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JSW Steel gets Letter of Intent for Bhushan Power and Steel

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Nasheman News : The Committee of Creditors (CoC) for Bhushan Power and Steel has issued a Letter of Intent (LoI) to Sajjan Jindal owned JSW Steel, thereby declaring it a winning bidder for the bankrupt power company, sources said.

The development comes after the National Company Law Apellate Tribunal (NCLAT) last week turned down Tata Steel’s plea to consider its bid as the “most legitimate”.

People with knowledge of the developments said that JSW Steel has accepted the bid and the resolution professional would now approach the National Company Law Tribunal (NCLT) for the final approval on Wednesday and the procedure might conclude next month.

As per the protocol, NCLT will now have to give the stamp of approval for JSW Steel to acquire Bhushan Power and Steel.

JSW Steel’s revised bid of Rs 19,300 crore for Bhushan Power and Steel made it the top suitor ahead of Rs 19,000 crore bid by Liberty House UK and Tata Steel’s bid of nearly Rs 17,000 crore. The bankrupt company owes Rs 47,000 crore to the financial creditors.

For JSW, acquisition of Bhushan Power would allow it to retain the numero uno position in the Indian market for a long time to come with targeted capacity of 40 million tonnes by 2030.

Bhushan Power and Steel was one of the 12 biggest defaulters identified by the Reserve Bank of India (RBI) for insolvency proceedings in June 2017. Punjab National Bank (PNB) had dragged the bankrupt steelmaker for resolution under the Insolvency and Bankruptcy Code (IBC).

Priyanka given charge of 41 seats, Scindia 39 in UP

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New Delhi, Feb 12 (IANS) Congress President Rahul Gandhi on Tuesday put sister and party General Secretary Priyanka Gandhi in-charge of 41 Lok Sabha constituencies, including the family bastion of Amethi and Raebareli while General Secretary Jyotiraditya Scindia was entrusted with 39 constituencies in Uttar Pradesh.

Besides her brother’s constituency Amethi and mother Sonia Gandhi’s Raebreli, Priyanka has also been given the charge of Varanasi that
elected Prime Minister Narendra Modi and Chief Minister Yogi Adityanath’s home turf Gorakhpur.

The other key constituencies under her charge include Lucknow, Sultanpur, Phulpur, Allahabad, Barabanki and Kushinagar.

Among the key seats under Scindia include Saharanpur, Kairana, Muzaffarnagar, Moradabad, Ghaziabad, Mathura, Pilibhit, Dhaurahra,
Kanpur, and Farrukhabad and Samajwadi Party chief Akhilesh Yadav home turf of Mainpuri.

Both Priyanka and Scindia are in the state capital Lucknow interacting with party cadres to chalk out the roadmap for the Lok Sabha polls in the state which sends 80 members to the Lok Sabha.

Rahul Gandhi along with Priyanka and Scindia on Monday held a roadshow in Lucknow sounding the poll bugle for the state.

Shabana Azmi down with swine flu

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Nasheman News : Noted actress Shabana Azmi has been diagnosed with swine flu during a routine check-up for cough and cold. She is recuperating in the hospital.

However, she is using the time for productive pursuits. “Rarely, do I get a chance to lie back and introspect. This is an enforced break for me,” said Shabana.

“I have not been in contact with any swine whatsoever. But I am in hospital recovering fast,” she said. 

Banning of Unregulated Deposit Schemes Bill introduced in Lok Sabha

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Nasheman News : The Banning of Unregulated Deposit Schemes Bill, 2018, that provides for a comprehensive mechanism to protect the interest of depositors was introduced in the Lok Sabha on Tuesday.

However, the Bill, introduced by Finance Minister Piyush Goyal, could not be taken up for discussion.

Soon after the Bill was introduced, Biju Janata Dal’s Bhratruhari Mahtab urged the Chair to delay the discussion to Wednesday.

He also urged the Chair to pass the Jallianwala Bagh National Memorial (Amendment) Bill, 2018. “There is unanimity on these two Bills,” he said.

Parliamentary Affairs Minister Narendra Singh Tomar urged the members to pass the Bill to facilitate its passage by the Rajya Sabha on Wednesday.

Lok Sabha Speaker Sumitra Mahajan, after considering the view of the House said if all agree, she would suspend the Question Hour to take up the Bill. She then, adjourned the House.

The bill was initially introduced in Parliament on July 18, 2018, and was referred to the Standing Committee on Finance.

The last day (February 13) of the Winter Session, which would also be the last day of the 16th Lok Sabha, is all set to witness suspension of Question Hour.


Ex-acting CBI chief held guilty of contempt, sentenced till rising of court

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Nasheman News : The Supreme Court on Tuesday held former acting Director of CBI M. Nageswara Rao guilty of contempt of court and sentenced him along with agency’s legal advisor S. Bhasuran till the rising of the court.

A bench of Chief Justice Ranjan Gogoi, Justice L. Nageswara Rao and Justice Sanjiv Khanna also fined them Rs 1 lakh each. 

