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Rich can’t bypass tiers of court & come directly to us: Supreme Court | India News

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Rich can’t bypass tiers of court & come directly to us: Supreme Court

NEW DELHI: Supreme Court under the leadership of CJI Surya Kant maintained its stand for equitable distribution of judicial time for litigants irrespective of their status, and said on Tuesday that the rich and influential could not bypass tiers of judiciary to move the SC directly.When an accused sought hearing of his petition challenging validity of a provision of PMLA, the bench said, “You have started a unique kind of litigation. Because you are rich and influential, you can move SC directly at every stage of trial.”“Rich and influential will not be allowed to bypass the tiers of justice delivery system and seek direct audience in SC. They must face trial like ordinary citizens,” the bench said, refusing to entertain the plea.CJI Kant said there are many pleas pending which have challenged validity of PMLA, and time permitting, these would be heard together by the end of this month.When advocate Sidharth Luthra said the petition challenging a provision of PMLA, Sec 44(1) (c), could be tagged with pending pleas, the bench said Luthra can join proceedings but for that a separate plea need not be entertained.

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To boost civilian ties in border areas, Army sets up solar plant in Sikkim, water facility in Arunachal | India News

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To boost civilian ties in border areas, Army sets up solar plant in Sikkim, water facility in Arunachal

NEW DELHI: To enhance civil-military cooperation and improve the quality of life in remote border areas, the Indian Army has constructed a 10-KW solar power plant in north Sikkim and a water storage facility in Arunachal Pradesh.“Trishakti Corps of the Indian Army has established a 10-KW solar power plant at Muguthang village, North Sikkim”, located at an altitude of around 15,000 feet near the China border, an official statement said. “Reliable electricity has enabled year-round habitation and improved safety in this remote border village,” it said.

Army jawans installing a 10KW power plant at Muguthang village in North Sikkim. Credit: Trishakticorps_IA

Muguthang is a sparsely populated border village with 32 residents from 10 families. The plant has improved night-time safety, enhancing connectivity and eliminating the need for seasonal migration during the harsh winter months. Earlier, due to the absence of a dependable power supply, villagers relied on small personal solar panels and were compelled to migrate to other areas for nearly 5-6 months every year, leaving behind their homes and livestock.

A log hut with a water storage facility built at Ojugo village in Taksing, Upper Subansiri district, Arunachal. Credit: SpearCorps.IndianArmy

In Arunachal Pradesh, Army troops from Spear Corps have constructed a log hut with water storage facility at Ojugo village in Taksing, Upper Subansiri district. The newly constructed facility will provide essential shelter and assured water availability. “The initiative under Operation Sadbhavana ensures basic amenities in remote areas, benefiting local villagers and graziers,” Spear Corps posted on X.Also, the Army on Monday flagged off an eco-tourism exposure tour from Along Military Station, Arunachal, marking a significant step towards youth empowerment and sustainable development in the border regions.

A log hut with a water storage facility built at Ojugo village in Taksing, Upper Subansiri district, Arunachal. Credit: SpearCorps.IndianArmy

Prior to the tour, a comprehensive three-day homestay and eco-tourism training capsule was conducted at Aalo, during which 30 students and two instructors were familiarised with the fundamentals of community-based tourism, responsible travel practices, and the economic potential of eco-tourism in Arunachal.In Manipur, Red Shield Division under SpearCorps inaugurated a textile unit and Yarn Bank at Nungkot, empowering Kom women weavers through skill training and livelihood support. A visit to IDP Camp Lamlai was also organised and raw material for handloom and tailoring units were distributed.

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PIOs in UK see wealth soar, whilst Pakistanis see ‘notable decline’: LSE report

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PIOs in UK see wealth soar, whilst Pakistanis see ‘notable decline’: LSE report

