Latest news with #Khetan
Indian Express
23-07-2025
- Health
- Indian Express
Indian teen develops Paraspeak, an AI-powered translator for paralysis patients
'My school had taken me for a field trip to a paralysis care centre, and I saw the difficulties the patients had in communicating with their caretakers and their surroundings. That's where the idea came to me. What if there was a machine learning system which could understand what they're saying?' said 11th-grade student Pranet Khetan. The young innovator has developed a small device that can translate slurred speech. The device, according to Khetan, is India's first open-source Automatic Speech Recognition (ASR) framework specially designed for Hindi dysarthric speech. Talking about the device, Khetan said that what struck him most profoundly was dysarthria – a motor speech disorder affecting patients with paralysis, Parkinson's disease, COPD, and other neurological conditions. 'The advantage with dysarthria is that the speech processing in their brain is completely fine. They know what they want to say, and they understand everything everyone else is saying. It's just that their muscles aren't able to properly produce speech. But the meaning and that intent are still there,' Khetan told Khetan has named the device Paraspeak, and it aims to address a critical gap in the field. In India, while there is no specific data on dysarthria, it is a fairly common speech disorder. The teen said that while there is some research for English dysarthric speech recognition, there are no solutions for Hindi-speaking patients. 'I chose Hindi because it's spoken by over 40 per cent of India. But surprisingly, there is no dataset for Hindi dysarthric speech. No one has ever gone out and collected Hindi dysarthric speech for the purposes of training a model,' he explained. This led to one of the challenging aspects of his project – data collection. As part of his research, the teen visited NGOs and care centres and created the first-ever dataset of Hindi dysarthric speech comprising 42 minutes of recordings from 28 patients. Later, with the help of sophisticated data augmentation techniques, he expanded it to 20 hours of synthetic training data. Even a simple sentence with three or four words would take time and effort for those affected by dysarthria. 'It was really emotional, because what happens with dysarthria is that people aren't able to understand what you say. So eventually they withdraw from their surroundings and stop trying to speak in the first place,' he said. 'Many of these patients were putting in a lot of effort, and there were many cases where I was telling them to stop, the doctor was telling them to stop, but they still kept going. They were really happy to contribute.' Following real-time testing, Khetan filed a patent for the device. Khetan shared that the small device is built on the transformer architecture, the technology that is powering large language models like ChatGPT and Claude. However, for the device, he adapted the architecture for speech recognition. When it comes to function, the system takes slow, unclear speech from dysarthric patients and converts it into clear, understandable speech that can be played aloud. The device comes in a compact form factor, as small as a webcam, that can be worn around the neck. 'All this device needs to operate is an internet connection. It has a long battery life. It can last more than 10 hours at least,' Khetan explained. The patient needs to simply press a button to activate recording, speak into the built-in microphone, and the audio is processed by AI models running on cloud servers before returning clear speech output. What makes Paraspeak unique is its scalability. Unlike existing research solutions that work only with individual patients, Paraspeak is designed to work across multiple speakers with the same underlying system. 'Current research is very limited in this area. Such models only work with one patient. So let's say I take one patient's data, and I train my model on them. It will only work with them. It's not scalable across multiple speakers,' he noted. The speech recognition system stands out for its remarkably low cost of construction. Khetan said that the device costs Rs 2,000 to manufacture, with a monthly subscription fee of around Rs 200. The subscription here is internet data packs from telecom providers. According to the teen, the low cost of the device makes it accessible. Talking about the cost efficiency, Khetan admitted that it was achieved through numerous iterations over a year. The first prototype was bulky with many wires attached; however, he progressively miniaturised it using custom printed circuit board designs. 'I have designed my own custom printed circuit boards. It's almost like how a smartphone would work on the inside. Very compact, custom electronics, which I've tried to design to create this as small as possible,' said Khetan, who is a student of Shiv Nadar School, Gurgaon. As of now Paraspeak isn't just a proof of concept; according to Khetan, it is a working solution that has been tested on real patients. 