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<keyword id="6362997" type="CITY" weightage="100" keywordseo="DLF">DLF</keyword>, which is India's largest commercial real estate developer, has shortlisted six names, who could potentially buy the <a href="http://www.businessinsider.in/Indias-DLF-promoters-to-sell-stake-in-rental-business/articleshow/49283761.cms">40% promoters’ stake </a>in its rental arm, called <keyword id="2984482" type="UNKNOWN" weightage="100" keywordseo="DLF-Cyber-City-Developers-Limited">DLF Cyber City Developers Limited</keyword>. 
 
The deal is expected be worth about Rs 13,000 crore, as per <a href="http://economictimes.indiatimes.com/industry/indl-goods/svs/construction/dlf-shortlists-6-potential-buyers-for-promoters-40-per-cent-stake-in-rental-arm/articleshow/53107305.cms">ET</a> sources. 
 
Over the weeks gone by, <a href="http://www.businessinsider.in/Shares-of-DLF-Ltd-surged-to-its-days-high/articleshow/48771527.cms">DLF </a>had invited expressions of interest, receiving about 11 offers, from which GIC, Blackstone, Warburg Pincus, Brookfield AssManagement, a consortium of Abu Dhabi Investment Authority (ADIA), Kotak Realty Fund and Qatar Investment Authority (QIA) have been shortlisted, along with an unidentified fund. 
 
Reportedly, Temasek, Khazanah, Canada Pension Plan Investment Board and Goldman Sachs had also offered for the deal but couldn’t get shortlisted. 
 
Also read: <a href="http://www.businessinsider.in/EXCLUSIVE-How-DLF-gave-the-country-Mall-of-India-its-first-destination-mall/articleshow/52025229.cms">EXCLUSIVE: How DLF gave the country Mall of India, its first destination mall</a> 
 
Using the money from this transaction, <a href="http://www.businessinsider.in/DLF-is-building-itself-well-at-the-Market-today-Know-how/articleshow/48079971.cms">DLF </a>is planning to wipe out the debt that it has in its development arm, so that the residential business model can attract investments without risks. 
 
<a href="http://media2.intoday.in/btmt/images/stories/dlf2_505_070813045645_071213030449_072513064523_021014034323.jpg">Image source</a>

DLF is all set to sell promoters’ 40% stake in rental arm, shortlists 6 potential names

<ul><li>The SGX Nifty was trading 0.27% lower at 7:45 am, indicating a red start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst negative cues from the global markets, the Indian equities are likely to open lower on Thursday. The SGX Nifty was trading 0.27% lower at 7:45 am, indicating a weak start for Nifty50. The US stocks also closed on a choppy note as negotiations continue to drag over the stimulus package. Dow Jones shed over 97 points, and the S&amp;P 500 ended 0.22% lower. These are the stocks to watch out for during the trading session on October 22: Bajaj Finserv The private lender Bajaj Finserv reported an 18% fall in its consolidated net profit to ₹986.29 crore for the quarter ended September 30, as group entities suffered a contraction in profits. The company’s overall income rose 5.8% to ₹15,051.59 crore during the quarter under review. The shares of Bajaj Finserv ended 0.72% lower on Wednesday. DLF Realty major DLF’s rental arm has signed a deal with Standard Chartered GBS. DLF will be leasing 7.7 lakh sq ft office space in an upcoming commercial tower in Chennai. The shares of DLF ended 2.87% higher on Wednesday. Prestige and Brigade Bengaluru-based developers Prestige and Brigade Group have partnered to develop a shopping mall and a hotel in Chennai at the cost of around ₹500 crore. The two leading developers have jointly taken 7.5-acre land on a 99-year lease in Chennai. The shares of Prestige ended 3% lower on Wednesday, whereas Brigade was up over 4%. Kirloskar Brothers Regulator SEBI has slapped a penalty of ₹31 crore on Kirloskar Brothers Ltd (KBL) promoters and others for indulging in insider trading and committing fraud on public shareholders of Kirloskar Industries. Also, the entities have been barred from the capital market for a period ranging three months to six months, the regulator said in three separate orders on Tuesday. The shares of Kirloskar Brothers ended 0.18% lower on Wednesday. Aavas Financiers Aavas Financiers board approved to raise up to ₹100 crore via bonds. The shares of Aavas Financiers ended 0.44% lower on Wednesday. Equitas Small Finance Bank IPO The initial public offering (IPO) of Equitas Small Finance Bank was subscribed 67% on the second day of bidding. The portion reserved for qualified institutional buyers (QIBs) was subscribed 5%, non-institutional investors 5% and retail investors 142%. Bajaj Auto, Asian Paints, Biocon and Bharti Infratel Bajaj Auto, Asian Paints, Biocon and Bharti Infratel will be reporting their financial earnings today. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/kumar-mangalam-birla-says-cement-industry-is-recovering-and-analysts-find-evidence-of-it-outside-ultratech-too/articleshow/78791281.cms" data-type="tilCustomLink">Kumar Mangalam Birla says cement industry is recovering and analysts find evidence of it outside UltraTech too</a> <a href="https://www.businessinsider.in/business/startups/news/uber-bus-pradeep-parameswaran-says-india-and-apac-will-follow-egypt-success/articleshow/78788982.cms" data-type="tilCustomLink">Uber Bus in India soon? Head of Mobility in APAC says he is ready to import the Egypt experiment</a> <a href="https://www.businessinsider.in/india/news/sadhguru-advice-government-should-give-tax-relief-for-sustainable-businesses/articleshow/78790522.cms" data-type="tilCustomLink">Sadhguru’s advice: Government should give tax relief for sustainable businesses</a>

