The 16th edition of the prestigious Manappuram Multibillionaire Business Achiever (MBA) Award ceremony, conceptualized by Dr. Ajit Ravi Pegasus, was held on 13th August 2024 at Le Meridien, Coimbatore, honoring exceptional business leaders for their significant financial accomplishments and contributions to social welfare. The event, led by Pegasus Chairman and MBA Award FICF Founder, Dr. Ajit Ravi was graced by Padma Shri Dr. D R Karthikeyan, President of the Foundation for Peace, Harmony and Good Governance (Age Care India) and Former Director of the Central Bureau of Investigation as the Chief Guest, with Dr. E Balagurusamy, Chairman of the EBG Foundation and Academic Adviser to the Governor of Jharkhand serving as the Guest of Honour and Dr Kuriachan K A, Former District Governor, Rotary International & International Corporate Trainer. The award winners are Shri Soundararajan Bangarusamy (Chairman, Suguna Foods and Suguna Holdings), Shri C K Kumaravel (Co-founder and CEO, Groom India Salons), Shri V C Praveen (Vice Chairman, Sree Gokulam Group of Companies), Dr. Arun N Palaniswami (Executive Director, KMCH group of hospitals), and Shri V R Muthu (Chairman & Co-founder, Idhayam Group).
Marking the MBA Award’s 15-year milestone the initiative has now expanded to other states to recognize 15 outstanding business leaders . As part of this expansion, five leaders from Tamil Nadu has been honored this time, with an additional ten recipients to be recognized in the coming months, as announced by Dr. Ajit Ravi, FICF founder and Chairman of Pegasus. He also mentioned that moving forward, only one recipient will be selected annually for the MBA Award. The MBA Award, which celebrates individuals with assets surpassing Rs 1000 crore, proudly inducted five new laureates from Tamil Nadu into its prestigious ranks. These distinguished winners are now members of the Federal International Chamber Forum (FICF), an exclusive network of industry leaders with significant assets. The FICF provides a platform for collaboration, innovation, and advocacy, focusing on impactful causes beyond financial achievements.
This year’s awardees join an illustrious group of previous MBA Award recipients, including luminaries such as Shri V P Nandakumar of Manappuram Finance Ltd, Shri Joy Alukkas of Joy Alukkas Group, Shri M A Yusuf Ali who heads the EMKE Group, Shri T S Kalyana Raman of Kalyan Jewellers, Shri P N C Menon of Sobha Developers, Shri Gokulam Gopalan of Gokulam Group, Dr. Ravi Pillai, Founder & MD, R P Group of Companies, Shri M P Ramachandran, Managing Director and Chairman of Jyothy Laboratories, Shri Kochouseph Chitilappilly, Founder, Chairman & CEO of V-Guard Industries Ltd, Shri Sabu M Jacob, MD, Kitex Garments Ltd, Shri Viju Jacob, Managing Director of Synthite Industries Ltd, Dr. A V Anoop, Managing Director, AVA group of companies, Dr. Varghese Kurian, Chairman, VKL Holdings and the Al Namal Group of Companies, Adv Dr P Krishnadas, Chairman & Managing Trustee, Nehru Group of Institutions and Dr. Hafeez Rahman, Chairman, Sunrise Hospitals.
Each member of this esteemed group embodies entrepreneurial spirit and social responsibility, leaving a lasting impact on both the business world and society. As the MBA Award enters its 16th year, the ceremony continues to celebrate business excellence and societal contribution, inspiring future generations of business leaders to follow in the footsteps of these visionaries.
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The 22nd Miss South India 2024 title organized by Pegasus Global Private Limited in a joint venture of DQUE Soap and Alcazar Watches belongs to Cinda Padamadan from Kerala. Harsha Haridas from Kerala became the first runner-up and Anu Singh from Tamil Nadu became the second runner-up. Former Miss South India winner Harsha Sreekanth crowned the winner. The first runner-up was crowned by Dr Leema Rose Martin and Pegasus Global Pvt Ltd MD, Jebitha Ajit crowned the second runner-up at Miss South India 2024 held at Le Meridien, Coimbatore on August 13.
