Asia Cup final: India beat Malaysia 2-1 to win third Asia Cup title

Jul 2: Cricket's biggest names, most of whom could hear only stories of Sir Everton Weekes' exploits from the bygone era, on Thursday remembered the "great" batsman and a "greater human being" in glowing tributes after he died aged 95.

Weekes, who formed the famous three 'Ws' of West Indies cricket alongside Clyde Walcott and Frank Worrell as part of a formidable batting lineup for more than a decade, died on Wednesday.

His death left the cricket world in a state of mourning.

"As one of the remarkable 'Three Ws', along with Sir Clyde Walcott and Sir Frank Worrell, who together struck 39 Test centuries, he played an important hand in a period that marked the rising dominance of West Indies cricket," the ICC said in its obit.

The 1925 Barbados-born Weekes made his Test debut against England in 1948.

"On behalf of CWI I want to publicly express our deepest sympathy to the family of this remarkable Iconic sportsman and gentleman, who passed away earlier today," Cricket West Indies president Ricky Skerritt said in a release.

"I never had the opportunity to see Sir Everton bat, but I had the opportunity to get to know him a little in his later years. I learned about his incredible career by reading about him and looking at old videos when I could.

"His performance stats were excellent as he set tremendously high standards for his time."

In his career, Weekes played 48 Test matches and made 4,455 runs at an average of 58.61 per innings. That included a world-record five consecutive centuries in 1948 — scores of 141 against England in Jamaica, followed by knocks of 128, 194, 162 and 101 in India. In his next innings in Madras, he made 90 when he was controversially run out.

Skerritt added, "... Sir Everton was, therefore, a most amazing pioneer in West Indies cricket; a gentleman and quite simply a wonderful human being."

The modern-day cricketers also mourned his death and paid moving tributes.

Former India captain Anil Kumble tweeted, "Saddened to hear about the passing of WI legend Sir. Everton Weekes. Had met him during the ICC conference in Barbados. He remembered a conversation we had during his time as a match referee. Condolences to his family and friends."

Kumble's former India teammate VVS Laxman wrote, "Heard about the passing away of West Indies legend, Sir Everton Weekes. He was one of the greats of the game. My condolences to his family and loved ones."

Mike Atherton, the opener who led England in the 1990s, was also disappointed to know of the legend's passing away.

"Very sad to learn of the passing of Sir Everton Weekes. A humble man who wore his greatness lightly."

Former West Indies pacer Ian Bishop said, "I had the great privilege of spending time in the company of Sir Everton on several occasions over the past 2 decades. Never once did I leave his presence without feeling a sense (of) warmth, cheerfulness & having learnt something rich & endearing each time. A truly great human being. The Marylebone Cricket Club said in a statement: "Everyone at MCC and Lord's are saddened at the news of Sir Everton Weekes' passing,"

"He will forever be remembered as one of the West Indies' finest cricketers."

Former India player and current coach Ravi Shastri said, "Saddened by passing away of Sir Everton Weekes who was the last of the famous 'Three Ws'. A true humble great of the game. My thoughts and prayers are with Sir Weekes' family and fans in this hour of grief. RIP Sir Folded hands."

All three -- Walcott and Worrell, Weekes -- were born within a couple of miles of one another - within 18 months in Barbados between August 1924 and January 1926, and all made their Test debuts within three weeks in early 1948.

Worrell died in 1967 and Walcott in 2006.

Weekes' average of 58.61 runs places him along with George Headley in the top 10 Test averages of all time.

Darren Sammy, who captained West Indies few years ago, took to Twitter and wrote, "We lost a legend today. Sir Everton Weekes is part of @windiescricket great history and legacy. He also was a great human being. Condolences goes out to his family. May he Rest In Peace."

New Delhi, Jul 15: Air India has started the process of identifying employees, based on various factors like efficiency, health and redundancy, who will be sent on compulsory leave without pay (LWP) for up to five years, according to an official order.

The airline's board of directors have authorised its Chairman and Managing Director Rajiv Bansal to send employees on LWP "for six months or for a period of two years extendable upto five years, depending upon the following factors - suitability, efficiency, competence, quality of performance, health of the employee, instance of non-availability of the employee for duty in the past as a result of ill health or otherwise and redundancy", the order said on Tuesday.

The departmental heads in the headquarter as well as regional directors are required to assess each employee "on the above mentioned factors and identify the cases where option of compulsory LWP can be exercised", stated the order dated July 14.

"Names of such employees need to be forwarded to the General Manager (Personnel) in headquarter for obtaining necessary approval of CMD," the order added.

In response to queries regarding this matter, Air India spokesperson said,"We would not like to make any comment on the issue."

