Latest news with #Kejriwal
Indian Express
7 hours ago
- Politics
- Indian Express
Kejriwal arrives in Gujarat on 2-day visit, Mann accompanies him
Accusing the ruling BJP of becoming 'extremely arrogant' having been elected to power for three decades in Gujarat, Aam Aadmi Party (AAP) national convener Arvind Kejriwal on Tuesday said that he, along with Punjab Chief Minister Bhagwant Mann, would meet the people of Gujarat to 'have a dialogue' with them. Kejriwal and Mann, who arrived in Vadodara on Tuesday evening, received a grand welcome at the airport by AAP leaders, including party's Gujarat chief Isudan Gadhvi, Visavadar MLA Gopal Italia, Vadodara unit leaders Ashok Ojha and Viren Rami. Speaking to media persons upon arriving in the state for a two-day visit, Kejriwal trained guns at the BJP for 'suppressing and repressing' the milk producers in the state as well as the tribals. Referring to the July 14 incident of violent clashes between cattle rearers and the police outside Sabar Dairy in Sabarkantha district, Kejriwal said, 'The BJP has been in power in Gujarat for 30 years and their heightened arrogance and corruption have led to such incidents where innocent cattle rearers protesting for their rights were lathicharged and oppressed, resulting in the death of one farmer in the violence.' Kejriwal also spoke about the recent arrest of AAP MLA Chaitar Vasava, who has been lodged in the Vadodara Central Jail since July 6 in an alleged case of attempt to murder of a local BJP leader in Dediapada, who is the complainant in the case. Kejriwal said, 'Chaitar has been fighting for the cause of the tribals and therefore, the BJP continues to file cases against him and find reasons to keep him behind the bars… Both Bhagwant Mann and I will visit Modasa to speak to farmers and then to Dediapada to speak to tribals about their issues,' Mann and Kejriwal will stay in Vadodara on Tuesday night before heading to Modasa on Wednesday to participate in a Kisan Sammelan. On Thursday, they will address a tribal gathering in Dediapada in Narmada district. AAP leaders, meanwhile, said that Kejriwal and Mann might also try to meet Vasava in the prison later on Thursday.
Economic Times
16 hours ago
- Business
- Economic Times
How Tilaknagar industries' name came up in Andhra liquor scam
Tilaknagar Industries, a notable player in India's alcohol industry, found itself in the limelight for all the wrong reasons after the Andhra Pradesh filed its chargesheet in the keenly-watched liquor scam in the state. Tilaknagar was named in the case along with a number of other industry peers, all of which have been implicated in alleged cases of various sharp practices and kickbacks related to liquor trade. ADVERTISEMENT The Andhra case is reminiscent of the Delhi liquor scam case that played a major role in bringing the Kejriwal government down. The chargesheet on the alleged Rs 3,500 crore scam mentions former chief minister YS Jagan Mohan Reddy as one of the recipients of the kickbacks. However, the 305-page document didn't directly name him as an accused. The Special Investigation Team (SIT) probing the alleged liquor scam has arrested YSRCP Lok Sabha member PV Midhun Reddy on July 21, after grilling him for police alleged that the key accused brought out the new liquor policy during the previous YSRCP regime with an "underlying intent of having full control over the supply and sale of liquor". This helped them achieve their goal of earning commissions/kickbacks between 2019 till 2024, they to the chargesheet, Tilaknagar Industries paid an estimated Rs 218 crore to a syndicate as kickbacks "based on the quantity and price pushed through Andhra Pradesh State Beverages Corporation Limited (APSBCL)". These kickbacks were allegedly paid in return for an income of about Rs 1,472 crore that the company earned from APSBCL, it said. ADVERTISEMENT The Andhra Police chargesheet has sought to link a number of "suspicious" transactions to the company. The money, which the chargesheet says was received from APSBCL, was alledgedly converted to "untraceable liquid cash" through four jewellery investigators have accused Tilaknagar Industries of misusing its position and influence in the Andhra state alcohol body in order to push its business interests, eventually securing a major sales boost. ADVERTISEMENT In order to retain this competitive edge, the chargesheet says, Tilaknagar routed some part of its legitimate revenue to some jewellery merchants. The gold received in return for these funds was systematically passed on to the syndicate."This gave the transactions a veneer of legal GST-compliant business expense, while effectively converting white banked money into untraceable black assets," the chargesheet adds. ADVERTISEMENT Shares of Tilaknagar Industries, the maker of the Mansion House brandy and whisky and Blue Lagoon gin, defied the negative publicity to register sharp spikes on July 21 and 22. At around 1 pm on July 22, the stock was trading at over Rs 454, a 7+ per cent jump over the previous day. (You can now subscribe to our Economic Times WhatsApp channel)
