Rahul attacks Modi on land bill, says 56-inch chest will be reduced to 5.6

July 17, 2015

Jaipur, Jul 17: Sharpening his attack on Prime Minister Narendra Modi over the land bill, Congress leader Rahul Gandhi today said farmers will reduce his "56-inch chest" to "5.6 inches" in six months and not an inch of land will be ceded.

rahul-gandhiHe also took on the Vasundhara Raje government over her links with Lalit Modi, charging the Rajasthan government was being run by the ex-IPL boss' remote in London.

The Congress Vice President's remarks come at a time when the government is planning to bring the contentious land bill in the Monsoon session of Parliament beginning next week.

Addressing party workers here, Rahul vowed not to allow passage of the Land bill in Parliament even though Modi government has thrice issued ordinances to this effect.

"First time such a government has come which is helping the opposition. Whenever they get an opportunity, government is helping the Congress. On farmers' issue, they have issued an ordinance thrice. We will not allow the land bill to be passed in Parliament, you will see. Not a single inch of land will be given.

"This 56-inch chest will turn into 5.6 inches in six months. And who will turn this into 5.6 inches, it is the Congress party, people of the country, the farmers and the labourers, you will see," Rahul said, taking a jibe at the Prime Minister's remark of "56-inch chest" made at the time of the Lok Sabha campaign.

The Congress Vice President also compared the Raje government with the British government in the pre-Independence era when the "remote" of the government was in London.

"The way that government's remote was in London, the same way the remote control of this government is in London. He presses the button there and here she (Vasundhara Raje) jumps," he alleged.

Accusing the Chief Minister of helping a "fugitive" who had amassed black money, he said, "She broke the Indian laws by helping a wanted fugitive, a corrupt man who made black money".

"Here it is not a Vasundhara government, but a Lalit Modi government. Everyone in Rajasthan knows, this is not a BJP government or a Vasundhara government, it is Lalit Modi government here," he charged.

Rahul also accused the Prime Minister of making empty promises ahead of elections and now turning the other way by remaining silent on corruption.

Hitting out at the Prime Minister for talking of giving Rs 15 lakh to account holders by bringing in black money stashed abroad, the Congress Vice President said, "He (Lalit Modi) is sitting in London with lakhs of crores. Bring him back and remove his government here and install a people's government instead."

Taking a jibe at his promise of not doing corruption or allowing it, Rahul said, "Please fulfil that promise and bring Lalit Modi back and remove his government in Rajasthan".

Rahul, who wrapped up his two-day visit to Rajasthan, where he also undertook a 10-km 'padayatra' and interacted with farmers, said, "In earlier times, those who ruled over India had given their powers to London. The same way, your Chief Minister has signed an authority in England and said I want to help an absconder but Indian people should not know.

"In her earlier term as Chief Minister, they did business together and Lalit Modi invested money in her son's hotel, which I am told is a government property," Rahul charged.

Citing the film 'Lagaan', he said, "The characters in the film got united against the British officers who had their remote control in London. Similarly, Raje government's remote control was in the hands of Lalit Modi in London."

The Congress leader also attacked the BJP governments in various states by saying, "Here it is the Lalit Modi government, in Madhya Pradesh it is a Vyapam government, in Maharashtra it is a Munde government and in Chhattisgarh it is a 'dhaan' government. And the Prime Minister with a 56-inch chest is not uttering a single word."

He also lashed out at the Rajasthan government for closing down schools and hospitals, alleging that as many as 17,000 schools had been shut by the Raje government.

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News Network
May 28,2020

Bhopal, May 28: A Bhopal-based high net worth individual hired a 180-seater A320 plane of a private carrier to ferry four family members to New Delhi, in a bid to avoid crowd at the airport and in flight amid the COVID-19 outbreak, officials said on Thursday.

The person, who is a liquor baron, chartered the aircraft to send to Delhi his daughter, her two children and their maid, who were stuck in Bhopal since the last two months due to the coronavirus-induced lockdown, sources said.

The plane arrived here from Delhi on Monday with crew only and flew back with just four passengers for whom it was specially hired, they said.

"The A320 180-seater plane arrived here on May 25 to carry four members of a family, probably due to the coronavirus scare. It was chartered by someone and there was no medical emergency, an airline official said, refusing to divulge any further details.

Bhopals Rajabhoj Airport Director Anil Vikram could not be contacted for comments.

According to aviation experts, the cost of hiring an Airbus-320 is about Rs 20 lakh.

Domestic commercial flight services resumed from Monday, after a nearly two-month break due to the coronavirus-enforced lockdown.

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News Network
March 16,2020

Mar 16: An investigation into Coffee Day Enterprises Ltd., initiated by its board after the death of founder V.G. Siddhartha, is likely to conclude that at least Rs 2,000 crore is missing from its accounts, according to people familiar with the matter.

