Latest news with #Chugh
India Gazette
4 hours ago
- Politics
- India Gazette
Kejriwal-driven AAP govt has imposed undeclared Emergency in Punjab: BJP's Tarun Chugh
Chandigarh [India], July 2 (ANI): BJP National General Secretary Tarun Chugh came down heavily on the Bhagwant Mann-led government in Punjab for 'unleashing a new era of Emergency' in Punjab, in which the Opposition's voice is being 'muzzled'. Reacting strongly to the detention of former Deputy Chief Minister Sukhbir Badal and other senior Akali leaders in Mohali today, Chugh said in a statement that 'draconian' laws were being enforced in Punjab at the behest of AAP National Convener Arvind Kejriwal and all democratic rights of the Opposition to stage dharnas or protests were being blatantly violated by the AAP government. Chugh alleged that even peaceful protests are not being allowed in the state, which indicates the oppressive nature of the Kejriwal-driven Punjab government. He said that AAP leaders have not only made open threats in the Vidhan Sabha in the past, but are now detaining those who protest peacefully in a democratic manner -- a dangerous sign of the party's authoritarian drift. He further alleged that AAP leaders have started threatening Opposition leaders, including Bikram Majithia, with remarks like 'Dekh Lenge', which reflects the party's growing intolerance and political vindictiveness. He alleged Kejriwal has become another version of 'autocratic Indira Gandhi', having turned Punjab into a jail where all democratic rights are being denied. Chugh said instead of acting against various mafias operating in the state, the Bhagwant Mann government is targeting the Opposition to hide its failures on all fronts. Earlier in the day, Punjab Police detained several Shiromani Akali Dal (SAD) supporters staging a protest against the arrest of senior party leader Bikram Singh Majithia. The protest took place near the Mohali court, where Majithia is scheduled to be produced following the completion of his Vigilance Bureau remand. As security was tightened around the court complex, SAD President Sukhbir Singh Badal claimed that he himself was stopped and detained by police while en route to a gurdwara in Mohali. The incident prompted strong criticism from the former Deputy Chief Minister of Punjab. (ANI)
Time of India
2 days ago
- Business
- Time of India
ITC, BAT rekindle the flame for growth
HighlightsBritish American Tobacco significantly increased its purchases of raw tobacco from ITC, amounting to ₹1,445 crore in the fiscal year 2024-25, a 35% rise from the previous year. ITC is seeking shareholder approval for a raw tobacco export plan worth up to ₹2,320 crore by 2026-27, as well as a purchase of ₹30 crore of international raw tobacco from British American Tobacco. British American Tobacco currently holds a 23% stake in ITC, making it the largest shareholder, while maintaining that its investment is strategic rather than purely financial. In a sign of improved relations between ITC and its largest shareholder, British American Tobacco (BAT), the Indian company significantly grew the sale of raw tobacco to the London-headquartered cigarette maker in 2024-25 and received nearly double the amount in advances compared with the year before. BAT, popular for brands like Dunhill, Rothmans and Vuse, bought products (raw tobacco) for `1,445 crore from ITC in FY25, up 35% from the previous year, as per ITC's latest annual report. The advances that ITC took from BAT increased to `1,690 crore from `881 crore in FY24. Advances between related parties are typically loans and other financial benefits. ITC did not specify on the type of the advance in the report. ITC, the country's largest exporter of raw tobacco, has also proposed to take shareholders' approval during the annual general meeting next month to expand its business with BAT. Under Indian regulations, related-party transactions that exceed `1,000 crore or 10% of the annual consolidated turnover of a company require shareholder approval. ITC wants to take approval for raw tobacco export of up to `2,320 crore by 2026-27. It is also seeking to buy `30 crore of raw international tobacco from BAT. ITC said in the annual report that it has been exporting un-manufactured tobacco to BAT for the past several years and the proposed transaction will aid the growth in business. BAT and ITC have a long bitter-sweet relation. In 2018, BAT vetoed a share-rewards programme for ITC employees. Around 2-3 decades back, BAT wanted to wrest ownership control of the Indian company but it was resisted by the then ITC chairman, KL Chugh. Chugh's successor, YC Deveshwar, worked hard to ensure that the stake held by SUUTI (Specified Undertaking of Unit Trust of India) in ITC was not sold to BAT. He believed that BAT was only interested in tobacco and may reverse the diversification of ITC, a conglomerate with businesses ranging from paper products to FMCG and information technology. BAT's current chief executive, Tadeu Marroco, has recently said the company wanted to retain its veto rights in ITC. Last month, BAT sold a 2.5% stake in ITC for $1.5 billion (around `12,926 crore), the proceeds of which the British company wanted to use to expand a share buyback programme. In 2024, BAT had sold 3.5% in ITC for about $2 billion. After those block deals, BAT now owns around 23% in ITC, making it the biggest shareholder, followed by Life Insurance Corporation of India which owns 15.5%. ITC has no promoter holding. BAT's Marroco had told analysts earlier this month that the company's stake in ITC was 'still a strategic investment' and 'not a financial investment'. He said BAT was attracted by the size of the Indian market, demographics and potential GDP per capita growth. BAT has some inter-party relations with ITC in leaf and IT, he had said. 'We want to preserve, as a consequence, a relevant stake in ITC. So we keep our two board directors, so we have influence on the board … Obviously there was an opportunity now to increase the buyback,' Marroco had said. BAT also owns a 15.3% stake in ITC Hotels, which it has indicated would exit at an opportune time since the hotel business is not the company's focus area.
