Month: June 2023

Aditya Birla Capital raises Rs 3,000 crore through QIP

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Aditya Birla Capital Limited (ABCL) on Friday, June 30, successfully secured funds amounting to Rs 3,000 crores. This was accomplished through a combination of a Qualified Institutional Placement (QIP) of equity shares totaling Rs 1,750 crores and a preferential issuance of equity shares totaling Rs. 1,250 crores to its Promoter and Promoter Group entities, namely Grasim Industries Limited and Surya Kiran Investments Pte. Ltd., respectively.

At its Board of Directors meeting today, the company approved the issue and allotment of 10 crore equity shares of face value Rs 10 each to eligible Qualified Institutional Buyers (QIBs) at the issue price of Rs 175 per Equity Share (including a premium of Rs 165 per Equity Share), aggregating to Rs 1,750 crores.

Several marquee foreign portfolio investors, sovereign wealth funds and domestic institutional investors participated in the QIP.

The investors included BlackRock, Capital Group, Norges Bank, Royal Bank of Canada, M&G Investments, Abu Dhabi Investment Authority (ADIA), Massachusetts Institute of Technology (MIT), Public Sector Pension Investment Board (PSP) and SBI Life Insurance.

Chairman of Aditya Birla Group Kumar Mangalam Birla said that this investment is crucial for the company

“This investment marks a pivotal moment in the journey of Aditya Birla Capital. It underscores Aditya Birla Group’s commitment to our rapidly growing financial services business. In addition, the active participation of blue-chip investors serves as a resounding vote of confidence in the company’s strategy and growth platform,” Birla said. 

“The Indian financial services industry will form the bedrock of the country’s economic progress and we hold firm in our belief that Aditya Birla Capital will successfully fulfill its commitment to empower the financial aspirations of millions of customers,” he added.

Moreover, Vishakha Mulye, CEO, ABCL said, “We are deeply honoured and grateful for the incredible support and faith reposed in us by our investors and the promoters, which demonstrate their full confidence in the strength of the franchise.”

“Guided by the ‘One ABC. One P&L’ approach, we are committed to drive quality and profitable growth, harness the power of data, digital and technology to serve our customers better and create long-term value for our stakeholders,” she added.

ABCL stated in a release that the majority of the funds raised will be used to enhance the capital base, improve the solvency margin and leverage ratio, and meet the growth and funding needs arising from various business opportunities within its subsidiaries.

ALSO READ: AMC stocks surge on SEBI’s move to publish new paper on total expense ratio — HDFC AMC, Nippon Life rise 11%

It would also be used to make investments in one or more subsidiaries or joint ventures of the company engaged in certain businesses and technology, IT infrastructure and digital offering platforms, it added.

ABCL has been bolstering its digital capabilities by scaling up its digital base to build an integrated portfolio of digital assets to serve customers in a frictionless manner and across channels of their choice.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sebi imposes Rs 30 lakh penalty on Vedanta for incorrect disclosures

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Markets regulator Sebi on Friday imposed a fine of Rs 30 lakh on Vedanta Ltd for failing to provide correct disclosures, including on its website, in relation to certain announcements made by the company last year.

In a 24-page order, Sebi said the act of Vedanta Ltd (noticee) to carry news not pertaining to its operations on the website leads to providing misleading information to the investors of the public limited company.

“All these events may lead one to cast aspersions on the intent of the company to host the press release on its website,” the regulator said as it imposed a fine of Rs 30 lakh on the company for certain violations of norms.

The fine has been slapped for the failure to provide correct disclosures, including misrepresentation on the company’s website. In March this year, the Securities and Exchange Board of India (Sebi) issued a show cause notice to Vedanta Ltd.

The matter pertained to announcements related to the semiconductor business, including the company’s holding company Volcan Investments Ltd (VIL) partnering with Foxconn to make semiconductors in the country.

Initially, a release in February 2022 said that Vedanta Ltd has partnered with Foxconn and upon the stock exchanges seeking clarification, the company said the deal was to be undertaken by VIL.

In September 2022, Vedanta Ltd issued a release, which was also available on its website, saying that it has signed MoUs to set up semiconductors and display fab units.

