PM stole from Andhra Pradesh and gave it to Anil Ambani: Rahul Gandhi

Jun 19: Billionaire Mukesh Ambani on Friday announced that his oil-to-telecom conglomerate Reliance Industries is now net debt-free after raising a record Rs 1.69 lakh crore from global investors and a rights issue in under two months.

Reliance raised Rs 1.15 lakh crore from global tech investors by selling a little less than a quarter of the firm's digital arm, Jio Platforms Ltd, and another Rs 53,124.20 crore through a rights issue in the past 58 days.

Taken together with last year's sale of 49 per cent stake in fuel retailing venture to BP Plc of UK for Rs 7,000 crore, the total fund raised is in excess of Rs 1.75 lakh crore, the company said in a statement.

Reliance had a net debt of Rs 1,61,035 crore as on March 31, 2020. "With these investments, RIL has become net debt-free," it said.

"I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of March 31, 2021," Ambani said.

Jio Platforms - which houses the country's youngest but largest telecom firm Reliance Jio, raised Rs 1,15,693.95 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton and PIF since April 22, 2020.

Saudi Arabian sovereign wealth fund PIF buying 2.32 per cent stake in the unit for Rs 11,367 crore on June 18 "marks the end of Jio Platforms' current phase of induction of financial partners," the statement said.

Alongside, Reliance launched India's biggest right issue, which was subscribed to 1.59 times.

Though the rights issue size was Rs 53,124 crore, the company has got only 25 per cent of the money as the remaining is to be paid only next fiscal.

Ambani had at the company's annual general meeting on August 12, 2019, announced a roadmap for Reliance to become a net debt-free company before March 31, 2021.

"We have a very clear roadmap to becoming a zero net-debt company within the next 18 months that is by March 31, 202," he had said last year highlighting strong interest from strategic and financial investors in consumer businesses, Jio and Reliance Retail.

In the statement on Friday, he said he was both delighted and humbled to announce the fulfillment of the promise.

"Exceeding the expectations of our shareholders and all other stakeholders, again and yet again, is in the very DNA of Reliance," he said.

"Therefore, on the proud occasion of becoming a net debt-free company, I wish to assure them that Reliance in its Golden Decade will set even more ambitious growth goals, and achieve them," he added.

He said over the past few weeks, phenomenal interest was received from the global financial investor community in partnering with Jio.

"As our fundraising milestone from financial investors is achieved, we sincerely thank the marquee group of financial partners and warmly welcome them into Jio Platforms," he said.

"I also express my heartfelt gratitude to all the retail and institutional investors, both domestic and foreign, for their overwhelming participation in our record-setting Rights Issue," he added.

Mumbai, Mar 28: Doctors in Mumbai have not been spared by the novel coronavirus. As Mumbai’s count for Covid-19 cases went up to 58, an octogenarian doctor from Saifee Hospital passed away on Friday. He was a suspected case of coronavirus with co-morbid conditions like diabetes and had a pacemaker implanted, said a press release from the state health department.

As per a statement from Saifee Hospital, he underwent a CT scan at Saifee Hospital and was diagnosed positive for Covid-19. The surgeon was transferred to the special isolation facility at PD Hinduja Hospital where he subsequently died. Behranwala’s close relatives had come down from England and were under quarantine.

In a statement, Saifee Hospital, where Behranwala underwent CT scan, said, "All containment and surveillance measures have been implemented to ensure the safety of our staff patients and visitors. Saifee Hospital reiterates that the Hospital is fully operational," said Dr Vernon Desa, Director (Medical governance and clinical compliance) Saifee Hospital.

In the second case, an Andheri-based doctor, aged 53, has been tested positive along with his 43-year-old wife and 20-year-old daughter. The family doesn’t have a travel history. The doctor reportedly came in contact with the virus through a patient. MCGM has taken samples of 60 patients who came in contact with the doctor. "As of now, no patient from his contact has tested positive," Assistant Commissioner, Vishwas Mote.

