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Time of India
a day ago
- Business
- Time of India
CBI to investigate irregularities in ASI epigraphy project
HYDERABAD: Archaeological Survey of India (ASI) has formally written to Central Bureau of Investigation (CBI), Bengaluru unit, requesting a probe into alleged irregularities involving several public servants in connection with the digitisation of estampages at the epigraphy branch in Mysuru. The letter, dated July 11 and signed by ASI additional director general and chief vigilance officer Madhukar, lists a series of issues that were flagged for investigation following internal findings and a prior vigilance inquiry. ASI noted that with the approval of the competent authority, the matter was now being referred to CBI for further action under Section 17-A of the Prevention of Corruption Act, 2018. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad Specific issues flagged include assigning buyer and consignee duties to unauthorised personnel, placing repeated purchase orders to Hirachi Enterprises, and reimbursing 2.4 lakh to four officials for direct purchases made outside the standard procedures. ASI noted that plywood worth 1.65 lakh was procured to house camera equipment used in digitisation work, and accommodations rented for official purposes were used to carry out the digitisation activity. Another concern raised pertains to the private agency, Dronacharya Seva Sansthan, allegedly failing to deposit EPF contributions of labourers engaged in project, even as payments were released to agency without verification. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like A genetic disorder that is damaging his organs. Help my son Donate For Health Donate Now Undo The sequence of events dates back to 2022 when a Telangana-based photojournalist, D Ravinder Reddy, approached the HC over the cancellation of a work order related to the digitisation of nearly one lakh estampages - manual paper copies of inscriptions - stored at ASI's epigraphy branch in Mysuru. Norms flouted to favour foreign firm: HC According to court proceedings, ASI had initially floated a tender on the GeM platform for a project valued at 1.5 crore. Ravinder Reddy, who has over three decades of experience in photo documentation, emerged as the lowest bidder and was invited to Mysuru for a demonstration. However, the tender was cancelled, and the contract was later awarded to a Netherlands-based firm, PIQL, at an cost of 5.61 crore. The HC set aside ASI's revised work order and directed that the contract be awarded to the next eligible bidder. The HC observed that norms were flouted to favour the foreign firm. Following the verdict, several officials from ASI were transferred amid suspicion of irregularities, and an internal vigilance probe was ordered.
Time of India
2 days ago
- Time of India
Demand for 4 Rajyarani coaches for passengers from Manmad
Nashik: The Bhusawal Divisional Railway Manager (Commercial) has urged Central Railway (CR) to earmark four coaches of the Nanded–Mumbai Rajyarani Express exclusively for passengers boarding between Manmad and Mumbai. Responding to growing demand from passengers and representations from elected officials, the Bhusawal division has written to CR headquarters requesting that at least four coaches be made available for booking from Manmad. These bookings would be managed by the Bhusawal division, which cited a significant volume of daily passengers commuting between Manmad, Nashik, and Mumbai. "Given the representation by passengers from Nashik and recommendations from elected representatives, we have requested the CR to take up the issue with the South Central Railway (SCR) for the reservation of the coach, as the train is handled by the Nanded division of the Telangana-based SCR," said a senior officer from the Bhusawal Divisional Railway Manager's office. The demand comes in the wake of recent changes by SCR, which decided to remove two general second-class seating coaches from the 17611 Nanded–CSMT Rajyarani Express. As a result, the train will now have only four general seating coaches, with the addition of one sleeper coach and an air-conditioned chair car. These changes are expected to take effect from August 5. The train departs Nanded at 10:00 pm, reaches Nashik at 6:00 am, and arrives in Mumbai at 10:00 am. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cardiologists Recommend: Eat 1 Teaspoon Tonight – Wake Up With a Flatter Stomach Hollywood News | USA Click Here Undo According to railway data, around 100 passengers board from Manmad and approximately 140 from Nashik Road daily with current tickets, in addition to nearly 150 pass-holders. A large share of these are daily commuters and office-goers who rely on the Rajyarani Express to reach offices by 10:30 am, unlike the Panchavati Express, which arrives at CSMT around 10:45 am and is therefore not a feasible option for many. "The occupancy of all general coaches (six existing) of this train combined is 92% from Manmad and 130% from Nashik towards Mumbai. Slashing down the number of coaches by two is going to impact passengers. We have therefore sought the opening of the four coaches from Manmad such that the SCR will issue reservations for those coaches till Manmad only and not beyond. That business will be handled by the Bhusawal Division of CR," the officer added.
