First India-Delhi Edition-23rd September 2022

CONG’S PITCHES PARTY IN ‘A STATE OF UNCERTAINITY’!

Rahul steadfast on one person, one post; Gehlot cites ‘dangers’ before Raj government if face changes!

Aditi Nagar

New Delhi: The search for the next Congress President seems to be swinging like a pendu lum between Congress’ recent ‘commitment’ to the ‘One person, One post’ thought and vari ous hurdles in imple mentation of the said idea. As of now there ex

ists, as the media would term it, ‘a state of uncer tainty’ in the Congress, but if Congress leaders are to be believed, this is the ‘internal democracy’ of ButCongress.why is this so?

Well, for one, there is a ‘controversy’ over who would head the party and the government in Rajasthan. In this whole

episode, 5-6 people were consulted and everyone gave their different opin ion citing September.ofoverGehlotturmoil’,ingpathhourWednesday’s‘democracy’.two-meetingat10,JaninDelhiwasnothshortofa‘politicalasononehand,wastoldtotaketheresponsibilitypartypresidentby

15 STATES, OVER 106 HELD

...NIA’s ‘largest-ever’ anti-terror raids against Popular Front of India

PFI calls for a dawn-todusk strike in Kerala today to mark their protest

Moni Sharma

New Delhi: In simulta neous raids across the length and breadth of country, a multi-agency operation spearheaded by the NIA on Thursday led to the arrest of 106 activists of PFI in 15 states and 93 locations for allegedly support ing terror activities in country, officials said.

The maximum num ber of arrests were made in Kerala followed by Maharashtra and Karnataka, TN, Assam, UP, AP, MP, Puducherry, Delhi & Rajasthan. Ar rests were made during raids which have been termed as the “largestever investigation pro cess till date”. Raids are being carried out against those involved in terror funding, or ganising training camps and radicalising others to join extremist groups. Formed in 2006, PFI claims to strive for a neo-social movement ostensibly for empower ment of marginalised sections of India.

The maximum number of 22 arrests of the PFI org were made in Kerala

PFI chief OMA Salam, State chief CP Mohammed, nat’l secy Nazarudheen were arrested

United Nations: In its sharpest statement on the Russia-Ukraine war yet, India on Thursday “strongly” called for an end to the armed con flict and said the situa tion was a matter of “profound

iterating need for an immediate cessation of all hostilities, as Modi said, this cannot be an era of war,” he said. in

SHAH DISCUSSES ACTION AGAINST PFI WORKERS, TERROR SUSPECTS

Home Minister Amit Shah on Thursday held a meeting wherein the ongoing searches at premises linked to the Popular Front of India and action against suspects.terrorNSA

Ajit Doval, Union Home Secy Ajay Bhalla, DG NIA Dinkar Gupta were among the top officials who attended the high-level meeting. Shah is said to have took stock of the action taken against the terror suspects and activists of the PFI across the country, an official said.

ZERO TOLERANCE...: RAHUL GANDHI ON PFI AND SDPI RAIDS

Senior Congress leader Rahul Gandhi on Thursday called for ‘zero tolerance’ in deal ing with ‘communalism and violence’ and said, “... regardless of where they come from... (all) are the same...”.

DELHI COURT GRANTS NIA 4-DAY CUSTODY OF 18 PFI MEMBERS

A Delhi court on Thursday sent 18 activists of the Popular Front of India (PFI), arrested from different parts of the country in a multi-agency operation led by the NIA, to four days’ custodial interrogation for alleg edly supporting terror activities. P3

The search es takingare place on the premises of persons involved in

tions.proscribedisingcamps,organisingterror-funding,trainingandradicalpeopletojoinorganisa

New Delhi: The defence ministry on Thursday inked a Rs 1,700 crore contract for supply of additional BrahMos su personic cruise mis siles, with a strike range of 290-km, for the Navy‘s frontline warships.

The contract for the “dual role” surface-tosurface missiles, capa ble of both land attack and anti-ship strikes, was inked between the MoD’s acquisitions wing and the M/s BrahMos Aerospace Pvt Ltd.

“Induction of these missiles will further en

hance the Navy’s opera tional capability. The contract will also boost indigenous production of critical weapon sys tem and ammunition, with active participa tion of domestic indus try,” MoD official said.

—NIA official

CONGRESS ISSUES NOTIFICATION FOR AICC PRESIDENT POLLS

C ongress on Thursday issued a notification for the party president poll, setting the ball rolling for elect ing the successor to the longest-serving chief Sonia Gandhi, with senior leaders Ashok Gehlot and Shashi Tharoor being seen as potential contenders. Rahul urged candidate who would succeed Sonia in poll to keep in mind that he “represents a set of ideas and be lief system and vision of India,” calling the job of Cong president an “ideological office.”

RAHUL GANDHI: ONE-MAN, ONE-POST COMMITMENT TO BE MAINTAINED

Senior Congress leader Rahul Gandhi on Thursday batted for the “one-man, one-post” concept in lines with the Chintan Shivir reforms and indicated he may not run for the party president’s post.

Mohan Bhagwat is ‘RASHTRA PITA’: Top Muslim cleric

Bhagwat meets Imam Umer Ahmed Ilyasi in New Delhi

New Delhi: Reaching out to the Muslim com munity, RSS chief Mo han Bhagwat, along with senior Sangh functionar ies, on Thursday met Imam Umer Ahmed Il yasi, the chief of All In dia Imam Organisation.

The closed-door meeting lasted for over an hour.

RSS chief has been holding discussions with Muslim intellectu als for fromBhagwatouswasAmbekarRSScommunalstrengtheningharmony.spokespersonSunilsaidmeetingpartofthecontinudiscussionprocess,meetspeopleallwalksoflife.

Mohan Bhagwat ji visited on my invitation today. He’s ‘rashtra-pita’ and ‘rashtra-rishi’, a good message will go out from his visit. Our ways of wor shipping god are different, but the biggest religion is humanity. We believe the country comes first.

—Umer Ahmed Ilyasi, All India Imam Org Chief DELHI TO SOON:ANNOUNCEDBESOURCES

High Court reserves verdict on LG’s defamation suit against AAP leaders

First India Bureau New Delhi: The Delhi High Court on Thurs day reserved verdict on a defamation suit filed by Lieutenant Gover nor Vinai Kumar Saxe na against the Aam Aadmi Party (AAP) and its leaders, including MP Sanjay Singh, MLAs Atishi Marlena, Sau rabh Bhardwaj, Durgesh Pathak, and DDC

Representing the LG, Senior Advocates Ma hesh Jethmalani and Maninder Singh termed the allegations as bla tantly false and defama tory. Appearing for the AAP leaders, Senior Advocates Sandeep Sethi and Rajiv Nayar contended that as the veracity of allega tions would be decided at the stage of trial, the court should not pass an stage.orderinjunctionatthis Saxena ordered

Ministry of Defence signs a contract with BAPL on Thursday.

l Protests in Russia, over 1k detained as Putin orders partial military call-up l Russia’s Foreign Min Ser gei Lavrov walks out at UN

Modi has powerful voice in world: UK

PM Modi has a powerful, influential voice on world stage and Russia respects India’s position on global arena, UK Foreign Secre tary James Cleverly said.

NIA’s base less claims and sensa tionalism are solely aimed at creating an atmosphere of terror. The Front will “never ever surrender” on the action taken by a “totalitarian regime”.

—Popular Front of India

Police enter into scuffle while they attempt to detain the PFI and Social Democratic Party of India (SDPI) workers during a protest against the raids of NIA, in Hubballi on Thursday. —PHOTOS BY ANI

NIA official during the raid at the Popular Front of India (PFI) office, in Chennai on Thursday.

RSS Chief Mohan Bhagwat leaves after meeting All India Imam Organisation Chief Umer Ahmed Ilyasi, at a mosque in New Delhi on Thursday. (Bottom) RSS Chief during his visit at a mosque.

Wednesday’s meeting deliberated on points if Gehlot would vacate CM post before or after filing nomination. Names of Dr CP Joshi, Bhanwar Jitendra Singh and Dr Raghu Sharma discussed for the CM post even as Priyanka bats for Sachin!

Congress leaders Rahul Gandhi, Ashok Gehlot, Ramesh Chennithala, Govind Singh Dotasra and other

Cong supporters holding tricolors during the party’s Bharat Jodo Yatra, in Chirangara on Thursday.

rainsIncessantlead to traffictreesuprootingwaterlogging,ofandlongjams

New Delhi (PTI): A portion of a road caved in as incessant rains pounded Delhi leading to waterlogging and up rooting of trees that caused massive traffic snarls in many parts of the capital on Thursday.

The Delhi Traffic Po lice Helpline received 23 calls related to traffic jam, seven PhirniTrafficdueLightfromontion.aboutterPolicehere.Therariwerethatothers,MayapuribodhParkAIIMSalsocialslowingothersKuanDwarkaRoad,numanhar,RingYamunaChawk,jamoftreesrelatedwaterloggingregardingandtwotouprootingoffromvariouspartsthecity,officialssaid.CallsrelatedtrafficfromKhajuriGoyalaDairy,Bridge,OuterRoadPaschimViRohiniSector-8,HaMandirPusaAzadMarket,flyover,DhaulatoGurgaonamongwerereceivedfoltherains,offisaid.Waterloggingwasreportedfromflyover,RajdhanitoMundka,NigamGhat,nearflyoveramongtheysaid,addinguprootingoftreesreportedfromBuandAbaiMargDelhiTrafficalsotooktoTwittoguidecommutersthetrafficsitua"TrafficisaffectedthecarriagewayMahipalPurRedtowardsMehraulitowaterlogging.isaffectedonRoadandTooda

Day of mayhem as heavy rains, squall pound NCR

Mandi Red Light, Najaf garh due to waterlog ging," it "Kindlytweeted.avoid travel ling on Mahatma Gan dhi Marg from Moti Bagh Junction towards Dhaula Kuan due to wa terlogging near Shanti

Niketan," it said in an other tweet.

