TheIndian EXPRESS LATE CITY, 20+4 (NEWSLINE) PAGES, PUNE, `5.00 ● WEDNESDAY, MARCH 7, 2018 ● WWW.INDIANEXPRESS.COM DAILY FROM: AHMEDABAD, CHANDIGARH, DELHI, JAIPUR, KOLKATA, LUCKNOW, MUMBAI, NAGPUR, PUNE, VADODARA VIOLENCE ROCKS TRIPURA, NEW CM ON MARCH 9 Rajnath dials Governor, DGP: Ensure order till Govt formed Home Minister steps in day after BJP supporters raze Lenin statue 10 CHENNAI, MARCH 6 NEW DELHI, AGARTALA, MARCH 6 Raag Darbari in our times BY PRATAP BHANU MEHTA NEWSLINE BEHINDSLUGGISH REALESTATEMARKET INPUNE,ECONOMIC SLOWDOWN,CAUTION ABOUTRERAPENALTY THE DAY after a statue of Lenin was razed by BJP supporters celebrating their assembly poll win in Tripura, amidst reports of attacks on CPM offices and workers, the Union Home Ministry Tuesday asked the Tripura Governor and DGP to ensure peace till a new government is installed. Prime Minister Narendra Modi is expected to visit Agartala to attend the swearing-in ceremony on March 9, when Tripura BJP chief Biplab Deb will sworn in as Chief Minister. Officials said Home Minister Rajnath Singh’s intervention came after Governor TathagataRoyappearedtojustify the razing of the statue in south Tripura, in a series of posts on hisofficialTwitteraccount.The Governor also claimed that he had received “no communication” from the Home Minister. RespondinglateMondayto a tweet on the demolition, Hours after BJP leader’s post, Periyar statue is vandalised ARUN JANARDANAN RAHUL TRIPATHI & ESHA ROY THE EDITORIAL PAGE JOURNALISM OF COURAGE CPM office vandalised by BJP supporters in Bishalgarh near Agartala. Abhishek Saha BUSINESS AS USUAL BY UNNY Suddenly targets, CPM cadres hide in party office ESHA ROY BISHALGARH, MARCH 6 ON TUESDAY, the CPM headquarters in the Bishalgarh subdivision of Tripura’s Sepahijala district — a two-storey building with a statue of Rabindranath Tagore in front — was opened underheavysecuritycover,with police vehicles on all sides. CONTINUED ON PAGE 2 According to CPM leaders, this office is now a shelter for around 45 party workers, with more trickling in, claiming that they had been assaulted by supporters of the winning BJP-IPFT alliance. CPM leaders claim this is the only party office that remains functional among the 90 spread acrossthesub-division,covering CONTINUED ON PAGE 2 HOURS AFTER Tamil Nadu BJP leader H Raja said statues of Dravidian icon E V Ramasamy ‘Periyar’ “will be brought down”, twomenwereheldinVellorefor allegedly vandalising a Periyar statue Tuesday. Police said the arrested men, Muthuraman and Francis, were drunk. A senior officer said the incident was reported after 9 pm. While Muthuraman is a BJP worker, his friend Francis belongs to a Communist party. Earlier in the day, H Raja, in a post on Facebook along with a video of a Lenin statue being bulldozedinTripura,said:“Who is Lenin? What is his relevance inIndia?WhyisIndiaconnected to Communism? Yesterday, Lenin statue was brought down in Tripura. Tomorrow, statues of caste fanatic E V Ramaswamy Periyar will be brought down.” His remarks invited strong criticism from different political groups and he later deleted the post. Periyar, founder of the Dravida Kazhagam party who had also led the self-respect movement, is revered in Tamil Nadu, irrespective of political affiliations. Reacting to Raja’s statement, DMK working president M K Stalin demanded his arrest. CONTINUED ON PAGE 2 Colombo floodlights shut out Emergency, India play tri-series EXPRESSINSRILANKA DEVENDRA PANDEY COLOMBO, MARCH 6 ON TUESDAY, the Sri Lankan government imposed a state of emergency for ten days following communal violence in Kandy. But at the R Premadasa Stadiumintheheartof Colombo, it was cricket as usual. With the Tri-nation T20 series, involving India, Sri Lanka and Bangladesh, unfolding Monday, office goers at the World Trade Center walked out to have a meal and auto-rickshaw drivers cued up for their next passenger of the day. TheSriLankangovernment’s move came after days of unrest in Kandy after a Buddhist man was killed following which Muslim-ownedbusinesseswere set ablaze. Though the state of emergency imposed did not affect the city of Colombo on Tuesday, which 130-odd km from Kandy, the news had families of Indian cricketers worried CONTINUED ON PAGE 2 Top bankers get SFIO summons in Nirav-Choksi case KHUSHBOO NARAYAN MUMBAI, MARCH 6 THE SERIOUS