Posts Tagged ‘Hyderabad’
Written by admin on 17 May 2012
Hyderabad, May 17 (IANS) The Indian School of Business (ISB) Thursday signed a Memorandum of Understanding (MoU) with the Bahwan CyberTek (BCT) Group of Oman, to provide executive education courses in the Middle East.
Under the agreement, the Centre for Executive Education (CEE) at ISB would deliver executive education courses focused at grooming senior and middle management in the Middle East.
Ramanathan Hariharan, senior director, CEE, ISB, and S. Durgaprasad, director and CEO, Bahwan CyberTek Group (BCT), signed the MoU at the ISB campus here.
“There is tremendous focus from various governments in the Middle East to look beyond oil. They are looking at creating a knowledge economy. ISB being a leader in executive education, their knowledge and their experience can come handy to build the community in that part of the world,” Durgaprasad told IANS.
Added Hariharan: “They are trying to create a knowledge-driven economy which means exposing citizens to new business models, new management practices.”
BCT, an associate of the Suhail Bahwan Group, one of Oman’s foremost business houses, will focus on industry verticals like banking, financial services, government, energy utility industry and infrastructure. The executive education programmes will cater to both the citizens of Oman and expatriates.
To start with, the programme will be delivered in Oman from September this year for 50 to 100 people in the first year. BCT plans to expand this to the UAE, Qatar, Egypt and other countries in the region.
The MoU with Bahwan comes a few weeks after the ISB signed a similar agreement with the Institute of Business Administration (IBA), Karachi.
ISB will focus on the design and delivery of the programmes, which will be conducted by ISB’s globally renowned faculty.
The CEE, which offers open and custom designed programmes, is also looking at creating case studies relevant to the region.
The programmes will be delivered in Oman. “We are also looking at options where the students will be exposed to practices not just in Oman but growing economies like India. So one leg of the programmes will be in Oman and another possibly in India. Third leg could be in US, Europe or China,” he said.
BCT, an information technology, products and services company, hopes the spin-off would be multi-fold.
The $110 million company, which operates in four continents and deliver solutions in 20 countries, expects the ISB programmes would meet the internal needs of the 1,500-member organization.
“We will definitely lean on their knowledge. If we are able to contribute to the knowledge economy we stand at a strategic position of being respected. It will have its impact. The outlook of people will change towards a more modern management structure,” said Durgaprasad.
BCT, which has its centre of excellence in Chennai, has India as a hub to create knowledge for its products. It also had offices in US, Oman, UAE, Egypt, Singapore and Brunei.
BCT, which also works with government of Oman, provides IT, ITes training to create jobs for people in Oman. It also deliver payment solution for citizen services in Oman, Dubai and Egypt.
“We have also got contract for spreading digital literacy. We have trained 13,000 citizens and will be training 30,000 by the end of the programme,” he said.
Tags: Hyderabad
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Written by admin on 16 May 2012
Hyderabad, May 16 (IANS) A CBI court Wednesday sent leading Andhra Pradesh industrialist Nimmagadda Prasad and bureaucrat K.V. Brahmananda Reddy to judicial custody till May 30 in the case relating to alleged illegal assets of YSR Congress Party leader Y.S. Jaganmohan Reddy.
The CBI, which arrested the duo Tuesday night, produced them before the CBI court. They were later shifted to Chanchalguda Central Jail.
The agency also moved a petition seeking 14-day custody of the accused for further interrogation. The court posted the matter for hearing Thursday.
Meanwhile, the CBI, in its remand report, alleged that Prasad invested Rs.884 crore in the companies of Jagan Reddy.
It informed the court that Prasad invested Rs.505 crore in Jagan’s businesses before the agreement over Vadrarevu and Nizampatnam Port and Industrial Corridor (Vanpic).
The CBI said it had to arrest them to prevent them from tampering with the evidence.
Prasad, popularly known as Matrix Prasad in industrial circles, is the 12th accused in the First Information Report (FIR) registered against Jagan and 72 others in August 2011.
According to the CBI, Jagan allegedly conspired with his father and then chief minister Y.S. Rajasekhara Reddy to extend several concessions to Prasad’s firms in a quid pro quo for the investments he made into Jagan’s business.
Prasad’s Matrix Enport and the government of Ras Al Khaimah (UAE) are the two promoters of Vanpic, a proposed world-class port and integrated industrial cluster which was allotted 15,500 acres of land by Rajasekhara Reddy’s government.
Brahmananda Reddy, the then special secretary, infrastructure and investment, was arrested for playing a key role in issuing government orders relating to the land allotments.
Both Prasad and Brahmananda Reddy have been charged with cheating, criminal conspiracy, criminal breach of trust and falsification of accounts.
The CBI has filed three charge sheets in the case and is likely to file four to five more.
Tags: Hyderabad
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Written by admin on 16 May 2012
Hyderabad, May 16 (IANS) High flying Andhra Pradesh industrialist Nimmagadda Prasad has been arrested for alleged benefits received during the rule of late chief minister Y.S. Rajasekhara Reddy in return for the massive investments he made in his son’s businesses.
Prasad, popularly known as Matrix Prasad in the industrial circles after his pharmaceutical firm Matrix laboratories, was arrested by the Central Bureau of Investigation (CBI) late Tuesday in connection with the alleged illegal assets case of Y.S. Jaganmohan Reddy.
The arrest comes six months after Koneru Prasad, who had immense clout in Dubai and other emirates, was arrested in the Emaar-APIIC township scam.
Nimmagadda Prasad, 51 and son of an army officer, had allegedly invested Rs.504 crore in the companies of the MP from Kadapa.
