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Vodafone Idea partners with Sun TV Network

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Vodafone Idea and sunnxt cover

Telecom operator Vodafone Idea on Monday announced a strategic partnership with Sun TV Network, to strengthen content offering in southern India.

The partnership will offer customers of Vodafone Idea access to Sun NXT’s, Sun TV Network’s over-the-top platform, exclusive digital content.

“Sun TV Network’s OTT platform, Sun NXT, caters to Tamil, Telugu, Kannada and Malayalam audiences having over 50,000+ hours of content and will now be accessible to Vodafone Idea customers,” Vodafone Idea said in a statement.

With this partnership, Vodafone Idea has broadened its bouquet of regional content, the statement said, adding that Sun NXT would offer over 30 live TV channels, 4,000-plus movies and repository of TV shows, music videos and short format content on both Vodafone Play and Idea Movies & TV App.

 

Bank of India Q3 net loss widens to Rs 4,738 cr

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The Bank of India

State-owned Bank of India on Monday reported widening of its net loss to Rs 4,737.56 crore in the third quarter ended December 2018, hit by nearly two-fold jump in provisioning for bad loans. Its net loss was Rs 2,341.20 crore in the October-December period of 2017-18. However, the total income of the bank rose to Rs 11,839.53 crore during the reported quarter of 2018-19, as against Rs 10,376.03 crore in the same period a year ago.

Bank’s provisions for bad loans soared to Rs 9,179.48 crore in the December quarter, up from Rs 4,373.06 crore in the same period previous year. Although, the bank improved on its asset quality with the net non-performing assets (NPAs) trimming down to 5.87 per cent of the net advances as on December 31, 2018, as against 10.29 per cent by the end of December 2017.

Gross NPAs (or bad loans) were down slightly at 16.31 per cent of the gross advances from 16.93 per cent a year ago. In absolute terms, the gross NPAs of the bank stood at Rs 60,797.55 crore at end-December 2018 from Rs 64,248.58 crore a year ago period. Net NPAs were valued at Rs 19,437.35 crore as against Rs 36,117.23 crore.

“During the quarter ended December 2018, the bank has made additional provision of Rs 5,098.74 crore in view of uncertainty of recovery and deterioration in value of underlying assets in respect of 331 NPA accounts. In respect of RBI referred NCLT accounts (list 1 & 2), the bank has made a provision of Rs 572 crore during the quarter ended December 31, 2018, due to uncertainty of recovery. The provision held in respect of NCLT accounts stood at Rs 6,939.02 crore as on December 31, 2018, representing 100 per cent of the outstanding value,” it added.

Bank of India further said that there was a recovery of Rs 2,360.79 crore (including Rs 561 crore received in Bhushan Power and Steel Ltd) with respect to accounts referred to the National Company Law Tribunal (NCLT) as per the list 1 of the Reserve Bank. However, the resolution of NCLT accounts to lead to lower gross NPAs. Stock of the bank slumped 3.97 per cent at the close of business on BSE at Rs 90.60.

 

Maha cop suspended for showering notes on schoolgirls on R-day

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Web Team
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suspendedA constable was on Monday suspended after a video of him showering currency notes on schoolgirls performing at a Republic Day function in Nagpur in Maharashtra went viral on social media.

A senior Nagpur (rural) police official said constable Pramod Walke had been suspended for indiscipline for his note-showering act which took place at a Republic Day cultural programme in a zila parishad school in Nand village in the district’s Bhivapur taluka.

“Nagpur Rural police Superintendent of Police Rakesh Ola has suspended constable Pramod Walke and has initiated a departmental inquiry,” the official said.

Sebi provides clarity on lock-in period for warrants

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Web Team
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SEBIMarkets regulator Sebi on Monday provided clarity on the lock-in period required for unlisted warrants. The clarification has been given as part of an informal guidance sought by Jindal Steel & Power Ltd (JSPL) regarding the applicability of ICDR (Issue of Capital and Disclosure Requirements) with respect to such warrants.

JSPL had issued 4.8 crore warrants to Opelina Finance and Investment Ltd, one of the promoter group entity, on preferential basis in November 2017. A warrant is a derivative that gives the right, but not the obligation, to buy or sell a security, most commonly an equity, at a certain price before expiration.

To have a clarity on regulatory requirements with respect to the periodicity of lock-in of pre-preferential holding of the promoters’ shares in the case of allotment of warrants convertible into equity shares as well as whether the pre-preferential holdings of the promoters, which were put under lock-in can be released, the company sought an informal guidance from the Securities and Exchange Board of India (Sebi).

“The entire pre-preferential allotment shareholding of the allottees, if any, shall be locked in from the relevant date up to a period of six months from the date of trading approval. However, where the requirement of trading approval is not applicable to the warrants (i.e. where the holder of the warrants do not intend to list them within 18 months from the date of allotment), lock-in period shall commence from the relevant date and end on the expiry of six months from the date of allotment of the warrants,” Sebi said quoting ICDR norms.