The months-long probe following the suicide of Siddhartha in July examined the financial transactions of India’s largest coffee chain and its dealings with dozens of private companies owned by the entrepreneur. The draft report, running more than a hundred pages, points to thousands of rupees that have gone missing, said the people, asking not to be named because the details aren’t public. It also details hundreds of transactions between the founder’s listed and personal businesses that were not conducted at arm’s length, they said.

Though the report is in its final stages, the precise details could change before its release, expected as early as this week, the people said. The missing funds could total more than Rs 2500 crore, one person said.

“The investigation report is still a work in progress, and not finalized,” a spokesman for the company said. “The board of directors and the company are unaware of its content at this point of time. Hence it would be premature to speculate on the investigation findings.”

The priority for management and Siddhartha’s family “is to keep the business running in a challenging environment and meet all stakeholder commitments, including 30,000 jobs associated with the group,” the spokesman added.

The disappearance of the 59-year-old founder last year stunned India’s business community. He had last been seen telling his driver he was going for an evening walk along a bridge in southern India; his body was found by local fishermen two days later. A letter delivered to Coffee Day’s board and employees, which appeared to be signed by Siddhartha, described massive debts and complained of pressure from lenders and tax authorities. It claimed he bore sole responsibility for the company’s financial transactions.

The probe began about a month later when the company brought in Ashok Kumar Malhotra, a retired senior official from India’s federal enforcement agency, to investigate. A senior lawyer practicing in India’s top court is assisting, the company said in a regulatory filing at the time.

The publicly traded Coffee Day was supposed to be India’s answer to Starbucks Corp. More than 1,500 of its Café Coffee Day outlets blanketed cities and highways, with affordable options for the country’s aspiring middle classes. The chain’s tagline: “A lot can happen over coffee.”

But the empire has been battered since the founder’s death. Its shares plummeted about 90% and its market value dropped to about $80 million. Trading was suspended in February.

India’s regulators are tracking the situation and may use the company’s final report as part of a deeper dive into its internal affairs, the people said. Coffee Day showed about Rs 2400 crore in cash and cash equivalents on its balance sheet as of March 2019, the most recent figures the company has issued.

After the death of Siddhartha however, the company faced a severe liquidity crunch and had “zero cash in the bank,” according to one of the people. It struggled with day-to-day expenses and paying salaries has been a strain, the person said.

The draft report details personal guarantees by Siddhartha for loans taken by Coffee Day, and his unsecured loans at high interest rates from local money lenders, the people said. It also probes Coffee Day’s defaults to coffee growers and other vendors, they said.

A related issue is that coffee estates owned by Siddhartha and several employees had been used as collateral for bank loans. The report found that valuations for properties were inflated to get the loans, one person said.

Investigators have examined several theories about what happened to the company’s money, including whether Coffee Day was manipulating its finances to show cash and profit and whether Siddhartha was taking cash out of the listed company to pay off a large investor to whom he had guaranteed a return, the person said. From the filings of his listed and private companies, the entrepreneur’s loans had totaled more than Rs 10,000 crore, and he had been squeezed by borrowing to repay interest on earlier loans, the person said.

In the letter purportedly from Siddhartha, the entrepreneur said he had tried his best but failed as an entrepreneur. “I am solely responsible for all mistakes,” the letter read. “Every financial transaction is my responsibility. My team, auditors and senior management are totally unaware of all my transactions. The law should hold me and only me accountable, as I have withheld this information from everybody including my family.”

As the report nears release, Coffee Day is finalizing a deal with Blackstone Group Inc. for real estate assets. A large tranche of the payment is due in about a week, one person said.

Coffee Day said it is working to reduce its debt load by divesting non-core enterprises.

“The aim is to save employment and preserve this iconic Indian brand,” the spokesman said.

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News Network
June 10,2020

New Delhi, Jun 10: Petrol price on Wednesday was hiked by 40 paise per litre and diesel by 45 paise, the fourth straight daily increase in rates after oil PSUs ended an 82-day hiatus in rate revision. Petrol price in Delhi was hiked to Rs 73.40 per litre from Rs 73, while diesel rates were increased to Rs 71.62 a litre from Rs 71.17, according to a price notification of state oil marketing companies.

Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.

This is the fourth daily increase in rates in a row since oil companies on Sunday restarted revising prices in line with costs, after ending an 82-day hiatus.

In four hikes, petrol price has gone up by Rs 2.14 per litre and diesel by Rs 2.23.

Latest petrol, diesel prices in top cities:

New Delhi: Petrol ₹73.40. Diesel ₹71.62

Gurgaon: Petrol ₹72.86. Diesel ₹64.90

Mumbai: Petrol ₹80.40. Diesel ₹70.35

Chennai: Petrol ₹77.43. Diesel ₹70.13

Hyderabad: Petrol ₹76.20. Diesel ₹70b

Bengaluru: Petrol ₹75.77. Diesel ₹68.09

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