A portion of a road caved in near Satya Ni ketan and only two lanes of the four were functional, due to which heavy traffic was re ported on the stretch.

Bobby

First India Bureau

New Delhi: The Su preme Court has ex pressed hope that the fi nal Master Plan for Delhi (MPD) 2041 would be published on or before April 30 next year. The apex court observed that the notification of the Master Plan cannot re main in limbo. The MPD2041 is a ‘strategic’ and ‘enabling’ framework to guide future growth of the city, built upon the lessons learnt from the implementation of the previous plans.

A bench of Justices Sanjay Kishan Kaul and Abhay S Oka made the statement after Addi tional Solicitor General Aishwarya Bhati gave the cut-off dates for fi nal approval and notifi cation of the MPD-2041.

The ASG said the MPD2041 will be placed be fore the Authority in the first week of December 2022, and any modifica tions in the document will be done by the last week of December 2022.

ASG Bhati informed the apex court that a let ter will be sent to the Ministry of Housing and Urban Development for final approval and notification of MPD-

2041 by January 15, 2023.

"We are sure that the final Master Plan would be published on or be fore April 30, 2023," the bench said. On the pre vious date of hearing on August 24, the top court had directed the counsel for the DDA and the ASG “to obtain neces sary instructions from the Department con cerned as within how much time the Master

Plan will be notified".

“We are not willing to accept a simple state ment that it is at an ad vanced stage. If the counsels by the next date are of the view that better assistance can only be given by the Sec retary, Urban Develop ment and the Vice Chairman, DDA, we may have the pleasure of their presence to as sist us," the top court

hadThewarned.apex court-ap pointed Justice Pradeep Nandrajog, retired Chief Justice of the Bombay HC and Justice GS Sistani, retired Judge of the Delhi High Court who would take a call on all these applica tions keeping the afore said conspectus in mind. We have opined that once the Judicial Com mittee so appointed di rects de-sealing or re jects the same, the appli cation would lie to this Court and we would be adopting the SLP ap proach. This would fa cilitate a quick disposal of almost 150 applica tions pending which continue to rise and it is extremely essential that people who are compli ant get the remedy at the earliest," said the bench.

WORRIED LOT

First India Bureau

New Delhi (ANI): The Principal District and Sessions Court of Rouse Avenue Courts on Thursday reserved the order on the En forcement Directorate petition seeking the transfer of a money laundering case related to Delhi Minister Satyendar Jain.

Court reserves order on ED plea seeking transfer of Jain case ED judge.casetransfersoughthadtheofthetoanotherEarlierthecasewasheardbySpecialJudgeGeetanjaliGoel

The Principal Dis trict and Sessions Judge Vinay Kumar Gupta re served the order after the conclusion of lengthy arguments made by both sides. The ED had sought the transfer of the case to another judge. Earlier the matter was heard by Special Judge Geetan jaliSupremeGoel. Court on Wednesday directed Rouse Avenue Court to consider on Thursday a plea by the ED seeking the transfer of Delhi Minister Satyendar Jain’s bail hearing.

During arguments of ED, ASG SV Raju sub

mitted that there was an attempt to seek med ical bail by using false medical reports. The court didn’t take any ac tion. He has been han dling the Delhi Prisons too as a Minister and can use power, money and influence.

New Delhi: A Delhi court on Thursday granted interim bail to bodybuilder and social media influencer Bobby Kataria in connection with a video showing him smoking on a Spice JetKatariaflight. had moved an anticipatory bail plea in relation to an FIR regis tered against him for al legedly smoking on board during his jour ney from Dubai to Delhi on January 21, 2022, on the complaint of Spice Jet Ltd. The FIR was reg istered against Balwant "Bobby" Kataria on Au gust 14. The Principal District and Sessions Dharmesh Sharma granted bail to Kataria.

Senior Advocate Vi kas Pahwa had appeared for Kataria and argued that it was an admitted fact of the prosecution that there was no eye witness or crew mem ber near the applicant's seat when the alleged incident took place which by itself is highly improbable. A Delhi Court had also issued a non-bailable Warrant against Kataria on Sep tember 7. Delhi police had received a com plaint in August month against Kataria from SpiceJet manager Jas bir Singh.

Faced with delays in entry to Delhi airport, staff seek DIAL intervention

lll

Airport staff is concerned theytheirdeductionaboutinpaysasfaceadelayof40minutesdailytoentertheairportthroughSteelgate11atTerminal3

New Delhi (ANI): Staff at the airport in the national capital have written to Delhi International Airport Limited (DIAL) urging its intervention to re dress the issue of the huge amount of time they are forced to spend entering the airport, due to which they fear salary cuts as they are unable to report for duty on time.

The staff of the Del hi airport is concerned about deduction in

their pays as the em ployees face a delay of 40 minutes daily to en ter the airport through Steel gate 11 at Termi nal 3 (T3) of the Indira Gandhi International Airport in the national capital. Not only pas sengers but airport em ployees say they also struggle to enter Ter minal 3 of the Delhi Airport. The employ ees find it difficult to enter the airport from Steel Gate 11.

The airport has dedi

cated a separate gate for airport staff including ground handling, air craft maintenance engi neers, loaders, airline staff, and security and

airport-related officials.

Recently, upset airport employees wrote to the Airport Administration (DIAL Security), Duty Manager GMR, and

CISF regarding the de lay they face to enter the airport due to limited resources of the staff at steel Gate No 11.

“Entry inside the Airport for our jobs is becoming difficult now as almost more than 40 minutes are required to enter inside the airport premises during our duties which results in our late reporting. Long queue at gate #11 is a concern for us. Because of limited resources and awareness of staff

(workforce employed for construction of air port) social distancing measures are currently on toss at in Gate #11,” the letter of the airport employees read.

The employees are also anxious about meeting reporting time deadlines, as failing to do so could result in de ductions in their sala ries. The airport staff has mentioned the aforesaid in its letter to the top officials of Del hi Airport.

Traffic was heavy on the stretch from Dhaula Kuan to Gurugram and near Satya Niketan in southwest Delhi. A portion of a road caved in near Satya Niketan.

—A senior police officer

A man pulls his bicycle through a waterlogged road amid heavy rainfall in New Delhi on Thursday.

—PHOTOS BY ANI

New Delhi (ANI): A petition has been moved in the Supreme Court against the Delhi HC order rejecting the plea to disqualify Satyendar Jain from the MLA post because of his unsound mind. Petitioner Ashish Kumar Srivastava has filed his plea. The petitioner submitted that the government is clearly violating the provisions of the Constitution of India under Article 191 (1) (b), which clearly states that a ‘Person shall be disqualified for being chosen as, and for being, a member of the Legislative Assembly or Legislative Council of State if he is of unsound mind’.

MIN’S ‘UNSOUND MIND’: PLEA IN SC CHALLENGES HIGH COURT ORDER

Comedian-actor Raju Srivastav was cremated at Delhi’s

‘Will never surrender’ says PFI after NIA-ED raids

New Delhi (PTI): A Delhi court on Wednes day granted bail to Aam Aadmi Party MLA Ama natullah Khan's close aide Hamid Ali Khan, who was arrested after a raid by the Anti-Corrup tion Branch last week.

According to officials, an unlicensed weapon, Rs 12 lakh cash, and some cartridges were found in Ali's purpose,"todytoofquiredandwell-rootedablecaserysheetnesses,thefectedfurtherSeptemberbeensayinggrantedtrateMetropolitanpremises.MagisSnehilSharmarelieftoKhan,theaccusedhasincustodysince16,andnorecoverywaseffromhim.Allthewitnessesincasewerepolicewitandachargeorasupplementachargesheetinthewilltakeconsidertime,thecourtsaid."...Alsoaccusedisinsocietyheisnomorereforthepurposeinvestigationrelatedthiscas.Frthercuswillnotserveanythejudgesaid.

New Delhi (ANI): The Popular Front of India on Thursday, while con demning the raids by the National Investiga tion Agency (NIA) and the Enforcement Direc torate (ED) against its leaders, stated that it will "never surrender" and alleged that the agency's claims are aimed at "creating an atmosphere of terror".

A total of 106 Popu lar Front of India (PFI) cadres were arrested on Thursday in a joint operation conducted by the National Investiga tion Agency, Enforce ment Directorate and state police forces across 11 states in the country's multiple loca tions, according to the sources. Issuing a state ment against it, PFI's National Executive Council (NEC) said, "NEC has condemned

6 months in prison for ex-Fortis promoters

New Delhi (PTI): The Supreme Court on Thursday awarded six months jail term to for mer promoters of For tis Healthcare Ltd, Malvinder Singh and Shivinder Singh , in a case related to the sale of shares of Fortis to Malaysia-based IHH Healthcare.Abench headed by Chief Justice Uday Umesh Lalit also award ed six months jail term to the former promoters of Fortis Healthcare who were earlier held guilty of contempt.

