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Time of India
19 hours ago
- Business
- Time of India
Dhankhar's move to examine oppn's notice raised suspicions
Jagdeep Dhankhar NEW DELHI: "Shri Jagdeep Dhankhar ji has had many opportunities to serve our country in various capacities, including as Vice-President of India. Wishing him good health," Prime Minister Narendra Modi posted on X, shortly after President Droupadi Murmu accepted Dhankhar's resignation. Going by sendoff messages for politicians, the post was starkly terse and conveyed the tension that resulted in Dhankhar's abrupt resignation as vice-president on Monday evening. Political circles were quick to note that the PM had refrained from commenting on the outgoing VP's functioning as chairman of the Rajya Sabha: something that was taken as confirmation that Dhankhar's decision on Monday to admit the opposition's notice for the motion of removal of Allahabad HC's Justice Yashwant Varma, despite having known the govt's decision to start the process in the Lok Sabha (which TOI had reported on Tuesday, had not gone down well). The contrast from the effusive praise for Dhankhar three years ago, when the Modi govt elevated him to the second highest constitutional position, was glaring and fully captured the radical change in equations since he was plucked from near-obscurity to be appointed governor of West Bengal in 2019, a big "opportunity" that had come his way courtesy the current central dispensation. If brevity was the PM's chosen weapon to convey the disappointment, his senior cabinet colleagues said it all through sheer silence on their X handles. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo NDA partners were also equally conspicuous by their reticence, the sole exception being the Andhra ally, Jana Sena leader Pawan Kalyan. The 'cancellation' was a measure of the annoyance Dhankhar managed to generate by his moves through Monday, starting with his unusual generosity towards LOP Mallikarjun Kharge. Dhankhar's move to examine oppn's notice raised suspicions The then Chairman, whom the opposition had relentlessly targeted for being partisan, chose to let Kharge speak ahead of the leader of the House and health minister J P Nadda, although by convention, the latter should have been given precedence. That Kharge launched a sharp attack on govt and the PM over the Pahalgam terror attack and US President Donald Trump's unsubstantiated claim of having forced India and Pakistan to halt Operation Sindoor only added to the irritation that had begun to build up on treasury benches and which found expression in Nadda's uncharacteristic "only what I say is going to be on record" assertion to protesting opposition members. But it took the second 'provocation' of the day - Dhankhar's announcement post-lunch about having received a notice from 63 members in support of a motion for the removal of Justice Varma, and his directive to examine where it would stand vis-a-vis a similar move made by 153 members in the Lok Sabha earlier in the day - that turned the smouldering annoyance into anger and, crucially, sparked suspicion about his intent. All signatories to the RS notice were, in contrast to the all-party complexion of what had earlier been submitted in Lok Sabha, from the opposition - something which militated against govt's known desire for a "consensus" backing for action against Justice Varma's alleged corruption and could not have escaped Dhankhar's attention. Dhankhar's indulgence of the opposition would have ensured him a say in the choice of the three-member panel that is required to go into the charges of corruption against the judge. Already upset with him over the barbs he would routinely train at the judiciary, as well as the perception that they were officially sponsored, govt did not take kindly at the meddling. Similar activism from Dhankhar had earlier led Supreme Court to drop its inquiry against Allahabad high court Justice Shekhar Yadav in a case of alleged hate speech and fling the ball back into the Rajya Sabha's court. What followed was a flurry of moves. Amid deepening suspicions about the intent and buzz of a "secret deal", BJP managers scrambled to get the NDA contingent to sign off on a similar notice. Such was the hurry that many RS members trooping into the chamber of defence minister Rajnath Singh did not even get to see the text of the notice as they put their signatures on the paper put up before them. Simultaneously, both Nadda and parliamentary affairs minister Kiren Rijiju decided to skip the business advisory committee meeting Dhankhar had convened in the evening, leaving it for minister of state L Murugan and BJP's chief whip K Laxman to represent the governing side. The message for Dhankhar was clear and he lost little time in heeding it. Just hours later, he rushed to the Rashtrapati Bhavan to submit his resignation on "health" grounds. The dominant estimate in political circles is that he is not going to quietly fade away. Many feel the Supreme Court lawyer, who started off with Janata Dal and did a stint with Congress before landing in BJP, may launch himself in a different version: as a farm leader. There was also a sudden outbreak of "sympathy" for him in opposition quarters, with even Congress and Trinamool Congress, his chief tormentors, seeking to portray him as a victim. But he appeared to be receding from the proceedings he would lord over when presiding officer Ghanshyam Tiwari announced that his resignation had been accepted.
