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Time of India
12-06-2025
- Business
- Time of India
Zensar Technologies hit with Rs 1.76 crore tax penalty
Zensar Technologies has been hit with a Rs 1.76 crore tax penalty over service tax return discrepancies. The company, part of the $4.8 billion RPG Group, says the penalty won't impact operations. Tired of too many ads? Remove Ads Pune-based Zensar Technologies has been served a Rs 1.76 crore tax penalty , according to an exchange filing on penalty was imposed due to inconsistencies in service tax returns , the company said in the Tech is part of the $4.8-billion RPG Group conglomerate, with a total services revenue of $591.3 million as on March US is its largest market, accounting for 67.2% of the revenue share. The company said the penalty will have no material impact on its financials, operation or other activities. Zensar Technologies had acquired a 100% membership interest in US-based BridgeView Life Sciences , through its wholly owned subsidiary Zensar Technologies Inc, for a total consideration of $25 million.
Time of India
10-06-2025
- Business
- Time of India
'No MBA, just Indian jugaad': Harsh Goenka is amazed by a Mumbai rickshawallah who earns Rs 8 lakh a month without driving
A LinkedIn post by Bengaluru-based entrepreneur Rahul Rupani has gone viral for claiming that a Mumbai autorickshaw driver earns between Rs 5 lakh and Rs 8 lakh per month by providing an unofficial bag-holding service outside the US Consulate in Mumbai. The post gained further attention after industrialist Harsh Goenka shared it on X (formerly Twitter), calling it an example of 'pure Indian jugaad'. A makeshift solution for visa applicants According to Rupani's LinkedIn post, the driver, identified as Ashok, started charging visa applicants ₹1,000 to keep their bags safe while they entered the US Consulate, where carrying bags or mobile phones is not allowed. 'I was outside the US Consulate this week for my visa appointment, when security told me I couldn't carry my bag inside. No lockers. No suggestions. Just: 'Figure it out.' While I stood clueless on the footpath, an auto driver waved at me: 'Sir, bag de do. Safe rakhunga, mera roz ka hai. Rs 1,000 charge hai (Sir, give me your bag, I will keep it safe, this is my job. I will charge Rs 1,000),'' Rupani wrote. He estimated that Ashok now earns between ₹5 lakh and ₹8 lakh a month through this informal storage service. Harsh Goenka praises driver's business sense The post drew praise from RPG Group Chairman Harsh Goenka. Sharing the story on X, Goenka wrote, 'A Mumbai rickshaw driver saw long visa queues at US consulate—the no-phone, no-bag rule—and had a genius idea. He started charging Rs 1,000 to hold people's bags outside the US Consulate. Today, Ashok earns Rs 8 lakh a month just by offering 'bag-holding' service. No app. No MBA. Just pure Indian jugaad.' Live Events — hvgoenka (@hvgoenka) Reactions on social media vary The story was also picked up by social media platforms such as Humans of Bombay. While some users appreciated the driver's approach, others raised concerns. 'What an innovative idea... With such ideas, there is nothing that you can't achieve,' one user commented. Another user posted, 'How come no competition for him yet? A vanity van offering lounge kind of services along with baggage holding service will be the next level.' However, not all responses were positive. 'I can't believe the people gave their bag containing valuables to a Rikshawalla. Unlike a shopkeeper, a Rikshawalla could elope with the valuables,' one person wrote. Another claimed, 'There is a locker facility inside the consulate. You can put your mobiles and bags in it. I have done this when I was there for a visitor's visa.' Legal and safety concerns surface Many users questioned whether Ashok's business was legal or safe. Some referred to it as 'unethical,' while others asked if any authorities had taken note of it. As of now, ET has not independently verified the claims made by either Rahul Rupani or Harsh Goenka regarding the driver's identity, earnings, or the nature of the service.
