Adani Group to pick 74 per cent stake in Mumbai airport

Agencies
August 31, 2020

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Mumbai, Aug 31: Billionaire Gautam Adani's Adani Group on Monday said it has reached an agreement to acquire GVK Group's shareholding and control of Mumbai airport.

Adani Airport Holdings has "entered into an agreement to acquire the debt of GVK Airport Developers," Adani Enterprise said in a regulatory filing.

GVK Group holds 50.50 per cent equity stake in Mumbai International Airport Limited (MIAL). The debt will be converted into equity.

The two firms did not give further financial details of the deal.

"The Adani Group will also take steps to complete the acquisition of a 23.5 per cent equity stake from ACSA (Airports Company of South Africa) and Bidvest in MIAL for which it has obtained Competition Commission of India's approval," it added.

Together with 50.50 per cent stake of GVK, Adani's total holding in Mumbai airport will be 74 per cent after completion of the transaction.

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coastaldigest.com news network
March 3,2025

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In a significant policy shift, the central government has amended the passport application process, making birth certificates the sole valid proof of date of birth for individuals born on or after October 1, 2023. This move aims to streamline documentation and ensure uniformity in age verification.

Mandatory Birth Certificate for New Applicants

The new rule, announced last week as part of the amended Passport Rules, will take effect after its publication in the official Gazette. As per a notification dated February 24, the Ministry of External Affairs has revised the requirements for submitting proof of date of birth when applying for a passport.

For individuals born on or after October 1, 2023, only birth certificates issued by the Municipal Corporation, the Registrar of Births and Deaths, or any other authorized body under the Registration of Births and Deaths Act, 1969, will be accepted as valid proof of date of birth.

However, those born before this date can continue to submit alternative documents, including school transfer certificates, matriculation certificates, PAN cards, driving licenses, or extracts from service records.

Changes in Residential Information

To enhance privacy, applicants’ residential addresses will no longer be printed on the final page of passports. Instead, immigration officers will retrieve this information by scanning an embedded barcode.

New Colour-Coded Passports

The government has also introduced a colour-coding system for passports:

  • White passports for government officials
  • Red passports for diplomats
  • Blue passports for ordinary citizens

Parental Information No Longer Required

Another major change is the removal of parents' names from the last page of the passport. This revision is aimed at protecting personal information, particularly for individuals from separated or split families.

Expansion of Passport Seva Kendras

To enhance accessibility, the government plans to increase the number of Post Office Passport Seva Kendras (POPSKs) from 442 to 600 over the next five years. The Department of Posts and the Ministry of External Affairs (MEA) have extended their Memorandum of Understanding (MoU) to facilitate this expansion, ensuring continued passport services at POPSKs.

Officials noted that passport rules regarding date of birth had not been updated for a long time, largely because many rural residents lacked birth certificates. However, with stricter enforcement of the Registration of Births and Deaths Act, 1969, birth certificates have now become the only recognized proof for those born after October 1, 2023.

These sweeping changes mark a significant update in India’s passport application process, reinforcing security, privacy, and efficiency in document verification.

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News Network
March 5,2025

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The number of Indian high-net-worth individuals (HNWIs), those having assets more than $10 million, rose 6 per cent last year to 85,698, according to Knight Frank.

Global property consultant Knight Frank on Wednesday released its 'The Wealth Report 2025', which estimated the HNWI population in India at 85,698 in 2024, as against 80,686 in the preceding year.

The number is expected to rise to 93,753 by 2028, reflecting India's expanding wealth landscape, the consultant said.

The increasing trend of HNIW population highlights the country's strong long-term economic growth, increasing investment opportunities, and evolving luxury market, positioning India as a key player in global wealth creation.

India's billionaire population has also seen a strong year-on-year growth in 2024.

"India is now home to 191 billionaires, of which 26 joined the ranks in just the last year, which was pegged at just 7 in 2019," the consultant said.

The combined wealth of Indian billionaires is estimated at $950 billion, ranking the country third globally, behind the US ($5.7 trillion) and Mainland China ($1.34 trillion).

"India's growing wealth underscores its economic resilience and long-term growth potential. The country is witnessing an unprecedented rise in high-net-worth individuals, driven by entrepreneurial dynamism, global integration, and emerging industries," Shishir Baijal, Chairman & Managing Director, Knight Frank India, said.

This expansion is not just in scale but also in the evolving investment preferences of India's elite, who are diversifying across asset classes, from real estate to global equities, he added.

"In the decade ahead, India's influence in global wealth creation will only strengthen," Baijal said.

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News Network
March 15,2025

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The US Department of Homeland Security (DHS) has confirmed that Ranjani Srinivasan, an Indian doctoral student at Columbia University, has voluntarily left the United States after her visa was revoked over alleged support for Hamas, the democratically elected party in Gaza.

Srinivasan, a PhD student in Urban Planning, was in the US on an F-1 student visa. The US Department of State revoked her visa on March 5, 2025, citing security concerns related to her alleged involvement in activities supporting Hamas. On March 11, 2025, she self-deported using the CBP Home App, with officials confirming video footage of her departure.

US Homeland Security's Response

Secretary of Homeland Security Kristi Noem emphasized that studying in the US on a visa is a privilege, which can be revoked if an individual is found to support violence and terrorism. She stated that such individuals should not be permitted to stay in the country.

Srinivasan’s Academic Background

Srinivasan’s academic credentials include:

  • M.Phil in Urban Planning – Columbia University (GSAPP)
  • Master’s in Design – Harvard University (Graduate School of Design)
  • Bachelor of Design (B.Des.) – CEPT University, India
  • Her research focuses on land-labor relations in India’s peri-urban areas, with academic interests in political economy, land politics, and labor sociology.

'Security Concerns'

Her case has gained attention amid increased US government scrutiny of individuals and organizations allegedly supporting Hamas. Visa revocations for security reasons have become more frequent, reflecting the government's strict stance on national security and immigration policies.

Srinivasan’s self-deportation highlights the US government’s ongoing efforts to enforce visa regulations and prevent individuals it considers a security threat from remaining in the country.

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