Tuesday, October 2, 2018

Latest News Headlines Tue Oct 2 11:42:01 IST 2018

  1. PM Modi to inaugurate the first Assembly of the International Solar Alliance (ISA) in New Delhi
  2. Five people injured in explosion in Kolkata's Kazipara area
  3. President, PM, Rahul remember Gandhi on his birth anniversary (Lead, superseding earlier copy)
  4. Bollywood has powerful international footprint: Designer Manish Malhotra
  5. Vaishnav Jan To': Song that fuses spirits of Gandhi and Narsinh Mehta
  6. PE investments zoom in Jul-Sep, making 2018 the best year yet for India
  7. Thousands of farmers march towards Delhi
  8. Thousands of farmers Tuesday marched towards Delhi over demands ranging from farm loan waiver to cut in fuel prices, blocking traffic movement on arterial roads leading to the national capital.
  9. Express train coach derails in Chennai, none injured
  10. An empty coach of an express train proceeding to the yard at the Egmore railway station here derailed Tuesday, Southern Railway officials said.
  11. Man convicted for rape-murder of tribal girl in Assam
  12. A man has been held guilty by a district court in Assam for the rape and murder of a minor girl.
  13. 5 injured in explosion in Kolkata's northern suburbs
  14. Five people were injured in an explosion in front of a multi-storey building in the Nagerbazar area in the city's northern suburbs on Tuesday, police said.
  15. Gandhi's 149th birth anniversary commemorated in China
  16. Mahatma Gandhi's popular quotes and bhajans resonated on Tuesday in the sprawling Chaoyang Park in central Beijing where people from all walks of life gathered to commemorate his 149th birth anniversary.
  17. Nicole Kidman to be honoured with Career Achievement Award at HFA
  18. Nicole Kidman will receive the Hollywood Career Achievement Award at this year's Hollywood Film Awards (HFA).
  19. Oil close to four-year high ahead of U.S. sanctions on Iran
  20. Opera Touch optimised for one-hand use, built-in Ad-Blocker arrives on iOS
  21. Instagram's Cofounders Resign Amid Turbulence At Facebook
  22. Channel - Block D - Billionaires - blog - Position 4 - Instagram's Cofounders Resign Amid Turbulence At Facebook
  23. Channel - Block D - Billionaires - blog - Position 5 - Microsoft Cofounder Paul Allen Announces That His Cancer Has Returned
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  28. An endangered frog takes centre stage at the Supreme Court
  29. The Tory Party is split down the middle
  30. Bagehot's notebook
  31. What Birmingham means to today’s Conservatives
  32. Thirty years on
  33. A tsunami strikes a poor part of Indonesia
  34. Brett Kavanaugh may have fared better with senators than voters
  35. Sexual-harassment scandals are hurting companies’ reputations and balance sheets
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  41. On the brink of extinction
  42. A divided party
  43. The Conservative Party Conference
  44. Daily chart
  45. The 2018 Nobel prizes
  46. Of books and Bogtrotters
  47. Disaster in the archipelago
  48. Conscience of a conservative
  49. Road kill
  50. Debt and taxes
  51. Anglicanism
  52. Disharmony
  53. A terrible day in the Senate
  54. Trade deals
  55. US stocks end mixed amid trade deal, data
  56. US dollar rises against most major currencies
  57. Vaishnav Jan To: Song that fuses spirits of Gandhi and Narsinh Mehta
  58. CredoLab Boosts Executive Team With New Global Head of Sales, Tarun Kumar Kalra
  59. New Era for Grand Seiko Opens with Establishment of Grand Seiko Corporation of America
  60. Office of Generic Drugs (OGD/FDA) Awards $1M FDA Contract to CUBRC and EpiVax for Demonstration and Validation of Immunogenicity Risk Assessment Methods for Generic Peptide Drugs and Their Impurities
  61. Malaysia Rice Bowl Startup Awards Fetes Nation's Best
  62. Having worked on the costumes for films like "Rangeela", "Mohabbatein", "Kuch Kuch Hota Hai" and "Ae Dil Hai Mushkil" in his over-two-decade journey in Hindi filmdom, ace fashion designer and couturier Manish Malhotra says Bollywood has a powerful international impact.