Time of India
3 days ago
- Business
- Time of India
BAT bets big on India again, as ITC seeks to expand tobacco trade deal
Kolkata: In a sign of improved relations between ITC and its largest shareholder, British American Tobacco ( BAT ), the Indian company significantly grew the sale of raw tobacco to the London-headquartered cigarette maker in 2024-25 and received nearly double the amount in advances compared with the year before. BAT, popular for brands like Dunhill, Rothmans and Vuse, bought products (raw tobacco) for Rs 1,445 crore from ITC in FY25, up 35% from the previous year, as per ITC's latest annual report. The advances that ITC took from BAT increased to Rs 1,690 crore from Rs 881 crore in FY24. Advances between related parties are typically loans and other financial benefits. ITC did not specify on the type of the advance in the report. ITC, the country's largest exporter of raw tobacco, has also proposed to take shareholders' approval during the annual general meeting next month to expand its business with BAT. Under Indian regulations, related-party transactions that exceed Rs 1,000 crore or 10% of the annual consolidated turnover of a company require shareholder approval. ITC wants to take approval for raw tobacco export of up to Rs 2,320 crore by 2026-27. It is also seeking to buy '30 crore of raw international tobacco from BAT. ITC said in the annual report that it has been exporting un-manufactured tobacco to BAT for the past several years and the proposed transaction will aid the growth in business. BAT and ITC have a long bitter-sweet relation. In 2018, BAT vetoed a share-rewards programme for ITC employees. Around 2-3 decades back, BAT wanted to wrest ownership control of the Indian company but it was resisted by the then ITC chairman, KL Chugh. Chugh's successor, YC Deveshwar , worked hard to ensure that the stake held by SUUTI (Specified Undertaking of Unit Trust of India ) in ITC was not sold to BAT. He believed that BAT was only interested in tobacco and may reverse the diversification of ITC, a conglomerate with businesses ranging from paper products to FMCG and information technology. BAT's current chief executive, Tadeu Marroco, has recently said the company wanted to retain its veto rights in ITC. Last month, BAT sold a 2.5% stake in ITC for $1.5 billion (around Rs 12,926 crore), the proceeds of which the British company wanted to use to expand a share buyback programme. In 2024, BAT had sold 3.5% in ITC for about $2 billion. After those block deals, BAT now owns around 23% in ITC, making it the biggest shareholder, followed by Life Insurance Corporation of India which owns 15.5%. ITC has no promoter holding. BAT's Marroco had told analysts earlier this month that the company's stake in ITC was "still a strategic investment" and "not a financial investment". He said BAT was attracted by the size of the Indian market, demographics and potential GDP per capita growth. BAT has some inter-party relations with ITC in leaf and IT, he had said. "We want to preserve, as a consequence, a relevant stake in ITC. So we keep our two board directors, so we have influence on the board ... Obviously there was an opportunity now to increase the buyback," Marroco had said. BAT also owns a 15.3% stake in ITC Hotels, which it has indicated would exit at an opportune time since the hotel business is not the company's focus area.
Hindustan Times
3 days ago
- Politics
- Hindustan Times
Modi govt empowering Muslims ever since it came to power: BJP national gen secy
LUCKNOW Bharatiya Janata Party (BJP) national general secretary Tarun Chugh on Sunday said the Modi government has been fighting to eradicate poverty, empower women and Muslims from the day it came to power at the Centre. He said it was very much evident when Colonel Sofiya Qureshi and Wing Commander Vyomika Singh briefed the media during the Operation Sindoor. BJP national general secretary Tarun Chugh speaking at the party's Minority Morcha event in Lucknow on June 29. (Sourced) Chugh was in the state capital to attend the BJP Minority Morcha's event- 'Alpsankhyakon ka Paigam - Modi ke saath Musalman' at the Atal Bihari Vajpayee Convention Centre. It's part of the BJP's efforts to engage with and outreach to minority groups, showcasing their support and inclusivity. Deputy CM Brajesh Pathak and other party leaders also attended the event. Addressing the gathering, Chugh said: 'The day the Modi government came to power on May 26, 2014, it has been fighting to eradicate poverty.' The BJP leader listed out various welfare schemes of the Centre in which all sections of the community, including Muslims, are beneficiaries. 'In all welfare schemes of the government, Muslims are beneficiaries in large numbers. Be it housing for the poor, Ujjwala gas, toilets, medical insurance and other such schemes,' Chugh added. 'The Modi government's efforts to empower women was clearly evident when Colonel Sofiya Qureshi and Wing Commander Vyomika Singh briefed the nation during Operation Sindoor,' he said. 'The government gave ration to 80 crore needy people without asking their caste and religion,' the BJP leader added. Speaking on the occasion, deputy CM Brajesh Pathak attacked the Congress and the Samajwadi Party. 'For the Samajwadi Party and the Congress, Muslims are only vote bank. Both the parties have done nothing for Muslims,' Pathak said. 'Your children were left behind in all spheres of life only because of the Congress and the Samajwadi Party,' he added. Further attacking the SP, Pathak said if Muslims do not vote for the Samajwadi Party, it would not be in a position even to get its corporator elected. 'The Modi government is working for the welfare of Muslims. So, Muslims must help Modi ji,' he said. The deputy CM exhorted Muslims to take a firm decision and stop following the Samajwadi Party. Uttar Pradesh minister Danish Azad Ansari apprised the gathering that Pasmanda Muslims are the biggest beneficiaries of various welfare schemes of the Modi government. Basit Ali, state president of BJP Minority Morcha and its national vice president Zakir Hussain also addressed the gathering.
Deccan Herald
3 days ago
- Politics
- Deccan Herald
Modi govt fulfilling message of Prophet Muhammad by empowering Muslim women: BJP's Tarun Chugh
Chugh, while addressing an event organised by the Uttar Pradesh unit of the BJP's minority cell on the completion of 11 years of the Narendra Modi government, mentioned the steps taken by the central government for Muslims, especially Muslim women.
