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Allahabad HC said that the UP Police is acting as law unto themselves as they detained a person unlawfully even before his arrest
Kolkata witnesses traffic snarls on the first day of the Durga Puja festival as revellers start pnadal-hopping
Neha Bora was subsequently released and Dipke is to appear before a magistrate today at noon
Delhi Police detained Cockroach Janta Party founder Abhijeet Dipke, Neha Bora of AISA, student leaders and supporters ahead of a rally in Connaught Place demanding Chief Election Commissioner Gyanesh Kumar's resignation. The protest followed the detention and jailing of two CJP leaders earlier in the week over demonstrations at Jantar Mantar
The Reserve Bank of India is considering further monetary tightening to counter capital outflows and increase the cost of betting against the rupee, according to bankers and analysts cited by Reuters. The measures follow recent rate increases and steps to drain liquidity as pressure on the currency and inflation concerns persist
India directed oil marketing companies to stop diverting sugar-based feedstocks for ethanol production in the 2026–27 supply year, according to a new tender issued on Friday. The companies have invited bids for 11 billion litres of ethanol made from alternatives including corn and broken rice, amid concerns about domestic sugar supplies and prices
Finance Minister Nirmala Sitharaman said India's trade imbalance with China was growing sharply and attributed the problem partly to restrictions on Indian goods and services entering the Chinese market. China subsequently said it was ready to work with India to address mutual economic and trade concerns; India's trade deficit with China reached $69 billion in the first half of FY2026–27, up 27% year-on-year
Indian equity benchmarks extended their recovery on Friday, with the Sensex rising 413.66 points to close at 74,729.27 and the Nifty 50 gaining 148.80 points to settle at 23,146.15. Information technology shares, including Tech Mahindra, Infosys and TCS, helped lift the indices
India defeated Zimbabwe by four wickets in the opening women's T20 International in Raipur, taking a 1–0 lead in the three-match series. Deepti Sharma and Niki Prasad combined in an 82-run stand after India's top order collapsed, helping the hosts chase down Zimbabwe's total of 114 for five
Indian wrestler Komal won bronze in the women's 59 kg category at the Under-23 World Wrestling Championships in Las Vegas, defeating Kazakhstan's Viktoriia Khusainova 7–2. Fellow Indian Amruta Pujari advanced to the women's 72 kg final after recording two pinfall victories
Indian shuttler Jagsher Singh Khangurra secured a bronze medal at the BWF World Junior Badminton Championships in Cairo
The Supreme Court of India upheld the Bombay High Court's decision quashing the 2020 write-off of ₹8,415 crore in additional tier-1 bonds issued by Yes Bank (Yes Bank). The court ruled that the bank's administrator lacked the authority to extinguish the bonds under the final reconstruction scheme, strengthening bondholders' claims
The Supreme Court issued notices to the Election Commission of India, Delhi Police and opposition leaders, including Rahul Gandhi and Akhilesh Yadav, in separate petitions concerning electoral-roll revision and protests held in Delhi on October 10–12. The court also directed the preservation of CCTV footage linked to allegations of police excesses
The Supreme Court ruled that a person converting from Hinduism to Islam cannot automatically claim backward-class reservation benefits in the new religious community solely on the basis of their previous caste status. The judgment upheld the Madras High Court's decision striking down a 2024 Tamil Nadu government order that permitted such certification for specified communities
The Election Commission of India ordered a Special Summary Revision of electoral rolls in 14 states and three Union Territories, using January 1, 2027, as the qualifying date for voter eligibility. The draft rolls are scheduled for publication on November 12, claims and objections will be accepted until December 11, and the final rolls are due on January 4, 2027

Delhi HC refuses to ban CJP's Tiranga rally at Central Park in Connaught Place today /////// Police says will control and regulate it /////// NDMC closes the park for the public on Friday and Saturday

oppn parties

The Rs 1 Lakh Crore Maths

By admin
First publised on 2018-05-11 21:58:32

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By our team of in-house writers.

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The Walmart-Flipkart deal will renew global investor faith in Indian startups as it has given fantastic returns to those investors who backed Flipkart over the years and stayed till now. The deal has valued Flipkart at $ 20bn (Rs 1.35 lakh crore) and Walmart is paying over Rs 1 lakh crore to acquire 77% stake in the company (although there is confusion over whether the biggest shareholder, SoftBank of Japan, will eventually sell its 22.3% stake). Where will this Rs 1 lakh crore go?

Let us begin with the investors who stayed with Flipkart over the years. Accel was the first big investor in the company and had put in $ 100 million since 2008/2009. It took home between $ 800 million to $ 1bn. That translates to nearly Rs 6750 crore.

Tiger Global was one of the biggest early investors. It invested close to $ 1bn or Rs 6700 crore since 2010 in different rounds of investing. It sold 17% stake for $ 3.3bn or Rs 22275 crore.

Naspers got $ 2.2 bn or Rs 14850 crore for the $ 600 million it invested in 2012.

SoftBank is reported to be in two minds about selling its 22.3% which can fetch it $ 4.46bn or Rs 30105 crore. It had invested $ 2.5bn or Rs 14800 crore just 9 months back.

Employee-held ESOPS will get around $ 1 million or Rs 6.73 crore.

Co-founder Sachin Bansal has exited after selling his remaining 5.5% stake entirely, fetching him Rs 6700 crore.

The other co-founder Binny Bansal will remain CEO. He has sold partial stake for Rs 700 crore and has retained 4.24% that is estimated at Rs 6000 crore.

Apart from this, Rs 13500 crore is being invested as fresh equity.

Phew, there you have it, the arithmetic of Rs 1 lakh crore.

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