Top stocks to watch — DLF, Bajaj Finserv, Prestige, Brigade, Bajaj Auto, Asian Paints, Biocon, and others

New Delhi, Feb 3 () Realty firm DLF has given on lease about 2 lakh sq ft office space to social media platform Facebook in Gurugram, sources said.
 The leasing transaction has been done at around Rs 135 per sq ft a month, the sources said adding that the space has been taken in DLF Atria building at Cybercity in Gurugram, Haryana.
 When contacted, DLF Managing Director (Rental Business) Sriram Khattar said, "We do not comment on individual deals due to client confidentiality."
 An e-mail sent to Facebook remained unanswered. The social media platform had an estimated 328 million user base as on September 2019.
 DLF has a rental portfolio of about 36 million sq ft, of which around 32 million sq ft is office space and rest retail properties. It earns over Rs 3,000 crore rental income annually from these leased assets.
 The rental assets are being held by DLF's joint venture firm DLF Cyber City Developers Ltd (DCCDL). Singapore's sovereign wealth firm GIC has 33 per cent stake in DCCDL, while realty major has 67 per cent shareholding.
 "Our highest standards of compliance, safety and sustainability coupled with our passion for customer delight does attract occupiers to our properties. DLF has a demonstrated record of unwavering commitment towards providing the highest quality standards at affordable rentals," Khattar told .
 With commercial real estate performing well despite overall slowdown in the real estate market, DLF has started construction of another 20 million sq ft area in Gurugram and Chennai.
 Office space leasing touched an all-time high in the calendar year 2019 as per the reports of various real estate consultants.
 To monetise its commercial assets, DLF in December 2017 entered into a joint venture with Singapore sovereign fund GIC when DLF promoters sold their entire 40 per cent stake in DCCDL for nearly Rs 12,000 crore.
 This deal included sale of 33.34 per cent stake in DCCDL to GIC for about Rs 9,000 crore and buyback of remaining shares worth about Rs 3,000 crore by DCCDL.
 DLF has so far developed 153 real estate projects comprising 331 million sq ft. It has a land bank of 192 million sq ft. MJH HRS

DLF gives on lease 2 lakh sq ft office space in Gurugram

Realty major <keyword id="6362997" type="CITY" weightage="100" keywordseo="DLF">DLF</keyword>'s total rental income will rise by 12 per cent to about Rs 2,900 crore this fiscal on better realisation from existing commercial assets and addition of new properties in Chennai and Delhi, according to a PTI news report. DLF, the country's largest real estate firm, earned a rental income of around Rs 2,600 crore last fiscal. The company informed analysts that total rental income will rise to Rs 2,900 crore in the 2017-18 fiscal. When contacted, DLF's Managing Director (Rental Buisness) Sriram <keyword id="900635" type="PERSON" weightage="20" keywordseo="Khattar">Khattar</keyword> said that the rentals will rise as the company has renewed its existing stock at a higher value after the expiry of 9-year leasing agreement with the occupiers. Moreover, he said, about one million sq ft area will gadded this fiscal in Chennai and the national capital. Given the quality of our office buildings and shopping malls as well as our focus on safety, compliance and sustainability, an overwhelming majority of our tenants renew their leases on term expiries at market rates," Khattar said. "In addition, about 8 lakh sq ft in Chennai and about 1.9 lakh sq ft in Chanakya Puri, Delhi will be the new assets that will add to the rental income," he said. In an analyst conference, DLF's group CFO Ashok Tyagi had said that the company's total income is expected at Rs 2,900 crore this fiscal. According to investors presentation, DLF's gross leasing stood at 4.03 million sq ft during the last fiscal. "Net leasing of 0.88 million sq ft post lease terminations/expiry of 3.15 msf during FY17." Unlike housing segment which is facing a huge slowdown in demand, the commercial real estate is doing well. In October 2015, DLF had announced that its promoters would sell their entire 40 per cent stake in <keyword id="2531590" type="COMPANY" weightage="20" keywordseo="DLF-Cyber-City-Developers-Ltd">DLF Cyber City Developers Ltd</keyword> (DCCDL), which holds the bulk of the commercial assets of the group. The promoters -- billionaire K P Singh and family -- had in March this year entered into an exclusivity pact with <keyword id="6357968" type="ORGANIZATION" weightage="20" keywordseo="GIC">GIC</keyword> for the deal, estimated at about Rs 13,000 crore. The promoters would invest a significant amount from this proposed transaction into <keyword id="102030" type="CITY" weightage="20" keywordseo="DLF-LTD">DLF Ltd</keyword>, which will use it for reduction of debt that has crossed Rs 25,000 crore. DLF expects an agreement with the GIC in the next few weeks and deal to be concluded by October this year after receiving regulatory and all other approvals. The company has about 30 million sq ft of commercial area and out of that, DCCDL holds about 22 million sq ft of commercial space.