  63. Nobel Prize in Medicine goes to cancer researchers from US, Japan (Lead)
  64. New vaccine offers hope for metastatic cancer patients
  65. Cold severity linked to nasal bacteria: Study
  66. Dell's 'Inspiron' notebook comes with customisable options
  67. We are more than a smartphone brand: Xiaomi
  68. OPPO to set up its first India R&D centre in Hyderabad
  69. Tesla close to achieving profitability: Elon Musk
  70. Facebook faces $1.63 bn in EU fine over fresh data breach
  71. Google celebrates renowned opthalmologist Govindappa Venkataswamy
  72. Dell India on Monday added a new ultra-slim notebook to the "Inspiron" family, with multiple customisation options for users to choose from, starting at a promo price of Rs 64,990.
  73. Harnessing the power of next generation computing
  74. Gujaratis declared Rs 18,000 crore unaccounted money in 4 months under IDS
  75. Non-amended RPA prevents funding transparency
  76. Gujaratis declared Rs 18,000 crore of unaccounted money in 4 months under IDS
  77. Nagma may be picked over Priya Dutt for 2019 poll
  78. Gujaratis hold 29% of country's unaccounted money
  79. SBM has become a vibrant mass movement: PM Modi
  80. Tuition teacher killed by masked gunman in Delhi
  81. बंधन बैंक के निवेशकों के डूबे ₹13,454 करोड़
  82. Retail likely to grow to $1.3 trillion by 2020: Anarock
  83. Oil Import
  84. Rosetta by Ferns
  85. Mahindra Marazzo
  86. Roca
  87. Ad: Tirun
  88. LIC stalling Piramal deal led to crisis, say IL&FS insiders
  89. Can former directors of IL&FS take up other board positions?
  90. IL&FS: How to steady a sinking ship
  91. Hold BEL, Avanti Feeds; Sell Suzlon, Minda Industries
  92. Gujaratis declared Rs 18,000 crore in black money in 4 months under IDS
  93. Chinese destroyer extremely close to US warship: US
  94. Wipro completes data centre divestment with India leg closure
  95. In 2015, a deal was almost finalised where Ajay Piramal would pick up stake in the group at Rs 750 per share.
  96. While the earlier Companies Act barred them from board positions, the 2013 law is yet to be tested.
  97. IL&FS has an aggregate debt pile of Rs 91,000 crore.
  98. LMW is part of good management, but it couldn’t post growth in profits or revenues.
  99. In a reply to an RTI query, the Income-Tax (I-T) department stated that over Rs 18,000 crore was declared in Gujarat under IDS from June 2016 to September 2016 â€" 29% of the total declaration of Rs 65,250 crore under the scheme.
  100. The retired HAL engineer has in his collection over 200 postal stamps featuring the Mahatma that have been released by India and other countries.
  101. IL&FS fallout brings back memories of Satyam carnageSatyam's operating margins was around 3 per cent as against its claim of 24 per cent.
  102. At that point, LIC’s current chairman V K Sharma was the corporation’s nominee director on the board. Neither did LIC agree to the price, nor did it bring in capital through a rights issue at a much lower price. “Now, three years later, the corporation is not bringing in funds at a price of even Rs 150, although the shares have been valued by an independent valuer at Rs 350,” sources said. LIC had earlier shied away from increasing its shareholding on the grounds that insurance regulation prevents it from taking a strategic stake. Although it had recently made public statements that it would support IL&FS, the conditionalities placed for investing in the rights issue made it impossible to comply with them in a month.In the board superseded on Monday, LIC had two nominee directors â€" its MD Hemant Bhargava and another nominee Praveen Kumar Molri. The board chairman S B Mathur is also a former LIC chairman and was brought in to replace Bhargava, who stepped down to avoid conflict of interest as he is also on the investment committee of LIC.IL&FS sources said that the group’s bailout of Satyam’s real estate entities, which includes Hill Country Properties, had resulted in substantial funds being locked in. Since the property under development was saddled with litigation, the outgo was much higher with Rs 2,300 crore still invested. One of the biggest challenges for the new board would be to bring in a management capable of getting its arms around the group with 169 subsidiaries and associate companies. The new board would also have to find people to run its subsidiary IL&FS Financial Services, where the CEO and five board members resigned last week.
