logo
Congress high command has the final word

Congress high command has the final word

After politically low-key Harshvardhan Sapkal was recently appointed the Maharashtra Congress chief, many believed his 'closeness' with the high command may have had a major role in the appointment. Now, the same Sapkal is finding it difficult to place his 'confidants' at key posts in the state Congress unit. He recently decided to remove incumbent Maha Cong social media head Vishal Muttemwar and replace with his 'person of choice'. Here, Sapkal made an error; he went through with the decision without informing the national social media head and state incharge. Therefore, the file for appointing a new social media head is stuck in the corridors of Delhi.
Shinde confidant returns to real estate business
Dy CM Eknath Shinde's 'Man Friday', Thane-based developer Ajay Ashar, has decided to alienate from his political patron and focus on his sprawling real estate business. Ashar apparently had a key role in lifting Shinde to the CM's seat. He was among the main 'negotiators' with the BJP top brass and even shouldered the responsibilities of the high-cost 'takeover' in Maharashtra. As reward, Ashar was appointed as vice-chairman of Maharashtra Institute for Transformation (MITRA) – a financial planning body. But after Shinde was handed the second fiddle in the new govt, Ashar was removed from the role. Thus, Ashar has once again found time for his real estate ventures.
CIDCO's 55th anniversary event goes overboard
Maharashtra government's City and Industrial Development Corporation (CIDCO) recently celebrated its 55th Foundation Day, highlighting the organisation's global standards in urban planning and development. As part of the bash, several CIDCO higher-ups were reportedly provided 55gm gold value coins embossed with the 55th foundation day mark. The buzz was that these heavy coins were put on the CIDCO exchequer under different heads. Unfortunately, the CIDCO, in charge of the Navi Mumbai airport, is struggling to pay the salary of its own employees. The cash-rich board is allegedly being looted by its top officers by inflating local land prices.
Sudhir Suryawanshi
Our correspondent in Maharashtra
suryawanshi.sudhir@gmail.com
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Foxconn Q2 Update: Chipmaker sees 16% jump in revenue on AI product demand, flags THESE risks going ahead
Foxconn Q2 Update: Chipmaker sees 16% jump in revenue on AI product demand, flags THESE risks going ahead

Mint

time34 minutes ago

  • Mint

Foxconn Q2 Update: Chipmaker sees 16% jump in revenue on AI product demand, flags THESE risks going ahead

Foxconn Q2 update: Taiwan-based Foxconn or Hon Hai Precision Industry Co earned record revenue in the second quarter, driven by high demand for artificial intelligence products, while also warning about potential challenges from geopolitical issues and exchange rate fluctuations, reported news agency Reuters. The revenue of the world's largest contract electronics maker has surged 15.82% on a year-on-year basis to T$1.79 trillion, according to a company statement, cited by the agency. The company beat the T$1.7896 trillion LSEG SmartEstimate. Foxconn, Apple iPhones' largest assembler in the world and leading clients such as chipmaker Nvidia, stated that rising demand for AI-driven products has contributed to strong revenue growth for its cloud and networking products division. However, smart consumer electronics, including iPhones, reported 'flattish' year-on-year revenue growth impacted by exchange rates, the agency quoted the company. Foxconn's revenue for June jumped 10.09% year-on-year to T$540.237 billion, a record high for the month. Foxconn stated it expects growth this quarter compared to the previous three months and the same period last year, but also warned about possible risks to growth. "The impact of evolving global political and economic conditions and exchange rate changes will need continued close monitoring," Reuters quoted Foxconn. Notably, US President Donald Trump announced he had signed letters to 12 countries, detailing the tariffs they would face on exports to the US. These "take it or leave it" offers are scheduled to be sent out on Monday. Foxconn operates the world's largest iPhone manufacturing plant in Zhengzhou, China. The tech giant has not released numerical forecasts. It will report full second-quarter earnings on August 14. Foxconn's shares surged 76% last year, significantly outpacing the Taiwan market's 28.5% increase. However, they have decreased by 12.5% so far this year, due to broader pressures on tech stocks amid Trump's trade policies, the report said.

UK arms dealer Sanjay Bhandari declared fugitive by court in money laundering case
UK arms dealer Sanjay Bhandari declared fugitive by court in money laundering case

India Today

time39 minutes ago

  • India Today

UK arms dealer Sanjay Bhandari declared fugitive by court in money laundering case

