Rs 260 cr plan to reintroduce cheetah in India

Jammu, Jan 23: The National Investigation Agency (NIA) has brought the disgraced Deputy Superintendent of Police (DSP) Davinder Singh to Jammu for investigations.

According to sources, Davinder Singh has been brought on a transit remand. A formal remand from the NIA court for interrogation will be taken on Thursday.

On Wednesday, fresh raids were carried out by the NIA at Singh's residences in Srinagar.

Singh was caught while transporting two militants, Naveed Babu and Rafi Ahmed, and a lawyer Irfan Ahmed in a vehicle to Jammu on January 11.

According to sources the two militants and the lawyer had plans to travel to Pakistan after reaching Jammu.

The case was transferred to the NIA after initial investigation by the Jammu and Kashmir Police.

Singh has been dismissed from the service and the Jammu and Kashmir administration on Monday forfeited the commendation medal and certificate awarded to him.

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, Jan 23: Rashmi Sahijwala never expected to start working at the age of 59, let alone join India’s gig economy—now she is part of an army of housewives turning their homes into “cloud kitchens” to feed time-starved millennials.

Asia’s third-largest economy is battling a slowdown so sharp it is creating a drag on global growth, the International Monetary Fund said Monday, but there are some bright spots.

The gig economy, aided by cheap mobile data and abundant labour, has flourished in India, opening up new markets across the vast nation.

Although Indian women have long battled for access to education and employment opportunities, the biggest hurdle for many is convincing conservative families to let them leave home.

But new apps like Curryful, Homefoodi, and Nanighar are tapping the skills of housewives to slice, dice and prepare meals for hungry urbanites from the comfort of their homes.

The so-called cloud kitchens—restaurants that have no physical presence and a delivery-only model—are rising in popularity as there is a boom in food delivery apps such as Swiggy and Zomato.

“We want to be the Uber of home-cooked food,” said Ben Mathew, who launched Curryful in 2018, convinced that housewives were a huge untapped resource.

His company—which employs five people for the app’s daily operations—works with 52 women and three men, and the 31-year-old web entrepreneur hopes to get one million female chefs on-board by 2022.

“We usually train them in processes of sanitisation, cooking, prep time and packaging... and then launch them on the platform,” Mathew told news agency.

One of the first housewives to join Curryful in November 2018 shortly after its launch, Sahijwala was initially apprehensive, despite having four decades of experience in the kitchen.

But backed by her children, including her son who gave her regular feedback about her proposed dishes, she took the plunge.

Since then, she’s undergone a crash course in how to run a business, from creating weekly menus to buying supplies from wholesale markets to cut costs.

The learning curve was steep and Sahijwala switched from cooking everything from scratch to preparing curries and batters for breads in advance to save time and limit leftovers.

She even bought a massive freezer to store fruits and vegetables despite her husband’s reservations about the cost.

“I told him that I am a professional now,” she told news agency.

‘Internet restaurants’

Kallol Banerjee, co-founder of Rebel Foods which runs 301 cloud kitchens backing up 2,200 “internet restaurants”, was among the first entrepreneurs to embrace the concept in 2012.

“We could do more brands from one kitchen and cater to different customer requirements at multiple price points,” Banerjee told AFP.

The chefs buy the ingredients, supply the cookware and pay the utility bills.

The apps—which make their money through charging commission, such as more than 18 percent per order for Curryful—offer training and supply the chefs with containers and bags to pack the food in.

Curryful chef Chand Vyas, 55, spent years trying to set up a lunch delivery business but finally gave up after failing to compete with dabbawalas, Mumbai’s famously efficient food porters.

Today Vyas works seven hours a day, five days a week in her kitchen, serving up a bevy of Indian vegetarian staples, from street food favourites to lentils and rice according to the app’s weekly set menus.

“I don’t understand marketing or how to run a business but I know how to cook. So, the current partnership helps me focus on just that while Curryful takes care of the rest,” Vyas told AFP.

She pockets up to $150 (Rs 10,000 approx) a month after accounting for the commissions and costs, but hopes to earn more as the orders increase.

In contrast, a chef at a bricks-and-mortar restaurant takes home a monthly wage of between $300 (Rs 20,000 approx) and $1,000 (Rs 70,000) approx for working six days a week.

With India’s cloud kitchen sector expected to reach $1.05 billion by 2023, according to data platform Inc42, other companies are also keen to get a slice of the action.

Swiggy, for example, has invested 2.5 billion rupees ($35.3 million) in opening 1,000 cloud kitchens across the nation.

Back in her Mumbai kitchen, Sahijwala is elated to have embarked on a career at an age when her contemporaries are eyeing retirement.

Over the past year, she has seen her profit grow to $200 (Rs 15,000 approx) a month, but more importantly, she said, “My passion has finally found an outlet.

“I am just glad life has given me this chance.”