As the release was found to be contradictory to the company’s clarification given in February, the stock exchange NSE asked it to clarify. Then, the company informed the business of manufacturing semiconductors is not under it and would be undertaken by VIL, as per the regulator.

Sebi said that while Vedanta Ltd removed the “offending press release” after the hearing in the matter, it still remains a question as to how the company continued to carry the press release on its website.

“The efforts taken by the company to take corrective actions were wanting and the actions were far delayed,” Sebi Adjudicating Officer Barnali Mukherjee said in the order.

Conceptually, Sebi said the events pertaining to the listed company only should be carried on the website. However, here is a case where the events of the promoter, not related to the listed company have been carried on the website, it added.

“Vedanta, being a multi-billion dollar company with business across jurisdiction and Vedanta Resources Ltd (VRL) with a presence among so many companies with listed companies across the globe, it is unfathomable as to how an event pertaining to the ultimate holding company, i.e. Volcan Investments Limited (VIL) found its way to the website of Vedanta Ltd, the listed company in India,” the order said.

Sebi also noted that it is clear from the chronology, that the event of VIL was known long back in February 2022 and that exchanges had sought clarifications from the noticee about the relevance of the news to the noticee itself.

“Having had this knowledge as well as being fully aware of the fact that the event was in no way related to the noticee, i.e. listed company, the noticee egregiously hosted the press release on its website. Not only this, it made the press release on its letterhead itself giving a clear indication that the news pertained to the listed entity,” it said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

USFDA inspection of Granules’ Visakhapatnam facility concludes with zero observations

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Drug firm Granules India Ltd on Friday said the US Food and Drug Administration (FDA) has completed the pre-approval inspection and good manufacturing practice audit of the unit IV facility in Visakhapatnam with zero observations.

The audit was from June 26, 2023, to June 30, 2023. The Unit IV facility located at Visakhapatnam manufactures Active Pharmaceutical Ingredients,  the company said in an exchange filing.

The company’s consolidated revenue jumped 16 percent to Rs 1,196 crore against Rs 1,030 crore in the corresponding quarter last year. The earnings before interest, tax, depreciation, tax, and amortization was higher by 18 percent for the quarter under review and stood at Rs 228 crore.

The operating profit margins grew 40 bps to 19.1 percent versus 18.7 percent in the same quarter last year. The net profitability of the company is 8 percent higher at Rs 120 crore. In the fourth quarter of the financial year 2021-22, the net profit stood at Rs 111 crore.

The finance costs have jumped to Rs 19 crore versus Rs 6 crore in the same quarter last year and Rs 17 crore in the third quarter of the financial year 2022-23.

For the full financial year 2022-23, revenues are higher by 20 percent to Rs 4,512 crore, while earnings before interest, tax, depreciation, and amortization grew 27 percent to Rs 914 crore.

Operating profit margins stood at 20.3 percent versus 19.2 percent in the financial year 2021-22. The net profitability grew 25 percent to Rs 517 crore.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Hope India won’t face sanctions due to closer ties with Russia, says US Congressman Ro Khanna

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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US Congress Representative of California and member of the Democratic Party Ro Khanna hopes that India won’t face sanctions due to closer relations with Russia and also believes that India’s Prime Minister Narendra Modi could play a constructive role in bringing war in Ukraine to an end.

“With Russia pulling out of territories, PM Modi can play a role for peace,” he said in an exclusive conversation with CNBC-TV18.

Earlier in the day, PM Modi talked to Russian President Vladimir Putin over phone. A statement from the Prime Minister’s Office (PMO) said Modi reiterated his call for dialogue and diplomacy to resolve the Ukraine crisis.

Khanna, in this exclusive conversation, reiterated the traditional stand of the US on India, that it was one of the most important allies for Washington in the 21st century.

Also Read:PM Modi, Russian President Putin hold talks on Ukraine crisis — a call for dialogue and diplomacy

He highlighted the fact that many international companies are moving from China to India to diversify supply chains.

“India can emerge as Asia’s manufacturing hub as companies like Apple move there.”

He said the US has more joint papers with Chinese researchers than Indians and “that’s an area where more growth can be seen.”

The Democrat also remembered his 25-minute meet with the Indian Prime Minister, saying they discussed issues on defence cooperation, people-to-people ties, pluralism and human rights.

