Latest news with #GauravGarg
Hindustan Times
2 days ago
- Politics
- Hindustan Times
Pitch(ed) battle between IRS officers: FIR lodged, counter-allegations emerge
LUCKNOW Allegations and counter-allegations emerged a day after two senior Indian Revenue Service (IRS) officers came to blows at the income tax office in Lucknow on Thursday. A lingering dispute over a departmental cricket match, which is said to have led to the physical altercation between the two, resulted in an FIR against joint commissioner Yogendra Kumar Mishra for allegedly assaulting deputy commissioner Gaurav Garg. However, no arrests were made so far in this case. Based on Garg's complaint, a case was registered against Mishra at the Hazratganj police station on Friday under sections 109(1) (attempt to murder), 121(2) (causing hurt to public servant), 221 (obstruction of duty), 324(3) (mischief), 352 (intentional insult) and 351(3) (criminal intimidation) of the BNS, along with relevant sections of the Prevention of Damage to Public Property Act, 1984, said DCP (central) Ashish Srivastava. However, Mishra took to social media platform X and claimed that he was being targeted for exposing irregularities in tax investigations carried out during his predecessor's tenure in Kanpur. 'I am forced to speak out publicly about the extreme harassment, character assassination and false police complaints being orchestrated against me. The facts must be known,' he wrote. 'Since 2022, after I succeeded Gaurav Garg, IRS, in Kanpur, I reported serious lapses in tax investigations during his tenure. This led to his animosity and a sustained vendetta against me. On February 13, 2025, minor dispute at a departmental cricket match was amicably resolved with apologies from all sides. Yet, months later, a distorted video of this settled incident was leaked by Gaurav Garg to malign my reputation. On March 29, this old video was circulated on Twitter by a journalist, who then attempted to blackmail me for ₹50,000. Evidence of this blackmail, including chat logs, has been submitted to authorities,' he added. On Thursday, the situation took an ugly turn when one officer allegedly slapped the other during a verbal duel. In retaliation, the latter allegedly picked up a glass tumbler and hurled it at the former, striking him on the head and face, which Mishra denied. 'The incident during an official meeting on May 29 has resulted in an FIR against joint commissioner Yogendra Kumar Mishra for allegedly assaulting deputy commissioner Gaurav Garg, a clash rooted in a months-old disagreement since a February cricket tournament,' said DCP (central) Ashish Srivastava. The complainant, Gaurav Garg, a 2016 batch IRS officer stationed at the income tax office in Narhi, Hazratganj, claimed that joint commissioner Yogendra Kumar Mishra, a 2014 batch IRS officer currently posted in Kashipur, Uttarakhand, forcibly entered a closed-door departmental meeting on May 29 and attacked him in front of senior officials. According to Garg's complaint, the conflict originated in February 2025, when Mishra, then based in Lucknow, allegedly demanded that he be made captain of the departmental cricket team for a tournament at BBD cricket ground. 'Mishra told everyone to make him play and also make him the captain. Due to his insistence, the matter reached the principal chief commissioner (PCC). It was decided by the PCC that those who played the quarter-finals will play the semi-finals and finals as well. On the day of the final match, Mishra lay down on the cricket pitch and started saying that if he is not made to play, he will not let the match happen. The PCC told him that if he did not move from the pitch, departmental action will be taken against him. Because the match was being organized officially, he caused hindrance in government work,' read the content of the FIR, a copy of which is with Hindustan Times. 'Mishra continued harassing team members over WhatsApp, issuing various threats,' alleged Garg in his complaint. Over a dozen complaints were reportedly filed, following which Mishra was transferred to Uttarakhand. However, on May 29, he allegedly stormed into the sixth-floor office where a farewell was being planned for the outgoing PCC. As per the FIR, Mishra allegedly used abusive language, accused officials of plotting against him, and demanded the cancellation of his transfer orders. He then allegedly threw water on Garg using a glass tumbler and tried to attack him with the broken glass. When Garg attempted to leave the room with his laptop, Mishra allegedly grabbed him from behind by the throat. 'I was gasping for breath and barely managed to free myself. He then punched me repeatedly, injuring my nose, lips ear and a front tooth. He even kicked me before others intervened,' Garg stated in the FIR. Mishra, however, stated: 'I did not entire incident is captured on CCTV cam and witnessed by multiple senior officers. Yet, a false counter-narrative is being spread online to portray me as the aggressor. I urge authorities to conduct a fair, evidence-based inquiry before entertaining any malicious or frivolous FIR against me,' 'Shockingly, on March 30, 2025, I was abruptly transferred from Lucknow based on the concocted video. The transfer order was circulated to the media before even being officially issued to me, a clear violation of protocol. On April 28, 2025, I filed an RTI seeking the official basis for my transfer. No response was provided by Garg, who is also the CPIO. My visit to CIT (Admin) on May 29, 2025, was to formally request this information where Garg verbally abused and physically assaulted me. He also hurled abuses at me,' he further wrote. Speaking to HT, Mishra claimed he never used a glass. 