Mangaluru: Industry leader Srinivas V Kudva passes away

News Network
August 30, 2020

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Mangaluru, Aug 30: Srinivas Vaman Kudva (87), Chairman and Managing Director of Canara Workshops Ltd., passed away at his residence on Saturday, August 29, 2020 at about 9:00 pm. The end came peacefully in his sleep, according to his family sources.

He is survived by his wife Sharada, two sons Premnath Kudva and Vasant Kudva, and two daughters Shaila and Neena. He was also a doting patriarch to six grandchildren.

His body will be kept for public viewing and for paying last respects at his residence on Swami Vivekananda Road, next to Padua High School, Kadri Hills in the city at 12 noon on Sunday August 30 and followed by cremation at about 3pm.

Biography

Srinivas Vaman Kudva was born on 8th April 1933 in Mangalore. He was the second son of V. S. Kudva, the legendary founder of Canara Workshops Ltd., Navabharatha Kannada daily newspaper and Managing Director of CPC Ltd. After attending Canara High School Main at Dongerkery, Mangalore, he graduated in chemistry obtaining a B.Sc. degree from St. Aloysius College. He left for the USA in 1953 to study MS in Metallurgical Engineering at Lehigh University, Bethlehem, Pennsylvania.

He returned to India in 1956 to join his father at The Canara Workshops Ltd., and helped him to set up one of the first mini steel plants in the country consisting of a 5MT arc furnace and the country’s first vertical continuous casting machine. He was able to put his knowledge into practice to produce superior quality steel from the mini steel. He took over the management of the company on the demise of his father, and under his leadership, the company achieved tremendous progress. He was proficient in computer programming and led the company into the IT era with installing the first computers in the company as early as in the 80s. He was personally responsible for creating the software on which the various systems of the company now run.

He has earlier served also as the Chairman of Canara Public Conveyance Ltd., the pioneer transport organization presently known as CPC Logistics Ltd.

He was the founder director of the All India Automobile Ancillary Association and Metal Scrap Trading Corporation, and was the President of the Kanara Chamber of Commerce and Industries, Mangalore for two terms from 1982 to 1984. He was nominated by the government as Founder President of the Kanara Stock Exchange later renamed as Mangalore Stock Exchange, for a period of three years. He was President of the Mangalore Management Association (Affiliate to the All India Management Association) from 1985-1997 for a period of 12 years. Widely travelled, he had excellent knowledge of various industrial activities in many developed and some developing countries. He was associated with American Society for Metals.

Srinivas Kudva was known for his charitable streak. He contributed financially to the development of Vijaya College, Mulky, which is his family’s native place. He also extended scholarships to students of St Aloysius College, his alma mater.

He was the president of the Canara Foundation and a founder of the V.S. Kudva Foundation, which are engaged in charitable activities and assist in education and other social projects. He was a versatile speaker in both English and Kannada. He was a member of the Rotary Club of Mangalore and later of the Rotary Club of Mangalore Midtown where he had served as its President.

Dakshina Kannada Automobile and Tyre Dealers Association, Mangalore has condoled the demise of Srinivas Kudva, recalling its long association with him. He laid the foundation stone for the Association’s own building ‘Auto Bhavan’ on 27.11.2007. The Association had felicitated him with ‘Lifetime Achievement Award’ during its Annual General Meeting on 25.10.2008 and recognized him as a ‘Patron’ of the Association. 

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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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News Network
November 21,2024

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After the US prosecutors charged Gautam Adani with bribery and fraud, Congress reiterated its call for a Joint Parliamentary Committee (JPC) probe into the transactions of the Adani group, and hit out at Prime Minister Narendra Modi, alleging an "internal nexus" between him and "his favourite businessman."

Senior Congress leader Jairam Ramesh said the indictment of Gautam Adani and others by the US Securities and Exchange Commission validates his party’s call for a Joint Parliamentary Committee investigation.

The Congress has been pushing for the probe since January 2023, raising concerns over alleged irregularities involving Adani and his business dealings, said Ramesh.

Ramesh referred to the party’s “Hum Adani ke Hain” series, where 100 questions were raised about the alleged scams and the links between Prime Minister Narendra Modi and Gautam Adani.
He noted that the questions remain unanswered, reiterating the need for accountability in the matter.

