Controversial Ayodhya verdict, protests cap eventful year

News Network
December 31, 2019

Dec 31: A high-octane Lok Sabha election campaign, a historic Supreme Court judgment settling the decades-old Ayodhya dispute and violent protests over the amended citizenship law – it was an eventful year for Uttar Pradesh.

Rape accusations against saffron-robed former Union minister Swami Chinmayanand and a life sentence for expelled BJP MLA Kuldeep Singh Sengar for the 2017 rape of a minor in Unnao brought the law and order situation in the state into sharp focus.

The ruling Bharatiya Janata Party swept Uttar Pradesh again in the Lok Sabha elections, pushing aside the Congress and the SP-BSP-RLD 'mahagathbandhan'.

Despite an aggressive campaign, followed with interest all over the country, UP’s opposition alliance could not make much of a dent. It won just 15 of the 80 parliamentary seats – Mayawati’s Bahujan Samaj Party got 10 and the Samajwadi Party five.

The BJP won 62 seats, down from 71 earlier, but increased its vote share from 42.63 per cent in 2014 to 49.6 per cent. The SP-BSP vote share dropped from 42.2 per cent in the last Lok Sabha polls to 37.3 per cent.

The Congress managed to win just one seat – its Raebareli bastion -- despite Priyanka Gandhi Vadra's appointment as the party general secretary in charge of eastern UP and her extensive campaign across the state. The biggest jolt came for the then Congress president Rahul Gandhi who lost his own Amethi stronghold.

In November, a five-judge Supreme Court bench pronounced verdict on the Ram Janmabhoomi-Babri Masjid land dispute in Ayodhya, allowing the construction of a temple at the contested site by a trust.

The Constitution bench headed by Chief Justice Ranjan Gogoi also directed the Centre to allot an alternative five-acre plot to the Sunni Waqf Board for building a new mosque at a "prominent" place in the holy town.

Later, the Supreme Court closed the doors on any further review of its 5-0 verdict, one of the most anticipated judgements in India's history.

In a case that triggered outrage and Supreme Court intervention, a 23-year-old law student accused former BJP MP Swami Chinmayanand of sexual abuse and rape.

A month later, after multiple twists and turns, Chinmayanand (72), who ran the trust that owned the college where the woman studied, was arrested. He was accused of misusing his authority for sexual intercourse, a charge short of rape.

The student was also arrested, on charges of extortion after the politician alleged that she was part of a conspiracy to extort money from him.

Apart from the Sengar episode, Unnao made news when a woman was set ablaze by five men, two of them accused earlier of raping her. She died later in Delhi.

The opposition kept targeting the Yogi Adityanath government over “rising” crime in the state, a charge trashed by it. The BJP government claimed there has not been a single communal riot during its tenure.

Another episode that provoked outrage was the gunning down of 10 Gond tribals in Sonbhadra’s Umbha village. They were allegedly attacked by a village head and his henchmen in an attempt to grab land. About 30 others were injured.

As the year drew to a close, violent protests broke out over the Citizenship Amendment Act, first at the Aligarh University Campus and a few days later in several districts after Friday prayers.

Police countered brickbats and arson with tear gas, rubber bullets and, in later admissions, by firing in “self-defence”.

About 20 people were killed during the protests, many of them due to firearm injuries. Human rights activists, however, allege a brutal police crackdown that targeted even those not involved in the protests.

Congress leader Priyanka Gandhi visited the state and the party has called for a judicial probe.

Midday meals served at schools also attracted controversy.

A video showed students at a school in Mirzapur being served just rotis and salt for their midday meal. Police initially booked the journalist who broke the story. Weeks later, a the staff at a primary school in Sonbhadra district was accused of diluting a litre of milk with a bucket of water to serve 80 children.

The bad press drowned out some feel-good stories from the state – like the staging of a Kumbh Mela that went off without a hitch and a groundbreaking ceremony for new projects, which the government claimed reflected a planned investment of Rs 65,000 crore.

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News Network
January 28,2020

Jan 28: China said on Tuesday that 106 people had died from a new coronavirus that is spreading across the country, up from the previous toll of 81.

The number of total confirmed cases in China rose to 4,515 as of Jan. 27, the National Health Commission said in a statement, up from 2,835 reported a day earlier.

The United States warned against travel to China on Monday and Canada issued a more narrow travel warning as the death toll from the spreading coronavirus passed 100, with tens of millions stranded during the biggest holiday of the year and global markets rattled.

Global stocks fell, oil prices hit three-month lows, and China's yuan dipped to its weakest level in 2020 as investors fretted about damage to the world's second-biggest economy from travel bans and the Lunar New Year holiday, which China extended in a bid to keep people at home.

The health commission of China's Hubei province said on Tuesday that 100 people had died from the virus as of Jan. 27, according to an online statement, up from the previous toll of 76, with the number of confirmed cases in the province rose to 2,714.

Other fatalities have been reported elsewhere in China, including the first in Beijing, bringing the deal toll to 106 so far, according to the People's Daily. The state newspaper put the total number of confirmed cases in China at 4,193, though some experts suspect a much higher number.

