Adani Power Gets Shareholders’ Nod To Raise Up To Rs 10,000 Crore

Adani Power Gets Shareholders' Nod To Raise Up To Rs 10,000 Crore

New Delhi: Adani Power on Wednesday said it has received approval of its shareholders to raise up to Rs 10,000 crore through equity shares or other instruments like GDRs and debentures.

The special resolution was passed by the shareholders at the company’s annual general meeting held on August 9, 2016, it said in a filing to the BSE.

The shareholders also passed a resolution to hike the firm’s borrowing limit to Rs 45,000 crore from Rs 35,000 crore.

Earlier, shareholders had approved the borrowing limit of Rs 35,000 crore in excess of and in addition to the paid up capital and free reserves of the company at the AGM held on August 9, 2014.

The shareholders also approved a proposal to invite subscription by making one or more offers through redeemable secured/unsecured non-convertible debentures in one or more tranches during the year.

 

[Source  NDTV]

Sistema Share Transfer Proposal Rejected By Investment Board

Sistema Share Transfer Proposal Rejected By Investment Board

New Delhi: The Foreign Investment Promotion Board (FIPB) has rejected a proposal by Sistema Shyam TeleServices for exit of resident shareholders in the company and transfer of their holdings to existing foreign shareholders.

In all, inter-ministerial body FIPB rejected four foreign investment proposals and deferred decision on five applications.

Sistema Shyam TeleServices had sought approval of FIPB for the exit of resident shareholders and transfer of their holdings to existing foreign shareholders – M/s Sistema Joint Stock Financial Corporation, Russia and Federal Agency for the State Property Management (Rosimushchestvo), FIPB said.

The approval would have resulted in increasing of the foreign shareholding in the company from 73.95 per cent to 100 per cent and consequently, hike in foreign shareholding in its downstream company Shyam Internet Services Ltd to 100 per cent.

No immediate comments were received from Sistema Shyam TeleServices.

The FIPB, in its July 12 meeting, also rejected investment proposals of Mount Kailash Shipping, Rev India and G4S Cash Solutions.

It only approved one proposal -by Janalakshmi Financial Services, which had sought nod for swap of shares.

The proposals on which decisions were deferred include those of Quintillion Business and Morgan Stanley Primary Dealer.

 

[Source  NDTV]

Telecom Department Suspends Spectrum Sharing Till Auction Concludes

Telecom Department Suspends Spectrum Sharing Till Auction Concludes

New Delhi: The Department of Telecom (DoT) has ‘suspended’ spectrum sharing, trading and liberalisation activities till provisional results of the upcoming spectrum auction are declared.

“The Spectrum Trading Guidelines… would remain suspended during the time of conduct of auction i.e. from the date of issue of NIA for auction of spectrum to the date of publishing of provisional result of the auction,” the amended spectrum sharing and trading guidelines said on Wednesday.

Similarly, DoT has suspended spectrum sharing and liberalisation activity as well. The move may impact merger of Reliance Communications with Sistema Shyam Teleservices as well as RCom and Aircel to some extent.

According to the sources, this move by the government is to ensure that upcoming spectrum auction, in which airwaves worth Rs 5.63 lakh crore is being put for sale, attracts good interest from bidders.

The rounds are scheduled to start from September 29. There is no certainty when will auction end. In 2010, bidding rounds for 3G spectrum closed after 34 days.

The government expects to get around Rs 64,000 crore from the sale of airwaves this fiscal year.

However, experts feel that the upcoming auction will see moderate participation.

“This could in view of calculating spectrum cap. It would be difficult to assess if a company is bidding in the auction and simultaneously engaged in spectrum trading or sharing deal,” Khaitan & Co LLP associate partner Harsh Walia said.

ICRA expects moderate participation in the auction that fetch government bids worth around Rs 60,000-65,000 crore and elevate the industry debt level to around Rs 4.7 lakh crore from the current level of Rs 4.1 lakh crore.