DLF's total rental income to rise to Rs 2,900 crore this fiscal

New Delhi, Jan 17 () The National Company Law Appellate Tribunal (NCLAT) has directed leading real estate player DLF Ltd to register transfer of 60,000 shares to the legal heirs of one of its deceased shareholders and has imposed a cost of Rs 5 lakh for "harassing the poor investors".
A three-member bench observed that DLF insisted again and again for affidavit and indemnity bond in spite of having a Letter of Administration for succession, and the action by the real estate firm deserved penal action.
"We note that the appellant (DLF) is a listed company in real estate and is very well aware of legal formalities. By insisting affidavit and indemnity bond again and again, in spite of Letter of Administration issued clearly establish that the Appellants (DLF and Rajdhani Investments) are harassing the poor investors," said a three-member NCLAT bench.
It added: "The act of the appellants deserves some penal action. We also note that the respondents are entitled for 60,000 shares as per entitlement on payment of consideration."
The appellate tribunal order came over a petition filed by DLF and one of its promoters Rajdhani Investments &amp; Agencies, in which the real estate firm has challenged the order of the Chandigarh bench of the National Company Law Tribunal.
The NCLT had on December 11, 2018 directed to register to transfer 60,000 shares after payment of Rs 2 per share in the name of respondents - sons of its deceased shareholder in accordance with the terms of Letter of Administration issued by the District Judge. 
The NCLAT asked the respondents Satya Bhushan Kaura and Subhash Chander Kaura to make payment for transfer of membership within 15 days from the date of receipt of this order and directed DLF to transfer 60,000 shares within 30 days.
"Respondent will make payment of consideration to the appellant company within 15 days from the date of receipt of this order and he shall be entitled to the benefit of the membership from the date of payment," said the NCLAT adding "appellant company (DLF) will transfer/arrange for transfer 60,000 shares to the respondent within 30 days from the date of receipt of payment."
Moreover, the appellate tribunal also imposed a cost of Rs 5 lakh on DLF.
"A sum of Rs five lakh - costs is imposed on appellants to be deposited with National Defence Fund within 15 days from the date of this order," said the NCLAT adding "Proof of depositing the same will be submitted to the Registrar of this Appellate Tribunal within a week thereafter".
Proof of depositing the same will be submitted to the Registrar of NCLAT within a week thereafter, the order passed on January 13 said.
Late Devki Nandan Kaura, father of the respondents held 150 equity shares of Rs 10/- each of DLF, which were subsequently converted into 6,000 equity Shares of Rs 2 each after giving effect of split and bonus issue. He passed away in 1987.
On December 29, 2005 DLF came out with the Rights issue and the offer was available to all existing shareholders. Following this scheme, Kaura family was entitled for 60,000 shares on convertible debentures issued on right basis.
Following which they approached the company and sought transfer of 66,000 equity shares. 
However, it was denied by DLF contending that it was beyond the limitation period and contended that his legal heirs has not informed the company of his demise for about 20 years.
DLF had raised the issue of limitation and argued that convertible debentures on rights basis are not heritable. 
Moreover, as per its Red Hearing Prospectus, the outer limit for submission of the requisite documents was by the close of working hours of September 26, 2007 and no relaxation in the date was possible .
However, the respondents submitted before the appellate tribunal that when they approached DLF, it on August 6, 2007 DLF through a letter asked them to procure order from competent court in his favour for succession certificate/Letter of Administration and to execute Affidavit-cum-Indemnity Bond .
They complied DLF's instruction and applied for letter of administration with respect to their father's will and got a decree regarding it on April 25, 2012 and was submitted to DLF.
However, it was rejected by DLF, following which they moved to NCLT.
Rejecting DLF's submission, the NCLAT said DLF never informed the respondents that they have not approached them within the limitation period. KRH MKJ

NCLAT asks DLF to register transfer of shares to investor's legal heirs, imposes cost of Rs 5 lakh

