Leisure, Lifestyle & Wellness
‘Class’ suit auction: Rs4.31 crore for Narendra Modi's monogrammed suit
A diamond trader from Surat won Narendra Modi’s pinstriped monogrammed suit for a whopping Rs4.31 crore after three days of bidding 
 
A Surat-based diamond trader Friday won the bid of Prime Minister Narendra Modi’s pinstriped monogrammed for Rs4.31 crore.
 
Earlier, the scramble to possess the controversial suit of Prime Minister Modi grew with Surat-based diamond trader Mukesh Patel making a staggering bid of Rs2.31 crore on the last day of the auction. Patel had earlier offered Rs2 crore, but later raised the bid through a written offer of Rs2.31 crore to Rs4.31 crore.
 
“I had lost courage as the bidding amount kept on increasing. Then I talked to my business partner who showed readiness to make the bid of Rs2.31 crore,” said Patel, who came to the auction venue with his business partner Sanjay Movaliya.
 
“We will go ahead as per our capacity. We wish to contribute to the ‘Clean Ganga’ mission and that is the reason we have increased our bid,” he said.
 
The auction at the Science Convention Centre closed at 5pm, after which the articles will be handed over to the highest bidder.
 
Prior to Patel, a Haryana-based company’s MD offered Rs2.09 crore for the suit.
 
There have been 11 bids so far on Friday, with four offers of more than Rs2 crore to claim the suit that Modi wore at his meetings with US President Barack Obama during his India visit last month.
 
Prior to Mukesh Patel, Haryana-based LPS Bossard’s MD Rajesh Jain, through his representative Himanshu Parmar, made an offer of Rs2.09 crore for the suit. This was the second bid by Jain, who had earlier offered to buy the suit for Rs1.85 crore.
 
“The good cause of funds going to ‘Clean Ganga’ mission is the motivational factor for the bid. Besides, it is the responsibility of the industries to make bid for a good cause,” Parmar said.
 
Earlier, another Surat-based diamond trader Hitesh Patel had offered Rs2.08 crore, which was his third bid of the day after Rs1.61 crore and Rs1.75 crore.
 
“I have made the bid of Rs2.08 crore for the Modi suit. I don’t know how further I will go, but as this fund will be utilised to clean river Ganga, whatever I give would be less,” Hitesh said.
 
Earlier in the day, businessmen Lavji Badshah and Jayanti Aklara made a joint offer of Rs1.81 crore to purchase the monogrammed suit.
 
Mumbai-based businessman Vipul Shah, managing director of Asian Star, made a written bid of Rs2.05 crore, while prior to him Mukesh Patel offered Rs2 crore for the suit.
 
The other six bids made on the last day of the auction were less than Rs2 crore.
 
On the second day of auction Thursday, the highest bid was Rs1.48 crore for the suit.
 
The bidding for the suit had started with Rs11 lakh on the first day of auction.
 
The suit that kicked up a political storm is being auctioned along with 455 items that Modi had received as gifts during his nearly nine-month long tenure, to generate funds for the Prime Minister’s ambitious ‘Clean Ganga Mission’.
 
Modi was photographed wearing the suit during his summit talks with Obama in Hyderabad House in Delhi on 25th January and at a joint media appearance that followed the meeting.
 
On closer inspection, photographs showed that the stripes were actually a monogram – Narendra Damodardas Modi – and embroidered on the fabric vertically.
 
The suit triggered a debate and Modi was slammed by his political opponents – especially the Congress and the Aam Aadmi Party (AAP) for wearing an expensive suit that some reports claimed cost nearly Rs10 lakh.
 
Amid the media hype surrounding the auction, Congress workers had Thursday protested outside the auction venue, calling the event an act of “self-publicity” by Modi. 

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Two energy consultants held in oil ministry information leak case
The rooms that the accused had allegedly accessed in the middle of the night to steal official documents included rooms of joint secretary for refineries and joint secretary for exploration, besides rooms of some directors in the oil ministry
 
Investigation into the alleged leaking of classified documents from the Petroleum Ministry picked up pace Friday with the arrest of two more persons by Delhi Police. This takes the number of those held in the sensational case to seven.
 
“We have arrested Prayas Jain and Shantanu Saikia in this connection. Both of them are energy consultants who received stolen documents,” said a senior police official.
 
Saikia is a former journalist who runs a web portal on petroleum issues and has his office in Defence Colony in South Delhi. Jain runs his consultancy firm in Patel Nagar in Central Delhi.
 
Cracking down on a suspected case of corporate espionage, Delhi police on Thursday had arrested two officials from the Oil Ministry and three other middlemen in connection with alleged leaking of classified government documents to energy companies for money.
 
The Crime Branch sleuths arrested Asharam (58) and Ishwar Singh (56), who were employed as multi-tasking staff in the ministry, along with three of their alleged accomplices.
 
The other arrested persons include Lalta Prasad and Rakesh Kumar, brother and son of Asharam, who were previously employed as multi-tasking staff at Shastri Bhawan.
 
In the afternoon Friday, police took all the five arrested to the Petroleum Ministry. They were taken to the rooms of senior officials which they had allegedly accessed using duplicate keys.
 
The rooms, that they had allegedly accessed in the middle of the night to steal official documents, included rooms of joint secretary (Refineries) and joint secretary (Exploration), besides rooms of some directors.
 
The bunch of keys allegedly found in their possession was used to open the rooms of top ministry officials they are suspected to have accessed, police sources said.
 
The rooms they had allegedly accessed included that of Special Secretary, two joint secretaries and some directors dealing with sensitive issues like exploration policy, petroleum pricing and gas pricing.
 

 

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Nifty, Sensex may be headed down – Weekly closing report
Bank Nifty has already turned downwards and Nifty will be headed lower if its closes below 8,750
 
The S&P BSE Sensex closed the week that ended on 20th February at 29,231 (up 136 points or 0.47%), while the NSE’s CNX Nifty closed at 8,834 (up 28 points or 0.32%). In the previous week, we had mentioned that Nifty and Sensex may continue to head higher.
 
On Monday, after a gap up opening, Nifty moved higher to hit the intra-day high. However, by the end of the session, all of the intra-day gains were given up and it closed marginally higher. Nifty closed at 8,809 (up 4 points or 0.04%). The annual rate of inflation based on monthly wholesale price index stood at negative 0.39% in January 2015, compared with a reading of 0.11% for December 2014.
 
The stock market was closed on Tuesday for Mahashivratri. 
 
On Wednesday, the Nifty closed higher for the sixth consecutive session as the benchmark gained sudden upward momentum in the noon session. Nifty closed at 8,869 (up 60 points or 0.68%). Prime Minister Modi said his government did not want India to be the biggest importer of defence equipment in the world and vowed to double output of defence manufacturing in the country.
 
On Thursday, Nifty closed marginally higher at 8,895 (up 26 points or 0.30%). In a notification issued on Wednesday, the Reserve Bank of India (RBI) said, "Nominated banks are now permitted to import gold on consignment basis. All sale of gold domestically will, however, be against upfront payments. Banks are free to grant gold metal loans".
 
On Friday, Nifty broke seven days of consecutive upmove, closing at 8,834 (down 62 points or 0.69%). In the first round of coal auction the government has raised nearly Rs84,000 crore. The government said it will start the second tranche of auctions by 25th February.
 
Out of the 27 main sectors tracked by Moneylife, top five and the bottom five sectors for this week were:
 
 

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