Formula Manipal car launched

[email protected] (CD Network)
November 12, 2010

Udupi, November 12: The 2010 Formula Manipal car, conceptualised, designed and fabricated by a team of over 30 students from the Manipal Institute of Technology was launched by the Chancellor, Ramdas M Pai at the Manipal University building on Friday.

The Formula type single seater, open wheeled race car, which won accolades at the competitions held in Melk, Austria recently, was displayed at the health sciences library for viewing. This is the third car made by the engineering students. Since inception in 2008, Formula Manipal has participated in Formula Student competitions held in Italy, UK and Austria.

This year, the car named FMX competed at Wachauring, Melk in FS Austria and cleared all static tests and competed in dynamic events. With a carbon fibre outer body, the FMX is the lightest Indian FSAE car. The team received the “Most Motivated Team” award at the competition. And even finished fourth among the 30 teams from around the world. FMX was the only team from Asia.

The Formula Society of Automotive Engineers (FSAE) hosts the competitions for student made cars from across the globe. The challenge is to make a race car with specific rules and safety considerations. This not only tests the engineering prowess of the students, but also provides great hands-on learning process unlike any other.

Team head, Pradeep Pandurangi said that after three years of experience, Formula Manipal is now ready to compete against their international counterparts and work towards excellence. To be able to achieve an even higher standard of performance in a limited amount of time, a complete plan for the year has been chalked out.

The performance and technical specifications of the car have become significantly better in the past three years. The FM08 and FM09 weighed 423 and 356 kgs respectively. Owing to a full carbon fiber outer body and use of better materials, the FMX weighed 266 kgs, almost 100 kgs lesser than the previous car.

On the electronics front, a data acquisition system was made for the car so that real-time data and performance of the car could be analysed and reviewed. The team's technical experience and engineering intuition has also been increasing exponentially every year. Overall, the FMX is a lighter, faster, safer and better performing car. The judges at the competition called it the "best Indian FSAE car".

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 - 
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News Network
March 30,2020

Bengaluru, Mar 30: Coffee Day Enterprises Ltd (CDEL) has received the first tranche of Rs 2,000 crore following disinvestment of Global Village Techparks to repay debts following the death of its founder V G Siddhartha.
In August last year, CDEL executed definitive agreements with entities belonging to Blackstone Group and Salarpuria Sattva Group for investment in GV Techparks, a wholly-owned subsidiary of group company Tanglin Development Ltd (TDL), at an enterprise value of Rs 2,700 crore.
The balance amount is expected to be received after the receipt of few statutory approvals, CDEL said in a statement.
"Out of the money received in first tranche, the company has paid off its debts in full including principal and interest amounting to Rs 1,644 crore to the lenders despite difficult economic conditions," it said.
Post this payment, the consolidated debt of the company and its subsidiaries stands at Rs 3,200 crore as on March 27. This includes debt of Rs 1,400 crore of its subsidiary Sical Logistics Ltd where disinvestment process is in progress.
"The company and subsidiaries have repaid around Rs 4,000 crore to the lenders since the beginning of this financial year," CDEL said.
"With the continuous support of stakeholders of the company, the current management is working to ensure better liquidity and operational efficiency. The company is confident of the future ahead despite various challenges," it added.
The company has been in rough waters after its founder V G Siddhartha took his own life as debt strains began to emerge in his company. Since his death in July last year, CDEL has been trying to divest its assets to pare debts.
On July 30, 2019, CDEL informed stock exchanges about Siddhartha's disappearance. In a letter that was purportedly written by him, the Cafe Coffee Day founder said: "I could not take any more pressure from one of the private equity partners forcing me to buy back shares."

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News Network
January 5,2020

Bengaluru, Jan 5: Karnataka Minister for Large and Medium Industries Jagadish Shettar warned of strict action against officers who demand bribe from farmers while acquiring land.

Mr Shettar, who paid a surprise visit to defense, aerospace hi-tech industry layout in Haraluru, Devanahalli in Bengaluru Rural district, warned the officials who demand a bribe for sanctioning compensation funds.

He said, 'Lands have been acquired from farmers for the development of the industrial area. It's the duty of state government to provide compensation to these farmers. Complaints must be registered against officials who demand a bribe for functioning compensation funds.'

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News Network
January 22,2020

Udupi, Jan 22: Writer Richie John Pais will be conferred with the Best Konkani Book Award, instituted by Dr T M A Foundation in recognition of his contribution made to Konkani Language and Literature.

According to a statement, the Award carries Rs 10,000 in cash and a citation.

‘Fathor’, a collection of Konkani short stories authored by Richie John Pais was published in 2017 has been chosen for the Dr TMA Foundation Best Konkani Book Award 2018.

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