RCB Owners' Statement On Reports Of IPL Franchise's Sale: 'Like To Clarify...'
Last Updated:
RCB's owners denied selling the IPL franchise.
Royal Challengers Bengaluru's (RCB) owners, British distillery Diageo Plc through its Indian subsidiary, United Spirits Ltd., issued a statement after social media was abuzz with reports of sale of part or all of the Indian Premier League (IPL) franchise
'This has reference to your email communication dated 10th June 2025 seeking clarification from the Company on media reports in relation to potential stake sale of RCB. The Company would like to clarify that aforesaid media reports are speculative in nature and it is not pursuing any such discussions," United Spirits told the Bombay Stock Exchange and BSE Surveillance Department.
Tragedy struck last Wednesday when approximately 2.5 lakh fans gathered in and around the Chinnaswamy Stadium in Bengaluru to catch a glimpse of their favourite stars, leading to a stampede that resulted in 11 fatalities and 56 injuries.
Following the incident, A. Shankar and E.S. Jairam resigned from their positions as secretary and treasurer of the Karnataka State Cricket Association (KSCA), respectively, taking 'moral responsibility" for the tragedy. Meanwhile, Nikhil Sosale, marketing head of Royal Challengers Bangalore, was arrested on June 6.
Former Indian Premier League (IPL) chairman Lalit Modi has strongly criticised the RCB franchise and the Karnataka state government for the tragic stampede.
'First and foremost, my condolences to the families of those who lost their lives in the stampede. This should never have happened. The entire event was poorly planned and executed," Modi told IANS.
'There is so much mudslinging and finger-pointing going on, but the issue is simple — the event should never have been allowed without proper arrangements in place. The authorities failed, and the team management should also have ensured fan safety before participating in the so-called celebrations."
Modi criticised the event further, saying, 'The poor fans who died or were injured were simply passionate about the game and their team. They deserved better. This tragedy will haunt the RCB franchise and the players involved in the celebrations forever. Mark my words — even one death or injury is unacceptable. Heads must roll."
He emphasised the need for accountability and prioritising fan safety, adding, 'The value of life and well-being of fans must be paramount. But sadly, it seems no one really cares. The government should have done far more to ensure the event was organised safely. We've seen major events across India handled successfully — why not this one?"
(With inputs from Agencies)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
11 minutes ago
- Hindustan Times
Meghalaya honeymoon horror mirrors Bengaluru's 2003 techie murder. Here's why it feels familiar
A young man's brutal murder during his honeymoon in Meghalaya has shocked the country, not just for its gruesome details, but also for how strikingly it mirrors one of Bengaluru's most chilling crimes from over two decades ago. Raja Raghuvanshi, who had recently tied the knot, was allegedly killed by his wife, Sonam, during what was supposed to be a celebratory trip to the Northeast. Days after his decomposing body was recovered from a gorge near a waterfall in Meghalaya's Sohra region, Sonam surrendered to the police in Uttar Pradesh. Investigators say the murder was premeditated and possibly carried out with the help of hired killers, a plot similar to Bengaluru's infamous 2003 'Ring Road Murder' case. (Also Read: Meghalaya murder: Who is Jitendra Raghuvanshi? New twist in Raja Raghuvanshi case unfolds) According to a report by NDTV, in 2003, Bengaluru was rocked by the murder of BV Girish, a 27-year-old software engineer engaged to law student Shubha Shankaranarayan. Girish was attacked near the HAL airport just three days after their engagement, after Shubha convinced him to take her to watch planes land and take off. Though she initially played the part of a grieving fiancée, Shubha's inconsistencies and call records eventually unraveled the truth, she was in a relationship with her college junior, Arun Verma, and had plotted Girish's murder with his help. It was one of the earliest Indian criminal cases to rely heavily on mobile location and call data as key evidence, the report further added. Both Shubha and Arun were convicted and sentenced to life imprisonment, along with two accomplices. Raja and Sonam had travelled there for their honeymoon but went missing soon after. A massive search operation led to the discovery of Raja's body, and suspicion quickly turned towards Sonam. Police claim they were already tracking her involvement when she surrendered in Uttar Pradesh. According to investigators, Sonam is believed to have orchestrated the murder with the help of contract killers. While the motive is still being investigated, reports suggest she may have had an affair with a man named Raj Kushwaha, who has also been arrested along with other suspected conspirators. (With agency inputs) (Also Read: Why Sonam Raghuvanshi left her 'mangalsutra' at Meghalaya homestay before Raja Raghuvanshi's murder)
Mint
16 minutes ago
- Mint
