“That man is richest whose pleasures are cheapest”
Hi <<First Name>>
Last week, Netflix India aired its investigative docuseries called Bad Boy Billionaires. Greed, corruption, and the downfall of the mighty—a cocktail that appeals to everyone's senses. The show picked: Vijay Mallya, Nirav Modi and Subrata Roy.
Fugitive Economic Offenders Act, 2018:
Shortly after the shit hit the ceiling, the government of India passed the Fugitive Economic Offenders Act, 2018, which essentially empowers any special court (set up under the Prevention of Money Laundering Act, 2002) to confiscate all properties and assets of economic offenders who are charged in offences measuring over INR 100 crores and are evading prosecution by remaining outside the jurisdiction of the Indian court.
In other news, here are 7 things you need to know this week, happy reading.
7 things you need to know...
1.Bangalore-headquartered Razorpay, one of the handfuls of Indian fintech startups that have demonstrated accelerated growth in recent years, has joined the coveted unicorn club after raising USD 100 Million in a new financing round, the payments processing startup said on Monday.
2. EQC, the first all-electric Mercedes SUV, launched in India at INR 99.30 lakh. A report by Avendus Capital, stated, with the present and projected level of electric vehicle (EV) penetration in the country, EVs in India could represent an INR 500-Billion opportunity by 2025. Two- and three-wheelers will lead the electrification movement in India in the medium term. We dialogued with Nilesh Bothra, Calamus, they have developed the world's safest e-bike, interested in this industry? Hear the podcast now!
3. Do you Momo? Wow! Momo Foods raised INR 40 Crore Debt from Anicut Capital. Kolkata-based quick-service restaurant chain Wow! Momo Foods specialises in momos and dumplings and operates around 293 outlets all over India.
4. Indians are fast losing all confidence in the country’s economy. For the third consecutive month, in September, consumers in the country said they were more pessimistic than before about India’s economic prospects, revealed the Reserve Bank of India’s 'Consumer Confidence' survey. The consumer confidence index was at a record low of 49.9% in September compared to 53.8% in July.
5. On October 10, founders of 15 Indian startups held a virtual meeting with the Competition Commission of India (CCI) to discuss Google’s anti-competitive policies in the country. “With more than 95% of India’s digital population accessing the Internet through Google, this strategy of having an OS and Play Store, together gives Google an advantage over other app stores and operating systems," said one of the founders present at the meeting.
6. Mr Kapil Sekhri, CEO, Fratelli Wine, passed away a few days ago. We at Dialogue Room, have been hit hard by his news. We had the chance to dialogue with Mr Sekhri on a podcast, where he spoke about Fratelli wine, with such passion and love. He has created a brand that competes globally and puts India on the world map. Hear how Mr Sekhri built a world-class product like Fratelli here. We will miss you, and remember you fondly.
7. Executive coaching is an estimated USD 3 Billion a year global industry, with the median rate for a coach hovering around USD 500 an hour. In India, this is an extremely nascent industry but with a sharp growth rate. Given the great economic volatility and complex challenges staring at CXOs, executive coaching is on the rise. Read more here.
Share the love ❤️
Give us a shout out, share our links, dialogue our name out there. Received this as a forward? Click here to subscribe!