Mint
17 hours ago
- Business
- Mint
From Discipline to Purpose: Manish Kejriwal on Building Kedaara Capital
'From greed to giving'—that's how Manish Kejriwal describes his evolution with money. The Founder and Managing Partner of Kedaara Capital joined Mint's Neil Borate on the Let's Mint Money podcast to share candid reflections on disciplined investing, building one of India's leading private equity firms, and embracing simplicity in personal finance. Watch the full episode below, Early Experience with Debt Shaped His Approach Kejriwal spoke openly about a tough period early in his career when he faced personal financial liability after signing guarantees for his family's business interests. He described this episode as deeply formative. 'Because of that experience, I developed a very strong bias against personal debt,' he said. 'Even when we finally bought a house in 2013—almost 20 years after I started working—it was with no mortgage. That philosophy of avoiding personal guarantees and keeping things simple has stayed with me throughout.' Learning the Art of Investing at Temasek After starting at McKinsey, Kejriwal joined Temasek to help establish its India office—an experience he credits with teaching him how to invest. 'I learned the art of investing there,' he said. 'We had an incredible seven or eight years. I hired every person there from the janitor to the investment team.' He also cited Temasek's then-CEO Ho Ching as a major influence. 'I haven't seen anyone smarter or more strategic,' he said. 'She gave me the opportunity to set up their first office outside Singapore.' Founding Kedaara Capital After Temasek, Kejriwal co-founded Kedaara Capital. He said the idea of starting his own firm was compelling but came with significant risk. 'As a consultant you think bankers make a lot of money. As a banker you think PE guys make a lot of money. The ultimate nirvana is starting your own firm—but that involves a hell of a lot of risk,' he said. He also described the challenge of launching the firm. 'Raising the first fund is the toughest thing to do. It took us almost 2.5 years to raise about $540 million,' he said. Focus on Control and Discipline Kedaara Capital is known for its disciplined approach, favouring control-oriented, late-stage private equity investments over venture capital. 'Retail investors put alternatives in one bucket, but alternatives are very complex,' he explained. 'A good PE guy doesn't necessarily make a good VC.' He contrasted PE's steady, cash-flow-based strategy with VC's higher-risk, higher-failure-rate model. 'We do boring manufacturing, bricks-and-mortar businesses. We expect each return to give us between 3x to 5x over four to five years, with 25–35% IRR,' he said. 'VCs need to take much more risk and expect flameouts.' Simplicity in Personal Spending Kejriwal described how his relationship with money evolved over time. 'In the earlier part of my career, making money was very important,' he admitted. 'But about 15 years ago, something switched. I stopped caring about things like which car I showed up in.' He shared examples of his more minimalist approach today. 'We used to have a Maybach—it's sitting in the garage. Now I drive an MG. My son calls me the Uniqlo dad because all my clothes are Uniqlo.' Fees, Alignment, and Manager Selection Kejriwal also discussed his approach to public market investing, emphasizing cost-consciousness and alignment. He supported the advisory model of wealth management. 'It has to be, for me, pure advisory fees. Any model which involves a commission on stuff sold, is frankly, for me, a panacea for the industry.' 'I'm very sensitive to gross and net,' he said. 'If I'm paying a fee—whether it's management or performance—the alpha has to exceed that. Otherwise, it's not worth taking.' He said he prefers ETFs for their low cost until he finds a manager he trusts. 'I believe in the power of compounding. Till I find a good manager, I keep money in ETFs,' he said. Disclaimer: Lets Mint Money is a Mint editorial IP, in association with Waterfield Advisors. The series will see Neil Borate explore the personal finance perspectives of India's accomplished corporate professionals, entrepreneurs, and family business owners. Stay tuned for future episodes! To know more about Waterfield, visit
News18
2 days ago
- Politics
- News18
Will Brahmins Form Bedrock Of Support For Prashant Kishor In Bihar?