'I tested it on seven patients. I also recorded videos of three of them with a variety of diseases like congenital disorders, paralysis, Parkinson's, and COPD, and they were content with the fact that the device worked for them,' said Khetan, whose innovation also got recognised at the Regeneron International Science and Engineering Fair (ISEF) 2025, held in Ohio, USA. His work was also recognised at India's IRIS National Fair. As of now dysarthria is present in over 75 per cent of Parkinson's patients and mostly all late-stage Amyotrophic Lateral Sclerosis (ALS) patients. Technologies like Paraspeak can bring hope to many. Khetan shared that as of today there is no market-ready solution for this disorder, making it a unique piece of tech. When asked what excites him most about technology, Khetan said, 'I'm really passionate about assistive technology. There's so much in the technology spectrum which can be applied to assistive technology to tangibly improve the lives of so many people across the world. The best solutions are those with a tangible human impact, where you can instantly see a change in someone's life.' Bijin Jose, an Assistant Editor at Indian Express Online in New Delhi, is a technology journalist with a portfolio spanning various prestigious publications. Starting as a citizen journalist with The Times of India in 2013, he transitioned through roles at India Today Digital and The Economic Times, before finding his niche at The Indian Express. With a BA in English from Maharaja Sayajirao University, Vadodara, and an MA in English Literature, Bijin's expertise extends from crime reporting to cultural features. With a keen interest in closely covering developments in artificial intelligence, Bijin provides nuanced perspectives on its implications for society and beyond. ... Read More
Time of India
17-07-2025
- Business
- Time of India
Alternative investments to gain more traction in India: Experts
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel India's alternative investment market is poised for rapid growth as family offices, corporates and institutional investors increasingly turn to these instruments in search of higher returns with relatively lower risk and volatility compared to equities, according to industry alternative investment is an asset that does not fit into the categories of conventional equity, income or cash. Venture capital , hedge funds, real estate and commodities are examples of alternative investments Speaking at an event organised by Venture Soul Partners and Spur Advisors, President (Finance and Strategy) at Atha Group, Vishal Vithlani, highlighted the sector's explosive global growth, with the private debt market estimated at USD 2.5 trillion, half of India's current the broader growth in this segment, SEBI Whole-Time Member Ananth Narayan said, "Perhaps something that is less noticed is the growth in the Alternate Investment Funds (AIFs), much of which is invested in the unlisted space."As of March 2025, commitments into AIFs stood at Rs 13.5 lakh crore, a growth of over Rs 1.7 lakh crore over the previous year, he said.."Over the past five years, AIF commitments and investments have seen a 30 per cent Compounded Annual Growth Rate, heartening signs for capital formation," Narayan India, the segment is still nascent but is projected to grow nearly tenfold from Rs 25,000-40,000 crore in FY23 to Rs 2 lakh crore by 2027, Vithlani said."This is a market with significant headroom to expand further. Private debt funds globally have consistently outperformed, and we expect similar trends in India," Vithlani noted that the increasing appetite for such funds to finance mergers and acquisitions and buyouts areas where traditional banks remain leaders highlighted the growing appeal of alternative debt funds, which are currently offering yields in the range of 16-18 per cent, significantly higher than traditional fixed income avenues, Ashish Gala of Venture Soul Partners Khetan, Executive Director & CFO of Ramkrishna Forgings , said AIFs, particularly those focused on debt, are maturing in India and offer credible diversification opportunities for family offices and corporates seeking stable cash flows and enhanced portfolio returns."AIFs are not entirely risk-free, but prudent allocation can significantly enhance overall returns," Khetan said, stressing the need for alignment with the investor's philosophy and a thorough understanding of the fund manager's approach before committing Kumar Chajjer, CFO of Graphite India , cautioned that while alternative funds are witnessing strong traction amid rising demand from startups and the wider ecosystem, investors must remain mindful of risks, particularly around collateral quality and the fact that past performance is not necessarily indicative of future outcomes."Alternative funds will play a tremendous role, but due diligence remains key," Chajjer said."The era of 11-17 per cent returns from government securities and bonds is behind us. But the alternative debt space offers superior returns while being less exposed to market volatility," said one of the comparisons with global benchmarks, speakers noted that the S&P 500 delivered 8.4 per cent returns over the past two decades, while US private debt funds returned between 8-13 per cent in USD terms over the same period, roughly 1.6 times the India's macroeconomic environment marked by robust liquidity and a softening interest rate outlook, experts believe the momentum in private debt markets will only institutional investors, including insurance companies, have already begun increasing allocations in this space, they inclusion in global debt indices is also expected to further boost the growth and maturity of this investment class.