Both nations need to make sure we’re protecting minority rights, he reiterated. “We need to ensure we don’t have police violence against people of colour.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

India forms committee to oversee carbon market

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

HDFC, HDFC Bank merger effective today, July 13 will be record date

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Housing Development Finance Corporation (HDFC) will merge with its subsidiary HDFC Bank on Saturday (July 1) after their respective boards cleared the proposal on Friday (June 30). Following the reverse merger, HDFC will cease to exist from July 1 onwards.

“Saturday, July 1, 2023, to be the ‘Effective Date’ of the Scheme, on which date the certified order of the NCLT sanctioning the Scheme will be filed by HDFC Investments, HDFC Holdings, HDFC Limited, and HDFC Bank with the RoC,” HDFC Bank said.

Under the merger, HDFC Bank will issue and allot to eligible shareholders 42 new equity shares of the face value of Re. 1 each, credited as fully paid-up, for every 25 equity shares of the face value of Rs 2 each fully paid-up held by such shareholder in HDFC Ltd as on the record date (July 13, 2023).

Post the merger, HDFC Bank has no identified promoter. All employees of HDFC Ltd as of the effective date become HDFC Bank employees. Over the past months, the bank has been preparing for smooth integration not only of systems and processes but also of all aspects that will make HDFC Bank a welcoming place of work for the employees from HDFC Ltd.

Sashi Jagdishan, CEO and MD of HDFC Bank said, “This is a defining event in our journey and I am confident that our combined strength will enable us to create a holistic ecosystem of financial services. We are truly happy to welcome the talented team of HDFC Ltd. into the HDFC Bank family.”

Post-merger, the key HDFC Bank subsidiaries include HDFC Securities Ltd, HDB Financial Services Ltd, HDFC Asset Management Co Ltd, HDFC ERGO General Insurance Co Ltd, HDFC Capital Advisors Ltd, and HDFC Life Insurance Co Ltd.

“I believe our journey will be defined by agility, adaptability, and a relentless pursuit of excellence. As we navigate the path ahead, we will embrace challenges as opportunities, learn from our experiences, and strive to be the benchmark of success and integrity in the financial services industry,” Jagdishan added.

The combined shares of the HDFC twins will have the highest weighting on the indices at close to 14 percent, much higher than the present index heavyweight Reliance Industries with a 10.4 percent weightage. With the deal getting effective, HDFC Bank will be 100 percent owned by public shareholders, and existing shareholders of HDFC will own 41 percent of the bank.

Termed as the biggest transaction in India’s corporate history, HDFC Bank on April 4 last year agreed to take over the biggest domestic mortgage lender in a deal valued at about $40 billion.

The proposed entity will have a combined asset base of around Rs 18 lakh crore. Once the deal is effective, HDFC Bank will be 100 percent owned by public shareholders, and existing shareholders of HDFC will own 41 percent of the bank.

Upon completion of the HDFC Bank-HDFC merger, a single entity would remain, and mutual fund managers of diversified equity schemes are expected to make the necessary adjustments to their respective portfolios, bringing down the maximum holding percentage equal to or less than 10 percent.

As per the norms specified by the capital markets regulator Sebi for diversified equity funds, the investment in equity shares or equity-related securities of a single company must not exceed 10 percent of the net assets of the scheme. This regulation does not apply to sector-specific or thematic funds.

Once the merger is completed, HDFC shareholders will receive HDFC Bank shares in their demat accounts. The newly issued HDFC Bank shares are expected to be listed on bourses by July 17, 2023.

Last week, the BSE and National Stock Exchange (NSE) informed HDFC and HDFC Bank about the Securities and Exchange Board of India (SEBI) relaxing a rule with reference to warrant listing. The market regulator granted the firms exemption from applicability of Rule 19(2)(b) of Securities Contract (Regulations) Rules (SCRR), the companies said on Thursday.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

US court’s ban on race-based admissions a disservice to students as they lose diversity benefits: Ro Khanna

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The US Supreme Court has made a significant decision to prohibit race-based admissions in colleges and universities. This longstanding practice, which benefited black and Latino students in higher education, has been overturned by the court’s conservative majority.

The admissions plans at Harvard and the University of North Carolina, both distinguished private and public institutions respectively, were invalidated, sparking a nationwide debate on the future of diversity in education.

