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Where politicians invest: Mutual funds, RIL and even Kingfisher Airlines

Agencies
April 29, 2019

New Delhi, Apr 29: Fixed deposits and tax-free bonds seem to be among the most favoured financial investments for the political leaders fighting the Lok Sabha polls, while mutual funds and stocks also adorn the portfolios of many and some even have got shares of long-defunct firms like Kingfisher Airlines.

Shares of Mukesh Ambani-led Reliance Industries Ltd (RIL), the country’s most valued company with a market capitalistion of over Rs 8.82 trillion, can be found in the portfolios of several leaders, while stocks and mutual fund units of the firms from younger brother Anil Ambani-led Reliance Group are also a common sight, as per disclosures made in election affidavits of the contestants.

However, some top leaders including Prime Minister Narendra Modi have no stock market or mutual fund exposure at all and their financial savings are limited to deposits in banks, tax-free bonds, insurance policies and instruments like National Savings Certificate.

The direct equity investments for a few are limited to unlisted companies, including those owned by their families.

BJP President Amit Shah has disclosed a long list of listed and unlisted shares in his name and in the name of his spouse. The listed shares in his name, totalling over Rs 17.5 crore, include companies from Aditya Birla Group, Bajaj, L&T, Tata and both Reliance groups, as also several PSUs.

Congress chief Rahul Gandhi has disclosed equity holding in Young Indian and investments in several mutual funds. The portfolio of his mother and senior party leader Sonia Gandhi includes equity shares of Young Indian and Maruti Technical Services Pvt Ltd and mutual fund units of HDFC, Kotak, Motilal Oswal and Reliance MF.

Nationalist Congress Party’s Supriya Sule, daughter of veteran leader Sharad Pawar, has got unlisted shares worth over Rs 1 crore and listed shares worth over Rs 6 crore, besides some mutual funds. The listed shares include those of Adani Group firms, the two Reliance groups, several Tata firms and even Kingfisher Airlines as also of some other companies from the erstwhile UB Group, including United Spirits which was sold by defaulter businessman Vijay Mallya to global liquor giant Diageo Plc. Kingfisher shares have long been delisted from the stock exchanges, though they quoted at above Rs 300 apiece once. The stocks eventually slipped below Rs 1 and trading was eventually suspended in 2014-end after mounting troubles for the erstwhile luxury airline had led to its closure.

Union minister and BJP candidate from Nagpur Nitin Gadkari has equity shares of Purti Power and Sugar Ltd, among other investments.

Poonam Mahajan, BJP candidate from Mumbai North Central, has disclosed listed equity investments by her spouse in Kingfisher Airlines, as also in Reliance Industries, TCS, Vodafone Idea Cellular and Reliance Power. Her Congress rival Priya Dutt has listed several mutual fund and portfolio schemes totalling about Rs 14.92 crore, while the listed shares disclosed in the name of her spouse include Reliance Industries, Reliance Infra and Reliance Power. Congress candidate from Mumbai South, Murli Deora, has disclosed multiple bonds, structured market products, PMS account, mutual funds and FMPs (fixed maturity plans).

Actress-turned-politician Urmila Matondkar, Congress candidate from Mumbai North, has disclosed Rs 28.28 crore worth investment in shares, bonds and mutual funds and PMS (portfolio management service) investments worth about Rs 6 crore, but the individual stocks/units were not disclosed.

Jaya Prada, another former actress and the BJP candidate from Rampur in Uttar Pradesh, has also disclosed investments in some listed companies such as Energy Development Company Ltd (which has got her political mentor Amar Singh as a promoter), Coal India, HDFC Bank, ITC, MCX and Reliance Industries. Actor-politician Raj Babbar, the Congress candidate from Fatehpur Sikri, has investments in IL&FS Transportation Networks Ltd.

Among other Uttar Pradesh candidates, Union minister and BJP leader Satyapal Singh has disclosed investments worth Rs 1.5 lakh in mutual funds and bonds in his name and some equity shares held by his spouse including of Reliance Capital and Reliance Industries.

Another union minister V K Singh and his spouse have also invested in various mutual funds.

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Agencies
June 9,2020

Srinagar, Jun 9: Suspended Jammu and Kashmir DSP Davinder Singh, who was nabbed while ferrying two Hizbul Mujahideen terrorists on the Srinagar-Jammu Highway, moved a Delhi court on Tuesday seeking interim bail.

Besides Singh, two other accused -- Syed Naveed Mushtaq and Imran Shafi Mir -- have also sought bail. The Special Cell of the Delhi Police is probing their role in the alleged planning of a terror attack.