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Business Standard
2 days ago
- Business
- Business Standard
Liquor stock zooms 119% from April low; nears new high post clarification
Tilaknagar Industries share price today Shares of Tilaknagar Industries, which sells Mansion House brandy, moved higher by 7 per cent to ₹449.45 on the BSE in Tuesday's intra-day trade amid heavy volumes after the company said it did not receive any communication or information from any regulatory authority or enforcement agency. The stock price of the Indian-Made Foreign Liquor (IMFL) manufacturer was quoting higher for the past seven trading days, surging 33 per cent during the period. The stock has more-than-doubled or zoomed 118 per cent from its 52-week low of ₹205 touched on April 7, 2025. The stock was trading close to its record high level of ₹457.30 touched on January 3, 2025. At 10:38 AM; Tilaknagar Industries was trading 7 per cent higher at ₹448.80 as against 0.09 per cent rise in the BSE Sensex. The average trading volumes at the counter jumped 1.5 times. A combined 7.12 million equity shares of Tilaknagar Industries changed hands on the NSE and BSE. Clarification on Tilaknagar Industries named in Andhra liquor scam On Monday, the stock price of Tilaknagar Industries ended 5.5 per cent higher at ₹396.85 on the BSE. However, it closed lower by nearly 6 per cent from its intra-day trade high of ₹443.55, amid media reports that Tilaknagar Industries among a dozen alcohol firms have been named in Andhra Pradesh liquor scam. On media reports, the company on Monday after market hours informed stock exchanges that the company has noticed certain media reports suggesting that Tilaknagar Industries has been named in a chargesheet filed by the Andhra Pradesh police in respect of the ongoing inquiry into the alleged malpractices pertaining to liquor trade in the state. 'We would like to place on record that the company has not received any communication or information to this effect from any regulatory authority or enforcement agency, till date,' Tilaknagar Industries said. Tilaknagar Industries further said that the company is a company devoted to creating and marketing globally-acclaimed brands that are market leaders in their respective segments and geographies. 'All our brands stand on the strength of their intrinsic merit and unwavering consumer loyalty. As always, the company remains focused on maximising shareholder value through ethical business dealings and practices,' the company said. Through this communication, Tilaknagar Industries said it urges all stakeholders to rely solely on communications flowing directly from the company channels or published through the official stock exchange platform. Tilaknagar - Fund raising plan Tilaknagar Industries on Saturday, July 19, 2025 informed that a meeting of the board of directors of the company will be held on Wednesday, July 23, 2025, inter alia to consider the fund raising plan. The raise could be executed through multiple channels like public offer, rights issue, preferential issue, qualified institutional placement (QIP), or private placement, depending on market conditions and regulatory permissions. Favourable Bombay High Court ruling - Tilaknagar Industries The Bombay High Court had ruled in favour of Tilaknagar Industries, restraining Allied Blenders & Distillers (ABDL) from launching the 'Mansion House' and 'Savoy Club' spirit brands across India. ABDL has notified the exchange that they are exploring options to challenge the order in higher court and cannot ascertain any material financial impact at the moment. About Tilaknagar Industries Tilaknagar Industries (TI) is one of India's leading alcoholic beverage companies. TI's brand portfolio straddles multiple categories, featuring two 'Millionaire' brandy brands - Mansion House and Courrier Napoleon- along with a strong presence in whisky, rum, and gin through Mansion House Whisky, Madiraa Rum and Blue Lagoon Gin. Recently, TI has expanded into the luxury segment with Monarch Legacy Edition Brandy.
