Adani to buy remaining 51 per cent stake in BQ-publisher Quintillion Business Media

News Network
August 15, 2023

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Billionaire Gautam Adani's group will acquire the remaining 51 per cent stake in Quintillion Business Media Pvt Ltd to take full control of the Raghav Bahl-curated digital business news platform.

Adani Enterprises Ltd, the ports-to-energy conglomerate's flagship firm, in a stock exchange filing, said the board of its subsidiary AMG Media Networks Ltd 'has approved to enter into a binding memorandum of undertaking (MoU) with Quintillion Media Ltd for the acquisition of remaining 51 per cent stake' in the firm which operates the business and financial news digital media platform BQ Prime.

Quintillion was Adani's first bet in the Indian news industry before taking about 65 per cent stake in broadcaster NDTV in December last year.

AMG Media had previously bought a 49 per cent stake in Quintillion Business Media Ltd (QBML) for Rs 47.84 crore.

BQ Prime was earlier known as Bloomberg Quint, a former joint venture between US-based financial news agency Bloomberg Media and Bahl's Quintillion Media. Bloomberg exited that agreement in March last year.

'QBML will become a wholly-owned subsidiary of AMNL' after the acquisition, it said without disclosing the financial details of the deal.

Adani Group had set up AMG Media Networks for its foray into businesses of 'publishing, advertising, broadcasting, distribution of content over different types of media networks'.

In May 2022, AMG Media entered into a shareholders' agreement with Quintillion Media Ltd (QML) for the acquisition of QBML.

In September 2021, AMG Media Networks appointed veteran journalist Sanjay Pugalia to lead Adani Media Ventures, its media-focused company.

'The MoU records the terms of agreement and inter-se rights and obligations and other connected matters in respect of the acquisition of remaining 51 per cent equity shares of QBML by AMNL from QML,' the latest filing said. 

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News Network
November 14,2024

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Bengaluru: The Prime Minister Narendra Modi led union government has requested the Karnataka High Court to direct the Mandya district administration and the state government to clear a madrasa operating within the premises of the historic Jama Masjid in Srirangapatna.

The Waqf Board, opposing this move, has claimed the mosque as its property and defended the right to conduct madrasa activities there.

The matter was brought before a division bench headed by Chief Justice N V Anjaria following a public interest litigation filed by a person named Abhishek Gowda from Kabbalu village in Kanakapura taluk. The petition alleged “unauthorised madrasa activities” within the mosque.

Representing the Central government, Additional Solicitor General of India for High Court of Karnataka, K Arvind Kamath argued that the Jama Masjid was designated as a protected monument in 1951, yet unauthorised madrasa operations continue there.

He noted that concerns over potential law and order issues have so far prevented any intervention. Kamath urged the court to direct the Mandya district administration to take action and vacate the madrasa from the mosque.

In defence, lawyers for the state government and the Waqf Board contested this request, stating that the Waqf Board had been recognised as the owner of the property since 1963 and, thus, conducting madrasa activities there is lawful.

After hearing both sides, the bench adjourned the case for further arguments, scheduling the next hearing for November 20.

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News Network
November 14,2024

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The UN special rapporteur for Palestine has slammed Israel’s parliament for passing a law authorizing the detention of Palestinian children, who are “tormented often beyond the breaking point” in Israeli custody.

Francesca Albanese, the UN special rapporteur on the rights situation in the Occupied Palestinian Territory, in a Thursday post on X, characterized the experiences of Palestinian minors in Israeli detention as extreme and often inhumane.

The UN expert highlighted the grave impact of this policy, noting that up to 700 Palestinian minors are taken into custody each year, a practice she described as part of an unlawful occupation that views these children as potential threats.

Albanese said Palestinian minors in Israeli custody are “tormented often beyond the breaking point” and that “generations of Palestinians will carry the scars and trauma from the Israeli mass incarceration system.”

She further criticized the international community for its inaction, suggesting that ongoing diplomatic efforts, which often rely on the idea of resuming negotiations for peace, have contributed to normalizing such human rights violations against Palestinian children and the broader population.

