Citizens' Issues
Angry Sushma asks Amazon to withdraw Tricolour themed doormats
External Affairs Minister Sushma Swaraj on Wednesday said Amazon must tender an unconditional apology and withdraw all products insulting the Tricolour, otherwise no Amazon official will get an Indian visa.
 
"Amazon must tender unconditional apology. They must withdraw all products insulting our national flag immediately," the External Affairs Minister said in a tweet.
 
"If this is not done forthwith, we will not grant Indian Visa to any Amazon official. We will also rescind the Visas issued earlier," she said.
 
Doormats featuring the Indian flag were made available on Amazon Canada site by two vendors -- Mayers Flag Doormats and XLYL.
 
An image of the products was tweeted to the Minister, after which she asked the Indian High Commission in Canada to raise the issue with Amazon.
 
"Indian High Commission in Canada: This is unacceptable. Please take this up with Amazon at the highest level," the Minister tweeted.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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SC seeks Mallya's response on banks plea on transfer of $40 mn to his children
The Supreme Court on Wednesday asked beleaguered liquor baron Vijay Mallya to respond to the allegation by a consortium of banks led by the SBI that he had transferred $40 million to his children in violation of the orders by the Debt Recovery Tribunal and the Karnataka High Court.
 
The bench of Justice Kurian Joseph and Justice A.M.Khanwilkar sought response from Mallya after senior counsel Shyam Divan told the court of the development.
 
Divan told the court that Mallya has to pay Rs 9,000 crore to the consortium of 13 banks, led by the State Bank of India, that were loaned to his now defunct Kingfisher Airlines and instead of repaying the money, Mallya transferred it to his children.
 
Mallya had received $40 million as part of a $75 million settlement with Diageo to step down as Chairman of the Diageo-controlled United Spirits. 
 
Divan argued that $40 million should have come to banks.
 
Asking Mallya to file a response, the court fixed the next hearing on February 2.
 
In the course of the last hearings of the matter on October 25, the top court had lashed out on Mallya for failing to make full disclosure of his assets including the details of the $40 million he got in February 2016 from British liquor major Diageo.
 
Observing that "We are not happy the way disclosure was made," the court had said it was "prima facie of the view that Vijay Mallya has not made proper disclosure in terms of the order of April 7, 2016".
 
Besides SBI, other banks on the consortium are the State Bank of Baroda, State Bank of Mysore, Axis Bank, Corporation Bank, Federal Bank, Indian Overseas Bank, Jammu and Kashmir Bank, IDBI Bank, Punjab National Bank, Punjab and Sind Bank, UCO Bank and United Bank of India.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Bulls back in saddle - Wednesday closing report
Positive global cues, coupled with healthy third quarter (Q3) results pushed the Indian equities markets higher on Wednesday. Besides, higher global crude oil prices and anticipation of sops to be announced during the Union Budget enhanced investors' risk-taking appetite. Healthy buying was witnessed in banking, metal and capital goods stocks. The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 92.05 points or 1.11 per cent to 8,380.65 points. The Sensex touched a high of 27,174.87 points and a low of 26,978.44 points during the intra-day trade.
 
The trends of the major indices in the course of Wednesday’s trading are given in the table below:
 
 
The BSE market breadth was tilted in favour of the bulls - with 1,726 advances and 1,079 declines. On Tuesday, the Indian equities markets surged on the back of expectations on more spending support from the upcoming Union Budget and a strengthened rupee. 
 
In the broader market, BSE Midcap index (up 1.4%) outperformed the headline indices. BSE Smallcap index gained 0.9%.
 
Metal index rose on account of rise in international coking coal prices and China’s expected cut down of steel output in the next fiscal. Tata Steel sizzled as reports on Chinese steel companies reducing its steep output surfaced in markets in the early hours of the trading session. BSE Metal settled the day 4.4% higher, led by gains in Jindal Steel (up 9.2%), Hindalco (up 6.4%), SAIL (up 6.3%), Nalco (up 6%), and Coal India (up 5.6%).
 
IndusInd Bank rallied more than 6%. Lupin shares gained more than 2% on account of approval from US Food and Drug Administration for Desoximetasone cream that is used for relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses.
 
Investors await the key quarterly corporate results from software services firm TCS and Infosys. The IT giants will report their December quarter earnings on Thursday and Friday, respectively. Stocks of both firms ended flat today. 
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The Asian markets was trading on a two-month high as investors were on the edge watching for President-elect Donald Trump's news conference later in the day for any clues to his policies on tax, fiscal spending, international trade and currencies.
 
The closing values of the major Asian indices are given in the table below:
 
 
 

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