LONDON: Individuals from white British and Indian ethnic groups have seen substantial increases in median wealth in Britain since 2012, whilst the wealth of those of Pakistani ethnicity has seen a marked decline, a new report from the London School of Economics (LSE) shows.Individuals from Asian Other and white Other ethnic groups also experienced substantial increases in median wealth from 2012/2014 up to 2021/2023, In contrast, wealth among individuals from the Pakistani ethnic group dropped sharply and black African, black Caribbean, and Bangladeshi ethnic groups remained with “almost no accumulated household wealth throughout”, it said.The largest gains were experienced by the Indian and Asian Other groups, with median wealth rising by £93,000 for the Indian ethnic group.UK-born adults from the Indian group “have a clear wealth advantage” over both non-UK-born Indians and the white British group, it said.The report, titled “The Ethnic Wealth Divide in the UK: Mapping Disparities Across Time, Age and Immigrant Generations”, by Eleni Karagiannaki, research fellow at LSE, used data from the UK Household Longitudinal Survey to show how ethnic wealth gaps have widened in 24-month periods from 2012/14 to 2021/2023.Adults from Pakistani, Bangladeshi, black Caribbean, and black African ethnic groups reported significantly lower savings than those from the white British, Other Asian, and Indian ethnic groups, with PIOs recording the highest levels. More than 50% of adults among the Bangladeshi, Pakistani, and black African groups had no savings.Whilst white British, white other, and Indian individuals are more likely to move up from the bottom quartile, Pakistani and black African individuals are more vulnerable to downward mobility from the top, it said.In 2012/14, adults in the white British, Indian, and Asian Other groups already had higher rates of home and investment ownership compared to other groups. By 2021/23, these gaps had widened further, as these groups increased ownership while Bangladeshi, black Caribbean, and Pakistani groups saw sharp declines, particularly in home ownership.“Indian and white British groups typically experience steadier income growth across the life-course, enabling earlier asset accumulation. Pakistani and Bangladeshi groups exhibit the widest income gaps relative to the white British group than any ethnic minority group,” it said.

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CCI may hold senior execs of steel companies accountable

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CCI may hold senior execs of steel companies accountable

CCI has invoked section 48 of the law, which extends liability to senior executives in charge of company operations. Under this provision, individuals can be held personally accountable and face penalties of up to 10% of their average income over the last three financial years if the violations are proven.Last week, TOI had sent questionnaires to several companies that are under probe but they did not respond to the queries.Based on the investigation by its director general (DG) investigation, the CCI issued an order to the 31 steel companies named in the probe. The firms were directed to submit their audited financial statements, including balance sheets, income and expenditure accounts and profit & loss accounts, for the period from 2015-16 to 2022-23. They have also been asked to provide certified details of turnover linked to the alleged violations, this information is usually used to assess potential penalties, if any.

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ET NOW & ET NOW Swadesh set to roll out ‘Budget Yatra’

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ET NOW & ET NOW Swadesh set to roll out 'Budget Yatra'

MUMBAI: ET NOW and ET NOW Swadesh are set to roll out Budget Bharat Yatra 2026, an initiative that seeks to create grassroots-driven budget expectation series, emphasising how the Union Budget can unlock opportunities for businesses, youth, MSMEs, and the next generation of entrepreneurs.Budget Yatra 2026 will be a month-long, multi-city series designed to go beyond metro narratives and bring voices from India’s industrial corridors, business hubs, and emerging growth centres to the forefront, a press release said. It will capture insights from – entrepreneurs, industry leaders, MSMEs, start-ups, workers, traders, young professionals and first-time taxpayers. It will travel across multiple cities – Indore and Chennai, to Bengaluru, Kanpur, Lucknow, Meerut, Vishakhapatnam, Surat, Hyderabad, Baroda and Ahmedabad. Special focus areas include growth, employment, taxation, investment, and govt policy expectations.The aim is to provide policymakers, businesses, and viewers with a 360-degree view of India’s economic pulse – ensuring that voices from beyond the metros play a central role in shaping the national budget conversation.