While giving the guidance, the regulator also said that the view is based on the information furnished by the company and those different facts or conditions might lead to a different result.

 

 

HC fines woman, husband Rs 25 lakhs for breaching court orders

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Web Team
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HC 2The Bombay High Court has imposed a fine of Rs 25 lakhs on a woman and her husband for breaching court orders and threatening to file molestation charges against their case opponent and a court receiver.

Justice S J Kathawalla, in an order passed earlier this month, took objection to the attempt made by the woman, Neha Gandhi, to obstruct the court receiver and plaintiff from doing their job and threatening to file molestation charges against them.

The court was hearing an intellectual property right infringement suit filed by a pharmaceutical company ‘Sapat and Company’ against one Feel Good India, owned by Neha Gandhi and her husband, for copying their designs in packaging of cough syrup medicines.

“Time and again, it is noted with distress by the courts, that a socially enabling piece of legislation, is being grossly misused with impunity, by the very gender for whose empowerment it has been enacted, leaving the male/s facing grossly wrong and derogatory charges, which they have to thereafter defend themselves against,” the court said in its order.

The court said that such “gross and patent misuse” of a socially enabling piece of legislation has to be sternly condemned and dealt with a very stern hand.

On December 21, 2018, the HC by way of interim order restrained the defendant company (Feel Good India) from using the packaging design and directed a court receiver to seize all goods bearing the copied label mark from the defendant’s premises.

On January 7, the HC was informed by the court receiver and the plaintiff company that they were obstructed from seizing the goods by Neha Gandhi and her husband.

The court was informed that the woman had snatched the plaintiff company representative’s phone and also threatened to file a molestation case against the court receiver and the representative.

Taking note, the court directed the owners of Feel Good India to pay a penalty of Rs 25 lakhs.

“Rs 5 lakhs shall be paid to the plaintiff and the remaining shall be deposited in favour of any hospital,” the court ordered.

 

Nirupam exposes ‘traumatic reality’ of BMC’s HBT Trauma Care Centre

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Sanjay nirupamMumbai Congress President Sanjay Nirupam on Monday visited the Hindu Hruday Samrat Balasaheb Thackeray Trauma Care Municipal Hospital in Jogeshwari which is run by the BMC and witnessed the plight of the poor who look up to the civic-run hospitals for relief.

During his visit, Sanjay Nirupam found out that the number of doctors in the hospital is way too less than required for the smooth functioning of the hospital even though many posts are still vacant. Nirupam pointed out that despite having a lot of space available in the hospital, the patients are not provided with the best facilities as promised by the civic body.

Sanjay Nirupam interacted with the patients of the hospital who told him that the medicines prescribed by the doctors cannot be bought in the very hospital and the patients in turn are asked to buy the medicines from the market at a much higher price.

Sanjay Nirupam said, “Every worker in this hospital plays multiple roles. For instance, same person performs roles of a ward boy, a sweeper, a dresser and an ICU assistant. How can the BMC play with the lives of the poor who look up to this civic-run hospitals? The poor coming in this hospital for treatment don’t have access to medicines at a cheaper rate which is their right. The patients are suffering and the BMC needs to act on this at the earliest”.

The city Congress Chief was accompanied by the leader of opposition in the BMC Ravi Raja who questioned the civic body about their competence to build Balasaheb Thackeray’s statue while the condition of hospitals continues to deteriorate under its watch.

2 held in Mumbai in connection with Thane chain-snatching case

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Web Team
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arrest

Two alleged jewel thieves with cases against their names in several states in the country were recently arrested from Ghatkopar in neighbouring Mumbai, a Thane police official said on Monday.

They were wanted by police for a chain-snatching case that took place in Kalwa here on December 28 last year, said Thane Crime Branch senior inspector Nitin Thackeray.

Acting on a tip-off that the duo were hiding in a flat in Ghatkopar meant for rehabilitated slum-dwellers, a Thane police team raided the place and nabbed the duo last week, Thackeray said.

He identified them as Ghulam Abbas Shaikh (45) of Ghatkopar and Bhopal-resident Virendra Singh Rajput (27) and said they stole from jewellery shops after diverting the attention of the staff there.

“They have cases against their names in various states including Delhi, Rajasthan, Uttar Pradesh and Maharashtra. Our probe shows they are involved in at least 10 crimes leading to theft of over 2 kilogrammes of gold and 9 gram diamonds,” he said.

Investigating officer Aviraj Kurhade said the total value of jewellery stolen by then duo might be between Rs 70-80 lakh.

