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Indian Express
2 days ago
- Politics
- Indian Express
‘Rules of game can't be changed once it's begun': Punjab and Haryana HC raps Haryana for changing recruitment rules mid-way
The Punjab and Haryana High Court Thursday struck down Haryana's retrospective application of amended recruitment rules, holding that it violated the fundamental rights of job applicants. It also imposed a cost of Rs 50,000 on the state for what it called a deliberate attempt to undo legitimate claims. Both appeals challenged a common order passed by a single judge on April 18, 2022, in two Civil Writ Petitions. The petitioners, Abhishek Verma and Ankur Mittal, had alleged that they were wrongfully denied appointments to the Haryana Civil Services and Haryana Police Services (HCS/HPS) despite meeting the criteria outlined in the Haryana Outstanding Sportspersons (Recruitment & Conditions of Service) Rules, 2018. In its judgment pronounced on July 17, the Division Bench of Chief Justice Sheel Nagu and Justice Sumeet Goel observed, 'The act of the State in making amendment on 09.03.2019 to have effect retrospectively from 05.09.2018 appears to be a deliberate act to scuttle the legitimate claim of the petitioners (respondents herein), which had matured under the 2018 Rules.' The bench held that Haryana's move violated applicants' fundamental right to fair consideration for public employment. Reaffirming that 'rules of the game cannot be changed once the game has begun', the court said recruitment processes must remain transparent and equitable. The bench also remarked, 'This litigation ought not to have arisen in the very first place had the State of Haryana and its functionaries obtained proper legal advice. The action of the appellants herein appears to be merely to scuttle the genuine claim of the petitioners. Thus the appellant-State of Haryana is liable to be saddled with cost of Rs.50,000/- out of which Rs.10,000/- each shall be paid to both the petitioners, namely, Abhishek Verma and Ankur Mittal and the remaining amount of Rs.30,000/- shall be credited in the account of Punjab & Haryana Bar Association, Chandigarh for having wasted precious time of this Court in pursuing this avoidable piece of litigation.' The court emphasised that altering recruitment rules once the process has begun undermines the principles of fairness and transparency. Citing the Supreme Court's ruling in K Manjusree vs State of Andhra Pradesh (2008), the court said, 'Introduction of the requirement of minimum marks for interview, after the entire selection process… was completed, would amount to changing the rules of the game after the game was played, which is clearly impermissible.' This view was echoed by a Constitutional Bench in Tej Prakash Pathak vs Rajasthan High Court (2023), which held that recruitment benchmarks cannot be altered mid-process. The case arose from a Haryana Government amendment to recruitment rules notified on March 9, 2019, but made effective retrospectively from September 5, 2018. The petitioners, who had applied under the 2018 Rules, argued that their right to be considered under those rules had crystallised at the time of application. The retrospective change, they contended, unfairly altered eligibility criteria, wiping out their valid claims.
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Business Standard
18-06-2025
- Business
- Business Standard
Physis Capital raises ₹200 crore, eyes 15+ startup deals by mid-2025
Growth-stage venture fund Physis Capital on Wednesday announced that it has raised over ₹200 crore for its maiden fund. The fund, established by Vinay Bansal, Ankur Mittal, and Mitesh Shah of Inflection Point Ventures, plans to raise the remaining capital over the next six to nine months. The fund has attracted investors including SUD Life — a joint venture between Bank of India, Union Bank of India, and Japan's Dai-ichi Life Holdings. Other notable backers include Narayana Nethralaya, a NABH-accredited eye care institution in Bengaluru, and family offices such as Haldiram's and Lotus Holdings. Physis Capital plans to build a portfolio of over 15 companies by the first half of next year and aims to invest in high-impact, tech-driven startups in the pre-Series A to Series B stages. So far, the firm has eight deals in the pipeline and is preparing to issue term sheets for at least four of them in the coming months. These investments are expected to close within the next two quarters. The pipeline spans diverse sectors, including health-tech, fintech, consumer brands, and quick commerce, the company said in a statement. The cheque sizes for these companies will range between $1 million and $1.5 million, with a potential top-up of up to $4 million in high-performing portfolio startups. The firm has invested in three companies to date — Ben & Gaws, CTPL, and STAGE. Its most recent investment was in STAGE, a hyperlocal OTT platform creating content in Indian dialects such as Haryanvi, Rajasthani, and Bhojpuri. Vinay Bansal, general partner at the firm, said: 'With strong support from marquee investors and a clear focus on founder-first investing, Physis Capital is well-positioned to back the next wave of high-impact startups in India — partnering with bold, ambitious teams to drive long-term, sustainable growth. We are on track to build a portfolio of 15+ companies by the first half of next year.'
