Month: July 2015

Fullerton raises Rs 450 cr funding from IFC

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Non-banking finance company Fullerton India today said it has raised Rs 450 crore from International Finance Corporation (IFC).

“These funds are raised through the subscription of secured non-convertible debentures (NCDs), with an average maturity period of 5 years,” Fullerton said in a statement.

These NCD’s are rated, listed and tradeable on the National Stock Exchange.

This additional funding will enable the company to cater to the further growth and expansion of the SME and MSME business, the statement said.

Don’t believe in settling deals with Govt. in Parliament, says Congress

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The Congress party on Wednesday denied that it would broker a deal with the government in Parliament on several outstanding issues.

“These are baseless reports. We don’t believe in setting deals with the government in Parliament on any issue,” Congress leader PL Punia said.

Media reports had earlier speculated that the Congress would look to broker a deal on issues like the Goods and Service Tax (GST) Bill and the Land Acquisition Bill in the upcoming Monsoon Session of the Parliament.

CAG raps Delhi govt over mid-day meal quality

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Around 89 per cent food samples of the mid-day meal scheme failed to pass the “nutritive” value test during 2010-14 in Delhi, a CAG report has said.

The government auditor also said that of the 18,000 children supported under the Sarva Shiksha Abhiyaan only 1,154 were covered during 2013-14.

It also stated that the average attendance in primary schools of the Delhi government decreased 12 per cent in four years.

Maharashtra to set up monument for Param Vir Chakra awardees

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The Maharashtra government has decided to set up a first of its kind monument for Param Vir Chakra awardees at the Birla Sports Centre here.

A decision to this effect was taken by Maharashtra state finance minister Sudhir Mungantiwar today at a meeting chaired by him, which was attended by Revenue Department Principal Secretary Manu Kumar Shrivastav, Municipal Corporation of Greater Mumbai (MCGM) Commissioner Ajoy Mehta and others.

Incidentally, an announcement was made about it during the last session of the Maharashtra State Legislature.

TCS to hire 60K employees this fiscal, says Mistry

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Country’s largest IT services firm TCS today said it will hire 60,000 people this fiscal and impart training to its existing one lakh employees in various digital technologies.

The software exporter is also ramping up investments in the digital solutions space.

“Digital is a key stream for us going ahead. We are investing in training all our people. This year, we will be training 1,00,000 people in terms of various digital technologies,” managing director and chief executive N Chandrasekaran told the shareholders at the 20th AGM here.

Governor organises banquet for President

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Common Governor of Andhra Pradesh and Telangana ESL Narasimhan tonight hosted a state banquet in the honour of President Pranab Mukherjee, who is here for customary southern sojourn.

Andhra Pradesh Chief Minister N Chandrababu Naidu, his ministerial colleagues, Telangana Deputy Chief Minister K Srihari and several other dignitaries attended the event at Raj Bhavan.

Telangana Chief Minister K Chandrasekhar Rao could not attend the event as he was slightly unwell, state government sources said.

Sebi bans 8 cos for failure to address investor grievances

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Sebi today barred eight companies from the securities market till they resolve all pending investor grievances.

These entities would also be required to get their SCORES (Sebi Complaints Redress System) authentication.

The companies against which Sebi has taken action are Sarda Information Technology, Supreme Telecoms and Network India, Sanwan Software, Sun Infoways, Systel Infotech, Subhlaxmi Export, Shanti Packaging and Rishab Concast.

Congress campaign to throw mud at the Centre has failed, says BJP

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The Bharatiya Janata Party on Wednesday accused the Congress of launching a campaign against the Centre, adding that the recent by-poll results have shown that this crusade by the grand old party has failed.

“The recent by-poll results have shown that the support for the BJP has increased across the country. This shows that the Congress campaign to throw mud at the BJP-government at the Centre has really failed,” BJP spokesperson GVL Narasimha Rao said.

Detailed story to follow. (ANI)

Gujarat to announce new tourism policy within a month

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The Gujarat government plans to announce its new tourism policy with a focus on eco-tourism within a month, Gujarat Finance and Tourism Minister Saurabh Patel said here today.

He said that the policy would focus on developing eco-tourism destinations in Gujarat, besides promotion of wildlife tourism. The policy will replace the existing policy which was announced in 2009, he said.

AAP ‘clueless’ about governance: Congress

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Critcising the Delhi Chief Minister Arvind Kejriwal-led Aam Aadmi Party (AAP) Government over the recently passed Value Added Tax (Amendment) Bill, Congress leader Barkha Singh Shukla on Wednesday said that the Delhi Government is ‘clueless’ about governance.

“These people (AAP) only want to create a ruckus and play the blame game. They do not want to do any concrete work as they don’t know how to. They are clueless about governance. That is why they keep blaming others for their mistakes,” said Shukla.

Amended Delhi Value Added Tax Bill cleared by assembly

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The Delhi Assembly today passed the Delhi Value Added Tax (Second Amendment) Bill which will allow the state government to regulate the VAT on petroleum products, liquor and aerated drinks.

Objecting strongly to the bill, BJP’s MLA Vijendra Gupta tore off its copy and staged a walkout along with party MLAs Om Prakash Sharma and Jagdish Pradhan.

Amending the existing VAT doesn’t mean that the state government will increase the tax. This move will only make tax system flexible, Deputy Chief Minister Manish Sisodia, who is also the Finance Minister, said.

Australian fighting against IS killed in Syria

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An Australian man, fighting alongside Kurdish forces against the Islamic State (IS) terror group, was killed when he stepped on a landmine in Syria, media reported on Wednesday.

Reece Harding, 23, had left Australia in May, family sources told ABC.

