Sonia falls ill, leaves Varanasi roadshow towards the fag end

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.

Agra, Feb 25: The architectural grandeur of 17th century Taj Mahal and the story of its construction by Mughal Emperor Shah Jahan left US President Donald Trump "impressed" during his visit to the famed mausoleum, according to the guide who accompanied him.

Nitin Kumar, an Agra-based guide, said the first word the president said after laying his eyes on the marble marvel was "incredible".

He and First Lady Melania Trump visited on Monday the iconic Taj Mahal in Agra, the second stop on his little less than 36-hour-long trip of India, and marvelled at the Mughal-era mausoleum built as a monument of love.

After Dwight David Eisenhower (1959) and Bill Clinton (2000), he became the third US president to visit the architectural icon.

"I told them the story of the Taj Mahal, the construction, and the story behind it. President Trump got very emotional after knowing the story of Shah Jahan and his wife Mumtaz Mahal. How he was kept under house arrest by his own son Aurangzeb, and buried here at Taj, next to Mumtaz's grave, after his death," Kumar told reporters.

The couple was left speechless on the first sight of the monument, and showed interest when they were told about the history and architecture of the dome, and the design details, Kumar said.

"Melania Trump asked about the mud-pack treatment and was amazed when she got to know the details of the process," he said.

One of the most photographed sites in the world, it is always high on the itinerary of head of states visiting India.

The monument was built over a period of nearly 20 years by Shah Jahan in memory of his wife after her death in 1631.

"The Taj Mahal inspires awe, a timeless testament to the rich and diverse beauty of Indian Culture!' Thank You, India," the US President and First Lady jointly wrote in the visitors' book before signing it.

According to Mohammed Zafar, who lives close to Taj Mahal complex, Nitin has been conducting guided tours for many years. "He was selected for this VVIP visit," he said.

"Many people were taking selfies with him, after the end of the visit. So, many media persons interacted with him. He has got some instant fame of sorts," Zafar said.

Authorities at Archaeological Survey of India had "advanced the dates" for mud-pack treatment for the graves of Shah Jahan and Mumtaz Mahal at Taj Mahal in view of the US President Trump's visit to Taj, a senior official had earlier said.

New Delhi, Jun 22: The Delhi Police Monday urged the Delhi High Court to grant them a day’s more time for seeking instructions on a plea by Jamia student Safoora Zargar, who was pregnant and arrested under the anti-terror law --UAPA--, seeking bail in a case related to communal violence in northeast Delhi during protests against the Citizenship Amendment Act in February.

Justice Rajiv Shakdher, who conducted the hearing through video conferencing, allowed the request after Zargar’s counsel said she has no objection to it and listed the matter for Tuesday.

Zargar, M Phil student of Jamia Millia Islamia University, is more than four months pregnant.

During the hearing, Solicitor General Tushar Mehta, representing the Delhi Police, sought a day’s time to take instructions on the issue and said it will be in “larger interest” if he is given indulgence.

Additional Solicitor General (ASG) Aman Lekhi also joined Mehta and said they are ready with the arguments on merits of the case but they do not intend to proceed on merits at this stage.

Advocate Nitya Ramakrishnan, appearing for Zargar, said the woman is in a delicate state and is in a fairly advanced stage pregnancy and if the police need time to respond to the plea, she be granted interim bail for the time being.

The high court asked Solicitor General (SG) Tushar Mehta to come back with instructions on Tuesday.

The police has also filed a status report in response to the bail plea.

Jamia Coordination Committee member Zargar, who was arrested by the Special Cell of Delhi Police on April 10, has challenged in the high court the June 4 order of the trial court denying her bail in the case.

The hearing in the high court also witnessed exchange of words between Mehta, Lekhi on one side and Delhi government standing counsel (criminal) Rahul Mehra who objected the appearance of the two senior law officers on behalf of Delhi Police in the case.

Mehra contended that unlike another North East Delhi violence matter in which requisite approval was sought by the Delhi Police to be represented by a team of lawyers led by the Solicitor General, no such procedure was followed in this case.

"They know that my view in such cases will be more humanitarian and not as per their whims and fancies. I am not supposed to be the mouth piece of the Delhi Police, I am an officer of the court," he said.

Lekhi shot back "a client chooses the lawyer and a lawyer cannot impose himself on the client.

He said this controversy would deviate the court from the issue in hand and Mehra's objection can be kept aside in this case.

The high court concluded the hearing, asking the counsel for Delhi Police to sort out their battles by tomorrow.

 The trial court, in its order, had said “when you choose to play with embers, you cannot blame the wind to have carried the spark a bit too far and spread the fire.”

It had said that during the course of investigation a larger conspiracy was discernible and if there was prima facie evidence of conspiracy, acts and statements made by any one of the conspirators, it is admissible against all.

The trial court had said that even if there was no direct act of violence attributable to the accused (Zargar), she cannot shy away from her liability under the provisions of the Unlawful Activities (Prevention) Act (UAPA).

However, the trial court had asked the concerned jail superintendent to provide adequate medical aid and the assistance to Zargar.

The police had earlier claimed that Zargar allegedly blocked a road near Jaffrabad metro station during the anti-CAA protests and instigated people that led to the riots in the area.

It further claimed that she was allegedly part of the “premediated conspiracy” to incite communal riots in northeast Delhi in February.

Communal clashes had broken out in northeast Delhi on February 24 after violence between citizenship law supporters and protesters spiralled out of control leaving at least 53 people dead and scores injured.