The Print
11-07-2025
- Entertainment
- The Print
Over 25 celebs face ED probe over promoting betting apps. Restaurant worker's complaint set ball rolling
The agency's money laundering case stems from five criminal complaints registered by investors and a Telangana-based businessman, as well as one FIR filed by the Andhra Pradesh Police at the Vishakapatnam Police Commissionerate. Agency sources said the accused, including the celebrities, would be summoned to record their statements. New Delhi: The Enforcement Directorate (ED) has booked around two dozen celebrities, including leading actors Vijay Devarakonda and Rana Daggubati, in connection with allegedly promoting betting applications, ThePrint has learnt. Agency sources said more FIRs are expected to be clubbed into the same Enforcement Case Information Report (ECIR) as more victims are expected to come forward with their complaints. Sources added that the money laundering investigation under the Prevention of Money-Laundering Act, 2002, has been launched based on complaints against applications such as JeetWin, Parimatch, Lotus365, Junglee Rummy and A23, and others suspected of involvement in large-scale money laundering. Officials say that the promoters of these betting websites divert the money from the primary firm's bank accounts, where it was deposited, into personal bank accounts or those of unrelated firms as part of a layering process and for subsequent use for personal purposes. Apart from Devarakonda and Daggubati, the agency has also named prominent celebrities such as actor Prakash Raj, actor-producer Manchu Lakshmi, actors Praneetha and Nidhi Agarwal. The list also includes TV and media personalities such as Ananya Nagella, Siri Hanumanthu, Sreemukhi, Varshini Sounderajan, Vasanthi Krishnan, Shoba Shetty, Amrutha Chowdary, Nayani Pavani, Neha Pathan, Pandu, Padhmavathi, Imran Khan, Vishnu Priya and Shyamala. In addition to these celebrities, social media influencers such as Harsha Sai, Bayya Sunny Yadav, Tastyteja, Rithu Chowdhary, Bandaru Sheshayani Supritha, Ajay, Sunny, Sudheer, and the YouTube channel 'Local Boy Nani' have also been named in the document that formally starts the investigation against money laundering. Also Read: Murari Lal Tayal: How a mighty Hooda-era civil servant landed in ED crosshairs Tale of FIRs and 'skill' based games The first of the five FIRs that formed the basis of the money laundering case was registered on a complaint by a Hyderabad restaurant worker, Bandaru Venkatesh in December last year. Venkatesh claimed to have lost over Rs 13.6 lakh after being lured by influencer Kartha Harsha Sai's social media, promising high bonuses. Enticed by these claims, Venkatesh, who used to earn Rs 18,000 per month salary, invested Rs 13,67,300 over a year and lost the money. Sai allegedly promoted websites such as Parimatch, Lotus 365 and Battery as legal investment opportunities in India, falsely showcasing winnings, bonus codes and prize money to entice followers. It was allegedly claimed that depositing Rs 20,000 would result in a 150 percent bonus through these platforms. Based on Venkatesh's complaint, the Cyberabad Police had booked Sai under Section 318(4) (cheating) of the Bharatiya Nyay Sanhita (BNS), 66-D of the Information Technology (IT) Act that deals with the offence of cheating by personation using a computer resource or communication device. ThePrint has accessed the FIR. 'Venkatesh funded these transactions through savings, loans from friends, online borrowing apps, and even by selling gold assets, leaving him unable to repay his debts,' the FIR registered at Cyberabad stated. However, after coming across news reports about these websites being illegal in the country and Sai's reported involvement in these frauds, he approached the police and got an FIR registered. The most damning FIR forming the basis of the ED's case was registered at Miyapur Police station in Cyberabad by a city-based businessman P.M. Phanindra Sarma on 19 March this year. In his complaint, Sarma had listed 25 suspects, including Devarakonda, Daggubati and Prakash Raj, along with other celebrities and social media influencers. ThePrint has accessed the FIR. In his complaint filed on the same day, Sarma said he had been interacting with local youth who started discussing investments in applications promoted by prominent celebrities. He also found such social media posts while using sites like Facebook and Instagram, in which celebrities were promoting these applications. Based on his complaint, the Cyberabad Police booked these celebrities under Sections 318(4) (cheating), 112 (petty organised crime) and 49 (abetment) of the BNS, as well as 66-D of the IT Act and relevant provisions of the Telangana State Gaming Act. 'The influencers and celebrities who are promoting these apps and websites are doing so by accepting huge sums of money as commission and remuneration. These platforms are encouraging public, especially people that are in dire need of money, to invest their hard-earned and family money into those apps/websites and slowly get addicted to them, leading to total financial collapse,' he alleged in the complaint. 'All the above-referred betting applications are in direct violation of the gambling laws and regulations, especially the Public Gambling Act of 1867, causing harm to individuals and society by encouraging this addictive easy money-making mechanisms, leading to financial distress,' he added. He then submitted a list of celebrities and applications they were promoting at the time, seeking action against the management of these companies, as well as celebrities for promoting such applications that led to financial distress among users. Agency sources said that although these applications and their promoters advertise the platforms as 'skill-based' games, the system is stacked in favour of operators, making it nearly impossible for a normal investor to win in the long term. (Edited by Sugita Katyal) Also Read: 'Special 26' with a twist—Delhi Police busts 'fake' ED raid at upscale car showroom in Chanakyapuri
