IndiGo co-founder's family to sell stake up to Rs 7,500 crore?

News Network
June 12, 2023

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Mangaluru, June 12: The family of IndiGo's co-founder Rakesh Gangwal was likely to sell between 5%-8% stake in the Indian airline's parent InterGlobe Aviation Ltd, worth up to Rs 7,500 crore ($909.58 million), CNBC Awaaz said in a report, citing sources.

Rakesh Gangwal and his wife, Shobha Gangwal, hold 13.23% and 2.99% respectively in InterGlobe as of March 31, while their Chinkerpoo Family Trust holds a 13.5% stake, according to exchange data.

The Gangwal family will likely sell stake in block deals when the lock in for shares open on July 15, the report said.

Shobha Gangwal had cut her stake in the company by over 4% in February.

Interglobe Aviation and a representative for the Gangwal family did not immediately respond to Reuters' request for comment.

Rakesh Gangwal resigned from the company's board in Feb. 2022 and had said that he would cut his stake in the airline over five years.

Rakesh Gangwal and Rahul Bhatia, who co-founded IndiGo in 2006, fell out in early 2020 when the former sought to modify certain rules in the company's articles of association.

Shares of the company, which are up over 19% year to date, fell as much as 3.1% after the stake sale report.

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News Network
January 1,2025

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New Delhi: In a jibe at AAP supremo Arvind Kejriwal on Wednesday, Delhi BJP chief Virendra Sachdeva urged him to give up what he said were the former CM's "deceitful and dishonest" political practices as a new year resolve.

The dig at Kejriwal comes in response to his letter to RSS head Mohan Bhagwat in which he has accused the BJP of "openly" distributing money and trying to get Puravanchali and Dalit voters deleted from Delhi's electoral rolls ahead of the assembly polls.

Sachdeva extended Kejriwal new year greetings in his letter and said since childhood we all make resolutions on New Year's day to give up bad habits and start something good and new.

The Delhi BJP president said he hoped that, on the first day of 2025, Kejriwal would strive to bring meaningful change by abandoning "dishonest and deceitful political practices".

As part of his New Year's resolution, Kejriwal should resolve to "never to swear in the name of his children", and "apologise for promoting liquor" and "making false assurances" of cleaning Yamuna, Sachdeva said.

He also said he hoped the AAP chief would stop "playing with the sentiments" of Delhi's women, elders, and religious communities by making "false promises" and will not "associate with or accept donations" from "anti-national forces" for political gains.

"May God give you the strength to walk on the path of righteousness," Sachdeva said concluding the letter.

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News Network
January 1,2025

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New Delhi: In a jibe at AAP supremo Arvind Kejriwal on Wednesday, Delhi BJP chief Virendra Sachdeva urged him to give up what he said were the former CM's "deceitful and dishonest" political practices as a new year resolve.

The dig at Kejriwal comes in response to his letter to RSS head Mohan Bhagwat in which he has accused the BJP of "openly" distributing money and trying to get Puravanchali and Dalit voters deleted from Delhi's electoral rolls ahead of the assembly polls.

Sachdeva extended Kejriwal new year greetings in his letter and said since childhood we all make resolutions on New Year's day to give up bad habits and start something good and new.

The Delhi BJP president said he hoped that, on the first day of 2025, Kejriwal would strive to bring meaningful change by abandoning "dishonest and deceitful political practices".

As part of his New Year's resolution, Kejriwal should resolve to "never to swear in the name of his children", and "apologise for promoting liquor" and "making false assurances" of cleaning Yamuna, Sachdeva said.

He also said he hoped the AAP chief would stop "playing with the sentiments" of Delhi's women, elders, and religious communities by making "false promises" and will not "associate with or accept donations" from "anti-national forces" for political gains.

"May God give you the strength to walk on the path of righteousness," Sachdeva said concluding the letter.

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News Network
January 1,2025

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A new report released by the UN Human Rights Office says Israel’s indiscriminate attacks on hospitals in Gaza have had a catastrophic effect on the territory’s healthcare system.

Jeremy Laurence, Spokesperson for the Office of the UN High Commissioner for Human Rights (OHCHR) said on Tuesday the regime has used heavy bombs to attack civilians taking shelter in hospitals.

Laurence added that the UN office has also verified the precision targeting of people inside hospitals, including healthcare workers.

He stressed that deliberate attacks on places where the sick and wounded are treated is a war crime.

“And beyond the conflict itself, civilians were seriously impacted. Women, especially pregnant women, have suffered gravely,” he said.

“Our Office received reports that newborns had died because their mothers were unable to attend postnatal check-ups or reach medical facilities to give birth,” he added.

“Intentionally directing attacks against hospitals and places where the sick and wounded are treated, provided they are not military objectives, is a war crime,” he said.

“Intentionally directing attacks against the civilian population as such or against individual civilians not taking direct part in hostilities is a war crime. And intentionally launching disproportionate attacks is also war crime,” he stated.

Laurence said the Israeli regime’s pattern of deadly attacks on Gaza hospitals has pushed the healthcare system to the brink of total collapse.

His remarks came after UN human rights chief, Volker Turk, said earlier that Gaza's hospitals have become a death trap.

He urged independent and credible investigations into hospital-related incidents in Gaza.

Gaza’s population has been reduced by 6 percent since the beginning of the Israeli regime’s campaign of genocide in the besieged Palestinian territory in 2023, the Palestinian Central Bureau of Statistics said.

According to the bureau’s report published on Tuesday, the Israeli offensive has left 45,541 Palestinians dead, 11,000 missing and believed to be under the rubble. At least 100,000 have also been forced to flee, the report said.

The report reveals that “90% of children aged 6 to 23 months and pregnant women” face severe nutritional deficiencies in Gaza.

The report also indicates the Israeli forces deliberately “target specific groups of the population, such as children and youth,” which leads to a significant “distortion … of the population.”

According to the bureau, this will greatly reduce the birth rate, and negatively affect the age and gender structure of the population during the years to come.

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