New Indian Express
2 days ago
- Sport
- New Indian Express
Permutation and combination test for India
MANCHESTER: Unlike Sunday, it was a bright and sunny morning here at the Old Trafford Cricket Ground on Monday. The surface, which had been under cover due to rain, probably saw the sunlight for the first time in many days. Despite it being a cheerful day with a lot of happenings on the field, India pacer Akash Deep looked seemingly lost in his thoughts. He was leaning on a roller with padded-up Abhimanyu Easwaran and Dhruv Jurel to his company even as other India pacers were whizzing past him to bowl in the nets at the Trafford Cricket Centre. Be it Jasprit Bumrah or Mohammed Siraj or Shardul Thakur or Prasidh Krishna or new addition to the squad Anshul Kamboj, everybody was going full throttle. The pacers were also seen chatting with Akash Deep while waiting for their turn to bowl but the Bengal bowler's mind seemed to be somewhere else. Earlier, he bowled quite a few balls on the surface adjacent to the main square with coach Gautam Gambhir, chief selector Ajit Agarkar and a few others in attendance. Starting with zero run up, he gradually increased it to gain the momentum and pace. But that was it once the team members shifted to adjoining practice nets. Akash Deep, who reportedly has a groin injury casting a doubt on his appearance, was just a spectator even as his teammates toiled. As was reported on Sunday, the BCCI on Monday morning clarified that Andhra all-rounder Nitish Kumar Reddy has been ruled out of the series with a knee injury and Arshdeep Singh too was out of contention for the next match due to impact injury on his bowling thumb but the Indian cricket board didn't give any update on Akash Deep. However, it was evidently clear from the net session that the 28-year-old is unlikely to be a part of the game. His absence coupled with injuries to Reddy and Arshdeep forced the visitors to fly in Kamboj to join the squad. The Haryana seamer not only bowled for almost an hour but also batted alongside Thakur for more than 30 minutes giving indication that he might be in line to make his India debut. Kamboj has played 24 first class matches claiming 79 wickets so far. He was also part of India A team which played two matches against England Lions before the five-match series started. The 24-year-old right-arm bowler picked up five wickets and scored an unbeaten 51 in the second game in Northampton.
Business Upturn
2 days ago
- Business
- Business Upturn
Tilaknagar Industries shares fall 5% from day's high after Andhra liquor scam allegations surface
By Aditya Bhagchandani Published on July 21, 2025, 14:47 IST Shares of Tilaknagar Industries Ltd rose as much as 5.46% intraday to ₹443.90, before paring gains and trading nearly 6% below the day's high after reports emerged linking the company to an alleged liquor scam in Andhra Pradesh. The stock closed at ₹418.40, compared to the previous close of ₹396.75, with a market capitalization of approximately ₹81,400 crore. According to NDTV Profit and Informist, the Andhra Pradesh Police has named Tilaknagar Industries in an alleged liquor kickback scheme. Authorities claim the company allegedly paid about ₹218 crore (₹2.18 billion) in kickbacks to an Andhra liquor syndicate in exchange for lucrative orders. Between 2019 and 2024, the company reportedly received orders worth ₹1,472 crore (₹14.72 billion) in the state, the police report noted. These revelations have raised concerns among investors despite the stock's initial rally. On Monday, the stock saw high volatility: it opened strong, touching a high of ₹443.90 in the morning session, but fell sharply after the news broke, reflecting investor unease over potential legal and reputational risks. Company response to the allegations has not yet been made public at the time of writing. Market participants are closely watching for further clarification from Tilaknagar Industries and regulatory authorities. Disclaimer: This article is for informational purposes only and does not constitute financial advice. Stock market investments are subject to market risks. Please consult your financial advisor before making investment decisions. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
The Print
3 days ago
- Business
- The Print