'It was my ring, which hurt Garg's face a bit... in self defence. I have mailed the complaint to the Lucknow Police, and it should be taken as a formal complaint,' he said. After the clash at the I-T office, the police were alerted via Dial 112, and Garg was rushed to the Civil Hospital, where he reportedly fainted due to blood loss and trauma. He remains under medical care. Asked if a cross-FIR will be lodged on Yogendra Mishra's complaint, DCP (central) Ashish Srivastava said: 'The person has not given any complaint to the police in person. How would the police ensure that the ID on social media, from which the complaint was filed, was genuine.' 'We are verifying medical reports, CCTV footage and statements of all present in the meeting,' said ACP (Hazratganj )Vikas Jaiswal. UP BJP chief Bhupendra Chaudhary visited Garg in the hospital. Speaking to media, he said: 'I came to check on his health. I don't see any political angle here.'
India Gazette
2 days ago
- India Gazette
Lucknow: FIR registered against Joint Commissioner Yogendra Mishra after fight with fellow IRS Officer
Lucknow (Uttar Pradesh) [India], May 30 (ANI): A police case was registered against Joint Commissioner of Income Tax Yogendra Mishra after a physical fight broke out between two Indian Revenue Service (IRS) officers in Lucknow on Thursday. The officials said the incident took place following an argument about an RTI (Right to Information) matter. The complaint was filed by Deputy Commissioner Gaurav Garg, who is also an IRS officer and the husband of IPS officer Raveena Tyagi. Based on his complaint, an FIR was registered at the Hazratganj police station. According to officials, the confrontation between the two officers escalated into a physical altercation, drawing attention within administrative circles. The fight took place during a heated exchange over the handling of an RTI issue. 'An FIR has been registered under relevant sections based on the complaint by IRS officer Gaurav Garg,' police said. Officials said that the matter is now being investigated and statements from witnesses and both officers will be recorded. Further details on the matter were still awaited. On May 28, wanted criminal Bhupendra Gwalah got injured in an encounter with Jhansi Police. He was shot at by police in an attempt to capture him. Superintendent of Police (SP) of Rural Jhansi, Arvind Kumar, said, 'He (criminal) was spotted on a motorcycle when the Moth police were conducting a check. As he saw the police, he fired at the police and ran towards the jungle.' The SP added that on investigation, the police got to know that Gwalah is a wanted criminal and there is also a case of theft against him at the Moth police station.'The encounter was conducted by the SSP, Moth station and SWAT,' SP Arvind Kumar told the police have recovered the stolen battery, a suspicious motorcycle without a number plate and a pistol along with cartridges from him. SP Kumar informed the media that the criminal had a Rs 25,000 award against him. He added, 'The interrogation and investigation of cases against him are going on.' On May 27, in a similar case in Uttar Pradesh, a wanted criminal involved in multiple cow slaughter cases was injured in a police encounter during a late-night checking operation in Uttar Pradesh's Amroha district, while another suspect managed to escape. (ANI)
The Print
3 days ago
- Politics
- The Print
UP: IRS officer injured after colleague attacks him at Income Tax Office in Lucknow
The officer, Gaurav Garg, was injured and was taken to the civil hospital for treatment. The nature of his injuries was yet to be officially confirmed, police said. The incident occurred around 3 pm at the Income Tax office in the Hazratganj area, they said. Lucknow, May 29 (PTI) An Indian Revenue Service (IRS) officer was injured after he was allegedly attacked by a colleague from the Income Tax Department during an argument at the office here on Thursday, police said. Deputy Commissioner of Police (Central Lucknow) Ashish Shrivastava said Garg informed the Hazratganj police station about the attack, following which local police arrived at the scene and facilitated his medical care. He is reported to be out of danger and further legal proceedings are underway, the DCP said. Meanwhile, Samajwadi Party president Akhilesh Yadav took a dig at the BJP-led state government over the incident. In a post on X in Hindi he said, 'Till now in the BJP government, it was police versus police, now it is officer versus officer. A case has come to light in Lucknow where an IRS officer was held hostage and beaten up by an income tax officer.' 'This should be investigated and it should be found out why such an incident happened with the husband of an IPS officer and who all are linked to it,' Yadav added. In the post he also referred to Garg's wife, Raveena Tyagi, who is an IPS officer posted in Lucknow. PTI KIS OZ SKY SKY This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Mint
3 days ago
- Business
- Mint
Prostarm Info Systems IPO Day 3 Live: Issue subscribed 12.65 times so far. Check GMP, key dates, more. Apply or not?
