lawyer | SBAC Law insolvency and banking Delhi | Cuttack
India
Joined May 2010
- Tweets856
- Following572
- Followers146
- Likes863
Has eMudhra yet been suspended by Ministry of Information Technology as a Certifying Authority for DSCs? On the eve of Income tax deadline. #eMudhra
Inspired by @neha_aisa, I thought let me check out @cpimlliberation. Honestly a lot of their thoughts are agreeable to me. But surely they can and need to do better on communicating their msg (example: look at these 2 paras from their about us page). Other than pol sci students, who do they expect to understand this.
This is such a joke. Smog towers dont work, but Delhi govt just wants to pay private companies. 104 cr given to farmers would be so much better. (Delhi's Rs 104-Crore Bet On Private Firms To Cut Pollution At 40 Locations share.google/II8sB8opv32NoAr…) #aqi #delhi
Spandan Biswal retweeted
This young lawyer just tore into the custody order. 😡
Abhisht says the magistrate exceeded the 7-day limit, taking Saurav and Ashu's custody to 8 days.
No legal merit. Excuses to prolong detention.
It's an attack on Article 21 and the right to dissent.
It is honestly quite disgusting that the Delhi Police has kept student leaders in jail for organising peaceful non violent protests. Blatant politics of fear and state reprisal. And then they wonder why Genz is not with them. Likewise for our judicial system, which will now dilly dally on constitutional aspects of BNSS for 20 years, long enough for this generation's politicians go finish up their lives.
Spandan Biswal retweeted
IDBI Bank has been sold to Fairfax Holdings, a Canadian company headed by Prem Watsa. The man was awarded the Padma Shri in 2020.
IDBI Bank was trading around Rs.90 in Indian stock market, but was sold to Fairfax at Rs.81 per share, a whopping 10% discount. Watsa now owns a controlling stake of 60.72% of IDBI Bank, while the government entities own 39%. IDBI Bank’s stake sale amount is around Rs.53,000 crores, while its valuation is Rs.87,000 crores.
But here’s what is concerning.
IDBI is a profitable bank. Its net profit is Rs.9500 crores. It has reduced its NPAs from 32% in 2018 to 2.3% in 2026. This was a huge turnaround. Why would such a bank be sold to a foreign investor like Fairfax at a discounted value?
Fairfax already controls CSB Bank in India. Banking regulations do not permit one promoter to control two Indian banks. Yet Fairfax has been given two years to merge CSB with IDBI or exit. Why?
No promoter is allowed to hold more than 26% stake in a bank, and yet Fairfax has been offered 60.72% controlling stake with an extension of 15 years to pare it down to 40% by 10th year and 26% by 15th year. Technically, Fairfax can control the bank for 9 years, and sell 34.72% at a huge premium in the 10th and 15th year. Why?
In CSB, Fairfax has made a 129% return on their investment in 7 years. So it is safe to assume that IDBI Bank would double its market cap in 10 years, in addition to dividends and profits it makes.
Diwali has arrived early for Fairfax in 2026.
What happened to Make in India? What happened to Atmanirbhar Bharat? Such uncomfortable questions should not be asked. Bhai ne bola karne ka, toh karne ka.
#IDBIBank #happydiwali #Fairfax #AtmanirbharBharat #makeinindia
Just on enterprise value itself, the price at which family silver is being sold is rotten. If you are not getting the value in bids, then don't sell. Govt only has a mandate for 5 years, not to sell off assets which were built over decades. #idbi
If @Google /@samsung were to throw a little money on creating their version of @LiquidTextCorp , they would immediately have an entire new crop elite users of Android tabs. I am thinking like lawyers in India would stop buying ipads and would happily use samsung tabs which cost half as much, if the relevant software was available.
Even Shadan is being too kind. If my MP is not representing me, why should i not be allowed to protest outside his office bungalow. As long as it is peaceful, a protestor walking on the road has as much right to walk holding a placard as any other public using that road. An office goer passing through india gate junction has no better right than a SIR protesting walking done Kartavya/Raj Ghat.
What is the point of a protest if those in power cannot hear it?
With Delhi Police de-notifying Jantar Mantar as a designated protest site and shifting demonstrations towards locations such as Burari, Senior Supreme Court Advocate Shadan Farasat explains the constitutional right to peaceful protest and the limits of police restrictions.
Why must protest sites be within reach of the government? And can moving demonstrations away from the seat of power undermine the right to dissent?
Watch the full conversation on DeKoder: youtube.com/watch?v=elYnk8DG…
#DelhiPolice #GyaneshKumar #SupremeCourt #DelhiProtest #ElectionCommission #SIR #JantarMantar #RightToProtest #ECI #Modi #RahulGandhi
Infact at late night they turn off the ac in mumbai airport - even on the air side of the terminal. Dont know how they will ever make it a hub for any international travel. imagine waiting for your connection at midnight, and sqeating it it out in bombay heat.
The Adani domestic lounges at t2 mumbai airport are now akin to a railway station. Huge queues, almost anyone and everyone gets in. Food is served in the most shabby way as if leftovers of some marriage buffett. Even the sanctity of their own lounge card is defeated as there is hardly any place to sit. More than retail, there are large no of credit card pop ups literally as if hawking with “card le lo, saste mein le lo” feel.
What started as a high quality experience is diminishing in lounge and airport experience.