Ro Khanna, a Democratic Party member and Representative of California in the US Congress, expressed his concern over the ruling, stating that it would be detrimental to students and educational institutions, as they would lose the benefits of a diverse student body.

Khanna shared his personal experience, highlighting that the diversity he encountered during his education played a vital role in his development as a leader representing Silicon Valley in Congress.

The chief justice argued that students should be evaluated based on their individual experiences rather than their race. The court found that the admission programs implemented by Harvard and the University of North Carolina violated the equal protection clause because they lacked “measurable” objectives to justify the consideration of race.

Furthermore, the court stated that these programs perpetuated racial stereotypes and lacked clear endpoints.

Khanna emphasised that colleges and universities now face the challenge of ensuring that the United States does not lose its competitive edge in terms of having the most diverse educational institutions globally.

Also Read: US Supreme Court rejects Biden’s plan to wipe away $400 billion in student loans

“University Presidents are looking for ways to keep the diversity of their college campuses while complying with the law. I think in the next 3-4 months they are going to do hard work to make sure America doesn’t lose this competitive edge of having some of the most diverse colleges and universities in the world,” Khanna said.

Watch video for entire conversation.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

ICC World Cup Qualifiers 2023: Netherlands nearly hand Sri Lanka an upset, Dhananjaya de Silva stars with the bat

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Sri Lanka survived a massive scare against the Netherlands at the Queens Sports Club in Zimbabwe on Friday in the ICC Men’s ODI World Cup 2023 Qualifiers. Clashing against each other in the Super Six clash, the Dutchmen gave the Lankans a close run for their money on a sluggish surface. 

Put into bat first, the Dasun Shanaka-led team were bowled out for 213 in under 49 overs. Dhananjaya de Silva put in a valiant effort with the bat, scoring 93 off 111 deliveries courtesy of eight boundaries and two sixes.

However, the rest of the batting order failed to chip in in a greater capacity and that handed the Netherlands an exciting opportunity to bring about another upset in the tournament. A few days ago, the second-string Dutch side defeated the West Indies in a cracking super over. On Friday, they had an opportunity to repeat that feat against another Test-playing nation but fell short of the same by merely 21 runs in the end.

Also Read: Netherlands script history by beating West Indies in the Super Over of ICC Men’s ODI World Cup Qualifiers

Both the Dutch openers, i.e. Vikramjit Singh and Max O’Dowd departed for ducks but half-centuries by Wesley Barresi (52) and Scott Edwards (67) brought them close to the target. Bas de Leede played a handy knock of 41 runs as well, however, a three-wicket haul by Maheesh Theekshana along with timely contributions by other Lankan bowlers ensured that Netherlands were unable to secure a victory in the end.

“Disappointing for us. At the halfway mark, we thought they were under par, it was probably a 250-260 wicket. We had a good start. Credit to them, they bowled well in that little patch there and we couldn’t get over the line,” Dutch skipper Scott Edwards said after the game. 

He further added, “We bowled well throughout the whole innings. Dhananjaya batted exceptionally well, didn’t give us many chances, and sometimes on those wickets, there’s going to be those partnerships. We were disappointing with the bat. A run-out like that or a great piece of fielding can change the game a little bit. We bat deep, we should have gotten over the line.”

Brief Scores: Sri Lanka 213 in 47.4 overs (Dhananjaya de Silva 93, van Beek 3-26) defeated Netherlands 192 in 40 overs (Edwards 67*, Theekshana 3-31) by 21 runs

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Amit Shah approves release of Rs 6,194 crore to 19 states under disaster relief fund

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Union Home Minister Amit Shah on Friday approved the release of Rs 6,194.40 crore to 19 states under the State Disaster Response Fund (SDRF).

The amount includes Rs 1,209.60 crore as central share of the State Disaster Response Fund to four states — Chhattisgarh, Meghalaya, Telangana and Uttar Pradesh — for 2022-23, according to an official statement.

The statement added that Rs 4,984.80 crore will also be given to 15 states — Andhra Pradesh, Arunachal Pradesh, Assam, Bihar, Goa, Haryana, Himachal Pradesh, Kerala, Maharashtra, Manipur, Meghalaya, Odisha, Punjab, Tamil Nadu and Tripura — for 2023-24.