The top court also or dered a forensic audit of the share sale in For tis Healthcare "EverythingLtd. goes back to the executing court," the CJI said.

The former promoters

of Fortis Healthcare Ltd were facing the court battle after a Japanese firm, Daiichi Sankyo, had challenged the For tis-IHH share deal to re cover the Rs 3,600 crore arbitration award that it had won before a Singa pore tribunal against the SinghFortisbrothers.saidin a state ment. “We will go by the directions of the Hon'ble Supreme Court and will be seeking le gal advice regarding our course of action. We remain committed to patient care."

NIA’s baseless claims and sensational ism are solely aimed at creating an at mosphere of terror. Popular Front will never ever surrender on any scary action by a totalitarian regime.

—Official statement, PFI National Executive Council

the national wide raids by the NIA and ED and the unjust arrests and the harassments of its National and state lead ers across India and the witch-hunting against the members, and supporters of the organization.""NIA's baseless claims and sensational ism are solely aimed at creating an atmosphere of terror," it added. It said that the Front will

"never ever surrender" on the action taken by a "totalitarian regime".

"Popular Front will never ever surrender on any scary action by a totalitarian regime using the central agen cies as its puppets and will stand firm on its will for recovering the democratic system and spirit of the con stitution of our belov ed country," the state ment said.

WHY RAIDS AGAINST PFI, ASKS SAMAJWADI PARTY MP

Sambhal (PTI): Samajwadi Party MP Shafiqur Rah man Barq on Thursday questioned multi-agency raids against the Popular Front of India in the country, asking what is their crime and why people associated with it are being arrested. A multiagency operation spearheaded by the National Investigation Agency led to the arrest of 106 activists of the PFI in 11 states.

“Like all other institutions of the country, the PFI is also an institution. This organisation is fighting the problems faced by Muslims of the country. Why are their people being arrested,” Barq asked, interacting with reporters. “What is their crime?” he added. Barq also supported the Congress’ “Bharat Jodo Yatra” and said it is being carried out to unite the country. “It is a good initiative to stop the destruction of the country. All opposition parties should support it,” he said.

Police arrest 2 of international drug cartel, seize heroin, opium

New Delhi (PTI): Del hi Police's Special Cell arrested two key mem bers of an internation al narcotics cartel from Bihar, officials said on Thursday. The accused, who were ar rested from Muzaffar pur, have been identi fied as Abhishek Raja (26) and Nizamuddin (34), they said. The po lice also seized 10 kg heroin and 10 kg opi um worth over Rs 60 crore from them.

The accused and their associates sup plied drugs in DelhiNCR and other states for the last three years.

The recovered heroin and opium was smug gled into India from Myanmar via Ma

Two held for online fraud

18 PFI MEMBERS SENT TO 4-DAY CUSTODY OF NIA

New Delhi (PTI): A Delhi court on Thursday sent 18 activists of the Popular Front of India (PFI), arrested from different parts of the country in a multi-agency operation led by the NIA, to four days' custodial interrogation for allegedly sup porting terror activities.

Special Judge Shailendra Malik passed the or der after the probe agency produced the accused before the court and sought their custody, saying they needed to be quizzed to unearth the larger conspiracy.Duringthe hearing, the NIA told the court that the investigation was at a preliminary stage and further remand might be needed later. It further said that the investigation was sensitive in nature and more people are likely to be identified during the course of the probe. PTI

Senior citizen duped of `11 cr in name of flats, accused held

nipur, the police said.

A Scorpio with se cret cavities to conceal and transport the drugs was also seized.

Deputy Commissioner of Police (Special Cell) Jasmeet Singh said, "A team of the Special Cell was working on information that an in ternational drug cartel was active in Manipur, Assam, Uttar Pradesh, Bihar and Delhi.

"The gang received heroin, which was smuggled from Myan mar, from Manipur. This was supplied to various parts of the country, including Del hi-NCR. It took three months' effort to gath er the information. During this process, of the cartel were identified and their activities kept

New Delhi (PTI): Two men were arrested for their alleged involvement in duping people of lakhs of rupees after sending them messages with fake links that receivedaOnsaidmentattractivepromisedinvestoffers,policeonThursday.February21,complaintwasinwhichthevictimstatedthathereceivedamessageonsocialmediaaboutsome“earnfromhome”opportunityfrom an unknown profile, police said. When the complain ant replied, he got another message in which the person at the other end stated that she was from an e-commerce project and the complainant had to register himself using a link.

New Delhi (PTI): Ni tin Jain, 36, a resident of Rohini in north Delhi, was arrested on charges of duping a senior citizen of Rs 11 crore, police said onAThursday.casewas regis tered by the Econom ic Offences Wing fol lowing a complaint by a Kalkaji resident, who alleged that he had booked various units in the alleged ‘Trinity’ and ‘Ma heswara’ projects, claimed to be launched by Raheja Developers Ltd at Sector-84 in Guru gram, Haryana, through Jain. Jain had claimed to be the authorised channel partner of the al leged company.

The accused in duced the victim on the pretext of provid ing a higher buyback value for his unit in the company’s al leged ‘Sampada’ pro ject. The victim de posited Rs 11.50 crore in Jain’s personal account and that of his company ‘Adi nath Associates’. Later, the alleged de veloper cancelled the victim’s booking. The cheques Jain gave to return the money to the victim were dishonoured on presentation, the po lice

Theadded.accused also provided various let ters from govern ment entities, which were later found to be forgeries, police said.

(Top) Fellow comedians Sunil Pal and Ahsaan Qureshi pay last respects at the funeral. Poets Arun Gemini (L) & Ashok Chakradhar (R) at the funeral at Nigambodh Ghat on Thursday.

Aayushmaan Srivastava, son of Raju Srivastava, performs last rites of his father at Nigambodh Ghat in New Delhi on Thursday. —PHOTOS BY PTI/ANI

n PFI ‘stands firm on will to recover spirit of the Constitution of our country’beloved

PFI’s Delhi unit head Parvez being brought to the office of the ED after his arrest in New Delhi on Thursday. —PHOTOS BY PTI

Family members and relatives of Parvez at his home after his arrest, in New Delhi on Thursday.

Court grants bail to HamidcloseAmanatullah’saideAliKhan

INVESTING IN STOCKS BY PREDICTING

MACRO—ECONOMIC OUTCOMES IS NOTHING BUT FINANCIAL ASTROLOGY’

broader economic outlook can affect share prices inthe short—term (just as they are currently with NASDAQ down around 30%) but in the longer term it is the inherent quality of the business that determines its valuation.

COMEDY RAJU SRIVASTAVA HAS LEAVINGDEPARTEDAVOID

Anyone who tells you where the market is headed in the next year or two is doing nothing but indulging in financial astrology. So, everything else that we usually hyperventilate about (the drama around inflation, the possibility of sustained high interest rates followed by a prolonged recession, the threat of a nuclear war, the constant fluctuation in share prices) is actually a giant distraction to attaining solid long—term financial returns.

Which is why one should bet on company fundamentals, not investor sentiment or macro— economic outcomes

Debates around macroeconom ic issues (interest rates, infla tion, wars, global political risks) are often esoteric in nature that only few inves tors fully grasp or under stand. Even well—known experts and economists will admit that they have had a very shabby record of accu rately predicting macro— economic outcomes. And yet many investors spend enor mous amounts of intellectu al horsepower & financial resources to gauge the state of world affairs. Maybe those who time the market to trade in & out of securities have seen large pay—offs but what the last two and a half years has shown is that the risks that hurt investors are not the ones they imaginatively price in but those that they did not see coming at all.

In an ideal world, an equity investor would spend his en tire being on picking out in dividual businesses and judg ing if they are worthy of in vestments. In reality, most spend far more time rational izing the decline or uptick in share prices of companies based on their assessment of the prevailing macro—eco nomic scenario. Of—course, there is no denying that the

NO TWO TIMING, IT COMPANIES

The key lesson for investors here is to understand that no one is asking them to com pletely ignore the larger eco nomic reality but be broadly aware of it—to the extent it impacts the future prospects of the businesses they own.

Truth be told, companies and businesses are prone to cycles of economic boom and bust, just like it is the funda mental nature of stock prices to be volatile. A few compa nies may benefit out of a tem porary tailwind, something that has no effect on its long— term earning power. On the other hand, some companies may see strong headwinds that have significant no im pact on its long—term pros pects. Most companies tend to be impacted by some change in economic condi tions and it is a) necessary to differentiate between tempo rary and permanent impair ment to earning power; b) accept the cyclical nature of most businesses and c) worry more about the individual business’ ability to adapt to a new economic reality.

A better approach to equi ty investing, therefore, would be to treat individual stocks of companies “family busi nesses” that you would want to own for long periods of

With the cost of liv ing constantly ris ing in sync with the aspiration level of youth, moonlighting is an easy way of making that extra buck. Work from home policy dur ing the Covid-19 pandemic provided young profession als eager to extra money to moonlight.Thepractice adopted by young information technol ogy professionals during the Covid-19 pandemic has been flagged as unfair and unethi cal by technology companies.

