Suspension of IAS officer Mohammed Mohsin who checked PM's chopper put on hold by CAT

Bengaluru, May 20: Ride-sharing company Ola Cabs said on Wednesday it will lay off 1,400 of its employees due to business uncertainty caused by the coronavirus pandemic while the revenue has come down by 95 per cent in the past two months.

"The COVID crisis continues to unfold all around us causing unprecedented economic and social destruction. It has also become evident that the coronavirus will not be eliminated any time soon," wrote co-founder and CEO Bhavish Aggarwal to all Ola employees.

"In these circumstances, today I write to all of you with the toughest decision I have ever taken -- the need to downsize our organisation and let go of 1,400 of our valued employees," he said.

Aggarwal said the fallout of virus has been very tough for the cab aggregating industry in particular. "The company's revenue has come down by 95 per cent over the past two months," he said.

Initially, he said, the company hoped it would be a short-lived crisis and that its impact would be temporary. "But unfortunately, it is not been a short crisis. And the prognosis ahead for our business is very unclear and uncertain. It is going to take a long time for people to go out and about like before."
With more companies preferring to have a large number of employees work from home, air travel limited to essential trips and vacations being put off for better times, the impact of this crisis is definitely going to be long-drawn, said Aggarwal.

"The world is not going to revert to the pre-COVID era anytime soon. Social distancing, anxiety and an abundance of caution will be the operating principles for everyone," he told employees.

Aggarwal said the crisis necessitates the need to conserve cash aggressively so that Ola is able to invest in opportunities in the future, adding the downsizing exercise has been a very tough and sad decision for the management team to make.

"While we restructure our organisation to the new realities of our business, we are also going to recommit ourselves to strengthening our operational excellence and leverage a lot more technology to improve efficiencies and reduce cost across all parts of our business," he said.

Feb 3: The Karnataka government is probably the only state to have so many nodal agencies to deal with investment proposals. There is the KIADB, Karnataka Udyoga Mitra, State High Level Clearance Committee (SHLCC), State Level Single Window Clearance Committee (SLSWCC) and District Level Single Window Clearance Committee.

While the government claims these have been created to speed up the process of setting up industries, they’re only delaying it. “A four-to-five year delay in acquiring land has become the norm,’’ say industry sources.

“These entities are only adding layers of obstacles to investors and is not really helping industries,” said a senior IAS officer.

While DLSWCCs are headed by deputy commissioners are empowered to clear investment proposals up to Rs 15 crore, SLSWCC, headed by the industries minister, clears proposals more than Rs 15 crore and up to Rs 500 crore. Proposals worth more than Rs 500 crore have to be cleared by SHLCC chaired by the CM. These entities have to meet regularly and clear proposals. But often, these meetings don’t happen as scheduled. “The delay starts from here,” said Vasant Ladava, industrialist and member of Karnataka Industries and Commerce, Bengaluru.

The single-window agencies involving representatives of departments like industries, revenue, pollution control board and forest are supposed to collectively give necessary clearances required for industries. “But, of late, they have become only project approvers without other responsibilities, leaving investors in the lurch,” said Ladava.

Bengaluru, May 15 Reformed underworld don N Muthappa Rai died battling cancer at a private hospital here on Friday, hospital sources said.

Rai, 68, was suffering from brain cancer for the past one year and was admitted at Manipal Hospital on Old Airport Road, where he died at 2.30 am, the sources said. Rai is survived by two sons.

Born into a Tulu-speaking Bunt family in Dakshina Kannada''s Puttur town, Rai entered the crime world at a very young age.

Karnataka police issued arrest warrants against Rai in eight cases, including murder and conspiracy.

In 2002, Rai was deported to India from the United Arab Emirates. On arrival, he was questioned by various investigation agencies such as the Central Bureau of Investigation (CBI), Research and Analysis Wing (RAW) and Intelligence Bureau (IB), and by the Karnataka police. He was later acquitted due to the lack of evidences.

In his reformed years, Rai founded charitable organisation ''Jaya Karnataka''.

Rai has appeared in Tulu film ''Kanchilda Baale'' in 2011 and Kannada film ''Katari Veera Surasundarangi'' in 2012.

Bollywood director Ram Gopal Varma wanted to make a movie based on Rai''s life. The film roped in actor Vivek Oberoi for the lead role and was shot in Bengaluru, Mangaluru, Mumbai, Dubai and London. However, it has not been released due to production delays.

Rai was enthusiastic about the film and even celebrated his birthday with Varma and Oberoi.

After his cancer diagnosis, Rai withdrew from public life and resigned from Jaya Karnataka.

His last rites are likely to be performed at Bidadi on Friday, family sources said.