The results announcement and crowning of Miss South India were conducted under the principal stewardship of Dr Ajit Ravi, Founder of Miss South India and Chairman of Pegasus. The winners were presented with golden tiaras encased in one gram of gold designed by Preethi Parakkat of Parakkat Jewels. 14 contestants selected through various stages from numerous applicants from South India have lined up in the Miss South India 2024 pageant. The competition featured three rounds: Royal Blue Indian Ethnic Wear, Black Cocktail, and Red Gown.
Manappuram Finance Ltd, Saj Group Hotels and Resorts, Naturals Salon, Unique Times and Parakkat Resorts are the Powered by Partners of the event. Aishwarya Advertising, UTWorld, FICF, UT TV, Times New, Kalpana International, Europe Times, DQUE Watches, Crystal, Green Media, Neenu Pro The Sound Experts, JD Institute of Fashion and Technology are the co-partners.
Subtitle winners:
Miss Congeniality – Anu Singh (Tamil Nadu)
Miss Ramp Walk – Chinmayee Yoga Deepthi (Karnataka)
Miss Adorable – Harsha Haridas (Kerala)
Miss Talent – Sanjana Akasam (Telangana)
Miss Humaneness – Cinda Padamadan (Kerala)
Miss Diligent – Shreya Kalmady (Karnataka)
Miss Solidarity – Anu Singh (Tamil Nadu)
Miss Vivacious – Pujitha Kamala D (Andhra)
Miss Inspiring – Kalyani Ajith (Kerala)
Miss Fashionista – Cinda Padamadan (Kerala)
Regional title winners
Miss Queen Kerala – Cinda Padamadan (Kerala)
Miss Queen Karnataka – Chinmayee Yoga Deepthi (Karnataka)
Miss Queen Andhra – Pujitha Kamala D (Andhra)
Miss Tamil Nadu – Anu Singh (Tamil Nadu)
Miss Queen Telangana – Sanjana Akasam (Telangana)
Jaya Mahesh (Model, and Fitness Therapist), Dr K A Kuriachan (Former Rotary Governor and International Corporate Trainer), Rinky Shah (Influencer & Entrepreneur), Lakshmi Atul (Director, Aries Group of Companies) and Reji Bhaskar (Fashion Photographer) were on the judging panel. The winners of the subtitles were selected by a panel of eminent persons
Anu Singh from Tamil Nadu, Chinmayee Yoga Deepthi from Karnataka, Cinda Padamadan from Kerala, Darshana R from Tamil Nadu, Gayatri Gedela from Telangana, Harsha Haridas from Kerala, Kalyani Ajith from Kerala, Nancy Lawrence L from Tamil Nadu, Pujitha Kamala D from Andhra, Rishita Marepalli from Andhra, Sanjana Akasam from Telangana, Seebal Mathew from Karnataka, Shreya Kalmady from Karnataka and Shruthakeerthi E from Tamil Nadu were the other contestants.
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Iran’s foreign ministry has strongly criticized calls from France, Germany, and Britain urging restraint in response to Israel, labeling these demands as lacking political logic and contradicting international law. The European nations issued their appeal after the killing of Ismail Haniyeh, Hamas’s political chief, in Tehran last month, an act for which Tehran and its allies, including Hamas and Hezbollah, hold Israel responsible.
Iran’s foreign ministry spokesperson, Nasser Kanaani, condemned the European stance, arguing that it ignores Israel’s alleged violations of Iranian sovereignty and territorial integrity. He asserted that Tehran remains committed to deterring Israel and urged the European nations to oppose the ongoing conflict in Gaza and Israel’s actions.
Kanaani further criticized the United Nations Security Council and Western governments, blaming their support for Israel as the primary driver behind the ongoing crisis in Gaza. He called on Paris, Berlin, and London to take a firm stand against what he described as Israel’s warmongering in the region.