Prostarm Info Systems IPO Day 3 Live: The ₹ 168-crore initial public offering (IPO) of Prostarm Info Systems, a firm specializing in integrated power solutions, will end today (Thursday, May 29). Prostarm Info Systems IPO price band is set at ₹ 95-105 per share. The company provides a variety of integrated power solutions, focusing particularly on UPS systems, lithium-ion battery packs, and third-party power solutions, among others. It serves various sectors, including healthcare, aviation, research, BFSI, railways, defense, security, education, renewable energy, information technology, and oil & gas. Prostarm manufactures a range of power solution products under its own brand, including UPS systems, inverter systems, lift inverter systems, solar hybrid inverters, lithium-ion batteries, servo-controlled voltage stabilizers, and isolation transformers. The company has three manufacturing plants located in Maharashtra. During FY24, it served over 700 clients, among them Larsen & Toubro Ltd, Tata Power Co. Ltd, and Bajaj Finance Ltd. As per the red herring prospectus (RHP), the company's listed peers are Servotech Renewable Power System Ltd (with a P/E of 243), and Sungarner Energies Ltd (with a P/E of 55). From a financial perspective, the company achieved a revenue of ₹ 268.62 crore from operations and recorded a profit after tax (PAT) of ₹ 22.10 crore for the first nine months ending December 2024. For the fiscal year ending March 31, 2024, it reported a revenue of ₹ 257.87 crore and a PAT of ₹ 22.79 crore. Tentatively, Prostarm Info Systems IPO basis of allotment of shares will be finalised on Friday, May 30 and the company will initiate refunds on the same day, while the shares will be credited to the demat account of allottees on Monday, June 2. Prostarm Info Systems shares are likely to be listed on BSE and NSE on Tuesday, June 3. The initial public offer of Prostarm Info Systems IPO has been subscribed 12.65 times on the second day of subscription, as per BSE data. The initial share sale received bids for 14,17,03,220 shares against 1,12,00,000 shares on offer, according to BSE. The portion for retail investors received 13.04 times subscription while the quota for non-institutional investors subscribed 27.23 times to the issue. The qualified institutional buyers (QIBs) portion has been booked 1.03 times. On the first bidding day, Prostarm Info Systems IPO subscription status was 3.54 times. Gaurav Garg from Lemonn Markets Desk highlighted that Prostarm Info Systems Ltd presents an appealing opportunity for investors interested in India's growing power backup and clean energy sector. The firm boasts a solid financial history, a scalable business approach, a wide range of services, and impressive return ratios, all while having a valuation that seems appealing compared to competitors. Considering the optimistic outlook for the industry, its established operations, and fair pricing, we suggest investors with a medium to long-term perspective subscribe to the IPO. The company is well-positioned to take advantage of the structural advantages in energy storage and green energy solutions, supported by strong execution and an expanding customer base. According to Canara Bank Securities, Prostarm Info Systems Ltd's transition to comprehensive manufacturing, a broadened range of power solutions, and a solid presence among institutional investors position the company effectively in India's expanding market for energy storage and backup systems. Its alignment with the increasing demand for UPS systems, lithium-ion batteries, and solar hybrid inverters improves the potential for long-term growth. With a fair valuation at 14.72x P/E (9MFY25 annualized), the firm presents an appealing opportunity for investors. Although cash flow efficiency is a point of concern, we advise subscribing for those looking for long-term investment in the energy infrastructure and digital power solutions sector. Prostarm Info Systems IPO includes a fresh issue of 1.6 crore equity shares. The company plans to allocate ₹ 72.50 crore of the total IPO funds to meet its capital needs, ₹ 17.95 crore for debt repayment, while the remainder will be directed towards pursuing inorganic growth through as-yet-undefined acquisitions and other strategic initiatives, in addition to general corporate purposes. Choice Capital Advisors serves as the lead manager for the book, and Kfin Technologies Ltd is appointed as the registrar for the offering. Prostarm Info Systems IPO GMP today is +24. This indicates Prostarm Info Systems share price is trading at a premium of ₹ 24 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Prostarm Info Systems share price is indicated at ₹ 129 apiece, which is 22.86% higher than the IPO price of ₹ 105. Analysing the grey market activities from the last 10 sessions, the IPO GMP is showing an upward trend today and is anticipated to have a robust listing. The minimum GMP recorded is ₹ 0.00, whereas the maximum GMP reaches ₹ 25.00, as per insights from experts. 'Grey market premium' indicates investors' readiness to pay more than the issue price. 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.
