Former JD(S) President AH Vishwanath announces retirement from politics

Bengaluru, Jul 26: Today, one of the Co-founders of Infosys, SD Shibulal announced that over the last three days (22nd - 24th July) his family members have sold a portion of (representing approximately 0.20 per cent of the paid-up equity share capital) their holding in Infosys Ltd on the stock exchanges.

Proceeds from the partial stake monetization will be utilized for a combination of philanthropic and investment activities.

The sale was executed by Citigroup Global Markets India Private Limited as the Sole Broker.

The Founders, have served Infosys in various capacities, since its inception in 1981 until October 2014. Over the three decades, the Founders have nurtured the company transforming it into one of the professionally run companies in India with a global presence.

This press release is for information purposes only and is not an offer to sell, or a solicitation of an offer to buy, any of the shares described herein. The shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or in any state or other jurisdiction of the United States.

Securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the US Securities Act. 

There has not been and there will not be any public offering of the shares in the United States.

Bengaluru, Apr 18: Private unaided schools in the state that were demanding fees from parents in the name of online classes and taking online admissions will face action under Section 3 of the Epidemic Diseases Act 1897, the Karnataka government said.

The Department of Public Instructions has warned school management of action against such educational institutes if they violate the rules. Following complaints from several parents and also from private school management associations, Minister for Primary and Secondary Education S Suresh Kumar discussed the issue with officials from the department during a recent meeting and directed them to initiate action against such academies.

In a guideline issued on Saturday, the department said, "Schools can conduct online classes. But are not permitted to collect the fee from parents until further orders from the department."

Bengaluru, Jan 14: Assuring depositors that their money was "100 per cent safe" with the bank, Sri Guru Raghavendra Sahakara Bank Chairman K Ramakrishna in Bengaluru on Monday said 62 loans had locked up Rs 300 crore of deposit.

"Your money is 100 per cent safe with Sri Guru Raghavendra Sahakara Bank. It's my responsibility," Ramakrishna said at Sri Guru Narasimha Kalyanamandira auditorium, to assure depositors.

He was addressing angry customers of the bank at a public hearing. Due to the 62 dud loans, the Reserve Bank of India (RBI) had restricted the lender from executing business, Ramakrishna said amid shouting by depositors. The RBI has limited withdrawals by depositors to Rs 35,000.

"The bank is saying I can't withdraw more than Rs 35,000. In case of our fixed deposit maturing, we will have to renew it as we can't encash it, " said Nagaraj M, 49, who has been dealing with the bank for the past six years.

To assuage customers, the call to an assistant commissioner of police by Bengaluru South MP Tejaswi Surya -- not present -- was relayed on loudspeaker live and the MP claimed that he had spoken to Finance Minister Nirmala Sitharaman to help the customers.

Ramakrishna said he would meet customers again on January 19 with all the details and numbers. Dramatic scenes and pandemonium ruled the auditorium before his arrival. Thousands of bank customers threatened to go en masse to the police station and file a case against Ramakrishna.

As he addressed the gathering in Kannada, hundreds of depositors shouted back at him seeking clarifications. At the auditorium, thousands of depositors earlier demanded the bank chairman's presence to clarify the matter.

The lender had invited depositors to the auditorium at 6 p.m. to update them on the bank's status, following a RBI directive restricting the bank from doing business with immediate effect.

"We want the bank's directors here," shouted a depositor from the stage. A handful of policemen were trying to control the crowd and bring order to the assembly. Many elderly and retired persons had arrived to know the fate of their savings. Several women were also present at the meeting.

"It was a good bank with only 0.5 per cent NPAs. Now we can't trust any bank. See what happened with the PMC Bank," said another customer.

Shankar Sharma, 38, an employee of a private company, said majority of depositors were senior citizens and retirees. "I don't have an account with the bank, but my mother, uncle, aunt have deposited money in it. I came for them, " said Sharma. He said many of the bank's 35,000 clientele deposited more than Rs 5 lakh, which had total deposits of Rs 1,600 crore. The bank started operations in 1999.

Ramakrishna was escorted away to safety by the police after his speech even as the depositors were screaming and agitating for justice.