 

[Source  NDTV]

2 Killed In An Accident On Yamuna Expressway

2 Killed In An Accident On Yamuna Expressway

GREATER NOIDA: Two persons were killed today when a truck hit a heavy vehicle on Yamuna Expressway, police said.
As the truck, transporting clothes from Kanpur to Delhi, reached Jewar, a heavy vehicle moving ahead suddenly applied brakes, leading to a collision between the two vehicles.

The truck’s driver P Yadav and cleaner Pradeep Kumar were rushed to a nearby hospital where doctors declared them brought dead. Their bodies have been sent for post-mortem.

P Yadav was a resident of Mainpuri and Pradeep hailed from Faridabad.

 

[Source  NDTV]

African National Congress Suffers Major Poll Defeat In South African Capital

African National Congress Suffers Major Poll Defeat In South African Capital

 

HIGHLIGHTS
  1. Loss of Pretoria comes on top of ANC conceding defeat in Port Elizabeth
  2. It has prompted speculation over the long-term impact on Jacob Zuma
  3. At the national level ANC remains the nation’s top party

JOHANNESBURG: South Africa’s ruling African National Congress (ANC) suffered a historic defeat in the country’s capital to the opposition Democratic Alliance (DA) in local elections, the electoral commission said today.

In Tshwane, the metropolitan area that includes Pretoria, DA won 43.1 percent of the vote over the ANC’s 41.2 percent, according to final results in elections highlighting the declining popularity of the party that led the anti-apartheid struggle.

The loss of Pretoria comes on top of the ANC conceding defeat on friday in Port Elizabeth, a key battleground of Wednesday’s municipal election.

Defeat in Port Elizabeth by a margin of 46.7 to 40 percent was a humiliating blow for the ANC as the municipality is officially known as “Nelson Mandela Bay” in tribute to its past as a hotbed of anti-apartheid activism.

The showings have prompted speculation over their long-term impact on President Jacob Zuma.

At the national level ANC remains the nation’s top party. However, the party Mandela once headed has seen a slump in support after landing a national tally of 58.3 percent of votes, a plunge of eight points from 2011.

DA leader Mmusi Maimane hailed the result as a landmark for his party.

“This is a tipping point for the people of South Africa,” he said. “This represents for all of us the fact that we are a party not only of opposition but of government.”

Turnout was about 58 percent as voters chose mayors and other local representatives responsible for hot-button issues including water, sanitation and power supplies.

Problems providing such basics trigger regular and sometimes violent “service delivery” protests in South Africa, where harsh socio-economic divisions remain a grim legacy of the apartheid era.

The setback to the ANC “happened quicker and harder than everyone thought! It’s a shocker for everyone,” said independent political analyst Ralph Mathekga of the worst poll result for the party since the end of white-minority rule 22 years ago.

Vice-president and party deputy leader Cyril Ramaphosa said the ANC would heed the electorate’s message.

“Clearly our people are sending out messages all around, we are going to listen very, very carefully. We are a listening organisation, we are going to listen to our people,” said Ramaphosa.

Ahead of final results, the ANC was still struggling to hold on to its outright majority in Johannesburg, the country’s economic centre.

Zuma Future In Focus

The position of Zuma, 74, as head of state is coming under question even though his mandate still has three years to run after a poll widely seen as a referendum on a leader plagued by scandals since taking office in 2009.

One revolves around his using $500,000 of public money to refurbish his private home in Kwazulu-Natal, money the Constitutional Court says he must repay.

Maimane, the DA’s first black leader, had indicated before results began to come in that the polls were good for democracy.

“It says the democratic process is working,” he said on friday.

An unemployment rate of 27 percent and zero GDP growth forecast for this year have added to Zuma’s woes as frustration builds among poor black communities seeing scarce improvements since apartheid fell.

However, Zuma, jailed on Robben Island with Mandela during apartheid, retains deep loyalty inside the ANC and in many rural areas, although he cannot stand for a third term.

