JAYPEE GROUP COMES FORWARD TO PURGE YAMUNA, FUTURE GROUP AGREES TO SUPPORT START UPS, IFCI VENTURE CAPITAL FUNDS DECLINES THE JOB

JAYPEE GROUP COMES FORWARD TO PURGE YAMUNA, FUTURE GROUP AGREES TO SUPPORT START UPS, IFCI VENTURE CAPITAL FUNDS DECLINES THE JOB

JAYPEE GROUP COMES FORWARD TO PURGE YAMUNA, FUTURE GROUP AGREES TO SUPPORT START UPS, IFCI VENTURE CAPITAL FUNDS DECLINES THE JOB

 

No.PR-50
July 1, 2015
New Delhi

 

JAYPEE GROUP COMES FORWARD TO PURGE YAMUNA, FUTURE GROUP AGREES TO SUPPORT START UPS, IFCI VENTURE CAPITAL FUNDS DECLINES THE JOB
 

While the Jaypee Group on Wednesday offered to cleanse the river Yamuna within a five year time span, the Future Group on the other hand ventured to support start ups with a selective approach while IFCI Venture Capital Funds Limited declined to fund start ups ventures, arguing that it has yet to gear up for the job.
 

The founder Chairman of Jaypee Group Mr. Jaiprakash Gaur in his address at a Conference on Power Lunch with IFCI Ltd. under the aegis of PHD Chamber of Commerce and Industry here today said, “I can purge the Yamuna river of its filth and effluents and garbage provided given a free hand latest by 2020”.
 

“Authorities need to shed their hypocrisies in executing public policies and allow industries a free hand to undertake a public cause such as cleansing the river Yamuna which can be done within a time span of five years with a transformational approach”, said Mr. Gaur.
 

The Group CEO of Future Group Mr. Kishore Biyani inspired by deliveries of the patriarch of the Jaypee Group Mr. Gaur offered financial packages to young and bright start ups to support their ventures with disruptive ideas though on case to case basis provided such ideas appeal to the management of the Future Group.

 

IFCI Venture Capital Funds Limited Managing Director Mr. Shivendra Tomar, however, declined to fund the start ups, pointing out that currently its mandate is to offer venture funds for schedule caste only.
 

He, however, added that in course of time, the company could entertain such proposals as to fund the ventures of start ups depending upon their viability in future.
 

The Chief Executive Officer and Managing Director, IFCI Limited Mr. Malay Mukherjee in his key note address said that the company had asked the government to allow it to raise tax free bonds to finance the mega projects.
 

The company would continue to support the developmental finances for the needs of the country as and when required and meet all legitimate aspirations of all its clintage.
 

The discussions of the Power Lunch were moderated by the President of the Chamber Mr. Alok B. Shriram in the presence of its Sr. Vice President and Vice President Mr. Mahesh Gupta and Gopal S Jiwarajka.
 

Among other who spoke on the occasion comprised Deputy Managing Director, IFCI limited Mr. Achal Kumar Gupta and Chairman & Co-Chairman, Banking Committee, PHD Chamber Mr. Sanjeev Gupta & Mr. Ashish Agrawal.
 

ENDS

Koteshwar Prasad Dobhal
Consultant (PR)