KM Birla didn’t disclose offer to sell his stake to govt, Voda Idea shareholder complains to SEBI

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New Delhi, Sep 14 | A shareholder of Vodafone Idea, Satya Prakash Sinha, has complained to SEBI that on June 7, when Kumar Mangalam Birla, the Chairman of Vodafone Idea Limited, offered his stake to the government of India or any company approved by the government for free, the information was not shared with the stock exchanges.

The matter came to light on August 2 when it was reported by the media. The stock exchanges had sought clarification from Vodafone Idea on August 4.

KM Birla resigned as the Chairman of Vodafone Idea on August 4, after stock exchanges sought the clarification, the complaint said.

The stock exchanges again asked for clarification on August 5. Vodafone Idea responded on August 5 that the matter relates to the promoters and the company is not aware of the same.

Sinha said the share price of the company, which stood at Rs 10.10 on June 7, dropped to Rs 6 on August 4 — over 40 per cent fall in just two months.

“Not sharing this price-sensitive information by the chairman and the company with the stock exchanges in compliance with the listing agreement has caused great loss to retail shareholders like me,” Sinha said in his complaint.

Birla had written to Rajiv Gauba, Cabinet Secretary, government of India, offering his stake in the company to the government or any government/Indian company. At that time, Vodafone Idea share price was at Rs 10.10.

“It is submitted that the company (which includes its chairman) being a listed entity has not made the appropriate and necessary disclosure of the aforesaid events and/or information despite the same being a material information/event, within the prescribed time of 24 hours from the occurrence of the aforesaid events on June 7 and continues to be in default as on the date of making of this complaint,” the shareholder said.

“In the above background, it is prayed that the Securities and Exchange Board of India initiates appropriate proceedings against the company, its directors and its key management personal under the Securities and Exchange Board of India Act, 1992 read with rules and regulations notified thereunder and also direct strict action to be taken by the stock exchanges on the delinquent actions of the company (which includes its chairman), as explained above,” Sinha added.

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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