Adani Group acquires 97% stake in Kattupalli Port
New Delhi, June 28: Adani Ports on Thursday acquired 97 per cent stake in Marine Infrastructure Developer Pvt Ltd (MIDPL), the developer and operator of Kattupalli Port near Chennai.
Adani Ports, India's largest port developer and part of the Adani Group, said in a statement that it executed share purchase agreement with Larsen and Toubro (L&T) and MIDPL to acquire the stake.
Located 30 km towards north of Chennai, the Kattupalli Port is one of the most modern ports in the country which provides connectivity with hinterland of north Tamil Nadu, Chennai, the Bengaluru region and south Andhra Pradesh.
Karan Adani, CEO of Adani Ports and Special Economic Zone Ltd, said the Tamil Nadu government and the Commerce Ministry gave approvals for the acquisition in record time and his firm was committed to make Kattupalli port one of the largest ports in southern India.
"We are going to start our construction to diversify the cargo of the port and will be adding 40 MMT (million metric ton) of new capacity in next three years," he said.
The company said in a statement that it plans to transform the port into a multi commodity port to handle cargo like containers, automobiles, break bulk, general cargo, liquid cargo and project cargo.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Domestic help held for stealing cash, jewellery from US couple's house in B'luru
Bengaluru (PTI): A 29 year-old man was arrested for allegedly stealing cash along gold and diamond jewellery worth Rs 1 crore from the house of a US couple here, police said on Wednesday.
He was employed as a domestic worker at their house.
Police managed to nab the accused identified as Chandan Roul, a native of West Bengal, they said. The entire stolen property was also recovered intact, police said.
The matter came to light on January 21 when the residents of the villa at Kodihalli, a husband-wife duo who originally hail from Texas, US and are working in Bengaluru filed a complaint at J B Nagar police station, they added.
According to police, the complainant alleged that when they returned home in the evening after work, they found that the gold and diamond jewellery kept in the locker of the bedroom cupboard had been stolen.
In the complaint, they also expressed suspicion about the domestic help who had been working in their house for the past six months.
"During the probe, our team examined the case from various angles and, within a few hours of the incident, we detained the domestic help near the villa where the complainant resides. During interrogation, the accused confessed to having committed the theft," a senior police officer said.
The accused further stated that he had kept the stolen gold and diamond jewellery at his residence in Sudhamanagar, he said.
Based on the information provided by him, on the same day, the police team seized 176 grams of gold and diamond jewellery and Rs 39,000 in cash from his residence. The total value of the seized property is Rs one crore, he added.