A Delhi court has declared UK-based arms dealer and defence consultant Sanjay Bhandari a Fugitive Economic Offender (FEO) under the Fugitive Economic Offenders Act, 2018. The declaration comes on the basis of a plea filed by the Enforcement Directorate (ED) in connection with a high-stakes black money and money laundering opposed the ED's application, arguing that his continued stay in the United Kingdom was lawful and protected, citing a decision by the London High Court that denied India's extradition request. His legal team contended that in light of this ruling, he could not be classified as a fugitive under Indian law. However, the Delhi court rejected his arguments and ruled in favour of the ED, paving the way for the confiscation of his assets in India and a controversial figure in India's defence and arms lobby circles, is also accused in a money laundering case involving Robert Vadra, the son-in-law of Congress leader Sonia Gandhi. The case pertains to alleged kickbacks and illicit overseas property transactions, which the ED claims were part of a complex web of financial crime. He lived in India till 2015 and allegedly fled to England after legal actions were initiated against him for owing a large amount of Income Tax. Bhandari first came under the scanner in 2016 after Income Tax raids at his premises revealed classified defence documents and evidence of undisclosed foreign assets. Subsequent probes linked him to a series of offshore entities and unaccounted wealth, with alleged connections to defence procurement deals. He reportedly acted as a middleman and consultant for various foreign arms manufacturers seeking contracts with the Indian the court now declaring him a fugitive economic offender, the ED is expected to intensify efforts to attach and seize Bhandari's known properties and financial interests. The ruling is also likely to strengthen India's diplomatic and legal arguments in any future appeal or extradition review proceedings in the UK.- Ends

From hired to fired, tech founder reveals how Soham Parekh operated and hints at how he fooled companies
From hired to fired, tech founder reveals how Soham Parekh operated and hints at how he fooled companies

India Today

time39 minutes ago

  • India Today

From hired to fired, tech founder reveals how Soham Parekh operated and hints at how he fooled companies

In a bizarre saga that could be ripped straight from a tech satire, Soham Parekh, an India-based software engineer, has stunned Silicon Valley after admitting to secretly working full-time for dozens of US startups, at the same time. What began as whispers of moonlighting quickly exploded into a full-blown controversy after revelations surfaced that Parekh was juggling roles at up to 34 different companies, sparking outrage, disbelief, and a flurry of story broke when Suhail Doshi, founder and former CEO of Mixpanel, posted on X (formerly Twitter), accusing Parekh of deceiving several Y Combinator-backed startups. Doshi claimed he had fired Parekh within a week of uncovering the truth. As the thread gained traction, more founders chimed in, admitting they had either hired or interviewed Parekh, only to discover he was already employed elsewhere. One such founder, Dhruv Amin, co-founder of AI startup Create, shared his experience with Parekh in an X thread that quickly went viral. Dhruv explained that Soham had joined his team in San Francisco as engineer number five, on the back of a recruiter's recommendation and an impressive pair-programming interview. 'Yes, we hired him He was eager and crushed our in-person pair programming onsite. I believe he's actually a good engineer,' Dhruv wrote. But the enthusiasm quickly turned into accepting the job, Parekh said he'd be away in New York and would begin a week later. When Monday rolled around, he texted Dhruv excitedly, only to call in sick on his first day. 'He said he'd onboard from home. Gave an address to ship the laptop,' Dhruv there, things only got weirder. Parekh missed meetings, delayed deliverables, and made excuses. It all unravelled when Dhruv's team discovered he was actively working at another company, Sync, at the same time.'When we called Soham up, he denied it to the end. Said Sync guys were just friends,' Dhruv recalled. But the real kicker came when Sync published an 'Employee of the Month' video, featuring none other than Soham Parekh contract was swiftly terminated. 'He dipped,' Dhruv said, assuming he was just a young engineer who had made a bad call. But when the wider story broke, Dhruv's embarrassment turned to amazement. 'Then I was pissed. Then impressed Still not sure how he pulled it off for so long with in-person startups and long hours, but appreciated the hustle. Hope he had a good reason. Feels like a stressful way to make money.'Soham Parekh's side of the storyadvertisementAs the tech world demanded answers, Parekh finally spoke out in an interview on The Backchannel podcast (TBPN), confirming what many had suspected. 'It is true,' he said, calmly owning up to the deception. 'I'm not proud of what I've done. But, you know, financial circumstances, essentially. No one really likes to work 140 hours a week, right? But I had to do this out of necessity. I was in extremely dire financial circumstances.'He added that he completed all the work himself -- no shortcuts, no AI, no external help -- and maintained that his output met claimed the hustle began in 2022, after postponing graduate school and enrolling in an online programme from Georgia Tech. But that detail raised more questions when a Georgia Tech spokesperson confirmed there was no record of his enrolment, casting further doubt on the timeline and fuelling speculation around how far the deception may have the storm, Parekh has already landed on his feet. He's now joined a San Francisco-based AI startup named Darwin, and has promised to leave his multi-job days behind. 'I won't be taking up any more additional jobs,' he his story has raised ethical questions about moonlighting and transparency in remote hiring, it's also exposed deeper vulnerabilities in the startup hiring culture, especially in the fast-moving world of venture-backed tech, where background checks are often minimal and pressure to scale is high. Love him or loathe him, Soham Parekh's name is now etched into Silicon Valley lore.- Ends

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store