Richest Indian Mukesh Ambani with net worth is just 3.8 lakh crore!

Agencies
September 25, 2019

Mumbai, Sept 25: Reliance Industries' Chairman Mukesh Ambani has topped the list of richest Indians for the eighth consecutive year, with a net worth of Rs 3,80,700 crore, according to the latest IIFL Wealth Hurun India Rich List.

London-based SP Hinduja & family, with assets worth Rs 1,86,500 crore, retained the second rank in the list, followed by Wipro founder Azim Premji at the third place with a wealth of Rs 1,17,100 crore.

According to the latest IIFL Wealth Hurun India Rich List, the number of Indians having a net worth of more than Rs 1,000 crore has grown to 953 this year from 831 in 2018; while, the number of billionaires in terms of US dollar has reduced to 138 from 141.

"The combined wealth of top 25 in the list equates to 10 per cent of India's GDP and that of 953 accounts for 27 per cent," it said.

L N Mittal, chairman and CEO of ArcelorMittal, was the 4th richest with a wealth of Rs 1,07,300 crore and Gautam Adani was placed on the 5th position with a net worth of Rs 94,500 crore.

Others in the top 10 include Uday Kotak at the 6th place with a wealth of Rs 94,100 crore, Cyrus S Poonawalla at 7th position with Rs 88,800 crore assets, Cyrus Pallonji Mistry at 8th spot with a wealth of Rs 76,800 crore, Shapoor Pallonji at 9th position with a net worth of Rs 76,800 crore and Dilip Shanghvi at 10th slot with Rs 71,500-crore wealth.

Interestingly, while the cumulative wealth for this year shows an increase of 2 per cent compared to last year, the average wealth shows a decline of 11 per cent, IFL Wealth Hurun India Rich List said.

As many as 344 individuals or more than a third of this year's list witnessed wealth reduction and another 112 could not meet the threshold of Rs 1,000 crore, it added.

"Globally, the wealth creators drive the growth and therefore play a vital role in shaping the economy. With Indian Government setting its sight on USD 5 trillion GDP mark – we are confident that the size of the India Rich List will easily triple in the next 5 years," said Anas Rahman Junaid, MD & Chief Researcher, Hurun Report India.

With 246 individuals or 26 per cent of the list, Mumbai is the absolute capital when it comes to the residence of India's top entrepreneurs, followed by New Delhi (175) and Bengaluru (77).

There are 82 NRIs on the coveted list of which 76 per cent are self-made. With 31 individuals, USA is the most preferred country for NRIs, followed by the UAE and the UK.

With a net worth of Rs 7,500 crore, Ritesh Agarwal (25) of Oyo Rooms is the youngest selfmade entrepreneur and the wealthiest under 40 years (age) is Divyank Turakhia (37) of Media.net.

The list includes 152 women with an average age of 56 years.

Roshni Nadar (37) of HCL technologies is the richest woman followed by Smita V Crishna (68) of Godrej Group with a net worth of Rs 31,400 crore. With a net worth of Rs 18,500 crore, Kiran Mazumdar-Shaw of Biocon retains the crown of the richest self-made woman in India.

"With the India story gaining momentum, supported by a young and an aspirational demography – the potential of wealth management in the country has merely scratched the surface," said Yatin Shah, Co-founder & Executive Director, IIFL Wealth Management Ltd.

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News Network
February 14,2020

Bengaluru, Feb 14: Karnataka Legislative Assembly Speaker Vishvesha Hegde Kageri on Friday announced continuation of ban on private TV channels from live coverage of the Budget Session being held this Month and next month.

Addressing a press conference here, Mr Kageri said that the ban was imposed on the lines of practice in Lok Sabha and Rajya Sabha in the Parliament. Private channels will not be allowed to cover live on going session instead they will be provided with clippings by the concerned Department as was done during the previous Session.

For the first time in the history the BJP government, which had come to power for the second time in the state last year after pulling down Congress-JDS coalition government, had banned live coverage of the session by private channels and despite Chief Minister BS Yediyurappa's appeal the ban was not lifted.

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News Network
May 5,2020

Dubai, May 5: Saudi Arabian prosecutors have ordered the arrest of a Saudi citizen for insulting an Asian expatriate and abusing him for not embracing Islam.

A video went viral online showing the expat, apparently with little knowledge of the Arabic language, being insulated by an Arabic-speaking man who does not appear in the clip, for having not embraced Islam and for not fasting.

A monitoring centre affiliated with the public prosecution examined the video the content of which “shows the citizen’s use of abusive words against the Asian resident on the pretext of inviting him to Islam,” the prosecution source said.

“The public prosecution closely follows up whatever infringes rights of citizens and residents including harm to their dignity and legal rights regardless of pretexts of such infringement,” the source added.

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Agencies
June 15,2020

Bengaluru, Jun 15: Karnataka Chief Minister B S Yediyurappa on Monday said those coming to the state from Chennai and Delhi will have to undergo three days of institutional quarantine followed by 11 days of home isolation.

Up till now a seven-day institutional quarantine was prescribed for those returning from Maharashtra, while there was no mandatory institutional quarantine for asymptomatic people returning to Karnataka from other states.

Those returning from states other than Maharashtra were asked to quarantine themselves at home.

"Those coming from Maharashtra are subjected to seven days of institutional quarantine followed by seven days of home quarantine, while those coming from Chennai and Delhi will have to go for three days of institutional quarantine and eleven days of home quarantine," Yediyurappa said.

Speaking to reporters here, he said the decision has been taken following the increase in the number of coronavirus cases from these states.

"It is because of returnees from other states the cases have increased, not because of the local (intra-state) movement, so we have to control people coming from outside, we have to quarantine them and have to tighten measures.

We are making honest efforts in this regard," he added.

Yediyurappa was speaking to reporters after chairing a meeting with top ministers and officials to discuss about the surge in COVID cases in the state.

"There are no plans for any lockdown, and we will request the Prime Minister for more relaxations," the Chief Minister said in response to a question.

Out of total 7,000 cases in the state 4,386 are returnees from Maharashtra and their contacts are 1,340.

Those who returned from abroad comprise 216.

Returnees from other states constitute- Delhi 87, Tamil Nadu 67, Gujarat 62.

Noting that there are indications that the coronavirus infections are expected to increase in the days to come, Yediyurappa assured people that the government will take all precautionary measures required, and appealed to people to cooperate, follow social distancing, and wear masks.

He said it has been decided to observe the coming Thursday as "mask days" by organising a walk across the state and the main event will be held at Vidhana Soudha, the state secretariat.

"Strict measures will be taken against those not wearing masks and not maintaining social distancing here on.

Initially Rs 200 fine will be imposed, this will be throughout the state," he said.

Further stating that the government has made special efforts to control the spread of COVID, he said a special COVID-19 taskforce has been constituted for Bengaluru and surrounding areas, BBMP (city civic body) commissioner and Deputy Commissioners of neighbouring districts have been asked to pay special attention.

As of June 14 evening, cumulatively 7,000 COVID-19 positive cases have been confirmed in the state, which includes 86 deaths and 3,955 discharges.

Out of 2,956 active cases in the state till last evening, 2,940 patients are in isolation at designated hospitals and are stable, while 16 are in ICU.

Yediyurappa said the state's mortality rate is 1.2 per cent while the national average is 2.8 per cent.

The state's recovery rate is 56.6 per cent and the national average is 51 per cent, he said, adding that 93 per cent of the total cases are asymptomatic while the remaining seven per cent are symptomatic.

In Bengaluru, there are 697 cases and out of them 330 are active. The city has reported 36 deaths.

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