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BJP is crossing the limits of 'shamelessness': Patel

News Network
November 23, 2019

Mumbai, Nov 23: The "clandestine" manner in which Devendra Fadnavis was sworn-in as the chief minister of Maharashtra will be written in black ink in the history of the state, senior Congress leader Ahmed Patel said on Saturday.

He also accused the BJP of crossing the limits of "shamelessness", adding democracy stands "shattered" after the saffrom party formed the government by joining hands with NCP president Sharad Pawar's nephew Ajit Pawar.

Patel recalled that Governor Bhagat Singh Koshyari had not invited the Congress to stake claim to form the government in the state after the BJP, Shiv Sena and NCP were asked to do so earlier this month.

"There was neither band-baja (celebration) nor a procession as the chief minister was sworn-in in a clandestine manner...the incident will be written in black ink in Maharashtra's history," Patel told reporters here.

He also said that the list of MLAs submitted to the Governor by Ajit Pawar was "not verified" and the Governor did not speak to anyone else.

"I can smell something is wrong the way oath was administered discretely...They have crossed limits of shamelessness," Patel said.

He also dismissed charges that there was delay on part of the Congress to form government in the state with the Shiv Sena and NCP.

"These allegations are baseless," he said.

Patel also said that the three parties will fight out on both political and legal front.

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News Network
February 11,2020

New Delhi, Feb 11: AAP leader Sanjay Singh on Tuesday said his party will register a "massive win" in the high-stakes Delhi Assembly election, counting for which began amid tight security at various centres set up to carry out the exercise.

Initial trends suggested the ruling Aam Aadmi Party marching ahead, but the Bharatiya Janata Party leaders maintained that their party would win.

The counting began at 8 am and will be held in multiple rounds, Delhi Chief Electoral Officer Ranbir Singh said.

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News Network
March 5,2020

New Delhi, Mar 5: Retirement fund body EPFO on Thursday lowered interest rate on provident fund deposits to 8.5 per cent for the current financial year, said Labour Minister Santosh Gangwar on Thursday.

The EPFO had provided 8.65 per cent rate of interest on EPF for 2018-19 to its around six crore subscribers. The decision was taken at a meeting of the the Employees' Provident Fund Organisation's (EPFO) apex decision making body -- the Central Board of Trustee.

"The EPFO has decided to provide 8.5 per cent interest rate on EPF deposits for 2019-20 in the Central Board of Trustees (CBT) meeting today," Gangwar told reporters after the meeting here.

Now, the labour ministry requires the finance ministry's concurrence on the matter. Since the Government of India is the guarantor, the finance ministry has to vet the proposal for EPF interest rate to avoid any liability on account of shortfall in the EPFO income for a fiscal.

The finance ministry has been nudging the labour ministry for aligning the EPF interest rate with other small saving schemes run by the government like the public provident fund and post office saving schemes.

The EPFO had provided 8.65 per cent rate of interest to its subscribers for 2016-17 and 8.55 per cent in 2017-18. The rate of interest was slightly higher at 8.8 per cent in 2015-16.

It had given 8.75 per cent rate of interest in 2013-14 as well as 2014-15, higher than 8.5 per cent for 2012-13.

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Agencies
May 4,2020

Mumbai, May 4: Days after Facebook, private equity firm Silver Lake said it will invest 56.56 billion rupees ($746.74 million) in Reliance Industries's digital arm, giving it a valuation of 4.90 trillion rupees. Silver Lake on Monday agreed to pay Rs 5,655.75 crore to buy 1.15 per cent stake in the firm that houses billionaire Mukesh Ambani's telecom arm Jio.

The investment in Jio Platforms comes within days of Facebook investing USD 5.7 billion to buy a 9.99 per cent stake in Jio Platforms. The investment is at a premium of 12.5 per cent to the Facebook deal.

"This investment values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and represents a 12.5 per cent premium to the equity valuation of the Facebook investment announced on April 22, 2020," Reliance said in a statement.

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