Penny stock below Re 1 jumps 10% despite selling pressure in Indian stock market
Stock Market Today: Penny stock below Re 1 gained 10% in the morning trades on Thursday despite selling pressure in Indian stock market. Check details of developments around Enbee Trade & Finance Ltd. ENBEE Trade and Finance on Wednesday, post market hours announced forming a strategic Alliance with Sunrise FinServe Pvt Ltd to Boost Loan Disbursement Efficiency. The Partnership as per Enbee Trade is to enhance financial inclusion and streamline loan processing across Maharashtra and Gujarat. Through this partnership, ENBEE will strengthen its lending procedures by utilizing Sunrise FinServe's extensive industry knowledge, strong distribution network, and cutting-edge customer acquisition skills. The partnership aims to increase credit availability for underprivileged and semi-urban populations, expedite application processing, and maximize turnaround times. The management of ENBEE Trade and Finance Ltd, commented, "We are excited to partner with Sunrise FinServe Pvt Ltd to accelerate our growth in the retail lending space. This alliance is not just a step towards operational efficiency but also a strategic move to enhance financial inclusion. By leveraging Sunrise's experience and digital reach, we aim to provide quicker, more accessible financial services to a broader customer base, especially in key markets like Maharashtra and Gujarat." ENBEE Trade and Finance Ltd. recorded total revenue of Rs. 19.73 crore for the fiscal year that ended on March 31, 2025. This represents a significant increase from Rs. 10.25 crore in FY 2023-24, or more than a 92% year-over-year growth. The company's net profit for FY25 was Rs. 4.95 crore, up over 217% year over year from FY24's Rs. 1.56 crore. The company's consolidated net profit for the fourth quarter, which concluded on March 31, 2025, was Rs. 1.64 crore, a 76% year-over-year increase over the net profit of Rs. 0.93 crore in Q4 FY24. These outcomes as per company highlight ENBEE's firm growth plan, careful financial execution, and strong operational momentum, Penny stock below Re 1 Enbee Trade & Finance- share price movement Penny stock below Re 1 Enbee Trade & Finance share price opened at Re 0.79 on the BSE on Thursday. The Enbee Trade & Finance share price was up close to 10% over the previous days closing price of Re 0.72 .Penny stock below Re 1 Enbee Trade & Finance there after continued to trade at similar levels as the level of 0.79 was also the upper price band and hence Penny stock below Re 1 Enbee Trade & Finance was locked in the upper circuit Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
&w=3840&q=100)
First Post
17 minutes ago
- First Post
Make-in-India Rafale fuselage: A strategic move forward
Rafale fuselage will be produced in India for both domestic and global markets. This marks the first time in history that Rafale fuselages will be manufactured outside France read more In a big boost to Make-in-India, Dassault Aviation of France and India's Tata Advanced Systems Limited (TASL) will partner for Rafale aircraft fuselage manufacturing at a dedicated facility in Hyderabad. The key structural sections of the aircraft, to be manufactured in India include the central fuselage, rear section, lateral rear shells, and the front section. The first fuselage sections are expected to roll out by FY2028, with a production capacity of up to two complete fuselages per month. STORY CONTINUES BELOW THIS AD Rafale fuselage will be produced in India for both domestic and global markets. This marks the first time in history that Rafale fuselages will be manufactured outside France. Four Production Transfer Agreements (PTA) have been signed between the companies. Eric Trappier, Chairman and CEO of Dassault Aviation, emphasised that this partnership is a 'decisive step in strengthening our supply chain in India,' noting that it aligns with the company's long-term strategy to collaborate with Indian aerospace firms like TASL. Sukaran Singh, CEO and MD of TASL, described the partnership as a milestone in India's aerospace journey, demonstrating both India's manufacturing prowess and the trust international aerospace leaders place in Indian partners. 'The production of the complete Rafale fuselage in India underscores the deepening trust in Tata Advanced Systems' capabilities and the strength of our collaboration with Dassault Aviation. It also reflects the remarkable progress India has made in establishing a modern, robust aerospace manufacturing ecosystem that can support global platforms,' Singh said. This facility will represent a significant investment in India's aerospace infrastructure and will serve as a critical hub for high-precision manufacturing. The Indian Air Force (IAF) has already acquired 36 Rafale and they have demonstrated their combat skills in the recent Operation Sindoor. The Indian Navy is procuring 26 maritime variants of Rafale-M. The IAF's case for 114 Multi-Role Fighter Aircraft (MRFA) procurement is in an advanced stage. Rafale is one of the contenders. Will these two developments tilt the case in favour of Rafale? IAF transition from Mirage 2000 to Rafale was like from one dream machine to another. In the initial training for test pilots, one is taught to assess an aircraft's