Latest news with #GautamAdani-owned
Hindustan Times
3 days ago
- Business
- Hindustan Times
Dharavi redevpt: State tweaks norms for use of Kurla dairy land
MUMBAI: A year after allotting 8.5 hectares (21 acres) of the state-owned Mother Dairy plot in Kurla for rehousing residents of Dharavi who will not be eligible for in-situ housing once the slum goes in for redevelopment, the state government has granted several relaxations to the Special Purpose Vehicle (SPV) -- comprising government of Maharashtra's Dharavi Redevelopment Project (DRP) and the Gautam Adani-owned Navbharat Mega Developers Pvt. Ltd (NMDPL), formed in January 2024 to transform Dharavi -- to utilize the plot. The decision was taken in the state cabinet meeting on Tuesday. The major reliefs include allowing transfer of development rights (TDR) on the land in lieu of constructing housing for slum-dwellers following the provisions of 33 (10) (A) of Development Control and Promotion Regulations (DCPR) 2034, permission to develop commercial components and their sale in the open market, said people in the know. On June 14, 2024, the state government approved the transfer of the dairy plot for the project. The land was granted by charging only 25 percent of the ready reckoner rates on grounds that it was of vital public importance. The plot was granted under Occupancy Class II category of Maharashtra Land Revenue Code, which gives conditional ownership to the occupant – which means the occupant cannot sell the land or sub-lease to a third party. The plot however can be segmented and amalgamated by seeking prior permission from the state government. These conditions have now been relaxed, revealed insiders. 'The state government has made all the provisions under 33(10)(A) of the DCPR 2034 applicable to the plot,' a senior official told Hindustan Times. 'It has also allowed the SPV to load TDR on the plot and construct commercial components there for sale,' he added. 'To facilitate the implementation of the project, the terms and conditions in the earlier resolution (issued on June 14, 2024) and the draft agreement by the Mumbai suburban district collector have been approved for alignment with the policies of the housing and urban development department. This will help maximize the availability of housing for the rehabilitation of Dharavi residents,' stated a release issued by the chief ministers' office (CMO) on Tuesday. 'Around 8.5 lakh families will be rehabilitated under the redevelopment project, of them, 5 lakh eligible families will be rehabilitated within Dharavi itself. Additional land is required to rehabilitate the remaining 3.5 lakh families. The availability of land in Kurla will help make this process easier and more feasible,' it stated further. Dharavi spans 620 acres, of which 296 acres have been earmarked for redevelopment.
The Hindu
24-05-2025
- Politics
- The Hindu
Kozhikode DCC seeks judicial probe into ‘lapses' in NH construction
The Kozhikode District Congress Committee (DCC) has sought a judicial probe into the alleged lapses and contractual violations in the construction of the national highway in the district. DCC president K. Praveenkumar told the media on Saturday (May 24) that the Gautam Adani-owned company that won the contract for widening the 40.8-km stretch of the national highway from Azhiyur to Vengalam for ₹1,838.1 crore had sub-contracted it for ₹971 crore to another company. The Congress leader claimed that the Adani-owned company made ₹900 crore through the deal. He alleged that the national highway development had become a platform for generating profits for the Adani group. People were scared to travel on the newly built roads. The one constructed near Kunniyoramala in Koyilandy was on the verge of collapse. Cracks were noticed on the road at Thiruvangoor and Vengalam. Mr. Praveenkumar alleged that road development had become a symbol of corruption and loot. He demanded that cases be registered against contractors for lapses. The Congress would stage a protest outside the local office of the National Highways Authority of India (NHAI) at 10 a.m. on May 28 in support of this demand. Meanwhile, Mr. Praveenkumar said his party would approach the Kerala High Court against the alleged unscientific delimitation of local body wards in the district. He said tea shops were marked as boundaries of some wards, while avoiding natural boundaries. Some other wards had been merged in violation of the Panchayati Raj Act. This was evident in places such as Vanimel, Nadapuram, Maniyoor, and Thurayoor, he added.
