ISSUE NO IV | SEPTEMBER 2022

HARSHITA | AYUSH | SNEHA | PRANAV | ESCANDITA | SHUBHANGI |

PRIYANSHI | PRATEEK | RITVIK | NISHITA | ISHIKA | VINAYAK |

YESHASWINE | HAYFA | CHAHAT

OLA’s BIG BET ON THE

ELECTRIC FUTURE ️
THE METEORIC RISE

OF WOMEN CRYPTO

INVESTORS
THE LEGACY OF

JHUNJHUNWALA
ROE V WADE

OVERTURNED
 FROM THE HOUSE OF

DEPARTMENT OF MANAGEMENT STUDIES

NALSAR UNIVERSITY OF LAW

06
A deep dive into all that’s
surfacing in the world of
Flipkart and PayTM

STARTUPX

Focussing on rising

14
inflation rates; SEBI’s
aggregator framework
and women investors in
the crypto

FINANCEX
 27
A look into OLA going for
Electric Scooters and giant
leap in Aero Space with the
introduction of Digital Twin

TECHX

35
The big scoops of the year, with
the Big Bull leaving behind a
massive legacy and Chelsea
running out of funds!

NEWSFLASHX

In a year marked by numerous

44
protest, we look at the NIMBUS
deal & the RoeVsWade case
that sparked controversies all
over the world

OSXplains
 In the words of

58
Prof. K Vidhyulata Reddy,
understand the impact of
Cryptocurrency being Taxed
in India

FACULTYX

62
Here’s our recommendations on
Books, Podcasts and Ted-Talks
that you just can’t afford to
miss!!

RESOURCEX

67
Stay updated with everything
happening in the lives of
those that form the first IPM
batch at DoMS, NALSAR!

NALSARX
 07
FLIPKART’S

ACTIVE

INVESTMENTS IN
STARTUPX.
SIX STARTUPS
Flipkart Ventures aiming to invest

$100 million to support early age

startups in India.

10
PAYTM &

SAMSUNG TEAM

UP FOR POS

DEVICES

Paytm allying with Samsung to benefit

both companies as they have

partnered to reduce what customers

hate most- hassles in payments!

 FLIPKART’S
SENARY
OUTLAY
Originally announced in 2019,
Flipkart Ventures is Flipkart's
investment arm. With a $100
million fund, it aims to
support early-stage startups
in India and thereby
facilitates the development of
innovative solutions for the
next wave of internet users.
shortlisted through the
Modelled after the American
startup accelerator Thrassio,
Flipkart Ventures hopes to
accelerate innovation in these
startups, particularly those
that demonstrate potential to
solve real-world problems
through disruptive
technologies. With a current
portfolio of minority
investments in more than 12
startups, Flipkart has been an
active investor in the startup
a mentorship program.
7/StartupX
These include startups like
Ninjacart, Shadowfax and
Blackbuck, as well as
established companies like
ABFRL and Arvind.
The startups have been
Flipkart Leap Ahead
program, which will help
early-stage startups scale
up their businesses.
The six startups will receive
an equity-based investment
of up to $500,000 from
Flipkart. Through a
customised curriculum
designed by Bain &
Company, they will undergo
During the 16-week mentorship program, selected
startups will have the opportunity to present their fine-
tuned ideas to potential investors and industry leaders
during demo days. An advisory board of cross-functional
executives from Flipkart Ventures and Flipkart were
involved in shortlisting the startups through the
accelerator programme after a rigorous selection process
that included multiple rounds of evaluation based on
objective criteria.

1. Dopplr

The

Through the use of Al-driven

garment display and multiple
customization options, Dopplr

HEXAD
offers brands immersive virtual
storefronts as a service.
Customers can virtually test
clothing using their avatars
and even engage in social
shopping with friends on the
platform.

2. LivWell

LivWell Asia offers millennials with affordable insurance

packages through a blockchain-based insurtech and health
engagement platform. The platform provides lower-priced
health insurance plans using the user's health data via its
app.

3. LogisticsNow

To help clients save costs and time, LogisticsNow operates

a digital logistics platform (LoRRI) that offers deep data-
based freight intelligence and procurement solutions.

8
4. NeuroPixel.AI

An ML (Machine Learning) and deeptech company,

NeuroPixel.AI, automates the process of cataloguing
apparel. It generates lifelike synthetic human models that
can be personalised depending on size, gender and age.

5. Rightbot Technologies

Robotics automation platform Rightbot Technologies

allows efficient order fulfilment, enhancing productivity
and reducing costs, with a focus on the quick commerce
segment.

6. Sellerapp

SellerApp is a seller-centric intelligence platform providing

tools that can help a seller run, grow, and scale a
business. It offers its clients in-depth analyses of category
sizing, new product creation, and ad optimization.

The six startups are building capabilities across a wide

array of solutions, each catering to a unique problem
statement and the present needs of consumers and
sellers online.

"With Flipkart Leap Ahead, Flipkart is furthering its

commitment to fostering India's entrepreneur ecosystem
by supporting startups to scale up their businesses and
develop relevant solutions to solve complex problems in
the consumer internet and technology ecosystem”, said
Ravi Iyer, senior vice president and head of Corporate
Development at Flipkart.

WRITTEN BY
PRATEEK PYNE

9
A piece of interesting news has
become the object of business
readers' admiration as Paytm and
Samsung, two of the market's most
prominent players, have come
together to give innovation in offline
payments a new turn through their
point of sale (POS) devices. Paytm
benefits greatly from this as Samsung
stores will provide them with the

the
opportunity to extend their customer
base further and strengthen brand
loyalty. With incentives for purchases
received through Paytm POS devices,

new
which provide merchants with
targeted discounts, integrated
payments, streamlined billing, and

dynamic
real-time inventory status.

duo?
What are POS devices?

A POS system consists of software

and hardware to assist business firms
or shop owners in creating invoices,
collecting payments, documenting
transactions, and managing inventory.
Phones, calculators, barcode
scanners, chip readers, receipt
printers, touchscreen displays, and
laptops are a few examples of various
POS equipment available.

10
What's in it for the customers?

Customers will surely benefit from having the option to

make payments through Paytm Postpaid by virtue of the
POS devices since it would allow them to buy things
without fretting about their finances. If need be, customers
can choose between low-cost personal loans up to ₹2 lakh,
provided by Paytm's partners, as well as Paytm Postpaid, to
make purchases. Paytm will also provide no-cost EMI
options. In addition to the primary card payments,
customers can now pay for Samsung devices from their
authorised retailers, using the large variety of payment
options provided by Paytm, including Paytm UPI, Paytm
Wallet, and Paytm Postpaid.

Will Paytm's model be successful in India?

Paytm, which helped start the QR and mobile payments

revolution in India, is still committed to providing cutting-
edge solutions to bolster its payments ecosystem and give
small companies more leverage. The Paytm Soundbox,
Paytm POS devices, and all-in-one QR codes, among other
gadgets, are highly known and welcomed by retailers all
across the nation due to their comfort of use. With the fast
expansion of its merchant network and adopting new
devices, Paytm has optimised its revenue prospects while
maintaining its position as the industry leader in offline
payments. The financial giant had placed 4.1 million
devices around the nation as of July 2022.

11
Why Paytm?

Paytm is used by over 20

million companies to receive
digital payments. Additionally,
over three hundred million
Indians prefer Paytm to make
in-person purchases,
recharge, pay bills, send
money, book tickets, and
much more. The business
emerged as the first mobile
payment app in the nation to
achieve 100 million
downloads.

What does Samsung bring to

the table?

What Samsung brings to the

table can be substantiated by
the findings of Counterpoint
Research; Samsung India has
risen to the top of the
smartphone manufacturing
industry in the ultra-premium
smartphone sector (priced at
$1,000,000 or more), with a
total sales volume of 81% in
March 2022. The Korean tech
giant has outperformed most
other companies in the Indian
market and established a
dominant customer base that
has stood by its side and
helped it stand against the
test of time.

12
The success of Samsung India extends beyond its
smartphone business. With a volume market share of 73%
and 47%, respectively, it also became the market leader in
the category of tablets and smartwatches for March 2022.
The success can be credited to Samsung India's growth
into non-metropolitan areas of the nation, the construction
of additional Samsung experience centres, and the
stocking of more retail locations with premium products
throughout the country.

What does this mean for the competitors?