Chennai, Jan 23 () India's largest realty firm DLF on Thursday announced an investment of Rs 5,000 crore to develop large commercial project here as part of its strategy to expand portfolio of rent yielding properties.
Tamil Nadu Chief Minister Thiru Edappadi Palaniswami laid the foundation stone of 'DLF Downtown' at Taramani in Chennai.
The 27 acre project will be developed by DLF's joint venture firm with GIC named DLF Cyber City Developers Ltd (DCCDL). The total commercial area, largely office spaces to be constructed under the new project, is 6.8 million sq ft in various phases.
"Tamil Nadu has always been a destination of choice for corporates and MNCs due to its talent pool and favourable business environment. We are investing Rs 5,000 crore in phases for developing our fourth project DLF Downtown, Taramani in Chennai," DLF CEO Mohit Gujral said.
DLF would commence construction of 2.5 million sq ft area in the first phase.
The project, to be completed in the next 5-6 years, would help additional 70,000 direct and 6,000 ancillary employment opportunities once operational.
"Chennai continues to strengthen its position as an IT/ITeS hub with increasing investment commitment from global companies, making it out second largest market after Gurugram," DLF MD (Rental Business) Sriram Khattar said.
With this project, he said, the company would now have a 14 million sq ft of development in Chennai.
"The company has identified a development pipeline of 20 million sq ft and a construction of 5.5 million sq ft is underway. This will augment our existing 35 million sq ft rental portfolio of office and retail properties," Khattar said.
The company plans to take the national commercial portfolio to over 50 million sq ft, he added.
DLF earns an annual rental income of over Rs 3,000 crore from its commercial properties that are located in Gurugram, Chennai, Hyderabad, Kolkata and Chandigarh.
Another 20 million sq ft commercial space is under development.
Unlike residential property market, commercial real estate, especially office market, is performing well. Office space leasing touched an all time high in 2019.
To monetise its commercial assets, DLF in December 2017 entered into a joint venture with Singapore sovereign fund GIC when DLF promoters sold their entire 40 per cent stake in DLF Cyber City Developers Ltd (DCCDL) for nearly Rs 12,000 crore.
This deal included sale of 33.34 per cent stake in the DCCDL to GIC for about Rs 9,000 crore and buyback of remaining shares worth about Rs 3,000 crore by DCCDL.
In DCCDL, DLF currently holds nearly 67 per cent stake, while GIC has the remaining stake.
DLF has so far developed 153 real estate projects comprising 331 million sq ft. It has a land bank of 192 million sq ft. MJH BAL

DLF to invest Rs 5,000 cr in new commercial proj in Chennai; TN CM lays foundation stone

Marred by the growing e-commerce sector and the constant decline in the footfalls, offline retailers are betting big on the concept of food courts to woo the consumers to their stores. Experts attributed it to the growing trend of eating out amongst Indian consumer. 
	 “Food and beverage (F&amp;B) and eating out as a concept in India has undergone a post liberalisation sea change – from once a month, the number of times young Indians and their families eat out has risen to as much as once or even twice a week,” said Shubhranshu Pani, regional director, retail services at <keyword id="484198" type="COMPANY" weightage="20" keywordseo="JLL-India">JLL India</keyword>.’ 
	 
	“Indians are also more amenable to experimenting with various cuisines and have developed ‘global palates’. On the heels of these changes in mid-set and demand, F&amp;B in malls is no longer restricted to fast food options but now also encompass fine foods and multi-cuisine options under a single roof,” he added. 
	 
	Food courts: The only saving grace? 
	 
	Developers believe that food courts are universal revenue generator and will continue to attract crowd even if a mall is doing badly. “For this reason, there is no likelihood of rentals for food courts increasing. Along with anchors, these represent the factor that brings in assured footfalls, and no mall owner would risk making food court occupancy less tenable and attractive by increasing rentals,” stated Pani. 
	 
	Besides, mall owners have been cautious with the allocation of space to food courts. It is often believed that a mall with a larger food court attracts higher footfall in the mall. 
	 
	“How food courts are positioned in malls depends on the format in question. Sometimes, entire floors are dedicated to food outlets because they are such big draws. In luxury malls, the accent on food is highly exclusive, subdued and status-oriented, so a food courtis less viable than a carefully calibrated selection of fine dining restaurants,” explained Pani. 
	 Similarly, Dinaz Madhukar, senior vice-president and mall head of <keyword id="89090" type="COMPANY" weightage="20" keywordseo="DLF-Promenade">DLF Promenade</keyword> and <keyword id="3939504" type="ORGANIZATION" weightage="20" keywordseo="DLF-Emporio">DLF Emporio</keyword>, noted that larger food courts drive better revenue as it can encompass a single customer as well as an entire family or group of patrons. “As a matter of fact, the conversion rates in the food courts are always high, since they generate multiple sales simultaneously,” she explained. 
	 
