19-yr-old Bekal boy, who got a surprise job during Dubai trip, flies home after 4 decades

coastaldigest.com news network
January 30, 2021

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Dubai, Jan 30: VVK Babu, a resident of Bekal in Kasaragod district, was a 19-year-old boy, when he visited Dubai, where his cousin lived. It was meant to be a short holiday and he had planned to fly back after “having a look around”. However, an unexpected job offer came up, Babu accepted it. This incident happened in 1977. 

Babu, now 63, has worked in major supermarket chains in senior managerial positions in last four decades. He has also amassed a coin collection over the decades that is priceless to him. And today (Jan 30), he is returning home with his prized coin collection.

In the late 1970s, there was only one supermarket — where he was in-charge of the stores — and just three buildings in Karama. Today, it is one of Dubai’s busiest neighbourhoods, said Babu. In those times, most Dubai residents relied on canned food instead of frozen items, which were very limited, he added. Costs generally were also limited, with school fees, for example, well below Dh250 a month, said Babu, whose two daughters are grown-ups now.

In the early 1980s, Babu grew interested in collecting coins during business trips abroad. “I worked very hard in collecting coins. I used to go out of my way to get my hands on the coins I wanted to have in my collection. I would go to ‘old markets’ and ‘Friday markets’ in the countries I visited to find coins. I would also tell my staff to bring back any old coin they would get during their trips abroad,” he said.

Babu has an 1846 Indian coin from the British Raj, “historical Arabic origin” copper pieces used as currency, and limited-edition United Kingdom sovereign coins, among others. “I’ve never thought of selling my coins and I never will. I feel very attached to my collection. Whenever I felt lonely while my family was away, I would open the collection and go through it,” Babu said.

He plans to have the collection exhibited at his childhood school once he is back home. Besides continuing to grow the collection, Babu will also devote some time to a business he owns there. He is also open to working part-time as a consultant, perhaps in Dubai again someday. 

“Many expats say the ‘UAE is my second home’, but I feel like this is my first home. The UAE gave me everything and I have seen it grow. Today, I’m proud to say the UAE is number one and I’ve been a part of it,” he said.

“My wife and children have always been my source of support. And the people and companies I’ve worked with have given me their support also and the opportunity to grow. I thank them all,” he added.

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News Network
November 16,2024

Mangaluru: The Kavoor police in Mangaluru, Karnataka, have arrested three individuals from Kerala in connection with two separate cybercrime cases, including one involving extortion under the guise of a "digital arrest."

City Commissioner of Police Anupam Agrawal reported that one of the arrested individuals, Nisar, a resident of Ernakulam district, posed as a CBI officer. He allegedly threatened the complainant with arrest and extorted Rs 68 lakh. A case has been filed under sections 66 (C) and 66 (D) of the IT Act, and sections 308 (2) and 381 (4) of BNS.

In another case, the Kavoor police arrested two men, Sahil K P of Thiruvannur, Kozhikode, and Muhammad Nashath of Mappila Koyilandy, Kerala, in connection with a share trade fraud. The accused are alleged to have deceived the complainant by promising substantial profits from an investment in the stock market. Trusting the fraudsters, the complainant invested Rs 90 lakh, which was subsequently lost. A case has been registered under sections 66 (C) and 66 (D) of the IT Act, and sections 318 (4) and 3 (5) of BNS.

The accused were arrested in Koyilandi and presented before the court. The operation was carried out under the guidance of City Police Commissioner Anupam Agrawal, led by Mangaluru North Sub-Division ACP Srikanth K, Kavoor Inspector Raghavendra Byndoor, Kavoor PSI Mallikarjuna Biradara, and staff members Ramanna Shetty, Bhuvaneshwari, Rajappa Kashibai, Praveen N, and Malatesh. 

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News Network
November 21,2024

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Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

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News Network
November 11,2024

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Udupi, Nov 11: The Karkala town police in Udupi have arrested Krishna Naik, the sculptor responsible for installing a 33-foot Parashurama statue at Umikkal Hill in Bailur, Karkala taluk. 

Naik, the owner of Krish Art World and a resident of Bengaluru's Visvesvaraya Layout, was apprehended in Mahe, part of the Union Territory of Puducherry, for allegedly substituting a look-alike statue in place of a genuine bronze figure at the Parashurama Theme Park in Karkala.

Udupi Superintendent of Police Dr. Arun K confirmed the arrest, stating that Naik faces charges under Sections 420 (cheating) and 409 (criminal breach of trust) of the Indian Penal Code. 

This legal action followed a complaint lodged in June by Krishna Shetty, a resident of Nallur village, Karkala. Shetty claimed that Naik had received a payment of ₹1,25,50,000 from Udupi Nirmithi Kendra for the installation of a bronze Parashurama statue. However, Naik allegedly deceived the government by installing a replica instead.

The statue was unveiled on January 27, 2023, by then Chief Minister Basavaraj Bommai. Current Chief Minister Siddaramaiah has since ordered a CID investigation to probe deeper into the alleged fraud surrounding the statue's installation at the theme park.

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