characteristics by just looking at it. One look at the wing-body blending, the shape of the intakes, the twist in the wing, the incline of fuselage, the size of the vertical stabilizer, the base of the wheels, all indicate great design features. France has made some great aircraft. STORY CONTINUES BELOW THIS AD Initial Aviation's French Connect After WW-II, aviation designer Marcel Dassault re-established the aviation industry. The M.D.450 (Marcel Dassault) Ouragan was the first French-designed jet fighter-bomber to enter production. The Ouragan was later operated by France, Israel, India and El Salvador. In June 1953, India ordered 71 Ouragans (Toofani). Finally 104 were bought, and were operated by IAF till 1965. The IAF started to replace the Ouragan gradually by the Dassault Mystère IVA in 1957. India procured 104 'supersonic-in-a-dive' Mystere. The aircraft were used extensively in the Indo-Pakistani War of 1965. On 7 September 1965 an Indian Mystere, piloted by Squadron Leader Devayya shot down a Pakistani Lockheed F-104 Starfighter in a raid over Sargoda. Mystère IVs were also very successful in surface strikes. The aircraft were phased out by 1973. Hindustan Aeronautics Limited (HAL), licence-built versions of French Aérospatiale SA 315B Lama (designated Cheetah) and Aérospatiale Alouette III (designated Chetak) in the mid-1960s. Indian Navy procured 14 French Bréguet Br.1050 Alizé in 1960 for carrier operations. French Turbomeca TM 333 2B2 engine powered initial HAL Dhruv, later replaced by the Shakti engine, which was jointly developed by HAL and Turbomeca. TM 333 2M2 powers HAL Cheetal and Chetan, upgraded versions of the Cheetah and Chetak, respectively. STORY CONTINUES BELOW THIS AD India bought the Anglo-French SEPECAT Jaguar deep penetration strike aircraft (DPSA) in late 1970s, but the contract was serviced by the British. IAF built and upgraded many Jaguars and continues to fly significant numbers even today. Finally, IAF bought the Mirage 2000 that was inducted in 1984. It was the first relaxed stability fly-by-wire aircraft with active controls technology to induct in IAF. It also brought a modern Air Interception (AI) radar with look-down/shoot-down capabilities, and the first BVR missile, the Super R530, Later the all-aspect Magic 2 missile changed the dynamics of close combat. IAF also got the first comprehensive EW suite on any aircraft with a self-protection jammer, RWR, chaff and flare dispenser, an escort jammer and an Elint Pod. The aircraft was later upgraded to the Mirage 2000-5 Mk 2 standards, and extended its useful life for another 20–25 years. The upgrade included a new mission computer with higher memory, new radar, advanced navigation and electronic warfare systems, advanced communication and identification systems. It also has a new glass cockpit, and helmet-mounted displays. STORY CONTINUES BELOW THIS AD Re-designated Mirage 2000I, aircraft also got the MICA air-to-air missiles. It can also carry the Israeli Spice-2000 glide bomb and the indigenous Astra AAM. Mirage 2000 performed exceedingly well in the 1999 Kargil conflict, which took place over some of the highest terrain in the world. Easy maintenance and a very high sortie rate made the Mirage 2000 one of the most efficient fighters of the IAF. Later Mirage was the chosen platform for the Balakot Strike, and took active part in Operation Sindoor. Rafale, the Winner of MMRCA Competition IAF needed additional medium multi-role combat aircraft (MMRCA). The aircraft in the fray for this Indian tender were Lockheed Martin F-16C/D, Mikoyan MiG-35, Saab JAS 39 Gripen, Dassault Rafale, Eurofighter Typhoon, and the Boeing F/A-18E/F Super Hornet. The 126 aircraft were to fill the gap between the Light Combat Aircraft (LCA) and the in-service Sukhoi Su-30MKI air superiority fighter. On 27 April 2011, after an intensive and detailed technical evaluation by the IAF, two fighters, the Typhoon and Rafale, cleared technical evaluation. On 31 January 2012 it was announced that Rafale won the competition due to its lower life-cycle cost. STORY CONTINUES BELOW THIS AD The Rafale Aircraft The French twin-engine delta-wing fighter aircraft is an omni-role fighter with frontal-stealth capabilities. It can simultaneously undertake air supremacy, interdiction, reconnaissance, and the airborne nuclear deterrent missions. Rafale was inducted in the French Air Force and for carrier-based operations in the French Navy in 2000. Rafale has been used in combat over Afghanistan, Libya, Mali, Iraq, Syria, and in Operation Sindoor. The aircraft uses digital fly-by-wire controls and has a very high level of agility. The aircraft's canards improve aerodynamic performance. The Rafale's glass cockpit was designed around the principle of data fusion that prioritises information display to pilots. The primary flight controls are arranged in a hands-on-throttle-and-stick (HOTAS)-compatible configuration. The Rafale also features an advanced avionics suite. The passive front-sector electro-optical system can operate both in the visible and infrared wavelengths. The total value of the radar, electronic communications and self-protection equipment is about 30 percent of the cost of the entire aircraft. The Rafale features an integrated