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Vienna-based privacy advocacy group Noyb has lodged complaints against Elon Musk’s X (formerly Twitter) in eight European countries, alleging the company unlawfully utilized users’ personal data to train its artificial intelligence technology without their consent. The complaints come in the wake of similar legal actions by Ireland’s Data Protection Commission (DPC), which had previously initiated court proceedings over X’s data collection practices.
Noyb claims that X began “irreversibly feeding” the personal data of over 60 million European users into its Grok AI system without notifying them or seeking their approval. The group criticized X for failing to inform users proactively, with many learning about the new data processing practice only through a viral social media post.
In response, the DPC has reportedly secured an agreement from X to halt its controversial data processing. However, Noyb founder Max Schrems argues that the DPC’s actions address only the superficial aspects of the issue, calling for a comprehensive investigation into the legality of X’s data processing. Noyb has now requested an urgent review from data protection authorities in Austria, Belgium, France, Greece, Ireland, Italy, the Netherlands, and Spain to ensure full compliance with the EU’s General Data Protection Regulation (GDPR).
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On August 13, at the Le Meridien Hotel in Coimbatore, the 16th Manappuram Multibillionaire Business Achiever (MBA) Award will celebrate five distinguished business leaders from Tamil Nadu. This prestigious accolade grants recipients membership in the Federal International Chamber Forum (FICF), an elite network for the world’s wealthiest individuals, each possessing assets of at least ₹1000 crore. The FICF is known for its members’ exceptional business achievements and commitment to social responsibility, encouraging them to use their entrepreneurial prowess for social progress.
Commemorating the MBA Award’s 15-year milestone in Kerala, the initiative now extends to other regions, recognizing 15 leading business figures from each area. This year, Tamil Nadu’s honorees include Shri Soundararajan Bangarusamy (Suguna Foods), Shri CK Kumaravel (Naturals), Shri VC Praveen (Sree Gokulam Group of Companies), Dr. Arun N Palaniswami (KMCH Group of Hospitals), and Shri VR Muthu (Idhayam Group). An additional ten recipients will be acknowledged in the coming months, with Dr. Ajit Ravi, FICF founder and Chairman of Pegasus, announcing a future shift to honoring one recipient annually.
Previous MBA Award winners include Shri VP Nandakumar, Shri Joy Alukkas, Shri MA Yusuff Ali, Shri TS Kalyanaraman, Shri PNC Menon, Shri Gokulam Gopalan, Dr. Ravi Pillai, Shri MP Ramachandran, Shri Kochouseph Chittilappilly, Shri Sabu M Jacob, Dr. Viju Jacob, Dr. AV Anoop, Dr. Varghese Kurian, Adv. Dr. P Krishnadas, and Dr. Hafeez Rahman.
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Turkish shooter Yusuf Dikec may have gained viral fame for his relaxed demeanor at the Paris Olympics, but internally, he felt quite differently.
Dikec’s laid-back stance, with his non-shooting hand casually tucked into his pocket, ignited a wave of memes online as he secured a silver medal alongside Sevval Ilayda Tarhan in the mixed team 10-meter air pistol event.
The 51-year-old remarked, “People said I looked very calm, but inside, storms were raging.”
He believes his shooting posture beautifully embodied the Olympic spirit, showcasing fairness, simplicity, clarity, and authenticity, which contributed to its widespread attention.
Unlike his competitors, Dikec chose to forgo the high-tech shooting gear, opting instead for a simple yellow earplug and regular glasses.
His pose has inspired other athletes, including Sweden’s pole vault champion Armand Duplantis, who paid homage to Dikec after breaking his own world record at the Games.
Additionally, Turkey midfielder Irfan Can Kahveci appeared to mimic the pose during Fenerbahce’s 2-1 Champions League qualifying loss to Lille on Tuesday.
