Choksi trial adjourned as his health declines

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New Delhi, June 15 | The trial of the fugitive businessman Mehul Choksi, who is wanted in India in the Rs 13,500 crore Punjab National Bank (PNB) fraud case has been adjourned to June 25 due to decline in his health condition, local media reported.

The trial was expected to begin in the Roseau Magistrate court on Monday, Dominica News Online, a news outlet in Caribbean island said.

At the hearing, two of Dominica’s top criminal attorneys were added to Choksi’s legal team for this matter. Zena Moore-Dyer and her daughter Gina Dyer-Munro have joined Julien Prevost, Wayne Norde and Cara Shillingford-Marsh.

The defence attorneys presented to the court a medical document which stated that Choksi is incapacitated and as a result, he was unable to attend the proceeding, it said.

It further said that the prosecution team also saw the addition of Harpreet Singh Giani, an Indian-born lawyer based in London, who said he appears as a consultant to the prosecution on the matter.

The States case is led by the acting Director of Public Prosecution (DPP) Sherma Dalrymple, with assistance from attorney-at-law Lennox Lawrence, Jodie Luke and Heather Felix Evans.

On June 2, the 62-year-old diamantaire pleaded not guilty to illegal entry in Dominica.

According to the charges of the police, Choksi entered Dominica illegally on May 24, 2021, at Toucari Beach. However his attorneys alleged that he was kidnapped, beaten and unwillingly brought to Dominica from Antigua.

Choksi is remanded in police custody at the Dominica China Friendship Hospital (DCFH) where he has been a patient since May 29, 2021.

On June 11, a high court judge denied bail to the alleged fugitive on the basis that he is a “flight risk.”

Choksi had gone missing on May 23 from Antigua sparking a massive manhunt. He was reportedly captured in Dominica.

On June 8, the Indian authorities described Choksi as an Indian citizen in its affidavit filed in Dominican High Court, saying that his application for renunciation of citizenship was “rejected”.

It also noted that he is therefore erroneously claiming renunciation of citizenship under the Citizenship Act, 1955.

He had taken the citizenship of Antigua in 2017 and left India on January 4, 2018 days before the bank loan fraud case came to light.

Source: IANS

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Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal

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