Petrol bombs seized from hostels at Banaras Hindu University

Bengaluru, Jul 4: A case has been filed against a man who posed himself to be the PMO's National Security Council 'youth advisor' during his visit to Bengaluru.

According to the police, Ankit Dey (22 yrs) who had visited Bengaluru between 16 to 20 June and for his stay at ITC Gardenia, posed himself as a youth advisor to National Security Council at PMO.

As per the information given by the hotel staff, the police department had communicated with the PMO. They got clarification that there is no such person designated in the Prime minister's office. A complaint has been filed in Cubbon Park police station.

"The man found to be 22-year-old as per the identity shown in the hotel, left his visiting cards. Although he did not ask for any discount in the hotel," said Police.

A senior police officer said, "A criminal case has been filed against the accuse 'Ankit Dey' under the section IPC 420 (cheating and dishonesty), 465 (forgery), 468 (forgery for purpose of cheating), 471 (using as a genuine forged document), 417 (cheating).

Police have started its work to find him as per the clues we have got. At this point of time, we can not reveal more details," Officer said. 

Bengaluru, Feb 10: After many twists and turns, veteran Congress leader Mallikarjuna Kharge is emerging as the frontrunner for the KPCC president’s post, party sources revealed.

Though the names of DK Shivakumar and MB Patil did the rounds sometime ago, the party high command could not decide on an apt candidate, and had to widen its horizon looking for a leader who can take all factions along, and they seem to have zeroed in on Kharge.

But the senior Dalit leader is also in the reckoning for the more important All-India Congress Committee president’s post after he successfully stitched up an alliance, despite all odds, between the Congress and Shiv Sena in Maharashtra. He is understandably reluctant to take up the KPCC post. “The central leadership has given him some time to consider the KPCC offer,” the sources said.

The high command would rather go with Kharge as he is politically a far bigger force than Shivakumar and M B Patil and the party central leadership wants a safe pair of hands to handle the affairs of the state, the sources said. Also, senior leaders Siddaramaiah, Shivakumar and M B Patil cannot raise a voice against Kharge if he is elected to the post, they said.

Kharge was the Pradesh Congress chief in 2008 when the BJP was in power under B S Yediyurappa. An old warhorse, Kharge is seen as an able administrator and taskmaster. He had won a record 11 elections on the trot before he was defeated in the Kalaburgi Parliamentary Constituency by his former protege Dr Umesh Jadhav in the last election.

Sources said that the high command will not consider Shivakumar for the top slot till he comes out clean in all the legal cases against him.

It is exactly two months since Dinesh Gundurao resigned as KPCC president after the party managed to win just two out of the 15 Assembly constituencies that went for by-elections. Siddarmaiah too resigned on the same day owning moral responsibility for the loss, but the party has decided to continue with him as the assembly opposition leader, while looking for a replacement for Gundurao. 

The high command sent senior central leaders  Madhusudhan Mistry and Bhakta Charan Das on December 20 to sort out the issue of KPCC president. Though they met the state leaders and held high-level meetings in Delhi, they could not decide on a candidate. Meanwhile, the central leadership has asked Gundurao to continue in the post, till a replacement is found.

‘Congress will protest against scrapping reservation’

Bengaluru: “RSS-BJP is against reservation and have been trying to scrap it for sometime now,’’ said senior Congress leader Mallikarjun Kharge on Sunday. He stated that the Congress would take up the issue for a determined agitation both inside and outside the parliament. He said they must file a petition against this. His reaction comes after the SC recently took a decision where the top court had maintained that reservation in promotions was not a fundamental right.

Feb 19: Bavaguthu Raghuram Shetty was once a typical billionaire with a taste for the high-life.

He splurged on a private jet, vintage cars and two entire floors of the Burj Khalifa, the world’s tallest skyscraper. His website shows him hobnobbing with politicians, Bill Gates and Bollywood royalty.

“The thrill of speed and freedom makes me love cars,” Shetty, 77, told local reporters last year.

