Azim Premji gives half of his stake in Wipro for charity

July 9, 2015

Bengaluru, Jul 8: Economic value is sustainable only if created on a foundation of ethics and responsibility, say the IT czar

IT czar Azim Premji has given away almost half of his stake holding in Wipro, India’s third largest exporter of software services, to philanthropy.

azim premji
The Wipro’s billionaire founder has given away an additional 18 per cent of his stake in the IT Company for charity, thus earmarking 39 per cent of stake (worth Rs 53,284 crore) for a charitable trust.

The latest philanthrophic initiative by Premji would pump in an additional Rs 530 crore by way of dividends into the Azim Premji Trust’s corpus this year.

69-year old Premji is the first Indian to sign the Giving Pledge, sponsored by billionaires Warren Buffett and Microsoft co-founder Bill Gates to invite the world’s wealthiest to donate majority of their wealth to charity.

“Over the past fifteen years, I have tried to put this belief into action through my personal philanthropic work...,” Mr. Premji said in a letter to shareholders published in the company’s annual report for the year ended March 2015.

Mr. Premji said, “Over these years I have irrevocably transferred a significant part of the shareholding in Wipro, amounting to 39 per cent of the shares of Wipro, to a Trust (of which ownership in 21.14 per cent was transferred and for the balance the Trust is entitled to beneficial interest of dividends and sale proceeds).”

The previously transferred 21 per cent stake was estimated at USD 4.3 billion. The promoter group led by Mr. Premji holds 73.39 per cent stake in Wipro.

Mr. Premji was considered the ‘most generous Indian’ of 2014 according to the Hurun India Philanthropy List.

He said the Trust supports the work of The Azim Premji Foundation and Azim Premji Philanthropic Initiative and thus a very significant part of the value created by Wipro, goes towards social causes.

Mr. Premji also stated in the report that economic value is sustainable only if created on a foundation of ethics and responsibility.

“For us, this is the driving force in the form of our values and is something that we will continue to remain completely committed to,” he added.

The company’s Social and Sustainability Initiatives are driven by the conviction that corporations should play a significant role in contributing to building a better society, Mr. Premji said.

“The owners — individuals or other entities — of such corporations can do a lot more for society, because they can choose to exercise the right of their ownership, and invest their wealth in any social cause, to their utmost,” he said.

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News Network
December 4,2025

Udupi: A 40-year-old NRI from Udupi has reportedly lost more than Rs 12.25 lakh in an online investment scam operated through Telegram.

According to a complaint filed at the CEN police station, Leo Jerome Mendonsa, who has been working in Dubai for the past 15 years in computer accessories sales, maintains NRI accounts in Karkala and Nitte.

On November 12, 2025, Mendonsa was added to a Telegram group called Instaflow Earnings by unknown individuals. Users identified as Priya and Dipannita persuaded him to invest in “Revenue Tasks.” Initially, Mendonsa transferred Rs 1,100 multiple times and received the promised returns, encouraging him to continue.

On November 14, another user, Nishmitha Shetty, directed him to register on a website, digitvisionuoce.cc, and invest Rs 4 lakh in various shares. Over the next few days, he made multiple transfers totaling Rs 12,25,000, including Rs 50,000 via Google Pay, believing the scheme was legitimate.

After receiving the money, the alleged handlers stopped responding, and neither the invested amount nor the promised profits were returned.

The CEN police have registered a case under Sections 66(C) and 66(D) of the IT Act and Section 318(4) of the Bharatiya Nyaya Sanhita (BNS), and investigations are ongoing.

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News Network
December 2,2025

Puttur: The long-cherished dream of a government medical college in Puttur has moved a decisive step closer to reality, with the Karnataka State Finance Department granting its official approval for the construction of a new 300-bed hospital.

Puttur MLA Ashok Kumar Rai announced the crucial development to reporters on Monday, confirming that the official communication from the finance department was issued on November 27. This 300-bed facility is intended to be the cornerstone for the establishment of the government medical college, a project announced in the state budget.

Fast-Track Implementation

The MLA outlined an aggressive timeline for the project:

•    A Detailed Project Report (DPR) for the hospital is expected to be ready within 45 days.

•    The tender process for the construction will be completed within two months.

Following the completion of the tender process, Chief Minister Siddaramaiah is scheduled to lay the foundation stone for the project.

"Setting up a medical college in Puttur is a historical decision by the Congress government in Karnataka," Rai stated. The project has an estimated budget allocation of Rs 1,000 crore for the medical college.

Focus on Medical Education Department

The MLA highlighted a key strategic move: requesting the government to implement the hospital construction through the Medical Education Department instead of the Health and Family Welfare Department. This is intended to streamline the entire process of establishing the full medical college, ensuring the facilities—including labs, operation theatres, and other necessary infrastructure—adhere to the strict guidelines set by the Medical Council of India (MCI). The proposed site for the project is in Bannur.

Rai also took the opportunity to address political criticism, stating that the government has fulfilled its promise despite "apprehensions" and "mocking and criticising" from opposition parties who had failed to take similar initiatives when they were in power. "Chief Minister Siddaramaiah has kept his word," he added.

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News Network
December 2,2025

Mangaluru, Dec 2: Mangaluru International Airport responded to a medical emergency late on Monday night. Air India Express flight IX 522, travelling from Riyadh to Thiruvananthapuram, was diverted to Mangaluru Airport after a passenger in his late 30s experienced a medical emergency on board.

The Airport’s Operations Control Centre received an alert regarding the passenger’s health condition. The airport activated its emergency response protocol, mobilising the airport medical team and coordinating with stakeholders including CISF, immigration, and customs. 

Upon landing, airport medical personnel attended to the passenger, assessed his condition, and arranged to shift him to a local tertiary-care hospital for further treatment. The passenger’s relatives accompanied the passenger, who incidentally received necessary medical care on board, which helped stabilise the situation.

Following the handling of the emergency, the flight departed for Thiruvananthapuram at 2:05 am on Tuesday.

"We appreciate the cooperation of all parties involved, and this incident reaffirms our ongoing commitment to prioritising passenger safety and readiness to respond to unforeseen emergencies with professionalism and care," the Airport spokesperson said. 

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