The US prosecutors have charged Adani with deceiving investors by concealing information about his firm's solar energy project in India, which allegedly involved bribery.

Adani has been charged with securities fraud and conspiracy, according to an indictment unsealed on Wednesday. The case focusses on an agreement between Adani Green Energy Ltd. and another organisation to supply 12 gigawatts of solar power to the Indian government.

'BETRAYAL OF INDIAN INVESTORS'

Congress leader Pawan Khera described the allegations against Gautam Adani and his conglomerate as a “betrayal of Indian investors.”

Taking to X, Khera outlined the US charges, including claims that Adani’s group bribed Indian government officials between 2020 and 2024 to secure contracts. Citing media reports, he also pointed out that Gautam Adani personally met a government official to advance the scheme.

Khera referred to a March 2024 incident where the Adani Group allegedly misled the Bombay Stock Exchange and the National Stock Exchange, calling it a “grave violation of investor trust.”

He further highlighted a March 2023 FBI raid on the premises of Sagar Adani, Gautam Adani’s nephew, where electronic devices were seized as part of the investigation.

'SEBI NOT ABLE TO PROVE ANY CHARGES AGAINST ADANI'

Shiv Sena (UBT) leader Priyanka Chaturvedi criticised central probe agencies following US charges against Gautam Adani and others in an alleged bribery case linked to solar energy contracts.

Chaturvedi raised concerns about corporate governance and regulatory oversight in the country. “They talk about corporate governance, responsibility, and accountability. The industrialists should be asked to follow the rules and regulations, but even the agencies were defending him. The SEBI has not yet been able to prove charges against him,” she said, pointing to what she viewed as failures in ensuring accountability.

'BROUGHT DISREPUTE TO INDIA'

On US charges against Gautam Adani, AAP leader Sanjay Singh called for a probe against the industrialist. He said that the probe should be conducted by an investigation agency under the Supreme Court.

"Adani Group has brought disrepute to India. This is a very serious matter. The PM of India should come forward and answer this. All the pending matters against Adani should be probed by an investigation agency under Supreme Court monitoring, and all the corruption done by him, within and outside the country, should come out before the country and action should be taken against him," he said.

BJP DFENDS

BJP IT cell chief Amit Malviya responded sharply to the Opposition’s criticism regarding allegations involving Adani Green Energy and US-based Azure Power. He pointed out that the charges in the indictment are only allegations and emphasised, “The defendants are presumed innocent unless and until proven guilty.”

Malviya argued that the crux of the case concerns agreements to supply 12 GW of power to the Solar Energy Corporation of India (SECI), contingent on SECI securing power purchase agreements with state electricity distribution companies (SDCs).

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News Network
November 22,2024

Mangaluru: A man fell victim to an online scam, losing Rs 1.7 crore after fraudsters posed as officials from TRAI. According to a complaint filed at the CEN police station, the incident began on November 11, when the complainant received a call from an unknown number at 9:49 am.

The caller, claiming to represent TRAI, alleged that another mobile number registered under the complainant's name was involved in illegal activities in Andheri (East), Mumbai. The caller further stated that an FIR was lodged against the complainant for harassment under the guise of marketing. He was instructed to contact Andheri (East) police station immediately or risk his mobile service being deactivated within two hours.

The complainant was subsequently connected to an individual named Pradeep Sawant, who claimed the complainant was implicated in a money laundering scheme linked to the Naresh Goyal fraud case. Sawant alleged that a fraudulent bank account under the complainant's name was opened at Canara Bank, Andheri, and used to purchase a SIM card for illegal activities. He warned that the complainant could face arrest.

Later, the complainant was contacted via WhatsApp video call by individuals posing as Rahul Kumar (a police officer) and Akanksha (a CBI officer). They allegedly sent fabricated CBI documents to his WhatsApp number. The fraudsters demanded money to "resolve" the case. Fearing threats, the complainant allegedly transferred Rs 1.7 crore through RTGS in batches of Rs 53 lakh, Rs 74 lakh, and Rs 44 lakh between November 13 and 19. A case has been registered at the CEN police station and an investigation is ongoing.

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