Now that's something new-Man collects every movie ticket he watched since 1979

New Delhi, Mar 7: The Union government has issued a Global Invite for Expression of Interest for disinvestment in Bharat Petroleum Corporation Limited (BPCL) from prospective bidders with a minimum net worth of $10 billion as of Saturday.

The EoI submissions can be made till May 2, whereas investor queries will be entertained till April 4.

Another condition pertains to a maximum of four members are permitted in a consortium, and the lead member must hold 40 per cent in proportion. Other members of the consortium must have a minimum $1 billion net worth.

The EOI allows changes in the consortium within 45 days, though the lead member cannot be changed.

The GoI proposes to disinvest its entire shareholding in BPCL comprising 1,14,91,83,592 equity shares held through the Ministry of Petroleum and Natural Gas, which constitutes 52.98 per cent of BPCL's equity share capital, along with the transfer of management control to the strategic buyer (except BPCL's equity shareholding of 61.65 per cent in Numaligarh Refinery Limited (NRL) and management control thereon).

The shareholding of BPCL in NRL will be transferred to a Central Public Sector Enterprise operating in the oil and gas sector under the Ministry and accordingly is not a part of the proposed transaction.

Kozhikode, Apr 4: In a bid to maintain the lockdown amid COVID-19 outbreak, Police in Kozhikode is monitoring the situation using drone cameras and making sure that people are not breaking the law.

The police have so far arrested 41 persons who were out on a morning walk on Saturday during the lockdown in the backdrop of coronavirus outbreak.

The SHO of Town South Police Station informed that the accused were later released on bail.
At least 295 cases have been reported in the state so far.

Talking about COVID-19 testing, State Health Minister KK Shailaja told media: "Nine labs are conducting polymerase chain reaction (PCR) tests in Kerala. We've received 2000 rapid test kits and will start rapid tests from tomorrow. If a person tests positive in rapid test, we need to confirm it with PCR test."

The total number of COVID-19 positive cases in India climbed to 3072 on Saturday, according to Ministry of Health and Family Welfare.

Claiming that e-commerce giants like Amazon import as much as 80 per cent of the items sold on their platforms, small manufacturers' body has said that their business models do not benefit local industry and are creating jobs of delivery boys only.

"Neither manufacturers nor traders are getting any benefit from the business models of Amazon and Flipkart because they largely import their products from China and Korea and sell here. Nearly 80 per cent of their products are imported," said Anil Bhardwaj, Secretary General, Federation of Indian Micro and Small & Medium Enterprises (FISME).

Bhardwaj said that the global e-commerce players generally source and sell products through their own preferred suppliers and as a result a large number of local manufacturers and traders get crowded out.

He listed out deep discounting and buying products from preferred companies as unfair practices.

"Even if they buy products from local suppliers the commission charged is very high," Bhardwaj said adding that the issues related to unfair practices have been raised with Commerce Ministry on multiple occasions.

FISME maintains that the technology-driven retail is way forward and one cannot be oblivious of the benefits it brings to consumers but at the same time the local industry can also not be ignored given its role in job creation.

"If both traders and local manufacturers are crowded out then how would the local industry survive and employment be generated?" asked Bhardwaj.

As Amazon Founder and CEO Jeff Bezos is currently on his three-day visit to India, the local traders are up in arms against the "unfair" trade practices of the tech giant. Delhi-based Confederation of All India Traders (CAIT) has launched a countrywide protest against the company and has organised protests across 300 cities.

In a setback to Amazon and Walmart-backed Flipkart, the fair market watchdog Competition Commission of India (CCI) has ordered probe into the business operations of both the companies on multiple counts including deep-discounts and exclusive tie-up with preferred sellers.

"For the first time some concrete step has been taken against Amazon and Flipkart who are continuously violating the FDI policy in indulging in a vicious racket of controlling and monopolising not only the e-commerce but even the retail trade as well," CAIT National Secretary General Praveen Khandelwal said after the CCI order.