Govt promises Rs 42 crore for new government restroom at Kapurbawdi

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Web Team
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KapurbawdiA new state-of-the-art restroom will be built on the government land in Kapurbawdi. The proposal for a stay-in-house rest house has been sought for the last two years by MLA Adv. Niranjan Davkhare after which Public Works Minister Chandrakant Patil promised to provide a provision of Rs 42 crores for the rest house.

Over the last few years, there has been an increase in the number of officials, chiefs and officials coming to the government tour in Thane city. However, the government rest house at Court Naka was inadequate to accommodate the growing number of guests. A proposal to set up a new residence on the government plots in Kapurbawdi was pending from two years. On this backdrop, Davkhare met Principal Secretary Public Works Department Manoj Sounik on Friday. In this regard, he also held a meeting at the Secretariat level and requested for the approval of the proposal. In addition, the Minister of State for Finance demanded a fund of Rs 42 crores for the lodging house in the budget for Minister Sudhir Mungantiwar. Public Works Minister Chandrakant Patil too has promised to provide funds for the lodging house.

The 5-storey rest house will include 6 VIP rooms, 24 semi VIP rooms, 300 seater hall, restaurant, dormitory, dining hall, 110 parking spaces, rainwater harvesting in buildings, solar system, and garden.

 

 

Ranveer Singh’s ‘Doori’: A hard-hitting track with heart moving lyrics

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Web Team
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ranveer singingRanveer Singh and Alia Bhatt-starrer ‘Gully Boy’ is just a few weeks away from its release and the makers have unveiled yet another song from the film titled ‘Doori’.

Ranveer’s brilliant rapping skills are showcased beautifully in the song. He took to Twitter to share the melodious track, writing, “#Doori out now! #Gullyboy.”

The song has been sung by Ranveer, who perfectly captures the right emotions with his expressive eyes and fine rapping skills. The heart-touching lyrics penned by Javed Akhtar and rapper Divine, take listeners on a journey highlighting the harsh realities of life. The perfect tunes and music have been given by Rishi Rich.

The video of the song shows Ranveer recording the song while Alia sits outside the recording room, along with Ranveer’s other friends.

The rap song is intense and portrays the struggles of life and the realities that exist between the rich and the poor. With evocative lyrics, the song speaks about the differences witnessed in everyday lives and discusses serious societal issues.

The song is an immensely powerful one and will surely make way into your playlists!

Earlier, the makers had unveiled the songs ‘Apna Time Aayega’, ‘ Asli Hip Hop’ and ‘ Mere Gully Mein’ which received overwhelming responses from the audience.

‘Gully Boy’ is inspired by the lives of Mumbai street rappers Vivian Fernandes aka Divine and Naved Shaikh aka Naezy. The film is directed by Zoya Akhtar and is set to release on Valentine’s Day, February 14.

Apart from this, Ranveer and Alia will also be seen in Karan Johar’s upcoming directorial ‘Takht’. The period drama also stars Kareena Kapoor Khan, Janhvi Kapoor, Vicky Kaushal and Bhumi Pednekar in pivotal roles.

Tata Steel Masters: Anand finishes joint third after drawing with Gujrathi

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Web Team
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Anand 1Five-time world champion Viswanathan Anand had to be content with a joint third place finish following a draw with compatriot Vidit Gujrathi in the 13th and final round of the Tata Steel Masters.

With three victories, a lone loss against winner Magnus Carlsen of Norway and nine draws, Anand ended the event on 7.5 points and will add six points to his existing rating. He is now sixth in world rankings.

Carlsen expectedly won the event after drawing rather easily with Anish Giri of Holland in the final round.

Leading by a half point over Giri, Carlsen started the day with black pieces and went for his recent pet Sveshnikov Sicilian.

Giri admitted he had not looked so deep and at one point sacrificed an exchange to spice things up.

Carlsen, who scored 9 points, thought if anyone was better it was black but simply chose a safer option to close the event. This was Carlsen’s seventh victory in the super tournament. Anand has won this event five times earlier.

The second place went to Giri who ended on 8.5 and it was a three-way tie for the third place shared by Ian Nepomniachtchi of Russia, Ding Liren of China and Anand respectively.

Gujrathi also proved that his elevation to the top group was not a flash in the pan as he ended a creditable sixth on 7 points.

Gujrathi lost two, won three and drew the remaining eight games. This result will also help the Nasik-based player to climb back in the 2700 rating club that he had temporarily left.

The final day did not provide much excitement. Anand opened with the king pawn and faced the Petroff defense which was also used by Jan Krzysztof Duda of Poland just a couple of days’ back.

Anand went for an old variation, resulting in a symmetrical pawn structure and Gujrathi equalized without much ado. The players decided to sign peace in 30 moves vide repetition.

Young Indian Grandmaster R Praggnanandhaa ended 11th after drawing his final round game with Dinara Saduakassova of Kazakhstan.

 

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