Mint
08-07-2025
- Business
- Mint
Upcoming IPOs: Veeda Clinical, Shringar House of Mangalsutra, Rite Water among 5 companies get SEBI nod to raise funds
Upcoming IPOs: Five companies, including Veeda Clinical Research, Shringar House of Mangalsutra, Rite Water Solutions India, Seedworks International, and LCC Projects, have received SEBI's approval to raise funds through initial public offerings (IPOs). The market regulator has issued observation letters on draft papers of Veeda Clinical Research and LCC Projects on July 3 and for Shringar House of Mangalsutra, Rite Water Solutions India and Seedworks International on July 4, according to the latest processing status of the draft offer documents. Here are the IPO details for the five companies that received the SEBI nod — Ahmedabad-based Veeda Clinical Research Limited filed its IPO papers with the market regulator on January 31, 2025, to raise a mix of a fresh issue of shares up to ₹ 185 crore with a face value of ₹ 2 per share and an offer-for-sale up to 130 lakh equity shares, as detailed in the draft red herring prospectus (DRHP). Mumbai-based Shringar House of Mangalsutra filed its DRHP with the capital markets regulator on February 5, 2025, proposing a fresh issue of 2.43 crore equity shares with no offer for sale (OFS) component. Proceeds from the fresh issue, amounting to ₹ 250 crore, will be utilised for company's working capital needs and general corporate requirements purposes, as Mint reported on February 6, 2025. Nagpur-based Rite Water Solutions (India) has filed its DRHP with the capital markets regulator to raise ₹ 745 crore through the proposed IPO. The IPO has a face value of ₹ 2 and includes a new issue of equity shares up to ₹ 300 crore, along with an offer-for-sale of up to ₹ 445 crore by the Promoter and Investor Selling Shareholders. The proposed IPO of the Telangana-based SeedWorks International DRHP will comprise of entirely offer-for-sale of 5.2 crore shares with a face value of ₹ 2. The company filed for DRHP with the market regulator on February 11, 2025 to raise funds via IPO. LCC Projects filed the IPO papers with SEBI on February 27, 2025. The IPO will consist of a fresh issue worth ₹ 320 crore at a face value of ₹ 5 and an offer for sale of 2.29 crore shares by promoters. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
07-07-2025
- Business
- Time of India
GIP, Macquarie, VINCI join race for stake in CDPQ's India InvIT
Mumbai: Global Infrastructure Partners ( GIP ), Macquarie , and French road developer VINCI Highways are among large global institutional investors vying to acquire a significant minority stake in Maple Infrastructure Trust , an Indian infrastructure investment trust (InvIT) sponsored by Canadian pension fund CDPQ , said people familiar with the matter. CDPQ aims to raise $350-$400 million (₹3,000-₹3,433 crore) through the new round of fundraising, the people said, adding it has appointed Rothschild to manage the process. Maple currently has an enterprise value of about ₹16,000 crore (about $2 billion). The fresh capital will also help finance Maple's recent acquisition of toll road assets from Ashoka Concessions , the people cited above said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo In addition to CDPQ, several other existing investors are also expected to pare their holdings in the InvIT in the fundraising round. As per the current shareholding of Maple InvIT, CDPQ Infrastructure Asia III has a 60% stake. The other shareholders are Maple Highways with 15%; 360 One Group at 18.3%; Fami Strei-the family office of the Taparia family, founders of contraceptive maker Famy Care-with 3.1%, and other investors including the family office of Uday Kotak owning a combined 3.6%. Live Events VINCI, Macquarie, and CDPQ did not respond to email queries. A GIP spokesperson declined to comment. Maple Highways, CDPQ's dedicated roads platform in India, sponsors the InvIT, which manages seven assets. These include the Eastern Peripheral Expressway in the National Capital Region (under the ToT7 model) and Shree Jagannath Expressways (SJEPL) in Odisha. Canada's Public Sector Pension Investment Board (PSP Investments) and Alberta Investment Management Corporation (AIMCo) have also expressed interest in acquiring a stake, as previously reported by ET. In October 2023, Maple Infrastructure Trust acquired five build-operate-transfer (BOT) toll road assets from Ashoka Concessions for a combined enterprise value of ₹5,718 crore. The InvIT reported an income of ₹773 crore in FY24. VINCI Highways, which exited India about a decade ago, is planning a re-entry through strategic acquisitions. A subsidiary of VINCI Concessions, the company had announced plans last September to acquire a 51% stake in Telangana-based HKR Roadways, alongside GIP Emerging Markets Fund, which was to acquire the remaining 49%. However, regulatory challenges reportedly stalled the deal. VINCI exited India in 2015, citing policy shifts in road contract awards. Similarly, GIP had exited India's road sector in 2021, selling its entire stake in Highway Concessions One (HC1)-comprising seven highway assets totalling 487 kilometres across seven states-to private equity firm KKR. Globally, VINCI Highways designs, finances, builds, and operates highways, bridges, tunnels, and urban roads, managing a 3,750-kilometer network across 14 countries. According to a recent report by credit rating agency ICRA , toll collections are projected to grow by 7-9% this fiscal year, driven by higher toll rates.
