Karnataka government clears APMC ordinance
Bengaluru: Despite objections from the opposition parties, the Karnataka cabinet on Thursday approved an ordinance that will amend the laws to curtail the powers of the Agricultural Produce Market Committees (APMC).
According to the government, it is aimed at bringing in reforms to facilitate market access for farmers.
"The cabinet has approved an ordinance for APMC.
....we have have amended only couple of sections...now farmers can sell their produce as per their wish to private companies or at market, we have relaxed the norm that farmers have to sell at market yards only," Law and Parliamentary Affairs Minister J C Madhuswamy said.
He said wherever the farmer feels he will get profit, he can sell it there.One can sell produce at APMC markets or outside markets or to private buyers.
"We have prescribed central act as model act with an intention to double the income of farmers and to relax restrictions to give them the freedom to sell their produce anywhere they want.
With this intention we have approved the ordinance," he added.
Opposition parties have vehemently opposed the ordinance and threatened agitation, claiming that it would dilute the APMC laws and affect the farmers' interests.
The measure would only help big private companies as it will clip the powers of the APMCs, they charged.
Conceding that market committees will now have powers to regulate trading within the the market and not outside it, the Minister said the powers of the Directorate of APMC at the state level have not been removed and it will have all the authority to prevent any injustice.
He said if some one wants to trade in the private market he will have to produce bank security or guarantee, and after deposit will be allowed to purchase materials from farmers after obtaining the licence from the Directorate of agriculture market.
As there will be direct link between producer and trader, there will be no middlemen hassles also with this amendment, he added.
Governor Vajubai Vala had recently returned this ordinance citing procedural reasons and asked the cabinet to approve it first.
The government had earlier planned to take post-facto approval from the Cabinet for the ordinance.
Clarifying on it, Madhuswamy said "..the Governor had put it on hold until the cabinet decision."
The amendments to agriculture produce marketing laws are aimed at removing restrictions on sale of farm produce and allowing farmers to sell their produce anywhere, officials said.
Further stating that he was unable to understand about negative publicity for the amendment, Madhuswamy said, "we have said it clearly, farmers can sell wherever they want."
"Even now private players are purchasing from farmers directly, this will regularise it," he said, adding that there might be some reduction in market cess collection for the government.
The State government is said to have taken the ordinance route to amend the APMC act following the centre's suggestion to adopt the Model Agricultural Produce and Livestock Marketing (Promotion and Facilitation) Act, 2017, of the union government.
BJP-ruled Madhya Pradesh and Gujrat have made amendments to the APMC Act.
Alleging that the state government was bringing the amendment at the Centre's behest, the Leader of Opposition Siddaramaiah said it was against the constitution as agriculture is a state subject.
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Aditya Birla Group-led consortium acquires RCB for USD 1.78 billion
Bengaluru (PTI): A consortium led by the Aditya Birla Group (ABG) on Tuesday acquired 100 percent equity stake in IPL franchise Royal Challengers Bengaluru for a whopping USD 1.78 billion (approximately Rs 16,706 crore) from its current owner the United Spirits Limited.
Other parties involved in the group are -- Blackstone’s perpetual private equity strategy, BXPE, a firm of which Viral Patel is the CEO, Bolt Ventures, owned by American investor David Blitzer, and media conglomerate Times of India.
“United Spirits Limited, pursuant to the meeting of its Board of Directors, today announced that it has entered into definitive agreements for the sale of the 100 percent equity stake held in its wholly owned subsidiary Royal Challengers Sports Private Limited (RCSPL) to a consortium,” the USL said in a statement.
“The consortium comprises Aditya Birla Group (ABG), The Times of India Group (Times), Bolt Ventures (Bolt), and Blackstone’s perpetual private equity strategy, BXPE (Blackstone) for a total consideration of INR 166.6 bn in an all cash transaction,” the statement added.
The transaction includes RCB's men’s and women’s (WPL) teams.
“RCSPL owns and operates Royal Challengers Bengaluru (RCB) franchises that participate in the Indian Premier League (IPL) and Women’s Premier League (WPL).
“Upon completion of this transaction, the consortium will, through its ownership of RCSPL, acquire the rights to own and operate the IPL and WPL franchise,” said the USL.
The announcement also concluded the strategic review of RCSPL that was initiated by USL on November 5, 2025.
The United Spirits Limited is a subsidiary of UK-Diageo, and they were keen to move away from RCB as the team was not central to their business plans.
Commenting on the transaction, Praveen Someshwar, MD & CEO, USL, said: “This transaction marks an important milestone for USL as we sharpen focus on our core beverage alcohol business to unlock its true potential. RCB has grown into the most prominent and commercially successful franchise in the IPL and WPL.
“We are excited for the future of RCB under the stewardship of the new owner. As Sports enters a new phase of growth in India & globally, we believe this is in the best interest of the franchise and our stakeholders.”
Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, “Over the past 2 decades, the IPL has morphed to become a global sporting powerhouse that has changed the face of Indian cricket creating enormous value for India.
“RCB, as one of the most compelling franchises in modern sport, offers the Aditya Birla Group a distinctive platform to extend its legacy of institution-building into the arena of global sport.”
As per the sale agreement, Aryaman Vikram Birla, ABG’s director, will be the chairman of RCB while Satyan Gajwani of Times of India will be his deputy.
Aryaman Birla, said: “It is a privilege to come together in this partnership to shape the next phase of growth for RCB. This partnership brings together a deep understanding of sports, media and consumer businesses.
“Together, we will continue to Play Bold -- on the pitch, in the community, and for the fans who make RCB what it is.”
Gajwani, Chairman, Times Internet Limited, said: “RCB is the reigning champion and the most popular brand in the IPL. We will build RCB into a global sporting institution, while remaining rooted in Bengaluru and Karnataka and its incredible fanbase.”
Blitzer hoped to build on RCB’s recent success.
“RCB has a world-class fanbase, and the IPL is one of the great growth stories in global sport. Having invested in clubs and leagues around the world, I believe the opportunity at RCB stands out.
We look forward to working alongside our partners and the BCCI to build on the franchise’s championship success,” he said.
Patel praised the RCB as one of the strongest sporting brands in the world.
“We are excited to invest in RCB, building on Blackstone’s long-standing commitment to India. RCB stands out as one of the most popular sports franchises in the world with a powerful brand, a loyal fan base, and multiple avenues for growth,” he added.
However, formalities such as ratification from the BCCI, IPL Governing Council, its WPL counterpart and the Competition Commission of India are still pending.
Earlier, IPL franchise Rajasthan Royals was acquired by US-based Kal Somani-led consortium for USD 1.63 billion (approx Rs 15,290 crore),
The Somani-led consortium includes Rob Walton from the Walmart family and Hamp family (Ford motor company).
Somani is an Arizona-based tech entrepreneur who has founded IntraEdge (technology services and solutions), Truyo.Ai (data privacy rights and AI governance) and Academian (edtech services).
The other contenders to buy the team, which won the inaugural trophy in 2008, were the Times Internet-led consortium, the Aditya Birla Group and the Mittal family led by ArcelorMittal CEO Aditya Mittal.
