CEO Naresh Takkar Sent On forced Leave By ICRA Amid SEBI Stress

July 2, 2019

On Monday, ICRA Ratings Ltd. has decided to send its managing director and chief executive officer Naresh Takkar on forced leave, pending an inquiry into the “concerns” raised by the Securities and Exchange Board of India.
Action against Takkar has been taken “pending inquiry into the concerns raised in an anonymous representation, that was forwarded to the company by the Securities and Exchange Board of India”, said ICRA, which is majority-owned by Moody’s Investor Services Inc. The action is effective immediately, the statement signed by chairman Arun Duggal said.
A May 9 media report had said ICRA’s top management was being investigated for influencing ‘AAA’ rating on IL&FS and had hired KPMG to look into the allegations.
The IL&FS crisis, that surfaced in September last year, spooked the credit markets immediately, triggering an NBFC liquidity crisis that continues till date.
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Tesla recalls 46,096 Cybertrucks over loose panels posing road hazard

Dhruva KulkarniMarch 20, 2025March 20, 2025

March 20, 2025March 20, 2025

Tesla is recalling 46,096 Cybertrucks in the US due to a defect that could cause an exterior panel to detach while driving, posing a road hazard.

The recall marks a setback for Tesla, as the Cybertruck’s success is crucial to its growth amid rising competition and an ageing vehicle lineup.

Tesla will replace the faulty rail assembly free of charge, with the recalled vehicles representing most Cybertrucks on the road.

Demand for the unconventional EV pickup has already shown signs of weakness following delays, and Tesla shares fell nearly 2% in premarket trading.

Tesla shares have dropped 42% this year amid a sluggish EV market and concerns over CEO Elon Musk’s growing government role.

The company led the US recalls in 2024, with 5.1 million vehicles affected, though most issues were resolved through software updates.

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Pentagon plans to cut up to 60,000 civilian jobs

Dhruva KulkarniMarch 19, 2025March 19, 2025

March 19, 2025March 19, 2025

The Department of Defense plans to cut 50,000 to 60,000 civilian jobs, targeting a 5% to 8% reduction in its 900,000-strong workforce.

Around 6,000 positions per month will be eliminated by not replacing departing workers, raising concerns that service members may fill vacant roles.

The reduction will occur through voluntary resignations, firing probationary workers, and leaving vacated positions unfilled.

Defense Secretary Pete Hegseth assured that military readiness would not be affected, though some veterans will be impacted.

A federal judge has temporarily halted the termination of 5,400 probationary employees, initially dismissed for poor performance or misconduct.

Officials are reviewing personnel to ensure essential national security roles remain unaffected.

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China welcomes PM Modi’s remarks on India-China ties

Dhruva KulkarniMarch 18, 2025March 18, 2025

March 18, 2025March 18, 2025

China welcomed Prime Minister Narendra Modi’s positive remarks on India-China ties, emphasising that cooperation between the two nations is the way forward.

Chinese Foreign Ministry spokesperson Mao Ning said the Xi-Modi meeting in Kazan last year provided strategic guidance for improving ties.

She noted both countries have strengthened exchanges and cooperation, achieving positive outcomes in various areas.

China expressed readiness to work with India to enhance cooperation and advance stable bilateral relations, marking 75 years of diplomatic ties.

In a podcast with Lex Fridman, Modi said normalcy has returned to the India-China border after talks with Xi, emphasising their long-standing cultural ties.

He stressed that India-China cooperation is crucial for global stability, adding that competition between the two should be healthy, not conflict-driven.

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Russia, US May Start Ukraine Peace Talks Today

Dhruva KulkarniMarch 13, 2025March 13, 2025

March 13, 2025March 13, 2025

Russia has signalled its willingness to have peace talks with the US over Ukraine, with discussions possibly beginning as early as today, according to Foreign Ministry spokeswoman Maria Zakharova.

The development comes after high-level diplomatic talks in Saudi Arabia, where Ukraine showed openness to a 30-day ceasefire, and the US agreed to present the proposal to Moscow.

The Kremlin confirmed that US negotiators were heading to Russia, indicating a potential step forward in diplomatic engagements between the two nations.

Kremlin adviser Yuri Ushakov spoke with US National Security Adviser Mike Waltz on Wednesday, emphasising ongoing diplomatic efforts to find a resolution to the conflict.

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Greenland Opposition Party Secures Victory in Legislative Elections

Dhruva KulkarniMarch 12, 2025March 12, 2025

March 12, 2025March 12, 2025

Greenland’s centre-right opposition secured a surprise victory in the legislative elections, with rising support for the nationalist Naleraq party advocating swift independence.

The Democratic Party won 29.9% of votes, tripling its 2021 result, while Naleraq more than doubled its share to 24.5%.

Outgoing PM Mute Egede’s Inuit Ataqatigiit party and its coalition partner Siumut placed third and fourth.

With no party securing a majority, coalition talks will shape the next government and its approach to independence.

Trump’s renewed push to acquire Greenland influenced the campaign, driving higher voter turnout.

Naleraq seeks immediate independence, but others prefer financial stability first, as Greenland relies on Danish subsidies.

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