4 Indian Bank officials sent to 3 years’ rigorous imprisonment in loan scam case

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September 17, 2022

A special CBI court in Chennai has sentenced four senior Indian Bank officials and two others to three years’ rigorous imprisonment with a Rs 10,000 fine each in a Rs 30 crore loan scam. The CBI court said Aziz, then Chief Manager, GV Srinivasan, then Senior Manager, Muthiah, then Senior Manager and S Arunachalam, then General Manager, all of Indian Bank, will undergo three years’ rigorous imprisonment with fine of Rs 10,000 each and Ranjiv Batra and his wife Kiran Batra of M/s Kiran Overseas Ltd (both residents of Chennai) to undergo 37 months’ rigorous imprisonment with fine of Rs 10,000 each.

The court has also imposed a fine of Rs 10,000 each on M/s Kiran Overseas Ltd, Chennai and M/s Kiran Overseas Ltd, Delhi. CBI had registered a case on a complaint from Indian Bank against the accused on the allegations that the accused including M/s Kiran Overseas Ltd and its Directors; officials of Indian Bank and others had caused huge loss to Indian Bank, Thousand Lights Branch, Chennai by cheating and forgery.

It was further alleged that the accused, in pursuance of the conspiracy submitted false and forged documents. The loan amount was released by the officials of Indian Bank without any approval/sanction and without securing the financial interests of Indian Bank.

The accused failed to repay the loan, causing a loss of Rs 39.18 crore to Indian Bank. After the investigation, a chargesheet was filed against the accused. During the trial, four accused public servants of Indian Bank including the former Chairman and Managing Director died. Hence the charge against them had been abated. The trial court found the said accused guilty and convicted them.

Iran’s Chabahar port crucial for landlocked Afghanistan trade

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ANI

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September 17, 2022

Landlocked Afghanistan faces many issues related to trade as it has to cross Iran or Pakistan to reach water ports as the seaports accelerate the rate of international trade and act as an inhibitor in trade cost. Mirza Ahmad Ebrahimi, a PhD research scholar writing in Khaama Press in an op-ed page analysed Afghanistan’s two options, Chabahar or Karachi seaport.

Chabahar seaport via Iran was found to be the utmost sustainable one as a trade route. To connect Afghanistan with Iran’s Zabul province for smoothing and accelerating goods movement, the Delaram-Zaranj Highway with a 218 km roadway in the Nimruz province was designed and constructed by the government of India at the request of Afghanistan and cost USD 175 million.

Zabul province in Iran is well-connected by road to the Port of Chabahar. It is one of the busiest roads in Afghanistan and provides an important trade route between Afghanistan, Iran, and the rest of Asia, said Ebrahimi.

Chabahar road is much shorter and more stable than any of the routes in Pakistan, making it perhaps the most efficient means that Afghan traders can reach the final destination for their exports, where 80 per cent of Afghanistan’s cargo traffic now lies.

Furthermore, the Chabahar route paves the opportunity to access two countries’ markets with a population of 1.4 billion rather than one country with a population of 200 million people.

Zabul province in Iran is well-connected by road to the Port of Chabahar. It is one of the busiest roads in Afghanistan and provides an important trade route between Afghanistan, Iran, and the rest of Asia, said Ebrahimi. Chabahar road is much shorter and more stable than any of the routes in Pakistan, making it perhaps the most efficient means that Afghan traders can reach the final destination for their exports, where 80 per cent of Afghanistan’s cargo traffic now lies.

Furthermore, the Chabahar route paves the opportunity to access two countries’ markets with a population of 1.4 billion rather than one country with a population of 200 million people.

Felix Auger-Aliassime defeats World No. 1 Carlos Alcaraz

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ANI

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September 17, 2022

Felix Auger-Aliassime bagged one of the biggest wins of his career on Friday as he defeated new World No. 1, Carlos Alcaraz, in Davis Cup action, before returning to the court in doubles to help Canada past Spain 2-1.