Paytm allying with Samsung is sure to benefit both

companies as they have partnered with the companies to
reduce what customers hate most- hassles in payments! It
is yet to come to light how well the business strategies are
thought out and executed, but one thing is certain- the
competitors in the market have their fair share of work to
be done ready for them, as these two giants put the haters
to silence.

WRITTEN BY
NISHITA

13
 15
DATA FINANCING:

FT. SEBI & RBI

SEBI and RBI have come to together to simplify the

process by which clients can communicate with any

financial service provider information about their

mutual funds & stock holdings.

FINANCEX.

19
WOMEN IN

CRYPTO
All about the trailblazers that have

risen through the ranks in the crypto

market!

24
CURBING THE

RISING INFLATION
Why is the RBI concerned about the

rising inflation and what happened in

the policy meeting?

 The

ebi

t
imulus
fo
The Securities and
Exchange Board of India
(SEBI) recently joined
hands with RBI's

bi?
regulated financial data
sharing system. The
move will aim to
streamline the system in
which customers will be
able to share information
about their stock
holdings, mutual funds,
and stock holdings with
any financial service
provider.
The financial service providers or FIPs in the securities
market (Asset Management Companies {AMC},
Depositories), with an enabled registrar and transfer agent
(RTA), can provide any financial information with respect to
the securities market to the customers and Financial
Information Users (FIU) through any of the account
aggregators who have registered with the RBI.
15/FinanceX
 Along with smooth dissemination of data, the move will
also enable the entire trading, depository, and mutual
funds system to be hosted live on the account platform
ecosystem. The Account Aggregator (AA) is a non-banking
finance company that is regulated by the RBI. It acts as a
facilitator in the collection of financial information of
customers/FIUs. The organisation and presentation of
data are only done with the explicit consent of the
customer.

QUICK
The
TAKE
Financial service
providers will have to enter
step-wise
basis.To
on
enable
a
such
dynamic
huge
into a contractual framework data flows, The Financial
with the aggregators, which Information Providers will
will then specify the rights of have to implement interfaces
each of the parties with that will then have a
respect to any situation in a submission option for the
dispute system. Once a valid aggregators in order to
consent is received from a upload consent artifacts onto
customer, the service the platform for
providers will then share the authentication and a secure
financial information through flow of information.

the AA. The verification In order to protect the

process of the same will records and data from any
involve a digital signature of unauthorised access,
the FIP as well before it is alteration, or disclosure of
sent to the Aggregator. The data, the financial service
whole procedure will be done providers will ensure
16
adequate safeguards are implemented along with a
complete log of all the information sharing requests and any
action taken in pursuance of such requests. A specific code
of conduct with respect to the SEBI rules will also include
an exclusive section for the customer redressal process.

Keeping the idea of transparency of the process at the

forefront, the FIPs must have a complete disclosure of the
names of the accounts of their aggregators with whom they
share financial information so that the customers will have
trust in the working of the FIP's.
The system that is currently Firstly, there is limited data
running is based on the security, as AAs can share
mechanism of issuing a unlimited amounts of data
consolidated account without any specific purpose
statement to the depositories with a simple heads up to
or any asset management RBI. Now, as specified by the
company that provides RBI, these account
information of the mutual aggregators are classified as
fund holdings of investors in NBFCs meaning they are
their Demat accounts. As registered under the
clarified by SEBI as well in its Companies Act 2013 and
recent circular, the licensed by the RBI. This type
participation of the Financial of NBFC-AA is the only type
Service providers in the that is not tied to any
account aggregator financial institution, thereby
framework will not have any reducing the role of the RBI in
effect on the existing its regulation.
mechanism. With the new
mechanism going into
immediate effect, there are
still a few questions that are
to be addressed with respect
to the account aggregator's
framework.

17
 Source: Qualys.com

With good intentions, the current framework should have

an independent aggregator that will regulate the AAs in
accordance with the rules established in the personal
data protection bill, 2019. With the implementation of
such a move, it is also quite a critical factor to educate a
large amount of the population about such a framework,
thereby subliminally establishing a digitally literate
audience as well. Along with this, an additional step of
releasing customer consent guidelines that can also be
monitored by the customers will make sure that the new
framework will also take into consideration the principle
of informed consent as established by the European
Union's General Data Protection Regulation (GDPR),
2016.

WRITTEN BY
RITVIK VANUKURU

18
 With the rise of the crypto industry, now that it is legalised
in various countries and has joined the official currency list
for several countries, we can’t overlook the fact that every
rising industry like this one, has women performing
exceptionally well and proving their mantle. Women in
finance itself have been overlooked along with the fact
that there are some of the most important companies all
around the world that have women as their CEOs.
THE GENDER ISSUE

There is no denying the fact that the men in the industry

are far more than the women, with less than 5% of the
crypto founders being women. But the sudden surge on
the investor front is also an achievement for the women
who wish to create a future in the industry. According to a
recent survey, only about 19% of women invest, trade,
and use crypto with the number of men being involved in
the industry standing at a height of 43%. This showcases
that the male population investing in crypto is more than
twice the amount of the women population.

The problem of women not being incorporated in the

industry has been a passed down issue. Women were not
allowed to join in the business world for a long period of
time after they started taking initiatives and building what

19
businesses or support their pitches came in very late to all
sectors of the finance industry. The founding pillars of the
crypto industry are decentralised and democratised
financial systems, which are predominantly occupied by
men, so it became difficult for women to enter in the sector.

STARS OF THE INDUSTRY

On the bright side, there have been a lot of women who

have changed the face of the cryptocurrency world and
work every day to prove to the world how this industry has
the calibre of supporting women as well as its capability of
giving them a lifestyle.

The Crypto ‘Bros’

Laura Shin

Shin is an independent
journalist who writes and
speaks about everything
crypto and blockchains. She
earned her B.A Phi Beta
Kappa with Honours from
Stanford University. She
shares her pieces of advice
on how crypto assets will
change the way we invest
our money on her podcast
‘Unchained’. For her
knowledge of the industry,
Shin has been a frequently
invited speaker at various
talks, conferences, and
events.

20
 Laura Shin Kathleen Breitman

The

SHEROES Elizabeth Stark

Meltem Demirors Preethi Kasireddy

21
Elizabeth Stark

Elizabeth Stark is the owner of bitcoin developer Lightning

Labs which recently raised $70 million with the early
investors being big companies like Tesla. Stark is currently
at Coin Centre as a fellow and has startups in the fields of
AI and decentralised technology. At Lightning Labs, she
works on developing an online financial layer that is
programmable and uses scalable, quick bitcoin
transactions.
Meltem Demirors

Meltem Demirors is the Chief Strategy Officer of

CoinShares, a company that manages $4 billion in assets
on behalf of a global clientele. She assists investors and
business owners in navigating the digital asset ecosystem
as a trusted partner. Meltem is a vocal proponent who has
received recognition for her own contributions to the field.
She spoke before the House Financial Services Committee
about the significance of bitcoin and is a founder member
and co-chair of the World Economic Forum
Cryptocurrency Council.

Preethi Kasireddy

Kasireddy is the founder of DappCamp which trains the

top Web 2 developers on how to become Web 3
developers. She became a web developer herself in just 3
weeks. She is currently working on Ethereum-based
projects which are in the fields of design and
implementation of smart contracts for token sales,
performing testing and privacy audits on the same. The
projects also include building unique protocols on the
blockchain.

22
Kathleen Breitman

Kathleen Breitman is the founder of two organisations, one

of which is Dynamic Ledger Solutions which works on
creating the first version of Tezos, a platform for
blockchain-based smart contracts with an on-chain
governance system that manages and pushes network
updates.

The Indian Aspect

With changing times, women are becoming aware of not

only the importance of having a source of income but also
the parts of investments. On the Indian front, 20% of crypto
investors are women. The young women are leading the
shift of investment from the traditional methods of buying
gold as an investment to investing their salaries in crypto.
The increase in crypto’s importance as a potential long-
term investment has led women to start understanding the
ease involved in the storing and buying of digital assets and
properties.

