Banks working with UK agencies on Mallya: SBI MD

Agencies
July 6, 2018

New Delhi, Jul 6: Indian banks are working very closely with various agencies, including in the UK, to recover maximum out of assets owned by Vijay Mallya after a British court allowed them to search and seize properties of the fugitive liquor baron, SBI MD Arijit Basu said today.

"We have been able to come this far because of efforts that was taken in a very coordinated manner by all agencies including the government. We are very happy with the court order and with this kind of order we have we should be able to go after those assets," he told reporters here.

The SBI is the leader of consortium of 13 banks that lent about Rs 9,000 crore to Mallya's now defunct Kingfisher Airlines.

Without giving a specific number, Basu said: "there are various laws which operate between different countries that allow us to go beyond our national borders. With the effort that we have made, we have got worldwide freezing order. Going by the assets that we have, we feel that it will be significant amount of the debt if not whole amount".

Asked about timeline for auction, he said, banks are working very closely with all agencies and lawyer in London as to how High Court Enforcement Order (HCEO) can be enforced.

State Bank of India has appointed valuer to assess the value of assets of Mallya.

Asked about recovery in India, Basu said, the consortium has recovered Rs 963 crore from auction of Mallya's Indian assets.

The order grants permission to the UK High Court Enforcement Officer to enter the 62-year-old tycoon's properties in Hertfordshire, near London.

It permits the officer and his agents entry to Ladywalk and Bramble Lodge in Tewin, Welwyn, where Mallya is currently based. However, it is not an instruction to enter, which means the banks have the option to use the order as one of the means to recover estimated funds of around 1.145 billion pounds.

"The High Court Enforcement Officer, including any enforcement agents acting under his authority, may enter Ladywalk, Queen Hoo Lane, Tewin, Welwyn... and Bramble Lodge, Queen Hoo Lane, Tewin, Welwyn, including all outbuildings of Ladywalk and Bramble Lodge to search for and take control of goods belonging to the First Defendant (Mallya)," notes the order by Justice Byran, dated June 26.

"The High Court Enforcement Officer, including any Enforcement Agent acting under his authority, may use reasonable force to enter the Property if necessary," it states.

Giving the background of the case, Basu said, banks have worked really hard for the last 2-3 years to try and get recovery order which has been given by the debt recovery tribunal because many of the assets which this person holds are not in the country but outside.

Last consortium meeting took place on May 30 following which the bank appointed lawyer in London, he said, adding that the concerted efforts of banks resulted in this landmark order.

The order relates to the UK’s Tribunal Courts and Enforcement Act 2007 and follows a UK High Court ruling in May, which refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that the Indian banks were entitled to recover funds.

It marked the first recorded case of a judgment of the Debt Recovery Tribunal (DRT) in India being registered by the English High Court, setting a legal precedent.

Mallya has made an application in the Court of Appeal seeking permission to appeal against the order, which remains pending.

Mallya, who is separately fighting extradition to India on fraud and money laundering charges worth an estimated Rs 9,000 crores, had recently issued a media statement condemning the charges against him as politically motivated.

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Agencies
May 17,2020

New Delhi, May 17: With the highest-ever spike of close to 5,000 cases in the past 24 hours, the COVID-19 count in India has crossed 90,000 on Sunday.

With an increase of 4,987 COVID-19 cases being reported in the last 24 hours, the count has reached 90,927, according to the Union Ministry of Health and Family Welfare.

The total number of active cases in the country stands at 53,946 today, while 2,872 deaths have been recorded due to the infection so far, with one patient having migrated. 120 deaths were reported in the last 24 hours.

However, on the positive side, close to 4,000 patients have also been cured and discharged in the past 24 hours, taking the tally of cured patients to 34,108.

With 30,706 confirmed cases, Maharashtra remains the worst-affected by the infection in the country.

It is followed by Gujarat and Tamil Nadu, with 10,988 and 10,585 cases, respectively.
The national capital, with 9,333 cases, is also one of the regions which is badly affected by the infection.