electronic survival system named SPECTRA, which protects the aircraft against airborne and ground threats. STORY CONTINUES BELOW THIS AD The system incorporates radar warning receiver, laser-warning, Missile Approach Warning (MAW) for threat detection plus a phased array radar jammer and a decoy dispenser for threat countering. Areos all-weather, night-and-day-capable reconnaissance system used on the Rafale has the ability to transmit information such as images in real-time to ground stations. The RBE2 AA active electronically scanned array (AESA) radar has a range of 200 km. The 36 aircraft, €7.87 billion (Rs 58,891 crore), Government-to-Government (G2G), Rafale deal included 28 single-seat, and eight twin-seat aircraft. The deal included tailor-made IAF specific enhancements including the integration of an Israeli helmet-mounted display (HMD), radar warning receivers and low-band jammers. It included a weapons package and a performance-based logistics agreement. The aircraft's 14 hard-points can carry 9,500 kg external load. The air-to-air missiles include Matra Magic II, MBDA MICA IR or EM, and MBDA Meteor. Meteor is an active radar guided BVRAAM that offers multi-shot capability against long range manoeuvring jets, UAVs and cruise missiles in a heavy electronic countermeasures (ECM) environment with range of around 180 kilometres. The no-escape zone of over 60 km is the largest among air-to-air missiles according to the manufacturer. STORY CONTINUES BELOW THIS AD India also procured SCALP air-to-ground cruise missiles. Subsequently, the HAMMER (highly agile modular munition extended range) glide bomb was bought. The Indian Rafale is a modified version of the F3R standard. The two squadrons are located at two different air bases. Both these airbases have infrastructure and capacity for an additional squadron each. French has already tested the F4 variant with upgraded radar, improved HMDS, OSF (long-range optoelectronics system) will add IRST for detecting and identifying airborne stealth targets at long range. It will be more effective in network-centric warfare, with more data exchange and satellite communication capacity. Make-in-India Rafale Win-Win for India, France Indian Navy has just ordered 26 Rafale-M, French Air and Space Force and Navy have combined orders for 286. Other operators with confirmed orders are IAF (36) Croatia (12), Egypt (54), Qatar (36), UAE (50), Indonesia (42), and Serbia (12). More orders are on the way. The current production rate is 25 aircraft a year. It will take nearly 10 years to meet existing orders. France desperately needs another production in India will be for all global customers. India's capability to make global class aero-structures has been proven with cabins of Apache AH-64, Sikorsky S-92 helicopter and Lockheed Martin C-130J Super Hercules aircraft. India also makes Lockheed Martin F-16 wings. India makes the entire indigenous Light Combat Aircraft (LCA). Making the Rafale fuselage in India will work out much cheaper for France. Induct 114 Rafale: Best Way Ahead Traditionally India and France have been enjoying an exceptionally warm relationship, which is the fruit of deep affinities and the unwavering trust between the two countries since India's independence. France is considered as the most reliable Western 'friend'. France has never imposed any sanctions or tried to arm-twist India. IAF regularly carries out Garuda series of air exercises with the French Air Force since 2003. The latest 'Garuda VII' was held at Jodhpur in November 2022. French air and Space Force (FASF) also participated in IAF multilateral exercise 'Tarang Shakti' in August-September 24. IAF is already down to 30 fighter squadrons' vis-à-vis the authorised 42. India has a two-front war threat. IAF urgently needs more fighter squadrons. The Request for Proposal (RfP) for 114 new 'Make-in-India' is still to be sent out. A full-fledged selection process could take 6-8 years. Rafale is a tried and tested aircraft. India has already paid for one time India specific enhancements. We have spare capacity at existing IAF Rafale bases to take more squadrons. There is 95 per cent commonality between the IAF and Navy Rafale. Most recent aircraft deals have all been G2G. Rafale has already been a winner of a contest in which similar competing aircraft were involved. India already has a large variety of fighter fleets. Multiple fleets are a logistical nightmare. To save time, it would be prudent to acquire 114 Rafale 4.5 generation aircraft. Initially, India would mostly make the fuselage airframe. As we go along, more sub-parts and components will be manufactured. If India chooses to make 114 Rafale for IAF, the order numbers along with the Navy would go up to 140. India could thus insist on making the entire aircraft in India. India could also tie-up with France's Safran for India's fighter aero-engine development. It will make better economic sense for IAF also to choose Rafale and acquire the latest variant F4 in a G2G deal and make it in India in larger numbers to amortise costs. The writer is former Director General, Centre for Air Power Studies. Views expressed in the above piece are personal and solely those of the author. They do not necessarily reflect Firstpost's views.