The release of funds will help states undertake relief measures during the current monsoon season.  The central government, under the leadership of Prime Minister Narendra Modi, has already approved the release of Rs 3,649.40 crore as central share of SDRF to nine states during 2023-24.

ALSO READ: ‘Uniform Civil Code a concern for minorities, it could favour Hindu majority’

Based on the 15th Finance Commission’s recommendations, the central government has allocated Rs 1,28,122.40 crore for SDRF for years 2021-22 to 2025-26, the release stated.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

US Supreme Court backs designer refusing to create wedding websites for gay couples

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In a defeat for gay rights, the Supreme Court’s conservative majority ruled on Friday that a Christian graphic artist who wants to design wedding websites can refuse to work with same-sex couples. One of the court’s liberal justices wrote in a dissent that the decision’s effect is to “mark gays and lesbians for second-class status” and that it opens the door to other discrimination.

The court ruled 6-3 for designer Lorie Smith despite a Colorado law that bars discrimination based on sexual orientation, race, gender and other characteristics. Smith had argued that the law violates her free speech rights.

Smith’s opponents warned that a win for her would allow a range of businesses to discriminate, refusing to serve Black, Jewish or Muslim customers, interracial or interfaith couples or immigrants. But Smith and her supporters had said that a ruling against her would force artists — from painters and photographers to writers and musicians — to do work that is against their beliefs.

Justice Neil Gorsuch wrote for the court’s six conservative justices that the First Amendment “envisions the United States as a rich and complex place where all persons are free to think and speak as they wish, not as the government demands.” Gorsuch said that the court has long held that “the opportunity to think for ourselves and to express those thoughts freely is among our most cherished liberties and part of what keeps our Republic strong.”

In a dissent, Justice Sonia Sotomayor wrote, “Today, the Court, for the first time in its history, grants a business open to the public a constitutional right to refuse to serve members of a protected class.” She was joined by the court’s two other liberals, Justice Elena Kagan and Justice Ketanji Brown Jackson.

Sotomayor said that the decision’s logic “cannot be limited to discrimination on the basis of sexual orientation or gender identity.” A website designer could refuse to create a wedding website for an interracial couple, a stationer could refuse to sell a birth announcement for a disabled couple, and a large retail store could limit its portrait services to “traditional” families, she wrote.

The decision is a win for religious rights and one in a series of cases in recent years in which the justices have sided with religious plaintiffs. Last year, for example, the court ruled along ideological lines for a football coach who prayed on the field at his public high school after games.

The decision is also a retreat on gay rights for the court. For nearly three decades, the court has expanded the rights of LGBTQ people, most notably giving same-sex couples the right to marry in 2015 and announcing five years later in a decision written by Gorsuch that a landmark civil rights law also protects gay, lesbian and transgender people from employment discrimination.

Even as it has expanded gay rights, however, the court has been careful to say those with differing religious views needed to be respected. The belief that marriage can only be between one man and one woman is an idea that “long has been held — and continues to be held — in good faith by reasonable and sincere people here and throughout the world,” Justice Anthony Kennedy wrote in the court’s gay marriage decision.

The court returned to that idea five years ago when it was confronted with the case of a Christian baker who objected to designing a cake for a same-sex wedding. The court issued a limited ruling in favor of the baker, Jack Phillips, saying there had been impermissible hostility toward his religious views in the consideration of his case. Phillips’ lawyer, Kristen Waggoner, of the Alliance Defending Freedom, also brought the most recent case to the court. On Friday, she said the Supreme Court was right to reaffirm that the government cannot compel people to say things they do not believe.

“Disagreement isn’t discrimination, and the government can’t mislabel speech as discrimination to censor it,” she said in a statement.

Smith, who owns a Colorado design business called 303 Creative, does not currently create wedding websites. She has said that she wants to but that her Christian faith would prevent her from creating websites celebrating same-sex marriages. And that’s where she runs into conflict with state law.

Colorado, like most other states, has a law forbidding businesses open to the public from discriminating against customers. Colorado said that under its so-called public accommodations law, if Smith offers wedding websites to the public, she must provide them to all customers, regardless of sexual orientation. Businesses that violate the law can be fined, among other things. Smith argued that applying the law to her violates her First Amendment rights. The state disagreed.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow