A Maharashtra minister on Monday said Serum Institute of India s CEO Adar Poonawalla should lodge a police complaint in connection with the alleged threats that he has received, and assured the state government will conduct an in-depth probe into it. Poonawalla, who has been in the UK on extended stay to evade alleged threats in India over the ever-increasing demand for COVID-19 vaccines, has said he will return in a few days. In a recent interview to The Times , Poonawalla alleged that he had been receiving threats in India and that he and his family left the country for London after unprecedented pressure and aggression over the demand of COVID-19 vaccines.
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“The Secretary of State for the U.K.’s Home Department, Priti Patel, has approved Mr. Nirav Modi’s extradition,” said a CBI official. The accused now has the legal recourse of approaching the U.K. High Court, within 14 days, to seek permission for moving an appeal against the Secretary of State’s decision.
Adar Poonawalla-backed firm to acquire majority stake in Magma Fincorp for Rs 3,456 crore
The new firm will be called Poonawalla Finance.
SII CEO Adar Poonawalla (File Image: Twitter)
Rising Sun Holdings, a company controlled in personal capacity by Serum Institute of India CEO Adar Poonawalla, announced a transaction on February 10 to acquire a controlling stake in Magma Fincorp (MFL), a non-banking financial company (NBFC).
The deal will be carried out via a preferential issue of Magma Fincorp s equity shares worth Rs 3,456 crore. The deal also includes an open offer as per SEBI norms.
According to an official statement, the deal “ is subject to shareholders’ and other regulatory approvals and represents 64.68 percent of MFL’s enhanced equity share capital post the issue. Based on current shareholding, Rising Sun Holding would hold 60 percent stake in the entity post issuance and the existing promoter group stake would get reduced to 13.3 percent post issuance. The net w