A better approach to equity investing, therefore, would be to treat individual stocks of companies businesses”“family that you would want to own for long periods of time. For one, no rational person would set up or run a family business if they a) don’t understand the underlying business; b) do not see potentially great returns going forward; and c) plan to sell out as soon as the going gets tough

time. For one, no rational person would set up or run a family business if they a) don’t understand the under lying business; b) do not see potentially great returns go ing forward; and c) plan to sell out as soon as the going gets tough. Essentially, the characteristics you would look for in a family business are not dissimilar to what you would look for in a pub licly listed company: a busi ness that dominates the in dustry with no or minimal competition, one that sells more products/services at higher prices and lower costs over a period of time and one that intelligently allocates capital to achieve the com pany’s mission or purpose.

Owning stocks of compa nies as different “family busi nesses” is a powerful idea that forces individuals to speculate less on macro trends (short—

Wipro, for one, has fired 300 of its workers who were found moonlighting as they were working for rival companies while working from home. Now that’s unfair and should not have been done, at least not without the company’s permission

Wipro, for one, has fired 300 of its workers who were found moonlighting as they were working for rival com panies while working from home. Now that’s unfair and should not have been done, at least not without the compa ny’sOtherpermission.ITcompanies like In fosys and TCS have similar views on the practice as that of Wipro Chairman Rishad Premji. TCS has called it un ethical and Infosys has also warned its workers in taking up dual jobs either during or post working hours without

term gains or challenges) and to think of themselves as “owners” of businesses. Good businesses don’t just survive periods of economic down turn but in—fact come out stronger on the other side (killing weaker competition in the process). Ultimately, a company’s stock price should reflect the strength of the un derlying business (although one just doesn’t know when). Which is why it is not a sur prise that the highest equity returns come from owning the best businesses in the world—the most dominant, the highest quality companies that are always focused on get ting better at their game.

Equity investing is really that: buying a collection of su perior businesses and con stantly re—evaluating their “superiority”, as if they were your family businesses. Any one who tells you where the market is headed in the next year or two is doing nothing but indulging in financial as trology. So, everything else that we usually hyperventilate about (the drama around infla tion, the possibility of sus tained high interest rates fol lowed by a prolonged reces sion, the threat of a nuclear war, the constant fluctuation in share prices) is actually a giant distraction to attaining solid long—term financial returns. Which is why one should bet on company fundamentals, not investor sentiment or macro— economic outcomes.

THE VIEWS EXPRESSED BY THE AUTHOR ARE PERSONAL

the company’s knowledge. Tech Mahindra is the only company to have adopted a hu mane approach saying that it was open to the practice if it helps augment a worker’s in come. The company did not clarify if it will allow them to work for rivals. Sackings by Wipro show a hardening of stance by companies which spoke of the no two-timing clause in employees’ contracts.

Yet, a handful of employees could have been hard-pressed for money due to a financial crunch. Although the IT com panies are said to be good paymasters, for some employ ees they could still be inade quate because of their finan cial backgrounds. Employees should work for another com pany only after taking their employers into confidence.

Laughter is the best medicine, read a headline in a classy journal popular among the genteel class. Go out in a park and laugh your lungs out, say yoga gurus.

Charlie Chaplin, Robin Wil liams of Mrs Doubtfire fame and Rowan Atkins who makes us laugh as Mr Bean have helped us laugh away our blues like Bol lywood’s Johnny Walker, Johny Lever, Paresh Raval and Boman Irani. Stand-up comedy is a dif ferent genre and in this category

Raju Srivastava carved out a niche for himself in a very short time. Sadly, he departed early leaving us grieving.

Some people believe that those who laugh live longer but why should the life of those who make us laugh be cut short so abruptly to leave us sad?

Raju Srivastava belonged to Kanpur and came from a very humble background. With his sharp observation and comic sense he soon became a star co median. He will be remembered for his creation---Gajodhar.

Train the when he is he will not

Government under the visionary leadership of Hon PM Shri @ narendramodi ji is dedicated to unfolding prosperity in Andhra Pradesh world class infrastructure & the development of above projects would create large employment in the

l Vol 2 l Issue No.25

l RNI TITLE NO. DELENG/2021/19840

Printed and published by Anita Hada Sangwan on behalf of First Express Publishers. Printed at Impressions Printing and Packaging Limited, C-21, 22 Sector-59, Noida-201301. Published at G-20, 3rd Floor, 309, Preet Vihar, New Delhi-110092. Phone 011-49846474.

Editor-In-Chief: Dr Jagdeesh Chandra

Editor: Anita Hada Sangwan responsible for selection of news under the PRB Act

SPIRITUAL SPEAK

India has a long history of conserving one-horn rhinoceros. It’s matter of pride poaching of rhinos in Kaziranga has gone down to the lowest in the last two decades. Govt is committed to conserving this megafaunal species. Kudos to all involved in the effort.

ARIHANT PANAGARIYA

The writer is a Portfolio Manager at Hundred Ten Capital in London

Indian Navy evaluating trial reports of two fighter jets

Aircraft is planned to be acquired under a govt-to-govt deal by Navy for operations

New Delhi (ANI): In the USD 5 billion ten ders to buy 26 combat aircraft, the report of the extensive trials of the French Rafale and American F-18 planes is being evaluated by the Indian Navy head quarters.The aircraft is planned to be acquired under a not,navalcalcrafttosaid.governmentforandwithandfighterteamwas“TheendrabycommissionedcarrierfromNavygovernmentgovernment-to-dealbytheforoperationsitslatestaircraftINSVikrantrecentlyPrimeMinisterNarModiinKochi.extensivetrialheldbyanavalinGoaforboththeaircraftRafaleF-18.Thereportistheheadquartersisbeingeventuatedfinalshortlisting,”sourcesTheevaluationisseewhethertheairhasmetthetechnispecificationsoftherequirementsortheysaid.TheAmericanaircraftarebuiltforcarriersweighingaround

31 PPS officers to be promoted as IPS officers

Ahtesham Siddiqui

Lucknow: In UP, 31 po lice officers of the Pro vincial Police Service (PPS) cadre will soon be come IPS officers. A DPC to make 31 officers of the PPS cadre of the state IPS has been called in Lucknow on October 7.

The PPS officers who will get promoted in clude Amit Mishra, Shravan Kumar Singh, Sarbanand Singh Ya dav, Hafeezur Rahman, Ramesh Prasad Gupta, Keshavchand Goswami, Omvir Singh, Rajesh Kumar Yadav, Babita Sahu, Lal Saheb Yadav, Rajdhari Chaurasia, Vi nod Kumar, Om Prakash Yadav, Mahat ma Prasad, Prabal Pratap Singh, Rajesh Kumar, Dayaram, Girjesh Kumar, Prem Chandra, Bhim Priya Ashok, Sanjay Kumar, Dinesh Kumar Singh, Chandra Prakash Shuk la, Brijesh Kumar Mishra, Ashutosh Shukla and others.

UNEP SIGNS MOU WITH NCC TO CURB PLASTIC POLLUTION

New Delhi: The UN En vironment Programme (UNEP) has signed a Memorandum of Under standing (MoU) with the National Cadet Corps (NCC) to tackle the issue of plastic pollution. The aim is to achieve the universal goal of clean

one lakh tonnes while the French Rafale is made for 60,000 tonnesize carriers. The Navy

Now, Punjab Assembly session on September 27

INDIA ON CUSP OF INFRA REVOLUTION, SAYS LT GEN SINGH

Panaji (ANI): Pointing out that now the Army was also using technologyhigh-energytoconstruct its buildings for operational usage,

wastheArmytheofficerengineeringtopmosttheofIndiansaidcountryonthecusp

water bodies through ‘Puneet Sagar Abhiyan’ and ‘Tide Turners Plastic Challenge programme’, the Ministry of Defence said in a statement.

The MoU was signed between DG NCC Lt Gen Gurbirpal Singh and Resident Representative, UN World Food Pro gramme Bishow Parajuli in the presence of De fence Minister Rajnath Singh, MoS Defence Ajay Bhatt, Defence Secretary Ajay Kumar; other senior officials of Ministry of Defence and representatives of UNEP.

has MiG-29Ks which op erate from the INS Vikramaditya and also don’t have a strong ser

viceability record and their numbers are con sidered to be sufficient only for one carrier.

of an infrastructure revolution in view of the developments in the sector. Speaking at a conclave in Goa, Indian Army’s Engineer in chief Lt Gen Harpal Singh said, “The Military Engineering Services, an infrastructure arm of the Corps of En gineers of Indian Army is taking up nische technolo gies to bring in faster and quality construction all around.” “India’s first 3D Concrete Printed per manent married accom modation for soldiers was constructed by co-opting a start-up by the Military Engineering Service in a matter of weeks,” he said.

Chandigarh (ANI): Punjab Chief Minis ter Bhagwant Mann on Thursday said that it was decided in the cabinet meeting that the Assembly Session will now convene on Tuesday, September 27. In the session, is sues like electricity and stubble burning will be discussed, CM Bhagwant Mann said.

“In the cabinet meeting today, it has been decided to con vene an Assembly ses sion on September 27. Issues like electricity and stubble burning will be discussed,” CM Mann said after chairing a cabinet meeting at the Punjab

Tata group airlines AI, Vistara, AirAsia ink MoU

New Delhi: Tata group airlines – Air India, Ai rAsia India and Vistara (Tata SIA Airlines), on Thursday signed a MoU with the Council of Sci entific and Industrial Research, Indian Insti tute of Petroleum to col laborate and work to gether on the research, development, and de ployment of sustaina ble aviation fuels (SAFs), officials said.

