After Ahmed Patel’s victory D K Shivakumar emerges as a Cong hero

coastaldigest.com news network
August 10, 2017

Bengaluru, Aug 9: Vokkaliga strongman D K Shivakumar, who indirectly played a key role in the decisive victory of Congress veteran Ahmed Patel in Rajya Sabha elections from Gujarat, has now emerged as a hero among Congress leaders at national level.

The Energy Minister of Karnataka, who had to face the wrath of Centre’s ruling BJP in the form of I-T department raids, has also consolidate his position in the party ahead of looming Assembly polls.

Shivakumar is understood to have received a pat on his back from the Congress top brass, including AICC president Sonia Gandhi and her political secretary Ahmed Patel, for his efforts in hosting the Gujarat Congress MLAs at a resort near Bengaluru. Both Sonia and Patel are learnt to have called up Shivakumar on Wednesday and congratulated him. Ahmed Patel was the party candidate in the election.

Shivakumar took up the responsibility of safeguarding the Gujarat MLAs when there was a threat of them being poached by the BJP in Gujarat. Though he was away in Singapore, Shivakumar cut short his tour, rushed to Bengaluru and assumed charge of the MLAs. He, along with his brother and Congress MP D K Suresh, ensured that MLAs are safe despite Income Tax department raids on him for three days.

In fact, Shivakumar has proved himself as a crisis manager for the party on many occasions in the past. He had hosted around 70 Congress MLAs from Maharashtra during a political crisis in 2002. In 2014, Shivakumar ensured the victory of the party candidate in Bellary Rural Assembly constituency, which was considered the fiefdom of Ballari Reddy brothers. He is also credited with the party’s victory in the recently held byelection to Gundlupet Assembly constituency.

Ever since senior leader S M Krishna quit the Congress, Shivakumar has been trying to position himself as the Vokkaliga face of the party.

Speaking to reporters, Shivakumar charged the BJP with trying to woo Gujarat MLAs during their stay in Bengaluru. But all their efforts were in vain. He also said he has details of how efforts were made to poach the MLAs and that he would disclose them at the right time. “Ups and downs are common. The party leaders, including Sonia Gandhi and Chief Minister (Siddaramaiah), and the workers stood with me,” he added, referring to the I-T raids.

Comments

salam Bava
 - 
Thursday, 10 Aug 2017

we have to understand congress and DKS are up against Mr Modi, Mr Shah. And they think differently, they act differently, and if congress is not flexible in its approach, they will become irrelevant.
This is right time to Congress to recognize that India has changed. "Old slogans don't work, old formulas don't work, old mantras don't work. India has changed, the Congress party has to change.

So act of DKS is 100% justified

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Agencies
June 18,2020

New Delhi, Jun 18: Reliance Industries Ltd on Thursday said it has sold a 2.32 per cent stake in its digital unit to Saudi Arabia's Public Investment Fund (PIF) for Rs 11,367 crore, taking the cumulative fund raising to about Rs 1.16 lakh crore in two months.

Starting with Facebook Inc on April 22, Reliance has sold almost 25 per cent of equity in Jio Platforms - the maximum reports suggest the company intends to dilute to financial investors.

The investment by Saudi sovereign wealth fund is "at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore", the company said in a statement.

With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic, resulting in a recession kind of environment for the global economy.

"With the addition of PIF's investment, Jio Platforms has established partnerships with a marquee set of global financial investors, who will contribute to establishing the Digital Society vision for India," the statement said.

Jio Platforms houses India's biggest telecom firm by subscribers, Reliance Jio. With more than 388 million users, Jio has forced out several rivals and driven consolidation in the sector since entering the market in 2016 with free voice services and cut-price data.

Over the past two months, billionaire Mukesh Ambani's oil-to-telecom conglomerate has announced the sale of about $14 billion of assets, completed a Rs 53,124 crore rights issue and slowed the run rate of new investment by a quarter.

These will help Reliance meet its target of paying off Rs 1.61 lakh crore of net debt by the end of the year.
This is PIF's largest investment into the Indian economy to date.

Ambani, chairman and managing director of Reliance Industries, said, "We at Reliance have enjoyed a long and fruitful relationship with the Kingdom of Saudi Arabia for many decades. From oil economy, this relationship is now moving to strengthen India's New oil (data-driven) economy, as is evident from PIF's investment into Jio Platforms."

Yasir Al-Rumayyan, governor of PIF, commented: "We are delighted to be investing in an innovative business which is at the forefront of the transformation of the technology sector in India. We believe that the potential of the Indian digital economy is very exciting and that Jio Platforms provides us with an excellent opportunity to gain access to that growth."

"This investment will also enable us to generate significant long-term commercial returns for the benefit of Saudi Arabia's economy and our country's citizens, in line with our mandate to safeguard and grow the national wealth of the Kingdom," he said.

The transaction is subject to Indian regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.

Prior to this deal, Reliance had sold 22.38 per cent of Jio Platforms to investors including Facebook Inc, securing Rs 104,326.95 crore in eight weeks.

Facebook kicked off the party, investing Rs 43,573.62 crore for a 9.99 per cent stake on April 22. This was closely followed by a further Rs 60,753.33 crore in investment.

Silver Lake - the world's largest tech investor - bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore on May 4. It invested another Rs 4,546.80 crore for additional 0.93 per cent stake on June 5, taking its total holding to 2.08 per cent
Private equity KKR and Vista Equity Partners have taken 2.32 per cent stake each for Rs 11,367 crore apiece. KKR invested in Jio Platforms on May 22 while Vista invested on May 8.

Abu Dhabi sovereign wealth fund Mubadala Investment Co picked up 1.85 per cent in Jio Platforms for Rs 9,093.60 crore on June 5. Abu Dhabi Investment Authority on June 7 invested Rs 5,683.50 crore for a 1.16 per cent stake in Jio Platforms.

On May 17, global equity firm General Atlantic picked up 1.34 per cent stake in Jio Platforms for Rs 6,598.38 crore.

Global investment firm TPG on June 13 picked up 0.93 per cent for Rs 4,546.80 crore while L Catterton bought 0.39 per cent for Rs 1,894.50 crore.

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News Network
March 29,2020

Bengaluru, Mar 29: Escoms have been directed neither to penalise its customers nor go for disconnection if one fails to pay the bill. The relief is applicable till June. However, the entire bill will have to be paid at the end of three months.

The revised power tariff, which was to be announced on April 1, has also been deferred.

A similar three-month relief has been given on rentals for APMC and BBMP shops.

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News Network
March 6,2020

Mysuru, Mar 6: A BJP worker was stabbed to death by unidentified persons at his apartment in Mysore in the early hours of Friday, police said.

Anand in his early thirties, was reportedly attacked with a broken beer bottle shortly after he returned home following his late night birthday party, police added.

Following information from neighbours in the apartment, police rushed to the spot and recovered the body.

"The murder took place between 3 am and 4 am. We are investigating who was with him at the time and what was the motive behind the killing," Mysuru police Commissioner Dr Chandragupta told reporters.

Police said further investigations are on to ascertain the motive and people behind the killing.

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