After Facebook, Silver Lake invests Rs 5,656 cr in Mukesh Ambani's Reliance Jio

Agencies
May 4, 2020

Mumbai, May 4: Days after Facebook, private equity firm Silver Lake said it will invest 56.56 billion rupees ($746.74 million) in Reliance Industries's digital arm, giving it a valuation of 4.90 trillion rupees. Silver Lake on Monday agreed to pay Rs 5,655.75 crore to buy 1.15 per cent stake in the firm that houses billionaire Mukesh Ambani's telecom arm Jio.

The investment in Jio Platforms comes within days of Facebook investing USD 5.7 billion to buy a 9.99 per cent stake in Jio Platforms. The investment is at a premium of 12.5 per cent to the Facebook deal.

"This investment values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and represents a 12.5 per cent premium to the equity valuation of the Facebook investment announced on April 22, 2020," Reliance said in a statement.

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Agencies
July 1,2020

Sopore, Jammu And Kashmir: A three-year-old boy survived as his grandfather was killed in a terror attack on the Central Reserve Police Force (CRPF) in Jammu and Kashmir's Sopore town this morning. A CRPF jawan was also killed in the line of duty as terrorists opened fire on a patrol team.

In heart-wrenching images, the child is seen sitting on the blood-splattered body of his grandfather, a civilian caught in the crossfire. The boy was numb with fear when he was picked up by policemen, according to the police.

The Kashmir police also tweeted a photo of the child being carried to safety by a policeman.

"Jammu and Kashmir police rescued a three-year-old boy from getting hit by bullets during the terrorist attack in Sopore," said the tweet by the Kashmir Zone Police.

The child was travelling in a Maruti car with his grandfather from Srinagar to Handwara when it was hit by a spray of bullets in Sopore town, which is in Baramulla district about 50 km from Srinagar.

The police said terrorists hiding in a mosque fired indiscriminately at the patrol team as it was getting off a bus. The CRPF troops retaliated but the terrorists managed to escape.

According to the CRPF, the grandfather stopped the car and got out to run to a safe spot but was shot dead in the firing by terrorists. The boy was later rescued by a policeman standing nearby.

Last week, a six-year-old boy was killed during a terror attack on the CRPF in Anantnag.

Little Nihaan Bhat was sleeping in a parked car when he was hit by a bullet. Police say the terrorist was on a bike and opened fire from a pistol on a CRPF patrol. One jawan was killed. The child's killing drew widespread anger and condemnation.

The terrorist believed to be involved in the Anantnag attack escaped yesterday after an encounter with security forces. Police said two other terrorists who were hiding with him at a village were killed.

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News Network
March 4,2020

New Delhi, Mar 4: The Supreme Court on Wednesday revoked the ban of cryptocurrency imposed by the Reserve Bank of India (RBI) in 2018.

Pronouncing the verdict, the three-judge bench of the apex court said the ban was 'disproportionate'.

The bench included Justice Rohinton Fali Nariman, Justice S Ravindra Bhat and Justice V Ramasubramanian.

The Internet and Mobile Association of India (IAMAI), whose members include cryptocurrency exchanges, and others had approached the top court objecting to a 2018 RBI circular directing regulated entities to not deal with cryptocurrencies.

Advocate Ashim Sood, appearing for IAMI, submitted that Reserve Bank of India lacked jurisdiction to forbid dealings in cryptocurrencies. The blanket ban was based on an erroneous understanding that it was impossible to regulate cryptocurrencies, Sood submitted.

The petitioners had argued that the RBI's circular taking cryptocurrencies out of the banking channels would deplete the ability of law enforcement agencies to regulate illegal activities in the industry.

IAMAI had claimed the move of RBI had effectively banned legitimate business activity via the virtual currencies (VCs).

The RBI on April 6, 2018, had issued the circular that barred RBI-regulated entities from "providing any service in relation to virtual currencies, including those of transfer or receipt of money in accounts relating to the purchase or sale of virtual currencies".

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Agencies
February 20,2020

Tirupur, Feb 20: Nineteen people died in a collision between a Kerala State Road Transport Corporation bus and a truck near Avinashi town of Tirupur district on Thursday morning here.

The bus was on its way to Ernakulam in Kerala from Bengaluru in Karnataka when the mishap occurred.

Deputy Tehsildar of Avinashi Town informed, "19 people that include 14 men and 5 women, died in the collision between the bus and the truck near Avinashi town."

The bodies have been taken to Tirupur government hospital.
Further details are awaited.

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