Business Times
22-05-2025
- Business
- Business Times
Adani Ports gets about US$150 million loan from DBS
[MUMBAI] Adani Ports & Special Economic Zone raised about US$150 million through a bilateral loan agreement with DBS Group Holdings, according to people familiar with the matter, as the Indian conglomerate continues to restore lender confidence. The proceeds of the four-year dollar loan will be used for capital expenditure, the people said, asking not be identified because the information is private. The facility has been priced at about 200 basis points above the benchmark Secured Overnight Financing Rate, they said. The all-in-price, including the hedging cost, is about 5.5 per cent, one of the person said. DBS declined to comment. An Adani Group representative did not offer any immediate comments on the transaction. Billionaire Gautam Adani-owned conglomerate, with interests stretching from ports to green energy, is steadily regaining creditor confidence following a US Department of Justice indicted Adani over an alleged bribery plot in November. The bilateral loan is the group's first from a global bank since the indictment, one of the person said. Last month, the group raised about US$750 million through an offshore private placement bond to fund an acquisition of a construction firm. BlackRock subscribed to about a third of the issuance. Separately, the conglomerate is in talks with foreign banks including Barclays, First Abu Dhabi Bank and Standard Chartered Bank for a US$750 million loan for its airport unit. Representatives for Adani and his companies recently met US administration officials to discuss potentially dismissing criminal charges levied against him in the bribery probe, Bloomberg reported earlier this month. BLOOMBERG
Time of India
22-05-2025
- Business
- Time of India
Adani Ports gets about $150 million loan from DBS for capex
Adani Ports & Special Economic Zone Ltd. raised about $150 million through a bilateral loan agreement with DBS Group Holdings Ltd., according to people familiar with the matter, as the Indian conglomerate continues to restore lender confidence. The proceeds of the four-year dollar loan will be used for capital expenditure , the people said, asking not be identified because the information is private. The facility has been priced at about 200 basis points above the benchmark Secured Overnight Financing Rate, they said. The all-in-price, including the hedging cost, is about 5.5%, one of the person said. DBS declined to comment. An Adani Group representative did not offer any immediate comments on the transaction. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Has Honda Done It Again? The New Honda CR-V is Finally Here. TheFactualist Undo Billionaire Gautam Adani-owned conglomerate, with interests stretching from ports to green energy, is steadily regaining creditor confidence following a US Department of Justice indicted Adani over an alleged bribery plot in November. The bilateral loan is the group's first from a global bank since the indictment, one of the person said. Last month, the group raised about $750 million through an offshore private placement bond to fund an acquisition of a construction firm. BlackRock Inc. subscribed to about a third of the issuance. Separately, the conglomerate is in talks with foreign banks including Barclays Plc, First Abu Dhabi Bank PJSC and Standard Chartered Bank Plc for a $750 million loan for its airport unit. Live Events Representatives for Adani and his companies recently met US administration officials to discuss potentially dismissing criminal charges levied against him in the bribery probe, Bloomberg reported earlier this month.