  103. As platform manipulation tactics continue to evolve, the micro-blogging platform said it is expanding rules to better reflect how it identifies fake accounts.
  104. Wipro acquired hosted data centre business from Infocrossing over a decade ago.
  105. LIVE: Gandhiji a living set of ideas, values, says Rahul Gandhi
  106. Farmers' rally in Delhi LIVE: Prohibitory orders issued as thousands of farmers march towards capital
  107. Gandhi a stalwart who lived for others, made world a better place: PM Modi
  108. Farmers’ rally in Delhi LIVE: Prohibitory orders issued as thousands of farmers march towards capital
  109. Gauhati University Result 2018 BA, BCom and BSc declared at gauhati.ac.in: How to check
  110. AAP rebel faction smells opportunity in Akali upheaval, asks anti-Badal leaders to join hands
  111. Mahatma a stalwart who lived for others, made world a better place: Narendra Modi on Gandhi Jayanti
  112. Gandhi Jayanti: Celebrations to mark Bapu’s love for stars and sky gazing start at Yerwada prison in Pune
  113. Facebook names Adam Mosseri as the new Head of Instagram
  114. 150th Birth Anniversary of Mahatma Gandhi: All religion prayer meet at Aga Khan Palace in Pune
  115. Gandhi Jayanti 2018: Shah Rukh Khan urges fans to fulfil Mahatma Gandhi’s dream of Clean India
  116. Regulation on dairy revenue sharing likely to be introduced in Winter Session
  117. Punjab and Haryana HC: Inmates can’t be categorised as hardcore for having a cell phone
  118. Gandhi Jayanti 2018: Shah Rukh Khan urges fans to fulfil Mahatma Gandhi's dream of Clean India
  119. Xiaomi Redmi 6, Redmi 6A begin receiving MIUI 10 update: Key features, how to install
  120. Gandhi Jayanti: This year marks the 150th birth anniversary of Mahatma Gandhi and the government has planned two years of celebration for the same.
  121. Two dead after clash in Bengal school: Women block school gate, demands CBI probe
  122. Jankar, while speaking to The Indian Express, also said that the work for finalising a single brand of milk in the state is in the final stages.
  123. The open invitation extended by former Leader of Opposition, Sukhpal Khaira, comes in the backdrop of several recent statements of his wherein he has lauded the Akali Dal’s glorious past and its role as a ‘Panthic party’.
