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manish-sisodia-pti14-1677420024
As CBI Gets 5-Day Custody Of Sisodia, AAP's Political Journey In Tatters
The arrest of Delhi’s Deputy CM Manish Sisodia in the multi-crore excise scam was inevitable though it has sent shock waves in political circles. With the CBI getting his five-day custody, Sisodia’s detention and questioning in various aspects of the excise policy for 2021-22, which the probe agency found suffered from irregularities both in its formulation and implementation, is bound to embarrass the AAP leadership. The CBI had found that profit margins of liquor wholesalers were increased from 5% to 12% in the new excise policy on the insistence of the ‘South Lobby‘, a coterie of politicians and liquor businessmen who allegedly swung the policy in their favour. Ever since the CBI started its investigation, Sisodia, it is believed, systematically destroyed evidence by changing his phone — as many as 140 phones. Crucial to cracking the case has been the arrest of Butchibabu Gorantla, a former CA of K Kavitha, a BRS MLC and daughter of Telangana CM K Chandrasekhar Rao. Babu had allegedly met several accused named in the FIR in Delhi, Hyderabad, and Mumbai and was one of the prime negotiators from the South Lobby, which wanted to swing policy in its favour. It is not just the BRS, even AAP and YSRCP leaders are involved in the scam. A close relative of Telangana PCC chief Revanth Reddy too is involved. In fact, Reddy has instructed his party leaders not to speak against Kavitha.
milind narvekar
Uddhav’s Closest Aide Milind Narvekar Presence In Maharashtra Legislature Central Hall Raises Eyebrows
Shiv Sena leader Uddhav Thackeray’s closest aide Milind Narvekar shot in the news after a gap of some months as his presence in the central hall of Maharashtra legislature became the most discussed political development on the opening day of the state’s budget session. Later, he said he had entered the hall owing to a misunderstanding. Narvekar had hit headlines in the past due to his close personal equations with various top leaders like Sharad Pawar, Devendra Fadnavis and Eknath Shinde. His perceived plans to jump into one camp or another are always a matter of curiosity as he has been associated with varied institutions, from the Tirupati Temple Trust to the Mumbai Cricket Association. Political speculation was rife when Narvekar was seen in the hallowed precincts. His clarification that he had sat in the hall, mistaking it for the viewers’ gallery, was considered thin. Narvekar’s act, ostensibly inadvertent, has raised many questions as he is not new to the legislature to commit such a blunder. His party leader Aaditya Thackeray, when quizzed said, “Ask Milind if he entered the hall due to a mistake or it was his wish.” To corner the Uddhav faction over the issue, Eknath Shinde’s trusted supporter Sanjay Shirsat said, “Narvekar is in touch with us and many more MLAs are also in contact.”
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AICC Plenary Session: From Missing Icon To Finding New One, Cong Hits Refresh Button In Raipur
Senior Congress leaders are downplaying the controversy over the party’s advertisement of the 85th plenary session in which a photo of Maulana Abul Kalam Azad’s — India’s first education minister and former Congress president– went missing. Congress sources said Azad’s picture was very much on display at the AICC plenary function in Raipur. “As for the advertisement, all I can say is that it was not released by the AICC. It was handled locally by the PCC,” said a CWC member. He said the only new inclusion was that of former PM PV Narasimha Rao.” This is the first time that Rao saab made a comeback to the AICC motif after he stepped down as Congress President in 1996.”It is ironic that Rao should find a place only when Sonia Gandhi bowed out after presiding over the Congress for 25 years. Sonia had not allowed Rao’s body to be brought to the AICC office or allowed his cremation in Delhi in 2004. It was left to PM Modi to build a memorial in his honour in 2015. Meanwhile, questions are being raised about the inclusion of Dr BR Ambedkar among the list of former Congress presidents. Sudheendhra Kulkarni tweeted, how Ambedkar, who was never with the Congress and was its bitter critic both before and after Independence could be included? Also Netaji Subhash C Bose, who was forced to step down as Congress President? Is it because Modi has begun bestowing Netaji with so much prestige and honour?
Adani-Group
Adani Stocks: What’s The Further Downward Risk?
From a peak of Rs 24.33 tn (Rs 2,433,000 cr) last year Adani group’s market capitalization has already nose-dived more than 70% to Rs 7.16 tn (Rs 716,000 cr). Is this the end of the slide, or is it going to fall further? A close study of the Adani group stocks reveals that, in the first decade during which the group had just one listed company, Adani’s P/E multiples were in single digit which was far below the market average. In the second decade, when the group started unlocking the value of its closely-held companies, the discounting vastly improved.  In the third decade, when the count of the group’s listed entities increased from 3 to 10, the P/E multiples shot up to three digits which were many times more than the market average. The current slide has corrected the group’s P/E from 147X to 43X. However, this is still far higher than the current market composite P/E of 25X. At the current market composite P/E, the Adani group’s market cap should be about Rs 4.2 tn (Rs 420,000 cr). In other words, the group’s market cap may possibly contract another 40% (about Rs 300,000 cr) under the present circumstances. By arrangement with https://investlive.net/.

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Editor’s Note: Short Post Is Here To Stay…

Time, they say, flies—and how true that is. Here we are celebrating our 5th Anniversary. Five years ago, when Covid-19 was wreaking havoc across the globe, I took a leap of faith and launched Short Post, India’s first website for Authentic Gossip. That was on January 31, 2021. I was convinced there was a clear gap in the market for gossip that was credible, sharp, and impactful—especially if told in just 250 words.

In this, I was fortunate. Scores of senior editors across diverse verticals bought into the idea and, in the process, gave wings to my dream. Quite honestly, Short Post could not have crossed these milestones without the unflinching support of its contributing editors. Like all start-ups, we have seen our share of ups and downs, but these editors have stood by us like a rock. I take this opportunity to doff my hat to them.

Thanks to their commitment, we have published close to 5,000 stories spanning politics, business, entertainment, and sports. I say this with pride: we made our mark as people who matter read us. “Small packs, big impact” truly captures the essence of Short Post.

We all know that Covid-19 has reset businesses worldwide, and the media sector is no exception. In the post-Covid era, investors have become more cautious and selective—and advertisers too. To compound matters, the entry of AI has disrupted the media landscape in equal measure. So far, we have managed to hold our ground, hopeful that some angel investors will take a shine to us.

What gives me confidence is this: AI cannot smell news—especially the gossipy kind. In other words, AI cannot churn out Short Post-type stories, no matter the prompt. That puts us in a safe zone. As someone rightly said, “AI is a co-pilot, not a pilot.”