Rahul Gandhi now more than a match to Narendra Modi: Moily

Agencies
February 6, 2018

Hyderabad, Feb 6: Rahul Gandhi has emerged as "more than a match" to Prime Minister Narendra Modi and the aspiration of the party and youth is to see him as the country's PM, senior Congress leader M Veerappa Moily said here.

Asked about media reports suggesting that senior leaders like NCP chief Sharad Pawar and Trinamool Congress supremo Mamata Banerjee, both of whom were earlier in the Congress, maybe nursing an ambition to lead the UPA, he said, "Ambition is different, but the practical reality is another (matter)."

"The Congress has a pan-Indian person and identity," the former chief minister of Karnataka told PTI, stressing that only a party having nationwide presence fits the bill to lead the opposition bloc against the BJP.

The former Union minister claimed the Congress' victory in the recent by-polls in Rajasthan is a clear indication that the NDA government is facing a lot of "unpopularity" and the "national-level graph" of the prime minister is "steeply coming down".

"The election 'jumla' (rhetoric) will not be trusted by the people. There is a total trust deficit. There is a lot of difference between what they (the BJP) assure and what they implement," Moily alleged.

He claimed the Congress would get a majority in Rajasthan which goes to polls later this year and that the UPA would also form the government at the Centre after the Lok Sabha elections.

Asked if Rahul Gandhi would be projected as the UPA's prime ministerial candidate, Moily said, "Yes, he is our Congress president, this is our aspiration...of the entire country...youth require it."

"Now, he is more than a match to Narendra Modi, he has emerged like that, as a strong personality," he told PTI.

On the perception in some quarters that senior politicians like Sharad Pawar and Mamata Banerjee might be reluctant to work under Rahul Gandhi, he said "these are localised conflicts".

"Each party would like to develop itself as a national party, nothing wrong in it. Ultimately, to face a communal party like the BJP, I think there is some understanding between the Congress party and other parties which are opposed to communal parties, and this kind of understanding, I don't think there is a dispute," Moily said.

He termed Sonia Gandhi - who recently stepped down as the Congress president but continues to be parliamentary party leader and UPA chairperson - as an "inspirational personality" for his party, the UPA allies and for the country.

"The Congress has never intended to impose its leadership on anybody (the UPA allies). It's a question of how you approach. There should be a pan-India personality of a political party, particularly to lead an alliance against the communal party like the BJP, you require a credible and pan-Indian personality...party," he said.

On suggestions that the Congress lost out in the recent Gujarat Assembly elections as it did not project a chief ministerial candidate, Moily said it may be one of the reasons but it's not the sole one.

The Congress cannot have a uniform policy on projecting a leader for the post of chief minister as it depends on the situation and circumstances in the party as well as the states concerned, he said.

"From state to state, this will change. State to state things will differ. And we cannot have a uniform policy (in different states) or approach to name the leader for chief ministership," Moily added.

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Agencies
June 18,2020

New Delhi, Jun 18: Reliance Industries Ltd on Thursday said it has sold a 2.32 per cent stake in its digital unit to Saudi Arabia's Public Investment Fund (PIF) for Rs 11,367 crore, taking the cumulative fund raising to about Rs 1.16 lakh crore in two months.

Starting with Facebook Inc on April 22, Reliance has sold almost 25 per cent of equity in Jio Platforms - the maximum reports suggest the company intends to dilute to financial investors.

The investment by Saudi sovereign wealth fund is "at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore", the company said in a statement.

With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic, resulting in a recession kind of environment for the global economy.

"With the addition of PIF's investment, Jio Platforms has established partnerships with a marquee set of global financial investors, who will contribute to establishing the Digital Society vision for India," the statement said.

Jio Platforms houses India's biggest telecom firm by subscribers, Reliance Jio. With more than 388 million users, Jio has forced out several rivals and driven consolidation in the sector since entering the market in 2016 with free voice services and cut-price data.

Over the past two months, billionaire Mukesh Ambani's oil-to-telecom conglomerate has announced the sale of about $14 billion of assets, completed a Rs 53,124 crore rights issue and slowed the run rate of new investment by a quarter.

These will help Reliance meet its target of paying off Rs 1.61 lakh crore of net debt by the end of the year.
This is PIF's largest investment into the Indian economy to date.

Ambani, chairman and managing director of Reliance Industries, said, "We at Reliance have enjoyed a long and fruitful relationship with the Kingdom of Saudi Arabia for many decades. From oil economy, this relationship is now moving to strengthen India's New oil (data-driven) economy, as is evident from PIF's investment into Jio Platforms."

