Paradise Papers leak: Harsha Moily defends his ‘growth’

coastaldigest.com news network
November 7, 2017

Mangaluru, Nov 7: The media reports that mentioned name of Harsha Moily, son of former union minister and Chikkabalapur MP M Veerappa Moily in the latest leaked Paradise Papers, has embarrassed the Congress party in Karnataka.

Political pundits say that the revelation has snatched the moral rights of Congress to target BJP after the media investigation exposed the black wealth of saffron party leaders Jayant Sinha and Ravindra Kishore Sinha.

According to The Indian Express, when Veerappa Moily was Union Minister in the UPA Government, his son Harsha Moily allegedly floated a firm which received investments from a Mauritius-based firm, Unitus Impact PCC.

His company Moksha-Yug Access Private Limited, received funds from MYA Unitus Impact Partners, one of the two cells of Unitus Impact PCC.

Harsha Moily was Congress ticket aspirant in Dakshina Kannada constituency during last Lok Sabha polls. Rumours also doing rounds that the Congress may field him from Karkala constituency in next Karnataka Assembly polls.

Harsha Moily’s clarification

"Having founded MYA and led the company as its CEO since its inception in 2005, I have seen MYA experience growth as well as face significant challenges in operating an impact business in rural India. The dairy/ agri space is extremely volatile, but it is a critical sector for rural India and we worked hard to make our business model work.

MYA has always had a farmer-first approach, and our objective has always been to ensure that our dairy farmers be benchmarked with the best in the world in terms of productivity (quality and quantity of milk per cow) and that economic growth be balanced with human progress.

With this primary objective, it was imperative that MYA raise external investment from professional investors in the impact investment space including by Unitus Impact PCC - MYA UIP, the investment vehicle set up by Unitus Impact to make investments into MYA (they led an investment round in 2011). Please also note that we have raised capital from a range of other professional institutional investors such as Unitus Equity Fund and Khosla Impact (both of whom originally invested in 2008) through their investment vehicles, with much of the overall equity investment into MYA having started even before my father became a Union Minister in UPA II."

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News Network
April 1,2020

Bengaluru, Apr 1: The price of petrol and diesel will go up by Rs 1.60 and Rs 1.59 per litre, respectively, from Wednesday. This is in line with Chief Minister B S Yediyurappa’s decision to hike the rate of tax on petrol from 32% to 35% and diesel from 21% to 24%.

He had announced this in his March 5 Budget for 2020-21 fiscal. At present, a litre of petrol costs Rs 71.97 and diesel Rs 64.41 in Bengaluru.

The government decided to roll out the hike from Tuesday midnight going into Wednesday, April 1, after briefly considering a postponement in view of the COVID-19 crisis. 

Finance Secretary (Budget & Resources) Ekroop Caur confirmed to DH that the hike will be rolled out. 

The 3% hike on fuel tax was a key resource mobilisation measure that Yediyurappa announced in his Budget. The hike is expected to fetch the government Rs 1,500 crore. 

Yediyurappa had also announced a 6% additional excise duty on Indian Made Liquor (IML), which could help the government mop up Rs 1,200 crore. However, the sale of liquor has been prohibited during the lockdown period. Plus, hiking fuel prices during the lockdown will not hit citizens very hard. 

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News Network
April 21,2020

Bengaluru, Apr 21: Bengaluru Police and administration has issued prohibitory orders in the city, with exemptions to essential and emergency services, to enforce the COVID-19 lockdown.

"In exercise of the powers conferred under Section 144 (1) Code of Criminal Procedure, I, Bhaskar Rao, IPS, Commissioner of Police and Additional District Magistrate, Bengaluru city hereby issue a prohibitory order within the limits of Bengaluru city commissioner on midnight of April 20, 2020, to midnight May 3, 2020," the order issued on Monday said.

Section 144 of the CrPC pertains to the power conferred to a District Magistrate, a sub-divisional Magistrate or any other Executive Magistrate to issue orders in urgent cases of a nuisance of apprehended danger.

"As per the guidelines of the Ministry of Home Affairs, Government of India on the measures for containment of COVID-19 epidemic, it is imperative to take stringent measures in the jurisdiction of Commissioner of Bengaluru city to prevent the spread of the disease," the order said.

As per the order, the offices of the Government of India, its autonomous and subordinate offices and public corporations shall remain closed with the exception of defence, central armed police force, treasury, public utilities, disaster management, power generation, and post office, etc.

Offices to the state government, their autonomous bodies, corporation, etc shall also remain closed except police, home guard, civil defence, fire and emergency services, electricity, water, sanitation and Mandis operated by Agriculture Produce Market Committee, etc, it added.

It said that municipal bodies, with staff required for essential services, will also remain functional during this period. Other essential and emergency services, like hospitals, shops, etc have also been exempted from the prohibitory orders.

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News Network
March 5,2020

Mar 5: The government on Thursday asserted that there is no shortage of raw ingredients or medicines in the country as it has taken various initiatives to tackle the challenge posed by the coronavirus outbreak.

All initiatives are also being taken to ensure that there is no impact of the disease in India, Minister of Chemicals and Fertilizers D V Sadananda Gowda said.

"There is no shortage of any APIs in the country. We have sufficient APIs (active pharmaceutical ingredients) and medicines in the country," he said.

Gowda was addressing the 5th international exhibition and conference on the pharmaceutical and medical industry organised by the Department of Pharmaceuticals, Gujarat government and industry chamber Ficci here.

For another three months there is no shortage for undertaking production in the pharma sector, he added.

"Our government has taken all initiatives to ensure that as far as our country is concerned the coronavirus should be stopped, and there is no hazard as far as this issue is concerned," Gowda reiterated.

Coronavirus is a challenge and "we should make all efforts that need to be taken..., " he added.

On Tuesday, India, the world's largest maker of generic drugs, restricted the export of common medicines such as paracetamol and 25 other pharmaceutical ingredients and drugs made from them, as it looks to prevent shortages amid concerns of the coronavirus outbreak turning into a pandemic.

Besides over-the-counter painkiller and fever reducer paracetamol, drugs restricted for exports included common antibiotics metronidazole, and those used to treat bacterial and other infections as well as Vitamin B1 and B12 ingredients.

A notification by the Directorate General of Foreign Trade (DGFT) had said the export of 26 active pharmaceutical ingredients (APIs) and formulations would require licence.

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