WRITTEN BY
SHUBHANGI DWIVEDI

23
 WHATEVER
IT TAKES!
According to the minutes of
the RBI's most recent policy
meeting, with the pricing
situation still at an
"unacceptably and
uncomfortably" high level,
members of the committee
stressed on the need to halt
inflation's upward trajectory
and bring it down to the
target range.
Governor Michael Debabrata
Shaktikanta Das, governor of
the Reserve Bank of India,
stated that depending on
how inflation and economic
activity are developing, the
central bank's policy
measures "will continue to be
calibrated, measured, and
flexible." Das, along with
other members, advocated a
50-basis point increase in the
repo rate at the latest policy
review with a view to limiting
its upward drift from the goal.
stays at 4% with a 2%
The MPC raised the
margin of error on each side.
24
benchmark lending rate by
50 basis points, to 5.40
percent, during its meeting
on August 3–5. According to
Das, the order of the policy
actions "is intended to boost
fiscal policy credibility and
monitor inflation
expectations."
According to RBI Deputy
Patra, frontloading monetary
policy operations "may
anchor inflation expectations
firmly, re-align inflation with
the objective, and lessen the
medium-term growth
sacrifice since it is timed into
the recovery that is already
underway."
The government has charged
MPC with ensuring that
inflation based on the
Consumer Price Index (CPI)
The CPI recorded 7.01% and
6.71% inflation in June and
July respectively. The
National Statistical Office
(NSO) has planned the
August data release on
September 12th. Governor
Das claims that the policies
taken by the RBI are
intended to assist growth by
bringing CPI inflation first
within the target range and
then, over time, getting it
near to the objective of 4%.
The Deputy Governor
“Given the fresh obstacles
and enormous uncertainty
we face”, Governor Das said,
"We will continue with
‘whatever it takes’ strategy.”
2022–23 (through August 3),
Patra also stressed on the
magnitude and frequency of
the current shocks as well.
They run the risk of
unanchoring expected
inflation when coupled with
the rise in expenditure made
possible by the epidemic, in
his opinion. When combined
with the increase in spending
made feasible by the
pandemic, they run the risk
of not anchoring the
anticipated inflation, in his
opinion. He asserted that the
unabating strength of the US
dollar, which has climbed by
25
more than 8.3% since March
31, 2022, is the major
concern when it comes to
exchange rates.
observed that the Indian
rupee had lost 3.9% of its
value versus the US currency
so far in the financial year
which is less than the MSCI
advanced economy currency
index and the MSCI EME
currency index by 4.4 and
1.3 percentage points,
respectively (5.1%).
According to Rajiv Ranjan,
executive director of the RBI
and a member of the MPC,
the dangers to the global
economy, which were
previously thought to be
stagflationary, are now more
clearly emerging as those of
an outright recession for
most nations.
 This has intensified the discussion regarding whether or not
the world economy will endure a harsh landing. Three
representatives of the RBI and three nominees from the
central government make up the MPC. The government had
proposed Shashanka Bhide, Jayanth R. Varma and Ashima
Goyal, as members of the panel.

According to the minutes, Bhide stated that the combined

shocks of the outbreak of the Russia-Ukraine war, the
continued presence of COVID-19 across countries, and the
tightening of monetary policies to control inflation in many
countries have made the global economic conditions
unfavourable for growth. He voted in favour of raising the
repo rate by 50 basis points and stated, "The worsening
global economic conditions have occurred at a time for us
when the domestic economy was beginning to retain its
development momentum after restoring the production level
in 2021-22 from the shocks of the Covid-19 epidemic. He
serves as Senior Honorary Advisor for the Delhi-based
National Council of Applied Economic Research.

According to Ashima Goyal, a member of the MPC and

Emeritus Professor at the Indira Gandhi Institute of
Development Research in Mumbai, one of the first effects of
raising policy repo rates should be on credit demand as
pass-through boosts lending rates. In order for India to
recover from its current deleveraging cycle, credit growth
must accelerate.

The MPC's subsequent meeting is slated around September

28–30, 2022.

WRITTEN BY
SNEHA JAIN

26
 28
OLA & ITS

ELECTRIC FUTURE
OLA going all electric in the future?

What’s up with the Scooters? Here’s

everything you need to know.

TECHX.

31
DIGITAL TWIN IN

AERO-SPACE: FT

PANINIAN

A new AI technology to revamp the way

we view space and the cosmos, using a

feature called Digital Twin- all by an

Indian startup incubated at the T-Hub!

OLA’s BIG

bet on

electric
future
On Independence Day this year, OLA Electric announced
that the company had confirmed the upcoming launch of
its EV car. The company says the vehicle will arrive in 2024,
with a range of 500 km. It also announced an S1 scooter
as well as a new battery.

Ola CEO and co-founder Bhavish Aggarwal discussed

bringing an EV revolution to India during the event. He
claims the company's Ola Future factory will be able to
produce one million EV cars in the future. Recently,
Agarwal has been posting teasers about the car
announcement for a while now. But the new EV car will
likely take some time before it arrives. But the car will only
launch in 2024, which means that it is still in the product
development stage.

According to Aggarwal, the Ola Electric car will sport a

futuristic design.

28/TechX
Insider reports suggest that the new car, which will have a
range of 500 km per charge and an all-glass roof, can go
from 0 to 100 km/hour in four seconds. It will have an
inbuilt Move OS and assisted driving capabilities as good
as any other car in the world and will be keyless, have
handless doors and feature assisted driving capability.

The company has also set a target to produce one million

electric cars, 10 million two-wheelers and 100 Gigawatt per
hour (GWh) of battery cells annually. Ola's ambitious
electric car project will see it building a new manufacturing
facility in Tamil Nadu, adjacent to its two-wheeler factory.

To beef up charging infrastructure across the Indian

landscape, Ola Electric is also launching around 100
hypercharge units to aid its new two-wheeler and four-
wheeler launches.

To disrupt the global EV ecosystem, which is solely centred

around the USA and China, Ola plans to launch its electric
car in the summer of 2024 and price it at less than $50,000
(roughly ₹40 lakh) compared with the global price tag of
around $70,000, its chief executive Bhavish Aggarwal
revealed.

In an EV ecosystem that is dominated by a few legacy

manufacturers, experts said the move could spice up
competition. Launching the vehicle will enable efficient
domestic supply chain management and provide more
options for customers.

The Indian electric vehicle market has been heavily

dominated by the Tata Nexon EV, which claims a range of
437 kilometres. The electric vehicle from Tata also goes
from zero to a hundred kilometres per hour in about 9.4
seconds.

29
Although that may make Ola Electric's new car sound
impressive, it is important to note that the Tata Nexon is a
compact SUV, and Ola is yet to confirm and reveal the form
factor of the model. A teaser image shared by Aggarwal in
July showed a hatchback. In the Ola Electric video, the
silhouette of the car appears to be a sedan with a fastback
roof. By 2024, these figures may be comparable to those of
other Indian electric vehicles.

Ola already has EV scooters in the market, though safety

concerns have been raised about these products in the last
few months. To mark India's 75th anniversary of
Independence, it unveiled an Ola S1 Pro Freedom. The
SoftBank-backed EV unicorn relaunched Ola S1 e-scooters
with new features, including music playback, navigation,
and reverse mode.

In an interview, Aggarwal tried to address those concerns

and defended the company's business model of selling
directly to customers without intermediaries. He
highlighted that the company would continue to use the
same delivery and service approaches for its e-cars.

He also hinted at electrifying Ola's ride-hailing fleet in the

coming months to align the business with the company's
overall vision of driving a revolution in electric mobility. He
said the company would soon announce its plans to foray
into the e-bike segment.

WRITTEN BY
PRATEEK PYNE

30
 Digital twins present several
options for organisations in
the aerospace sector from
extending the life of parts
and machines to using data
to better the next generation
of them.

Quantum
leap in
aero-space
Aerospace businesses can employ digital twins in R&D to
improve the engineering of new parts by simulating their
performance under a wide range of situations. The
knowledge is mainly gathered and applied to enhance
parts, forecast when maintenance is required, and increase
the life of machines, automobiles, and other devices.

In certain cases, machines in development will achieve

something no machine has ever done before, or they will
travel to regions where they cannot be tracked, such as
space. Companies may monitor their digital twins digitally
with 147% greater accuracy.

The use of digital twins in aerospace is opening up many

new opportunities by unlocking datasets that were
previously unattainable or extremely difficult to obtain, as
31
well as addressing many of the constraints of measuring
performance while a part or machine is in use.

This Indian Deep Tech start-up was recently awarded by

DPIIT's "Start-up India'' programme for its breakthrough in
the creation of State-of-the-Art Aero-Engines for Cruise
Missiles and Large UAVs. With a team of 35 engineers,
Paninian has begun the difficult journey of designing and
developing cutting-edge aero engines, also known as
turbofan engines, to power their essential defence
requirements. The team includes chief engineers with
experience and expertise from global OEMs, PhDs, and
talented graduates from international universities, including
students from IITs.

