Mukesh Ambani is India’s most charitable person, tops Hurun India Philanthropy list

Agencies
February 11, 2019

Mumbai, Feb 11: Reliance Industries Ltd (RIL) Chairman Mukesh Ambani topped the Hurun India Philanthropy List 2018, released on Saturday, with the highest contribution of Rs 437 crore between October 2017 and September 2018.

Ambani was followed by Piramal Group Chairman Ajay Piramal who made Rs 200 crore donations during the period.

The list, compiled by the Hurun Research Institute, ranks individuals from India who donated Rs 10 crore and above between October 1, 2017 and September 30, 2018. 

The total Indian philanthropy amount in the list stands at Rs 1,560 crore. The list included 39 Indians with the average contribution per philanthropist being Rs 40 crore.

It showed that education was the most preferred cause for donations, followed by healthcare and rural development.

Ambani's corporate social responsibility (CSR) expenditure is channelised through Reliance Foundation. Ambani's philanthropic interests include sectors like education, social, rural development and healthcare. According

He was also named the richest Indian by the Barclays Hurun India Rich List for 2018, released in September last year, with a net worth of Rs 3.71 lakh crore as on July 31, 2018.

The list also included Azim Premji and family who donated Rs 113 crore, Adi Godrej and family (Rs 96 crore), LuLu Group’s Yusuff Ali (Rs 70 crore), HCL’s Shiv Nadar (Rs 56 crore), Savji Dholakia from Hari Krishna Exports (Rs 40 crore), Shapoor Pallonji Mistry (Rs 36 crore) and Cyrus Pallonji Mistry (Rs 36 crore) from Shapoorji Pallonji and Adani Enterprises’ Gautam Adani (Rs 30 crore).

“The philanthropic landscape of India is changing and evolving because of the active participation and contribution of the top Indian entrepreneurs. Some of the most amazing global wealth creation stories of this century will be from India. Consequently, in the next 5-10 years, I expect to see an exponential increase in active philanthropy emanating from India,” A Financial Express report quotes Anas Rahman Junaid, MD and Chief Researcher, Hurun Report India as saying.

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News Network
July 10,2020

New Delhi, July 10: Hours before gangster Vikas Dubey was killed in an alleged police encounter on Friday, a plea was filed in the Supreme Court demanding urgent listing for action into his "possible killing" by Uttar Pradesh Police.

Advocate Ghanshyam Upadhyay had apprehended in his plea that there is a high possibility that Dubey will also be killed in a 'fake' encounter after his arrest from Ujjain in Madhya Pradesh a day ago.

Upadhyay claimed that the UP Police was expected to "concoct the same story of encounter" for Dubey like it did when four of his associates were killed after the 2 July incident.

Dubey was the primary accused in the killing of eight policemen in Kanpur on July 2. He was arrested from Ujjain on Thursday. He was killed in a police encounter, when he allegedly tried to flee on Friday morning.

"During the hunt for Dubey and co-accused, five of his accused aides were arrested/caught and then killed by the police in the name of encounter...Thus, there is every possibility that even Dubey shall be killed by Uttar Pradesh Police like other co-accused once his custody is obtained," Upadhyay feared.

He submitted that the killing of the accused by the police in the name of encounter no matter how heinous the crime was "against the rule of law and serious violation of human rights and nothing sort of Talibanisation of the country". Upadhyay sought hearing in the matter on Friday itself, citing extreme urgency.

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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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News Network
June 2,2020

New Delhi, Jun 2: Congress leader Rahul Gandhi on Monday took a jibe at Prime Minister Narendra Modi over Moody's Investors Service downgrading India's sovereign rating to the lowest investment rate and said that the global rating agency has rated his handling of the country's economy "a step above junk".

"Moody's has rated Modi's handling of India's economy a step above JUNK. Lack of support to the poor and the MSME sector means the worst is yet to come," the Congress leader tweeted citing a media report on Moody's downgrading the nation.

On Monday, Moody's downgraded the country's rating to "Baa3" from "Baa2". This comes at a time when the government is facing criticism from the Opposition over its handling of the COVID-19 situation and measures to boost the economy.

The government has already announced a stimulus package of Rs 20 lakh crore to deal with the situation.

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