  124. BSNL भी देगा मुफ्त अमेजन प्राइम मेंबरशिप, जानें किसे à¤"र कैसे मिलेगा
  125. हजारोंच्या संख्येने शेतकरी दिल्लीच्या दिशेने रवाना, जमावबंदी लागू
  126. From "Never Settle" to "Proud to be young", Realme is going to launch a "mid-range OnePlus 6T" in a campus!
  127. Gandhi Jayanti Wishes 2018: காந்தி ஜெயந்தி வாழ்த்து மடல்!
  128. Facebook names Adam Mosseri as the new Head of Instagram
  129. Airtel Rs 181 prepaid recharge pack offers 3GB data per day, unlimited calls for 14 days
  130. Samsung Galaxy A6s spotted on TENAA, specifications revealed
  131. Google Pixel 3 to OnePlus 6T to Nokia 7.1 Plus: Top mobiles expected in October 2018
  132. Farmers' rally in Delhi LIVE: Police fire tear gas shells as farmers try to enter Delhi
  133. Two Kashmiri students picked up from Punjab college, one let off later
  134. KBC 10 Kids registration: Here is how to register for KBC 10 Kids’ special
  135. An armed policeman guards supplies in Palu port
  136. The woman lies injured on the ground
  137. Tsunami damage
  138. Scene from Maaya 2
  139. The BBC sees police firing warning shots as people grapple for supplies in the disaster-hit town.
  140. Low-cost smartphones and mobile data are giving creative freedom to India's entertainment industry.
  141. Tensions rise as need for Palu aid grows
  142. Ryder Cup spectator 'loses sight
  143. Why Sulawesi's tsunami is puzzling scientists
  144. How a lesbian love story is bypassing the Indian censors
  145. 3 missing persons return from PoK after 3 years, detained
  146. UN Chief calls on world to follow Gandhi's philosophy of non-violence
  147. Pak PM speaks to Merkel, outlines the need of comprehensive dialogue with India
  148. Kamaraj Remembered on his death anniversary
  149. Floral tributes paid to Mahatma Gandhi on his birth anniversary
  150. Saudi Arabia announces $ 200 million grant to Yemen central Bank
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  155. Honeywell Wins $37.7 million contract to Supply AGT-1500 Tank Engine Parts
  156. 07:31 AM
  157. Oil firm near 4-year high as Washington's Iran sanctions loom
  158. OPEC seen to have little spare capacity to fill Iran loss
  159. Govt. puts Uday Kotak in charge to stem IL&FS crisis
  160. Vietnam’s former Communist Party Chief Do Muoi dies at 101
  161. Former General Secretary of the Communist Party of Vietnam Do Muoi, who worked against the French colonial government and became a committed communis
  162. Young crusaders helm change in villages
  163. Members discuss civic issues needing attention on Sundays
  164. Bengaluru Traffic: With Zero Progress Made On Metro Project, No Relief In Sight For Commuters Using Outer Ring Road 
  165. Drunk Trump? US President Asks World To Imagine Him So, Says He’s Never Had A Beer In His Life
  166. Ganga-Era Artefact Found Near Begur Lake In Bengaluru
  167. Why Gau Rakshaks In Alwar Are Giving Up On Gau Raksha
  168. V R Ferose and Lorien Pratt
  169. Swati Goel Sharma and Arihant Pawariya
  170. Divine Blunder: Why Temples Should Not Be Kept Away From Contributing To Flood Relief
  171. Mayuresh Didolkar
  172. Google's project stream will soon let you play games on chrome
  173. 16 firearms found in Jharkhand jungle Police
  174. 5 injured in explosion in Kolkata's northern suburbs
  175. Gandhi's 149th birth anniversary commemorated in China
  176. Trump says 'tariff king' India wants trade deal with US primarily to keep him 'happy'
  177. Money stock markets closed
  178. Google's project stream will soon let you play games on chrome
  179. 16 firearms found in Jharkhand jungle Police
  180. Money stock markets closed
  181. Starting Oct 5th, some lucky testers can play Assassin's Creed Odyssey in chrome
  182. TheWeek Correspondent
  183. Five factors which dragged Sensex more than 2,400 points in September
  184. Walking on Gandhiji's path is real tribute to him: Devendra Fadnavis
  185. Mumbai's Marine Drive gets eco-friendly public toilet at a cost of Rs 90 lakh
  186. US using tariffs to negotiate fair deal with countries: Donald Trump
  187. Market rumors may continue to trigger panic selling; Religare's top 3 short-term bets
  188. To Spread 'Swachhata' Message, Puducherry CM Narayansamy Goes Down in a Drain and Gets His Hands Dirty
  189. Oil Close to Four-year High Ahead of US Sanctions on Iran
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  192. A Moment Of Truth For NBFCs...And For The System
  193. IMF’s New Chief Economist Is A Great Choice
  194. FPIs, NRIs, And Own Goals In The Name Of ‘Black Money’
  195. Asian Shares Trade Mixed; Dollar Pushes Higher: Markets Wrap
  196. Trump Says India Wants Trade Deal To Keep Him Happy
  197. Tuesday, October, 02, 2018   11:29:49 AM
  198. Thousands of farmers march towards Delhi, block traffic
  199. PM Modi column: How can we fulfil Gandhiji's vision
  200. Mahatma Gandhi remains a shining beacon of hope for millions of people across the world who seek a life of equality, dignity, inclusion and empowerment, writes PM Narendra Modi.
  201. Autopsy says Apple employee died due to gunshot injury
  202. Petrol at Rs 91.20 in Mumbai, diesel at Rs 79.89
  203. Brett Kavanaugh lied about his drinking: Former classmate
  204. Kangana transforms    into Lakshmibai in  'Manikarnika: The Queen of Jhansi
  205. The movie is slated to release on January 25, 2019.
  206. Anurag Kashyap gives space to people he understands: Rachita Arora
  207. Anushka Sharma is 'keeping it real' on latest magazine cover
  208. Anne Hathaway's touching post for Julie Andrews
  209. Why too many choices overwhelm your brain!
  210. Wedding trends for 2018
  211. Adam Mosseri takes over as Instagram head
  212. S.Korea's industrial output keeps rising despite slumping investment
  213. S.Korea's business sentiment rebounds in 4 months
  214. Japan's Nobel winner Honjo calls for more investment in basic sciences
  215. China's benchmark power coal price stays flat
  216. right persons
  217. a high note
  218. Kasautii Zindagii Kay 2: क्या अनुराग-प्रेरणा के अलग हो जाएंगे हमेशा के लिए रास्ते?
  219. गुजरातींकडे १८ हजार कोटींची अवैध संपत्ती; काळा पैसा बाहेर आल्याचे RTIमधून उघड
  220. ஹைட்ரோ கார்பன் திட்டம் : ஆய்வு செய்ய மட்டுமே மத்திய அமைச்சகம் அனுமதி அளித்திருக்கிறது – மாஃபா பாண்டியராஜன்
  221. അച്ഛന്റെ സംഗീതം കേട്ടുറങ്ങുന്ന മകള്‍: ബാലഭാസ്കറിന്റെ കുടുംബത്തിന്റെ കരളലിയിക്കുന്ന വീഡിയോ
  222. Huawei Mate 20 Pro Release Date
  223. OnePlus 6T Release Date
  224. iPhone XS Max Wallpaper
  225. Avengers: Infinity War
  226. Game of Thrones new book
  227. SNL Kavanaugh Cold Open
  228. Amazon Deals
  229. Logitech Harmony Remote And Hub Bundle
  230. Netflix choose your own adventure
  231. Netflix October 2018
  232. Foldable Bluetooth Keyboard
  233. Wireless Camera For Smartphones
  234. Cool Google tips
  235. skull asteroid
  236. cats and rats
  237. Kashmiri students, Punjab, Intelligence bureau, Punjab police, Punjab students, Punjab news, Indian Express news
  238. Anticipating law and order situation, Delhi Police have imposed week-long prohibitory orders in east Delhi. (Express photo/Gajendra Yadav)
  239. Gandhi Jayanti: Celebrations to mark Bapu’s love for stars and sky gazing start at Yerwada prison in Pune
  240. 150th Birth Anniversary of Mahatma Gandhi: All religion prayer meet at Aga Khan Palace in Pune
  241. Farmers' protest in Delhi: Police fire tear gas shells as farmers try to enter capital
  242. Sportswire: St. Joseph tops Pioneer Valley in Ocean League golf
  243. Ohio State reigns, Pac-12 wanes: 10 things learned about college football this weekend
  244. Somber tributes, dimmed lights on Vegas shooting anniversary
  245. Chicago officer's trial to resume after unexpected day off
  246. Nelson, Scott square off in Florida Senate debate
  247. Studies in healthy older people aim to prevent Alzheimer's
  248. Embry-Riddle Aeronautical University's Vandenberg Campus
  249. Morning Brief: Structure With World’s Biggest Pillar-Less Dome To Open Today In Pune; Pakistan Cuts Size Of Biggest Chinese Project By $2 Billion Over Debt Concerns; And More
  250. Police confront a protester in Barcelona, October 1 2018
  251. Theresa May making a statement on Brexit talks, at Downing Street on 21 September 2018
  252. Trucks wait in the queue for border customs control to cross into U.S. at the Bridge of Americas in Ciudad Juarez, Mexico, August 15, 2017.
  253. row bigtextbox
  254. story-list graybg
  255. AP Top Entertainment News at 1:50 a.m. EDT
  256. Ahold Delhaize share buyback update
  257. OMRON Releases AI Predictive Maintenance Library to Achieve Predictive Maintenance and to Improve Equipment Uptime
  258. London Conference to Highlight
  259. Caledonia declares quarterly dividend of 6.875 cents per share
  260. TransGlobe Energy Corporation Announces Director/PDMR Shareholding
  261. NXP Accelerates Time to Market for Automotive Radar Applications with New Radar Solution
  262. Wirecard Launches Try Before You Buy With PVH in Europe
  263. KYMCO Ionex Expands Globally in Q4
  264. British Council Indonesia Foundation in Indonesia announces launch of IELTS on computer
  265. STRATEGIC PARTNERSHIP BETWEEN DEINOVE AND SOLVAY FOR THE MARKETING OF PHYTOENE IN NORTH AMERICA AND ASIA
  266. Transgene to Present its Viral Vector Expertise at the Society for Immunotherapy of Cancer Conference
  267. He had won Punjab Assembly ...
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  • Trump Kim meeting agenda could involve denuclearisation, bilateral relations
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  • The death of French singer and songwriter Charles Aznavour dominated the press on Tuesday as newspapers celebrated the last of the great French crooners. Laurent Berstecher takes a look at some of the front pages.
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  • Tributes pour in for 'formidable' entertainer Charles Aznavour
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  • Last updated on Oct 02, 2018 11:10 AM IST
  • By Durga Chakravarty
  • By Mayank Chhaya
  • Born over four centuries and 300 kilometres apart, a single song fused the spirits of Narsinh Mehta and Mohandas Gandhi.
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  • Tear Gas, Water Cannons Used As Protesting Farmers Try To Enter Delhi
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  • آج نیوز
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  • Jhang student becomes an overnight billionaire after Rs1.7b mysteriously appears in his account
  • ٹرمپ Ú©ÛŒ قیادت میں امریکہ مزید تنہا Ù¾Ú'رہا ہÛ'
  • نیوز نور
  • FIA detects Rs173 million in bank account of jobless boy from Jhang
  • Rana Sanaullah Talks to Media Outside AC
  • آسٹریلیا Ú©Û' خلاف ٹیسٹ سیریز، محمد حفیظ Ù†Û' دبئی میں اسکواڈ جوائن کرلیا
  • ایکسپریس
  • We can’t start all over again with US: FM Zarif
  • Office-Bearer Of Social Organization Arrested
  • SECP and IOSCO to Hold Annual World Investor Week
  • Teams constituted to arrest culprit who raped police official
  • NASA records the first music video in space
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  • SHC Adjourns Sharjeel’s Hearing Due to Lawyer Absence
  • 20 injured in bus accident in Dera Ismail Khan
  • ATC grants bail to Faisal Raza Abidi in contempt case
  • Light tremor jolts SW Iran
  • Iran deputy FM meets with Portuguese parliamentary friendship group
  • Oil Prices Continue to Rise Worldwide, May Reach $100 Before Year End
  • Hafeez included in Pakistan’s test squad against Australia
  • Headlines in Iranian English-language dailies on October 2
  • IRAN’S FIGHT AGAINST TERROR
  • Saudi Arabia taking keen interest in energy, petroleum sectors: Fawad
  • Saudi Arabia interested to invest in alternative energy sector in Pakistan
  • Rescued NAFTA deal lifts stocks, Canadian dollar
  • Director University of London calls on Minister for Law
  • Saudi Arabia makes $200mn grant to Yemen central bank
  • Hypocrisy much? Left right slam Comey’s ‘shot clock’ oped about Kavanaugh FBI probe
  • Turkey’s Erdogan hopes to rebuild US ties despite pastor row
  • WI coach Stuart Law praises Pakistani leg-spinner Shadab Khan
  • وفاقی کابینہ کا آئندہ اجلاس کوئٹہ میں ہونÛ' کا امکان
  • Trump says he wants ‘comprehensive’ FBI investigation of Kavanaugh
  • Three Orlando police officers open fire on unarmed patient in hospital
  • PM Travels In Mehran: PTI Issues Clarification About Fake Video
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  • In a reply to an RTI query, the Income-Tax (I-T) department stated that over Rs 18,000 crore was declared in Gujarat under IDS from June 2016 to September 2016 — 29% of the total declaration of Rs 65,250 crore under the scheme.
