Gauri murder case accused one of two Kalburgi killers?
Bengaluru, June 07: A 37-year-old Pune man currently under investigation for his suspected links to the Gauri Lankesh murder was allegedly one of the two men who knocked on the doors of scholar MM Kalburgi’s residence in Dharwad before they gunned him down on August 30, 2015, reports timesofidia.indiatimes.com.
Two unidentified men had gone to Kalburgi’s Kalyan Nagar residence. The visitors struck up a conversation with the scholar and his wife Umadevi went inside as she thought they were his students. The visitors fled after one of them shot Kalburgi dead. One of the visitors is suspected to be Amol Kale, the Pune man, now being questioned by the Special Investigation Team (SIT) probing the Gauri killing.
“A close family member of Kalburgi has identified Kale as one of the visitors. However, we need more evidence to establish the claim. We’ll soon contact sleuths of the Criminal Investigation Department (CID) which did the initial investigation into the Kalburgi killing.” SIT sources said TOI.
Kale is a realtor and lives with his widowed mother and wife in Akshay Plaza Apartments at Manek Colony, Chinchwad near Pune. Kale, Manohar Yadave (from Vijayapura), Amit Degvekar (from Sindhudurg, Maharashtra) and Sujit Kumar alias Praveen from Mangaluru were first arrested for conspiring to kill Mysuru rationalist KS Bhagawan. The SIT took them into custody after it emerged that they had links with the Gauri killing too.
Kale’s absconding accomplice, Nihal alias Dada, is a suspected to have played a significant role in the Gauri murder, SIT sources said. We have launched a manhunt for him,” sources said TOI.
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Adani touts financial strength, shows can grow without external debt
New Delhi (PTI): Billionaire Gautam Adani's conglomerate on Monday touted its financial and credit details of its portfolio companies to investors, showcasing its robust profits and cash flows that can sustain growth without reliance on external debt.
The ports-to-energy conglomerate, which has been hit by an indictment in a US court against its founder chairman Gautam Adani and two other executives for allegedly bribing Indian official to secure solar power contracts, in a presentation to the investors highlighted its consistently expanding profits and cash flows, which over a period have led to lowering dependence on debt for its growth ambitions.
Equity now accounts for almost two third of its total asset creation, a stark contrast to five years ago. In the last six months, the group has invested close to Rs 75,227 crore, against a total debt increase of only Rs 16,882 crore.
A note was also shared with the investors, along with presentations.
Outlining the group's liquidity position, the note said, "Adani Portfolio companies have sufficient liquidity to cover all debt servicing requirements for at least 12 months. As of September 30, 2024, Adani Portfolio companies had a cash of Rs 53,024 crore, which was close to 21 per cent of its total gross debt outstanding".
This amount, it said, was sufficient to cover the next 28 months of debt servicing requirement.
GROWTH WITHOUT DEBT
In the past, the group has announced plans to invest over Rs 8 lakh crore (USD 100 billion) across portfolio companies in the next ten years.
The Fund Flows from Operations (FFO) or cash profits stood at Rs 58,908 crore for the last twelve months and is growing over 30 per cent for the past five years. On the basis of this, even after assuming no growth, the group will be able to invest Rs 5.9 lakh crore only from its internal cash accruals over the next ten years, leaving very little dependency on external debt.
Further, at the portfolio level, there is very low debt gearing of 2.46x -- which means it has massive headroom for debt, according to the presentation.
Other highlights from the presentation included EBITDA (earnings before interest tax and depreciation) for the last twelve months, which it said is highly stable and hence predictable due to its infrastructure projects, which grew by 17 per cent to Rs 83,440 crore.
Also, existing annual cash flows alone can pay the entire debt in 3 years.
Gross assets/investments increased by Rs 75,227 crore, against total debt increase of only Rs 16,882 crore. Asset base has now increased to Rs 5.5 lakh crore.
Average cost of borrowing at 8.2 per cent, lowest in the last 5 years, due to upgrade in ratings across group companies, it said.
Adani Group's long-term debt from domestic banks was Rs 94,400 crore. This stood against a cash balance of Rs 53,024 crore, most of which was parked with Indian banks.
Borrowings from global banks were 27 per cent of total debt.
