good meteorologist.”

Both he and Pathak will join the BSP together. Vinay, a former MLA from Chilupar, switched to the SP ahead of the 2022 assembly elections.

Pathak, a law student who completed his LLB in 1991, served as a law minister in Adityanath’s first cabinet.

SK Dwivedi, a retired professor at Lucknow University, said, “He was never rude and always behaved well unlike many other student leaders of the time, when Pathak was learning the ropes as a struggling student leader.” The son of a homeopathic doctor, Pathak was born in 1964 in Mallawan, Hardoi and did his schooling from Subhash Inter College, Bangarmau. “While in school he was shy but very smart in studies. Every day he used to travel 17 km from Mallavan to reach school. We were all surprised when he entered politics as he was too simple and soft-spoken for the field. Vinod Gupta, who studied commerce in class XI and XII with Pathak, said and now runs a flour mill.

Even when Pathak joined Congress in 1992, he had to contest his first assembly election in 2002 from Mallavan, but he lost by a marginal margin of 150 votes.

Sensing a change in the political winds, almost two years later, he left the Congress and rode the elephant (BSP). “Behenji (BSP chief Mayawati) herself called her and offered her the Unnao Lok Sabha seat,” a former BSP colleague said on the condition of anonymity. Mayawati was then testing a social alliance with Brahmins under the slogan ‘Hathi nahi Ganesh hai, Brahma, Vishnu, Mahesh hai (the elephant also represents Hindu deities)’.

Soon after winning his first election, he became a close associate of BSP general secretary Satish Chandra Mishra and was considered close to Mayawati in organizing rallies. In 2009, Mayawati sent him to the Rajya Sabha where he was the party’s chief whip. But his success was short-lived and he lost from the same seat during the Narendra Modi wave in the 2014 general election and finished third.

In the 2012 state election, BSP had given ticket to his wife Namrata from Unnao Sadar in which she stood third. Regaining the changing political climate, he joined the BJP ahead of the 2017 assembly elections. Interestingly, he did so just a day after he organized a mega rally for Mayawati in Agra. This proved to be the turning point of his career. The BJP fielded him from the prestigious Lucknow Central Assembly seat, which he won by defeating Samajwadi Party strongman Ravidas Mehrotra by 7,000-odd votes and entered the assembly for the first time. He was rewarded in 2017 by making him a law minister in the Adityanath-led government. Since then his stock has only increased in the party.

Analysts believe that the BJP has rewarded him for his networking skills and for cementing the party’s support base among Brahmins in the 2022 assembly elections.

Pathak told ET, “Whatever responsibility is given to me, I will fulfill it with full honesty and integrity.

A Lord Hanuman-bhakt (devotee), he has replaced Dinesh Sharma, who is also a Brahmin, as the deputy CM. Former professor Dwivedi said, “He has been very active in the last five years, which Dinesh Sharma lacked. He never calls anyone approaching him for any work. He clearly knows that people How to keep him happy.”

In the recent assembly election, he was fielded from Lucknow Cantt, where he defeated Raju Gandhi of SP by 39,512 votes. Some believe that his seat was changed from Lucknow Central to Cantt, which was considered a safe seat for the BJP, as Mehrotra, the SP candidate from Lucknow Central, was considered a good contestant. Mehrotra won his election.

Originally published at Pen 18

View: Never mind giving peace a chance, all we are saying is we need a break

I really think we need a break. We’ve had two years of COVID and now Vladimir Putin decided it might be a good time to start World War 3. Do they have no sense of dignity? What about a year where nothing happens? Where the worst part is we discuss whether Indian cricketers should dance on Instagram or not.

I grew up in the era when the Berlin Wall fell. For young people, it’s called the ’90s. The worst part of the entire decade was Bill Clinton trying to prove that he had no affair under her table. That was the worst thing. I’d love to go back to that.

