Latest news with #ShashiKiranShetty
Hans India
a day ago
- Sport
- Hans India
Karnataka Defends Police Officer Suspension, Claims Officials Acted As RCB's Servants
The Karnataka government defended its decision to suspend IPS officer Vikash Kumar over last month's stampede at Bengaluru's Chinnaswamy Stadium, telling the High Court that senior police officials behaved like "servants of RCB" during the incident. State Advocate General Shashi Kiran Shetty argued that the Central Administrative Tribunal (CAT) order overstepped its authority and should be suspended. He informed the court that the Union government had approved the suspension of Vikash and other IPS officers on June 5, citing neglect of duty. During court proceedings, the state's legal representative asserted that the involved police officers "acted as servants of RCB." He explained that Royal Challengers Bengaluru had submitted an application to police regarding their victory celebration plans even before the coin toss for the final IPL 2025 match between RCB and Punjab Kings. "The officers began arranging security measures without questioning who had authorized the event," the counsel stated, highlighting the lack of proper protocol followed by the police force. The suspended Bengaluru police officer Vikash Kumar has challenged the Karnataka government's order in the Central Administrative Tribunal following the stampede incident that occurred outside the cricket stadium during the IPL final match.
Economic Times
3 days ago
- Business
- Economic Times
Allcargo Terminals to raise Rs 38.28 cr through issuance of 1.32 cr fully convertible warrants
Multimodal logistics operator Allcargo Terminals Ltd (ATL) on Tuesday said it plans to raise Rs 38.28 crore through the issuance of up to 1.32 crore fully convertible warrants to the promoters/promoter group. ADVERTISEMENT The proposed fundraise, which will kickstart ATL's three-year expansion plans, will be utilised for building capacity and setting up new container freight stations (CFS) and inland container depots (ICDs), the company said. An Allcargo group firm, ATL, specializes in CFS and ICD with pan-India presence, serving diverse logistical requirements at strategic locations such as JNPT, Mundra, Chennai, and Kolkata. "The Board of Directors of ATL has approved the preferential allotment in its meeting held on July 15, 2025," Allcargo Terminals said. "As India's logistics sector undergoes structural transformation, ATL is well positioned to scale up operational capacity while remaining capital-efficient and growth-focussed, creating sustainable value for all stakeholders," said Shashi Kiran Shetty, Founder and Chairman, Allcargo Group. Each warrant has a face value of Rs 2 per share, will be issued at an issue price of Rs 29 per warrant with a premium of Rs 27 per warrant, subject to shareholder and regulatory approvals, it stated. ADVERTISEMENT This issuance accounts for approximately 5 per cent of ATL's post-conversion equity share capital and is priced at around 1 per cent premium to the SEBI-defined floor price, as per the company. ATL said its current capacity stands at 8.3-lakh TEUs annually across seven facilities in five hubs that handle approximately 80 per cent of India's EXIM trade. ADVERTISEMENT ATL plans to augment its capacity to over 13-lakh in the coming three years -- by expanding some of its key facilities and by developing new CFS/ICD facilities, the company said. This strategic move is in line with ATL's long-term growth roadmap and will support the company's multi-location infrastructure expansion at Mundra and Nhava Sheva, Greenfield ICD at Farukhnagar and infra upgrades at existing facilities, ATL said. ADVERTISEMENT Currently operating at 80-85 per cent capacity utilisation, the expansion plans will enable the company to cater to future demand and consolidate its leading position in key logistics corridors, the company said. "This expansion comes at a time when our core facilities are operating near full capacity. The proposed expansion in Mundra and Nhava Sheva, greenfield ICD at Farukhnagar and infra upgrades at existing facilities are aligned to strengthen our multimodal footprint," said Suresh Kumar R, Managing Director, Allcargo Terminals Ltd.
Time of India
3 days ago
- Business
- Time of India
Allcargo Terminals to raise Rs 38.28 cr through issuance of 1.32 cr fully convertible warrants
Multimodal logistics operator Allcargo Terminals Ltd (ATL) on Tuesday said it plans to raise Rs 38.28 crore through the issuance of up to 1.32 crore fully convertible warrants to the promoters/promoter group. The proposed fundraise, which will kickstart ATL's three-year expansion plans, will be utilised for building capacity and setting up new container freight stations (CFS) and inland container depots (ICDs), the company said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cardiologist Reveals: The Simple Morning Habit for a Flatter Belly After 50! Lulutox Undo An Allcargo group firm, ATL, specializes in CFS and ICD with pan-India presence, serving diverse logistical requirements at strategic locations such as JNPT, Mundra, Chennai, and Kolkata. "The Board of Directors of ATL has approved the preferential allotment in its meeting held on July 15, 2025," Allcargo Terminals said. "As India's logistics sector undergoes structural transformation, ATL is well positioned to scale up operational capacity while remaining capital-efficient and growth-focussed, creating sustainable value for all stakeholders," said Shashi Kiran Shetty, Founder and Chairman, Allcargo Group. Live Events Each warrant has a face value of Rs 2 per share, will be issued at an issue price of Rs 29 per warrant with a premium of Rs 27 per warrant, subject to shareholder and regulatory approvals, it stated. This issuance accounts for approximately 5 per cent of ATL's post-conversion equity share capital and is priced at around 1 per cent premium to the SEBI-defined floor price, as per the company. ATL said its current capacity stands at 8.3-lakh TEUs annually across seven facilities in five hubs that handle approximately 80 per cent of India's EXIM trade. ATL plans to augment its capacity to over 13-lakh in the coming three years -- by expanding some of its key facilities and by developing new CFS/ICD facilities, the company said. This strategic move is in line with ATL's long-term growth roadmap and will support the company's multi-location infrastructure expansion at Mundra and Nhava Sheva, Greenfield ICD at Farukhnagar and infra upgrades at existing facilities, ATL said. Currently operating at 80-85 per cent capacity utilisation, the expansion plans will enable the company to cater to future demand and consolidate its leading position in key logistics corridors, the company said. "This expansion comes at a time when our core facilities are operating near full capacity. The proposed expansion in Mundra and Nhava Sheva, greenfield ICD at Farukhnagar and infra upgrades at existing facilities are aligned to strengthen our multimodal footprint," said Suresh Kumar R, Managing Director, Allcargo Terminals Ltd.