	Market reports have suggested that mall operators ideally allot 15% or higher mall space for food courts. Mall owners felt that food and entertainment will play a pivotal role in attracting consumers to a mall due to the pressure on retail because of the growing onslaught of online shopping. 
	 
	Promotes impulse shopping 
	 
	 
	Food courts are not only a revenue generator for mall operators, they are credited for pulling crowds to the retail outlets operating in a mall. According to Pani, food courts promote impulse shopping, thus converting footfalls into sales for the stores in the mall. 
	 
	“As such, they are often a primary reason for people to visit malls in the first place. Since they are usually on the top floor, customers are required to pass all floors below to access them. This increases the opportunities for impulse shopping,” he added. 
	 
	Pani also asserted that “Food courts also boost overall sales because they offer panoramic views of what is available at the lower levels, thereby raising aspirational levels. By virtue of being open format, a food court is able to meet entire families’ tastes simultaneously, with price points that are a draw for all categories of mall visitors.” 
	 
	Sharing a similar sentiment, Madhukar noted, “As a matter of fact, the conversion rates in the food courts are always high, since they generate multiple sales simultaneously. Besides this, the food courts give a panoramic view of the in-house brands and increases the habit of impulsive shopping among the patrons.” 
	 
	Alternative to standalone restaurants 
	 
	While standalone restaurants has its own charm, the convenience and cost factors give an edge to food courts in a mall. 
	 
	Pani explained that food is one of the major footfall drivers in a mall and food courts give customers and their families a plethora of cuisines to choose from under one roof. 
	 
	“Food court space is usually immediately absorbed in malls. Many visitors now see malls primarily as a repository of cost-effective multi-cuisine food and entertainment. In other words, food courts (along with multiplexes) represent a completely separate set of retail with its own dedicated clientele. The conversion rate in food courts is always extremely high, since they generate multiple sales simultaneously. This is not the case in conventional retail outlets,” he noted. 
	 
	The road ahead 
	 
	While the culture of eating out in food courts has been growing, industry experts still believed that India lacks the depth of F&amp;B operators and categories that is otherwise seen in other countries. 
	 
	“The quality of operators – and their ability to expand, given the crunch in funding and manpower - continues to be a challenge. The period between 2012-14 saw a boost in the funding environment, but Indian F&amp;B still has a long way to go but in terms of operation and management. Also, though the eating-out trend in India has grown, it has not yet matched the levels seen in South Asia, Europe and the US,” averred Pani. 
	 
	Apart from addressing manpower and credit availability issues, industry players explained that in order to continue making F&amp;B operators profitable in food courts, policy-level changes too are required.

Shopping malls turning to food courts to escape from
e-commerce onslaught

Urging the government to give greater freedom to regulatory bodies for efficient regulation of the industries, the <keyword id="97393" type="ORGANIZATION" weightage="20" keywordseo="Competition-Commission-of-India">Competition Commission of India</keyword> (<keyword id="47183" type="ORGANIZATION" weightage="20" keywordseo="CCI">CCI</keyword>) has said that continued interference by the state to protect vested interests of individuals and corporate has compromised the efficiency of the regulator. 
 “Continued interference by the state compromises the efficiency enhancement role of the regulator. For an independent regulator to deliver, state actors have to forbear. Intervention to promote public policy or redistribution objectives is to some extent ' understandable'. However, interference to protect vested interests is undesirable,” revealed Ashok Chawla, Chairman of CCI at an <keyword id="6355988" type="CITY" weightage="20" keywordseo="Assocham">ASSOCHAM</keyword> event. 
 
He emphasized that to maintain the efficiency of a regulatory body requires both political and judicial maturity. “We are slowly moving in that direction. But it cannot happen in a day". 
 
Addressing the issue of stringent actions taken by such bodies in recent times, Chawla noted that the country lacked a common regulatory philosophy, which would have cleared the confusion and maintained uniformity in the roles of the watchdogs. “Perhaps there is a need for a helicopter view of the regulatory structure and an over-arching legislation which brings about uniformity in design and structure to the extent necessary. There are perhaps one too many regulatory bodies, particularly in the financial sector”. 
 Catching him off-guard, KP Singh, the former president of the chamber and the current chairman of <keyword id="212898" type="COMPANY" weightage="20" keywordseo="DLF-Limited">DLF Limited</keyword> demanded that the government must come up with a law to hold regulators responsible for causing damage to the companies by passing judgments, which have serious repercussions on the company as well as its investors. “These regulators pass judgments and then go while companies suffer loss of reputation. By the time the aggrieved companies get justice, damage is already done to their reputation,” said Singh. 
 Last year, <keyword id="6355630" type="ORGANIZATION" weightage="20" keywordseo="Securities-and-Exchange-Board-of-India">Securities and Exchange Board of India</keyword> (<keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword>) had taken stringent actions against defaulting companies, and barred <keyword id="6354553" type="COMPANY" weightage="20" keywordseo="real-estate">real estate</keyword> major DLF from entering the capital markets for three years. At that time, industry body had raised the red flag and termed the punishment too harsh for the corporate. 
 