Aviation sector has been significantly impacted due to the travel restrictions imposed in India and other countries due to the coronavirus pandemic. All airlines in India have taken cost-cutting measures such as pay cuts, LWP and firings of employees in order to conserve cash flow.

For example, GoAir has put most of its employees on compulsory LWP since April.

India resumed domestic passenger flights from May 25 after a gap of two months due to the coronavirus pandemic.

However, the airlines have been allowed to operate only a maximum of 45 per cent of their pre-COVID domestic flights. Occupancy rate in Indian domestic flights has been around 50-60 per cent since May 25.

Scheduled international passenger flights continue to remain suspended in India since March 23.

The passenger demand for air travel will contract by 49 per cent in 2020 for Indian carriers in comparison to 2019 due to COVID-19 crisis, said global airlines body IATA on Monday.

Mar 16: An investigation into Coffee Day Enterprises Ltd., initiated by its board after the death of founder V.G. Siddhartha, is likely to conclude that at least Rs 2,000 crore is missing from its accounts, according to people familiar with the matter.

The months-long probe following the suicide of Siddhartha in July examined the financial transactions of India’s largest coffee chain and its dealings with dozens of private companies owned by the entrepreneur. The draft report, running more than a hundred pages, points to thousands of rupees that have gone missing, said the people, asking not to be named because the details aren’t public. It also details hundreds of transactions between the founder’s listed and personal businesses that were not conducted at arm’s length, they said.

Though the report is in its final stages, the precise details could change before its release, expected as early as this week, the people said. The missing funds could total more than Rs 2500 crore, one person said.

“The investigation report is still a work in progress, and not finalized,” a spokesman for the company said. “The board of directors and the company are unaware of its content at this point of time. Hence it would be premature to speculate on the investigation findings.”

The priority for management and Siddhartha’s family “is to keep the business running in a challenging environment and meet all stakeholder commitments, including 30,000 jobs associated with the group,” the spokesman added.

The disappearance of the 59-year-old founder last year stunned India’s business community. He had last been seen telling his driver he was going for an evening walk along a bridge in southern India; his body was found by local fishermen two days later. A letter delivered to Coffee Day’s board and employees, which appeared to be signed by Siddhartha, described massive debts and complained of pressure from lenders and tax authorities. It claimed he bore sole responsibility for the company’s financial transactions.

The probe began about a month later when the company brought in Ashok Kumar Malhotra, a retired senior official from India’s federal enforcement agency, to investigate. A senior lawyer practicing in India’s top court is assisting, the company said in a regulatory filing at the time.

The publicly traded Coffee Day was supposed to be India’s answer to Starbucks Corp. More than 1,500 of its Café Coffee Day outlets blanketed cities and highways, with affordable options for the country’s aspiring middle classes. The chain’s tagline: “A lot can happen over coffee.”

But the empire has been battered since the founder’s death. Its shares plummeted about 90% and its market value dropped to about $80 million. Trading was suspended in February.

India’s regulators are tracking the situation and may use the company’s final report as part of a deeper dive into its internal affairs, the people said. Coffee Day showed about Rs 2400 crore in cash and cash equivalents on its balance sheet as of March 2019, the most recent figures the company has issued.

After the death of Siddhartha however, the company faced a severe liquidity crunch and had “zero cash in the bank,” according to one of the people. It struggled with day-to-day expenses and paying salaries has been a strain, the person said.

The draft report details personal guarantees by Siddhartha for loans taken by Coffee Day, and his unsecured loans at high interest rates from local money lenders, the people said. It also probes Coffee Day’s defaults to coffee growers and other vendors, they said.

A related issue is that coffee estates owned by Siddhartha and several employees had been used as collateral for bank loans. The report found that valuations for properties were inflated to get the loans, one person said.

Investigators have examined several theories about what happened to the company’s money, including whether Coffee Day was manipulating its finances to show cash and profit and whether Siddhartha was taking cash out of the listed company to pay off a large investor to whom he had guaranteed a return, the person said. From the filings of his listed and private companies, the entrepreneur’s loans had totaled more than Rs 10,000 crore, and he had been squeezed by borrowing to repay interest on earlier loans, the person said.

In the letter purportedly from Siddhartha, the entrepreneur said he had tried his best but failed as an entrepreneur. “I am solely responsible for all mistakes,” the letter read. “Every financial transaction is my responsibility. My team, auditors and senior management are totally unaware of all my transactions. The law should hold me and only me accountable, as I have withheld this information from everybody including my family.”

As the report nears release, Coffee Day is finalizing a deal with Blackstone Group Inc. for real estate assets. A large tranche of the payment is due in about a week, one person said.

Coffee Day said it is working to reduce its debt load by divesting non-core enterprises.

“The aim is to save employment and preserve this iconic Indian brand,” the spokesman said.