Another doctor who practiced at Vakola tested positive after he came in contact with a person having travel history to Italy, later tested positive. The doctor has been admitted at Raheja hospital and samples of his close contact have been taken.

Mar 18: Madhya Pradesh Congress Party sought in the Supreme Court on Wednesday that the trust vote in the state assembly be deferred till by-polls for the vacant seats are concluded, saying "heavens are not going to fall" if its government led by Kamal Nath is allowed to remain in office till then.

A bench, comprising Justices D Y Chandrachud and Hemant Gupta, was hearing cross petitions filed by former Madhya Pradesh Chief Minister and senior BJP leader Shivraj Singh Chouhan and MP Congress on the ongoing political crisis in the state after 22 rebel MLAs of the ruling combine purportedly offered to resign.

"Heavens are not going to fall if Congress government is allowed to continue till by-polls and the Shivraj Singh Chouhan's government must not be saddled on the people," said senior advocate Dushyant Dave, appearing for Congress.

"Let them face re-elections and then hold trust vote... You (BJP) have engineered it. My petition raises the frontal attack that you have launched a conspiracy," he said.

Senior advocate Mukul Rohatgi, appearing for Chouhan, vociferously opposed the submission saying that the party which killed the democracy by imposing emergency in 1975 is now referring to "lofty ideals" of B R Ambedkar.

He said that after the resignations of 22 Congress MLAs, out of which six resignations have been accepted, the state government should not be allowed to continue even for a day.

"It is lust of power because of which all these lofty arguments are being made.

"It is unheard of that a person who had lost majority says that he wants to continue for six months and there should be re-election before the trust vote.

Rohatgi said the Kamal Nath government wanted to stay in power by hook or crook.

Earlier in the day, the Madhya Pradesh Congress told the bench that a probe is needed on the resignation letters of its rebel MLAs that have been submitted by BJP leaders to the Speaker of the state Assembly.

Dave said the Governor has no business to send messages at night asking the Chief Minister or Speaker to hold floor test.

"The Speaker is the ultimate master and the Madhya Pradesh Governor is overriding him," he said.

The party alleged that resignations of its rebel MLAs were extracted by force and coercion and they did not act as per their free will.

It also said that its rebel MLAs were taken away in chartered flights and are currently incommunicado in a resort arranged by the BJP.

The advancing of arguments will resume after lunch.

The Madhya Pradesh Congress Legislature party (MPCLP) had Tuesday moved the Supreme Court seeking direction to the Centre and the BJP-led Karnataka government to grant it access to communicate with its rebel MLAs allegedly kept at Bengaluru.

Earlier on Tuesday, the court had asked the Kamal Nath government in the state earlier in the day to respond by Wednesday to a plea by senior BJP leader Shivraj Singh Chouhan seeking immediate floor test in the Assembly.

MPCLP, in its plea filed by Govind Singh, an MLA and chief whip of Congress legislature party, urged the apex court to declare as illegal the action of the Centre, Karnataka government and the MP BJP of illegally confining its MLAs in Bangaluru.

The plea, filed through senior lawyer Devdutt Kamat, said the trust vote would be a "sham" if 22 MLAs did not take part in it as almost 10 per cent of constituencies go unrepresented.

The plea filed by Chouhan and nine BJP lawmakers was moved in the top court just after the Speaker cited coronavirus concerns and adjourned the House till March 26 without taking the floor test apparently defying the directions of Governor Lalji Tandon.

The plea alleged that the Speaker, the Chief Minister and the Principal Secretary of the Assembly have "flagrantly violated the constitutional principles and have deliberately and wilfully defied the directions" issued by the governor asking the government to prove the majority on the floor of the house on March 16 when when the budget session was to commence.

On Saturday night, Tandon wrote to Nath asking him to seek a trust vote in the Assembly soon after the Governor's address on Monday, saying his government was in minority.

After the Speaker accepted the resignation of six Congress MLAs on Saturday, the party now has 108 legislators.

These include 16 rebel legislators who have also put in their papers but their resignations are yet to be accepted.

The BJP has 107 seats in the House, which now has an effective strength of 222, with the majority mark being 112.