Chandrababu Naidu is dreaming new dreams at 75. What other CMs are missing
That was in 2000. The Telugu Desam Party (TDP) provided crucial support to the Atal Bihari Vajpayee-led government then. Garg was the director of the Department of Economic Affairs (DEA) in the finance ministry. He writes that the hoarding of resources 'was clearly unfair and lopsided.' The World Bank assistance, specifically cheaper credits from the International Development Agency (IDA), was meant for low-income and poorer states. 'Using the efficiency of his administration and his political clout, Chandrababu Naidu was able to manoeuvre the system in Delhi, including the DEA, to divert a disproportionate part of the Government of India budget and external assistance to Andhra Pradesh,' writes Garg. Chandrababu Naidu bays for my blood'—This is a subhead in Subhash Chandra Garg's new book No, Minister . In the section, the former finance secretary of India writes how the Naidu-led Andhra Pradesh had 'cornered more than 40 per cent of the total portfolio of projects' approved by the World Bank in 1999–2000. He has cited another example. In 2001, the Andhra Pradesh Structural Adjustment Loan (SAL) for $250 million was being negotiated with the World Bank. The package also included a $100 million grant from the Department for International Development (DFID) to India. The DFID grant and the World Bank loan were to go to Andhra Pradesh on the standard 70:30 loan–grant ratio. The Naidu-led government, however, reached an understanding with the DFID—without the DEA's concurrence—to make it a 100 per cent grant. Garg wouldn't agree to it; he got them to agree to the DEA's terms. Two days after the negotiations were completed, the DEA Secretary asked Garg to again submit the Andhra file to him. The file came back with orders, approved by the finance minister, that an exception be made in the case and that the DFID grant be given to Andhra Pradesh as a 100 per cent grant. 'Evidently, on his return to India, Chandrababu Naidu had moved heaven and earth and forced the government at the highest level to agree to his completely unjustified demand,' writes Garg. 'The utter disregard for fair distribution of central government resources to all the states and the manic zeal and insistence to grab all resources for Andhra Pradesh were disturbing,' he writes. V Srinivas, private secretary to then finance minister Jaswant Singh, later told Garg that VS Sampath, the Andhra finance secretary who went on to become the chief election commissioner of India, sought his help to 'find ways to fix Subhash'. Nobody would be surprised to read ex-IAS officer Garg's account of how Chandrababu Naidu used his clout in the Vajpayee government to wrangle anything and everything from the Centre for his state. Garg's counterparts in other departments would have similar stories to tell. Let me cite just one more example here. Of the 4 million tonnes of rice the Centre sanctioned for the Food for Work programme between September 2001 and April 2002, Andhra alone got 2.15 million tonnes, 53 per cent of the total. And then it got one million tonnes more. Cut to 2025. Naidu hasn't changed. Only that it's now the Narendra Modi-led government that is going out of its way to please the Andhra CM. The Centre has already committed Rs 15,000 crore for Phase I of the Amaravati capital project. The state has secured Rs 12,157 crore from the Centre to support the first phase of the Polavaram irrigation project. In May, PM Narendra Modi laid the foundation for central projects worth Rs 5,000 crore, including a missile testing centre, Unity mall, Rail overbridge and six national highway projects in Andhra. And these are early days yet. Modi 3.0 still has four years left, and Naidu will continue to be vital for its survival. Also read: Chandrababu Naidu is important in both Centre and state. He is his own double-engine now Political opportunism or Andhra First? The former finance secretary of India has only revived an old debate. Chandrababu Naidu's political rivals and critics have a long list of his political 'betrayals'— marrying NT Rama Rao's daughter and then leaving the Congress to join the TDP; ousting NTR to become the CM; leaving the United Front to support the Atal Bihari Vajpayee government in 1998; Lok Sabha Speaker GMC Balayogi from the TDP allowing