City Mumbai Financial News
01.03 / 14:45
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CBI to challenge Abdul Karim Tunda's acquittal in 1993 serial bomb blast case
ALSO READ: LeT’s Tunda tells court he wasn’t arrested in India The central probe agency agency said 12 people have been convicted in the case so far. These 12 include Irfan and Hamir-Ul-Uddin who were sentenced to life imprisonment by the Terrorist and Disruptive Activities (Prevention) Act (TADA) court on Thursday. Abdul Karim Tunda, a key accused in the 1993 serial train blasts case, was acquitted on Thursday.
01.03 / 11:45
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Rajnath Singh to inaugurate new building of Naval War College, Goa on March 5
Rajnath Singh will inaugurate the new administrative and training building of Naval War College at INS Mandovi near Panaji on March 5, a Navy official said on Friday. Rear Admiral Arjun Dev Nair, Commandant of the Naval War College told reporters that the building will help the institute train officers from all three military services three times more than its current strength. «This modern edifice has been named as 'Chola' in commemoration of the mighty maritime empire of the Chola dynasty. Defence Minister Rajnath Singh will inaugurate the new building on March 5 and the ceremony will be attended by senior naval leadership in addition to ex-commandants of the Naval War College,» he said. According to him, the College of Naval Warfare was established at INS Karanja in 1988 in Mumbai to impart advanced professional military education to the middle and senior level officers of the Indian Navy. The college was renamed as Naval War College in 2010 and was shifted to its current location at Goa in 2011. With the vision of being the pre-eminent iconic institution for higher military education, the mission of the college is to prepare officers of the armed forces for leadership at strategic and operational levels, Nair said.
01.03 / 07:45
security
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Mahadev betting app case: ED freezes assets worth over ₹580 crore of Dubai-based ‘hawala operator’
₹580 crore of a Dubai-based "hawala operator" and seized cash and valuables worth ₹3.64 crore after fresh raids in the Mahadev app-linked money laundering case, official sources said on Friday. The latest raids were launched on February 28 at various premises in Kolkata, Gurugram, Delhi, Indore, Mumbai and Raipur. Mahadev betting app case: ED conducts raid in West Bengal, Mumbai, NCR The ED probe in the Mahadev online gaming and betting app has indicated purported involvement of various high-ranking politicians and bureaucrats from Chhattisgarh.
01.03 / 07:17
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Bombay HC extends Sameer Wankhede's relief from arrest till March 27
Bombay High Court on Friday extended the relief from arrest given to former Narcotics Control Bureau (NCB) Mumbai Zonal Director Sameer Wankhede till March 27 in connection with a money laundering case. The court has adjourned the matter till March 27. The matter was adjourned after the Directorate of Enforcement (ED) sought time to file a short reply on Sameer Wankhede's petition challenging ED's Enforcement Case Information Report (ECIR) against him. ECIR is a formal entry of a complaint lodged by the ED. Wankhede has challenged the ECIR in the Bombay HC and has sought to quash the case against him.
01.03 / 07:01
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Why did BCCI grant central contract to Hardik Pandya but dropped Ishan Kishan-Shreyas Iyer
Indian Express has stated that Pandya committed to play for Baroda in the Syed Mushtaq Ali T20s and Vijay Hazare Trophy when he is not involved with the national team. Citing a senior BCCI official, the IE also reported that Pandya has affirmed his intention to maintain his partnership with Baroda in domestic tournaments whenever he is not on national team duty. “We have had discussions with Pandya, who has been told to play domestic white-ball tournaments when he is available.
01.03 / 03:07
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Who is Radhika Merchant—the new addition to the Ambani family
Rihanna, SRK arrive for Anant Ambani-Radhika Merchant pre-wedding celebrations Radhika Merchant is the younger daughter of Viren Merchant and Shaila Merchant, who are the founders and owners of Encore Healthcare. Radhika's father is the CEO of Encore Helathcare and also a board member of APL Apollo Tubes, a steel manufacturing company while her mother Shaila is the director of Encore Helathcare. Anant Ambani-Radhika Merchant pre-wedding festivities begin in Jamnagar | Watch Radhika's elder sister, Anjali Merchant is married to Akash Mehta- a businessman and a partner at EY.
29.02 / 18:07
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I-banks at the IIMs drop an optimistic note on India’s economy
MUMBAI : For a sure sign that domestic dealmaking is picking up in India, as is the economy, turn to the recruitment scene at the country’s premier management schools. Investment banks and private equity firms are handing out more domestic postings than international gigs to graduating students of the Indian Institutes of Management, in a sign that the persistent funding winter perhaps is finally thawing. Large domestic as well as global firms including DE Shaw, Goldman Sachs and Premji Invest are hiring graduates for functions across wealth management, institutional equities, asset management and investment banking profiles.
