No unsecured loans given to Vadra, says DLF

October 7, 2012
robert-vadra

New Delhi, October 7: Realty major DLF on Saturday rejected the allegations that it had given unsecured loans to Robert Vadra in a ‘quid pro quo’ for favours and said it had transparent dealings with him as an individual entrepreneur.

In a statement, the company said it had given him Rs. 65 crore as “business advance” of which Rs. 15 crore was fully refunded and Rs. 50 crore was used for purchase of land.

Rejecting the allegations of activists Arvind Kejriwal and Prashant Bhushan that the company favoured Mr. Vadra, DLF said it neither received any undue benefit from any State government nor was it allotted any land by the Delhi, Haryana and Rajasthan governments.

DLF also dismissed the charge that the company sold properties to Mr. Vadra and his companies at a throwaway price.

“We would like to state that the business relationship of DLF with Mr. Vadra or his companies has been in his capacity as an individual entrepreneur, on a completely transparent and at an arm’s length basis,” DLF said. The business relationship with Mr. Vadra had been conducted in the highest standards of ethics, the company said.

“We wish to categorically state that DLF has given no unsecured loans to Mr. Vadra or any of his companies. An amount of Rs. 65 crore was given as business advance for the purchase of land in two transactions,” it added.

DLF said it purchased 3.5 acres in Gurgaon from Skylight Hospitality for Rs. 50 crore in 2008-09.

“At no stage was an interest-free loan ever given to the Skylight group. There were two sets of business advance against purchase of property, one of which amounting to Rs. 50 crore resulted in a satisfactory conclusion of purchase of commercial land and the second advance of Rs. 15 crore was fully refunded,” it added.

DLF also said that “it is not unusual for parties which sell land to DLF to choose to reinvest the consideration received or part thereof in projects being developed by DLF.”

“There is no question of offering, let alone selling, to Mr. Vadra or his group companies any property at a throwaway price. The allegation that 7 apartments in Magnolias were sold for Rs. 5.2 crore only is also completely baseless. At no stage was a property ever sold to the Skylight group below the then offered price to all customers,” DLF said.


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News Network
May 18,2020

As many as employees of Zee News have tested positive for the coronavirus, Editor-in-Chief Sudhir Chaudhary said on Monday. Most of them are asymptomatic, he said, tweeting an official statement from Zee News about the situation.

The organisation said that on May 15, one of its employees tested positive for the coronavirus. Following this, the company started testing employees who may have come in contact with the employee. Twenty-seven more were found to be infected.

“Fortunately most of them are asymptomatic and are not complaining of any discomfort,” Zee News said. “We believe this is because of early diagnosis and proactive intervention.”

The news network said all guidelines and protocols have been followed, and its office, newsroom and studios have been sealed for sanitisation. The Zee News team has been shifted to an alternative facility.

“At the moment, Zee Media Corporation has 2,500 employees, by far the largest in the private sector,” the company said. “We are committed to the safety of each one of them.”

Chaudhary also claimed that “those who are infected had the option of sitting at home and sharing memes”. “They came to work because they are committed professionals.”

Following this, some social media users claimed that Zee News employees found infected with Covid-19 were still at work. In response, Chaudhary alleged that a malicious campaign was being conducted to distort his statement. He said no infected employee had come to work, and all the contacts of the employee who tested positive on May 15 had been tested and quarantined.

Over the past two months, journalists from several media organisations have tested positive for the coronavirus. On April 21, 26 employees of a Tamil news channel based in Chennai tested positive for the coronavirus. The previous day, over 50 journalists from Mumbai were found infected, after samples of over 170 journalists were tested.

On May 7, a newspaper journalist died of the coronavirus in Agra. Some states, such as Uttar Pradesh, Karnataka and Delhi, have tested journalists for Covid-19.

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News Network
May 18,2020

New Delhi, May 18: With the highest-ever spike of 5,242 new cases in last 24 hours, the total number of positive COVID-19 cases in India reached 96,169 on Monday, according to the Ministry of Health and Family Welfare.

With 157 deaths reported in the last 24 hours, the death toll has risen to 3,029, as per the latest update by the ministry.

Out of the total number of cases, 36,824 have been cured/discharged/migrated.

This comes a day after the nationwide lockdown, imposed as a precautionary measure to contain the spread of COVID-19, was extended till May 31.

Maharashtra remains the worst-affected state due to the virus with 33,053 cases, including 1,198 deaths. It is followed by Gujarat (11,379), Tamil Nadu (11,224) and Delhi (10,054).

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News Network
February 19,2020

Feb 19: Pay increases across India’s organized sector will probably grow at the slowest pace since 2009 this year, according to a survey from Aon Plc.

Companies will increase average pay by 9.1% in 2020, down from 9.3% in 2019 and 9.5% the previous year, Aon said in a report published Tuesday. The small increase reflects a deep slowdown in Asia’s third-largest economy, where growing pessimism about job prospects have led many to cut down on consumption -- the main driver to growth.

India still leads the Asia-Pacific region in pay rises, but that is mainly due to higher inflation and a “war for key talent and niche skills,” Aon said.

“There is a general air of caution about the economy as we enter into 2020,” Tzeitel Fernandes, partner for rewards solutions at Aon, told reporters in New Delhi. “Low GDP projection and weak consumer sentiment are the reasons behind our lowest ever prediction.”

E-commerce companies and start-ups will probably get the biggest salary increases, projected at an above-average 10%, while financial institutions will hand out 8.5%. Unsurprisingly, the auto sector witnessed the biggest drop in growth -- down to 8.3% from 10.1% in 2018, according to Aon. The survey covered more than 1,000 companies across over 20 industries.

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