His father Keith said that a few days after he departed, he received a message that Reece was doing “humanitarian” work but the family now understands that he had joined Kurdish forces in their fight against the IS.

Keith said he received a message on Monday telling him to call on an overseas number.

Cong, NCP join hands to corner BJP govt in Mah monsoon session

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Opposition Congress and NCP will launch a joint offensive against Devendra Fadnavis government on various issues including allegations of impropriety surrounding some of its top ministers and suicides by farmers, in the upcoming monsoon session of the state legislature.

Senior leaders of both the parties, the erstwhile ruling partners, met in evening here to chalk out the collective strategy to be put into force during the session, to be held from July 13 to 31.

CAG slams construction of 4 large bungalows in GTB hospital

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The “unfruitful” expenditure in construction of four large bungalows at Guru Teg Bahadur hospital campus “without any actual need” has earned the ire of the Comptroller and Auditor General (CAG).

“Four newly-constructed residential bungalows in Guru Teg Bahadur hospital were not occupied for more than five years rendering Rs 1.26 crore incurred on construction of these bungalows, unfruitful,” said CAG in its report.

As per the report, the construction of bungalows was completed in September 2008 at a total cost of Rs 1.26 crore.

KOEL gets HC nod for demerger of travel biz into separate unit

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Kirloskar Oil Engines Ltd (KOEL), India’s largest engine and genset manufacturer, today said it has received High Court order approving its demerger of travel services business into a separate unit.

As per the demerger scheme, Kirloskar Group transfered travel services business to a new company, Pneumatic Holdings Ltd, which would be listed separately, while merging two listed group firms.

Delhi Assembly passes budget for 2015-16

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The Delhi Assembly today passed the Rs 41,129 crore budget for 2015-16 — the first by the AAP government — with a major focus on education, health and transport sectors.

The budget was presented on June 25 by Deputy Chief Minister Manish Sisodia and it was passed by voice vote by the House after lengthy discussion.

The budget was seen to be aimed at AAP’s core constituencies of middle class and poor as the government did not announce any hike in Value Added Tax (VAT) but raised the luxury and entertainment tax which will pinch those going to to gym, club, spa and restaurants.

Uma Bharati seeks reassessment of expenses on renovation of

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Union Minister Uma Bharati has sought reassessment of the expenses incurred on renovation of her residence from a third party as she feels the assessment made is not correct.

“I have sought a reassessment on the expenses from a third party,” she said when asked about an RTI query on the expenses incurred for renovation of her residence and office.

An RTI activist had sought details of the expenditure incurred on renovation of Bharati’s residence and office after she assumed office.

The Minister is reportedly not satisfied with the assessments made.

Gehlot seeks expedition in implementation of scavenging Act

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Union Social Justice and Empowerment Minister Thaawar Chand Gehlot has sought expedition in the implementation of Prohibition of Employment as Manual Scavengers and their Rehabilitation Act, 2013.

The Minister said this while chairing the third meeting of the Central Monitoring Committee to review the implementation of the Act yesterday, a statement here said today.

The central Act was enacted by Parliament in September, 2013.

Valuables worth over Rs 2 crore stolen

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Some unidentified persons today decamped valuables including cash and jewelry worth over Rs 2.5 crore from the flat of a businessman in Greater Kailash area of South East Delhi, police said.

The thieves struck at the flat of one Sunil Kumar Agarwal when he had gone to his office. His wife Kumkum, who is daughter of ex-MP Kanwar Lal Bharti, was visiting her ailing mother in New Friends Colony, they said.

The thieves entered the flat by breaking the lock of the flat’s main door and stole the valuables including cash and jewelry, said a senior police officer.

Nation wide trade unions strike on Sep 2

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As many as 11 trade unions, including BJP-backed Bharatiya Mazdoor Sangh, will observe nationwide strike on September 2 against various issues, including “anti-labour” reforms, land acquisition bill and privatisation of public sector organisations.

HC asks govt to submit enquiry commission’s report in assembly

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Madras High Court today questioned the state government as to why the one-man commission’s report on the building collapse at suburban Moulivakkam here has not yet been tabled in the assembly.

Sixty-one persons lost their lives after the 11-storeyed building collapsed on June 28 last year. The state government had set up an inquiry commission to probe the circumstances leading to the collapse.

DMK leader M K Stalin and social activist ‘Traffic’ Ramaswamy moved the High Court seeking CBI inquiry on the incident.

300 booked for clash between two communities in Ghaziabad

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Police today booked 300 persons, including 23 identified accused, in connection with the clash between members of two communities over the use of loudspeakers during a religious function in Farid Nagar area here, police said.

FIR was registered against 300 people which also names 23 identified accused. Efforts are on to nab the identified accused allegedly involved in the incident, police said.

Sri Sri Ravi Shankar conferred with Peru’s highest award ‘Grand Officer’

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Spiritual leader Sri Sri Ravi Shankar was on Tuesday conferred with Peru’s one of the highest awards ‘Grand Officer’ for social work and mission to deliver peace through his foundation The Art of Living.

Andean Parliament in Lima honoured Sri with the award titled “Medalla de la Integracion en el Grado de Gran Oficial”.

While accepting the award he said, “We all need to work together to see this entire continent free from violence and stress.”

PM’s Digital India mega-plan kicks off today from Indore

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In a new initiative to improve digital network in both rural and urban areas, Prime Minister Narendra Modi will formally launch the Digital India Project via video conferencing in two village panchayats of Indore, Madhya Pradesh.

The Digital India Project, a pet scheme of the Modi government, aims to connect all gram panchayats by broadband internet, promote e-governance and transform India into a connected knowledge economy.