Having secured his first Olympic medal, Dikec is now focused on achieving gold at the 2028 Olympics in Los Angeles, aiming to surpass Serbian champions Zorana Arunovic and Damir Mikec.
“My partner and I will claim the gold at the Los Angeles 2028 Games,” Dikec stated. “I’ve only lent this gold medal until 2028.”
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Catalan separatist leader Carles Puigdemont announced on Friday that he has returned to Belgium after successfully evading arrest during a brief visit to Spain, asserting he never intended to surrender. “I’m in Waterloo after extremely difficult days,” he wrote on X. Puigdemont has lived in self-imposed exile since 2017 following a failed attempt to secure Catalonia’s independence.
His return to Spain, after seven years away, was marked by defiance against an arrest warrant as he addressed supporters at a rally on Thursday. The dramatic escape unfolded like a scene from a crime film, eliciting outrage from opposition politicians and the judiciary.
Eduard Sallent, commissioner of the Catalan regional police, Mossos d’Esquadra, explained that officers waited until after the rally to avoid a public confrontation. However, after his speech, Puigdemont slipped backstage, put on a baseball cap, and jumped into a waiting car. While police rushed toward the vehicle, around 50 supporters wearing straw hats formed a barrier, allowing Puigdemont to flee.
Sallent admitted the operation to arrest Puigdemont failed but insisted the Mossos acted according to plan and did not appear foolish. He expressed skepticism about Puigdemont’s claim of being in Belgium, stating, “I do not rule out that this man is still in Barcelona,” and emphasized that they would not rely on assumptions.
The Supreme Court judge overseeing the investigation demanded explanations from the Mossos and the national government regarding the failure to apprehend Puigdemont. While the Spanish parliament has pardoned others involved in the 2017 secession attempt, the Supreme Court ruled this does not apply to Puigdemont, who faces embezzlement charges related to funding the independence referendum deemed illegal by Spanish courts. Puigdemont argues that the vote was legitimate, thus invalidating the charges.
As blame circulated over his escape, Spain faced increased political turmoil, with the opposition People’s Party (PP) calling for the dismissal of the interior and defense ministers over Puigdemont’s evasion.
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Wine production in France, the world’s largest producer, is anticipated to decline significantly this year due to humid weather fostering disease in vineyards, as well as hail and frost affecting certain regions, according to the farm ministry’s announcement on Friday. The overall wine output is estimated to fall between 40 million and 43 million hectolitres, which is below the five-year average of 44.2 million and substantially less than the 2023 production of 47.9 million.
Wine and spirits are among France’s most significant export products, yet the sector is grappling with decreasing domestic consumption, particularly in areas like Bordeaux, leading to recent farmer protests. The impact of the reduced output on wine prices remains uncertain. While prominent châteaux often raise prices for their limited vintages, France is currently facing stiff competition in global markets. In Champagne, producers typically blend various vintages in their bottles, although this may not prevent price increases.
The French farm ministry reported that mildew, exacerbated by the humid early summer, affected most wine-growing regions and could result in considerable losses. Additionally, many vineyards suffered a reduction in flowers, leaves, and young berries due to the cool and damp conditions during the flowering period. However, the ministry noted that wet soils following months of rain might mitigate the decline in production, with plant growth lagging one to two weeks behind last year.
While the ministry did not provide specific regional forecasts, it indicated that Champagne’s production is expected to be lower than in 2023 due to spring frosts and hail impacting its potential. In the Bordeaux region, a reduction of about 8,000 hectares (19,768 acres) from the uprooting of vines to manage excessive output, combined with potential losses from coulure, mildew, and hailstorms, is likely to lead to further decreases in production following a downturn in 2023.