Business Insider
20-06-2025
- Business
- Business Insider
Aena SA (0R4Y) Gets a Hold from Citi
In a report released today, Ashish Khetan from Citi reiterated a Hold rating on Aena SA (0R4Y – Research Report), with a price target of €22.00. The company's shares closed yesterday at €22.91. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Khetan is ranked #5923 out of 9595 analysts. Aena SA has an analyst consensus of Hold, with a price target consensus of €223.35. Based on Aena SA's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of €1.32 billion and a net profit of €301.31 million. In comparison, last year the company earned a revenue of €1.22 billion and had a net profit of €261 million
The Hindu
05-06-2025
- Business
- The Hindu
Is IBC an effective resolution tool?
The story so far: More than eight years have passed since the enactment of India's Insolvency and Bankruptcy Code (IBC). According to data from the Insolvency and Bankruptcy Board of India (IBBI), creditors have realised ₹3.89 lakh crore under the framework, with a recovery rate of over 32.8% against admitted claims. Why was the IBC enacted? India enacted the IBC, its first comprehensive bankruptcy law, in 2016 to improve the overall corporate insolvency resolution process. Shifting control from debtors to creditors, the IBC introduced a time-bound resolution mechanism to streamline bankruptcy proceedings, reduce judicial delays, and improve creditor recoveries. According to current provisions, a maximum timeline of 330 days is allowed to find a resolution for a company admitted into the insolvency resolution process. Otherwise, the company goes into liquidation. So far, the Code has rescued 1,194 companies through resolution plans. Is IBC a preferred route for debt recovery? As per the Reserve Bank of India report on Trend and Progress of Banking in India released in December 2024, the IBC emerged as the dominant recovery route, accounting for 48% of all recoveries made by banks followed by the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act (32%), Debt Recovery Tribunals (17%), and Lok Adalats (3%) in the Financial Year 2023-24. The realisation under IBC is more than 170.1% as against the liquidation value. Resolution plans, on average, are yielding 93.41% of the fair value of the Corporate Debtors (CDs), IBBI said. Further, 1,276 cases have been settled through appeal, review, or settlement, and 1,154 cases have been withdrawn under section 12A. The Code has referred 2,758 companies for liquidation, as per IBBI data. Nearly 10 companies are being resolved against five going into liquidation. Has IBC been an effective recovery mechanism? Akshat Khetan, Founder, AU Corporate Advisory and Legal Services, pointed out that IBC has changed the underlying credit culture. As the Supreme Court once observed, 'the defaulter's paradise is lost' and the Code has created a credible threat that ensures timely repayment. On the recovery rate of 32.8%, Mr. Khetan pointed out that it must be interpreted in light of the distressed nature of the assets that come into the IBC process, often after years of erosion. As the National Company Law Appellate Tribunal has rightly remarked in one of its rulings, 'IBC is not a recovery mechanism; it is a resolution framework.' Compared to legacy systems, where recovery rates were often below 20% with timelines extending into decades, a 32.8% realisation is a leap forward, he said. Mr. Khetan also stated that the statistic does not capture qualitative gains, such as job preservation, improved enterprise value, and restored investor confidence. In a framework designed to balance resolution over liquidation, the broader economic impact of IBC far outweighs numerical recovery alone, he said. The provisions of the IBC have prompted debtors to take early action in distress situations, marking a shift in their behaviour. National Company Law Tribunal (NCLT) data show that 30,310 cases were settled prior to admission, covering underlying defaults worth ₹13.78 lakh crore till December 2024. A study by the Indian Institute of Management, Bangalore, submitted to IBBI, said IBC has injected discipline in the credit allocation process and has prompted borrowers to adhere to stipulated payment schedules. The gross non-performing assets of the scheduled commercial banks have declined from a peak of 11.2% in March 2018 to 2.8% in March 2024. A part of that reduction is attributable to resolution processes enabled under IBC, it said. The study also indicated a 3% reduction in the cost of debt for distressed firms post-IBC, compared to non-distressed firms , indicating an improved credit environment for distressed firms. The IBC has had a positive impact on corporate governance, reflected in the increased proportion of independent directors on the boards of companies resolved under the Code. What are the major challenges? In a recent report, India Ratings and Research said that judicial delays and post-resolution uncertainties continue to affect confidence in the IBC framework. Even when resolution applicants are ready and the Committee of Creditors has granted approval, delays at the NCLT continue to push recovery timelines. In several cases, such delays result in extended litigation or failed implementation, increasing the