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16th Manappuram MBA Award Celebrates 15 Years, Highlights Tamil Nadu’s Leading Business Figures

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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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Iran Rejects European Calls for Restraint, Citing International Law Violations

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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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European Privacy Group Files Complaints Against X for Unauthorized Use of User Data

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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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Celebrating Excellence: The 16th Manappuram Multibillionaire Business Achiever (MBA) Award Ceremony

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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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Chelsea’s Fernandez Apologizes for Controversial Video, FIFA Investigates

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Chelsea footballer Fernandez has issued a public apology after a video surfaced featuring members of the Argentina squad singing a controversial song about France’s black players. The video, posted during celebrations of Argentina’s Copa America victory, prompted widespread condemnation for its racially offensive content. In response, FIFA has launched an investigation into the incident, with both the French Football Federation (FFF) and anti-discrimination organizations expressing outrage and calling for accountability.

In his apology, Fernandez, Chelsea’s £107m record signing, expressed regret for his involvement in the video, stating that the words used do not reflect his beliefs or character. Chelsea Football Club has initiated an internal disciplinary procedure, and anti-discrimination charity Kick It Out has emphasized the need for educational measures and accountability beyond mere apologies. The FFF has announced plans to file a complaint with FIFA against the Argentine Football Association, condemning the remarks as contrary to the values of sport and human rights.

FIFA, in response to the incident, has strongly condemned all forms of discrimination and is actively investigating the matter. The controversy underscores ongoing concerns about racism in football, prompting calls for comprehensive action to address such behavior both within clubs and at international levels.

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