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Vodafone Idea shares dropped over 10%
Shares of Vodafone Idea fell as much as 13 percent to hit an intraday low of ₹ 7.17 after its promoter and Aditya Birla group Chairman Kumar Mangalam Birla offered to hand over his stake in debt-laden Vodafone Idea to the government or any other entity that the government may consider worthy to keep the company operational.
Vodafone Idea’s gross debt, excluding lease liabilities, stood at ₹ 1.80 lakh crore as of March 31, 2021. The amount included deferred spectrum payment obligations of ₹ 96,270 crores and debt from banks and financial institutions of ₹ 23,080 crores apart from the AGR liability. The billionaire businessman made the offer in June in a letter to Cabinet Secretary Rajiv Gauba.
Vodafone Idea along with Bharti Airtel had approached the Supreme Court for correction in the government calculations but their plea was rejected.
“It is with a sense of duty towards the 27 crore Indians connected by Vodafone Idea, I am more than willing to hand over my stake in the company to any entity- public sector/government /domestic financial entity or any other that the government may consider worthy of keeping the company as a going concern,” Mr. Birla said in the letter.
“Vodafone has huge debt, their net worth is negative ₹ 38,000 crore the company has been consistently making losses and turning it around is not an easy job as both promoters do not want to bring in fresh capital. In this situation, hope cannot be the only thing to remain invested in a stock.
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Woman Alleges Cab Driver Tried to Molest Her in Navi Mumbai
Police register FIR and launch search for accused after late-night incident.
The Case
A woman travelling home after attending a party in Chembur has alleged that her cab driver tried to molest her after stopping the vehicle at an isolated location in Navi Mumbai during the early hours of September 6.
According to her complaint, the incident took place around 1:30 am. The driver reportedly stopped the cab on the roadside, saying he wanted to drink water. After getting back into the vehicle, he allegedly moved to the back seat, held the woman’s hand and tried to remove her clothes despite her resistance.
The woman strongly protested, following which the driver allegedly fled from the spot. She then contacted her family and approached the police to report what had happened. Police identified the accused as Mohammed Afzal Sheikh and registered an FIR based on the woman’s complaint. Multiple police teams have reportedly been formed to trace and arrest him.
Investigators are using technical information and other leads to locate the accused. Police have said the complaint is being taken seriously and that appropriate legal action will follow. The incident has once again raised concerns about the safety of passengers travelling alone in cabs during late-night hours. Police are continuing their investigation into the case.
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Vashi, Belapur Welcome Grand Ganesh Idols Ahead of Ganesh Chaturthi
Thousands of devotees join colourful processions as towering idols arrive in Navi Mumbai.
The Grand Ganesh Celebration
With Ganesh Chaturthi just around the corner, the festive spirit has already taken over Navi Mumbai. Vashi and CBD Belapur witnessed enthusiastic celebrations as devotees gathered to welcome two towering Ganesh idols.
In Vashi Sector 17, the 12-foot idol of Navsala Pavnara Maharaja arrived on September 4 amid the beats of dhol-tasha and chants of “Ganpati Bappa Morya.” Nearly 3,000 devotees took part in the welcome procession. The idol, depicting Lord Ganesha seated on an elephant, will be installed in a grand replica of a royal palace. The mandal is celebrating its 43rd year.
Meanwhile, CBD Belapur Sector 2 welcomed the CBD Cha Raja, a 12.5-foot idol prepared by renowned sculptor Bhendkar from Chembur. A large number of devotees gathered to seek Bappa’s blessings during the arrival ceremony.
The mandal, now entering its 44th year, is creating a replica of the famous Banke Bihari Temple in Mathura as this year’s main attraction.
Beyond the grandeur, the celebrations also reflect Navi Mumbai’s spirit of unity. People from different communities come together to participate in aarti, puja and havan at the mandal. As the city prepares for Ganesh Chaturthi, these celebrations have brought communities together and set the mood for a festival filled with devotion, tradition and togetherness.
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Ganraj Vashi Cha Raja Enters 43rd Year with Grand Arrival Celebration
Traditional performances, a vibrant procession and an eco-friendly idol mark the beginning of Ganeshotsav in Vashi.
The Grand Celebration
The festive spirit of Ganeshotsav came alive in Vashi as the Ganraj Vashi Cha Raja Public Ganeshotsav Mandal, Sector 16A, began its 43rd year with a grand idol arrival ceremony.
The procession started from Chhatrapati Shivaji Maharaj Chowk and made its way to the main pandal amid the energetic beats of dhol-tasha. Thousands of devotees joined the celebrations, turning the streets into a sea of devotion and excitement.
Traditional performances added to the charm of the procession. Mardani Khel demonstrations, a colourful Lezim performance and the presence of a Govinda troupe drew loud cheers from the crowd. The Govindas formed a human pyramid and offered a special salute to Ganraj Vashi Cha Raja.
The event was attended by BJP corporator Anjali Valunj, mandal president and social worker Vijay Valunj, social worker Ajay Valunj, along with mandal office-bearers, volunteers and devotees. This year, the mandal has also focused on protecting the environment. The Ganesha idol, depicting Lord Ganesha seated on an elephant, has been made from paper as part of its eco-friendly initiative.
The organisers said the mandal has been preserving culture and tradition for 43 years and was among the first in Navi Mumbai to organise an idol arrival ceremony. They also invited devotees from across Navi Mumbai and Maharashtra to visit the mandal and seek Bappa’s blessings.
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