Chief Justice Gogoi said that in his last 20 years as a judge, he had not compromised on the dignity and honour of the court. 

Rao and the Central Bureau of Investigation (CBI)’s legal advisor earned the wrath of the court for relieving former Additional Director A.K. Sharma from the agency without taking prior nod of the top court.

Holding Rao guilty of contempt of court, the judges noted that on January 18, 2019, when Sharma was relieved, Rao was aware of the court’s two orders asking the people concerned to approach the court first.

However, the same day, he signed a draft order sent by Department of Personnel and Training (DoPT) relieving Sharma from the CBI without satisfying whether the top court had been taken into confidence.

Sharma, who was heading the investigating team probing the Muzaffarpur shelter home horror case, had said that he could not be shunted out as the CBI needed to take the court’s permission.

Not accepting the “unconditional” apology tendered by Nageswara Rao and Bhasuran, the court in its order said: “The apology tendered, though stated to be unconditional, is not so. There is a contention that the action were not wilful, with which we do not agree.”

“We do not understand nor can we appreciate and comprehend how Mr. Nageswara Rao… being aware of the court’s order, as the first note signed by him would indicate, and when he sought an affidavit to be filed before this court by his second note dated 18. 1. 2019, could without satisfying himself that this court has been taken into confidence approve the draft order relieving Mr. A.K. Sharma from the CBI and giving additional charge to G.K. Goswami.”

Bengaluru tax defaulter held in Mumbai, jailed for 6 months

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Nasheman News : A Bengaluru businessman was arrested in Mumbai and jailed for six months here for allegedly defaulting on payment of Rs 11.94 crore as income tax and penalty arrears, said a top official on Tuesday.

“For the first time in Karnataka, a Bengaluru businessman was stopped on Monday at the Mumbai airport from leaving the country and arrested for allegedly not paying Rs 11.94 crore income tax and penalty arrears,” said the Income Tax Department in a statement here without naming the defaulter.

A tax recovery officer sent the defaulter to the city central jail for six months after he failed to arrange for paying the tax arrears, including penalty and interest after he was brought from Mumbai under police custody.

Saudi Arabian Crown Prince on state visit to India next week

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Nasheman News : Saudi Arabia’s Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud will be on a two-day state visit India next week when he will hold talks with Prime Minister Narendra Modi on a range of issues including energy security, trade and investment and defence.

Beginning February 19, it will be first state visit of Prince Salman, who is also the Vice President of the Council of Ministers and Defence Minister, to India. 

He will hold bilateral talks with Prime Minister Modi on wide range of issues of mutual interest. 

A Ministry of External Affairs statement said that there has been significant progress in bilateral cooperation in key areas of mutual interest, including energy security, trade and investment, infrastructure, defence and security.

Modi had visited Saudi Arabia in April 2016 during which the two countries agreed to further elevate the existing strategic partnership.

Prince Salman will be accompanied by a high-level delegation including ministers, senior officials and leading Saudi businessmen. 

Saudi Arabia is India’s fourth largest trading partner with bilateral trade reaching $23.24 billion in April-November 2018. It supplies about 20 per cent of crude requirements to India.

Recently, Saudi ARAMCO, in partnership with ADNOC of the UAE, has entered into a Joint Venture for $44 billion Ratnagiri Refinery and Petro-Chemical Project Ltd. 

The release said that nearly 2.7 million strong Indian community forms the largest expatriate group in Saudi Arabia. 

“Their positive and highly-appreciated contribution to the development of their host country has been an important anchor of our excellent bilateral engagement. 

Over 1,75,000 Indians visit Saudi Arabia every year for Haj pilgrimage. 

During his visit, the Saudi Prince will also call on President Ram Nath Kovind. 


Punjab Police arrests 2 accused in Ludhiana gang rape case

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Nasheman News :  The Punjab Police has arrested two men who had allegedly gang-raped a 21-year-old woman in Ludhiana district.

Police officials said on Wednesday that raids were being conducted at various places by different police teams to nab the remaining accused.

Those arrested so far include Jagroop Singh and Sadik Ali, Deputy Inspector General (DIG) of Police Ranbir Singh Khatra said. Both accused are residents of Ludhiana district.

Khatra said police investigations have revealed that six men were involved in the gang rape of the young woman on February 9 night when she was driving along a canal in a car with her male friend.

The victim had alleged that she was gang raped by at least 10 men after she and her friend were attacked and abducted.

Both were taken in their car to an isolated plot in the Issewal area of Ludhiana district and the woman was gang raped while her friend was held captive.

Police officials said that raids are being conducted to arrest the four other accused. These include Ajay Kumar, Syed Ali, Surma and another one (not yet identified but relative of Surma).

All the suspects are in the 25-30 age group, police officials said.

The police registered a case of rape and under other sections of the Indian Penal Code against the accused.