  • Copyright:(C)Tue 02 Oct 2018, 11:16:562018Tue 02 Oct 2018, 11:16:56 Bennett Coleman & Co. Ltd, http://info.indiatimes.com/terms/tou.html
  • Gujaratis hold 29% of country's unaccounted moneyIn a reply to an RTI query, the Income-Tax (I-T) department stated that over Rs 18,000 crore was declared in Gujarat under IDS from June 2016 to September 2016 â€" 29% of the total declaration of Rs 65,250 crore under the scheme.
  • Nagma’s presence at key party meeting following Priya Dutt’s dismissal from AICC suggests she will be fielded from Mumbai North Central, say Cong insiders.
  • Copyright:(C)Tue 02 Oct 2018, 11:27:562018Tue 02 Oct 2018, 11:27:56 Bennett Coleman & Co. Ltd, http://info.indiatimes.com/terms/tou.html
  • Key officials in IL&FS see the Life Insurance Corporation’s stalling of a deal with Piramal Group in 2015 as the trigger behind the present capital crunch. The beleaguered infrastructure financier had been seeking capital for over three years and one route was bringing in Piramal Group chairman Ajay Piramal as a shareholder.While the board has decided not to oppose the government move to take over, some members want to place on record their reading of what is the root cause behind the current crisis. According to sources, while scouting for capital three years ago, IL&FS was keen to get on board Piramal, who was looking to grow his financial services business. In 2015, a deal was almost finalised where the industrialist would pick up stake in the group at Rs 750 per share. However, it did not go through as LIC â€" which is the main shareholder with a 25.34 per cent stake â€" had stuck to a valuation of Rs 1,150.
  • MUMBAI: Nearly a decade ago, Ramalinga Raju, then chairman of Satyam Computer Services confessed to a fraud that shook India’s corporate world and its sunrise IT services industry.The IT sector was bracing for the recession in the US, its largest market, that was triggered by the financial crisis. Satyam was India’s fourth- largest IT services companies and had earned a coveted award for corporate governance the same year. Investors were surprised by the merger of Satyam with Maytas, a privately-led real estate firm of his family members. The stock then fell massively. It also unravelled that all was not well with Satyam.Subsequently, Raju admitted he had artificially inflated financial data for many years. Its operating margins was around 3 per cent as against its claim of 24 per cent. Revenues were inflated by around 25 per cent. It was a meticulous fraud that happened under Raju. He had created fake invoices, had the employee number inflated to match the revenues and fake fixed deposit receipts created to reflect bank balance in tune with the fudged numbers.In the January 2009 letter to the market regulator, Raju said that he was “riding a tiger” and did not know when to get off.With India’s image at stake, the Manmohan Singh government took a drastic step of superseding the board and appointing its own nominees - Housing Development Finance Corporation (HDFC) chairman Deepak Parekh, former National Association of Software Services Companies (Nasscom) president Kiran Karnik and former Securities Exchange Board of India (SEBI) member C Achuthan. They met clients, employees and all stakeholders to say that Satyam would be rescued. At the same time, legal action would be taken against Raju and others.By April, the government appointed board led a transparent process that made Tech Mahindra, a unit of Mahindra emerge as the winner to take Satyam. The process helped save Satyam, thousands of jobs at a crucial time for Indian IT and the country’s reputation.66037397
  • US destroyer took action to avoid collision with Chinese warship
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