<div>Sahara group chief Subrata Roy surrendered two days after the Supreme Court issued a non-bailable warrant against him for failing to show up in court. He will stay in police custody till 4 March. Roy was summoned in a case relating to Sahara’s non-compliance with the SC’s judgment, directing two group firms to deposit Rs 24,000 crore with markets regulator, the Securities and Exchange Board of India. His request to be exempted from personal appearance was rejected.<strong><br /></strong><br /><strong><strong><img width="120" vspace="6" hspace="6" align="right" height="120" src="/image/image_gallery?uuid=91c47f63-72cb-455d-ae43-3a9f90dca890&groupId=520986&t=1394012057405" alt="" /></strong>Gender Bender</strong><br />Honda Motors appointed a woman board member, Hideko Kunii, 66, a professor at the Shibaura Institute of Technology, to the all-male roster for the first time in its 65-year history. She will also be the first woman director at a big Japanese carmaker; neither Toyota nor Nissan has ever chosen a woman for their top boards. Kunii will be the second director from outside Honda to serve on its board.<br /><br /><strong>Sticky Wicket</strong><br />Indian batting legend and Rajya Sabha member Sachin Tendulkar, it appears, had no ideas when it came to development projects for suburban Mumbai. Entitled to Rs 5 crore a year under the Member of Parliament Local Area Development Scheme (MPLADS) since 2012, Tendulkar failed to put the funds to use in his chosen area. While the funds for last year have already lapsed, those for current fiscal face the same fate.<br /><br /><strong><img width="120" vspace="5" hspace="5" align="right" height="120" src="/image/image_gallery?uuid=c0585856-2800-47db-861c-fc4f30e28793&groupId=520986&t=1394012113587" alt="" />On ‘The Italian Job’</strong><br />Italy’s youngest-ever prime minister <span style="color: rgb(128, 128, 128);"><strong>Matteo Renzi,</strong></span> 39, and his young 16-member cabinet were sworn in amid widespread scepticism that the team does not have the political maturity to tackle the country’s formidable challenges. In the lower house, Renzi got 378 votes in favour and 220 against, while in the Senate he won by 169 to 139, a thinner-than-expected result. A former mayor of Florence, the centre-left leader has already pledged tax cuts and investments worth over €100 billion.<br /><br /><strong><img width="120" vspace="6" hspace="6" align="right" height="120" src="/image/image_gallery?uuid=bc7a9540-03b1-41f4-8f56-0cbb84c702f5&groupId=520986&t=1394012159224" alt="" />In A New Ring</strong><br />Former World Boxing Council heavyweight boxing champion and Ukraine opposition leader Vitaly Klitschko, 42, will run for the presidential elections in May 2014. For the 6-foot-7 father of three, this isn’t the first foray into politics; he made a bid to become the mayor of Kiev in 2005 — the first of three failed runs for the post. Klitschko represents the group of Ukrainians who seek closer ties with the West and a relationship with the European Union. In a New Ring Former World Boxing Council heavyweight boxing champion and Ukraine opposition leader Vitaly Klitschko, 42, will run for the presidential elections in May 2014. For the 6-foot-7 father of three, this isn’t the first foray into politics; he made a bid to become the mayor of Kiev in 2005 — the first of three failed runs for the post. Klitschko represents the group of Ukrainians who seek closer ties with the West and a relationship with the European Union.<br /><br /><strong>Vegas In Tokyo?</strong><br />Gambling mogul Sheldon Adelson is willing to invest $10 billion to put up a casino in Japan, the world’s third most prosperous economy, as it gets closer to legalising casino gambling. The chief executive of Las Vegas Sands (LVS), the largest casino developers in the world, wants to build gambling resorts in Tokyo and Osaka.<br /><br /><strong><img width="120" vspace="6" hspace="6" align="right" height="120" src="/image/image_gallery?uuid=aedc1bd5-6efb-49e6-9eab-7c93caa47d03&groupId=520986&t=1394012200161" alt="" />Fraud Fallout</strong><br />Saradha Group chairperson Sudipta Sen has been sentenced to three years’ imprisonment and a fine of Rs 10,000 after he confessed to flouting provident fund guidelines. This is the first sentence handed down to Sen, who faces a string of complaints in connection with a Rs 20,000-crore ponzi scam that duped around 1.7 million investors. Sen admitted that various arms of the group did not deposit money deducted from employees’ salaries to their provident <br />fund accounts.<br /><br /><strong>Stepping On The Gas</strong><br />Billionaire entrepreneur and CEO of Tesla Motors, Elon Musk, 42, made $1.1 billion in the course of a day after the company’s shares gained nearly 14 per cent on 25 February. The haul brought his net worth to $11.7 billion, up 47.8 per cent since January 2014. Musk owns 23 per cent of the electric car manufacturer.<br /><br />(Photographs by Bivash Banerjee, Getty Images, Reuters, Bloomberg, Honda)<br />(This story was published in BW | Businessworld Issue Dated 24-03-2014)</div>
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