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IT firms brace for soft Q3, mid-caps to beat larger cos

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IT firms brace for soft Q3, mid-caps to beat larger cos

BENGALURU: Indian IT firms are expected to deliver a moderate performance in a seasonally weak Dec quarter, weighed down by furloughs (lesser number of working days in Dec). Demand remained subdued, with only limited recovery in discretionary spending, and growth was largely driven by clients’ cost-optimisation priorities. Brokerages estimate that enterprise technology spending is likely to remain broadly stable in 2026. However, clients are yet to loosen their wallets for incremental spending on large transformation projects. Elara Capital’s commentary indicates that midcap IT firms are likely to outperform large caps in Q3. Coforge and Persistent Systems are expected to post strong sequential dollar revenue growth of around 3%. LTIMindtree and Mphasis should follow, with dollar revenue growth in the 1-2% range. Mphasis’ revenue is expected to grow about 1% quarter on quarter, led by media & telecom and insurance, while BFSI may see some impact from furloughs. LTIMindtree may report around 2% sequential dollar revenue growth, driven by manufacturing and retail, even as BFSI is likely to be affected by furloughs.Motilal Oswal estimates that midcaps are expected to outperform once again, with a growth range of -2.5% to 3.5%. Kotak Equities said seasonal trends should drive a strong performance at HCLTech (2.8%) and a weak performance at Infosys (0.3% sequential decline). Organic revenue growth at TCS, Wipro and Tech Mahindra is expected to be in the 0.3-0.9% range.

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Veterans, fresh faces ready finance minister Nirmala Sitharaman’s 9th Budget

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Veterans, fresh faces ready finance minister Nirmala Sitharaman's 9th Budget

NEW DELHI: Finance minister Nirmala Sitharaman, who is due to present a record ninth consecutive budget, is working with a team of officials which is a mix of experience and fresh faces.It is likely that for the first time in recent years, she will not have a finance secretary, a first among equals, leaving it to Anuradha Thakur to coordinate the exercise. Public enterprises secretary K Moses Chelai is the senior most secretary in the departments that are part of Sitharaman’s team, but his department has little to do with the budget exercise.Only four members from the last budget team remain – CBDT chairman Ravi Agrawal, Dipam secretary Arunish Chawla, financial services secretary M Nagaraju and chief economic adviser V Anantha Nageswaran. The three key secretaries, V Vualnam (expenditure), Arvind Shrivastava (revenue) and Thakur (economic affairs) took over their current roles this summer.

Veterans, fresh faces ready FM’s 9th Budget

Vivek Chaturvedi took over as Central Board of Indirect Taxes and Customs (CBIC) chairman in Dec and Vyasan R, the joint secretary in-charge of the budget division, also moved into his current assignment only a few months ago. Of course, Vyasan is no stranger to the budget exercise as he was part of the team earlier as well.In fact, revenue secretary Shrivastava too is a veteran, having led the budget division for several years, before moving to the Prime Minister’s Office, where he was part of the discussions for the annual exercise that not only focuses on the Centre’s receipts and budget but also includes key policy and reform-related announcements.Since Sitharaman moved into North Block in 2019, she has dealt with several officers with long tenures in the finance ministry – T V Somanathan was expenditure secretary before he took over as Cabinet secretary last year, Ajay Seth, who was economic affairs secretary, and Tuhin Kanta Pandey, the longest-serving Dipam secretary, who was finance secretary and in-charge of revenue during the last budget. This year, the expenditure department will have an additional role as the Finance Commission’s recommendations are being reviewed and the devolution formula along with the other proposals will be announced in the budget.

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RBI tightens dividend payout rules for banks

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RBI tightens dividend payout rules for banks

MUMBAI: RBI has issued draft rules to tighten dividend payouts by banks by linking distributions to capital adequacy, asset and profit quality, setting a uniform prudential framework effective from FY27. In the previous financial year, banks paid over Rs 75,000 crore dividend after booking record profits.Under RBI’s draft rules, dividend payments by banks will be governed by a common set of conditions from FY27. The directions apply to all banking companies, corresponding new banks and SBI, and to foreign banks operating in India in branch mode. Small finance banks, local area banks, payments banks, and regional rural banks are excluded from the framework.According to the draft, a bank can declare an equity dividend, or remit profits in the case of foreign bank branches, only if it meets all eligibility conditions. These include compliance with minimum regulatory capital requirements and buffers, including the additional buffer for domestic systemically important banks, at the end of the previous financial year and after the proposed dividend payout. Capital ratios must not fall below regulatory thresholds after the dividend is paid. Indian-incorporated banks must report a positive adjusted profit after tax for the year in which the dividend is proposed, calculated as profit after tax minus net NPAs. Foreign banks in branch mode must report positive profit after tax for the relevant period. If any of these conditions is not met, the bank cannot declare a dividend or remit profits for that period, and no special dispensation will be allowed. RBI has retained the right to impose restrictions where a bank is found to be non-compliant with laws or regulatory guidelines.The framework links dividend payouts directly to capital strength through a graded structure based on common equity tier 1 ratios.