The CBI is probing the allotment of 15,500 acres of land by the Rajasekhara Reddy government to Vadrarevu and Nizampatnam Port & Industrial Corridor (Vanpic), a proposed world-class port and an integrated industrial cluster. Prasad’s Matrix Enport and the government of Ras Al Khaimah (UAE) are the two promoters of Vanpic.
The CBI believes Gilchrist Investments Pvt Ltd, Alpha Villas Pvt Ltd and Alpha Avenues Pvt Ltd, all companies floated by Prasad, made the huge investments into Jaganmohan Reddy’s firms as a quid pro quo for the government land allotted for the Vanpic project.
Coming from an humble background, Prasad began his business career as a sales officer in a multinational company in 1989 and went on to build a business empire spanning sectors like pharma, software, infrastructure and media.
Prasad’s meteoric rise brought him closer to both former chief ministers N. Chandrababu Naidu and Rajasekhara Reddy.
Once considered as the man with the Midas touch, he is a member of the executive board of the prestigious Indian School of Business. He is also on the boards of Sakshi newspapers, television channel and Bharati Cements owned by Jagan and also on boards of Care Hospitals and Asian Institute of Gastroenterology. He also has stakes in MAA Television.
Tags: Hyderabad
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Written by admin on 16 May 2012
Hyderabad, May 16 (IANS) The Central Bureau of Investigation (CBI) Tuesday night arrested prominent industrialist Nimmagadda Prasad and Indian Revenue Services (IRS) officer Brahmananda Reddy in the case relating to alleged illegal assets of YSR Congress Party leader Y.S. Jaganmohan Reddy.
The arrests were made after the CBI officials questioned them throughout the day. CBI Joint Director V.V. Lakshminarayana told reporters that they would be produced in the court Wednesday.
The official said they were arrested on the basis of evidence found against them in the investigation into concessions given to Vadrarevu and Nizampatnam Port and Industrial Corridor (VANPIC). “We need to interrogate them further,” he said.
Prasad, popularly known as Matrix Prasad in the industrial circles, is the 12th accused in the case.
The CBI officials also raided the residence of Brahmananda Reddy, who was special secretary, infrastructure and investment in the government of Y.S. Rajasekhara Reddy. He allegedly issued government orders benefiting companies which invested in the businesses of Rajasekhara Reddy’s son Y.S. Jaganmohan Reddy.
The second and third accused to be arrested in the case, Prasad and Brahmananda Reddy have been charged with cheating, criminal conspiracy, criminal breach of trust and falsification of accounts.
Prasad allegedly invested Rs.504 crore in the companies of Jaganmohan Reddy in return for the favours he reportedly received from his father and then chief minister Y.S. Rajasekhara Reddy.
Prasad’s Matrix Enport is one of the two promoters of VANPIC. The government of Rajasekhara Reddy had allotted 5,500 acres of land to VANPIC in Prakasam and Guntur districts.
The CBI made the arrests as it is gearing up to file fourth charge sheet in Jaganmohan’s disproportionate assets case. Prasad and Brahmananda Reddy are likely to figure in the charge sheet.
Tags: Hyderabad
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Written by admin on 15 May 2012
Hyderabad, May 15 (IANS) The Central Bureau of Investigation (CBI) Tuesday arrested industrialist Nimmagadda Prasad in the case relating to alleged illegal assets of YSR Congress Party leader Y.S. Jaganmohan Reddy.
The arrest was made Monday night after the CBI officials questioned him throughout the day. The CBI sources said he would be brought before a magistrate Wednesday.
Prasad, popularly known as Matrix Prasad in the industrial circles, is the 12th accused in the case.
The second accused to be arrested in the case, Prasad has been charged with cheating, criminal conspiracy, criminal breach of trust and falsification of accounts.
Prasad allegedly invested Rs.504 crore in the companies of Jaganmohan Reddy in return for the favors he reportedly received from his father and then chief minister Y.S. Rajasekhara Reddy.
Prasad’s Matrix Enport is one of the two promoters of Vadrarevu and Nizampatnam Port & Industrial Corridor (Vanpic). The government of Rajasekhara Reddy had allotted 5,500 acres of land to Vanpic in Prakasam and Guntur districts.
The CBI made the arrest as it is gearing up to file fourth charge sheet in Jaganmohan’s disproportionate assets case. Prasad is likely to figure in the charge sheet.
Tags: Hyderabad
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Written by admin on 15 May 2012
Hyderabad, May 15 (IANS) The YSR Congress Party Tuesday demanded a probe by the Central Bureau of Investigation (CBI) into the huge amount of money seized at the house of Congress MP K. Chiranjeevi’s daughter’s house in Chennai.
The party alleged that there was a quid pro quo in the merger of Chiranjeevi’s Praja Rajyam Party (PRP) with Congress.
“The finding of over Rs.35 crore in the house of Chiranjeevi’s daughter’s house needs to be probed thoroughly and the Rajya Sabha member should volunteer for a CBI inquiry,” YSR Congress party spokesperson Vasireddy Padma told reporters here.
“We contend that this amount and much more, stashed away elsewhere, could be the return favour PRP got for merging with Congress,” she said.
The YSR Congress Party suspect that Chiranjeevi’s sudden tour to Delhi and meeting with central minister Vayalar Ravi was a cover-up bid.
“Some of the Congress leaders trying to cover up the incident, terming it as insignificant one, also paves way for the suspicion of a secret deal PRP had for merging with Congress. At least the pact and its terms should be made public,” she added.
Tags: Hyderabad
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