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Centuries ago, the sage and philosopher Laozi, on the other side of the Great Wall of China, famously stated, “A journey of a thousand miles begins with a single step.” This timeless wisdom highlights how seemingly minor actions can trigger significant changes over time. The remarkable story of an entrepreneurial giant on this side of the Great Wall exemplifies this concept beautifully. When V.P. Nandakumar took over his late father’s modest, single-branch money-lending business in 1986, few could have predicted that it would mark the start of an extraordinary journey. Today, Manappuram Finance Ltd stands as one of India’s premier non-banking financial companies (NBFCs), boasting 5,200 branches across 28 states and Union Territories, an impressive Assets Under Management (AUM) of Rs 42,069 crore, and a dedicated workforce of over 50,000.
Unique Times chronicles the fascinating success saga of Nandakumar, the Managing Director and CEO of Manappuram Finance Ltd, who used his astute leadership skills, razor-sharp acumen and vision to steer his enterprise all through its high-octane journey to becoming a financial powerhouse in the country. The journey that began in modest settings in Valapad, a quaint village in Kerala’s Thrissur, has acquired a pan-India dimension today, which is nothing but extraordinary. Nandakumar has added more feathers to his cap by unlocking the portals of diversification through microfinance, home loans, vehicle finance and SME and personal loans thereby broadening the spectrum of his company.
Wearing Many Hats With Elan
Born in 1954, Nandakumar holds a postgraduate degree in science and additional qualifications in banking and foreign trade, providing him with a strong foundation for his finance career. His expertise has been recognized by various trade and industry associations, including FICCI, ASSOCHAM, and FIDC, where he has actively contributed to policy shaping and the promotion of best practices within the sector. His commitment to education and professional development is further demonstrated by his appointment to the Board of Governors of the Indian Institute of Management, Kozhikode, in January 2019, highlighting his significant influence in the field of management education.
Nandakumar is a Distinguished Invitee to the All-India Management Association’s Council of Management, where he shares his insights to promote management practices nationwide. As Co-Chair of the State Council of FICCI Kerala, he demonstrates his ability to foster collaboration among industry leaders and improve the business environment in the region. Through these roles, Nandakumar continues to make a positive impact on both the educational and industrial sectors, guiding the next generation of leaders in the financial services industry.
How It All Began
Manappuram Finance Ltd traces its roots back to 1949 when it was founded by Nandakumar’s father, the late V.C. Padmanabhan, in Valapad. The initial operations focused on money lending. It was a modest beginning that laid the foundation for what would become a financial behemoth. Following the untimely demise of his father in 1986, Nandakumar took over the reins of the family business and there has been no looking back ever since.
Diversification and Growth
One of Nandakumar’s most significant contributions has been his proactive approach to diversification. Recognising the evolving needs of customers, he has steered the company into new territories. Today, a remarkable 49% of Manappuram’s total business originates from non-gold segments, a clear reflection of his strategic foresight.
Nandakumar’s efforts have not gone unnoticed. His exemplary leadership and remarkable achievements have fetched him recognition on coveted national platforms. In May 2018, ‘Business World’ magazine listed him among India’s 40 most valuable CEOs. The ‘Economic Times’ acknowledged Manappuram as the ‘chart-topper’ in their ET500 list of Top Wealth Creators of 2019. Furthermore, he received the Hurun Industry Achievement Award in February 2023, a testament to his enduring impact in the business world.
Commitment to Community Development
Beyond his business acumen, Nandakumar’s commitment to social responsibility is a cornerstone of his vision. In 2009, he established the Manappuram Foundation aimed at uplifting the community through various initiatives. The foundation’s reach extends to managing two schools, coaching centres for diverse skills, yoga centres, and wellness facilities. Notably, it also operates a sports complex with badminton and basketball courts, along with an aquatic complex featuring a state-of-the-art swimming pool.
His dedication to community welfare is evident in the foundation’s services, which are provided to people falling under the Below Poverty Line (BPL) category at subsidized rates. Additionally, the foundation has a fleet of ambulances equipped with advanced medical support systems, further solidifying its role as a pillar of support for the local population. He staunchly believes that these efforts to uplift the community will have a butterfly effect over the years as his empire grows.