Paninian wants to build and produce these entire families of

engines ranging from 3 to 12 KN in India utilising cutting-
edge 3D printing technology. Paninian has successfully
proven the design and certification of a 4.5 KN Turbojet
Engine, which is being evolved into a family of engines with
3-12 KN thrust, as well as AI augmented digital twin
companions, for the first time in the Indian private sector.

As it satisfies the three benefits of digital twin that are

More Efficient Equipment Development: With a digital
twin and the data produced by sensors, aerospace
companies may test modifications to procedures to
boost productivity more effectively
Improve Efficiency: In addition to the foregoing, a digital
twin can be used to test changes to the overall efficiency
of a single machine or a fleet
Predictive Maintenance and Lifespan: Organisations can
use the data they have gathered to better anticipate
when a part or piece of equipment is getting close to the
end of its useful life and take proactive measures to
perform maintenance, order replacement parts, and
32
extend the life of those parts.

Another milestone is the development of an Artificial

Intelligence-driven Digital Twin for Legacy engine
performance modelling and prognostics, which will aid in
mission performance and life extension efforts for IAF
aircrafts such as the Jaguar, Sukhoi, and Mirage 2000. This
may now be used to examine engine extension and
substantially aid the IAF and Centre for Military
Airworthiness and Certification in their research on
performance degradation. Such Digital Twins, which are
necessary for cutting-edge Prognostics, Engine Health,
and Performance Monitoring, were designed wholly in India
by Indian engineers. India can now extend the life of
engines domestically and correctly without relying on

QUICK
outside aid.

TAKE
Dr. Gouda, a former DRDO Senior Scientist and Program
Director who is now a technology advisor for Paninian,
stated that such digital twins can also be 3D printed to
develop future power requirements of cruise missiles and
large UAVs for India as well as exports. "With design/
development centres in Hyderabad, Bangalore, and Pune, I
believe Paninian is ideally positioned to recruit the best of
global Indian talent in Engineering and Manufacturing to
join us on this exciting adventure.”

33
Raghu Adla, the founder, has expressed gratitude to several
senior Industry leaders from Lockheed Martin, GE, Rolls
Royce, as well as top leaders from DRDO, IAF, IIT, and IISc
research faculty who have been supporting the journey. He
emphasised on the need of the public sector supporting
such start-up endeavours through subsidies and access to
laboratories. He went on to say that “Paninian is looking for
prospective collaborations from both public and private
actors to assist scale the endeavour and get it to end users
as soon as possible.”

paninian
This discovery could help the country become "Atma
Nirbhar" in the strategic field of aircraft engines under the
"Make in India" programme. Adla is very delighted to
dedicate this creation to the country on the occasion of
"Azadi ka Amrut Mahotsav”.

Paninian will also take part in the upcoming August 2022

Wargame hosted by Insighteon Consulting, a pioneer
consulting business in Aerospace and Defence, to identify
hurdles to the development of indigenous aircraft engines in
India.

WRITTEN BY
HAYFA ASHRAF

34
NEWSFLASHX. 36
RAKESH

JHUNJUNWALA:

THE LEGACY

As the Big Bull passed away, here’s a

look at the legacy of Mr. Jhunjunwala

and why he carries the legendary

status!

40
ALL THAT

HAPPENED WITH

CHELSEA

One of the most loved Football Clubs

going bankrupt?! What is the Chelsea

Story and what happens to the

franchise?
The iconic Indian market investor Rakesh Jhunjhunwala
who was also known as the Big Bull or the Phoenix of the
Indian Stock Market passed away on August 14 at the age
of 62. The man passed away on Sunday morning. He was
also well-known for his stock picking abilities on Dalal
Street. When Rakesh was a college student in 1985, he
began trading stocks. At that time, the BSE Sensex was
about 150 points, and he started investing with ₹5,000.

Rakesh Jhunjhunwala's net worth, as of July 5, 2022, was

$5 billion, up 15% from $4.6 billion, according to Forbes.
Tata Tea was Rakesh's first significant success; in that year,
he earned a profit of ₹5 lakh. At a cost of ₹43 per share, he
purchased 5,000 shares in Tata Tea. Within three months,
the price of each share soared to ₹143, more than tripling

THE legacy of
his initial investment.

THE
IG
ULL

36/NewsFlashX
The Development of RARE Businesses:

In 1987, stock market investor Rekha Jhunjhunwala wed

Rakesh Radheshyam Jhunjhunwala. Rakesh Jhunjhunwala
founded his own stock trading company, RARE
Enterprises, in 2003. The title of the company is taken from
Rakesh's and Rekha's first initials. Together with his wife
Rekha Jhunjhunwala, the value of their shareholdings
currently exceeds ₹30,000 crore. Probably one of the most
sought-after commodities on the Indian stock market is
Rakesh Jhunjhunwala's stock list.

There are 33 equities in Jhunjhunwala's portfolio as of June

2022 where he owns more than 1% of the firm. We are all
now aware of his passion for the Tata organisation. With a
market value of almost ₹11,000 crore, Titan Company Ltd.
is the largest stock in Rakesh Jhunjhunwala's holdings. But
Rakesh Jhunjhunwala's holdings go beyond Tata shares. It
is the ideal combination of large, midsize, and small-cap
companies across several industries.

Jhunjhunwala has a large 23.37% stake in Aptech as of the

end of June 2022, according to the proportion of his
holdings. He owns 17.49% of Star Health and Allied
Insurance Company, 14.43% of Metro Brands, 12.62% of
NCC, 10.33% of Nazara Technologies, 9.81% of Rallis
India, 8.48% of Bilcare, 8.22% of Agro Tech Foods, 8.04%
of Va Tech Wabag Ltd., and 7.54% of Geojit Financial
Services. Additionally, he has stakes in several other
companies, ranging from 6.76 to 1.08%.

One of the various tools that may be used to increase

wealth and achieve financial independence is investing. To
master the game, though, they also need a high level of
financial intelligence and discipline.

37
However, in the long run, success
can be yours if you prepare well

5
and take a consistent approach.

1. India has never had a

cheerleader like him, and the fact
that he maintained his optimism all
the way to the end is evidence of
his unwavering optimism.
Optimism is the first skill needed to
thrive as an investor, and this was
evident in each of his interviews.

2. He also firmly believed that when

it came to buying stocks, one
should not follow the mob's herd
mentality. An investor shouldn't
only purchase a stock because a

THE

well-known figure is investing in

that company. Simply said, resist
the urge to join the crowd and give
in to passing trends.

3. Short-term trading cannot be

discounted because some people bull’s
quinary
do succeed financially. Early on,
Mr. Jhunjhunwala himself engaged
in short-term trading, and he
remained passionate about it all the
way up to his death because he
held the view that what the screen
says is more significant than what
people think.

38
4. His biggest gains have always come from investing in
undervalued equities, which suggests that it is always
preferable to believe in a company's story when no one
else does. He asked people not to worry too much about
what other people think of the stock if you think the
company has a lot of promise and that its prospects are
promising in the future. Keep in mind that historically,
Small-Cap companies were today's Large-Cap firms!

5. To invest only what you can afford to lose was one of his
success mantras. As many airlines have failed and some
are still fighting to turn a profit, many powerful people in
the airline business made fun of his investment in Akasa
Air. Jhunjhunwala, on the other hand, replied, "I'm taking a
measured and intentional risk, but at the same time I'm
also conscious about the potential rewards I can make."
Play this risk-reward ratio game, then, but only with the
money that you can afford to lose.

WRITTEN BY
HAYFA ASHRAF

39
Roman Abramovich, the Russian billionaire and major
shareholder of two-time UEFA Champions League winners
Chelsea, received sanctions from the UK parliament
following lengthy debates in response to Russia's invasion
of Ukraine. According to sources, Chelsea had a prior debt
of $23 million when Abramovich bought a 50% stake in the
club for $30 million but later managed to purchase it for
$140 million in June 2003. Since then, Chelsea FC has won
six English championships, eight FA Cups, five League
Cups, and two Europa Leagues in addition to two
Champions Leagues, two European Cup Winners' Cups,
and two Europa Leagues.

