2 bodies found, dozens missing in Mumbai-Goa highway bridge collapse

August 3, 2016

Raigad (Maharashtra), Aug 3: Two bodies were recovered on Wednesday after more than half the Mumbai-Goa highway bridge collapsed the previous night, plunging around 10 vehicles into the water.

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A multi-agency search operation was launched in the morning after a section of the British era bridge gave way due to heavy rains, leaving at least 22 people missing.

The bridge collapsed around midnight on Tuesday, but vehicles, unable to see the missing section in the dark, fell into the river. Two Maharashtra State Road Transport Corporation (MSRTC) buses were among the vehicles, carrying 17 passengers in total.

State authorities fear that victims of the mishap might have been washed into the sea 35 kms away.

Locals found the two male bodies 8 kms downstream from the site of the collapse. State authorities including the Raigad collector and the state public works minister, said the bodies were yet to be identified.

Government agencies, including teams from the National Disaster Response Force (NDRF), Navy and Indian Coast Guard, began search and rescue operations on Wednesday morning. The collector and police superintendent had arrived to coordinate efforts.

Stalled traffic from the collapsed bridge was diverted to a parallel bridge, the collector said.

Confirming the incident, chief minister Devendra Fadnavis tweeted at around 2 am on Tuesday night, saying: “There is no confirmed assessment of the casualties as the area is still very dark.”

He explained that there were two parallel bridges -- an old one constructed during the British era, and new one -- which connected to the Mumbai-Goa highway, both critical links to the road network.

“Primary reason seems to be high pressure caused due to flooding of river Savitri due to heavy rains in catchment of Mahabaleshwar,” ANI reported him as saying.

According to MSRTC?officials, the incident happened around 11:30 pm. They received information of the mishap when a driver of a Mumbai-bound bus saw a state transport bus being swept away in the current and alerted MSRTC control.

“Appearantly two buses, Jaigad-Mumbai and Rajapur-Borivali, are suspected to have washed away in the flood when the bridge collapsed along with some private vehicles. Seventeen passengers, nine and eight each, were travelling in the two buses,”said VV Ratnaparakhi, general manager (traffic), MSRTC.

The corporation has been unable to contact their staff on the buses.

MSRTC is the biggest public transport undertaking in the country with more than 17,000 buses ferrying 60 lakh passengers daily.

Rescue efforts afoot

Ranjitsingh Deol, vice chairman and managing director of MSRTC, said their officials had reached the spot and were assisting the NDRF team and other authorities in search and rescue operations.

Anupam Srivastava, commandant, NDRF (Pune), said, “The first team comprising of 40 men consisting of divers, swimmers, boats and equipment necessary for rescue operations was dispatched at 5 am in the morning. Three more teams -- two from Mumbai and one from Pune, each consisting of 40 men, have been asked to join operations.”

The Coast Guard dispatched a Chetak helicopter for search sorties at about 8:15 am to locate people who were swept away in the river’s current. A Seaking 42C all weather aircraft with diving team is being launched by the Indian Navy, a defence spokesperson said.

Additional superintendent of police (Raigad), Sanjay Patil, said 35 professional divers were combing the area on five boats and two kayaks. He added one helicopter from the coast guard and Navy each had joined the aerial survey.

For information on the missing persons, one may contact the toll free number 1077 or call on 02141 - 222118.

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Comments

R Ahmed
 - 
Wednesday, 3 Aug 2016

Also please take proper action on Gurupr bridge , thats also very old and from british era

Rikaz
 - 
Wednesday, 3 Aug 2016

Government should give priority on maintaining Kulur bridge, that too was built during british time.....please do not save money at the cost of safety of humankind.....

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News Network
March 6,2020

New Delhi, Mar 6: Shares of YES Bank and State Bank of India came under huge selling pressure on Friday as developments unfolded regarding SBI picking stake in the private lender. Shares of the lender hit record low of Rs 5.55, plunging 85 per cent, and were trading below its previous low of Rs 8.16 hit on March 9, 2009.

SBI, on the other hand, slumped 11 per cent to Rs 257.35 on the BSE. The benchmark S&P BSE Sensex was trading with a cut of over 3 per cent at 37,251.37 level.

In the past three months, share price of the private lender has plunged 41 per cent, while the state-owned lender has slipped 14 per cent. In comparison, the S&P BSE Sensex has dipped 5.6 per cent till Thursday.

On Thursday, the Reserve Bank of India superseded the board of troubled private sector lender YES Bank and imposed a 30-day moratorium on it “in the absence of a credible revival plan” amid a “serious deterioration” in its financial health.

During the moratorium, which came into effect from 6 pm on Thursday, YES Bank will not be allowed to grant or renew any loans, and “incur any liability”, except for payment towards employees’ salaries, rent, taxes and legal expenses, among others.

This is the first time that a bank of this size will be put under a moratorium by the RBI.

