OPINION, P2 IDEA EXCHANGE MIND & GAMES Truth,post-truth and again the truth FACIAL EXERCISES MAY MAKE YOU LOOK THREE YEARS YOUNGER Mukhtar Abbas Naqvi ‘We’re not seeking reform in Islam, Shariat, but there must be reform of evil social practices’ Page 4 A study has found that women looked about three years younger after a few months of exercising Page 10 ACROSS THE AISLE , P CHIDAMBARAM Vol II No. 350 Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM LEISURE CHEF CLAUDE BOSI MUMBAI SUNDAY, JANUARY 14, 2018 12 Pages, `8 SPOTLIGHT SLEEPLESS IN CYBERIA FINANCIALEXPRESS ON SUNDAY READ TO LEAD PUBLISHED FROM:AHMEDABAD, BENGALURU, CHANDIGARH, CHENNAI, HYDERABAD, KOCHI, KOLKATA, LUCKNOW, MUMBAI, NEW DELHI, PUNE Capital First to merge SC crisis: Resolve internally with IDFC Bank is consensus ● All-stock deal; V Vaidyanathan to be CMD of new entity PRIVATE-SECTORLENDER IDFC WORDSWORTH HOPE FOR THE FUTURE The future might look bleak, but keeping the faith has never been so important than in this age of post-truth Page 5 BankandCapitalFirst,aleading provider of debt to micro,small and medium enterprises and retail consumers, on Saturday said the two companies have agreed to merge their businesses to create a combined entity with assets under managementof`88,000croreanda customerbase of 50 lakh. The scheme of amalgamation, to be effective from April 2018, requires IDFC Bank to issue 139 shares for every 10 shares of Capital First, the two companies said in a joint statement.Thearrangement,which is subject to regulatory and shareholderapprovals,implies a discount of about 12% to IDFC Bank’s valuation, based on its market capitalisation of `23,019 crore on Friday. Followingthearrangement, existing shareholders of IDFC Bank and First Capitalwillretainownership shares of about 71.2% and 28.8%,respectively. Continued on Page 11 Combined entity will have following assets `88,000 crore 194 `1,268 crore 353 Assets under management Profit after tax (FY17) Vodafone/Idea 50 lakh Customer base Branch network Business correspondent outlets 9,100 ATMs ❝ This merger will bring tech-savvy, culturally aligned platforms to create a diversified and fast-growing universal bank with a national footprint — RAJIV LALL , MD & CEO, IDFC High land rentals threaten to hike fuel cost in Delhi SAURABH KUMAR New Delhi, January 13 ATATIME when rising fuel cost RESULT OF MERGER ❝ FE BUREAU, Mumbai, January 13 Today, one in three Internet users in the world is a child. But with no fixed regulatory mechanism to protect children from online dangers, how prepared are we to prevent their abuse? Page 7 ‘There’s no recipe for a Michelin star; just be consistently good’ Page 8 PRESS TRUST OF INDIA Kochi/New Delhi, January 13 JUSTICE KURIAN JOSEPH, one of the four senior Supreme Court judges who virtually revolted against the country’s chief justice over ‘selective’ case allocation and certain judicial orders, said Saturday there was no need for outside intervention to solve the problem. A day after he and the three other judges took the unprecedented step of addressing a press conference, JusticeJosephexpressedconfidence that the issues raised by them would be resolved. “An issue was raised.Those concerned have listened to it. Such actions would not occur in future.So (I) believe that the issue has been settled,”he told reporters in Kochi. Continued on Page 11 is already pinching customers across the country,Delhi users might cease to enjoy the benefit of paying the lowest prices formotorspirits among metro cities, as fuel retail outlets across the capital face the threat of higher rentals to be paid to the Delhi Development Authority (DDA). Whileoilmarketingcompanies (OMCs) are contesting DDA’s decision to increase the land rentals, effective 2007, in the Supreme Court, they have already paid 50% — around `600crore—oftheclaimmade, and the rest might have to be paid along with interest.A gov- ODD & EVEN Delhi development body puts fuel pumps under commercial category, demands higher rent ernment official said though OMCs have not yet passed on the cost to consumers, the moment lease rentals go up, prices will go up in Delhi.“Fuel pricingisformulabased.Tillthe refinerylevel,pricingisindexed ROHNIT PHORE with international prices, but after that it is cost plus taxes, transportation and other such costs added and passed on to consumers,” said the official. While the price of petrol in Delhi on Thursdaywas `70.66 perlitre,itwas`78.55inMumbai, `73.40 in Kolkata and `73.25 in Chennai. Almost90%ofthefueloutlets in Delhi are located on 'Asite', wherein land is procured byOMCsfromDDAandassetis built,whichisthenoperatedby a dealer. This is unlike other cities, where a 'B-site' is more common, wherein the dealer provides land and OMCs develop basic facilities and tankstobeoperatedbydealers. Continued on Page 11 QuickPicks Choppercrashes, 4 bodies found A Pawan Hans helicopter with five ONGC personnel and two pilots on board on Saturday crashed off the city coast while heading to an oil rig at Mumbai High. Four bodies have been found, a senior Coast Guard official said. PAGE 3
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