29.02 / 13:11
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PMLA court rejects Jet Airways founder Naresh Goyal's interim bail, allows him 2-month hospitalisation for cancer treatment
Jet Airways founder Naresh Goyal, arrested in a money laundering case, but permitted him to undergo cancer treatment at a hospital of his choice for two months. Goyal (74), who is lodged in Arthur Road jail in central Mumbai, had sought to be released on interim bail to undergo treatment for cancer. Special judge for cases under Prevention of Money Laundering Act (PMLA) M G Deshpande permitted Goyal to undergo treatment for the illness at Tata hospital or any other hospital of his choice for a period of two months. Last month, Goyal was permitted by the court to undergo tests at a private hospital here. On February 15, Goyal filed an application seeking interim bail on medical grounds as the tests revealed malignancy. The application said Goyal has to undergo some scans to determine the stage of the malignancy, based on which doctors will be able to determine the line of treatment, including surgery and chemotherapy. The doctors have advised an aggressive and immediate line of treatment to arrest any fatal issues that could arise in the applicant's case, the plea added.
29.02 / 11:53
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Bombay HC grants relief to Godrej Industries in a Dispute against the Income Tax department
Godrej Industries, the Bombay High Court has held the show cause notice issued by the revenue department against the group ‘bad in law’ and has clarified that it was barred by the limitation. In this case, Godrej Industries had challenged the show cause notice issued by the income tax department on May 22, 2022, with the arguments that the notice was issued during the pendency of reassessment proceedings under an earlier notice and, therefore, is illegal.
29.02 / 10:25
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DGCA levies fine of Rs 30 lakh on Air India for failing to provide adequate wheelchair
Directorate General of Civil Aviation (DGCA) has imposed a financial penalty of Rs 30 lakhs on Air India following a February 16 incident of non-availability of a wheelchair to an 80-year-old passenger who collapsed and died after walking from the aircraft to the airport terminal at Mumbai. The incident happened at the airport on February 12 after the passenger landed in an Air India flight from New York. A financial penalty of Rs.30 lakh has been imposed on Air India as per Aircraft Rules, 1937 for violating the provisions of the aforementioned regulations, DGCA said in a statement Thursday.
29.02 / 10:25
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Abdul Karim Tunda acquitted in 1993 serial blasts case
Ajmer Thursday acquitted Abdul Karim Tunda in the 1993 serial blasts case, observing the prosecution could not provide enough evidence to prove the charges. Two other accused — Irfan and Hamiduddin — have been sentenced to life imprisonment by the Terrorist and Disruptive Activities (Prevention) Act (TADA) court. The 81-year-old Tunda, a close aide of wanted terrorist Dawood Ibrahim, was accused of carrying out blasts in five trains in different cities in December 1993 to mark the first anniversary of the Babri Masjid demolition. Two people were killed and several injured in the blasts.
29.02 / 08:59
Airlines
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DGCA slaps Air India with ₹30 lakh penalty following 80-year-old passenger's death at Mumbai airport
₹30 lakhs on civil airline Air India following a 16 February incident of non-availability of a wheelchair to an 80-year-old passenger who collapsed and died after walking from the aircraft to the airport terminal at Mumbai. According to reports, an octogenarian Air India passenger had requested for a wheelchair at the Mumbai airport.
29.02 / 08:45
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Teach For India 2024 fellowship applications open till March 17
Teach For India has announced the opening of applications for the 2024 Fellowship program, inviting individuals interested in working towards educational equity for children. The Fellowship, a full-time paid position spanning two years, aims to nurture changemakers in the education sector. Eligibility Criteria
29.02 / 08:45
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Forging of CM Eknath Shinde's signature: Ajit Pawar assures strict action
Maharashtra Deputy Chief Minister Ajit Pawar said in the state assembly on Thursday that strict action would be taken against those involved in forging CM Eknath Shinde's signature. The Mumbai police on Wednesday registered a case against unidentified persons for allegedly forging the signature and stamp of CM Shinde. The forgery came to light due to the alertness of the Chief Minister's Office (CMO) staff after they received some memorandums suggesting certain actions. Leader of Opposition Vijay Wadettiwar raised the issue in the Lower House on Thursday, saying the issue of fake stamps of the CMO and forging of the chief minister's signature was serious.