THE
CHELSEA
SAGA

40
In May 2022, Abramovich’s
Chelsea FC was purchased
for nearly $5 billion by a
group led by American
billionaire Todd Boehly.
Abramovich will no longer
receive the revenue of
Chelsea. This all started
during the Crimea annexation
by Russia in the year 2014
when the British government
had imposed sanctions on
over 48 companies. In
February 2022, the UK
government included five
Russian Banks and three
billionaires, including Roman
Abramovich. They were
interconnected to Moscow
during the first round of
retaliation for the Kremlin's
QUICK
invasion of Ukraine.
TAKE
Abramovich won an apology
in a defamation case over
British journalist Catherine
Belton's claims in her book
‘Putin's People’ about his
connections to the Russian
president. Following this
incident in the sporting world,
41
it was claimed that the
Russian billionaire had
purchased Chelsea on
Putin's orders. As a result,
the UK government issued a
statement claiming that
Abramovich is a "pro-Kremlin
oligarch" who "has a
decades-long close
relationship with Putin." Due
to his ties to the President of
Russia, Vladimir Putin,
overseeing the ongoing
invasion of neighbouring
Ukraine, the Russian
billionaire was hit with an
asset freeze, ownership of
the Chelsea club, and a travel
ban in March 2022.
'The Blues' has a handful of
expiring player contracts that
could be impacted by the
United Kingdom
government's sanctions
against the Russian club
owner.
According to public
information, Chelsea cannot
offer contract extensions to
their players. The sanctions
have put Abramovich's
attempts to sell Chelsea into
doubt, as they believe that
neither he nor the Russian
Federation will benefit from
the sale. The talks were
halted before Abramovich
was formally sanctioned
because the Russian had
already stated his desire to
sell the club. The club's day-
to-day operations will be
immediately impacted, and
42
Chelsea FC could not sell any
more game tickets, its
merchandise shop was also
closed, and it could not
purchase or market any of its
existing players on the
transfer market. The UK
government stated that under
a general license, the club
had been allowed to continue
operating as a football team,
which means they could still
play their games and pay
their players and employees.
The significance of these window transfers by 'The Blues' is
that they were very active in the transfer windows market
and followed the "one in, one out" policy for their transfers
and recruitments. They always prioritize bringing new
defenders to the club, given that the players are out of
contract by the end of each season. Roman Abramovich
wants Chelsea to be fruitful after he sells the club, which is
why he has been very selective about whom he sells to.
Since becoming a registered proprietor, Abramovich has
spent a significant amount of money on player acquisition,
which has been the driving factor behind their five Premier
League titles and two Champions League victories. Even in
the last year, he has ended up spending around £106
million, the majority of which was managed to spend on
Romelu Lukaku, with the remainder being the loan price for
Saul Niguez. According to the sources in The Mirror, one of
the requirements for any potential buyer is that the new
owner maintains the policy of investing in the playing group.
Abramovich hopes that the new ownership will stick to the
existing policies and drive the club to greater heights of
success.

WRITTEN BY
YESHASWINE TAMARAKOLANU

43
 45
THE NIMBUS
OSx -PLAINS
DEAL: A CASE
STUDY
As Google and AWS win the big bet of
cloud computing in Israel, what does it
mean for the workers and why are the
employees protesting about the same.

51
ROE VS WADE
OVERTURNED:
OSX-SPECIAL
With the ever controversial Roe VS
Wade case overturned, what does it
mean for the abortion rights of
American women and what’s the
impact of this decision worldwide?
Time to be Is-Real about the

Nimbus-DEAL
Written By

AYUSH NIGAM

CA E
TUDY S

45/CaseStudy
Nimbus clouds over MSFT
as Google and AWS win big
in Israel
and Microsoft were the two
The Big Tech Giants – Google
and AWS – won a $1.2 billion
tender to be the providers of
cloud services and peripheral
technology such as AI
algorithms to the Israeli
government agencies,
including the Israeli Land
Authority (ILA) and Israel
Defence Forces (IDF). The
contract involved the
provision of regional data
services out of centres in the
country, the Finance Ministry
said in a Press Statement.
Excellence – helping it form
Under Project Nimbus, IDF
will be receiving localized
computer infrastructure to
the cloud, while all the data
will be secured within the
boundaries of the state under
strict security guidelines.
Two of the biggest
companies in the name
leading the $150 billion cloud
market (AWS and Google
ranking 1st and 3rd
respectively, having a and integrate a cloud-based
combined worldwide market
share of 41%) will build a
cloud centre and provide the
Government, the public
sector, IDF and other bodies
46
with their services. Oracle
major companies that lost
out on the deal. MSFT waged
a PR campaign challenging
the decision as well; CEO
Satya Nadella is reported to
have a conversation planned
with former Prime Minister
Benjamin Netanyahu
regarding the same.
In addition to this, KPMG
won the bid for the second
tender which would allow it
to set up a Cloud Centre of
government strategies to
move frameworks to the
cloud. This bid also involved
a number of names, including
EY, McKinsey and HPE, as
reported by the Ministry.
In addition to the tender, the
government is set to choose
a number of SMEs and local
suppliers to help the
government move systems
system.
Talks of a fourth tender are also underway, with very limited
information about the same being disclosed.

Intricacies of Nimbus Project

The project is consistent of four parts primarily

1. Creation of cloud infrastructure

2. Formulating government policy for cloud migration

3. Subsequent integration and migration to the cloud

4. Implementing control and optimization of cloud services

Poised to be one of the Nimbus which led to the
country’s biggest IT projects, ticker closing around $108 as
it will help Government of 9th September 2022.
Ministries and public entities Amazon saw a rise from $120
to transfer servers and to $183 in the same time
services into the cloud which frame, and a subsequent dip
will be set up by the firms to the current $129 per share
that have won the long- valuation.
waging bid, the silence over Amazon (AMZN) is reported
which has caused suspicions to have built three data
in the employees of GOOG centres while Google is set to
and AMZN. spend hundreds of millions to
The stock tickers of the two take the cloud live in the
companies have also taken a country in addition to the
boost after the $400 million on the Blue
announcement of the deal on Raman Cable, connecting
21st April 2021. Alphabet’s India, Israel and Italy.

stock rose from $115 all the While Oracle and Microsoft
way to $148 as of 10th are already working on the
December 2021. cloud platforms in the
Subsequently, there was a fall country – with Oracle (ORCL)
in the stock price due to a opening an Israeli cloud
variety of factors, perhaps region in Jerusalem and
including the employees MSFT building one – the blow
voicing their opinions about led to these companies
appealing the contract award.
47
MSFT
A Public Relations Campaign

SALTY
was waged by both MSFT
and ORCL, in an effort to
challenge the results of the

ABoUT THE
tender. MSFT alone employs
tens of thousands of people
in Israel and both parties (the

DEAL?
company and the state) have
prospered due to this
partnership.
Many thought that the tender was set to go to the
company, but reservations crept in when there were
arguments among the two in the past regarding a software
licensing deal.

1. Controversy spark - Jewglers workers’ protest

a. No Tech for Apartheid – what it means for Google

Source: Ministry Of Comunication, Israel

The Intercept reported that GOOG is offering AI and ML

algorithms to the Government, which could augment the
country’s use of digital surveillance in occupied Palestinian
territories. The timing of the deal also was unfortunate – in
the middle of the worst violent times in the Israel-Palestine
Conflict since 2014, the Government announced the
completion of the deal. Allegations of ‘Apartheid’ have also
been launched against the Government by Amnesty
International and Human Rights Watch, while
48
leaders like the former PM called the criticism an as ‘anti-
semitic’. The contract sparked a number of controversies,
including but not limited to clauses limiting Google’s ability
to refuse service to the IDF as well as clauses preventing
the firm from backing out of the contract, once signed.

Among an internal Google affinity called Jewglers (Jewish

Google employees), Ariel Koren spoke out about the
company’s relationship with the Israeli military. She was
subsequently put on moderation a month later, which led to
her being banned from participation in the affinity group.

Source: Twitter.com

@DropNimbus, a Twitter handle voicing the pitfalls of this

contract and demanding the company ends the contract
recently put out a video wherein anonymous Google
employees opened up about the issue - “If Google truly
believes in avoiding unjust impacts through the use of their
AI, then why are they choosing to profit from a billion-dollar
company with a government and military which
consistently violates military law?”.