&w=3840&q=100)
Business Standard
3 days ago
- Business
- Business Standard
Allcargo Terminals to raise ₹38.28 cr through convertible warrants issuance
"The Board of Directors of ATL has approved the preferential allotment in its meeting held on July 15, 2025," Allcargo Terminals said Press Trust of India Mumbai Multimodal logistics operator Allcargo Terminals Ltd (ATL) on Tuesday said it plans to raise Rs 38.28 crore through the issuance of up to 1.32 crore fully convertible warrants to the promoters/promoter group. The proposed fundraise, which will kickstart ATL's three-year expansion plans, will be utilised for building capacity and setting up new container freight stations (CFS) and inland container depots (ICDs), the company said. An Allcargo group firm, ATL, specializes in CFS and ICD with pan-India presence, serving diverse logistical requirements at strategic locations such as JNPT, Mundra, Chennai, and Kolkata. "The Board of Directors of ATL has approved the preferential allotment in its meeting held on July 15, 2025," Allcargo Terminals said. "As India's logistics sector undergoes structural transformation, ATL is well positioned to scale up operational capacity while remaining capital-efficient and growth-focussed, creating sustainable value for all stakeholders," said Shashi Kiran Shetty, Founder and Chairman, Allcargo Group. Each warrant has a face value of Rs 2 per share, will be issued at an issue price of Rs 29 per warrant with a premium of Rs 27 per warrant, subject to shareholder and regulatory approvals, it stated. This issuance accounts for approximately 5 per cent of ATL's post-conversion equity share capital and is priced at around 1 per cent premium to the SEBI-defined floor price, as per the company. ATL said its current capacity stands at 8.3-lakh TEUs annually across seven facilities in five hubs that handle approximately 80 per cent of India's EXIM trade. ATL plans to augment its capacity to over 13-lakh in the coming three years -- by expanding some of its key facilities and by developing new CFS/ICD facilities, the company said. This strategic move is in line with ATL's long-term growth roadmap and will support the company's multi-location infrastructure expansion at Mundra and Nhava Sheva, Greenfield ICD at Farukhnagar and infra upgrades at existing facilities, ATL said. Currently operating at 80-85 per cent capacity utilisation, the expansion plans will enable the company to cater to future demand and consolidate its leading position in key logistics corridors, the company said. "This expansion comes at a time when our core facilities are operating near full capacity. The proposed expansion in Mundra and Nhava Sheva, greenfield ICD at Farukhnagar and infra upgrades at existing facilities are aligned to strengthen our multimodal footprint," said Suresh Kumar R, Managing Director, Allcargo Terminals Ltd.
Indian Express
10-06-2025
- Sport
- Indian Express
Bengaluru Stampede: CID withdraws request for custody of RCB marketing head and 3 others
The Criminal Investigation Department (CID) of the Karnataka police on Tuesday withdrew its custody request for four people arrested in connection with the stampede that claimed 11 lives outside Bengaluru's Chinnaswamy stadium during a celebration of Royal Challengers Bengaluru's IPL title win. The decision came after defence lawyers raised objections, citing pending proceedings in the Karnataka High Court. The four accused—Nikhil Sosale (RCB's head of marketing), Sunil Mathew (director and vice-president), Kiran Kumar (manager), and Shamanth S P (ticketing executive from DNA Entertainment Networks Pvt Ltd)—were presented before a magistrate court. Initially, the CID requested nine days of custody for comprehensive interrogation and investigation. However, senior advocate Sandesh Chouta, representing Sosale, challenged the urgency, highlighting that a petition questioning the arrest's legality was already under the high court's review. 'Why is there such urgency to seek custody immediately?' Chouta argued, requesting the court delay custody until the high court verdict. The magistrate shared similar concerns about the rushed timeline. 'What can really be achieved in just one day of custody? Why the rush?' the judge questioned Assistant Superintendent of Police Jagadeesh, who maintained that custody was essential for the ongoing investigation. After a brief recess and consultations with Advocate-General Shashi Kiran Shetty, ASP Jagadeesh announced that the CID would postpone its custody request pending the high court's decision on the petition against the arrest. The magistrate deferred the matter accordingly. All four accused were thus returned to Parappana Agrahara Central Prison, where they will remain until the high court proceedings conclude and provide clarity on the case's legal standing. The Central Administrative Tribunal (CAT) in Bengaluru issued a notice to Karnataka's Congress government on Tuesday regarding the suspension of senior IPS officer Vikash Kumar Vikash in connection with the recent Chinnaswamy stadium stampede. Vikash, who served as Additional Commissioner of Police for Bengaluru City (West), filed a petition challenging his suspension order. He was the designated in-charge of the stadium. During Tuesday's hearing, the CAT bench heard submissions from the state through Advocate-General Shashi Kiran Shetty, who requested time to file objections. The court subsequently adjourned the matter to June 12 after issuing the notice to the state government. The suspended officer has argued that the Karnataka government made him a scapegoat in the incident. His challenge comes after Chief Minister Siddaramaiah announced on June 3 the suspension of five senior police officers in the wake of the stampede.