Fraud Investigation Office (SFIO) Tuesday summoned ICICI Bank CEO Chanda Kochhar and Axis Bank Managing Director Shikha Sharma and a few others in connection with loans and guaranteesextendedtofirmspromoted by diamond jeweller Nirav Modi andhisuncleMehulChoksi,said an official familiar with the development. ICICIBankisapartof theconsortium of 31 banks that extended loans and guarantees of Rs 5,280 crore to the Gitanjali Group promoted by Choksi. The loans were extended to Gitanjali Group between November 2010 and April 2014 against a collateral of only about Rs 100 crore, sources familiar with the development said. ICICI Bank is the leaderof theconsortiumandhas lentoverRs400croretoGitanjali Group. Illegal transactions at our Brady House branch: PNB On February 14, Punjab National Bank (PNB) in a regulatory filing, said two bank employeeshad“fraudulentlyissued Letters of Undertaking (LoUs) and transmitted SWIFT instructions to the overseas branches of Indian banks” to raise buyer’s credit for companies of Modi and Choksi to the tune of Rs11,400crorewithout“making entries in the bank system”. While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis CONTINUED ON PAGE 2 Court extends Karti’s custody by three days, CBI claims new facts Sri Lankan soldiers patrol roads after clashes in Kandy district led to declaration of a state of emergency Tuesday. Reuters ‘Recruited’ through dummy candidate Youth shot dead, friend raped by racket, 15 govt officials arrested by CID roadside near Thane, no leads so far SUSHANT KULKARNI PUNE, MARCH 6 THESTATECriminalInvestigation Department(CID)onTuesdayarrested 15 government officials who were allegedly recruited through the statewide dummy candidate racket. Till now, the CID has verified theidentitiesof 49suchofficials, who managed to get government jobs after ‘dummy candidates’ appeared for them in the recruitment exams. A Special Investigation Team (SIT) of the CID, which is currently probing the statewide 12 WORLD racket, has filed two chargesheetsinthecaseandwill be filing one more soon against the arrested accused. The SIT has already arrested 10 persons who ran the racket, including alleged kingpin Prabodh Rathod, a government employee from Nanded who was dismissed from his job. The team also arrested some of the ‘impersonators’, who took the exam instead of the actual candidates, including two police officersof assistantinspectorrank, a CID handwriting expert and a policeman who was part of the initial probe into the racket. Superintendent of Police with the CID Shankar Kengar, who is heading the SIT, said, “On Tuesday, we arrested 15 governmentemployeeswhohavebeen recruited through the racket. There will be more arrests in the case, as we get concrete proof against others whose names have been verified.” “Allthearrestedgovernment servants will be produced in court on Wednesday,” said Kengar. The arrested officials include clerks as well as officers from the departments of statistics, social welfare and animal husbandry. Three of the 15 arrested were located in Pune. CONTINUED ON PAGE 2 EXPRESS NEWS SERVICE MUMBAI, MARCH 6 A 28-YEAR-OLD man was shot dead and his 30-year-old girlfriend raped by a man who was allegedly part of a gang of robbers, who Monday accosted the couple in Titwala, 45 km away from Thane. The couple was on a motorcycle ride on an isolated road and were going back to their homes. The woman was taken to the Central Hospital in Ulhasnagar for a medical examination and discharged on Tuesday, while Ganesh Dinkar was declared dead at the hospital, police said. Twentyfourhoursaftertheincident,policeareyettoidentifythe accused, even as locals claimed the road between Ambernath to Chinchpada, where the incident tookplace,isaknownhideoutfor “antisocial elements”. According to police, Dinkar and his friend were on a Royal Enfield motorcycle Monday nightnearNalimbivillageonthe Ambernath-Chinchpada road. “The incident occurred around 9:00 pm. According to thewoman’sstatement,shewas standing alone with the bike while the man had gone inside the jungle to relieve himself,” said Mahesh Patil, Superintendent of Thane rural police. In her statement, the victim told police a man armed with a gun had threatened her. “When Dinkar realised what was happening, he ran back to the woman and tried to fight the man off. However, he was shot