49
“The minute that this contract was announced, Google has
had a very tight lockdown on information and has created a
culture where it’s impossible to have any sort of
transparency as a worker,” a post said, highlighting the
views of a Google employee. In the context of AWS, Bathool
Syed, a content strategist at Amazon also spoke about the
$1.2 billion contract, wherein she pointed out that the
workers were unaware of the happenings that the company
was undertaking.
“Overarching cloud services and data centres are being built
for the IDF, the Military, and ILA (Land Authority). Hostilities
have hit civilian targets and hospitals which will be furthered
by this deal. ILA enables the expansion of the segregated
settlements, which is in violation of International Law and
US Policy.” The contract includes provisions which don’t
allow either company to pull out, which is based on the
knowledge of the backlash from activists.

This means that the intricacies also make it incredibly

difficult for either company to back out in case the
employees succeed. The larger question this begs is – What
does the future hold, both in terms of the Israel-Palestine
conflict and the role of Big Tech in it?

WRITTEN BY
AYUSH NIGAM

50
ROE.vs.WADE.
Written By

CHAHAT GUPTA

O
XS
PECIAL
51/OSxSpecial
USA wakes up with Lesser
Rights
politicians may also ban
The Supreme Court of the
United States of America
overturned its ruling of Roe v.
Wade, which made abortion
a Constitutional Right under
the Fourteenth Amendment,
in 1973. The Court arrived at
a 5-4 majority on 24th June
2022, rescinding the right to
an abortion during the first
two trimesters of pregnancy
for American women. Justice
Samuel Alito wrote, "It is time
to heed the Constitution and
return the issue of abortion to
the people's elected
representatives", thus giving
the States the autonomy to
conceive separate abortion
laws.
The recent judgement will
have adverse consequences
for people of colour, and the
lower and middle-income
class, since nearly 75% of
abortion patients lie below
the federal poverty level. It
will also impact those who
already face difficulty
accessing healthcare, like
those belonging to the
LGBTQ+ community, people
in rural communities and the
younger generation. In some
52
conservative States,
Emergency Contraception,
which is taken within 72
hours to prevent pregnancy
in case of rape or abuse.
It was allegedly Dobbs v.
Jackson Women's Health
Organization, related to the
Mississippi Gestational Age
Act, that bans abortion after
15 weeks of pregnancy, that
triggered the nullification of
the Roe judgement. The
decision abandons a 50-year
legacy and will have far-
reaching consequences for
millions of Americans.
What is Roe v. Wade?
The 1973 Roe v. Wade case
involved a Texas woman who
sought a legal declaration
that State laws prohibiting
abortions were
unconstitutional. The case
began in 1970 when "Jane
Roe" undertook legal action
against Henry Wade, the
District Attorney of Dallas,
Texas. While arriving at a
verdict, the Supreme Court
tried to balance a woman's
Right to Privacy with a
State's interest in regulating
abortions.

Justice Harry A. Blackmun The Court has previously

wrote that only a "compelling overruled Plessy v. Ferguson
State interest" justified the (1896), which allowed State
curtailment of any segregation laws and Brown
Fundamental Right. Finally, v. Board of Education (1954),
the Supreme Court arrived at which ended racial
a 7-2 majority on 22nd segregation in public
January 1973, announcing schools.

that unreasonable and

restrictive State laws against However, the present cohort
abortions were of Justices primarily supports
unconstitutional as they a more conservative ideology
violated a woman's that facilitated their actions
Constitutional Right to during the case. A
Privacy, a Fundamental Right pronounced ideological shift
under the Fourteenth came when Justice Ruth
Amendment. The final verdict Bader Ginsburg, a leading
by the Supreme Court advocate for abortion rights,
allowed women to procure died a few weeks before the
abortions until 24 weeks of 2020 elections. She was
pregnancy. succeeded by Justice Amy
The Politics behind the Barrett, a conservative
Decision
appointed by President
The Supreme Court has deep Donald Trump. The two other
respect for past judgements. Justices appointed by
Generally, it avoids overruling President Trump, too, voted
past precedents to promote in favour of overruling Roe v.
stability and prevent societal Wade. President George H.
disruptions, despite the W. Bush appointed Justice
intentions of a later group of Alito and Justice Clarence
Justices. However, previous Thomas, thus, making the
judgements can be panel highly conservative and
overturned if a majority of Republican. However, Chief
Justices provide Justice John Roberts, along
exceptionally valid arguments with three liberal justices,
for doing so. Stephen Breyer, Sonia
53

Sotomayor and Elena Kagan, dissented. The current panel

of judges also drew scrutiny from critics, who believe that
the Supreme Court is progressively getting politicized and
biased. Some also expressed concerns about unreasonable
future rulings since Justices are appointed for life.

QUICK
TAKE
Recent years have seen a distinct division of opinion
between the Republicans and the Democrats on the topic of
abortions. 82% of Democrats, who preach a liberal
government structure, disapproved of the Court's decision,
whereas 70% of Republicans supported the judgement.

Further, this decision fulfils Trump's dream and promises to

his evangelical Christians and Republican constituencies. He
claimed that the decision was "only made possible because
I delivered everything as promised." He appointed three
Justices using his political connections with the Senate
Republican Leader Mitch McConnell and several other GOP
politicians, who permanently altered the Senate rules, thus
enabling the nomination.

“Because of Donald Trump, Mitch McConnell, the

Republican Party and their super-majority on the Supreme
Court, American women today have less freedom than their
mothers,” House Speaker Nancy Pelosi said in a statement.

Public Reaction and Consensus

54

The public widely disagrees with the decision since 62% of

women believe that abortions should be legalised. A survey
organised by the Pew Research Centre reported that 57% of
Americans disapproved of the Court's decision while only
41% approved it. The result concluded that adults below 30
are more likely to disapprove than their older generations. A
significant division of opinion amongst people of different
ethnicities and cultures was also seen, with Asians and
Blacks opposing the decision with 72% and 67% majority,
while only 27% of White evangelists in support. Most
citizens (70%) with graduate or postgraduate degrees said
that abortions should be legalised in comparison to high
school students (38%).
The Future of America without Roe

Abortion laws differed greatly across America before 1973,

but Roe v. Wade judgment established a legal framework for
abortion at the federal level. However, Supreme Court's
recent decision gives the States the autonomy to develop
separate abortion laws. As a result, abortion was
immediately banned in the 13 States that undertook "trigger
laws", while most States have imposed mild to severe
restrictions. Only six States allow abortion at any stage of
pregnancy. Moreover, the decision will have far-reaching
consequences for the November Midterm elections, with
intense discussions in the State Legislative Assemblies.

55

Nearly 63,000 abortions occur annually after 15 weeks of

pregnancy in the US. Moreover, a recent study in Colorado
depicted that childbirth has a 14 times higher death risk
than abortion, thus implying that the Supreme Court has
now put its citizens at significant medical risk.

Source: PEW Research Center

A comparative examination by The Turn Away Study

followed the journey of nearly 1000 women who were
allowed vs denied abortion over the last five years. The
report concluded that the women who were denied abortions
faced severe economic hardship and insecurity, with a higher
chance of bankruptcy and evictions. They had a higher
chance of connecting with abusive partners, thus further
hampering child development and well-being. These women
were also reported to suffer from physical or mental
disorders.

This also implies that doctors and physicians providing

reproductive healthcare services will have to relocate to
States pro-abortion or retire. Other clinical staff like nurses,
medical assistants and social workers are rapidly losing their
jobs along with the financial security to provide for their
families.

56

 Source: Statistia.com/Forbes

Furthermore, most people do not develop any pregnancy

symptoms until the 12th week due to the intake of certain
kinds of medications or lifestyle patterns. This prevents
them from getting an abortion when they need one. As their
pregnancy term increases, so do the financial investment
and the complications in medical procedures. Moreover, the
US government does not allow individuals to use Medicaid
(medical and healthcare insurance) to acquire abortions.
Since most people cannot afford an abortion, gathering the
money to pay for one is extremely hard. And thus, this
vicious cycle continues…

Additionally, criminal jail time has been imposed as the

penalty for violating the abortion ban. This has resulted in
major complications or deaths of pregnant patients who did
not receive the appropriate life-saving healthcare within
time.

57
It is evident that instead of establishing restrictions on
abortions, the Court should have made it more accessible
by reducing the cost of medical procedures and offering
regular checkups and medications to pregnant individuals.

