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Vijay Mallya gets bankruptcy reprieve from UK High Court

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In a relief to liquor baron Vijay Mallya, the High Court in London has deferred hearings on a plea by the SBI-led consortium of Indian banks, seeking the indebted tycoon to be declared bankrupt to enable them recover a loan of around 1.145 billion pounds from him. Justice Michael Briggs of the insolvency division of the High Court granted relief to Mallya, ruling that he should be given time till his petitions to the Supreme Court of India and his settlement proposal before the Karnataka High Court be determined, allowing…

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NEWS CATEGORIES SPORTS 

NBA legend Michael Jordan wins long-running China trademark dispute

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China’s Supreme Court has ruled in favour of basketball legend Michael Jordan in a long-running trademark dispute, ending an eight-year legal battle with a Chinese sportswear firm that illegally used his name. Upholding intellectual property rights is one of the core disputes of the US-China trade war, and a phase one deal signed in January saw Beijing pledge to improve protections of intellectual property. The landmark ruling, made late last month, prohibits the Fujian-based Qiaodan Sports from using the Chinese translation of Jordan’s name, Qiao Dan. The retired Chicago Bulls…

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ENTERTAINMENT NEWS CATEGORIES 

Bachchan starts distribution of 2,000 food packets in Mumbai

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Megastar Amitabh Bachchan on Thursday said he has undertaken the distribution of 2,000 food packets for lunch and dinner at various locations across the city for those hit by the lockdown due to the coronavirus pandemic. The 77-year-old actor said along with these packets, the efforts of providing around 3,000 bags of monthly provisions are also on. “On the personal front, 2,000 packets of food are being given each day for lunch and dinner at various locations over the city and the larger bags of a monthly provision, about 3,000…

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NEWS CATEGORIES WORLD NEWS 

Khamenei: Mass Ramadan events in Iran may stop over virus

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Iran’s supreme leader suggested Thursday that mass gatherings in the Islamic Republic may be barred through the holy Muslim fasting month Ramadan amid the coronavirus pandemic. Supreme Leader Ayatollah Ali Khamenei made the comment in a televised address as Iran prepares to restart its economic activity while suffering one of the world’s worst outbreaks. He is also the highest-ranking official in the Muslim world to acknowledge the holy month of prayer and reflection will be disrupted by the virus and the COVID-19 illness it causes. “We are going to be…

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NATIONAL NEWS NEWS CATEGORIES 

Death toll due to COVID-19 touches 166; cases climb to 5,734

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The death toll due to the novel coronavirus rose to 166 and the number of cases to 5,734 in the country on Thursday, according to the Union Health Ministry. While the number of active COVID-19 cases is 5,095, as many as 472 people were cured and discharged and one had migrated, it said. As many as 17 new deaths have been reported in the last 24 hours across the country, the ministry said. Eight deaths were reported from Maharashtra, three from Gujarat, two from Jammu and Kashmir and one each…

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BUSINESS NEWS CATEGORIES 

Sensex rallies over 1,265 pts; Nifty reclaims 9,100 level

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Equity benchmark Sensex rallied over 1,265 points on Thursday, led by robust buying in auto, financial and IT stocks amid hopes of a second stimulus package from the government to mitigate the blow of the Covid-19 lockdown. After hitting a high of 31,225.20 during the day, the 30-share BSE barometer ended 1,265.66 points or 4.23 per cent higher at 31,159.62. Similarly, the NSE Nifty soared 363.15 points, or 4.15 per cent, to 9,111.90. Mahindra and Mahindra was the top gainer in the Sensex pack, surging over 16 per cent, followed…

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ENTERTAINMENT NEWS CATEGORIES 

COVID-19: Salman Khan begins process of transferring funds to daily wage workers

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Bollywood superstar Salman Khan has started the process of transferring funds into the accounts of daily wage workers of the film industry, the Federation of Western Indian Cine Employees (FWICE) said on Wednesday. The actor had recently pledged to financially support 25,000 daily wage workers who have been badly hit by the 21-day lockdown to contain the coronavirus spread in the country. According to B N Tiwari, FWICE, President, Salman has made an initial payment of Rs 3,000 each to the daily wage workers of the film industry, starting Tuesday.…

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LEGAL NEWS NEWS CATEGORIES 

Coronavirus: SC refuses to pass any blanket order for release of prisoners above 50 yrs

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The Supreme Court Tuesday refused to pass any blanket order directing the Centre and states to consider granting parole or interim bail to prisoners above 50 years of age as also to those suffering from diabetes, high blood pressure, respiratory problem and other life threatening diseases in view of coronavirus pandemic. A bench of Chief Justice S A Bobde and Justices L Nageswara Rao said it doesn’t know what the government thinks about the issue but in the court’s view it should be case by case. We will not pass…

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BUSINESS NEWS CATEGORIES 

Rupee settles 70 paise lower at 76.34 against US dollar

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In a bid to provide further relief to states amid the coronavirus outbreak, the finance ministry is planning to soon release another about Rs 34,000 crore to states as compensation for their revenue loss in the goods and services tax (GST) regime. States, so far, have been paid pending dues till November and the remaining will be cleared in phases soon, sources said. The finance ministry cleared about Rs 34,000 crore pending GST compensation for October and November in two tranches. The first tranche of Rs 19,950 crore was released…

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NEWS CATEGORIES WORLD NEWS 

Trump announces to put a hold on WHO funding

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US President Donald Trump on Tuesday said he would put a hold on America’s funding to the World Health Organization, accusing it of becoming China-centric during the ongoing coronavirus pandemic. We’re going to put a hold on money spent to the WHO. We’re going to put a very powerful hold on it and we’re going to see. It’s a great thing if it works. But when they call every shot wrong, that’s no good, Trump told reporters at his daily White House news conference. Geneva-headquartered World Health Organization, receives vast…

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