West Bengal civic polls begins amidst violence: One shot dead

May 9: Two more companies are said to be eyeing stakes in Reliance Jio Platforms, the $65-billion digital unit of Mukesh Ambani-controlled Reliance Industries, suggests a Bloomberg report. If these deals materialise, they would add to a growing list of firms that have recently invested in the Indian company.

US private equity firm General Atlantic was considering investing about $850 million to $950 million in the Mumbai-based company, a Bloomberg report said, citing people with knowledge of the matter.

The deal could be completed as soon as this month, though no agreement had been finalised and plans may change, it added.

Saudi Arabia's Public Investment Fund (PIF) is also considering to buy a minority stake in Jio, Bloomberg said in a separate report.

General Atlantic declined to comment on the report, while Jio and PIF did not immediately respond to Reuters request for comment. Hours earlier on Friday, Reliance Industries announced a $1.5 billion stake sale in Jio to Vista Equity Partners, the third deal in just over two weeks.

The conglomerate cut a $5.7 billion deal with Facebook for a 9.99 per cent stake in Jio on April 22 and a few days later, it secured a $750 million investment from private equity firm Silver Lake.

Together the three deals will inject a combined $8 billion in the telecoms-to-energy group and help it pare its debt.

Vista's investment gave Jio an equity value of Rs 4.91 trillion ($65 billion) and an enterprise value of Rs 5.16 trillion, said Reliance, controlled by billionaire tycoon Mukesh Ambani.

The potential investments from New York-based General Atlantic and the Saudi sovereign wealth fund, which manages over $300 billion in assets, would inject money on top of the $8 billion which Jio has already raised.

Saudi's PIF has been buying minority stakes several companies. Last month, it disclosed an 8.2 per cent stake in coronavirus-hit Carnival Corp, sending the cruise operator's shares up nearly 30 per cent higher.

New Delhi, Jan 4: The Supreme Court on Thursday extended till June 12 its earlier order of May 15 asking the government not to take any coercive action against companies and employers for violation of Centre's March 29 circular for payment of full wages to employees for the lockdown period.

A bench of Justices Ashok Bhushan, S K Kaul and M R Shah reserved the verdict on a batch of petitions filed by various companies challenging the circular of the Ministry of Home Affairs issued on March 29 asking the employers to pay full wages to the employees during the nationwide lockdown due to the coronavirus pandemic.

In the proceedings conducted through video conferencing, the top court said there was a concern that workmen should not be left without pay, but there may be a situation where the industry may not have money to pay and hence, the balancing has to be done.

Meanwhile, the apex court asked the parties to file their written submissions in support of their claims.

The top court on May 15 had asked the government not to take any coercive action against the companies and employers who are unable to pay full wages to their employees during the nationwide lockdown due to the coronavirus pandemic.

The Centre also filed an affidavit justifying its March 29 direction saying that the employers claiming incapacity in paying salaries must be directed to furnish their audited balance sheets and accounts in the court.

The government has said that the March 29 directive was a "temporary measure to mitigate the financial hardship" of employees and workers, specially contractual and casual, during the lockdown period and the directions have been revoked by the authority with effect from May 18.

Mar 11: In a bid to keep its flock together, the crisis-hit Madhya Pradesh Congress has decided to shift its 92 MLAs either to Jaipur or some other place.

The move comes after 22 Congress MLAs loyal to former Union minister Jyotiraditya Scindia resigned on Tuesday, pushing the 15-month-old Kamal Nath government to the brink of collapse.

"We are going to take our 92 MLAs and those supporting our Madhya Pradesh government to a hotel," a senior Congress leader said on Wednesday.

The legislators would be taken either to Jaipur or some other Congress-ruled state like Chhattisgarh, a party source said.

Apart from its own MLAs, the Congress is also keeping a close watch on four Independents who are supporting the party-led state government.

On Tuesday, 22 Congress MLAs from Madhya Pradesh resigned soon after Scindia quit the party.

The development reduced the Congress government in the state to minority.

The state Congress unit is now making all efforts to save the Kamal Nath-led government.

The BJP on Tuesday night shifted its MLAs to Manesar at Gurugram in Haryana, sources in the saffron party said.

The Congress, whose tally before the rebellion was 114, has a wafer-thin majority in the Madhya Pradesh Assembly whose current effective strength is 228.

It also has the support of four Independents, two BSP legislators and one SP MLA, but some of them are now likely to switch sides to the BJP.

The BJP has 107 seats in the state Assembly.