Last Updated: To be fair to Kishor, despite being born a Brahmin, he has not explicitly positioned Jan Suraaj as a Brahmin-centric party. As poll fever gradually grips Bihar, political parties are gearing up for the campaign. The main rivals, the National Democratic Alliance (NDA) comprising the Bharatiya Janata Party (BJP), Janata Dal (United) (JDU), and some minor partners, and the INDI Alliance, primarily made up of the Rashtriya Janata Dal (RJD) and the Congress with a few minor players, are in the process of preparing their strategies. Meanwhile, the newcomer Jan Suraaj Party is already pushing ahead with full vigour. Prashant Kishor, a notable poll manager turned politician and Jan Suraaj Party's founder is often compared to Arvind Kejriwal of Delhi politics, even though he dislikes the comparison. This label has stuck due to his intense criticism of 'failed political leadership,' a tactic Kejriwal used effectively to gain power. Although our constitution aims to create a casteless society, Indian politics remains dominated by caste. A progressive leader with broad societal appeal still needs a caste or community vote base to survive in India's political landscape. A prime example is former Delhi Chief Minister and Aam Aadmi Party (AAP) founder Arvind Kejriwal. Kejriwal initially rose to prominence on an anti-corruption movement, but he managed to stay in power for almost 12 years with the support of the Bania caste, to which he belongs and which comprises six percent of Delhi's voters. While the Banias voted for the BJP in the 2014 and 2019 Lok Sabha elections, they shifted their support to Kejriwal in the 2015 and 2020 Delhi assembly polls. The Aam Aadmi Party could be removed from power in the 2025 assembly elections only if the Banias shift their support to the BJP. Prashant Kishor, who personally handled AAP's campaign and management during the 2020 polls and remotely controlled the 2025 polls through his company, understands this dynamic well. As Jan Suraaj's leader in Bihar, Kishor emphasises moving beyond caste-based politics, focusing instead on governance, education, and employment. However, in a state where caste dynamics are deeply rooted, his upper-caste background, which he may not publicly acknowledge, limits his appeal among backward and marginalised communities. Rival parties emphasise his caste to consolidate their support bases, further complicating this perception. To be fair to Kishor, despite being born a Brahmin, he has not explicitly positioned Jan Suraaj as a Brahmin-centric party. Instead, he aims to build a broad-based coalition that transcends traditional caste alignments. This approach includes fielding candidates from diverse backgrounds, including Muslims, to appeal to a wider electorate. However, given the caste dynamics in Bihar's politics, Kishor the strategist knows he needs a caste vote base to launch his party and gain broader support. This initial support in Bihar could best come from his own community in the post-Mandal era. One of the after-effects of Mandal politics in Bihar has been the marginalisation of Brahmins. Once a dominant community in Bihar politics, Brahmins, who provided five chief ministers to the state before the Mandal era, have lost prominence in all political parties. Given that Prashant Kishor is a Brahmin, the community might agree to be his party's vote foundation or continue supporting the BJP-JD (U) at the state level and candidates from their community from other parties at the local level. The Brahmin community in Bihar is at a crossroads. While their affiliation with parties like the BJP and JD(U) has provided a semblance of political inclusion, the promise of greater representation and development offered by Jan Suraaj presents a compelling alternative. They understand they have little space in the opposition alliance, where a recent statement by an RJD MLA indicated that Brahmins in politics today are on the back foot. Brahmins in Bihar constitute about 4 percent of the population, with three major sub-castes: Maithil, Kanyakubj-Saryupari, and Shakaldweepi. Maithils are predominantly in the north of Bihar, Kanyakubj are mainly in south Bihar and