Alliance with Cong a democratic compulsion, says Chandrababu Naidu

Agencies
October 7, 2018

Amaravati, Oct 7: Justifying his party's alliance with Congress, TDP supremo N Chandrababu Naidu Saturday claimed it was a 'democratic compulsion' due to 'historic reasons' and was done after TRS spurned his offer for a tie up.

Naidu also indicated that Telangana Rashtra Samiti chief K Chandrasekhar Rao poured cold water on his plans to emerge as a potent force in south India by aligning the TDP and TRS.

The TDP tied up with Congress only after Telangana Rashtra Samiti chief K Chandrasekhar Rao spurned his offer for a tie-up, he said.

"I proposed (to KCR) that we two should unite. Congress will be restricted to Karnataka. BJP and Congress have no place in Tamil Nadu.

The two Telugu states will have the upper hand in south India if TDP and the TRS joined hands. He told me he will think it over and a week later turned down my offer," Naidu said.

He was addressing a meeting of the Telugu Desam Parliamentary Party here this evening.

A release from the TDP later gave a gist of what Naidu spoke to his party MPs.

The Andhra Pradesh chief minister said political alliances were dictated by democratic compulsions.

"We had no other option except to align with non-BJP forces as the BJP was working against us. We have to fight the injustice the Centre meted out to the state and we need support at the national level for this.

Hence, we decided to go with like-minded parties," he was quoted as saying.

Rao wanted that the TDP contest the elections in Telangana and opposed any alliance with the Congress, he said.

"By then I realized he (KCR) fell into someone else's hands," Naidu said, apparently an indirect reference to Prime Minister Narendra Modi.

It was only due to historic reasons that TDP allied with parties that came forward in Telangana, he claimed, referring to the 'Maha Kutami' (grand alliance) of TDP-Congress-CPI and Telangana Jana Samiti.

He also said that the BJP unilaterally broke its alliance with the TDP in Telangana.

"The seed for weakening the TDP was sown then. BJP had a secret pact with (YSR Congress president) Y S Jaganmohan Reddy in Andhra Pradesh and KCR in Telangana," he alleged.

"The TDP's only objective is the well-being of Telugus, wherever they are. NTR established the TDP only for the Telugus," Naidu said.

The TDP chief also spoke about the need to forge an alternative front at the national level.

"We have only five-six months for this.We have to hold conclaves across the country on issues like Centre-state relations, farmers' problems and Rafale deal," he told the TDP MPs.

He recalled that 105 MPs had resigned from their posts en masse on the Bofors scandal.

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Agencies
March 8,2020

Mumbai, Mar 8: A day after the Enforcement Directorate registered a money laundering case against Yes Bank founder Rana Kapoor and raided his premises, he was taken to the agency's office in Mumbai on Saturday for further questioning.

Kapoor, who was grilled by central agency's officials on Friday night at his Samudra Mahal residence in Mumbai, was shifted to the ED office in the metropolis around 12.30 pm.

ED officials said Kapoor was questioned throughout the night, with some rest time.

A senior ED official connected with the probe told IANS: "Kapoor will be questioned about Yes Bank loans to Dewan Housing Finance Limited (DHFL)."

The official said that during searches a lot of incriminating documents were found and the agency wanted to grill him on his links with DHFL promoters and other companies.

Kapoor's alleged role in the disbursal of loan to a corporate entity and kickbacks reportedly received in his wife's bank account are also under probe.

The ED had filed the money laundering case against Kapoor and raided his residence, apart from issuing a look-out circular so that he does not flee the country.

The ED registered a money laundering case against Kapoor as a continuation of its probe against the DHFL wherein it was allegedly found that Rs 12,500 crore was diverted to 80 shell companies using one lakh fake borrowers. The transactions with these shell companies date back to 2015.

An ED official in New Delhi told IANS that the DHFL probe revealed that funds diverted by the DHFL originated from Yes Bank.

He said that the searches at Kapoor's residence on Friday night were meant to find out any irregularity in grant of loans to the DHFL by the Yes Bank.

The ED has accused Kapil and Dheeraj Wadhawan of DHFL of purchasing shares in five firms -- Faith Realtors, Marvel Township, Abe Realty, Poseidon Realty, and Random Realtors -- after which they were amalgamated with Sunblink.

The outstanding loans of these five firms, totalling around Rs 2,186 crore till July 2019, were allegedly appropriated onto the books of Sunblink to cover up the diversion of loans acquired from DHFL.

The ED's action comes after the RBI superseded Yes Bank Board for 30 days and appointed an administrator, putting a cap of Rs 50,000 on withdrawals by account holders for a month.

The RBI said that the bank's board was superseded "owing to serious deterioration in the financial position of the bank".

Former SBI CFO Prashant Kumar was appointed as administrator of Yes Bank, which has over 1,000 branches and 1,800-plus ATMs across the country.

On Thursday, Union Finance Minister Nirmala Sitharaman said that the bank was on watch since 2017 and developments relating to it were monitored on a day-to-day basis.

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Agencies
July 15,2020

Mumbai, Jul 15: In a mega investment announcement, Reliance Industries (RIL) Chairman Mukesh Ambani on Wednesday said that Google will invest ₹ 33,737 crore in Jio Platforms for an equity stake of 7.73%.

Google is investing at an equity valuation of ₹ 4.36 lakh crore, said an RIL regulatory filing.

"Jio Platforms Limited, a subsidiary of the Company, today signed binding agreements with Google International LLC pursuant to which Google would invest ₹ 33,737 crore for a 7.73 % equity stake in Jio Platforms Limited on a fully-diluted basis. Google is investing at an equity valuation of ₹ 4.36 lakh crore," it said.

The transaction is subject to customary regulatory approvals.

Speaking at the Annual General Meeting of RIL, Ambani said that he looks forward to working with investors in Jio Platforms in a collaborative way.

Making another major announcement, the RIL Chairman said that Jio has designed a complete 5G solution and it will be available for trials as soon as spectrum is available.

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News Network
May 18,2020

Muscat, May 18: An Air India special flight left for Hyderabad with a total of 182 stranded Indians from Oman on Monday.

"IX 818 departed for Hyderabad with total 182 passengers. We again express our gratitude to Omani & Indian authorities and wish all the passengers, safe journey home," Indian embassy in Oman said in a tweet.

Under the Vande Bharat Mission, Air India operated repatriation flight from Oman on Sunday to Kerala. It had brought back 183 Indians.

The phased evacuation is being done under the Centre's 'Vande Bharat' mission whose second phase started from May 16.

In order to facilitate the return of stranded Indian nationals in Oman, the Indian government has decided to operate more special flights to Bangalore, Calicut, Delhi, Kannur, Kochi, and Gaya on May 20, 21, 22 and 23.

Under the second phase, a total of 149 flights, including feeder flights, are expected to be operated to bring back stranded Indians from 40 countries.

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