Saudi Gazette
06-02-2025
- Business
- Saudi Gazette
Indian media pile into lawsuit against OpenAI chatbot ChatGPT
NEW DLEHI — India's biggest news organizations are seeking to join a lawsuit against OpenAI, the US startup behind ChatGPT, for alleged unauthorised use of their news organizations include some of India's oldest publications like The Indian Express, The Hindu, The India Today group, billionaire Gautam Adani-owned NDTV, and over a dozen denies the allegations and told the BBC that it uses "publicly available data" that are in line with "widely accepted legal precedents".On Wednesday, OpenAI CEO Sam Altman was in Delhi to discuss India's plan for a low-cost AI ecosystem with IT Minister Ashwini said India "should be one of the leaders of the AI revolution" and said earlier comments from 2023, when he said Indian firms would struggle to compete, had been taken out of context."India is an incredibly important market for AI in general and for OpenAI in particular," local media quoted him as saying at the legal case filed against OpenAI in November by Asian News International (ANI), India's largest news agency, is the first of its kind in accuses ChatGPT of using its copyrighted material illegally — which OpenAI denies — and is seeking damages of 20m rupees ($230,000; £185,000).The case holds significance for ChatGPT given its plans to expand in the country. According to a survey, India already has the largest user base of like ChatGPT are trained on massive datasets collected by crawling through the internet. The content produced by nearly 450 news channels and 17,000 newspapers in India holds huge potential for is, however, no clarity on what material ChatGPT can legally collect and use for this is facing at least a dozen lawsuits across the world filed by publishers, artists and news organizations, who have all accused ChatGPT of using their content without most prominent of them was filed by The New York Times in December 2023, in which the newspaper demanded "billions of dollars" in damages from OpenAI and Microsoft, its backer."A decision by any court would also hold some persuasive value for other similar cases around the world," says Vibhav Mithal, a lawyer specialising in artificial intelligence at the Indian law firm Anand and said the verdict in the lawsuit filed by ANI could "define how these AI models will operate in the future" and "what copyrighted news content can be used to train AI generative models [like ChatGPT]".A court ruling in ANI's favor could spark further legal cases as well as opening the possibility of AI companies entering into license sharing agreements with content creators, which some companies have already started doing."But a ruling in OpenAI's favour will lead to more freedom to use copyrighted protected data to train AI models," he provides news to its paying subscribers and owns exclusive copyright over a large archive of text, images and its suit filed in the Delhi High Court, ANI says that OpenAI used its content to train ChatGPT without permission. ANI has argued that this led to the chatbot getting better and has profited news agency said that before filing the suit, it had told OpenAI its content was being used unlawfully and offered to grant the company a license to use its says OpenAI declined the offer and put the news agency on an internal blocklist so that its data is no longer collected. It also asked ANI to disable certain web crawlers to ensure that its content was not picked up by news agency says that despite these measures, ChatGPT picks up its content from websites of its subscribers. This has enriched OpenAI "unjustly", it also says in its suit that the chatbot produces its content verbatim for certain prompts. In some instances, ANI says, ChatGPT has falsely attributed statements to the news agency, hampering its credibility and misleading the from seeking compensation for damages, ANI has asked the court to direct OpenAI to stop storing and using its its response, OpenAI says it opposes the case being filed in India since the company and its servers are not located in the country and the chatbot has also not been trained December, the Federation of Indian Publishers, which claims to represent 80% of Indian publishers including the Indian offices of Penguin Random House and Oxford University Press, filed an application in court saying that they were "directly affected" by this case and should be allowed to present their arguments as well.A month later, Digital News Publishers Association (DNPA), which represents leading Indian news outlets, and three other media outlets filed a similar application. They argued that while OpenAI had entered into licensing agreements with international news publishers such as the Associated Press and Financial Times, a similar model had not been followed in told the court the case would affect the livelihood of journalists and the country's entire news industry. OpenAI has, however, argued that chatbots are not a "substitute" for news subscriptions and are not used for such court has not admitted these applications by the publishers yet and OpenAI has argued that the court should not hear the judge clarified that even if these associations are allowed to argue, the court will restrict itself to ANI's claims since the other parties had not filed their own OpenAI told the BBC it is engaging in "constructive partnerships and conversations" with news organizations around the world, including India, to "work collaboratively".Analysts say the lawsuits filed against ChatGPT across the world could bring into focus aspects of chatbots that have escaped scrutiny so Sivaramakrishnan R Guruvayur, whose research focuses on responsible use of artificial intelligence, says that the data used to train chatbots is one such ANI-OpenAI case will lead the court "to evaluate the data sources" of chatbots, he across the world have been grappling with how to regulate AI. In 2023, Italy blocked ChatGPT saying that the chatbot's mass collection and storage of personal data raised privacy European Union approved a law to regulate AI last Indian government too has indicated plans to regulate AI. Before the 2024 election, the government issued an advisory that AI tools that were "under-testing" or "unreliable" should get government permission before launching. It also asked AI tools to not generate responses that are illegal in India or "threaten the integrity of the electoral process". — BBC