the Bhojpuri-speaking districts of north Bihar bordering Uttar Pradesh, while Shakaldweepi are fewer in number but spread across most districts with a major concentration in the Magadh region. There may be some smaller sub-castes as well. In a largely 'lawless' state like Bihar, the Brahmins' support for the BJP and JD(U) has provided them with a sense of security, albeit with limited representation. Shifting allegiance to a nascent party like Jan Suraaj would require assurance of tangible benefits and representation. Kishor's focus on development and governance could resonate with Brahmins seeking a return to political relevance. His emphasis on systemic issues rather than caste-based mobilisation offers an alternative narrative that might attract educated and urban Brahmins disillusioned with traditional politics. However, elections in Bihar are won more in its villages than in its towns and cities. According to the caste census, 89 percent of Bihar's population is rural. Only time will tell whether the Brahmin community will become the bedrock of Jan Suraaj's support or continue their allegiance to established political entities. The writer is author and president, Centre for Reforms, Development & Justice. Views expressed in the above piece are personal and solely those of the author. They do not necessarily reflect News18's views. Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
5 days ago
- Politics
- Time of India
'Officially, AAP is not in INDIA bloc anymore': Sanjay Singh says alliance was only till Lok Sabha polls; to raise ‘bulldozer politics' in Parliament
AAP MP Sanjay Singh announced that the Aam Aadmi Party is no longer part of the INDIA alliance after the Lok Sabha elections. The party will focus on raising issues like the demolition of homes and shops of people from Bihar, UP, and Purvanchal in Delhi during the upcoming Parliament session. NEW DELHI: Aam Aadmi Party (AAP) is no longer part of the INDIA alliance post the Lok Sabha elections, party MP Sanjay Singh said on Wednesday. AAP and Congress had contested the 2024 Lok Sabha elections together in Delhi under the INDIA bloc. However, the two parties went solo in both the Haryana and Delhi assembly polls. Speaking to ANI, Singh said, "We have clarified our position that the INDIA alliance was there till the Lok Sabha elections. As far as the Parliament is concerned, we have always been opposing all the wrong policies of the government." You Can Also Check: Delhi AQI | Weather in Delhi | Bank Holidays in Delhi | Public Holidays in Delhi He added, "Currently, the issue for us is the way the homes and shops of people of Bihar, UP and Purvanchal are being bulldozed and destroyed. This is the issue we will raise in Parliament in the context of Delhi." Singh further said, "We said that officially, the Aam Aadmi Party is not with the INDIA alliance as of today. Our alliance was for the Lok Sabha elections..." He added that the party will highlight the alleged demolition of slums in Delhi during the upcoming Monsoon Session of Parliament, which is scheduled from July 21 to August 21. Earlier, AAP National Convenor Arvind Kejriwal had hit out at the BJP-led government in Delhi over the alleged razing of slums, accusing it of rendering the poor homeless. Addressing party workers at a protest rally at Jantar Mantar, Kejriwal said, "In such heat, at 50°C, they are demolishing the slums of poor people, making them helpless, making them stay on the roads... The poor man works near his slum... If the slum is destroyed, their livelihood also gets ruined." Kejriwal linked the demolitions to BJP's intent, which he had flagged during the election campaign. "Before the elections, I released a video saying that you should not vote for them (BJP), even by mistake, because their eyes are on your land. If you vote for them, they will demolish your slums within a year," he said. He added, "I had said they would demolish it in a year, but they have already destroyed Delhi in just 5 months... They have run the bulldozers and ruined Delhi." Sunday's protest at Jantar Mantar was led by Kejriwal, former deputy CM Manish Sisodia and Delhi state president Saurabh Bharadwaj.