Entrepreneur
08-05-2025
- Business
- Entrepreneur
Feline Spirits Raises ₹5.2 Cr in Pre-Series A Led by Inflection Point Ventures
Feline Spirits is currently operational across 8 states and union territories, with a diverse portfolio and having served more than 20 lakh customer base. The brand said it continues to expand strategically across both private and government-owned markets. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Feline Spirits, a homegrown craft alcoholic beverage startup, has raised INR 5.2 crore led by Inflection Point Ventures (IPV). The company said that the funds will be utilised towards fuel portfolio expansion and support the company's entry into new geographies. Ankur Mittal, Co-Founder- IPV, says, "India's alcohol market has long been split between low-quality mass products and overpriced international brands. Feline Spirits bridges this gap by offering premium, handcrafted liquor that's high in quality, thoughtfully designed, and reasonably priced. Feline is setting a new standard, where well-made, great-looking spirits are no longer a luxury, but the norm." Feline Spirits is currently operational across 8 states and union territories, with a diverse portfolio and having served more than 20 lakh customer base. The brand said it continues to expand strategically across both private and government-owned markets. According to the company, it recorded a monthly top-line of over 2 lakh bottles (10,303 cases) with revenue crossing INR 11 crore in GY23-24. In FY24–25, the company said it sold over 19,751 cases in FY23, generating a sales value of over INR 25 crore. "At Feline Spirits, our vision has always been to redefine India's alcohol industry by crafting high-quality, premium spirits. Our partnership with IPV has provided us with the right strategic backing to accelerate our expansion and establish Feline Spirits as a formidable player in the market. As we expand our footprint across the country and strengthen our partnerships, we're excited to lead a transformation in the way consumers engage with and enjoy craft alcohol," said Prabhat Sharma, CEO of Feline Spirits.
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Business Standard
05-05-2025
- Business
- Business Standard
Support hubs to the core: GCCs take lead in business outcomes, leadership
US home improvement retailer Lowe's elevated Ankur Mittal, its managing director of India operations, as also the chief technology officer last year. In the latest role, he is responsible for the omnichannel platforms, enterprise architecture strategy across a portfolio of applications and capabilities, corporate services technology, IT operations and infrastructure engineering. The North Carolina-headquartered Lowe's is not the only one witnessing a shift in the operations and relevance of global capability centres (GCC). Navneet Kapoor of Maersk joined the Danish shipping company as the head of its shared services centre in India before taking on the role of an executive vice president and chief technology and transformation officer (CTIO). And, Ashish Grover, chief information officer of Chilean retailer Falabella, was the managing director of the company's India technology centre before taking over the larger role in 2021 and relocating to Santiago. Lalit Ahuja, co-founder and chief executive officer of ANSR, which helps multinationals set up GCCs in India, explained the phenomenon. GCCs have morphed into the main enterprises, become contextually empowered, driving business outcomes and no longer viewed as cost centres unlike a decade ago, Ahuja said. As the centres matured, so did the senior executives who have emerged as enterprise leaders, he added. In fact, India's GCCs are rapidly evolving from support hubs into strategic nerve centres, shaping the next generation of enterprise leaders. As they take on critical roles in operations, lead large-scale projects, and drive decision-making for their parent organisations, GCCs are producing CXO-level talent with increasing frequency. With a strong focus on advanced technologies—AI, machine learning, and GenAI—GCCs have become the proving ground for global CIOs and CTOs. And the transformation from cost centres to core enterprise engines is underway, executives and analysts pointed out. That has resulted in GCC site leaders being elevated to roles such as global chief information officers and chief technology officers even as they continue to be based, in many cases, out of India. It indicates how vital these centres have become to the parent company's operations, according to people tracking this segment. 'One of my advantages was that I started as the chief technology officer for the e-commerce division which was a global role,'' said Grover, CIO of Falabella. ''I was also the MD which meant setting up the India technology operations. That means being on the ground and getting to know the broader domain of the company and being exposed to the bigger picture,' he said. Since Grover was heading the e-commerce division, he tried to build a strong impactful team in India and Chile, working across cultures that he says put him in good stead now when he works from the headquarters. Mittal of Lowe's shared his experience to emphasise the empowering of GCCs and its executives. 'Prior to the pandemic, we did not have self-check-out at many stores though it still contributed to 25 per cent of the transactions. We built a team in India to focus on this, started with small proof of concepts and eventually got rolled out to all stores currently. That now makes up about 65 per cent of the transactions with an error rate of a tenth of what it was previously.'