Auger-Aliassime produced a stunning performance to clinch the match 6-7(3), 6-4, 6-2 against Carlos Alcaraz. The 19- year-old Alcaraz fought valiantly but was unable to close out the tie.

The World No. 13 saved all seven break points he faced to level Canada’s tie against Spain at 1-1 after two hours and 50 minutes.

Auger-Aliassime carried his momentum into the doubles, in which he partnered Vasek Pospisil past Marcel Granollers and Pedro Martinez 4-6, 6-4, 7-5. In the first match of the tie, Roberto Bautista Agut had made a good start for Spain when he rallied past Vasek Pospisil 3-6, 6-3, 6-3.

Moreover, Matteo Berrettini and Jannik Sinner, both of whom competed in the 2021 Nitto ATP Finals, displayed their great strength on Friday to help Italy defeat Argentina. Berrettini defeated Sebastian Baez 6-2, 6-3 to give Italy the advantage before Sinner took the court in Bologna, where he delivered a 7-5, 1-6, 6-3 triumph against Francisco Cerundolo.

The group stage of the 2022 Davis Cup finals will take place across four cities – Bologna, Glasgow, Hamburg and Valencia – from September 13-18. The top two teams in each group will progress to the knock-out stage. The knock-out stage will take place in Malaga from November 22-27.

Mizoram police recovered heroin of Rs 1.87 crore one held

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Web Team

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September 17, 2022

Mizoram police seized 374 grams of heroin worth Rs 1.87 cr on friday night in Aizawl. Police have arrested a 43 year woman and recovered drugs.

According to the police, a special narcotics team recovered and seized 374 grams (29 soap cases) of heroin from the possession of Rohlupuii (43) of Champhai near 1st MAP playground, Armed Veng, Aizawl on Friday night.

China blocks proposal at UN to designate LeT terrorist Sajid Mir as ‘global terrorist

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ANI

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September 17, 2022

Mastermind of 2008 Mumbai terrorist attacks Lashkar e Taibas LeT Sajid MIr — Mastermind of 2008 Mumbai terrorist attacks, Lashkar-e-Taiba’s (LeT) Sajid Mir

China on Friday (local time) once again put a hold on a proposal moved at the United Nations by the US and co-supported by India to designate Lashkar-e-Taiba (LeT) terrorist, Sajid Mir as a “global terrorist.”

He is India’s most wanted terrorist and was involved in the 2008 Mumbai attacks. The US moved the proposal and co-designated by India to blacklist Mir under the 1267 Al-Qaeda Sanctions Committee of the UN Security Council as a global terrorist.

It is the third time that China has blocked an India-US proposal in recent months after Abdul Rehman Makki, LeT and Jamaat-ud-Dawa (JuD) leader as well as Abdul Rauf Azhar, the brother of Jaish-e Mohammed (JEM) chief Masood Azhar was protected by Beijing. Abdul Rehman Makki is a LeT Deputy Commander and brother-in-law of Hafiz Saeed, founder of the LeT.

The UN Committee has also declared JuD, the political branch of the LeT, a terrorist front group. Resolution 1267 provides for sanctions against individuals and entities that support or finance the acts or activities of ISIL, Al-Qaida, associated individuals, groups, undertakings and entities. Sajid Mir is a top Lashkar-e-Tayyiba (LeT) Commander and is in charge of the “India Setup” of LeT. Sajid Mir is one of the masterminds of the Mumbai Terror Attack (November 26, 2008).

He was responsible for the largest ever overseas LeT terror attack resulting in the death of nationals of several countries including India and Western countries.

During the attack, 175 people were killed (18 Police personnel, 122 people, 26 Foreigners and 9 terrorists) and 291 were injured ( 25 Police personnel, 243 people, 22 foreigners and one terrorist Ajmal Kasab). Mir was LeT Project Manager for the November 2008 Mumbai terror attacks.

He, through satellite phone, instructed the terrorists involved in the attacks for executing hostages during the operation. He is also actively involved in the launching of LeT operatives into India.

