Latest news with #Babu
The Hindu
an hour ago
- Business
- The Hindu
State offers immense growth opportunities, says Minister Sridhar Babu
From emerging technologies, especially artificial intelligence, life sciences, renewable energy, logistics, food processing, aerospace, defence manufacturing to electric mobility, Telangana offers investment opportunities across sectors and industries, IT and Industries Minister D. Sridhar Babu said here on Thursday. The Minister, who was speaking at Investopia Global, said this inviting industrialists from the United Arab Emirates (UAE) to invest in the State. Telangana may be geographically small, but it is a State with grand ambition and lays emphasis on strong implementation. In a short span, it has risen like a phoenix and emerged as a model in development and welfare for other States, Mr. Babu said. In 2024–25, Telangana recorded a GSDP growth of 8.2%, which was higher than the national average of 7.6%. Telangana's contribution to the national GDP has exceeded 5%, the Minister's office said in a release on his address. He sought to highlight the growth potential in the backdrop of the State pursuing the goal of becoming a $3 trillion economy by 2047. In the last 18 months, the State attracted fresh investments worth ₹3.2 lakh crore. Investopia Global was jointly organised by the UAE and Telangana government. Setting up of dry ports, multimodal logistics parks, industrial corridors, net-zero industrial parks, EV zones, green logistics hubs, Regional Ring Road (RRR) and Metro Phase–2 are some of the projects that are expected to further boost industrial development in the State. The government is also set to develop Future City that will become a world hub for fintech, climate tech and smart mobility innovation. Mr. Sridhar Babu also cited the growth in data centres, global capability centres (GCCs), AI labs and aerospace clusters in the State. Investopia Global organisers said the programme seeks to advance UAE-India partnerships in sectors such as agri-tech, AI, defence and tourism in the backdrop of Comprehensive Economic Partnership Agreement UAE and India signed in 2021. Thursday's programme served as a platform for exploring strategic opportunities in research and development, manufacturing, and clinical innovation. The sessions touched on opportunities for cooperation in supporting entrepreneurship ecosystem and startups by relying on venture capital funding and the support provided by accelerators and incubators such as Hub71 and T-Hub.
New Indian Express
12 hours ago
- Automotive
- New Indian Express
KGF Babu coughs up Rs 40 lakh road tax for two Rolls-Royces
BENGALURU: Transport officials have collected nearly Rs 40 lakh in pending road tax from businessman and politician Yusuf Sharif aka KGF Babu, for plying two Maharashtra-registered luxury cars in Karnataka. Babu owns a Rolls-Royce Phantom and Rolls-Royce Ghost that he, officials said, bought from actors Amitabh Bachchan and Aamir Khan. A team led by Joint Commissioner of Transport Shobha went to Babu's house in Vasanth Nagar on Wednesday, and told him that he has to shell out nearly Rs 40 lakh, including penalty for late payment, for the two cars. 'For any vehicle registered outside Karnataka, the owner must pay road tax here if they are found operating the vehicle for more than a year. Babu has been using the vehicles for nearly two years. RTO officials collected enough evidence against Babu,' Shobha said. Officials said Babu initially claimed that he was not using the vehicles in Karnataka permanently, and they would be sent back to Maharashtra, but later paid the tax. 'One car had Rs 19.73 lakh in pending tax, while the other had Rs 18.53 lakh. He paid the tax and penalty for late payment for both vehicles at once,' Shobha said.
Hans India
12 hours ago
- Automotive
- Hans India
KGF Babu in trouble over celebrity cars purchased from Amitabh, Aamir
Bengaluru: Once a man who faced great hardships, KGF Babu is now a wealthy businessman with assets worth hundreds of crores. Known for his fascination with luxury cars, especially those previously owned by Bollywood celebrities, Babu has now run into legal trouble due to unpaid road taxes. According to reports, officials from the Regional Transport Office (RTO) conducted a surprise inspection at Rukhsana Palace, Babu's residence in Vasanthnagar, Bengaluru. The action was taken after it was found that he had not paid road taxes for several of his high-end vehicles. KGF Babu is said to own two Rolls-Royce cars, one of which was previously used by Amitabh Bachchan (MH 11 AX 1) and another by Aamir Khan (MH 02 BB 2), which the actor had used for just a year. These vehicles, registered in Maharashtra, had their lifetime tax paid in that state. However, Karnataka authorities are now demanding local tax payments for operating the vehicles within their jurisdiction. The RTO team, led by Joint Commissioner Shobha, had to face resistance when Babu reportedly refused to open the gate to his residence, causing the officials to wait outside for a considerable time. Responding to the incident, Babu stated, 'I'm ready to pay the tax. Both my vehicles are registered in Maharashtra, and lifetime tax has already been paid there. If the RTO wants me to pay Karnataka taxes too, I will. I'm a responsible citizen and won't evade taxes. If allowed, I will pay it immediately.' Later he made the payment to the RTO through a DD. In a further twist, RTO officials discovered that the luxury vehicles were displaying MLC (Member of Legislative Council) passes, reportedly issued in the name of MLC Nazeer Ahmed. These passes were seen on a Rolls-Royce and a Ford vehicle belonging to Babu. Once the media noticed the passes, they were hastily removed. This incident has raised serious questions about tax compliance and misuse of government-issued privileges, prompting further scrutiny from enforcement agencies.
