Debangana Ghosh

Investigations are the bedrock of journalism at The Indian Express. Our latest investigation by Aiswarya Raj and Dheeraj Mishra uncovers how a showpiece tourism project in Uttarakhand — 142 acres of prime land at the George Everest Estate near Mussoorie, with pathways, a helipad, huts, cafés, museums and an observatory — was awarded through a tender process that raises serious red flags. Records show that all three companies that bid for the contract, including the winner, are controlled by the same man: Acharya Balkrishna, co-founder of Patanjali and aide to Baba Ramdev. His stake? 99.85%, 99.98% and 69.43% in the three firms. The tender violates the mandatory anti-collusion undertaking. Yet the state government insists “process was followed.” This is what investigative reporting looks like: going beyond the official version, scrutinising records, and asking the tough questions. Link to investigation in comments

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PE funds are shifting towards EV components, charging and financing ecosystems, Aalok Shah speaks with The Economic Times . "Expecting more carve-outs and listings to unlock value," says Vikas Sehgal reports Shally Seth Mohile Rothschild & Co The Carlyle Group Highway Industries Limited Roop Automotives Limited Bain Capital Dhoot Transmission Pvt. Ltd. https://lnkd.in/dYtjcUw4

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Two good corporate stories in Mint today. 1. BluSmart’s bankruptcy case has run into a maze—the court-appointed resolution professional says the electric taxi operator’s most valuable assets, its cars and technology, are locked in subsidiaries outside the insolvency process, making it harder to get a fair valuation for creditors. By Ayaan Kartik https://lnkd.in/gDpfr87H 2. India’s midsize information technology outsourcers, having grown faster than their larger peers for two consecutive years, are now publicly stating that India’s top tech service providers are losing their mojo. Coforge Ltd, Mphasis Ltd, Persistent Systems Ltd, and Firstsource Solutions Ltd have also stated that they are better poised for growth against larger IT services companies, including Tata Consultancy Services Ltd, Infosys Ltd, HCL Technologies Ltd, Wipro Ltd, and Tech Mahindra Ltd. By Jas Bardia https://lnkd.in/gpM5yzbh

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NPS (All Citizens) is not even the size of many MF schemes. Why is it failing? For starters, NPS was made accessible to the general public through the so-called All Citizens model. But the response has been sub-par.😶 After 16 years of launch, it has less than Rs 77,000 in AUM. That's less than the AUM some MF schemes manage. So why has the govt failed to attract voluntary NPS? Here's why: 🌊 1) Broken distribution model PoPs can charge up to ₹400 for account opening and 0.5% on fresh contributions (capped at ₹25,000/year), but unlike MF distributors, they earn nothing from AUM. If a pension agent sources clients, PoPs must share their already meagre revenue. Selling MFs or life insurance annuities is far more rewarding. Retirement advisers (the RIA equivalent for NPS) have also failed to gain traction. They can charge only up to ₹1,000/year in advisory fees. 2) Losing the natural pull (Culprit: New tax regime) In the old regime, NPS is eligible for an overall Rs 1.5 lakh deduction under the old tax regime. Under Section 80CCD(1B), another Rs 50,000 is eligible for deductions if put in NPS. NPS used to sell like hot cakes due to the 80CCD (1B) benefit. That changed when the new tax regime was introduced, and many people shifted there. A whopping 72% of taxpayers opted for the new tax regime last year. It will only go up. The only tax break under the new regime is for the employer's contribution. (That part of NPS is doing well) Harsh Roongta told me that nowhere in the world are retirement products sold without some compulsion or tax benefit.🌎 It'll be interesting to see what the new PFRDA chairman does to increase NPS adoption in the non-government segment. Read: https://lnkd.in/gn38ZME8

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