“A battle in the party could emerge from these poor results and ANC would have to find a dignified exit strategy for Zuma,” independent political analyst Daniel Silke told AFP.

Poor economic stewardship added to voter dissatisfaction, Silke added.

Despite its strong showings in Port Elizabeth and Pretoria the DA will need coalition partners, which Silke sees as problematic.

One potential partner is radical leftist Economic Freedom Fighters (EFF).

But “I don’t think EFF is the best coalition partner for DA as they are diametrically opposed on every issue — it could be unstable,” said Silke.

The EFF, led by former ANC man Julius Malema, was being credited as winning around eight percent and surpassing 10 percent in Pretoria and Johannesburg.

Pending final returns from several Johannesburg polling stations the electoral commission was set to announce final results around 1600 GMT.

 

[Source  NDTV]

Provide Help To Indian Prisoner Lodged In Pak Jail: Sushma Swaraj To Envoy

Provide Help To Indian Prisoner Lodged In Pak Jail: Sushma Swaraj To Envoy

NEW DELHI: External Affairs Minister Sushma Swaraj has directed the Indian High Commissioner in Pakistan to seek consular access to an Indian prisoner who was attacked at least thrice by inmates in a Peshawar jail.
Hamid Nehal Ansari, a Mumbai resident arrested in 2012 for illegally entering Pakistan from Afghanistan reportedly to meet a girl he had befriended online, suffered injuries after he was attacked by inmates in the Peshawar Central Prison.

“I am very much disturbed to read about repeated attacks on Hamid Ansari who is detained in Peshawar jail since 2012. It is inhuman.

“I have asked our High Commissioner in Pakistan to seek Consular access to Hamid Ansari in hospital/Jail and report,” Ms Swaraj tweeted.

The 31-year-old was sentenced to three years imprisonment by a military court for possessing a fake Pakistani identity card.

Mr Ansari’s lawyer lawyer Qazi Mohammad Anwar told Peshawar High Court bench on Thursday that his client was attacked at least thrice by jail inmates in recent months.

Mr Anwar also told the court that Mr Ansari had been kept in a death cell with a hardened criminal awaiting execution for a murder.

Mr Ansari was attacked and injured three times over the last couple of months and shifted to the hospital for treatment, the counsel said. He said even the head warden would subject him to brutality and slap him on a daily basis without any reason.

Mr Ansari had gone missing after he was taken into custody by intelligence agencies and local police in Kohat in 2012 and finally in reply to a habeas corpus petition filed by his mother, Fauzia Ansari, the high court was informed on January 13 that he was in custody of the Pakistan Army and was being tried by a military court.

 

[Source  NDTV]

Inter-District Bike Theft Racket Busted In Kolkata, 7 Vehicles Recovered

Inter-District Bike Theft Racket Busted In Kolkata, 7 Vehicles Recovered

KOLKATA: Kolkata Police claimed to have busted an inter-district gang of motorcycle thieves and recovered seven stolen motorcycles from their possession from different locations in the city, police said today.
Acting on the information provided by Bisu Das, 45, arrested by Kolkata Police on July 28 from Beliaghata area, two stolen bikes were recovered from his possession, they said.

After grilling Mr Bisu, police last night arrested Sheikh Fariduddin, 32, from Tiljala area and recovered five motorbikes from his possession for which he had no supported documents, they said.

“Both Bisu Das and Sheikh Fariduddin were working together. This person from Tiljala was working as one of the associates of Bishu. We are looking whether there are anybody else working with them,” he said.

Meanwhile, Hooghly district police seized 14 motorcycles and three four wheelers and arrested two persons for their involvement in the car theft racket.

Working on an information from a reliable source Hooghly District Police raided an automobile outlet in Pallishree under Arambagh Police Station and arrested Seikh Motiul Alialias Moti, 42, and Sheikh Mukhtar Ali, 46, and recovered the stolen vehicles.