Image: official website of CCI

State Interference To Protect Vested Interests Hampers Regulator’s Role: CCI

1997 marked the ascent of Robert Vadra—that was the year when he became a part of the Gandhi family through his hushed-up marriage with <keyword id="12587" type="PERSON" weightage="60" keywordseo="Priyanka-Gandhi">Priyanka Gandhi</keyword>. Exactly 15 years later, 2012 marked the beginning of his possible downfall—the year when <keyword id="124047" type="PERSON" weightage="80" keywordseo="Ashok-Khemka">Ashok Khemka</keyword>, a senior Haryana IAS officer, kicked up a political storm by alleging irregularities in the land dealings between Vadra and <keyword id="6362997" type="CITY" weightage="80" keywordseo="DLF">DLF</keyword>, the country’s largest realtor by market capitalisation, in the state. Khemka’s accusation led to a cascade of media reports detailing his dubious property deals, including one by The Wall Street Journal, probes and negative campaign against the Gandhi family and the <keyword id="1575" type="ORGANIZATION" weightage="40" keywordseo="Congress">Congress</keyword> which is said to have augmented the fall of Congress, headed by Vadra’a mother-in-law Sonia Gandhi, in the last Lok Sabha elections. 
 
Vadra, born in 1969 to Rajendra and Maureen Vadra (whose family originally hailed from Scotland), has one among the crores of anonymous Delhiites till 1991 when Priyanka met him at a party arranged by Gandhi family’s Italian friends. His father Rajendra Vadra, who belonged to Moradabad in UP and whose family originally hailed from Pakistan (they moved to India at the time of partition), ran a business involving exports of brass and wood handicraft. Following his father’s footsteps, Robert Vadra—whose two siblings Richard and Michelle are no more (his sister Michelle died in a car accident in 2001, while brother Richard committed suicide in 2006)—was running a lesser-known costume jewellery export firm in Delhi when he met Priyanka. Their six-year-long courtship resulting in a cloistered marriage attended by hardly 150 guests opened a whole new chapter in Vadra’s life. 
 
Vadra, who is known to be a fan of dance and music, kept himself busy even since, dabbling between his diverse roles as Priyanka’s hubby, Congress president’s son-in-law, father of his children Raihan and Miraya and promoter of growing business interests. He also hogged the limelight in two other more intriguing avatars—as a fitness freak and a car and bike enthusiast. Vadra, who used to run a fitness bulletin on his Facebook page, boasts of working out hard to trim 20 kgs in five years. He gleefully owns Mercedes, BMW, Land Rover and Jaguar, besides his Rs 15 lakh 1800 cc cruise bike Suzuki Intruder. 
 
The string of events that sent him on a downward trail began in 2009, when he started buying tracts of arid agricultural land around Kolayat, a small town in Rajasthan. Soon after this, the central government announced plans to promote land-intensive solar-energy production for which the pieces of land Vadra purchase were suited, leading to a six-fold spike in the value of the land he bought within a few years. This was in addition to the realty assets he purchased in Haryana, including the deals between him and DLF which triggered Khemka’s allegations. According to The Wall Street Journal, as of the end of 2012 Vadra sold property worth more than $12 million and the value of realty assets he still possessed was about $42 million. 
 
During the run-up to the Lok Sabha elections Narendra Modi used every opportunity to take a dig at the Gandhi family by referring to Vadra’s questionable land deals. Now that Modi is in power and Congress’ fortunes are on a sharp downward spiral, Vadra has been winding up a clutch of his companies; six among them—Lifeline Agrotech, Greenwave Agro, Rightline Agriculture, Future Infra Agro, Best Seasons Agro and Primetime Agro—have already been dissolved or are getting dissolved. However, it is early to ascertain if a frantic attempt to shed firms and assets will help Vadra escape the scrutiny of law enforcement agencies, media and public, and turn around his fortunes; and in the process stop supplying ammunition to the acidic baiters of Sonia Gandhi and Congress.

