Companies & Sectors
BNP Paribas to acquire 5 percent in Srei Infrastructure
Chennai: French group BNP Paribas has decided to acquire 5 percent stake in Srei Infrastructure Finance Ltd (SREI) while exiting the unlisted outfit Srei Equipment Finane Ltd (SEFL), an equal joint venture with SREI.
 
In a regulatory filing with BSE, listed company SREI on Monday said BNP Paribas Lease Group, a subsidiary of BNP Paribas group, will sell/transfer its 50 percent holding in SEFL to SREI.
 
The BNP Paribas Lease will sell its holding in SEFL to SREI at a price determined as per the Reserve Bank of India's (RBI) guidelines.
 
The sale consideration will be equal to the total consideration which BNP Paribas Lease will pay for acquiring 5 percent stake in SREI, the latter said.
 
The price for 5 percent stake in SREI will be higher of (a) the average of weekly high and low of the volume weighted average price of the equity shares of SREI during the 26 weeks preceding the closing date of the acquisition (b) the two weeks average price of high and low of SREI stock preceding the date of acquisition calculated as per market regulator guidelines.
 
According to SREI, the French group believes that it would be beneficial for it to be a shareholder in the company to take advantage of the opportunities in the infrastructure sector.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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PMO denies accepting Sanjiv Chaturvedi's award money
The Prime Minister Office (PMO) has denied accepting $30,000 donated by Magsaysay Award winner and bureaucrat Sanjiv Chaturvedi, saying conditional donations are not accepted.
 
Refuting the PMO's claim, Chaturvedi, the Indian Forest Service (IFS) officer, said he never put any conditions and threatened to take the matter to court.
 
"Donations can be made towards Prime Minister National Relief Fund (PMNRF) through cheque/demand draft... It is apprised that PMNRF does not accept conditional donations," says a letter written by the PMO to Chaturvedi, suggesting that no money has been received from the bureaucrat.
 
Chaturvedi - who won Magsaysay Award 2015 for his "exemplary courage" in exposing corruption - decided to donate his award money to the PMNRF after AIIMS-New Delhi, under the union health ministry, stonewalled his donation which he had meant to be used for the treatment of cancer patients.
 
He is currently the deputy secretary at AIIMS, having been removed from the post of Chief Vigilance Officer (CVO) of the institute in August 2014, much before the completion of his tenure which was to end in 2016.
 
In his letter to the PMO making the donation, Chaturvedi said he decided to donate the Magsaysay Award money to the PMNRF after he failed to get the health ministry to accept it.
 
The bureaucrat's request to donate the money to AIIMS for the treatment of the cancer patients was initially kept on hold and later refused to be accepted.
 
Replying to the latest letter from the PMO, Chaturvedi said that there were never any conditions from his side in making the donation and urged the officials to go through his letter once again.
 
"I reiterate that the said donation is absolutely without any conditions. In spite of my freedom fighter family background and my service career being the biggest testimiony, the hypothetical inferences that have been drawn disregarding the material facts are very unfortunate," wrote Chaturvedi.
 
The letter questions the intention of the PMO officials in examining his documents and the cheque that Chaturvedi said he had submitted to the PMO on December 5.
 
"It appears that either the concerned authorities of the PMO have not bothered to go through my letter and documents or the said cheque has been misplaced," he wrote.
 
"In either case, you (PMO) are requested to timely confirm the non-receipt of cheque No.343000 dated 5th December 2015 to the PMNRF, so that I may cancel the same and issue a fresh cheque of the said amount in favour of the PMNRF." 
 
The bureaucrat has been widely perceived to have a tough stand on corruption and has as a result incurred the displeasure of the political bosses and suffered frequent transfers.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article. 

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COMMENTS

Subramani P K

11 months ago

Why this donation is not acceptable for PMNRF should be made clear. If the donor has stipulated any condition & if it is in the good of the country & people PMO should not have any objection in accepting it.

Amritraj Peshin

11 months ago

If Cchaturvedi wants to donate to Cancer treatment why does h not give it to one of the hospitals, Tata Memorial for example. Why the publicity hungry AIIMS PMNRF...next we will hear UN refused his money.

Is he indulging in Charity OR shameless Self Promotion ?

REPLY

Babubhai Vaghela

In Reply to Amritraj Peshin 11 months ago

PMs ask for Donations.He has given. Why PMO Not Accept?

Babubhai Vaghela

11 months ago

PMO under BJP PM Narendra Modi Really Acting Funny Towards the Persons who Expose High Level Corruption :(

'Interstellar' - Most pirated film of 2015
Filmmaker Christopher Nolan's sci-fi drama "Interstellar" has taken the top spot as the most pirated movie of 2015.
 
The film, which was released in 2014, was downloaded 46.8 million times, according to piracy tracking firm Excipio, reports variety.com.
 
Other movies prominent on the list are several big money makers like "Furious 7" (44.8 million), "Avengers: Age of Ultron" (41.6 million) and "Jurassic World" (36.9 million). 
 
However, this year's record-breaking movie "Star Wars: The Force Awakens" doesn't make it into the list, probably because the movie didn't start showing up on piracy sites until several days after its release. There's still a chance that it will top the same list in 2016. 
 
In 2014, just like "Interstellar" did, the 2013 release "The Wolf of Wall Street" led the pack to become the most pirated movie. The Leonardo DiCaprio-starrer was downloaded 30 million times last year, significantly less than the space movie's nearly 47 million downloads. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article. 

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