The comments by Albanese came in response to Israel’s parliament (Knesset) passing a law on November 7 that authorizes the detention of Palestinian children under the age of 14 for “terrorism or terrorist activities.”

Under the legislation, a temporary five-year measure, once the individuals turn 14, they will be transferred to adult prison to continue serving their sentences.

Additionally, the law allows for a three-year clause that enables courts to incarcerate minors in adult prisons for up to 10 days if they are considered dangerous. Courts have the authority to extend this duration if necessary, according to the Knesset.

The legislation underscores a shift in the treatment of minors and raises alarms among human rights advocates regarding the legal and ethical ramifications of detaining children and the conditions under which they may be held.

Thousands of Palestinians, including hundreds of children and women, are currently in Israeli jails—around one-third without charge or trial. Also, an unknown number are arbitrarily held following a wave of arrests in the wake of the regime's genocidal war on Gaza.

Since the onset of the Gaza war, the Israeli regime, under the supervision of extremist minister Itamar Ben-Gvir, has turned prisons and detention centers into “death chambers,” the ministry of detainees and ex-detainees’ affairs in Gaza says.

Violence, extreme hunger, humiliation, and other forms of abuse of Palestinian prisoners have been normalized across Israel’s jail system, reports indicate.

Over 270 Palestinian minors are being detained by Israeli authorities, in violation of UN resolutions and international treaties that forbid the incarceration of children, as reported by Palestinian rights organizations.

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News Network
November 13,2024

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Bengaluru: An estimated overall 10.14 per cent voter turnout was recorded during the first two hours, since the voting began for bypolls to three Assembly segments in Karnataka on Wednesday, election officials said.

The voting began at 7 am and will go on till 6 pm.

More than seven lakh voters are eligible to cast their votes in about 770 polling stations in Shiggaon, Sandur and Channapatna, where a total of 45 candidates are in the fray.

While Channapatna recorded 10.34 per cent voter turnout till 9 am, it was 10.08 per cent in Shiggaon, and 9.99 per cent in Sandur, election officials said.

Voters, including women and elderly were seen queuing up in front of polling booths in these segments.

By-polls for Sandur, Shiggaon, and Channapatna are necessitated, as the seats fell vacant following the election of their respective representatives -- E Tukaram of Congress, former CM Basavaraj Bommai of BJP, and Union Minister H D Kumaraswamy of JD(S) -- to Lok Sabha in May elections.

As many as 31 candidates are in the fray from Channapatna, while Sandur and Shiggaon have six and eight contenders, respectively.

Elaborate security arrangements have been made in the three segments for the smooth conduct of the polls.

The by-polls will witness a straight fight between the ruling Congress and BJP in Sandur and Shiggaon segments, while in Channapatna, JD(S) which is part of the NDA alliance is in contest against the grand old party.

Among the three segments, Channapatna is considered to be a "high profile", where the contest is between C P Yogeeshwara, a five time MLA from the segment and former Minister, who joined the Congress quitting BJP ahead of nomination, and actor-turned -politician Nikhil Kumaraswamy, who is Kumaraswamy’s son and former PM H D Deve Gowda's grandson.

BJP's Bharath Bommai, son of Basavaraj Bommai, is fighting Congress Yasir Ahmed Khan Pathan, who had faced defeat against the former Chief Minister in the 2023 Assembly polls, in Shiggaon.

Bharath Bommai and his father cast their vote at a polling booth in Shiggaon segment.

In Sandur, Bellary MP Tukaram's wife E Annapurna of Congress is contesting from the seat vacated by her husband, against, BJP ST Morcha president Bangaru Hanumanthu, who is considered close to party leader and former mining barron G Janardhan Reddy.

Annapurna, Tukaram and other family members cast their votes at a booth in the segment.

With Nikhil Kumaraswamy and Bharath Bommai contesting, the third generation of Gowda and Bommai families are in the fray in this by-poll. Both their fathers and grandfathers have served as Karnataka's Chief Ministers in the past.

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