President Joe Biden said that the judgement marked a

"solemn moment for the Court and the Country". However,
he also stated that the recent ruling did not prohibit women
from travelling to other States to acquire an abortion in
cases where their Home-State restricted her. This will cause
an increase in the influx of patients in States where
abortions are allowed, to the closing down of clinics in
States where abortions have been illegalised.
Overturning Roe v. Wade may also have cascading effects
on other rights listed under the Fourteenth Amendment, like
"marriage across racial lines", to "access to contraception"
(recognised in 1965), and to "same-sex intimacy and
marriage" (recognised in 2015). Justice Alito Thomas urged
his colleagues to "overrule other precedents at the earliest
opportunity".

Justices Stephen Breyer, Sonia Sotomayor and Elena Kagan

wrote. "Whatever the exact scope of the coming laws, one
result of today's decision is certain: the curtailment of
women's rights, and of their status as free and equal
citizens. After today, young women will come of age with
fewer rights than their mothers and grandmothers had."

WRITTEN BY
CHAHAT GUPTA

58
 60
FACULTYX
TAXING THE
CRYPTO
CURRENCY?
The Head Of the Department Of
Management Studies,

Prof. K.Vidyulata Reddy, writes

about the new taxtaion laws on
cryptocurrency and its imapct on
the investors.
Taxing
Cryptos?
Reserve Bank of India intended to ban virtual currency
exchanges as it believes Indian cryptocurrencies
transactions need to be halted, and it felt that it can be
done by imposing ban on virtual currency exchanges.
Reserve Bank’s assumption is that these currencies with
huge growth potential will challenge the dynamics of
Indian economy in future, hence they imposed a ban on
these exchanges. The virtual currency exchange traders
feel that this move to ban the exchanges is against the
spirit of the Indian constitution as it infringes their freedom
of trade. There were many curious questions that arose in
this debate before the Court including, if crypto currencies
are not currencies can Reserve Bank impose a ban on
them? Indian government is apprehensive that crypto
currencies will be a threat to the national economy as they
believe that it can be used for financing illegal activities
and also to channelize the ill-gotten money. The need for
banning them arose from these possibilities. While it is true
that these can be used for these purposes other currencies
also can be put to this use, however the cryptic nature of
these transactions enhances its chances further. However,
an apprehension or a mere hypothetical assumption of
crypto currencies being used for these purposes will not
be suffice to establish proportional legal damage required
to ban them altogether. Hence the Supreme Court of India
could not rescue the ban imposed by the Reserve Bank of
India.
60/FacultyX


If we consider crypto currencies as virtual assets capable

of being transferred across jurisdictions can Indian
property law or tax law or other Indian laws, be made
applicable to them. The matter becomes more complex as
these are more volatile transactions capable of being
transferred without knowledge of the Regulators. However,
besides all these odds the Government of India imposed
tax on crypto holdings considering them as virtual assets
and also imposed transactions charges.

QUICK
TAKE
This move while brought the much-needed respite to the
fact of India’s long-term status as regulated economy, the
down side of it is the shifting of many assets from their
earlier holdings to new foreign exchanges which are more
liberal on levy of charges and imposition of taxes. This
requires us to re-examine the government action and the
proposed outcome of the action, simply put did India
achieve what it actually intended with this move. The
Government will keep facing more challenges as the
complexity of these transactions enhance and when
cryptos currencies enter into markets such as
securitizations, derivates, commodities exchange etc. So,
what exactly was Government’s intention in regulating
them through taxes; was it drifting them away from the
Indian market, or regulating the underlying transactions, or
revenue generation. Tax law’s primary goal always has
been revenue generation and penal actions were
secondary to them and limited to checking the violations.
61
While the concern here is more for regulating the
transactions but the route for regulation was an economic
model. Market regulation model envisages markets to take
care of the activities, however economic model regulation
envisages regulators to control market transactions. The
Government’s move presents the picture of economic
model but the activities post this regulation gives the
impression that stakeholders have driven it as a market
model regulation. Then looking back to our question
whether we achieved our intended goal, firstly we could
sense the stakeholders feeling that Indian market is no
more a safe heaven for them and they need to move to
other jurisdiction based exchanges gives the impression
that may be we retained our dominance as regulator,
secondly the fact that Indian transactions are routed
through other jurisdiction based exchanges escaping the
Indian regulatory regime while complying with it
showcases the lacunae and the need to re-examine our
regime. Crypto currency regulation remains a challenge to
the Indian government in the near future until we graduate
to a complete situation where we encrypt the whole
transaction and regulate it or we allow the encrypted
transactions to happen, both of which seems highly
unlikely at this point of time given the nature of their
evolution and transactions. The other alternative
possibilities are we keep fine tuning our regulatory
measures until we achieve our intended goal keeping in
mind that goals are also subject to change in any given
societal structure from time to time. We can remain
inconclusive hoping to get better with each learning
experience and with the solace that we are capable of
checking illegal economic activities within our jurisdiction!
WRITTEN BY
PROF(Dr.) K.Vidyullatha Reddy
Head, Department of Management Studies

NALSAR University of Law

62
 64
RESOURCEX. READINGS IN

FOCUS

65
WATCHLIST

66
AUDIOLIST

67
OSX-AUDIO

SPECIAL
READINGS
B O O K S I N F O C U S

Think and Grow Rich

Napoleon Hill
Think and Grow Rich is a book published in the year 1937
which still holds true in today’s world. The book basically
talks about how desire is the starting point of all greatness
and that keeping high expectations from one’s desires and
hopes would lead to greater results. It also mentions how
team efforts matter in any situation as they would result in a
better outcome than the one that an individual could
produce.

Atomic Habits

James Clear
Clear is renowned for his ability to reduce difficult subjects to
straightforward actions that can be used in both daily life and
the workplace. Here, he applies the most scientifically
supported theories from biology, psychology, and
neuroscience to produce a simple manual for making good
habits inescapable and bad habits unavoidable, by genuine
accounts of ordinary people who used the science of little
habits to perfect their trade and rise to the top of their
industry.

As a man thinketh

James Allen
In this book, the author emphasises how one thinks. He
believes that one’s way of thinking defines what decisions
one makes and how one would lead their life. If a person has
negative thinking, then it would lead to more negative
feelings in their lives, the same goes for positive thinking.
Hence, Allen focuses on conveying to his readers that they
should focus on positive thinking and the process of it
should have the ultimate goal of happiness and self-growth.

64/ResourceX

 WATCHLIST
TA L K S I N F O C U S

How to stay calm when you know you’ll be stressed : Daniel Levitin
Be optimistic, but be ready for the
worst. It is best advised to take a
step back and do a pre-mortem
process before commencing any
essential job and to prepare for the
worst while dealing with important
issues at work, in our personal lives,
during important exams for
students, or when we have to
present an interview. Before
beginning any demanding work, it is
really important to organise our
ideas and create an action plan. The
speaker advises us to use the 5S
technique, which will assist us in
handling our money and time.

How To Eliminate Self Doubt Forever & The Power of Your

Unconscious Mind : Peter Sage
In his TedTalk, Peter Sage gives an
inspirational talk and points out how
people never rise above the opinion
they have of themselves which has
been built over the growing years of
their lives. He talks about the default
setting known as habits that we have
on our ‘life compass’. When we take
the needle of the compass and move
it in different directions to make a
change it is known as critical thinking.
He gives away three-pointers to make
changes in our lives to tackle
Environment Trump’s Will and ends
the talk by quoting “be the change
you wish to see in the world”.

The content/material/videos/photos provided/displayed herein is solely owned and copyrighted by TED.

OutsightX is using the content under the CC (creative commons), BY-NC-ND-4.0 International License.

Further information can be found here: TED Policy for Non-Commercial Usage.

65

 AUDIOLIST
P O D C A S T I N F O C U S

The Happier Podcast

395: Stay Aware of STUFF, How to Make

Time to Rest, And What to Say If You’re at a
Loss for Words

The podcast is an amalgamation of self-realisation and

solution-provider of the scenarios we experience while
dealing with STUFF (Stress, Time-constraint, Uncertainty,
Fear and Fatigue). It gives a new perspective on how one
can deal with these everyday problem creators by taking
a step back and working on it in a newer light. The
podcast digs deeper on the importance of relaxing,
mentally and physically. It ends with a note on how one
can deal with situations where you are in a dilemma of
what to say.