He looked after the security of Zaki-ur-Rehman Lakhvi (LeT Operations Chief), responsible for anti-India terror operations. Sajid Mir was involved in overseas recruitment/training activities for LeT and travelled to UAE, Bangladesh, Canada, Sri Lanka, Maldives and Saudi Arabia in Connection with operational work.

Pune’s controversial tantra camp for navratri canceled

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Web Team

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September 17, 2022

Pune police on Wednesday registered a FIR against person for allegedly sharing an advertisement on social media on Sex tantra camp to be organizied during Navratri festival.

The controversial advertisement said a Navratri Special camp is being organised to offer a 3 days and 2 nights course “Sex Tantra” under Satyam Shivam Sundaram foundation in Pune.

The Social Service unit of Pune Police took the matter seriously and registered an FIR against a person named Ravi Singh, a resident of Uttar Pradesh’s Prayagraj, for allegedly sharing this controversial advertisement on social media.

On questioning Singh said he was contracted to post such advertisements on social media by Satyan Shivam Sundaram foundation of UP.

6 dead 20 injured in truck bus collision

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Web Team

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September 17, 2022

Six persons died and over 20 were critically injured after a coal loaded truck hit a bus near Rourkela bypass on Jharsuguda-Sambalpur Biju Expressway.

The bus was carrying employees from JSW plant Jharsuguda town. This incident took place when the employees were coming back after completing their work.

According to media reports around 6 died in this serious accident and 20 got injured. The injured have been shifted to hospital.

“6 dead, over 20 injured as a bus carrying employees of a company met with an accident in Jharsuguda after a coal-laden truck collided with the bus. Most employees are severely injured. 10 people have been referred to a hospital in Burla, Sambalpur while 14 under treatment here,” Jharsuguda Deputy Superintendent of Police N Mohapatra told agencies.

Maha school education minister Deepak Kesarkar states “Children should not be overburdened with homework”

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Web Team

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September 16, 2022

Deepak Kesarkar, School Education Minister | Image : PTI

On Friday Maharashtra’s School Education Minister Deepak Kesarkar has stated that education should be provided in such quality there is no way of giving homework to the children.

He has stated that that will speak to the leaders in regards to issue of the education in the system and also children should not be “overburdened”.

As per the reports minister also stated that “Homework should not be excuse for teachers and the syllabus which is been taught should be taught with full concentration that it does not need any homework”.

The minister also stated that these are his opinion towards the education system and given to the children in the school.

Deepak Vasant Kesarkar is a member of the Maharashtra legislative Assembly. He is also been elected as Cabinet Minister for Ministry of Education.

RBI article favours fronloading of monetary policy action

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PTI

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September 16, 2022

An RBI article on Friday favoured frontloading of monetary policy actions, such as interest rate hikes, to contain inflationary pressures without sacrificing medium-term economic growth prospects.

The article titled ‘State of the Economy’ comes two weeks ahead of the next bi-monthly monetary policy review on September 30 when it is widely expected that the central bank will go for another rate hike.

The RBI, however, said the opinions expressed in the article are those of the authors and do not represent the views of the Reserve Bank of India (RBI).

Loss of momentum in global economic activity may be taking the edge off inflation, which remains elevated, said the article by a team lead by RBI Deputy Governor Michael Debabrata Patra.

The Indian economy is poised to shrug off the modest tapering of growth momentum in the first quarter of 2022-23, it added.

Aggregate demand is firm and poised to expand further as the festival season sets in. Domestic financial conditions remain supportive of growth impulses, the article noted.

“Inflation remains elevated and above the tolerance level, underscoring the need for monetary policy to keep second order effects contained and inflation expectations firmly anchored,” the authors said.

The retail inflation cut short its three-month declining trend and inched up to 7 per cent in August, mainly due to higher food prices.

The consumer price index (CPI) based inflation, which the RBI factors in for its monetary policy, has remained above its upper threshold of 6 per cent for eight months in a row.

Based on the recommendations of the RBI Governor-headed Monetary Policy Committee (MPC), the central bank has already raised the key short-term lending rate by 140 basis points in three tranches since May this year to check inflation.