two to three times in his upper body, chest and neck,” Patil said. The assailant then allegedly dragged the woman to a thicket of trees around the road and raped her, police said. “She has suffered injuries of sexual assault. She is also in extreme shock,” Patil said. CONTINUED ON PAGE 2 Karti Chidambaram outside court Tuesday. Prem Nath Pandey ABHISHEK ANGAD & ANANTHAKRISHNAN G NEW DELHI, MARCH 6 ADELHIcourtTuesdayextended the CBI custody of Karti Chidambaram, son of former Union Minister P Chidambaram, until March 9 after the agency said it needed to question him further because “new substantial evidence” had been found in the INX Media case. Earlier in the day, the Supreme Court declined to give Karti any interim protection from arrest in an alleged money launderingcasebeingprobedby the Enforcement Directorate. Agreeing to take up the matternextonMarch8,thebenchof Chief Justiceof IndiaDipakMisra andJusticesAMKhanwilkarand D Y Chandrachud clarified that “our present order shall have no impact on any proceedings pendingagainstthepetitionerin any court”. CONTINUED ON PAGE 2 ● PAGE ONE ANCHOR SAEED, JuD LEADERSMOVE FREELYINPAK DESPITEBAN TWO KOREAS WILL MEET IN APRIL, DISCUSS GIVING UP NUKES, SAYS SOUTH KOREA ZOMATO, SWIGGY ALMOST MATCH INVESTMENTS IN RESTAURANTS PRANAV MUKUL NEW DELHI, MARCH 6 SIGNALLING A clear investment shift in the food business, money pumped in by Private Equity (PE) and Venture Capital (VC) players in just two online platforms — Zomato and Swiggy — was merely $143 million less than what was invested in the country’s organised restaurant segment over the last five years. PE and VC investors infused $843 million in the restaurant segment, including in categories such as quick service, casual din- ing and fine dining during the last five years. Over the same period, Zomato and Swiggy received around $700 million. According to data provided to The Indian Express by Chennai-based Venture Intelligence, substantial investment by PE-VC firms was made in the quick service and casual dining categories. These include companies such as Sapphire Foods, which operates Pizza Hut and KFC franchisees, Burger King India, Devyani International, which is also known for Pizza Hut and KFC restaurants along with Costa Coffee outlets, and Impresario Entertainment & Hospitality, which operates Social and Smoke House Deli restaurants. The most active investors in the space, as per Venture Intelligence, have been Everstone — its portfolio includes Burger King India, Massive Restaurants (Farzi Cafe, MasalaBar, Pa Pa Ya), Blue Foods (Spaghetti Kitchen, Copper Chimney, The Coffee Bean & Tea Leaf) and My Square. Now Capital invested in Boombox Cafe, Cafe OTB, Carls Jr India and Kwals Group. Goldman Sachs put money in Sapphire Foods, Massive Restaurants and Azure Hospitality (Mamagoto, Dhaba, CASH ON THE MENU $843 mn investment in restaurants in 5 yrs $700 mn investment in Zomato, Swiggy in 5 yrs Rollmaal). PE-VC funding in restaurants does not cover the entire range of investment in the space — a substantial portion is by pro- moters. Some of the companies such as Jubilant FoodWorks (Domino’s Pizza, Dunkin’ Donuts), Coffee Day Enterprises (Cafe Coffee Day) and Speciality Restaurants (Mainland China, Oh! Calcutta) have tapped the capital markets, raising funds to the tune of Rs 330 crore, Rs 1,150 crore and over Rs 175 crore, respectively. The slew of investments by PE-VC funds in the restaurant space notwithstanding, experts believethesegmentisnotavery attractiveopportunitycompared with the consumer internet space, including food-tech. This is primarily because of the high capital expenditure that brickand-mortarrestaurantsdemand and the slower rate of scaling up than food-tech companies such as Swiggy and Zomato. Gurgaon-based Zomato, which offers listing, feedback and delivery services, has seen investment from firms such as Sequoia Capital, Info Edge, Temasek Holdings and, in the latest round, China’s Ant Financial. Swiggy, which provides food delivery services through its exclusive fleet of riders, has raised funds from investors including Naspers, Accel Partners and Bessemer Venture Partners. In its draft red herring prospectus filed with the Securities and Exchange Board of India, casual dining restaurant CONTINUED ON PAGE 2
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