29.02 / 08:45
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All about Abdul Karim Tunda: The main accused of 1993 bomb blasts who got released by court today
TADA (Terrorist & Anti-disruptive Activities Act) court in Ajmer today acquitted 1993 serial bomb blasts' main accused Abdul Karim Tunda, more than 30 years after the bomb blasts carried out in five trains across India to coincide with the first anniversary of Babri Masjid demolition in Ayodhya on Dec 6, 1992. «The honourable court has acquitted Abdul Karim Tunda from all the charges. The CBI failed to present any strong evidence against Abdul Karim Tunda,» says Tunda's advocate Shafiktullah Sultani. The TADA court had framed charges against main accused Abdul Karim Tunda and two others — Irfan alias Pappu and Hamiruddin — on Sept 30, 2021, for orchestrating the blasts in Lucknow, Kanpur, Hyderabad, Surat and Mumbai on the intervening night of Dec 5-6, 1993.
29.02 / 07:15
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Lok Sabha Election 2024 : Seat-sharing deal finalised by Maharashtra allies, announcement soon: Sanjay Raut
Sharad Pawar and Shiv Sena (UBT) in Mumbai. The MVA parties are part of the Indian National Developmental Inclusive Alliance (INDIA) bloc, an amalgamation of leading opposition parties came up last year to fight together in the 2024 Lok Sabha elections against the BJP-led National Democratic Alliance (NDA). Maharashtra has 48 Lok Sabha seats, second highest after Uttar Pradesh which sends 80 members to the lower house of the Parliament.
28.02 / 19:19
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BCCI cracks the whip: Shreyas Iyer, Ishan Kishan lose central contracts for ignoring domestic cricket
BCCI) on Wednesday cracked the whip on cricketers who refused to comply with its directives requiring all centrally-contracted and A -team players, who are fit to play, to make themselves available for participation in the domestic cricket tournaments. The BCCI announced a list of 30 senior men’s cricketers, up from last year’s 26, for the annual central contracts, with Rohit Sharma, Virat Kohli, Jasprit Bumrah and Ravindra Jadeja remaining in the topmost Grade A+ category. However, two names were conspicuous by their absence – Shreyas Iyer and Ishan Kishan. Iyer, who had a Grade B contract, was part of the Test side for the first two matches against England before being dropped for lack of runs. He had some issues with his back and went to the National Cricket Academy (NCA) for treatment. However, despite being declared fit by the NCA, he informed the Mumbai Cricket Association that wouldn’t be available for the Ranji Trophy quarter-final against Baroda saying that he was suffering from back spasms. Since then, though, he has joined the Mumbai squad for the semi-final against Tamil Nadu starting from March 2.
28.02 / 16:53
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Ishan Kishan, Shreyas Iyer axed from BCCI's contract list - Here's why
ALSO READ: BCCI terminates central contracts of Ishan Kishan and Shreyas Iyer. Check full contract list here Looking at Ishan Kishan's exclusion from BCCI's list, it appears the board was unhappy with him not participating in domestic cricket during periods when he was not representing the national team. Earlier on 17 December, when Ishan Kishan had left India's Tour of South Africa, the BCCI had said, "Mr Ishan Kishan has requested the BCCI to be released from the upcoming Test series against South Africa citing personal reasons.
28.02 / 16:11
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Suicide scam? Mumbai YouTuber's video of Ola driver goes viral, netizens say ‘saare influencers ko same cab wala mila’
Anisha Dixit put up a video where she shares snippets taken from the rear seat of the cab. The driver of the Ola cab, wearing a powder blue shirt and a black mask is seen crying and stating he would commit suicide. Anisha describes how an Ola driver she booked from Bandra began crying uncontrollably as soon as she entered the car.
28.02 / 16:11
markets
COST
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With eye on elections, PM to launch new petroleum projects worth ₹1.49 tn
NEW DELHI : New Delhi: Prime Minister Narenda Modi is set to inaugurate or lay the foundations for 29 projects in the petroleum sector worth ₹1.49 trillion ahead of elections due shortly. Modi will flag off an oil tanker from the ONGC Krishna Godavari deep water project on Saturday, which will carry 'first oil' from the Krishna Godavari Basin to Mangalore Refinery and Petrochemicals Ltd. First oil was produced from the block on 7 January.
28.02 / 14:19
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country
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International
India's super rich allocate 32 pc of their wealth in housing properties: Knight Frank
India's super rich have allocated 32 per cent of their wealth in residential properties in the country and overseas, Knight Frank said in a report on Wednesday. As per real estate consultant Knight Frank's The Wealth Report 2024, 32 per cent of India's Ultra-High-Net-Worth Individuals' (UHNWIs) wealth is allocated towards residential real estate asset class. Nearly 14 per cent of their residential portfolio is allocated outside India. UHNWIs are individuals with a net worth of USD 30 million and above.
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