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Stock fall not linked to reports of Russian oil imports: RIL

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Stock fall not linked to reports of Russian oil imports: RIL

NEW DELHI: Reliance Industries informed the BSE on Tuesday that there was no linkage between the fall in its share price and the news report on Russian oil imports, and that it had not purchased any crude from Russia for delivery in January.Bloomberg had earlier reported that at least three tankers carrying nearly 2.2 million barrels of Urals crude (a grade of Russian oil) were headed towards the Sikka port, from where RIL’s Jamnagar refinery sources a significant portion of its oil imports. Reliance said the report was published despite its prior denial and was “blatantly untrue”. Bloomberg later updated the article to clarify that the Russian oil cargoes earlier linked to Reliance were discharged at other locations and were not associated with Reliance’s Jamnagar refinery.“Reliance Industries’ Jamnagar refinery has not received any cargo of Russian oil in the past three weeks approximately and is not expecting any Russian crude oil deliveries in Jan,” the company said in a statement on X.RIL shares fell 4.4% on the BSE on Tuesday.

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Wayne Gretzky and Janet Jones Gretzky’s love story: Inside the NHL legend and wife’s relationship timeline, family life, and personal journey | NHL News

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Wayne Gretzky and Janet Jones Gretzky’s love story: Inside the NHL legend and wife's relationship timeline, family life, and personal journey
Wayne Gretzky and his wife Janet Jones (Credit: Getty Images)

The contributions of Wayne Gretzky to the game of hockey are immeasurable, and he has played his career with the Edmonton Oilers, Los Angeles Kings, St. Louis Blues, and New York Rangers. His wife, Janet Jones Gretzky, has had an equally inspirational personal life, albeit at the same time that his fans are reveling in his on-ice achievements. It is a mix of Hollywood sense of charm, the heritage of sports, and the level of family commitment that makes their story a favorite among the ardent followers of the sport, as well as the rest of the world.Janet Jones Gretzky is a successful actress and dancer in America, and the first woman to bump into Gretzky was on the set of Dance Fever in 1984. The two met again professionally but eventually got back together in 1987 and finally got married on television in Edmonton in July 1988. They have, over the years, produced five children, Paulina, Ty, Trevor, Tristan, and Emma, and have been able to balance both their parenthood and the continued appearance of Gretzky in NHL news and events.

Wayne Gretzky and Janet Jones Gretzky’s love story timeline and their personal journey

The relationship between Wayne Gretzky and Janet Jones Gretzky started in 1984 when Gretzky, being a star player of the Edmonton Oilers, was one of the judges of the dance program Dance Fever. He was immediately impressed by Janet, who is a professional dancer and actress; their romance really came into play after they rekindled their relationship in 1987. In July 1988, their relationship reached its peak with a high-profile marriage in Edmonton, and this marked the beginning of a long-lasting partnership between the two.Janet was supportive throughout Gretzky’s career in the NHL, both when he played for the Los Angeles Kings and when he worked as a coach and manager. She frequently made appearances at NHL events, charity games, and other civic engagements. She easily balanced her career as an entertainer with her need to be married to a hockey legend. The fact that the couple is able to balance fame and a good family life is often discussed in the NHL news magazines as well as in the interviews.Gretzky has five children: Paulina, Ty, Trevor, Tristan, and Emma. All children have been able to develop personal interests, such as sports or arts, that make them balanced in their upbringing, as was stressed by their parents. The family is not a passive participant in social life; they can be observed in the present day watching NHL matches, charity events, and social appearances. The fans of Gretzky still enjoy the way the family balances on both personalities and NHL news, trade speculations, and match outcomes that keep the hockey world abuzz.The love affair between Wayne Gretzky and Janet Jones Gretzky is not just a star romance but an affirmation of a long-lasting relationship, family principles, and the capability to stay together despite the busy schedule of professional hockey.Also Read: Brad Marchand’s lifestyle: Inside Florida Panthers star’s early life, NHL career, and personal adventures

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