Archives May 2025

By-Mr Amit Goyal, Managing Director, India Sotheby’s International Realty

“The recent Supreme Court verdict allowing a legal heir in constructive possession to sell inherited property without unanimous consent is a landmark step toward simplifying real estate transactions in India. It offers much-needed clarity and relief in situations where prolonged disputes among heirs have historically delayed or derailed legitimate deals. This move not only empowers rightful stakeholders but also brings greater confidence to genuine buyers and investors. As an industry, we welcome this progressive judgment that balances legal responsibility with commercial practicality.”

Chandigarh, May 03, 2025: Bank of India has signed a Memorandum of Understanding (MoU) with Sa-Dhan, an RBI-appointed self-regulatory for microfinance and impact finance institutions, to enhance financing access for small, micro and women-led enterprises. The two organisations will collaborate to achieve key National Financial Inclusion and Sustainable Development Goals (SDGs).

The MoU is a non-commercial arrangement outlining key areas of collaboration, including enterprise finance for SHGs and non-SHG members, climate-resilient technologies and green financing, WASH (Water, Sanitation and Hygiene) financing, co-lending to MFIs, digital transformation and technology adoption, and, most importantly, financial literacy and awareness of government schemes.

The MoU aims to enhance collaboration with microfinance institutions to provide affordable, flexible financing to underserved communities, particularly women entrepreneurs. Loan disbursement and monitoring will be enabled through digital platforms. Bank of India and Sa-Dhan will drive initiatives to raise awareness of government schemes, financial services, and social security programmes among rural entrepreneurs.

Bank of India Executive Director P.R. Rajagopal said, “BOI’s partnership with Sa-Dhan will strengthen small, micro and women-led enterprises by enabling timely and seamless access to finance, and supporting key financial inclusion and sustainable development goals. It will benefit SHG and non-SHG members, promote climate-resilient technologies through green financing, and expand the scope of WASH and digital literacy initiatives.”

 Jiji Mammen, Executive Director and CEO, Sa-Dhan, said, “Our collaboration with Bank of India marks a significant step toward equitable access to affordable finance for enterprises, including SHGs and non-SHGs, while achieving sustainable development goals such as climate financing. Coupled with digital adoption and financial literacy, we aim to expand enterprise financing to rural and semi-urban areas, empowering small businesses and women-led enterprises with flexible lending for inclusive development.”

Mumbai, 3 May 2025: In a pioneering development that places India at the forefront of global discourse on the regulation of Artificial Intelligence (AI), Cyril Amarchand Mangaldas, Mr. Cyril Shroff and O.P. Jindal Global University (JGU) today announced the establishment of the Cyril Shroff Centre for AI, Law & Regulation at Jindal Global Law School (JGLS), India’s top-ranked and globally reputed law school.

The Centre is established with the generous support of Mr. Cyril Shroff, Founder & Managing Partner of Cyril Amarchand Mangaldas (CAM), India’s leading law firm, through a landmark endowment. This Centre will be India’s first dedicated Centre of Excellence with a focus on the complex intersection of AI, law, policy and regulation.

India, as a growing digital economy, faces urgent challenges in addressing the ethical, legal, and policy dimensions of AI deployment. The Cyril Shroff Centre for AI, Law & Regulation aims to respond to this pressing need by producing rigorous research, facilitating knowledge creation, shaping public policy, and driving capacity-building initiatives. The Centre will engage with legal institutions, think-tanks, government agencies, intergovernmental organisations, corporations, and academia and build responsive AI governance frameworks in India and beyond. The Centre aims to become a centre of excellence to support and co-create ethical frameworks for AI and technology with policy makers and regulators.

The Centre has outlined 10 major objectives that will guide its work. These include:

• Research and Knowledge Creation: Produce cutting-edge research on AI regulation, ethics, governance, and liability.
• Policy Formulation and Advisory: Offer expert policy recommendations to Indian and global regulatory bodies.
• AI and Law Curriculum Development: Develop new courses on AI and law, and offer executive education programmes for legal professionals, policymakers, and corporate leaders.
• Multistakeholder Engagement: Collaborate and establish partnerships with industry, government, academia, and civil society on AI governance.
• Global AI Governance and Ethics: Actively contribute to international discussions on AI law and collaborate with organisations like the OECD, UN, WTO, EU, and G20 AI initiatives.
• AI and Human Rights: Investigate the impact of AI on fundamental rights, privacy, discrimination, and bias, and propose ethical AI regulatory frameworks.
• Legal Tech and AI Regulation: Study AI’s role in transforming legal practice, dispute resolution, and justice delivery, and explore AI-powered legal research, automation, and contract management tools.
• Litigation, Liability, and AI-driven Risks: Address emerging legal questions around AI accountability, product liability, autonomous system, and AI accidents.
• AI and Financial Regulation: Assess AI’s implications for banking, fintech, algorithmic trading and risk management, and develop policy solutions for AI regulation in finance and securities markets.
• Capacity Building and Public Awareness: Organise lectures, conferences and training programmes, and develop educational resources for broader public engagement.