How did the ‘new normal’ mean that either the whole world dies of covid or the whole world dies of world war? How is this normal? Of course, we have our own woes to fight. Whether a particular movie is really worth watching or not, or whether headscarves should be allowed in colleges. Why doesn’t everyone go on vacation post Covid, post pictures of funky food or waterfalls? Why is our first reaction when we take off our masks? Post-Covid everyone was hoping for air travel and revenge, not the random attacks that stagger the Sensex.

I’m with the Chinese proverb, ‘May you live in interesting times.’ The timing has been very interesting. I want to live in boring times. I thought that was the whole point of Joseph Robinette Biden becoming president. The idea of ​​a 78-year-old leading the free world meant we could all take a long nap on any given afternoon like any Bengali and Spaniard. But now we are on the verge of a possible nuclear conflict and still have to conduct RTPCR tests.

Take me back to a time when the biggest fight on a WhatsApp group was the wedding photo over which relative looked fat, not Left vs Right India – and whether Nehru was to blame for my first girlfriend leaving me was ordained.

I want to go back to a time when the biggest concern of entering an airport was how much extra baggage you had, and not that you would kill everyone just breathing in or die breathing in someone else. I would also like to go back to the times when our movies were about Shah Rukh or Hrithik Roshan dancing for no reason as they dressed up in a chewing tobacco ad, in a UK palace that used to be Amitabh Bachchan’s home. passed. Much better now than when movies are about the authenticity of carnage. Also, it would be really cool for commercial aircraft to fly over Central Asia without pilots looking for missiles from their windows.

We all want a break. Everyone lost work or a relative for two years. Everyone has gone mad by staying at home or has driven someone crazy. we are tired. Now that we have to come out, is our first reaction, bombing, inflation and religious strife? Who needs it? Why isn’t our first reaction ‘let’s swim’?

People might say that this is a silly suggestion when there is so much wrong with the world. But maybe if we were a little bit stupid, there would be little wrong with the world. Maybe Mr. Putin would have wanted to kill fewer people if he watched a little Tom and Jerry, or danced to Hardy Sandhu’s “Lightning Lightning” right after Omicron ended.

Recently, a news anchor shouted at a panelist about the Ukraine war calling him Mr McAdams. The result was that the real Mr. McAdams, an American security analyst, said, ‘Dear host, I haven’t said a word. Why are you yelling at me?’ Where does the world seem to be today? We are all Mr McAdams. Sorry, I mean #WeAreAllMrMcAdams.

Originally published at Pen 18

Friday, March 25, 2022

Fred Segal Brings Back Its ‘Jean Bar’ – WWD – Pen 18

Fred Segal – founded in 1961 – relaunched his gin bar, unveiled in 1965.

Found inside its Los Angeles flagship on Sunset Boulevard, the retailer plans to launch six stand-alone, 900-square-foot “gene bar” locations by 2023.

“Fred Segal, the man and the brand, has always been ahead of the curve in terms of setting trends,” Jeff Lotman, owner and CEO of Fred Segal, said in a statement. “From day one, Fred Segal created a retail scene that defined Los Angeles fashion and revolutionized the style that spanned decades, and Denim Bar was just the beginning of that.”

According to the retailer, Segal sold the jeans for $19.95 in those days, when the average price tag was $3.

“My first experience with the brand was as a customer visiting a denim bar in the ’80s,” Lotman continued. “It was a place to see and be seen – it was like nothing I had ever seen before. We wanted to bring back that sense of magic and nostalgia, but in a completely new and innovative way that would serve our customers.” want now.”

Brands showcasing men’s and women’s denim include Good American, Frame, Knots, EB Denim, Gunny, Pale, Re-Dun, Still Here and Closed.

According to the company, “Denim brands selected as part of the curation are evaluated and adhered to a set of standards focused on sustainability and inclusivity.” “Many factors are considered and analyzed for denim labeled as ‘sustainable,’ including the materials, materials and processes used during manufacturing.”

Take a closer look inside.
Courtesy

Originally published at Pen 18

new zealand: Rain interrupts play in second ODI against New Zealand with India on 22-0 after 4.5 overs

India were 22 for no loss in 4.5 overs against New Zealand when rain stopped play in the second one-day international at Seddon Park here on...