 

[Source  NDTV]

42 Hurt When Railing Collapses At Snoop Dogg Concert

42 Hurt When Railing Collapses At Snoop Dogg Concert

CAMDEN: Authorities say 42 people have been hurt after a railing collapsed during a concert by Snoop Dogg and Wiz Khalifa in New Jersey.
A partition separating concertgoers from the stage at the BB&T Pavilion in Camden collapsed, causing people to fall onto the concrete below. It happened shortly before 10:30 pm on Friday.

Camden County officials say one fan suffered a serious upper body injury and remained hospitalized today in stable condition. Numerous other people were treated for broken bones, bruises and other injuries.

The railing was separating a sloping lawn from a covered portion of the outdoor concert hall. The lawn is several feet above a concrete walkway.

Concertgoer Katie Colbridge says the concert, which was about halfway finished, stopped abruptly when the accident happened.

It was later canceled.

 

[Source  NDTV]

Senior RSS Leader Jagdish Gagneja Shot At In Punjab, Critical

Senior RSS Leader Jagdish Gagneja Shot At In Punjab, Critical

JALANDHAR: Senior RSS leader Brig (retd) Jagdish Gagneja was tonight shot at by some bike-borne persons at Jyoti Chowk area in Jalandhar, police said.
Jalandhar Commissioner of Police Arpit Shukla said Mr Gagneja, Sah-sarsanghchalak of RSS’s Punjab unit, was shot at around 9 pm.

He was rushed to a private hospital where his condition is stated to be critical.

Local BJP legislator Manoranjan Kalia said that three bullets hit Mr Gagneja.

Police have started a probe into the matter.

Punjab Pradesh Congress Committee President Amarinder Singh condemned the attack on the RSS leader.

“Such nefarious designs deserve to be nipped in the bud lest these push Punjab into anarchy,” he said in a statement.

People may not agree or approve of RSS ideology, but in a democracy everyone has a right to pursue his political and ideological beliefs, Mr Amarinder said.

“Such intimidation is unacceptable,” he said.

 

[Source  NDTV]

Attacked In Parliament, But Manohar Parrikar Stands His Ground On Aamir Jibe

Attacked In Parliament, But Manohar Parrikar Stands His Ground On Aamir Jibe

PANAJI: Even though his apparent jibe at actor Aamir Khan over the intolerance issue created a flutter, Defence Minister Manohar Parrikar today stuck to his guns and claimed that many people told him what he had stated was right.
The union minister also alleged many people were creating an atmosphere of hatred against the BJP and have sympathy for anti-social elements.

“I don’t want to repeat whatever I said in Pune. If someone wants they can see it on YouTube. Till date, not a single person has said that whatever I have said is wrong. In fact, they said that whatever I have said is right,” Mr Parrikar said, addressing the party’s convention of Scheduled Tribes community Panaji today.

Speaking at a function in Pune last week, Mr Parrikar had said, “One actor had said that his wife wants to live out of India. It was an arrogant statement. If I am poor and my house is small, but I have to love my house and always dream to make a bungalow out of it.” He had also said those who speak against the nation need to be taught a lesson by the people.

Mr Parrikar’s remarks created a controversy with Congress mounting a fierce attack on him. “RSS & Parrikarji want to teach everyone a lesson. Here’s a lesson for you: hate is the preserve of the coward and it never wins (sic),” Congress Vice President Rahul Gandhi had said on Twitter.

Aamir Khan had late last year spoken about a “sense of insecurity” resulting from increasing intolerance in the country, and mentioned his wife Kiran Rao’s apprehensions about the future of their child in India.

While speaking at the convention today, Mr Parrikar said, “They can’t digest the fact that BJP is taking people from all strata into its fold. That is why people are trying to create misunderstanding.”

“So many people are working towards creating hatred towards BJP. That is why they have sympathy even towards some anti-social elements,” he added.

According to the former Goa Chief Minister, some people have “wrong thinking” towards the government.

“The BJP government under Modi is showing the world how to govern. Because of this, some political parties which are opposing it will disappear with time,” he said.

 

[Source  NDTV]