The Curious Case Of Robert Vadra

<ul><li>Shriram Properties’ IPO opened subscription for investors on Wednesday and will close on December 10.</li><li>The company is looking to raise ₹600 crore through the public listing, out of which ₹250 crore is fresh issue and ₹350 crore is an offer for sale by promoters.</li><li>Shares of the company are demanding a premium of ₹20 in the grey market today.</li><li>Analysts have mixed views on whether to subscribe for the IPO or not after the company booked losses in the past two years due to COVID-19.</li></ul>Shriram Properties, part of the Shriram Group and one of the leading residential real estate development companies in south India, opened its initial public offering (IPO) today, December 8, and will close on December 10. The company primarily focuses on the mid-market and affordable housing segments. Bengaluru and Chennai are the key markets for the company, while it also operates in Coimbatore, Visakhapatnam, and Kolkata. Shriram Properties is well supported by marquee private equity investors like TPG, Tata Opportunities Fund, Walton Street Capital and Starwood, which cumulatively held 58.35% equity stake. Through this IPO, these investors are partially offloading their stake. Adding to it, the company has attracted multiple financial investments from investors like SUN Apollo Ventures, Mitsubishi Corporation, Amplus Capital Advisors, ASK Property Investment Advisors, Motilal Oswal and Kotak Private Equity Group in its projects. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shareholders selling shares </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Number of shares on sale </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Omega TC Sabre Holdings </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹90.9 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Capital Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8.34 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TPG Asia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹92.2 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">WSI/WSQI V (XXXII) Mauritius Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹133.4 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> The company plans to utilise some of the net proceeds from the IPO towards the company and its subsidiaries’ debt payments and some for general corporate purposes. Keeping aside the company's strong position in the southern part of the country and growth prospects, financial performance of the company has been disappointing. It has reported losses for two consecutive years because its business operations were impacted by COVID-19 induced lockdown and restrictions. <div type="image" title="shriram revenue" height="900" width="1200" msid="88167162" hostid="261"></div> Following this, the IPO has received mixed views from the brokerages suggesting whether to subscribe for the IPO or not. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerages </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not rated </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Canara Bank Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for listing gains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICIdirect </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Unrated </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> While the company has already suffered losses due to pandemic related restrictions, it may again get impacted as the new COVID variant cases are increasing day-by-day. “The COVID-19 pandemic may affect company’s business, results of operations and financial condition, in the future, in a number of ways which includes delays in the completion of construction of properties on account of the lockdown and work stoppages, affecting ability of customers to visit sales offices and undertake in-person discussions, inability to access capital on commercially acceptable terms and company’s ability to execute growth strategies and identify and complete acquisitions,” said analysts at ICICIdirect in a brokerage note. Ravi Singhal, vice chairman at GCL Securities said that, “Company is posting losses from the last two years and its revenue has reduced significantly since the 2019 level. These losses may extend further this year looking at the Omicron scenario. This company is part of the reputed Shriram Group, but that cannot be the only point to apply for this IPO. Clearly investors cannot apply for this IPO for listing gain; one may apply for long-term holding based on their risk appetite.” However, some analysts feel that the company’s leading position in the residential segment along with strong execution quality will take the company a long way. “Company is one of the leading residential real-estate developers in south India and focuses on mid-market and affordable housing categories. We believe that the company has a strong track record of delivering the project on time and can maintain strong execution which will get reflected in the pre-sales numbers going ahead. Hence, we are assigning a “SUBSCRIBE” recommendation to the Shriram Properties Limited IPO,” said Yash Gupta, equity research analyst at Angel One. Here is how Shriram Properties’ peers performed this year: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Peer companies </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Market cap </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% return in 2021 </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Macrotech Developers </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹69,722 crore </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">210.00% </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Indiabulls Real Estate </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹7,856 crore </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">113.00% </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sobha </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹8,225 crore </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">113.00% </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Brigade Enterprises </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹11,658 crore </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">103.00% </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Prestige Estates Projects </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹17,860 crore </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">67.00% </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">DLF </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹97,898 crore </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">65.00% </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Oberoi Realty </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹32,049 crore </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">49.00% </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Godrej Properties </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹23,601 crore </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">41.00% </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Kolte-Patil Developers </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹2,397 crore </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">29.00% </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sunteck Realty </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹6,593 crore </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">26.00% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/no-need-for-new-crypto-regulator-in-india-says-crosstower-ceo/articleshow/88165815.cms">INTERVIEW: 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Although Shriram Properties has solid future prospects, Omicron may mess things in the near term