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News Network
January 13,2020

Jan 13: India lost more than $1.33 billion to internet restrictions in 2019 as Prime Minister Narendra Modi’s government pushed ahead with his party’s Hindu nationalist agenda, raising tensions and sparking nationwide protests.

The worst shutdown has been in Kashmir, where after intermittent closures in the first half of the year, the internet has been cut off since Aug. 5 following the government’s decision to revoke the special autonomous status of the country’s only Muslim-majority state, a study said. The prologued closure was criticized by India’s highest court, which ruled Friday that the “limitless” internet shutdown enforced by the government for the last five months was illegal and asked that it be reviewed.

India imposed more internet restrictions than any other large democracy, according to the Cost of Internet Shutdowns 2019 report released by Top10VPN, a U.K.-based digital privacy and security research group. The South Asian nation recorded the third-highest losses after Iraq and Sudan, which lost $2.31 billion and $1.86 billion respectively to disruptions. Worldwide internet restrictions caused losses worth $8.05 billion, the report said.

The cost of internet blackouts was calculated using indicators from groups including the World Bank, International Telecommunication Union, and the Delhi-based Software Freedom Law Center. It includes social media shutdowns in its calculations.

India’s ministry of information and technology didn’t respond to an email seeking a response to the report’s findings.

‘Conservative Estimates’

Through 2019, India shut access to the internet for over 4,000 hours. The report added shutdowns in India were often narrowly targeted, down to the level of blocking city districts for a few hours to allow security forces to restore order. Many of these incidents were not included in the report.

“These are conservative estimates,” said Simon Migliano, head of research at U.K.-based Top10VPN. “Internet shutdowns are increasing and it shows a damaging trend.”

India’s other major internet disruptions coincided with two moves by the government that affect India’s Muslim minority. The first disruption took place in November in the states of Uttar Pradesh and Rajasthan after the Supreme Court handed a victory to Hindu groups over Muslim petitioners in a long-simmering dispute over a plot of land.

There were further disruptions in December when protests erupted against the introduction of a religion-based law that allows undocumented migrants of all faiths except Islam from neighbouring countries to seek Indian citizenship. The government enforced shutdowns across Uttar Pradesh and some Northeastern states in order to quell the protests, the report said.

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Agencies
August 4,2020

Ayodhya, Aug 4: Ramarchan puja begins at Ram Janmabhoomi site ahead of the foundation laying ceremony of Ram Temple in Ayodhya.
Ramarchan Puja is a prayer to invite all major gods and goddesses ahead of Lord Ram's arrival.

Mahesh Bhagchandka, one of the trustees of Ashok Singhal foundation as Yajman in the puja said, "This is being conducted at the temporary seat of Ramlalla. The pooja will be conducted in four phases."

Speaking about the third and fourth phases, he said: "In the third phase, Dashrath, father of Lord Ram with his wives will be worshipped and then all three brothers of Lord Ram - Laxman, Bharat and Shatrughan with their wives. Lord Hanuman ji will too be worshipped. Whereas in the fourth phase, Lord Ram will be worshipped."
Meanwhile, security has been heightened in Ayodhya ahead of the foundation laying ceremony.

Temples across the city is decorated with lights, diyas and flowers ahead of the grand event. Patna's Mahavir Mandir Trust is preparing over 1.25 lakh 'Raghupati Laddoos' for the occasion. Thes laddoos will be distributed as 'prasad' to devotees.

Uttar Pradesh Chief Minister Yogi Adityanath on Monday offered prayers at the Hanuman Garhi temple during his visit to Ayodhya to take stock of the preparations for the 'bhoomi pujan'.
He along with officials also visited 'Ram ki Paudi' to inspect the arrangements ahead of the foundation stone laying ceremony.

Prime Minister Narendra Modi is scheduled to lay the foundation stone of the Ram Temple in Ayodhya on August 5. 

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