risk of liquidation for a viable asset that requires timely execution, it said. The future insolvencies also raise questions about the Code's readiness to handle non-traditional enterprise defaults. While the IBC is legally broad enough to accommodate various resolution strategies, key commercial elements such as intellectual property valuation, treatment of employee dues, and tech continuity require a clearer treatment under the framework to make it future-ready, India Ratings said. To enhance its effectiveness, India must invest in strengthening tribunal infrastructure, allow for pre-packaged insolvency, and establish jurisprudential guardrails to protect bona fide commercial decisions from post-resolution uncertainty, Mr. Khetan said. While challenges persist, including process delays and recovery rates below expectations, the Code's foundational structure remains sound. As implementation matures and jurisprudence evolves, the IBC is well-positioned to overcome these hurdles and fully realise its transformative potential in India's financial ecosystem, IBBI Chairman Ravi Mital said in the recent quarterly newsletter. Does the SC verdict on Bhushan Steel pose a challenge to IBC? The recent developments in the Bhushan Power and Steel Ltd. case have reignited concerns around the finality of resolution outcomes and the predictability of the framework. While the decision upholds compliance standards, its timing and implications highlight the need for judicial clarity and faster adjudication to sustain investor confidence in the process in the long term, India Ratings said. By questioning a transaction that had been closed and operational for years, it risks unsettling the core principle of commercial certainty. If resolution applicants fear judicial reversals even after significant investment, they may hesitate to bid, undermining the IBC's very purpose. The Bhushan verdict thus underscores the need for legal sanctity once a resolution plan is approved and implemented, Mr. Khetan said. The IBC is not merely a piece of economic legislation, it is the backbone of India's credit ecosystem. Its future lies in striking a fine balance between judicial oversight and economic pragmatism. As India aspires to become a $5 trillion economy, robust and predictable insolvency mechanisms are indispensable. The Code must remain nimble, continually evolving to meet emerging realities while ensuring that commercial wisdom is not second-guessed endlessly, he said. Almost 78% of the ongoing Corporate Insolvency Resolution Process (CIRP) cases have exceeded 270 days, post-admission by the NCLT, as on March 31, 2025, ratings agency ICRA said. A sustained momentum would be needed to minimise haircuts for lenders, which remain high at 67%, it said. Nevertheless, some of the recent judgments reinforce the need for timely and transparent resolution, thereby putting greater onus on the Committee of Creditors (CoC) and NCLT. However, such rulings may also impact investor confidence in stressed assets setting precedents that the decision made by the CoC and the NCLT may be challenged and overturned by the judicial system, thus impacting the effectiveness of the resolution process, ICRA said.
Time of India
03-06-2025
- Business
- Time of India
No product, no pitch, just buzzwords: Indian-origin UC Berkeley grad claims he tricked VCs with fake startup idea
NEW DELHI: An Indian-origin UC Berkeley graduate has sparked a debate about the startup funding ecosystem after claiming he received responses from 27 venture capitalists—four of whom asked for a meeting—by posing as a fake founder with no real product or pitch, but with the right mix of elite buzzwords. Bhavye Khetan, who earned a bachelor's degree in Operations Research and Computer Science from the University of California, Berkeley , said he cold-emailed 34 VCs while pretending to be a founder. In a widely shared post on X, he wrote, 'I made a fake founder persona. No product. No pitch. No deck. Just: Stanford CS, Ex-Palantir, and used the word 'AI' 3 times. Sent cold emails to 34 VCs. 27 replied. 4 asked for a call. This game is rigged in ways most people don't understand. ' — bhavye_khetan (@bhavye_khetan) The post went viral, amassing over 1.2 million views and 22,000 likes, as it resonated with users frustrated by what they see as superficial filters in the venture capital world. Khetan suggested that investor interest is often driven more by pedigree and jargon than by substance. His experiment, he said, showed that what catches the attention of investors isn't always a solid business plan or innovation. 'Who would have thought having shiny logos on resume makes people more likely to wanna talk to you,' one user responded. Khetan's critique adds to ongoing concerns about how early-stage startups are evaluated and the role of branding over actual potential. The incident also sheds light on how tech and venture capital ecosystems can sometimes favour image over idea. Responding to Khetan's post, a user on X said, "Your point may be valid, but your example is useless. 1. People complain VCs don't take cold inbound. So don't complain if they try to. 2. Most VCs take thousands of meetings a year. Taking a meeting isn't a very big sign. 3. My guess is that a Palantir alum is good signal."