India Today
10-06-2025
- Business
- India Today
Harsh Goenka reacts to viral claim of Mumbai auto driver earning Rs 8 lakh monthly
Who needs an MBA when you've got a sharp eye, the right spot, and a dash of Indian jugaad?It's not every day that a local auto driver gets the internet talking and the attention of a billionaire. But a recent post by Bengaluru entrepreneur Rahul Rupani has done just that. The VenueMonk co-founder claimed that a Mumbai auto driver named Ashok is earning anywhere between Rs 5 to Rs 8 lakh a month. The business model? Holding bags for people visiting the US Consulate in the anecdote in a now-viral post on LinkedIn, Rupani said he was left clueless when security at the consulate denied him entry with his bag and gave no suggestions on what to do. As he stood on the footpath wondering what next, a rickshaw driver waved at him, offering to keep the bag 'safely' for a Rs 1,000 fee. With no other option in sight, he agreed, only to realise he had just stumbled upon a hyperlocal hustle that was far from ordinary.'A Mumbai rickshaw driver saw long visa queues at US consulate- the no-phone, no-bag rule- and had a genius idea,' wrote Harsh Goenka, the RPG Group chairman, quoting the post on added, 'He started charging Rs 1,000 to hold people's bags outside the US Consulate. Today, Ashok earns 8 lakh a month just by offering 'bag-holding' service.'advertisement'No app. No MBA. Just pure Indian jugaad,' Goenka said as he concluded his post. He applauded the driver's street-smart instinct that turned a problem into a profitable a look at the post here: However, not everyone seemed impressed. While several users found the story inspiring, others questioned the legality and safety of the operation. 'There's a locker facility inside the consulate,' claimed one user. Another raised a valid concern: 'You're trusting your valuables with a rickshaw driver on the footpath?'There were also suggestions about expanding the idea. Some joked about turning it into a lounge-like van service, while others saw it as a business opportunity waiting to the comments here: could not independently verify the claims made in the original post, but it has certainly sparked a conversation about opportunity, trust, and jugaad-driven or not the numbers add up, auto driver Ashok's story stands as an example that innovation doesn't always need a formal education or a startup pitch, sometimes, all it takes is the ability to see a gap and fill Reel
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Business Standard
06-06-2025
- Business
- Business Standard
Harsh Goenka supports fugitive Vijay Mallya, says justice must be fair
Fugitive Indian businessman Vijay Mallya has claimed that Indian banks have recovered ₹14,100 crore from him. His comments followed a social media post by chairperson of the RPG Group Harsh Goenka, who expressed support for Mallya. The former liquor baron was recently featured on a YouTube podcast, where he presented his version of the story. Goenka took to X to extend support to Mallya and said, 'Vijay Mallya lived the high life, yes. Defaulted, yes. Unlike most others, his ₹9,000+ crore dues are now reportedly settled. Meanwhile, bigger defaulters walk free with much fatter haircuts from banks. If dues remain, the banks should clearly say so. If not, why is he still a political punching bag? Justice must be fair, not selective.' Vijay Mallya lived the high life, yes. Defaulted, yes. Unlike most others, his ₹9,000+ crore dues are now reportedly settled. Meanwhile, bigger defaulters walk free with much fatter haircuts from banks. If dues remain, the banks should clearly say so. If not, why is he still a… — Harsh Goenka (@hvgoenka) June 5, 2025 Thanking Goenka for his speaking in his favour, Mallya too posted a tweet and wrote, 'Thank you, Harsh. The Union Finance Ministry has confirmed in writing that Banks have recovered ₹14,100 crores from me against a DRT judgment debt of ₹6,203 crores. Why the blatant discrimination?' This comes a day after Mallya, in a podcast, opened up about the decline of Kingfisher Airlines, the allegations against him, among other things, for the first time in nine years. He even issued a rare apology to his former employees, while denying any wrongdoing on his part. Mallya, who has been living in the UK since 2016, has been fighting his extradition to India, claiming that the banks have already recovered more than what he owed. Mallya was accused of money laundering and defrauding a consortium of 17 banks, including the State Bank of India and Punjab National Bank, among others. In a submission to the Karnataka High Court earlier this year, the Mallya mentioned that the ₹6,200 crore he owed to Indian banks was recovered multiple times over. He also demanded a comprehensive accounting of the recoveries made from him, United Breweries Holdings Limited (UBHL), and related entities. 'Call me a fugitive, not a thief': Mallya While speaking to Raj Shamani, Mallya pushed back against the perception of him in the public as a criminal. He said, 'Call me a fugitive for not going to India post-March [2016]. I didn't run away, I flew out of India on a pre-scheduled visit. Fair enough, I did not return for reasons that I consider valid.' He further said, 'So if you want to call me a fugitive, go ahead. But where is the chor [thief] coming from? Where is the chori [theft]?'
Time of India
05-06-2025
- Business
- Time of India
KEC International shares in focus after securing orders worth ₹2,211 crore
Shares of KEC International , the RPG Group 's infrastructure arm, will be in focus on Thursday after the company announced fresh orders worth ₹2,211 crore across multiple business segments. According to the company, the Transmission & Distribution (T&D) segment has bagged key orders in the Middle East and the Americas. These include the design, supply, and installation of 380 kV overhead transmission lines in Saudi Arabia, along with the supply of towers, hardware, and poles in the Americas. The Oil & Gas Pipelines business has received its second international order for terminal station works in Africa, supplementing its ongoing pipeline-laying project in the region. Meanwhile, the Cables business secured orders for the supply of various types of cables in India and overseas. "The large order wins in Saudi Arabia have further strengthened our international T&D order book. These wins reaffirm the Middle East and North Africa (MENA) region's strategic importance as a key growth driver for us. "Our subsidiary, SAE Towers, has secured a significant tower supply order in Mexico, reflecting an uptick in the North American T&D market. With these orders, our YTD order intake stands at over ₹4,200 crores, a robust growth of 40 per cent vis-a-vis last year," Vimal Kejriwal, MD & CEO, KEC International, said. KEC International is a global EPC (Engineering, Procurement, and Construction) company with operations in Power T&D, Civil, Transportation, Renewables, Oil & Gas Pipelines, and Cables. It operates in over 110 countries, including through the supply of towers and cables. It is the flagship company of the RPG Group. KEC International shares target price As per Trendlyne data, the average target price of the stock is ₹972, which shows an upside of 10 per cent from the current market prices. The consensus recommendation from 24 analysts for the stock is a 'Buy'. KEC International shares performance On Wednesday, KEC International shares closed at ₹880.4, up 1.2 per cent on the BSE, while the benchmark Sensex surged 0.32 per cent . The stock has declined 27 per cent year-to-date but gained 26 per cent in the last three months. The company's market capitalisation stands at ₹23,437 crore.