“The MOU outlines the intent of the signa tories to work together

in a variety of other ar eas related to sustaina ble aviation,” an Air

No evidence of Republic TV’s involvement in TRP case: ED

Mumbai (ANI): The Enforcement Directo rate (ED) has said that there is no evidence of involvement of Repub lic TV and R Bharat in the case of manipula tion of Television Rat ing Points (TRP).

The central agency said that its findings were at “variance” with the investigation car ried out by the Mumbai Police. It was alleged in

October 2020 that Arn ab Goswami-owned Re public TV and R Bharat were manipulating the TRP berfiledafterchargesheetingtioncourtchargesheet15,Earliernumbers.onSeptembertheEDhadfiledainaspecialunderthePrevenofMoneyLaunderAct(PMLA).ThewasfiledthecentralagencyanECIRinNovem2020.

India spokesperson said, adding that the fo cus of the MoU is to ex

plore Single Reactor HEFA (fuels) technolo gy for Drop-in liquid

FRESH SNOWFALL

Sustainable Aviation and Automotive Fuel.

This comes two days after civil aviation min ister Jyotiraditya Scin dia stressed on carbon neutrality. The minister also said India will have over 90 carbon- neutral airports by 2024.

SAFs are made from sustainable resources, such as forestry and ag ricultural waste and used cooking oil, and can be blended with fos sil jet fuel to reduce emissions.

11 CONG MLAs SUSPENDED ON LAST DAY OF GUJARAT ASSEMBLY Gandhinagar (Agencies): As many as 11 Con gress MLAs were on Thursday suspended for the day from the Gujarat Assembly after they created a ruckus demanding a debate on caste-based cen sus and OBC reserva tion in local bodies. When the house was discussing the amend ment bill on Gujarat National Law Univer sity, a senior Congress

leader demanded for a debate on OBC reser vation in local bodies.

Speaker Neemaben Acharya turned down the request saying that the party should have moved a request for it earlier.

Secretariat in Chandi garh, day after the previous assembly session (that was scheduled to be held) was cancelled by state governor Banwarilal Purohit.

IPL TO RETURN TO HOME-AWAY FORMAT IN 2023, SAYS BCCI PRESIDENT GANGULY

New Delhi (PTI): The Indian Premier League (IPL) will re turn to its original, pre-COVID-19, home-and-away format from the 2023 season, BCCI President Sourav Ganguly has conveyed to the Board’s affiliated state units. The IPL has been held at only a few venues since the outbreak of COVID-19 in 2020 as the lucrative league unfolded behind close doors across three venues in UAE — Dubai, Sharjah and Abu Dhabi. In 2021 too, the tournament was held across four venues — Delhi, Ahmedabad, Mumbai and Chennai.

10 KILLED, 11 INJURED IN UP IN INCIDENTSRAIN-RELATED

PLANNING FOR FUTURE

Is BJP hoping to win one more LS seat in Punjab?

captain. A BJP leader says that the captain’s case is only about one Lok Sabha seat and even the BJP is working on one Lok Sabha seat for the next election and even Captain will also work on the same.

ing these two seats.

That is, the party is fighting with a target of winning three to four seats in

Lucknow (PTI): At least 10 people were killed, seven of them in Etawah, and 11 injured in incidents of lightning, and wall and house collapses as heavy rains in parts of Uttar Pradesh affected normal life in Firozabad and forced the closure of schools in Aligarh. Apart from Etawah -- where the seven deceased included four children of a family -- deaths have also been reported from Firozabad (2) and Balrampur (1) districts since Wednesday, officials said. According to the India

New Delhi: A law with far-reaching consequences may soon be in place to bring over-the-top (OTT) communication ser vices under a legal frame work. A draft Telecommu nications bill uploaded by the Union government has proposed the introduction of a bill to enable intercep tion of encrypted services like WhatsApp and Signal, the Hindustan Times reported. According to definitions in the bill, tele communication services include service of any description – including broadcasting services, electronic mail, voice mail, voice, video and data communication services, audiotex services, videotex services, fixed and mobile services, Internet and broadband services, satel lite-based communication services.

According to informed sources, the BJP does not expect much from the Captain. Therefore, he is less likely to be given any important re sponsibility in the par ty. BJP has already giv en a big message to the

Sikh voters of the state by including former IPS officer Iqbal Singh Lal

pura as a Sikh face in the Parliamentary Board. Therefore, there

is no need to send any message to the Sikhs through the 80-year-old

It is worth mention ing that the BJP had fought the last election in coordination with the Akali Dal and got two seats. This time the party is trying to win one or two new seats while somehow retain

PreneethandySinghCaptainPunjab.Amarindercancomeininthis.HiswifeKaurisaCongressMPfromPatialaseat.InthenextLokSabhaelections,shecancontestonaBJPticketandthepartycanwinthisseat.Apartfromthis,CaptainhasnomoreuseforBJP.

HP TO CREATE 2,000 DIGITAL CLASSROOMS IN GOVT SCHOOLS ACROSS INDIA

Bengaluru (Agencies): HP India on Thursday said it would enable up to 2,000 digital classrooms under HP Accessible Learning for All (ALFA) initiative in India. These digital class rooms would be set up in government or government-aided schools across 17 States for Class 9 and 12 students.

The initiative was in line with the gov ernment’s National Education Policy (NEP) 2020, said the company in a statement.HP would rope in NGO partners, corporate foundations, and non-governmental organisa tions (NGOs) to implement this project.

(From Left) Siddharth Sharma, Niyant Maru, Campbell Wilson, Sunil Bhaskaran and Dr Anjan Ray signing the MoU on Thursday.

GOVT WANTS TO

CHATS

Representative image of a Rafale Marine aircraft.

Punjab CM Bhagwant Mann announces a special session of the assembly that has now been called on September 27 with a revised list of agendas. —FILE PHOTO

Mahesh Sharma

New Delhi: What is the loss to the Congress or the gain to the BJP if Captain Amarinder Singh, the former Chief Minister of Punjab, joins the saffron party?

Former Punjab CM Amarinder Singh at BJP headquarters after joining the Bharatiya Janata Party, in New Delhi. FILE PHOTO

A view of the vehicles commute as Baralacha pass receives fresh snowfall, in Lahaul-Spiti of Himachal Pradesh. —PHOTO BY ANI

New Delhi: Ola

` tanks 83 paise to close at all-time low of 80.79/$

Mumbai: The rupee plunged by 83 paise — its biggest single-day loss in nearly seven months — to close at an all-time low of 80.79 against the US dollar on Thursday after the US Federal Reserve’s interest rate hike and its hawkish stance weighed on investor sentiments.Forextraders said the US Fed’s rate hike and es calation of geopolitical risk in Ukraine sapped risk

Moreover,appetite. the strength of the American currency in the overseas market, a muted trend in domestic equities, risk-off mood and firm crude oil prices weighed on the rupee.

At the interbank for eign exchange market, the local currency opened at 80.27, then fell further to an all-time intra-day low of 80.95 against the Amer ican currency.

GOLD JUMPS `442; SILVER CLIMBS `558

New Delhi (PTI): Gold price in the national capital rose by `442 to `50,399 per 10 grams on Thursday amid a rise in international pre cious metal prices and sharp rupee depreciation, according to HDFC Securities. In the previous trade, the yellow metal had closed at `49,957 per 10 grams. Silver also climbed by `558 to `58,580 per kilogram from `58,022 per kg in the previous trade. In the interna tional market, gold was trading higher at $1,677 per ounce, while silver was flat at $19.69 per ounce.

SENSEX FALLS FOR 2ND DAY; ENDS 337 POINTS DOWN

Mumbai (PTI): Equity indices fell on Thursday, mirroring weak global market trends following the US Federal Reserve’s interest rate hike and hawkish stance.The 30-share BSE Sensex declined 337.06 points or 0.57% to settle at 59,119.72. During the day, it tanked 624 points or 1.04% to 58,832.78.The NSE Nifty went lower by 88.55 points or 0.50% to end at 17,629.80.Among the 30-share Sensex pack, Power Grid, HDFC Bank, HDFC, Axis Bank, Bajaj Finserv, ICICI Bank and UltraTech Cement were the major laggards.

At WTO meeting, India defends ban on rice, wheat exports

New Delhi (Agencies): India has defended its deci sion to ban export of wheat and rice at a WTO meeting even as some member countries have flagged con cerns over the country’s stand, an official said.

QUESTIONS RAISED

z Senegal, the US & the EU raised questions over this decision, stating it could have adverse implications on global markets

New Delhi: Amid the funding winter, Indian startups The funds raised in 9.7% than that July, the and analyt ics oti Bose, Lead Analyst at GlobalData, said: “Al though the total VC fund ing amount still remains below $1 billion akin to July, August managed to reverse the decline in fun draising, despite a 2.3% fall in deal volume.”