“The financial position of YES Bank had undergone a steady decline “largely due to inability of the bank to raise capital to address potential loan losses and resultant downgrades, triggering invocation of bond covenants by investors, and withdrawal of deposits,” RBI said in a statement.

“After the moratorium, the next step will be to infuse to money and keep the bank afloat. So from shareholders’ point of view, the future is certainly hazy as the capital requirement is huge. The good part, however, is that the RBI has stepped in and depositors don't have to worry,” says Siddharth Purohit, a research analyst at SMC Securities.

Meanwhile, analysts at Nomura believe that placing the Bank under moratorium implies that equity value in the bank would be negligible, and that the chances of private capital participating in future capital raising plan are near zero.

"Any resolution for Yes Bank is more proposed from the perspective of deposit holders and systemic stability, and not from the perspective of Yes Bank equity investors or even perpetual bond holders," they wrote in a note dated March 6.

In another development, SBI’s Board Thursday gave in-principle approval to consider an “investment opportunity” in YES Bank, even as it said “no decision had yet been taken to pick up stake in the bank”.

According to a  report, highly-placed sources indicated a rescue plan involving SBI and Life Insurance Corporation of India (LIC) was being discussed and an announcement in this regard might be made soon.

“While the finer details of the deal are being worked out, it is anticipated that both SBI and LIC together will take a 51 per cent stake in the bank, with a one-year lock-in period,” the report said.

Most analysts believe it is a positive step for the Indian financial sector as the government has tried to avoid a repeat of IL&FS-like crisis.

“The move is a positive step for the financial sector as a whole. By this, the government has tried to avoid a repeat of IL&FS-like crisis and has saved the depositors,” said AK Prabhakar, Head of Research at IDBI Capital. While we know that YES Bank has a huge pile of bad loans, SBI is the only bank that has the capacity to absorb it, he added.

However, the valuation at which YES bank would be taken over remains a cause of concern.

Global brokerage firm JP Morgan Thursday cut its target price for YES Bank on Thursday to Rs 1 per share, taking into account the potential fall in the lender’s net worth due to stressed assets.

“We believe forced bailout investors will likely want the bank to be acquired at near-zero value to account for risks associated with the stress book and likely loss of deposits. We think the bank will need to be recapitalised at nominal equity value and could test dilution of additional tier 1 (AT1) capital. We remain underweight and cut our target price to Rs 1 as we believe net worth is largely impaired,” JP Morgan said in a note.

Global brokerage firm Nomura estimates a need of Rs 25,000-44,000 crore and adjusted for Rs 7,400 crore of current coverage, if the current stress of Rs 65,000-70,000 crore faces 70 per cent loss given default (LGD).

"It implies Rs 18,000-37,000 crore needed for provisioning against the current net worth of Rs 25,700 crore Also, to run as going concern, the bank would require over Rs 20,000 crore of CET-1 capital as well," the note said.

YES Bank has registered slippages of Rs 12,000 crore so far in FY20, while it has placed Rs 30,000 crore of loan assets under the watch list. Its deposits stood at Rs 2.09 trillion on September 30, 2019, while its advances totalled Rs 2.24 trillion. The bank has delayed publishing its December quarter results by a month to March 14.

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News Network
June 21,2020

New Delhi, June 21: India today recorded the highest single-day spike in infections so far with 15,413 new cases reported in the last 24 hours. The total number of positive cases in India touched 4.11 lakh on Sunday.

As per the Ministry of Health data, the total number of coronavirus cases stands at 4,10,461 cases which include 1,69,451 active cases, 2,27,756 recovered/migrated cases, and 13,254 deaths as per the Ministry of Health data.

With 1,28,205 confirmed cases of COVID-19 so far, Maharashtra remains the worst-affected state in the country, followed by Tamil Nadu with 56,845 and Delhi 56,746. 

Delhi reported its highest single-day increase of 3,630 new coronavirus cases. With this, the state’s tally rose to 56,746. The toll rose to 2,112 with 77 deaths. As many as 7,725 people recovered, taking the total recoveries to 31,294.

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News Network
June 8,2020

Jaipur, Jun 8: An inquiry has been initiated against staff of a private hospital in Rajasthan's Churu district after receiving screenshots of a purported WhatsApp chat in which they allegedly discussed about not attending to Muslim patients affected by COVID-19, police said on Sunday.

Screenshots of the chat between the hospital staff had gone viral following which an investigation has been initiated, they said.

Dr Sunil Choudhary, who runs the Srichand Baradiya Rog Nidan Kendra in Sardarshahar and whose staff purportedly wrote the messages, apologised through a Facebook post, saying the hospital staff did not have any intention to hurt any religious groups.

"We have received a complaint following which we are taking action to register FIR in the matter," Churu Superintendent of Police Tejaswini Gautam said.

Sardarshahar police station SHO Mahendra Dutt Sharma said the police control room had received a complaint regarding screenshots of the chat being circulated on social media. "We are inquiring into the matter. An FIR will be registered against the names mentioned in the WhatsApp chat," Sharma said.

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