then Odisha CM Giridhar Gomang (who was yet to resign as MP) to vote against the confidence motion, which ended up bringing the Vajpayee government down in 1999; joining the NDA in 1999 Lok Sabha election to reap the electoral dividends of the Kargil War; demanding Narendra Modi resign as Gujarat CM post-2002 riots to joining hands with him ahead of the 2014 election; leaving the NDA for the Congress five years later only to re-embrace Modi before 2024 Lok Sabha and Assembly elections. It's certainly a long list. Naidu's critics would call them examples of political opportunism. His admirers would cite them as examples of his brilliant political acumen and his ability to play bigger national parties to his advantage. And, ex-IAS officer Subhash Garg as a neutral observer is only the latest to certify that Andhra Pradesh has made the biggest gains from Naidu's political somersaults. I call it his Andhra First politics. Take a look at this report by India Today in May 2002: 'Over the past five years, Naidu has managed to get the Central ministries to pour over Rs 40,000 crore into Andhra Pradesh. While the Central loans have doubled in five years from Rs 1,575.6 to Rs 3,189.9 crore, grants have jumped from Rs 1,528 crore to Rs 3,424.1 crore and external assistance has trebled from Rs 1,118 to Rs 3,640 crore. That the state has cornered a lion's share of resources is proved by just one statistic: while Central grants to all states increased by only 2.6 per cent between 2000-1 and 2001-2, Andhra Pradesh's share rose by 34 per cent.' The report quoted Congress MP Renuka Chowdhury as saying that Naidu's success in extracting resources was due to 'a weak Centre vulnerable to political blackmail'. When you talk to Congress MPs today, as the Modi-led government showers Naidu's Andhra with generosity, they echo similar sentiments. But ask the people in Andhra Pradesh. They would repeat the Onida TV slogan: 'Neighbour's envy, owner's pride.' Also read: Nobody should doubt Chandrababu Naidu's determination. If anything, they should fear it What other CMs need to learn from CBN Chandrababu Naidu, 75, is the third-oldest CM in India today—after Kerala's Pinarayi Vijayan, 80 and Karnataka's Siddaramaiah, 76. CBN, as he's known in the state, could afford to rest on his laurels. Creating something like Cyberabad and Genome Valley in Hyderabad would have been a lifetime achievement for any CM. Instead, he is setting new challenges for himself. 'Same things (liked Cyberabad) can't be created but improved versions (can be brought),' Naidu told me in an interview last month. It's not just the creation of the new capital city of Amaravati. CBN has now set out to build India's first quantum computing valley. He has launched a space policy to leverage Sriharikota's strategic location in Andhra Pradesh. It aims to attract investment worth Rs 25,000 crore in space-linked industries. He is very optimistic about his Zero Poverty-P4 (Public-Private-People Partnership) programme. I could tell this by the child-like excitement in his voice when he was telling me about P4. At a time when most Opposition leaders seem to be convinced that poverty can be eliminated only when the rich are made poor, Naidu's P4 is an interesting idea. You don't have to be an Adani or Ambani to participate in it. If you have surplus money to spare, help a family, mentor them. You can do it at the community level, too. What differentiates CBN from other CMs is ideas—original, imaginative and innovative. Look at his counterparts in other states. Most of them are doing the same things, often aping each other. At 75, Naidu stands apart. 'Imagination has no age,' wrote senior Rashtriya Swayamsevak Sangh functionary Ram Madhav, quoting Walt Disney, in a column in The Indian Express. He was building a case for PM Modi and RSS chief Mohan Bhagwat to ignore the unwritten 75-year age ceiling for holding office. Age doesn't matter unless you are a cheese, wrote Madhav. It's true. As I mentioned, Naidu's much younger counterparts in other states already look jaded and spent in terms of originality or ideas or imagination in policymaking. Is Modi 3.0 any different? That's food for thought for another column. DK Singh is Political Editor at ThePrint. He tweets @dksingh73. Views are personal. (Edited by Theres Sudeep)