It finally ended at 80.79, down 83 paise over its pre vious close of 79.96. The rupee suffered its biggest single-day fall since Febru ary 24 when it had declined by 99

Thepaise.USFed hiked inter est rates by 75 basis points to 3-3.25%. It was the third

OTHER STORIES

straight 75 basis points hike. Fed Chair Jerome Powell reiterated the cen tral bank’s commitment to taming

Focusinflation.willbeon Bank of Japan (BoJ) and Bank of England (BoE) monetary policies next, forex traders said.Meanwhile, the dollar index, which gauges the

greenback’s strength against a basket of six cur rencies, advanced 0.38 per cent to Besides110.06.the hawkish US Fed stance, the US Dollar extended gains against its major crosses after Rus sian President Vladimir Putin announced partial military mobilisation.

“An aggressive Fed

Another hefty cheque to BSNL to cut debt load

Chair Jerome Powell and Russian President Vladimir Putin’s escala tion of geopolitical risk in Ukraine turned on the green light for King Dollar against most currencies,” said Dilip Parmar, Re search Analyst, HDFC Se curities. Rupee along with other Asian peers tumbled to a record low.

At a meeting last week in Geneva, Senegal, the US and the European Union raised questions over this decision, stating it could have adverse implications on global tatedsecurityonmonthsgrain’sfeed,whichonIndiaDefendingmarkets.itsdecision,clarifiedthatthebanexportofbrokenrice,isusedinpoultryfollowsariseintheexportsinrecentwhichputpressurethedomesticmarket.Inthecaseofwheat,foodconcernsnecessiexportcurbs.“Indiahasalsostated

RBI cancels licence of Laxmi Co-operative Bank

New York: Prime Minister Narendra Modi has set a very ambitious desire to get the India-UK Free Trade Agreement signed by Diwali and his new British counterpart Liz Truss wants her administration to “match the pace and ambition” of the Indian leader, UK Foreign Secretary James Cleverly has said. Cleverly also said that the bilateral relationship between India and UK is longstanding and wide-ranging, which is both a “huge plus” but it also means that “quite understandably there is a desire to have a very, very wide-ranging, meaningful free trade agreement.” —PTI

Guwahati: The Indrad hanush Gas Grid Limited (IGGL), joint venture of five oil and gas public sec tor undertakings, has achieved a physical pro gress of 42.94% and a capital expenditure of `1556.46 crore for the 2021-22 financial year, ac cording to a company re lease

Chairman Atindra Roy choudhury said this while addressing the fourth an nual general company achieved a capi tal expenditure of `1556.46 crore and physi cal progress of 42.94 per cent in the financial year 2021-22”, he

Kolkata: Loan disbursals by microfinance institu tions during the first quar ter of 2022-23 to `45,830 as com pared to `25,503 crore in the same period last fis cal, a report by MFIN said. a 1st

SPICEJET HIKES PILOTS

SALARY BY 20% AFTER GETTING ECLGS FUNDS

Mumbai: SpiceJet has hiked salary of its captains and senior first officers by around 20% from October as it gets the first tranche of funds under the govern ment’s credit guarantee scheme. The carrier is also expected to deposit TDS of all employees in next two to three weeks, as per the communication sent to the airline pilots. The communica tion to the airline pilots came on the day it sent 80 of its cockpit crew on Leave Without Pay for three months.

—PTI

FUTURE ENTERPRISES

GETS 3 MONTHS EXTN FOR HOLDING AGM

New Delhi: Future Enterprises has received a three-month extension for holding its AGM, a Thefirmdebt-riddenfilingregulatorybythesaid.Registrar

of Companies, Mumbai has accorded its approval to the company granting an extension for three months for holding the AGM of the company before December 31, 2022. “Accord ingly, the aforesaid AGM of the Company would be held within the extended timeline,” said FEL in late night filing.

—PTI

New Delhi (Agencies): The government has given a ` 19,000-crore sovereign guarantee to Bharat San char Nigam Ltd (BSNL), which will allow the ailing state-run telco to restruc ture its debt and that of state-run Mahanagar Tele phone Nigam Ltd (MTNL), officials said.

Both firms have a com bined debt of around `60K crore, of which ` 33,000 crore is on the books of BSNL. As per the officials, another similar amount of bank guarantee will be given to the firm in the next financial year start ing, so that the debt burden can be reduced further.

Mumbai (PTI): The Re serve Bank of India on Thursday said it has can celled the licence of Solapur (Maharashtra) based The Laxmi Co-opera tive Bank Limited as the lender does not have ade quate capital and earning prospects.“Thebank does not have adequate capital and earn ing prospects,” the RBI said while announcing that The Laxmi Co-opera tive Bank ceases to carry on banking business, with effect from the close of business on Thursday (September 22, 2022).

As per the statement, the co-operative bank has failed to comply with the requirements the Banking Regulation Act, 1949 and its continuance is prejudi cial to the interests of its depositors.“Thebank with its pre

DEPOSITORS TO GET ` 5 LAKH

z On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to Rs 5 lakh from DICGC. 99 per cent of depositors are entitled to receive full amount of their deposits from the DICGC, the RBI said in a statement

sent financial position would be unable to pay its present depositors in full,” the RBI said.

The bank is now prohib ited from conducting the ‘business of banking’.

z India clarified that the ban on export of broken rice follows a rise in the grain’s exports in recent months which put pressure on the domestic market

that the measures are tem porary in nature and under continuous monitoring,” the official said.

Senegal, a major import er of India’s broken rice and other rice products, urged India to keep trade open in these difficult times to ensure food suffi ciency, the official added.

Adani pactno-poachingmakeswithRIL

Mumbai (Agencies): The Adani Group, led by the world’s third richest man Gautam Adani, has entered into a no-poaching agree ment with Mukesh Amba ni-led Reliance Industries, such that both groups will be restricted from hiring talent from each other. The agreement has come into effect from May this year and will be applicable to all their

Whatbusinesses.makesthis pact in teresting is that it is be tween two of India’s larg est conglomerates and of late both have entered sec tors where the other has a big play. Last year, Adani Group announced its entry into the petrochemical space with Adani Petro chemicals Limited, which is where Reliance has a large presence. The other area where their paths cross is the high-speed data services.

Over ` 58,000 crore lost due to illicit trade

GLOBAL LEADERS

z China’s publicly listed food platform Meituan at the top of the list, followed by the UK’s Deliveroo, and the US’ Uber Eats

z Ele.me, DoorDash, Just Eat Takeaway/Grubhub found themselves in 4th to 6th spot

New Delhi (PTI): The ex chequer is estimated to have lost ` 58,521 crore in taxes in 2019-20 due to il licit trade in goods in 5 key industries, including FMCG, mobile phone, to bacco products and alco hol, a Ficci report said.

The uni corns. According to the re search firm, the food deliv

ery Res taurants/retailers the

them to customers within a prescribed timeframe.

Further, Ele.me, Door Dash, Just Eat Takeaway/ Grubhub, Delivery Hero, and iFood found them selves in the 4th to 8th spot.

The size of illicit mar kets in these industries at a little over `2.60 lakh crore for the year 2019-20, with the FMCG industry ac counting for 75% of the to tal illicit value of goods in five key industries.

The two highly regulated and taxed industries, to

bacco products and alco holic beverages, account for nearly 49% of the over all tax loss to the govern ment due to illicit markets in these five key industries. The max number of jobs (7.94 lakh) were lost due to illicit trade in the FMCG packaged foods industry.

‘WANT TO MAKE SURE INDIA-UK FTA IS FIRST STEP IN CONTINUALLY EVOLVING TRADE, ECO P’SHIP’

Rohingyas’ link with Pak terror groups a serious threat: Centre

New Delhi(ANI): The Central Government has informed the Delhi High Court that there is contemporaneous data from security agencies’ inputs and other au thentic material indi cating linkages of some of the unauthorised Ro hingya migrants with Pakistan-based terror organisations and simi lar organisations oper ating in other countries.

Over and above the said serious security concerns already in ex istence, the more dis turbing part is that there is an organised influx of illegal migrants from Myanmar through agents and touts facili tating illegal Rohingya migrants into India ficegionalbyaffidavitstatedIndiaedcantRohingyasTheernmentvitcurity,country’souslytaamora(West(WestBenapole-HaridaspurviaBengal),HilliBengal)andSon(Tripura),KolkaandGuwahati.ThissituationisseriharmingthenationalsestatedtheaffidafiledbyCentreGovinDelhiHC.illegalinfluxofinsignifinumbershasstarttotheterritoryofsince2012-2013,theaffidavit.ThehasbeenfiledtheForeignersReRegistrationOf(FRRO).

The disturbing part is there’s an organised influx of illegal migrants from Myanmar via agents, says govt

This altering demography is harming the country’s security, and rights of its citizens: Centre to HC

IN A FIRST OF ITS KIND

UP Assembly reserves day’s session for women MLAs; Adityanath lauds initiative

First India Bureau

Lucknow: The Uttar Pradesh Legislative As sembly on Thursday set aside the entire day for women legislators to speak about women’s is sues in the House.

Uttar Pradesh CM Yogi Adityanath dedi cated this special ses sion of the Assembly to women members, stressing that their sug gestions would help the government take con crete steps.

z Due to an already existing large influx of illegal immigrants from the governmentownrightseffectacomplicationsisahasofgraphiccountries,neighbouringthedemoprofileofsometheborderingstatesalreadyundergoneseriouschangewhichcausingfar-reachingandhasdirectdetrimentalonbasichumanofthenation’scitizens,thecentralsaid.

