Citizens' Issues
'Peepli Live' co-director gets 7 years jail for rape
A court on Thursday sentenced Mahmood Farooqui, the co-director of acclaimed 2010 Hindi film "Peepli Live", to seven years jail after finding him guilty of raping an American woman.
 
Additional Sessions Judge Sanjiv Jain also imposed a fine of Rs 50,000 on Farooqui, who was convicted on July 30 of raping a 35-year-old woman from Columbia University who was in India for research on her doctoral thesis.
 
The woman, who moved to Delhi in June 2014, was looking for contacts for her work in Gorakhpur and came in contact with Farooqui through a common friend.
 
The incident occurred on March 28, 2015 when Farooqui invited her for dinner at his house.
 
According to the police chargesheet, the woman, who reached his house at 9 p.m., found Farooqui was very intoxicated, and he asked her to go to the other room which was his office.
 
After 20 minutes, she left the office room to smoke in the porch when he told her to come in and sit down, it said. After talking with her for a while, he suddenly kissed her and forced himself on her, the prosecution said, adding that the woman was scared after the incident.
 
During the trial, the American researcher stood by her complaint and alleged that Farooqui had raped her, while he denied the allegations, and claimed he was falsely implicated.
 
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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Indian passenger carriers cancel flights to Dubai
Some of the major Indian passenger carriers on Thursday cancelled their scheduled operations to Dubai due to the unavailability of runway at the Dubai International Airport.
 
The announcements by the Indian carriers came a day after an Emirates flight from Thiruvananthapuram to Dubai caught fire after it crash-landed at Dubai airport.
 
"Dubai airport has announced limited operations up to August 5, 2016. As a result, for August 4, 2016, Jet Airways has cancelled four flights from India to Dubai along with their corresponding return flights," a Jet Airways spokesperson said in a statement.
 
"In addition, Jet Airways will re-route two Dubai-bound flights to Sharjah and is awaiting slot approval from Sharjah Airport to re-route four additional flights." 
 
Budget passenger carrier SpiceJet, too, cancelled all its flights to Dubai which were to be operated on Thursday.
 
"In the wake of the Emirates aircraft crash-landing at Dubai airport yesterday and in accordance with the instructions from the Dubai Airport Authorities, all our flights to and from Dubai scheduled for today have been cancelled," SpiceJet said in a statement.
 
"Post the runway closure at Dubai airport yesterday, our yesterday's flights to the city had been diverted to Al Maktoum International Airport, Ras Al Khaimah International Airport and Sharjah International Airport."
 
The budget carrier further said that it had arranged alternate mode of travel for passengers of the diverted flights to reach Dubai city. 
 
Another low cost carrier (LCC) IndiGo also cancelled its flights to Dubai for August 4, due to the unavailability of runway at the Dubai airport. 
 
"From August 05 till 0730 IST August 07 - limited flights will be allowed to operate from Dubai airport," IndiGo said in a statement.
 
The airline said that it has already notified passengers about their respective flight status through various channels.
 
On Wednesday, Emirates flight EK521, ferrying 282 passengers and 18 crew, caught fire when it crash-landed at Dubai International Airport.
 
All passengers and crew were evacuated safely. After the incident, Dubai International Airport was closed for about six hours.
 
"Emirates cancelled 27 flights yesterday, and there were delays and rescheduled flights across the network," an Emirates spokesperson said.
 
"(In all) 23 flights were diverted to alternative airports -- Sharjah, Al Maktoum International (DWC), Fujairah, Al Ain, Muscat and Bahrain. In total, over 23,000 Emirates passengers were impacted by the disruption."
 
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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Nifty, Sensex may rise a bit – Thursday closing report
We had mentioned in Wednesday’s closing report that Nifty, Sensex may move in a narrow range. The major indices of the Indian stock markets were range-bound on Thursday and closed with namesake small gains over Wednesday’s close. The trends of the major indices in the course of Thursday’s trading are given in the table below:
 
 
Profit booking, along with negative Asian indices and a weak rupee, subdued the Indian equity markets on Thursday. However, a fresh bout of buying support and short covering during the last hour of the day's trade saw the key indices closing on a flat-to-positive note. The BSE market breadth was tilted in favour of the bulls during the second half of the session, closing with 1,444 advances and 1,258 declines. On the NSE, on Thursday, there were 764 advances, 677 declines and 59 unchanged.
 
Bata India has changed its strategy of opening over 100 stores a year and would start concentrating on same store growth, a said Chairman Uday Khanna on Thursday. It also plans to set up online kiosks in some major retail stores across the country. The shoe maker added 26 new retail stores during the last financial year, Khanna told shareholders at the company's 83rd annual general meeting. The company continues to penetrate into tier 2 and tier 3 cities in India and other rural markets, he said. The footwear maker has been investing to strengthen its digital multi-channel business division along with logistics division with due importance for delivery of footwear and accessories, its latest annual report said. In 2015-16, online sales reached Rs40 crore. The company reported standalone net profit of Rs50.49 crore for the first quarter ended June 30 as compared to Rs50.18 crore in the same period last year. The company’s shares closed at Rs528.65, down 4.44% on the BSE.
 
The Central Board of Direct Taxes (CBDT) has entered into an advance pricing agreement (APA) with an Indian subsidiary of a Japanese trading company to foster a non-adversarial tax regime. "Signing of this bilateral APA is an important step towards ascertaining certainty in transfer pricing matters of multinational company cases and dispute resolution," said a statement issued here by the Finance Ministry under which the CBDT functions. The agreement was signed on August 2. The scheme endeavours to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and setting the prices of international transactions in advance. "The progress of the APA Scheme strengthens the government's mission of fostering a non-adversarial tax regime," the statement said. Overall, it is fourth bilateral APA signed by the CBDT. The APA scheme was introduced in the Income-tax Act in 2012. The CBDT expects more APAs to be signed in the near future, it said. The agreement is likely to be favourable for FDI (Foreign Direct Investment) in India.
 
As India took a big leap towards a unified Goods and Services Tax (GST) regime across the country, with the upper house of parliament passing the relevant Constitution amendment bill on Wednesday, industry biggies and major think tanks said this transformational change is a win-win situation and hoped it will be implemented soon. Marie Diron, Senior Vice President, Sovereign Risk Group, Moody's Investors Service said, “The short-term credit implications of GST for the sovereign will be limited. In the medium term, GST is likely to have a positive impact on the economy and government revenues. We assume that GST will have no significant impact on inflation, in line with the revenue-neutral framework.” This development is likely to be favourable for both FDI and FII (foreign institutional investors) to invest in India.
 
The central government has decided to import another 30,000 tonnes of pulses for the buffer stock, official sources said on Thursday. The Price Stabilization Fund chaired by Consumer Affairs Secretary Hem Pande at a meeting here on Wednesday decided that fresh imports will include 20,000 tonnes of Tur dal and 10,000 tonnes of Urad. The government agencies have also procured about 1.19 million tonnes of pulses from the domestic market, official sources said. "The department of Consumer Affairs has requested state governments repeatedly to lift the pulses Tur and Urad from the buffer stock for distribution at not more than Rs 120/kg. Tur is being provided to the state at the rate of Rs67/kg and Urad at Rs 82/kg," a source said. Over 29,000 tonnes of pulses were allocated to the states as on August 1, 2016 but only three states have lifted some quantities against their allotments. Prices of pulses continue to be high despite a series of efforts from the government to put things under check. With agricultural imports drawing upon foreign exchange reserves of the country, inflation and stability of the rupee are likely to come under government control and the stock markets are likely to be subdued to that extent.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 

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