Mr. Cyril Shroff is a third-generation lawyer, who has had an illustrious career spanning over four decades. Mr. Shroff has developed a style and art—deeply entrenched in values—of legal dealings which have inspired and which continue to inspire many young lawyers in the country. Mr. Shroff has aligned the priorities of CAM with national growth, a remarkable sign of his devotion to the country by being at its service. Mr. Shroff believes in the possibilities of technology and that its use and application must be ethical and value-based. He has brought in many technological aids in his firm, not just by way of optimising resources and time, but by attaining precision, accuracy, and perfection to the systems, processes, and products.

CAM commemorates 10 years of its existence in 2025, which builds on a 108-year legacy of Amarchand Mangaldas. These ten years have been marked by consistent growth—evincing respect and credibility—with a clear-eyed focus on the future, championing and adopting technology. His contributions to CAM have been characterised by an “ahead of the curve”, and an innovative, creative and intellectually curious culture. This is being realised through a range of initiatives, the chief among them is the establishment of the Cyril Shroff Centre for AI, Law & Regulation at JGLS.

Affirming his commitment to technology-based growth of the country and society, Mr. Cyril Shroff stated, “Artificial Intelligence is no longer a futuristic idea—it is here, deeply embedded in the way we live, work, and govern. India has an opportunity to take a leadership role in the development of ethical frameworks for policy and regulation of AI and digital technologies.  I am delighted to support the establishment of the Cyril Shroff Centre for AI, Law & Regulation at Jindal Global Law School. This Centre will be a platform for thought leadership, rigorous research, and policy engagement, helping India craft a balanced, ethical, and forward-looking regulatory framework for AI. This commemorates ten years of Cyril Amarchand Mangaldas, which builds on the legacy of 108 years of Amarchand Mangaldas. The values and legacy of this Firm has been about foresight and vision, and an ‘ahead of the curve’ mindset along with character and a commitment of ethical values. Both these ideas will be at play at the Centre, creating a future ready framework for AI, but grounded in ethical frameworks.”

Professor (Dr.) C. Raj Kumar, Founding Vice Chancellor, O.P. Jindal Global University (JGU), remarked, “This is a historic moment for JGU and legal education in India. The Cyril Shroff Centre for AI, Law & Regulation will lead national and international efforts to understand and regulate AI’s transformative impact on our societies. We are deeply grateful to Mr. Cyril Shroff for his visionary support. This Centre will not only strengthen India’s capacity for thought leadership in AI governance but will also set new global standards for research, scholarship, and policy engagement in this critical field.”

Objectives and Vision of The Cyril Shroff Centre for AI, Law & Regulation

As India’s top-ranked law school and among the world’s top 100, JGLS offers global excellence, multidisciplinary depth, and robust research infrastructure, providing a strong foundation for the Centre.

To fulfil its vision and mission, the Centre will build strong partnerships with Indian agencies such as NITI Aayog, Ministry of Electronics & IT, RBI, SEBI, and TRAI; global regulators like OECD, EU AI Act institutions, US FTC, and UK AI Safety Institute; leading universities including Harvard, Oxford, Stanford, MIT, and other AI ethics and law centres; and technology leaders like Microsoft, Google, OpenAI, Meta, and firms in India’s vibrant tech ecosystem.

The five-year strategic vision of the Centre includes inter alia launching interdisciplinary research projects, AI integrated law courses, and executive training programmes. It will develop an AI ethics framework for India and policy whitepapers, providing impactful inputs to government and regulatory bodies. In its pursuit to establish a global AI law network, it will host an international AI law summit, and foster stakeholder collaborations and industry partnerships. It will also establish chair professorships and research grants, and publish scholarly works on AI law and governance.

With a clear mandate and significant investment, the Cyril Shroff Centre for AI, Law & Regulation is poised to become a global hub for research, education, and policy development. It will shape India’s leadership in the governance of AI and emerging technologies, influencing global conversations on ethics, law, and regulation.