66

 FT.SKYLE
OSX SPECIAL FEATURE

A new single called

666KYOTO
by
SKYLE aka Chethas K Genius !

https://linktr.ee/SkyleMusic

67
 69
IPM INTERNSHIP

EXPERIENCES!
What happens when 60 1st Year University

Students head out for their first ever rural

NGO internships? Read to find out.

NALSARX.

73
INSIGHTS by OSX
An attempt to highlight the internship experiences

of the students of the first IPM batch at NALSAR

University Of Law. OSX Insights is for those who

wish to make a difference in the world !

75
SO CLOSE YET

SO FAR!

A technical glitch in the podcast recording did not

deter Maninee’s spirit in explainig her experience

at Jatan Stanstan, as she spent 45 days, embracing

Udaipur and learning vivid nuances about lives of

the people there.

RURAL
INTERNSHIPS
IPM@NALSAR
The IPM Batch of 2026 had a wonderful time interning at
society-driven workplaces during their summer break.
They were divided into groups and assigned to various
NGOs across the country. These internship opportunities
were aimed at providing hands-on experience of rural
settings, cultures, and lifestyles. Let’s dive into some of
these location experiences in depth.

The internship at Rangsutra Crafts, New Delhi, enabled

an exciting and enlightening experience for the students.
They got to work directly with the top management of
the organisation and gain valuable insights. They were
given the opportunity to visit the company's clusters in
Mirzapur and Gyanpur, which allowed them to interact
with the artisans and observe the traditional crafts and
handiwork, as well as document their experiences,
stories, and hardships. The time at Rangsutra has been
extremely enriching for them because it has allowed
them to explore the production process from the
grassroots level.

69/NALSARx

UMANG, Ranikhet too offered an enriching experience to

the interns. The opportunity to step out of our comfort
zone while staying at a remote location away from home
made them aware of the innumerable challenges that are
faced on a day-to-day basis by numerous women. It
served as a wake-up call to the hill women's sheer
determination and perseverance in not only ensuring their
financial independence but also empowering their
communities to be strong and independent. Ultimately,
working and researching at this women-led organisation,
provided them with enough impetus to take away their
learning and implement it in their everyday lives.

70
Interning at Urmul Seemant Samiti, which essentially
works to change the world of people living in the
western part of India, was a life-changing experience for
the students. They got to know about an integral part of
society, the farmers and herders of Rajasthan, learning
about their day-to-day hardships and struggles, and
most importantly, trying to help them in any way
possible. As a result, they came up with a business plan
on slurry, policies against sexual harassment in the
workplace, data protection policies, and many more for
the organisation itself, as well as some real-life case
studies. The best part for them were the field visits,
which were surreal and full of knowledge, in which they
interacted with locals. They became a part of such a
beautiful family as interns, and the internship instilled in
them a sense of righteousness and humility.

71

Another group of IPM interns presented final models at

BAIF, Lachhakadi headquarters. These models included
an Apiary Business Plan, a Creeper-Trellis Model, and a
Sustainable Agricultural Model to provide farmers of
Lachhakadi with an annual revenue of 5–6 lakh p.a. from
a land of 2 acres. The students got immersed in the
Standard Agricultural Model and studied its efficacy,
including analysing the supply chain for agricultural
products, determining the viability of apiary businesses
in the district, and adding farm products using the Trellis
Model. Additionally, they interacted with the farmers,
helped with the cooperative's functioning, and altogether
took in the culture of Navsari before formulating plans for
its development.

Yet another summer internship at People’s Science

Institute yielded a great learning experience where
students worked on the Hindon River Basin Research
Project. Understanding the importance of village
cropping patterns and time trend maps and then visiting
numerous places such as Shamli, Muzaffarnagar,
Baghpat, and Meerut and other villages along the
Hindon river and its tributaries provided them with great
insight into how research is conducted and how much
effort is put into every single step. This also enabled
them to learn some helpful research techniques such as
resource mapping and stakeholder analysis, that
facilitated understanding on how multiple factors have a
cumulative effect on the water quality of any river.

WRITTEN BY
PRIYANSHI NAGPAL

72

One of the major happenings in the world of OutsightX is

centred around the advent of an extension to the
offerings, i.e., the launch of Insights by OSX, a one-stop-
shop podcast for everything to know about the first-year
IPM students of NALSAR. This is specially crafted for
those who aspire to make a difference in the world.
Herein, we make your journey easier by giving you a
starting point. The podcast would compel you to ponder,
tinker, experiment, and inspire. As we release fresh
episodes every week on YouTube, Spotify, Apple Music,
and RSS, we aim to provide you with a more intricate
peek into life at DoMS NALSAR. Each episode is a fine
mixture of stories, experiences, events, student life, and
whatnot!

73
The very initial episodes revolve around the NGO
internship life of the IPM students at NALSAR, wherein
they share their insights of interning across the rural
landscape of India, grabbing the opportunity to leave an
impact at the grassroots level. The NGO list includes
prestigious organisations like People’s Science Institute,
Bhartiya Agro Foundation, Malabar Regional Cooperative
Milk Producers' Union Ltd, Rangsutra Crafts, Urmul
Seemant Samiti, Umang, Jatan Sansthan and others. The
respective locations of these NGOs, right from Dehradun,
the scenic western ghats, the northern districts of Kerala,
Delhi, Bikaner, and Uttarakhand to Udaipur, were not only
picturesque but also contributed to ensuring a remarkable
experience throughout.

The wide range of experiences that students

encountered, from being a part of the trailblazing
initiative, developing plans for rural livelihoods, learning
the intricacies of production processes, living a simplistic
and rustic life, developing modules, learning a rich
melange of techniques, and developing a sensitive
approach to recognise the socially evil, to participating in
various campaigns, made the internships worthwhile. The
episodes would also include our knowledgeable faculty
members sharing their experiences with the IPM batch,
the course vision, and DoMS NALSAR.

A 15-strong team facilitated the whole project, putting a

great deal of effort into ensuring perfect set design,
camera work, props, marketing, schedules, interview
skeletons, flashcards, video editing, and behind-the-
scenes shots. Ultimately, the guests, host, and backend
team that essentially comprise the project family turned
all this into success.

WRITTEN BY
PRIYANSHI NAGPAL
 JATAN

EPISODE 8
SANSTHAN

Bringing about social change has always been arduous,

in which the NGOs across India have played a major role.
One of those NGOs is Jatan Sansthan, which played a
vital role in uplifting the economically weaker sections of
society. Jatan, primarily meaning effort, is the perfect
semblance of what the organization seeks to achieve in
order to bring about meaningful social change in
Rajasthan. Since its inception, Jatan has played an
active role in creating initiatives that improved social and
demographic factors in the State by working with youth
groups. Working on youth and women empowerment
programs in the field of health and education, this
organization has helped work towards the upliftment of
1200 villages.

75
Maninee worked with the organization for a span of 45
days in Rajasthan and saw the work and the problems in
the grassroots situation firsthand.“Their hearts are so
giving, which made the process of working with them very
eye-opening. At the same time, I came across a lot of
situations where I was made to question a lot of the things
that I believe in.” She said, in a conversation with Ayush.

From being a part of the Panchayat system and finding

out the problems of the villages in her allocated area,
including sanitation and literacy to trying to establish a
connect with the people despite the language barriers,
she has gained a lot of insights about the process of
finding loopholes in the system to designing methods to
fight them.

76
Apna Jatan Kendra, as she explained, was also one
additional project she took on. “This was an educational
center which tried to give an initial push to the people
from rural areas towards schooling. It’s like a pre-school,
but more geared towards a nudge towards lifelong
learning. When the time is right, the representatives then
talk to the parents and get them enrolled in schools in
the surrounding areas.” She said, sharing her
experiences about her internship. Another aspect that
brought her immense happiness was the instance when
10 students from her batch enrolled in school. “My
contribution is so little when compared to the people that
work towards social upliftment full time at Jatan, but the
fact that something I did caused a meaningful change in
someone else’s life brought out immense joy in my heart.
I will be returning sometime soon to see them and find
out what their experience has been like.”

WRITTEN BY
AYUSH NIGAM

MANINEE RAJ

77
 Ayush
Sneha

Head Coordinator Head Coordinator

Pranav
Harshita

Head of Design Senior Consultant

Escandita
Shubhangi

Head of All Operations Editorial Head

 Priyanshi
Prateek
Nishita

Senior Executive Core Member Core Member

Vinayak
Chahat

Core Member Core Member

Yeshaswine
Hayfa

Core Member Core Member