Yasir Al-Rumayyan, governor of PIF, commented: "We are delighted to be investing in an innovative business which is at the forefront of the transformation of the technology sector in India. We believe that the potential of the Indian digital economy is very exciting and that Jio Platforms provides us with an excellent opportunity to gain access to that growth."

"This investment will also enable us to generate significant long-term commercial returns for the benefit of Saudi Arabia's economy and our country's citizens, in line with our mandate to safeguard and grow the national wealth of the Kingdom," he said.

The transaction is subject to Indian regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.

Prior to this deal, Reliance had sold 22.38 per cent of Jio Platforms to investors including Facebook Inc, securing Rs 104,326.95 crore in eight weeks.

Facebook kicked off the party, investing Rs 43,573.62 crore for a 9.99 per cent stake on April 22. This was closely followed by a further Rs 60,753.33 crore in investment.

Silver Lake - the world's largest tech investor - bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore on May 4. It invested another Rs 4,546.80 crore for additional 0.93 per cent stake on June 5, taking its total holding to 2.08 per cent
Private equity KKR and Vista Equity Partners have taken 2.32 per cent stake each for Rs 11,367 crore apiece. KKR invested in Jio Platforms on May 22 while Vista invested on May 8.

Abu Dhabi sovereign wealth fund Mubadala Investment Co picked up 1.85 per cent in Jio Platforms for Rs 9,093.60 crore on June 5. Abu Dhabi Investment Authority on June 7 invested Rs 5,683.50 crore for a 1.16 per cent stake in Jio Platforms.

On May 17, global equity firm General Atlantic picked up 1.34 per cent stake in Jio Platforms for Rs 6,598.38 crore.

Global investment firm TPG on June 13 picked up 0.93 per cent for Rs 4,546.80 crore while L Catterton bought 0.39 per cent for Rs 1,894.50 crore.

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News Network
May 11,2020

New Delhi, May 11: With an increase of 4,213 cases in the past 24 hours, India's COVID-19 count reached 67,152 on Monday, according to the Union Ministry of Health and Family Welfare.

The number of active cases in the country rose to 44,029, while 20,916 patients have been cured and discharged and one has migrated, according to the Ministry.

The number of deaths in the country due to the infection reached 2,206 on Sunday.

Maharashtra, with 22,171 confirmed cases is the worst-affected due to the infection so far and is followed by Gujarat with 8,194 cases.

However, Tamil Nadu surpassed the national capital in total coronavirus cases numbers. Delhi has 6,923 reported cases while Tamil Nadu has 7,204 confirmed cases.

Maximum deaths due to coronavirus have so far been recorded in Maharashtra (832), followed by Gujarat which has toll of 493.

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News Network
June 2,2020

New Delhi, Jun 2: Manu Sharma, a convict in the 1999 Jessica Lal murder case, was released from Tihar Jail yesterday on the grounds of good behaviour after serving more than 16 years in prison, jail officials said on Tuesday.

Sharma had received the approval of the Lieutenant Governor of Delhi for his release after a recommendation of the Sentence Review Board for the same.

Advocate Amit Sahni, while speaking to ANI, had said that Delhi Lieutenant Governor Anil Baijal had approved the name of Siddharth Vashishth also known as Manu Sharma for release from Tihar Jail.

He said that Sharma's name was approved in a sentence review board meeting held on May 11. Earlier, Delhi High Court had also asked the SRB to consider his name for release.

Sharma, the son of former Congress leader Venod Sharma, was convicted for shooting and murdering Jessica Lal, when she refused to serve him liquor at Tamarind Court restaurant at Qutub Colonnade in south Delhi's Mehrauli on April 29, 1999.

Vashishth, 45-years-old, was serving a life term in connection with a case registered under Section 302 (murder), 201 (causing disappearance of evidence of the offense or giving false information to screen offender) and 120B (criminal conspiracy) of the Indian Penal Code (IPC).

According to officials, the convict has undergone imprisonment for 16 years, 11 months and 24 days in actual, and 23 years 4 months and 22 days with remission. He has availed parole 12 times and furlough 24 times.

Earlier, Manu's wife -- Preity Sharma -- had approached the National Human Rights Commission (NHRC) claiming that her husband had been illegally detained for more than the prescribed period of incarceration (20 years with remission) as per the prevalent policy of the state.

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