Berlin, Germany, and Westminster, Colo.,2 May, 2025 – UP42 has partnered with Maxar, the leading provider of secure, precise geospatial insights, to make Maxar’s very high-resolution satellite UP42 has partnered with Maxar, the leading provider of secure, precise geospatial insights, to make Maxar’s very high-resolution satellite imagery and tasking products available in the UP42 platform, broadening global access to the most advanced commercial geospatial intelligence.

UP42 customers can now directly task Maxar’s very high-resolution constellation, including its WorldView Legion satellites. With Maxar’s constellation able to revisit some Earth locations up to 15 times per day, UP42 customers will be able to access this advanced geospatial intelligence in near real-time. Soon, customers will also be able to order 30 cm-class and 50 cm-class imagery from Maxar’s archive, which can be combined with advanced AI and machine learning technologies to analyze patterns of life.

“Maxar’s integration marks a major milestone for UP42, providing our customers with greater flexibility, scale, and precision,” said Jussi Koski, CPO at UP42. “The ability to directly task Maxar satellites, along with upcoming archive access, makes UP42 a comprehensive source for leading geospatial data.“

UP42’s streamlined satellite tasking interface unlocks multi-AOI uploads, instant price estimates, and order tracking. This enables customers across civil government and a wide range of commercial industries—including oil, gas, mining and energy—to tackle some of their biggest real-world challenges, from infrastructure monitoring to environmental compliance.

“UP42 is a mission-critical partner for civil and commercial customers around the world, and by joining Maxar’s Partner Ecosystem, UP42 can give those customers access to more advanced geospatial intelligence that helps them act and decide with more confidence,” said Anders Linder, SVP and General Manager of Maxar Intelligence’s International Government business.

Customers can now task Maxar’s very high-resolution multispectral and panchromatic imagery on the UP42 platform in both mono and stereo formats.

Chandigarh, May 02, 2025: ChrysCapital affiliate, Sepia Investments-backed Corona Remedies Limited, an India focused branded pharmaceutical formulation company has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).

The company is engaged in developing, manufacturing  and marketing products in women’s healthcare, cardio-diabeto, pain management, urology and other therapeutic areas and it plans to raise funds through initial public offerings (IPO) aggregating up to ₹800 Crore. The entire ₹800 Crore is an Offer For Sale. 

The Equity Shares are proposed to be listed on the BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”).

JM Financial Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited) & Kotak Mahindra Capital Company Limited are the Book Running Lead Managers to the issue.

Bengaluru, May 2, 2025– Hilton Bengaluru Embassy Manyata Business Park celebrates three transformative years of hospitality by planting roots—literally. In partnership with environmental NGO SayTrees Environmental Trust, the hotel has launched a meaningful green initiative: for every room booked in May 2025, a tree will be planted in the guest’s name, creating a living legacy of sustainability and community impact.

Far from a symbolic gesture, this initiative offers a deeply personal connection to nature. Each tree will be geotagged, cared for by a dedicated local farmer, which will further support their livelihoods, and visible to the guest via a digital dashboard. Part of a farmer-managed program, these trees will have a survival rate exceeding 90%. This initiative represents more than carbon offset—they represent continuity, care, and contribution.

 “Our third anniversary is not just a celebration — it’s a reaffirmation of our values,” said Mr. Manish Garg, General Manager, Hilton and Hilton Garden Inn Bengaluru Embassy Manyata Business Park. “This year, we wanted to create something lasting. Planting a tree for every booking is our way of saying thank you — to our guests, to our community, and to the planet we all share.”

This milestone initiative aligns with the hotel’s broader sustainability ethos. Hilton Bengaluru Manyata is already home to a range of eco-forward practices: a solar-powered hot water system heating 15,000 liters daily, an in-house glass bottling plant eliminating 2,500 plastic bottles each day, and the complete removal of single-use plastics from guest rooms. From eco-mugs to refillable amenities, every detail reflects thoughtful hospitality that treads lightly on the earth.

Since opening in 2022, Hilton Bengaluru Embassy Manyata has redefined premium business travel in North Bengaluru. With nearly 60,000 sq. ft. of versatile event space across 22 cutting-edge venues, the hotel is a preferred destination for MICE (Meetings, Incentives, Conferences, and Exhibitions). Its strategic location — just 30 minutes from Kempegowda International Airport and within the Embassy Manyata Business Park — makes it an ideal choice for both domestic and international travelers.