Twitter received nearly 21 per cent more information requests for account information from the governments and law enforcement agencies worldwide in the July-December 2019 period compared to the previous reporting period. The micro-blogging platform that reimagined its biannual transparency report site into a comprehensive Twitter Transparency Centre said that the aggregate number of accounts specified in these requests increased by nearly 63 per cent. "The total volume of requests and specified accounts are respectively the largest we've seen to date since our transparency reporting began in 2012. We received government information requests from 91 different countries since 2012," it said in a statement late on Wednesday. Information requests from the US continue to make up the highest percentage of legal requests for account information. During this reporting period, 26 per cent of all global requests for account information originated within the US. The second highest volume of requests originate from Japan, comprising 22 per cent of global information requests. "We often receive non-government information requests to disclose account information of anonymous or pseudonymous Twitter accounts (requests to "unmask" the identity of the individual), which we frequently object to. Twitter objected to 23 US civil requests for account information that sought to unmask the identities of anonymous speakers on first amendment grounds during this reporting period. "We ended up litigating six of these requests. Twitter prevailed in four cases, lost one, and one is still pending. No information was produced in response to the other 17 requests". In this reporting period, Twitter received 27,538 legal demands to remove content specifying 98,595 accounts. This is the largest number of requests and specified accounts it received since releasing its first Transparency Report in 2012. "This record number of legal demands originated from 51 different countries. 86 per cent of the total global volume of legal demands originated from only three countries: Japan, Russia, and Turkey," Twitter said. The new Twitter Transparency Centre offers all disclosed data in one place and data visualizations, making it easier to compare trends over time. The Twitter archive of state-backed information operations is being used by researchers, journalists and experts around the world which now spans more than 9 terabytes of media, includes over 83,000 accounts, and over 200 million Tweets and is an industry-first resource. Twitter said it removed 86,799 unique accounts for promoting terrorism and violent extremism in the reporting period. Nearly 74 per cent of the unique accounts were proactively suspended using its internal, proprietary tools. There were 257,768 unique accounts suspended during this reporting period for violating Twitter policies prohibiting child sexual exploitation. "Hateful conduct expanded to include a new dehumanization policy on July 9, 2019. There was a 54 per cent increase in the number of accounts actioned for violations of our hateful conduct policy during this reporting period," Twitter informed. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/kepler-supernova-exploded-400-years-ago-but-hasnt-slowed-down-and-two-pieces-of-debris-are-headed-towards-earth/articleshow/77646381.cms">Kepler supernova exploded 400 years ago but hasn’t slowed down — and two pieces of debris are headed towards Earth</a> <a href="https://www.businessinsider.in/retail/news/heres-how-reliance-retail-stacks-up-against-some-of-its-global-peers-walmart-and-tesco/articleshow/77646302.cms">Here’s how Reliance Retail stacks up against some of its global peers – Walmart and Tesco</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-today-sbi-dlf-pnb-housing-yes-bank-ruchi-soya-titan-company-and-more/articleshow/77646162.cms">Top stocks to watch today— SBI, DLF, PNB Housing, Yes Bank, Ruchi Soya, Titan Company and more</a>

Twitter data shows a 21% increase in account information requests from governments

Transcendental Meditation, which Bridgewater's Ray Dalio calls 'the single biggest influence' on his life, is taking over Wall Street

<keyword id="1068264" type="PERSON" weightage="100" keywordseo="Wang-Jianlin">Wang Jianlin</keyword>, Chairman of China’s top real estate player-Dalian Wanda Group-, met Indian Prime Minister <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword> in New Delhi and expressed his desire to explore business opportunities in India. 
 
If everything goes fine, the Group will invest $10 billion in India in the next 10 years to construct industrial townships and retail properties. 
 
The Beijing-headquartered group, which had an annual income of $38.8 billion in 2014, has a presence in commercial property, tourism, e-Commerce and department stores. 
 
Now, it is looking to build five industrial parks, shopping malls and theme parks in India. Wang is ranked by Forbes as the world's ninth-richest person with a net worth of $40.4 billion. 
 During his China visit last month, Modi had pitched for <keyword id="2523471" type="UNKNOWN" weightage="100" keywordseo="Chinese-investment-in-India">Chinese investment in India</keyword> to bridge a widening trade gap. His visit saw deals worth $22 billion being signed. 
 
"To correct this trade imbalance, it was necessary that Chinese industry invests and manufactures in India instead of exporting its products to India. India needs to look at infrastructure financing from China," DIPP secretary Amitabh Kant said at a FICCI event. 
 
Economic Times reported that the government relaxed Foreign Direct Investment norms in the construction sector, easing a three-year lock-in period and other stringent conditions related to built-up area and minimum capitalisation to attract funding in the cash-starved sector. 
 
In meetings with officials from the Department of Industrial Policy &amp; Promotion, the Ministry of External Affairs and state governments, Wang was keen to know about incentives offered by states and the land acquisition process. He sought information on policies for commercial development and retail construction in Delhi, Haryana, Andhra Pradesh, Gujarat and Maharashtra. 
 
"His team wanted to know about the availability of land banks in these states for commercial and retail infrastructure construction. They also wanted to know about the specific investible projects available in states," a government official told ET. 
 
Though the group entered India through a deal with the Reliance Group in December 2012 to develop the Dhirubhai Ambani Knowledge Centre in Navi Mumbai, it is firming up plans to invest heavily here only now. 
 
Wang also met railway minister Suresh Prabhu, Haryana chief minister Manohar Lal Khattar and private developers. According to sources, Wang met officials of real estate developer DLF as well. The government allowed 100% FDI in railway infrastructure last year. 
 
(Image: PIB)

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