Economic Times
30-04-2025
- Business
- Economic Times
This Akshaya Tritiya, know these great deals online, and make smart use of your credit card to get gold at lower rates
JioFinance, BhararPe offer free gold on digital gold purchases Live Events HDFC Smartbuy, ICICI iShop and similar platforms making gold purchases more rewarding On the occasion of Akshaya Tritiya, most of us are looking to buy gold, as is customary. It is commonly believed that gold bought on Akshaya Tritiya ever appreciates in value and brings immense wealth and prosperity to the with gold prices teetering on the Rs 1 lakh mark per 10 grams of 24-carat gold, so many may be hesitating in buying gold at this elevated level. However, multiple online platforms, such as Jio and Amazon Pay, have come out with many offers to help you buy gold while also earning handsome cashbacks, rewards, and sometimes, even more gold in the on to know more about such offers and why buying gold online and using your credit card might help you save more. What's more, you could even get more gold while buying digital buying digital gold worth Rs 1,000 to Rs 9,999 via the JioFinance App between April 29 and May 5, 2025, will get 1% of your digital gold purchase value as free gold using the code JIOGOLD. If you make purchases over Rs 10,000, your JioGold account will be credited with 2% of your purchase value as free gold. For this, users can use the promo code on a maximum of 10 purchases per user during the offer period, the maximum value of free gold one buyer can get herein is capped at Rs 21,000. Note that you can only avail this offer on lumpsum gold purchases, and not gold SIPs. The reward gold will be credited to your JioGold account within 3 days of the BharatPe has also launched Gold Mohotsav, which will be valid till tomorrow. Customers investing Rs 5,000 or more in digital gold in a single transaction will get 1% additional gold credited to their this festive offer, anyone who invests INR 5,000 or more in 24k digital gold in a single transaction will receive an additional 1% gold, credited directly to their May 1, 2025, Amazon Pay is also offering a 1% cashback (maximum of up to Rs 1,000) on all digital gold purchased via Amazon. However, remember that the minimum value of your digital gold purchase should be Rs 100, and you should only make the payment via Amazon Pay just on these applications, but you can also use your credit cards smartly to buy gold at lower prices through platforms such as Myntra, Amazon, and Ankur Mittal, founder, CardInsider, 'The Swiggy HDFC Credit Card offers up to 10% cashback, saving users up to Rs 1,500 (the maximum cashback limit for Swiggy spends), making gold purchases more rewarding than physical stores.'Similarly, the Titan SBI credit card offers a 5% cashback on spending made at jewellery outlets such as Mia, CaratLane, or Zoya. However, this is subject to a quarterly cap of Rs 10,000.'Some credit cards focus more on instant cashback and discounts, while others give better value through reward points. Platforms like HDFC SmartBuy or ICICI iShop allow users to earn extra reward points on voucher purchases, which can later be used to buy gold online through sites like Amazon or Myntra,' he further HDFC Bank Tata Neu Infinity Credit Card offers up to 7% cashback in the form of Neucoins on spends made across multiple brands, one of which is Tanishq. These neucoins (1 neucoin = Rs 1) can further be used to avail discounts in the future across various other if used smartly, certain credit cards can help you save much more than you ever would with an offline store, whether through instant offers or by stacking reward points through voucher purchases and using them instance, if you buy an Amazon Pay Gift Card & Gift Voucher worth Rs 10,000 via HDFC's SmartBuy using an Infinia credit card, you can get the voucher at just Rs 8,350, since your reward points will be worth Rs 1,650. You can further use this voucher to buy gold online.