 The dual-brand complex, housing both Hilton and Hilton Garden Inn under one roof, is among the largest of its kind in South India, seamlessly integrating work, leisure, and wellness. Guests also enjoy proximity to some of Bengaluru’s top dining, shopping, and entertainment destinations, making it as much a lifestyle destination as a corporate haven.

In an industry driven by moments, Hilton Bengaluru Manyata is choosing to make a mark. With every guest contributing to a greener India, the anniversary campaign serves as a powerful reminder that hospitality can go hand-in-hand with healing the planet.

MIG Cricket Club and CCI A won two matches each on the opening day of the Motiram Cup to make a strong start in the Motiram, Ulla and Kanji Cup Inter-Club Badminton Championships, organised by GMBA, and hosted by Willingdon Sports Club, here, on Thursday.

MIG, helmed by Mangrish Palekar and Ruturaj Rathod, blanked NSCI B 3-0 and then went on to outplay Thakur Sports Club by a similar scoreline.

CCI A, with fancied names like Nigel D’Sa and Siddhesh Aroskar in their ranks, beat NSCI A 3-0, before taking the court again to get the better of P M Hindu Bath 2-1 in the round robin action.

Brief Score

The Chembur Gymkhana beat CCI C 3-0

Parthive Nair/Amey Joshi bt Ketan Patel/Nihal Peerbhoy 15-3, 15-3; Siddharth Gupta (C) bt Rustom Warden 15-10, 15-6; Aman Farogh Sanjay/Suyog Lokhande bt Rishi Agarwal/Ritish Desai 15-9,15-4

MIG Cricket Club beat NSCI B 3-0

Arun Suresh/Siddhesh Raut bt Shreyansh Giya/Amay Vrudhman 15-5, 15-12; Ruturaj Rathod bt Gurpreet Singh 15-5, 15-7; Mangirish Palekar/ Ruturaj Rathod bt Mehull Agarwal/Ravi Kant Mall 15-4,15-7

Brihanmumbai Kreeda Ani Lalit Kala Pratishthan beat Bombay Gymkhana 3-0

Sushrut Karmakar/Anmoal Behrani bt Aditya Khansaheb/Jehan Daboo – 15-7, 15-11; Soham Phatak  bt Viraj Kuvale 9Bombay Gym) – 10-15, 15-9, 15-9; Harshal Soni/Soham Phatak was granted a walkover win against Ayaz Bilawala/Jatin Aggarwal

CCI A beat NSCI A 3-0

Siddhesh Aroskar/Nigel D’Sa  bt Siddharth Naudal/Sunnet Kabra  15-13, 15-11; Jawaduddhin Shaikh bt Siddharth Naudal 15-12, 7-15, 15-10; Harsh Jhaveri/Zarir Warden bt Jai Sonthalia/Yameer Sanghavi 15-12, 15-11

GCH beat NSCI C 3-0

Ishan Thaker/Dhruv Jhaveri bt Aditya Somani/Harsh Shah 15-9, 15-14, 11-15; Parthh Chandak bt Tejas Pikale 8-15, 15-10, 15-13; Atik Shah/Parthh Chandak bt Aryan Ahuja/Tejas Shah 15-7,11-15,15-9

MIG Cricket Club beat Thakur Sports Club 3-0

Arun Suresh/Siddhesh Raut bt Chandan Kashyap/Karthik Laxman 15-5,15-2; Ruturaj Rathod bt Shivaan Mishra 15-4, 9-15, 15-8; Mangirish Palekar/Ruturaj Rathod bt Amit Gupta/Shivaan Mishra 15-10,15-13

Recounting his days at IIM as he addressed the graduating students, their guardians and the faculty, Shri Alok Agrawal said, “Coming back to an IIM convocation brings back memories – telex machines at Bank of America, the early days of computer science and the signature Vadilal icecreams. In just one generation, we’ve moved from punch cards to AI, from waiting days for a reply to being surrounded by satellites. Most things remain the same, except for the advancements in technology and its rapid growth.”

“This incredible pace of innovation is both humbling and empowering. But as graduates of an IIM, part of the most privileged 0.01%, the real measure of success lies not just in what you achieve, but in the impact you make. Use your education not only to build careers, but to shape a more inclusive and equitable society.”, he urged on.