Leadership Beyond Borders
In addition to his responsibilities at Manappuram Finance, Nandakumar has done yeoman service to international organizations. His journey with Lions Clubs International began in 1981, and over the years, he has held various leadership positions, including multiple district council chairperson and member of the LCIF Corporate, Foundation & Government Gifts Committee. His dedication and service culminated in his election as an international director during the 102nd International Convention in Milan, Italy, in July 2019, marking a significant milestone in his commitment to community service.
Currently, he is serving as the Chair of LCCIA and Chairperson of the ISAME Area Leadership. Through these roles, he continues to foster collaboration among Lions Clubs worldwide, advocating service projects that address pressing social issues. His leadership not only strengthens the organisation but also reinforces his commitment to making a positive impact beyond national borders, embodying the spirit of global citizenship and community empowerment.
Promoting Financial Inclusivity
Nandakumar’s influence reaches far beyond the confines of Manappuram Finance. He has been a driving force in promoting financial inclusivity through his involvement in several key ventures. Notably, he played a pivotal role in establishing Equitas Small Finance Bank Ltd., India’s first small finance bank that provides affordable financial solutions to the underserved. His efforts also contributed to the formation of Aptus Value Housing Finance India Ltd., both of which were successfully listed on the stock exchange, marking significant milestones in the Indian financial landscape.
Additionally, Nandakumar’s promotion of Five Star Business Finance Ltd., an NBFC specialising in MSME finance, further emphasises his commitment to enhancing access to financial services for marginalised sectors. By focusing on micro, small, and medium enterprises, he has championed initiatives that empower entrepreneurs and drive economic growth. Through these endeavours, Nandakumar continues to champion financial inclusivity, ensuring that diverse segments of society have the opportunity to participate in the economic mainstream.
A Legacy of Leadership and Vision for the Future
As Nandakumar continues to lead Manappuram Finance Ltd., his vision is firmly anchored in innovation, community service, and financial inclusivity. With plans for further expansion and diversification, he is well-positioned to navigate the changing financial landscape while remaining dedicated to the values that have guided him since the company’s inception.
In an era where financial services are increasingly crucial, Nandakumar’s journey exemplifies the power of leadership, resilience, and a sincere commitment to making a positive impact. As he looks ahead, it is clear that his influence will continue to shape the future of financial services in India and beyond.
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Austrian security officials have arrested a 19-year-old who was reportedly planning a suicide attack at a Taylor Swift concert in Vienna. The teen, who had previously pledged allegiance to the Islamic State group (IS), allegedly confessed to intending to use explosives and knives to target “a large crowd of people.” As a result, Swift’s three sold-out shows at the Ernst Happel Stadium have been canceled, affecting over 195,000 expected attendees.
Local media revealed that the suspect had stolen chemicals from his job at a metal processing company in Ternitz and had made progress in building a bomb. Reports also indicated he planned to drive a car into the crowd outside the venue. During a news conference, officials noted that substances and devices discovered at the suspect’s residence demonstrated “concrete preparatory actions.” They also seized weapons from his home.
The suspect, an Austrian citizen of North Macedonian descent, had recently altered his appearance to align with Islamic State propaganda and had been consuming and sharing Islamist materials online. Two additional suspects were also identified: a 17-year-old employed at a company set to provide services at the concert venue and a 15-year-old who was arrested nearby but has remained silent with authorities.
Interior Minister Gerhard Karner stated that a tragedy had been averted, crediting international intelligence collaboration for thwarting the attack. He emphasized that the terrorist threat has increased in Europe and reiterated that major concerts often attract Islamist attacks. While no specific threats have been identified regarding upcoming events in Austria, security measures remain heightened. Swift’s Vienna concerts were part of her European Eras Tour, which has already visited several countries. She is scheduled to perform five shows at Wembley Stadium in London next week, prompting UK authorities to assess intelligence to ensure safety at the event. London Mayor Sadiq Khan confirmed that the city would proceed with plans for the concerts, ensuring police cooperation for safety.
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