Shetty had more than enough money -- at least on paper -- to afford such a lifestyle from companies he helped found, including hospital operator NMC Health Plc and financial services firm Finablr Plc. On Dec. 10, his stakes in the public companies were valued at $2.4 billion, making up the bulk of a fortune spanning education, hospitality and one of the world’s oldest tea companies.

Then, a week later, Carson Block came along.

Block’s investment firm, Muddy Waters, issued a report criticizing NMC’s accounts and disclosing a short position. Since then, Muddy Waters’s scrutiny has snowballed into a troubling scenario for Shetty that sheds light on his complex share arrangements and casts doubts about his net worth. His holdings in Finablr and NMC are worth $885 million, but Shetty’s fortune may now be just a fraction of that, depending on the size of his borrowings.

Filings this month show that Shetty pledged a quarter of his NMC stake against loans with First Abu Dhabi Bank and Zurich-based Falcon Private Bank. Two other shareholders may own half of his reported stake. Another lender -- Al Salam Bank Bahrain -- has already sold some of those shares to enforce security over a loan for Shetty, and NMC said Tuesday that First Abu Dhabi Bank sold another chunk earlier this month.

The situation “seems to have gone beyond some of the issues that Muddy Waters focused on initially,“ said Gavin Launder, a fund manager at Legal & General Investment Management, who owned shares in NMC until October. “The increased scrutiny has unearthed other issues.”

Law firm Herbert Smith Freehills has launched a review of Shetty’s holdings at his request, a spokesperson for the Indian-born businessman said, declining to comment further until the analysis is completed. Shetty resigned Sunday as NMC’s chairman.

In its Dec. 17 report on NMC, Muddy Waters hinted at potential overpayment for assets, inflated cash balances and understated debt. Shares of the United Arab Emirates’ biggest private health-care provider have since plunged 67%, and the firm is now the focus of takeover speculation. The sell-off also spread to Finablr, whose stock has tumbled 64% in that span.

NMC has disputed Muddy Waters’s claims, and the company hired former FBI Director Louis Freeh to conduct an independent review of the short seller’s allegations. Meanwhile, local regulators “are making inquiries with the relevant parties,” a spokesperson for the U.K.’s Financial Conduct Authority said.

Shetty is hardly the only ultra-wealthy person to leverage his assets. Elon Musk has used his shares in Tesla Inc. to obtain personal loans, while Oracle Corp. Chairman Larry Ellison has put up millions of the company’s shares to fund a lavish lifestyle that includes trophy properties, America’s Cup teams and the Indian Wells tennis facility in California.

But such deals can also sour, as demonstrated by Shetty’s lenders selling shares his investment firm pledged. He and his advisers are investigating details of the sales as part of their legal review, according to filings.

To complicate matters, Shetty pledged another batch of NMC stock in 2018 as part of a so-called equity collar arrangement with Goldman Sachs Group Inc. that uses options to limit the impact from share moves. Last month, he also pledged most of his stake in Finablr to refinance a loan from the company’s takeover of foreign-exchange firm Travelex for about $1.2 billion.

BRS Ventures Investment, the UAE-based holding company for most of Shetty’s assets, doesn’t report consolidated financials, preventing a complete analysis of his net worth. His other assets include a catering company, a waste-management firm and pharmaceutical business Neopharma, which four months ago was in the early stages of planning for an initial public offering.

Block, 43, earned his reputation as a short seller a decade ago through targeting U.S.-listed Chinese companies that he claimed were frauds. More recently, his San Francisco-based firm focused on British litigation-finance firm Burford Capital Ltd. and Japanese biotech stock PeptiDream Inc. Short sellers seek to benefit from a decline in a company’s share price.

Shetty founded NMC in 1975 after moving to Abu Dhabi from his native India. He created Finablr two years ago to consolidate his financial brands before listing it on the London Stock Exchange in 2019.

Block said he didn’t anticipate NMC’s shareholding drama.

“I wouldn’t have been able to predict that we’d get these bizarre disclosures about unclear share ownership coming out of the company,” he said in a Feb. 13 phone interview. “This has been obviously a more dramatic unraveling than we usually see.”