Hans India
3 days ago
- Hans India
One held for committing financial frauds
Tirupati: The Government Railway Police (GRP) and Railway Protection Force (RPF) of Tirupati jointly arrested a fraudster on Sunday who had been cunningly deceiving train passengers by exploiting their trust and misusing their mobile phones for financial fraud. The accused, identified as Venu Babu from Ongole, was apprehended following a coordinated operation by the GRP and RPF teams. He had been targeting unsuspecting passengers by purchasing regular train tickets and blending in with fellow travellers. Through friendly and casual conversations during the journey, he would earn the trust of co-passengers before requesting their mobile phones under the pretext of needing to contact his relatives or friends. Once in possession of the victim's phone, Babu would covertly access mobile payment applications like PhonePe, Google Pay, and Paytm to transfer funds to bank accounts of his choice. The victims remained unaware of the fraudulent transactions until much later. During interrogation, Venu Babu confessed to a similar crime committed in October 2024 at Tirupati Railway Station, where he duped a passenger and fraudulently transferred Rs 87,000. Following diligent investigation, the authorities managed to recover the entire defrauded amount from the accused. Legal proceedings against him are currently underway. The GRP and RPF have urged passengers to remain cautious during train journeys. They specifically advised travellers not to hand over their mobile phones to strangers and to refrain from accepting food items or any goods from unknown individuals. Commending the swift action of the security forces, the Railway Department lauded the efforts of Dharmendra and Ramakrishna Reddy of the RPF, along with their teams, under the leadership of RPF Inspector Sandeep Kumar and GRP Inspector Aasirvadam.
Time of India
5 days ago
- Business
- Time of India
Sole searching: Who represents Kolhapuri slippers? Turf war breaks out
A turf war has broken out over the authority to represent the Geographical Indication (GI)-tagged Kolhapuri slippers, amid the Prada spotlight. While one party has proposed collaboration with the Italian luxury fashion house, the other has threatened legal action and demanded damages. After showcasing a Kolhapuri-inspired sandal without acknowledging the source, Prada later admitted its oversight. It discussed the matter with the Maharashtra Chamber of Commerce, Industry and Agriculture (MACCIA) and later, sent its supply chain team to India to explore a potential collaboration with local artisans. Explore courses from Top Institutes in Select a Course Category Operations Management MBA Finance Public Policy Degree Project Management healthcare Product Management Leadership Data Science Cybersecurity Data Science Artificial Intelligence PGDM Design Thinking MCA others Technology Data Analytics Others CXO Management Digital Marketing Healthcare Skills you'll gain: Quality Management & Lean Six Sigma Analytical Tools Supply Chain Management & Strategies Service Operations Management Duration: 10 Months IIM Lucknow IIML Executive Programme in Strategic Operations Management & Supply Chain Analytics Starts on Jan 27, 2024 Get Details However, the Karnataka government-backed Dr Babu Jagjivan Ram Leather Industries Development Corporation (LIDKAR) approached the corporation's legal adviser to take action against MACCIA, accusing it of overstepping its authority in dealing with Prada, according to a copy of the letter seen by ET. A legal notice will be sent on Monday to the trade body, according to a senior official. Strong Stance The Karnataka body, on July 1, also served a legal notice to Prada, seeking ?500 crore in damages for GI infringement and ordering the company to 'cease and desist' from marketing or selling the sandals. The notice warned that failure to comply would compel LIDKAR to initiate civil and criminal proceedings. ET has seen a copy of the notice. In its response on July 9, Prada stated it had 'not used the term 'Kolhapuri' or any associated GI markings in the naming, marketing, or presentation of its footwear.' The company concluded the note by saying it was in discussions with MACCIA and would be 'in a better position to respond more substantively following the outcome of the upcoming discussions with the chamber of commerce.' Live Events LIDKAR managing director KM Vasundhara said the body has also issued notice to the chamber 'for their unilateral and unauthorised actions concerning the GI rights.' The body's stance is clear, she said. 'Any discussions regarding GI-tagged Kolhapuri chappals must follow the legal framework and cannot be initiated independently by non-statutory bodies like MACCIA. Hence, legal recourse was taken to protect the interests of artisans and uphold GI laws.' This escalation is the latest in a series of confrontations between the trade chamber and the two GI tag holders— LIDKAR and Maharashtra's Sant Rohidas Leather Industries & Charmakar Development Corporation (LIDCOM). While MACCIA has taken the lead in engaging with Prada, including facilitating the brand's India visit, LIDKAR adopted the legal route. The chamber first wrote to Prada on June 25, setting the wheels in motion for the brand's visit to Kolhapur, where it toured production units and met with footwear artisans. But three days before MACCIA's virtual meeting with the international brand on July 11, the Karnataka body issued a notice, demanding it stop all negotiations and asserting MACCIA had 'no legal authority to represent, negotiate, or enter any agreement with Prada or any third party concerning Kolhapuri chappals, which are GI-protected under Indian law,' and for the chamber to 'refrain from all public and private negotiations, promotional activities, or discussions regarding Kolhapuri chappals,' according to a copy of the letter ET has seen. In its response on July 12, MACCIA proposed that both GI tag holders be 'formally introduced to the international brand as recognised producers and authorised stakeholders of the GI product,' and urged LIDKAR to reconsider its stance and 'join hands with MACCIA and the wider artisan community to collectively shape a framework that protects heritage while opening doors to responsible international engagement.' Prada's team has toured several local units with MACCIA president Lalit Gandhi—including one operated by LIDCOM—but senior officials from both GI tag holders were notably absent. Gandhi said the trade body's goal is 'empowerment of artisans and to get the market for Kolhapuri chappals at global level.' Prada is expected to provide its evaluation report internally and respond to the Maharashtra chamber next week.