Time of India
4 days ago
- Business
- Time of India
The Leela IPO cruises through on final day of bidding, QIBs drive highest subscription. Check details
The Leela IPO: The initial public offering (IPO) of Schloss Bangalore Limited, the operator of The Leela Palaces, Hotels & Resorts, sailed through on the final day of the issue with a subscription of 1.35 times. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Leela GMP Should you subscribe to The Leela IPO? SBI Securities Bajaj Broking Tired of too many ads? Remove Ads Lemonn Markets Desk The Leela IPO key dates The initial public offering (IPO) of Schloss Bangalore Limited, the operator of The Leela Palaces, Hotels & Resorts, sailed through on the final day of the issue with a subscription of 1.35 1:15 pm today, the highest subscription was witnessed by the qualified institutional buyers (QIBs) at 2.32 times. Meanwhile, the quota reserved for the retail investors and non-institutional investors (NIIs) continued to lag, attracting a subscription of 21% and 16% of its public issue, Schloss Bangalore Limited raised Rs 1,575 crore from 47 leading domestic and global anchor investors, with shares allotted at the upper end of the price band at Rs 435 company allocated over 3.62 crore equity shares to these investors, including 1.42 crore shares distributed among nine domestic mutual funds spanning 20 schemes. Notable global investors participating in the anchor round include Goldman Sachs, Fidelity, and Société Géné Rs 3,500 crore IPO consists of a fresh issue worth Rs 2,500 crore and an offer for sale (OFS) amounting to Rs 1,000 Bangalore shares are trading at a grey market premium of just 0.23%, or Re 1, in the unlisted market ahead of their is what brokerage firms have to say about the issue:The company is valued at an FY25 EV/EBITDA multiple of 26.3x at post-issue capital of the upper price band. The company's Revenue/EBITDA has grown at a CAGR of 23%/25% respectively over the last 2 years, while on a net basis, the business has turned profitable in company's presence in the luxury space offers high growth opportunities as the luxury segment within the hospitality sector is likely to grow at a higher pace. The company will repay its debt from the IPO proceeds, which will result in lower D/E from the current 1.1x and improved Broking recommends subscribing to the issue for a long a revenue rise and EBITDA growth to Rs 600 crore in FY24, Schloss posted a net loss of Rs 2.13 crore for the year and an additional Rs 36.4 crore loss in the first two months of negative EPS (Rs –0.12) and net asset value (Rs –160.57) make standard valuation ratios like P/E and RoNW irrelevant or company's valuation appears steep compared to profitable peers like Indian Hotels and EIH, despite its strong brand and asset-light model. Investors are advised to approach the IPO with caution, as it is more of a brand-led growth bet than one backed by current Gaurav Garg of Lemonn Markets Desk said that Schloss Bangalore IPO is a long-term bet on the formalization and premiumization of India's travel and hospitality sector. Investors with a patient outlook and appetite for high-quality consumption plays should consider subscribing to the issue.'As the company deleverages and executes its expansion plans, shareholders may be well-positioned to benefit from compounding gains in a high-margin business,' he initial public offering (IPO) of Schloss Bangalore Limited opened for subscription on May 26 and closes today at 5 pm. The allotment of shares is expected on May 29, with the company's stock market debut scheduled for June 2.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