GEOPOLITICAL IMPACT IN REGION

z So far as India is concerned, national security considerations rank the highest on country’s list of priorities given a geopolitical influence in the region and its vulnerability to mass border infiltrations due to the porous nature of its border which our country shares with many countries, the affidavit stated.

z The affidavit has been filed by FRRO in an ongoing matter where a petitioner (a Myanmarese woman) Senoara Begum and her 3 minor children challenging the Ministry of Home Affairs and FRRO’s decision to refuse their exit permit applications to leave India for her resettlement in the US. FRRO submitted that the Petitioner had committed a gross violation of Indian laws, visa rules and statutory conditions.

Pawar, Nitish among Oppn leaders to attend INLD rally on Sept 25

New Delhi (PTI): A bevy of opposition lead ers, including NCP’s Sharad Pawar, Bihar Chief Minister and JD(U) leader Nitish Ku mar, Shiv Sena’s Ud dhav Thackeray and DMK’s Kanimozhi, will be attending the Indian National Lok Dal’s ral ly in Fatehabad, Hary ana on September 25.

JD(U) spokesperson K C Tyagi said RJD leader and Bihar Depu ty CM Tejashwi Yadav, National Conference leader Farooq Abdul lah, CPI(M)’s Sitaram Yechury and BJP lead

er Birender Singh have also given their consent to attend the rally to mark the birth anniver sary of former deputy prime minister and INLD founder Devi Lal. Lok Sabha MP and Rashtriya Loktantrik Party’s Hanuman Beni wal, a former BJP ally from Rajasthan, will

Lekhi unveils vibrant ‘Wall of Delhi’ mural

also attend the rally, he said. “It will be a his toric meeting that will mark the consolidation of like-minded forces against the ruling BJP in the run up to the 2024 LS polls,” Tyagi said.

INLD leader and for mer Haryana chief minister Om Prakash Chautala has also sent invitations to several other regional bigwigs, including West Bengal CM Mamata Banerjee, Telangana CM K Chan drashekar Rao and TDP’s Chandrababu Naidu, for attending the public meeting.

z FRRO stated that the petitioner has not produced any docu ment to show that she is a Myanmar national. That, not even a letter from the Embassy of Myanmar validating her nationality claim is available. It is submit ted that till then her nationality is doubtful. That further her ar rival in India is also not traced in immigration records.

It was stated that women MLAs are hesi tant to speak in the male-dominated Assem bly and this issue was raised by them during their interaction with the Speaker recently as part of an initiative to “develop a better rap port” with the MLAs and for “better function ing” of the House.

The CM initiated the day-long session during which only women members would speak in the House and said this session at the coun try’s largest legislature would set an example.

“Today, the largest legislature of the coun try is moving towards creating a new history. After 75 years of Inde pendence, the voices of

TO CURB PLASTIC POLLUTION

The session would be an example for the country on what women members want to say. Any positive suggestions from them regarding the present, future and self-reli ance of the state would help the govt take steps in that direction.

half the population will reach 25 crore people of the state through this House,” he said.

“At the same time, they will get an oppor tunity to put forward the problems and achievements of the state and other impor tant issues in this House. In fact, this work should have been done long ago,” Adity anath said.

The CM also recited a few lines of Maharishi Ved Vyas dedicated to women power. “This is not the first time that

—Yogi Adityanath, CM Uttar Pradesh

an effort is being made to give equal status to women,” he said.

In a lighter vein, he told the male members of the House, “I will say to the male members that on normal days, women’s voices here get buried by your noise. If you come to know of any of your mistakes, apologise by holding both ears in your house and help bring

LG Saxena confers degrees on MBBS, PG students of MAMC

New Delhi (PTI): Delhi Lieutenant Governor V K Saxena on Thursday said encouraging re search should be an im portant mandate for any premium medical institution along with teaching and training.

During his address at the Maulana Azad Medical College (MAMC) where he handed over degrees to MBBS and postgradu ate students, he under lined the importance of basic research for human development.

Gyanvapi case: Mosque committee told to file objections to carbon-dating of ‘Shivling’

New Delhi (PTI): Un ion Minister of State for Culture Meenakshi Le khi unveiled a vibrant mural in south Delhi depicting 75 major his torical sites and famous places of the city, as part of Azadi ka Amrit Mahotsav celebrations.

Lekhi shared a video on Twitter of the expan

sive mural done on a wall in the South Exten sion area of the city.

Delhi Metro trains, DTC buses, & auto-rickshaws, all considered the life line of Delhi, have also been depicted in vibrant colours. It was done by the Municipal Corpora tion in association with Street Art India.

Varanasi (PTI): The Varanasi district court asked the Gyanvapi mosque management on Thursday to file its objections to a plea for carbon-dating of a “Shivling” claimed to have been found inside the shrine complex by the next date of hearing in the Judgematter.AK

Vishesh fixed September 29 as the next date of hearing in the matter involving the Gyanvapi mosqueShringar Gauri dis pute. The court re sumed hearing in the matter on Thursday, after rejecting a plea questioning the main

tainability of the peti tion on September 12.

The petition seeks the court’s permission for worshipping the idols of the Hindu dei ties located on an outer

wall of the mosque on a daily basis. Appear ing on behalf of the plaintiff women, advo cate Vishnu Shankar Jain placed the de mand for carbon-dat

ing of the “Shivling” before the court. The judge asked the mosque management to file its objections to the plea and fixed September 29 as the next date of hearing in the matter, district government advocate Rana Sanjeev Singh said.

The court did not en tertain the mosque management’s plea for fixing the next hearing eight weeks after the last date of hearing in the matter on Septem ber 12, he added. A total of 15 people had sub mitted applications in the court to become parties to the dispute.

“In doing so, pure re search, bereft of profes sional and uisite,”mostconsiderations,commercialistheessentialprereqheadded.Assertingtheimportanceofresearchduringthetrainingprocess,Saxenasaid,“Itshouldbethemostimportantbenchmarkofexcellenceofanacademicinstitution.Inadditiontoteachingandtraining,encouragingresearch

should be an important mandate for any premi um medical institution.” Saxena also stressed on the fact that the expe rience during the span demic has highlighted the importance of the role of a medical institu tion in imparting quali ty education to its stu dents like never before.

A total of 356 postgraduate students of 2020 and 2021 batches were awarded degrees.

A file photo of refugees standing in a queue waiting for aid in a camp.

Samajwadi Party’s women MLAs arrive to attend the Monsoon Session of UP Assembly, on the day reserved for women MLAs to raise their issues, at Vidhan Bhavan in Lucknow on Thursday.

An MoU was signed between DG National Cadet Corps (NCC) Lt Gen Gurbirpal Singh and Resident Representative, UN World Food Programme, Bishow Parajuli in presence of Defence Minister Rajnath Singh with an aim to clean water bodies through ‘Puneet Sagar Abhiyan’ and ‘Tide Turners Plastic Challenge program’, at South Block, in New Delhi on Thursday.

ANIBY—PHOTO

Nitish Kumar (R) Sharad Pawar

Delhi Lieutenant Governor Saxena

Advocate Vishnu Jain, appearing for the Hindu side, interacts with the media persons after a hearing of the Gyanvapi Masjid-Shringar Gauri Temple case at Varanasi District Court, Thursday.

PTIBY—PHOTO

PTIBY—PHOTO

riches, has cool properties like grey but is more fun, lively, and playful.

MThe metallic silver is as sociated with meanings industrial, sleek, hightech, and modern, as well as ornate, glamorous, graceful, sophisticated, and elegant. A colour that resembles polished metal is said to be metallic. Its metallic shine is the char acteristic visual quality of metals. Since the glossy look is caused by the mate rial’s brightness shifting with the material’s sur face angle to the light source, this cannot be rep licated by a straightfor ward solid colour. Addi tionally, there is no way to display bright or metallic colours on a computer other than by using ren dering software that mim ics the reflection of light off of a shiny surface. As a result, metallic paint that glitters like genuine metal is typically used in art and heraldry. With the spring/sum

mer collection, metallics experienced a comeback, continuing through the fall/winter collection. Peo ple opted for metallic col ours to appear brilliant and exceptional. The new trend was embraced by well-known fashion de signers like Tom Ford, Giorgio Armani, Marc Jacobs, Balmain, Versace, Gucci, Lanvin, and others. Early in 2014, many Holly wood celebrities opted for metallic-colored gowns to wear on the red carpet as silver and gold became the newMetallicblack. hues can be used in a variety of ways beyond those that closely resemble real metals.

You may confidently trust this stylish style, which suits people of all ages and skin tones at the finest. Accessorizing with metallic is a great method to always look stylish and rock-ready. With this look, you may match up any way you like and never go overboard.

When worn with your everyday attire, the Shiny Metallic looks incredibly spectacular. A piece of metallic will instantly improve your appearance, regardless of whether you are wearing a boring shirt or faded trousers, so, let’s explore the magic of the metallic world with City First

THE CREST

Exquisite & Luxury Living

City First

The Crest is an ultra-luxu ry project of FS Realty located at a premium lo cation of Airport En clave. The project offers a great choice of 3, 4 and 5 BH luxury residences.

The Crest is a 14-storeyed devel opment with 152 stunning apart ments designed by experienced industry professionals. The Crest is one such project in Jaipur lux ury real estate that sets a new standard of class and modern lifestyle. Whether it is about space, comfort or unmatched con struction, the Crest has a wonder ful confluence of everything.