The next meeting of the MPC is scheduled during September 28-30, 2022.

The article said there is a resurgence of food price pressures, mainly stemming from cereals.

On the food front, there is also a need to brace for the impact of the predicted delayed withdrawal of the monsoon, it said.

The article also mentioned the huge uncertainty surrounding energy prices in spite of the recent softening. It said India’s USD 750 billion export target for the current fiscal is appearing within reach.

At this critical juncture, the authors said, monetary policy has to perform the role of nominal anchor for the economy as it charts a new growth trajectory. The focus should be on being time consistent in aligning inflation with the target.

“In this context, front-loading of monetary policy actions can keep inflation expectations firmly anchored and reduce the medium-term growth sacrifice,” they said.

The article noted that we live in times of conflicting possibilities — elevated inflation and rising recession risks; economic stagnation and increasing debt; strengthening US dollar and weakening currencies in the rest of the world; easing supply chain pressures and reshoring; synchronisation in policy actions and deglobalisation; and balance sheet normalisation and liquidity stress.

The Indian economy continued to tread a path of recovery in 2022-23 in spite of some loss of momentum due to global headwinds, it added.

AAP MLA Amanatullah Khan arrested in Delhi Waqf Board corruption case

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ANI

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September 16, 2022

Aam Aadmi Party MLA Amanatullah Khan was arrested by Anti-Corruption Bureau on Friday in connection with the Delhi Waqf Board corruption case on the basis of the recovery of incriminating material and evidence against him during the searches conducted today.

Searches were conducted on four locations related to the AAP MLA and his business partner. A weapon was found at one of the locations. It is learnt that he could not show any license of the recovered arms (Breta Pistol).

The searches were also conducted at the location of his partner Hamid Ali Khan Masood Usman at Gafoor Nagar. Cash worth Rs 12 lakhs were also recovered, according to the ACB.

Earlier today, the ACB had summoned Khan in connection with the case which pertains to financial misappropriation and other irregularities in the functioning of the Delhi Waqf Board. According to the officials, a total of Rs 24 lakh in cash was recovered along with two illegal weapons.

“In Delhi Waqf Board corruption case, Anti-Corruption Branch conducted raids at various places related to Delhi AAP MLA Amanatullah Khan&his business partners. A total of Rs 24 lakh in cash,2 illegal arms and ammunition were recovered from two of his associates, earlier today,” said the ACB officials.

According to an official statement, Khan while working as Chairman of Delhi Waqf Board illegally recruited 32 persons violating all norms and Government guidelines and with allegations of corruption and favouritism.

“The then CEO of Delhi Waqf Board had clearly given a statement and issued a memorandum against such illegal recruitment. Further, it is alleged that as Chairman of Delhi Waqf Board Amanatullah Khan has rented out a number of properties of Delhi Waqf Board illegally with allegations of corruption and favouritism. Further, it has been alleged that he has misappropriated the funds of the Delhi Waqf Board comprising grants in aid from Delhi Government,” it said.

The statement further said that four locations were searched based on the inputs received while questioning and on the basis of information developed by the Anti-Corruption Branch.

“From these locations, around Rs 24 Lakhs cash has been recovered and 2 illegal and unlicensed weapons and cartridges and ammunition were also recovered. Also, at one of the locations i.e. outside the residence of Amanatullah Khan, the search team consisting of an ACP was attacked by the relatives and other known persons of Amanatullah Khan and they also caused obstruction in the discharge of Govt. duty to ACB officers,” it said.

Accordingly, two FIRs have been registered by Anti-Corruption Branch, Delhi in South-East District pertaining to the recovery of illegal weapons and one FIR relating to manhandling of the Police party by relatives of Amanatullah Khan.

“From the questioning of Amanatullah Khan and on the basis of incriminating material and evidence against him and from the recovery during the searches conducted today i.e. on September 16, Amanatullah Khan has been arrested in the case,” it added. Further investigation is underway.