Speaking on the occasion, Prof. Somnath Chakrabarti, Director (I/C) and  Dean of Academics, IIM Kashipur, said, “At IIM Kashipur, we believe management education must stay rooted in the realities of the world it seeks to lead. We are aligning academic practice with global shifts—from AI-driven analytics and sustainable development to India’s rise as a skill-building and manufacturing hub. Our students are being prepared to navigate not only business complexity but also societal change. As educators, we believe that fostering ethical, empathetic, and responsible leadership is as important as building strategic and analytical capability.

Staying true to its distinctive academic philosophy, IIM Kashipur continues to redefine management education by seamlessly blending academic excellence with real-world immersion. Embodying the spirit of “Bharat meets B-School,” the institute’s pioneering Experiential Learning (EL) Program places students at the heart of rural and semi-urban India. Through field-based consulting projects with over 90 grassroots organizations across Uttarakhand, students engage directly with initiatives in sustainability, entrepreneurship, and rural development, transforming management knowledge into meaningful societal impact.

“The Indian Knowledge System (IKS) is a rich repository of traditional wisdom spanning fields like philosophy, Ayurveda, mathematics, astronomy, agriculture, and architecture. Rooted in ancient texts such as the Vedas and Upanishads, it offers deep insights into life and nature. Complementing this is India’s vibrant cultural heritage—reflected in its music, dance, literature, festivals, and crafts.”  Prof. Somnath Chakrabarti highlighted.  “Through the IIM Kashipur education system, we try to instill a robust value system among students, which is essential for shaping responsible, ethical, and empathetic individuals who contribute positively to society.”, he concluded.

National, 2 May , 2025: In a surprising turn amid broader economic shifts, India’s manual labour market is witnessing an unprecedented boom. According to new data released by WorkIndia, the leading blue and grey-collar recruitment platform, job applications by manual labour workers rose by 44%, salaries climbed across all job categories, and smaller cities, led the charge with a staggering 105% increase in applications.

The rise is widespread across industries, including delivery, hospitality, maid services, and driving, pointing to stronger hiring activity and improved compensation. Delivery job salaries alone rose by 24%, and wages for factory labourers increased by 21%, indicating better earnings across traditionally low-paying sectors. Importantly, this growth is not just in numbers; it’s in quality too. Employers are increasingly favouring semi-skilled and experienced workers, even for roles that historically demanded little to no prior experience. In fact, while overall job opportunities expanded, openings exclusively for freshers plummeted by 73%, signalling a clear shift in employer expectations.

The report highlights a story of upward mobility within India’s blue-collar workforce. Workers with education levels of tenth grade or below saw job opportunities rise by 24% to 33%, while male candidates saw a notable 42% growth in openings across key industries. Job applications have increased across all genders, showcasing greater inclusivity within this booming segment.

While the overall outlook is optimistic, a few traditional roles such as office boys, peons, security guards, cooks, beauticians, housekeeping staff, and ward boys recorded a dip in job postings. Certain regions, like Andhra Pradesh, Chandigarh, Himachal Pradesh, and Goa, also saw a slight decline, but these exceptions do little to dent the strong national growth story.

Mr. Nilesh Dungarwal, CEO and co-founder of WorkIndia, commented, “The manual labour workforce is the backbone of India’s economy, and today, they are finally seeing the recognition they deserve, through better pay, more opportunities, and a stronger push for skills. At WorkIndia, we are proud to be at the forefront of this transformation, connecting talent from every corner of the country to opportunities that uplift lives and build a stronger nation.”

WorkIndia’s findings showcase an evolving blue-collar economy, one that is not only expanding but also raising the bar for talent, wages, and expectations, ushering in a new era of opportunity for millions across the country.

By Mr. Vikram Kasat, Head – Advisory, PL Capital

“The Indian equity market ended flat for a second consecutive session on April 30, with benchmarks showing minimal movement amid mixed global cues and cautious investor sentiment. The S&P BSE SENSEX closed at 80,242.24, down 46 points, while the NIFTY50 slipped marginally to 24,334.20. Weakness in PSU banking and media stocks weighed on the market, even as realty stocks saw notable traction. Broader indices underperformed, with small-caps down over 1.7% and mid-caps falling 0.85%, reflecting risk-off sentiment in the broader market.

 Investors remained watchful ahead of key earnings and developments on the geopolitical front. Meanwhile, foreign institutional investors continued to show buying interest, with net equity inflows of ₹2,385.61 crore on Tuesday. Globally, US markets closed higher, buoyed by corporate earnings and easing trade concerns, while Asian markets ended mixed. With markets shut on May 1 for Labour Day, near-term movement will likely hinge on global cues and earnings momentum”