Khatra had earlier admitted that there were lapses by the local police in dealing with the matter due to which the gruesome crime took place.

Assistant Sub-Inspector Vijay Rattan was suspended for dereliction of duty as he had failed to investigate the matter seriously and did not inform his seniors about it after receiving a complaint about the incident.

The accused had called up a friend of the rape victim’s friend and demanded a ransom of Rs 2 lakh. The friend approached the police following the call but the police did not take immediate action.

The couple were set free on Sunday following which they complained to the police.

SP-BSP delegation meets UP Governor to protest grounding of Akhilesh

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Nasheman News : A delegation of the Samajwadi Party (SP) and its ally Bahujan Samaj Party (BSP) met Uttar Pradesh Governor Ram Naik at the Raj Bhawan on Wednesday and submitted a memorandum against the grounding of SP chief Akhilesh Yadav at the Chaudhary Charan Singh International Airport here.

The 15-member delegation, led by senior party leaders Ahmad Hasan and Rajendra Chowdhary, apprised the Governor of the development and registered their protest against what they termed was throttling of democratic and political rights. 

BSP supremo Mayawati has already castigated the Yogi Adityanath government over the action and called it a conspiracy to thwart their political movement across the state.

Yadav was to take a private chartered flight to Prayagraj on Tuesday where he was to attend a students union event, which was disapproved by the Allahabad University officials. 

The former Chief Minister was asked by district officials of Lucknow to go back to his home as the Allahabad administration had apprehended law and order issues if the SP leader visited the campus.

The incident had sparked protests across the state with SP workers disrupting traffic, taking to the roads and attacking government property. 

Shuttlers Lakshya, Sourabh make winning start at senior Nationals

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Nasheman News :  A day after leading the Airports Authority of India (AAI) to their maiden Inter-State Inter-Zonal title, Lakshya Sen carried his impeccable form to make a winning start at the 83rd senior National badminton championships here on Tuesday.

The Asian junior champion, seeded 14th at India’s biggest domestic event, needed 28 minutes to dismiss Rahul Patel 21-13, 21-13 on his way to the third round.

Sen, who will face Vipul Saini next, had reached the semi-finals in the previous edition and is looking to improve on that.

Former two-time champion Sourabh Verma of PSPB also began his campaign on a positive note with a commanding 21-10, 21-8 demolition of Jayapragasham VS.

The first day of the Nationals witnessed as many as 250 matches played on 9 different courts. 

The hosts had a lot to cheer about on Day 1 as five singles shuttlers from Assam won their opening round matches. Iman Sonowal set up a clash with Sourabh Verma after outplaying Jammu and Kashmir’s Raghav Dogra 21-9, 21-3.

Assam’s Orijit Chaliha lost to Mithun Manjunath 21-11;21-9 in the second round; earlier Orijit emerged a winner 21-14, 21-18 over Gujarat’s Vishal Dave while Rituporna Bora defeated West Bengal’s Anirban Mandal 21-5, 21-18.

In women’s singles, Megha Bora Morchana had it easy against Nagaland’s Ekumyala whom she beat 21-9, 21-14. Suzen Burhagohain advanced when Goa’s Yasmin Syed retired, trailing 2-3.

Among other matches, 2018 Ghana International winner Harsheel Dani won a blockbuster battle between two of India’s rising stars when he prevailed over former World Junior Championships silver medallist Siril Verma 23-21, 21-17 to reach the third round.

Men’s singles top seed Arintap Dasgupta completely outclassed Anay Shirpurkar 21-8, 21-5 while fifth seed Rahul Yadav Chittaboina needed 32 minutes to show the door to Karan Choudhary 21-17, 21-8. Sixth seed Aryamann Tandon blitzed past Bidyasagar Salam 21-6, 21-6 en route to Round 3.

Mixed doubles seventh seeds Manu Attri and Maneesha K hardly broke sweat in their 21-5, 21-6 destruction of Mohit Tiwari and Smirti Nagarkoti. Jammu and Kashmir’s Dogra and Rupal Anand notched up a fine 21-12, 21-15 victory over Sikkim’s Rewash Rai and Tashi Choden Gurung.

Shlok Ramchandran, who played a brilliant role in guiding the AAI to their Inter-Zonal triumph, hardly faced any hassle in his mixed doubles opener in partnership with Mithula UK. The two teamed up to beat Akshit Mahajan and Anupama Upadhyaya 21-12, 21-19 en route to the third round.

The preliminaries will continue till Wednesday and will decide who all get to meet the top eight singles seeds who will begin their challenge directly from the pre-quarters. 

Similarly, in doubles, the top four teams have been exempted from playing until the quarters.

The seeds will be placed after the Super Draw is conducted on Thursday. 

Saina Nehwal and P.V. Sindhu will be the top attractions in women’s singles. In the absence of defending champion H.S. Prannoy and former winner Kidambi Srikanth, BWF World Tour Finals semi-finalist Sameer Verma will be the biggest name in men’s singles.

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