The Crest has special care of the amenities, hence every facil ity is available here which not only makes life easy but also gives the residents the flavour of a premium living. The project includes a well-maintained li brary, and 25-meter lap pool. Rooftop infinity swimming pool, indoor-outdoor play area, ban quet hall, F&B outlets & cafe, wellness centre, yoga deck, squash court, table tennis, bad minton court, paramount.lifeThestate-of-the-artaremove-inquality.jectdentfortofferswellJaipurdise,TradecialHCC,Clarks;Blu,Hotelsthealsohappiestawhichtheningsigningwholewhicharetheatresteam/jacuzzi/sauna,gymnasium,goldclassandseniorcitizensTheremanyamenitieslikealoungetakeittoitsclass.Offersanewlevelofprojectdeinlandscapingandplanaswell.TheCrest’slocationisoneofprimeaddressesinJaipurnotonlygivesitsresidentsgreatopportunitytoliveinthespaceofthecitybutgiveseasyconnectivitytoallimportantplacesinthecity.likeTheCrestRadissonJaipurMarriott,TheLalit,HospitalslikeFortis,EJaipuria,Cocoon;CommerdestinationslikeWorldPark,EntertainmentParaGenpactandfacilitieslikeInternationalAirportareconnectedtotheproject.EveryapartmentatTheCrestafinebalanceofart,comandclass.AuniqueprececanalsobeseenintheproindesignandconstructionTheCrestisaready-to-projectwherefamiliesalreadylivingandenjoyingalifestyle.Inshort,Crestisthebeginningofathatisbestinitselfbutalso

City First brings to you some more glimpses from Shikhar Samman - Pride of Gujarat”, an award ceremony organised by First India and Bharat 24 on Monday at GIFT City Club, Gandhinagar, Gujarat to honour Gujarati and Marwari with “Shikar Samman”

Dr Jagdeesh Chandra with (L-R) Ajay Kumar and Shaan with others

Dr Jagdeesh Chandra greets Gujarat CM Bhupendra Bhai Patel. Also seen are Harsh Bhai Sanghavi, Ajay Kumar, Manoj Jagyasi and RS Sodhi

Dr Jagdeesh Chandra greets Harsh Bhai Sanghavi. Also seen are CM Bhupendra Bhai Patel, Ajay Kumar and Manoj Jagyasi

CM Bhupendra Bhai Patel and Dr Jagdeesh Chandra felicitate Meet J Desai. Also seen are Harsh Bhai Sanghavi and Ajay Kumar

CM Bhupendra Bhai Patel and Dr Jagdeesh Chandra felicitate Dr Ajay Hardiya. Also seen are Harsh Bhai Sanghavi and Ajay Kumar

CM Bhupendra Bhai Patel greeted by Vishaal Mathur. Also seen are Dr Jagdeesh Chandra and Manoj Jagyasi

CM Bhupendra Bhai Patel, Harsh Bhai Sanghavi and Dr Jagdeesh Chandra felicitate Dr Kaushal Patel. Also seen is Ajay Kumar

CM Bhupendra Bhai Patel, Harsh Bhai Sanghavi and Dr Jagdeesh Chandra felicitate Yogesh Poojara. Also seen are Ajay Kumar and Manoj Jagyasi

CM Bhupendra Bhai Patel, Harsh Bhai Sanghavi and Dr Jagdeesh Chandra felicitate Sapan Shah. Also seen are Ajay Kumar, Manoj Jagyasi and RS Sodhi

CM Bhupendra Bhai Patel, Harsh Bhai Sanghavi and Dr Jagdeesh Chandra felicitate Sajid Malek. Also seen are Ajay Kumar and Kameshwar Singh

CM Bhupendra Bhai Patel, Harsh Bhai Sanghavi and Dr Jagdeesh Chandra felicitate Nehha Kandhari. Also seen is Ajay Kumar

CM Bhupendra Bhai Patel, Harsh Bhai Sanghavi and Dr Jagdeesh Chandra felicitate Manish Desai, Harikrishna Pillai, Alex Lukcose. Also seen are Jayan C Nair, Benny Varghese and Ajay Kumar

CM Bhupendra Bhai Patel, Harsh Bhai Sanghavi and Dr Jagdeesh Chandra felicitate Manish Shah and Ajay Kumar

Dr Jagdeesh Chandra with (L-R) Ajay Kumar, Ashok Raj Singh and Manoj Jagyasi

Dr Jagdeesh Chandra in conversation Ajay Kumar. As Marilyn Gore looks on

CM Bhupendra Bhai Patel and Dr Jagdeesh Chandra felicitate N K Patel. Also seen is Harsh Bhai Sanghavi

Jignesh Gandhi greeted by Dr Jagdeesh Chandra at Ahmedabad Airport

CM Bhupendra Bhai Patel, Harsh Bhai Sanghavi and Dr Jagdeesh Chandra, Ajay Kumar, Mahesh Sharma, Vyomesh Parekh, Shishir Awasthi, Shweta Mishra Awasthi, Manish Desai, Shikha Thakur, Jinendra S Shekhawat, Sandeep Mishra and Dilip Solanki with others

FROM RUNWAY TO RAMP

Tell us some thing yourself.about

My name is Amiksha De wan and I am from Panchkula, Hary ana. Currently, I am working as a commer cial pilot in a Cargo Airline in New Delhi.

Modelling has been my hobby and I have worked as a model for various jewellery brands, makeup art ists, designers photographers.and

How did your journey begin?

I always wished to do something different and also loved to travel so I decided to go for the job of a pilot. How ever, due to the stall in the aviation sector caused by Corona, I got a chance to pursue my hobby.

What were some of the battles you fought and are still fighting

BABY GETS NEW LEASE OF LIFE

CITY DFIRST

in your journey?

I learnt that one should exercise caution be fore trusting anyone in the fashion world. However, I have been fortunate for I met some wonder ful people on my journey. Covid im pacted the Aviation industry adversely and everything came to a halt. However, the future seems to be en couraging and hope we get to return to the skies soon.

Talk to us about your achievements.

I got a chance to work with some famous makeup artists and brands in both Bangalore as well as Delhi. I represented my country at Inter national

CITY AFIRST

n art exhibition was organ ised recently by Monica Jain, the curator cum director, at Art Centrix Space in Delhi. Jain knows how the art would fit into a particular space thereby giving her a unique advantage in both residential as well as public art projects.Connection and trust are of para mount importance to her. Jain said, "I believe art reveals the soul that forges beautiful human relation

octors at Fortis Hospital, treatedsuccessfullyNoidaaone-dayold newborn recently who was suffering from a rare condition of brain fluid-filled swol len lump on the neck (cervical meningomye locele). The lump had a high risk of rupture, if not operated on imme diately. A team of doctors led by Dr Rahul Gupta, direc tor of

atingrisksurgeryficultandisNoidalaterpitalbabyneckswollenbornoperatedNeurosurgeryonthenewandremovedthelesionfromtheinthreehours.ThewasbornatahosinGhaziabadandshiftedtoFortisonthesameday.DrGuptasaid,“Thisaveryrareconditionitisalsoverydiftoperformtheowingtothefactorswhileoperonaone-day-old

newborn. We took the help of Dr Varun Jain, HOD, Neuro Anaesthe sia, Fortis Hospital Noida, who inserted an intravenous can nula and conducted the MRI under seda tion. The baby was shifted to Neonatal ICU for post-operative care. He was moving all four limbs and didn't have any neuro logical symptoms. His condition im proved over the next four days and he was fit for dis charge. We did a fol low-up thorough ex amination after a week in the OPD and the baby is completely healthyMohitnow."Singh, Zonal Director at Fortis Hos pital, Noida said, “The team executed the sur gery with great preci sion, care and a multidisciplinary approach with the anaesthesia team.”

ships. Good human relationships have been my first principle. All my conversations with my artists and curators only happen if we connect and engage at the same level."

The essence of the gallery is re flected in the way she engages with art, with people and with the way she explores the world. The seeking spir it explores ideas as diverse as math ematics, quantum physics, culture and mythology through the shows she curates to make every exhibition and experience at Art Centrix Space, extraordinary.

Ashwini Vaishnaw, minister for Railways and Communications, was greeted by Purushottam Vaishnava, CEO at Zee Hindustan, in Delhi on Wednesday.

Amiksha Dewan

Dr Shanu Sharma, Parents with the baby, Dr Rahul Gupta, Dr Sanjeev Cheetri and Dr Varun Jain

Vani Bajaj and Priya

Sheeba Sabharwal

Radhika

Puneet and Shruti Mangla

Monica Jain

Artworks

Khwaish stood third in the 50-metre Air Rifle shooting category in the 7-day 6th East Zone Shooting Championship 2022, organised by The Asansol Rifle Club under the auspices of The West Bengal Rifle Association, which started on September 18 in West Bengal. She has been selected for upcoming national competitions for winning four medals i.e. Gold, Silver and Bronze respectively. She is also a part of the Indian team’s National Youth Squad in 10-metre to Air Rifle category. She even attended the Indian Youth Camp in Delhi recently.

The birthday of BCCI secretary Jay Shah was on Thursday, September 22. Wishes poured in from renowned cricketers, friends and family from across the spectrum throughout the day.

Khwaish with her father Dinesh (L) and coach Monojit Karmakar

Shatrughan Sinha and Khwaish