Godhra tragedy: Guj HC reduces death sentence of 11 to life term

Bengaluru, May 14: ABB India has posted a profit after tax of Rs 66 crore during the first quarter (January to March) due to lower volumes including service revenue and unfavourable mix.

In Q1 CY19, it had reported a profit after tax of Rs 89 crore. ABB India follows calendar year as its fiscal year.

The company reported a profit including exceptional items and before tax of Rs 87 crore. The resultant under-absorption and mark-to-market impact due to forex volatility were partly offset by refund incomes and a one-time gain on sale of solar business during the quarter.

Revenues for the first quarter stood at Rs 1,522 crore, impacted by lower sales, non-receipt of delivery clearance, lower service revenue in the nationwide lockdown due to the COVID-19 pandemic. This impact primarily occurred in March, the company said in a statement.

ABB India said it continues to maintain a stable cash position of Rs 1,464 crore as on March 31 in a market where cash collection continues to be a challenge.

Besides, despite many activities coming to a standstill in March, the quarter was marked by commissioning for a mining major at Raigarh in Chhattisgarh, electrical and automation systems for a cement major and port and electrics, drives and automation for a leading mill in Bangladesh.

Terminal installation and commissioning for LPG, power management electrical control system for a leading refinery and commissioning of two units of a power plant in Kerala are some of the other projects where ABB's involvement ensured continuity and safe operations, it said.

On a global scale, the impact of COVID-19, as well as the fall in oil prices, has significantly impacted the short-term outlook. The global economy is expected to contract in 2020 after a rapid deterioration in outlook driven by the pandemic.

Despite unprecedented stimuli by governments and central banks around the world and initial signs of recovering economic activity in China, macro-indicators point to a global recession of uncertain duration as many countries continue to face restrictions with anticipated long-term economic consequences, said ABB India.

While the company is taking prompt action to adapt its operations and cost base to safeguard profitability, it expects the results in the coming quarter to be impacted due to the loss of volumes.

Mysuru, Feb 26: The Pre-University Education Department was taking several measures to prevent paper leaks during the II PU examinations, scheduled to commence from March 4, a statement said on Tuesday.

Among the few measures that the board has chalked out, students would not be allowed to leave the examination hall till the last bell. In case of any emergency, the student could leave the exam hall but s/he would be required to surrender the question paper to authorities in the hall.

This is being done to ensure question papers aren’t circulated during exam hours by those who exit the hall before the last bell.

Bengaluru, Feb 29: Gangster Ravi Poojary, who was arrested from Senegal earlier this week, and is being interrogated by the Cental Crime Branch (CCB) police, wants to evade the Mumbai police for any kind of inquiry. Claiming that there is a serious threat to his life, he is believed to have told his investigators that he should not be sent there. Poojary is being grilled by the CCB for his alleged involvement in numerous cases.

“He is aware that he will be given to the custody of Mumbai police as he had committed several crimes before fleeing India and also made hundreds of extortion calls to the well-heeled there. Hence, he has started requesting us not to send him to Mumbai. He claimed that he has many rivals there and they may go to any extent to get him killed,” a source said. Poojary was once an associate of dreaded underworld don Dawood Ibrahim.

Poojary has little option but to face Mumbai cops

Poojary had left Dawood’s gang and had joined Chhota Rajan, who split from D-Company and established his own network. There were also attempts by Dawood’s men to assassinate Rajan on a few occasions. During his days in Mumbai, Poojary was also reportedly facing threats from Dawood and other gangsters. “Since Poojary had jumped bail in the murder case of a gangster in Mumbai and f l e d the country, he has no option but to face trial again. Besides, he has made over a hundred extortion calls to businessmen and celebrities in Mumbai in the last two decades.

It’s inevitable for him to face inquiry by the Mumbai police,” an official said. “Now that he knows his options are limited, he is requesting us not to send him to Mumbai under any circumstance, claiming that he faces a serious threat to his life by Dawood’s aides and others. However, when we are done with questioning him, and if Mumbai police approach the court, it will decide whether to give him to their custody or not,” the official added. Poojary, who was brought to India on February 24, has been remanded to police custody till March 7. The police are likely to seek extension of his custody as he is facing close to 100 cases in Karnataka.

Cases filed in 4 states the gangster, originally from Malpe in Dakshina Kannada, has cases against him in Kerala, Maharashtra, and Gujarat. At least 46 cases are registered in Bengaluru alone.