The trio has sought bail asserting that there is no evidence to show that there was any conspiracy to commit an act that would threaten the sovereignty of the country. The court has listed the matter for hearing on Wednesday.

"The accused are wrongly and falsely implicated in the case. There is also no material to substantiate that the accused had the intention or conspired to carry out a terror strike," the plea stated.

Singh is currently under judicial custody at the Hira Nagar Jail in J&K till June 16. Besides Singh, three other accused -- Javed Iqbal, Syed Naveed Mushtaq and Imran Shafi Mir -- are also under custody.

Delhi Police's Special Cell had brought him from Hira Nagar Jail to the national capital in March for interrogation in another case.

The police had earlier told the court that Mushtaq, who was the commander of Hizbul Mujahiddeen in Shopian district, along with other militants were planning to execute a terror attack in Delhi and other parts of the country and targeted killings of protected persons.

In connection with this, the Delhi Police had filed an FIR which stated that the youth of Jammu and Kashmir and Punjab are being trained for carrying out terrorist activities. Singh was taken into custody under this FIR and was also interrogated regarding the Khalistan angle.

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Agencies
July 30,2020

New Delhi, Jul 30: Even as COVID-19 cases continue to surge in various parts of India, more than 1 million people have recovered and discharged till now, informed Rajesh Bhushan, Secretary, Ministry of Health, here on Thursday.

"More than 1 million people have recovered from COVID-19 in the country. This landmark recovery has been achieved because of the selfless work and dedication of our doctors, nurses and frontline workers," Bhushan said at a press conference.

Giving the number of cured persons, Bhushan said, "More than 1,020,000 patients have recovered. They have been discharged. It is a great achievement."

He said, "The recovery rate has shown positive trends. It was 7.85 per cent in April and today it is 64.4 per cent, which is another heartening news which tells us that whatever battle is put by the Union government in collaboration with state governments is showing results."

"Sixteen states of the country have a recovery rate that is more than the national average. Of these, Delhi has a recovery rate of 88 per cent, Ladakh 80 per cent, Haryana 78 per cent, Assam 76 per cent, Telangana 74 per cent, Tamil Nadu & Gujarat 73 per cent, Rajasthan 70 per cent, Madhya Pradesh 69 per cent and Goa 68 per cent," Bhushan said.

He said effective clinical management lead to a decrease in case fatality rate. In June it was 3.33 per cent and now 2.21 per cent.

Bhushan said the case fatality rate in India today is 2.21 per cent and it's among the lowest in the world. Twenty-four states and Union Territories have lesser fatality rate than that of the country.

Herd immunity in a country of the size and population of India can not be a strategic option. It can only be achieved through immunisation.

"Over 18,190,000 tests have been conducted in the country including RT-PCR and rapid antigen tests. There has been a week-on-week increase in average tests per day. India is conducting 324 test per 10 lakhs population per day," Bhushan said.

He added, three vaccine candidates, are in phase 3 clinical trial. These three are in the US, UK and China. In India, two indigenously developed vaccine candidates are in phase I and II of clinical trials. 

Trial of the first vaccine involves 1,150 subjects at eight sites, second on 1,000 subjects at five sites.

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News Network
January 13,2020

New Delhi, Jan 13: The Supreme Court on Monday commenced hearing on issues related to discrimination against women in various religions and at religious places including Kerala's Sabarimala Temple.

A nine-judge bench headed by Chief Justice S A Bobde said that it was not considering review pleas in the Sabarimala case.

“We are not hearing review pleas of Sabarimala case. We are considering issues referred to by a 5-judge bench earlier,” the bench said.

The apex court had on November 14 asked a larger bench to re-examine various religious issues, including the entry of women into the Sabarimala Temple and mosques and the practice of female genital mutilation in the Dawoodi Bohra community.

While the five-judge bench unanimously agreed to refer religious issues to a larger bench, it gave a 3:2 split decision on petitions seeking a review of the apex court's September 2018 decision allowing women of all ages to enter the Sabarimala shrine in Kerala.

A majority verdict by then Chief Justice Ranjan Gogoi and Justices A M Khanwilkar and Indu Malhotra decided to keep pending pleas seeking a review of its decision regarding entry of women into the shrine, and said restrictions on women in religious places was not restricted to Sabarimala alone and was prevalent in other religions as well.

The minority verdict by Justices R F Nariman and D Y Chandrachud gave a dissenting view by dismissing all review pleas and directing compliance of its September 28 decision.

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