On Monday, US President Donald Trump offered China whatever help it needed, while the State Department said Americans should "reconsider" visiting all of China due to the virus.

Canada, which has two confirmed cases of the virus and is investigating 19 more potential cases, warned its citizens to avoid travel to China's Hubei province, at the heart of the outbreak.

Authorities in Hubei province are taking increasing flak from the public over their initial response to the virus. Chinese Premier Li Keqiang visited the city of Wuhan, epicentre of the outbreak, to encourage medical workers and promise reinforcements.

Visiting Wuhan in blue protective suit and mask, Li praised medics, said 2,500 more workers would join them in the next two days, and visited the site of a new hospital to be built in days.

The most senior leader to visit Wuhan since the outbreak, Li was shown on state TV leading medical workers in chants of "Wuhan jiayou!" - an exhortation to keep their strength up.

China's ambassador to the United Nations, following a meeting with UN Secretary-General António Guterres on Monday, said "the Chinese government attaches paramount importance to prevention and control of the epidemic, and President Xi Jinping has given important instructions. ...

"China has been working with the international community in the spirit of openness, transparency and scientific coordination," he said.

Guterres said in a statement, "The UN appreciates China's effort, has full confidence in China's ability of controlling the outbreak, and stands ready to provide any support and assistance."

MOUNTING ANGER

On China's heavily censored social media, officials have faced mounting anger over the virus, which is thought to have originated from a market where wildlife was sold illegally.

Some criticised the governor of Hubei province, of which Wuhan is the capital, after he corrected himself twice during a news conference over the number of face masks being produced.

"If he can mess up the data multiple times, no wonder the disease has spread so severely," said one user of the Weibo social media platform.

In rare public self-criticism, Wuhan Mayor Zhou Xianwang said the city's management of the crisis was "not good enough" and indicated he was willing to resign.

The central Chinese city of 11 million people is in virtual lockdown and much of Hubei, home to nearly 60 million people, is under travel curbs.

Elsewhere in China, people from the region faced questioning about their movements. "Hubei people are getting discriminated against," a Wuhan resident complained on Weibo.

Cases linked to people who travelled from Wuhan have been confirmed in a dozen countries, from Japan to the United States, where authorities said they had 110 people under investigation in 26 states. Sri Lanka was the latest to confirm a case.

INVESTORS WORRIED

Investors are worried about the impact. The consensus is that in the short term, economic output will be hit as authorities limit travel and extend the week-long New Year holiday — when millions traditionally travel by rail, road and plane - by three days to limit spread of the virus.

Asian and European shares tumbled, with Japan's Nikkei average sliding 2%, its biggest one-day fall in five months. Demand spiked for safe-haven assets such as the Japanese yen and Treasury notes. European stocks fell more than 2%.

The US S&P 500 closed down nearly 1.6%.

"China is the biggest driver of global growth so this couldn't have started in a worse place," said Alec Young, FTSE Russell's managing director of global markets research.

During the 2002-2003 outbreak of Severe Acute Respiratory Syndrome (SARS), which originated in China and killed nearly 800 people globally, air passenger demand in Asia plunged 45%. The travel industry is more reliant on Chinese travellers now.

Chinese-ruled Hong Kong, which has had eight cases, banned entry to people who had visited Hubei recently.

Some European tour operators cancelled trips to China, while governments around the world worked on repatriating nationals.

Officially known as 2019-nCoV, the newly identified coronavirus can cause pneumonia, but it is still too early to know just how dangerous it is and how easily it spreads.

"What we know about this virus it that transmission occurs through human contact but we are speaking of close contact, i.e. less than a meter," said Jerome Salomon, a senior official with France's health ministry.

"Crossing someone (infected) in the street poses no threat," he said. "The risk is low when you spend a little time near that person and becomes higher when you spend a lot of time near that person."

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News Networkwork
May 14,2020

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.

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News Network
March 6,2020

Mumbai, Mar 6: A Rolls Royce car, paintings of famous artists M F Hussain and Amrita Sher-Gil, designer handbags and other luxury items belonging to fugitive diamond jeweller Nirav Modi garnered over Rs 51 crore in the second auction conducted on Thursday.

As many as 40 items went under the hammer on Thursday, which marks the completion of auction of assets seized by the Enforcement Directorate.

The auction was conducted by Saffronart on behalf of the deputy director, Enforcement Directorate, and was expected to garner a minimum of Rs 40 crore in proceeds.

A collection of 112 prized assets of Modi were put up for live and online auctions from March 3 to 5, which included major artworks by contemporary and modern Indian artists, designer handbags, luxury watches and cars.

While the online auction on March 3-4 garnered Rs 2.04 crore against the expected proceeds of Rs 52 lakh, the live auction on Thursday garnered Rs 51.41 crore more.

These assets, seized by the ED, were put on auction in an attempt to recover a part of the dues Modi owes to various banks.

According to officials from Saffronart, the ED would get Rs 53.45 crore from the proceeds of these two auctions.

The lots that went under the hammer included legendary painter MF Hussain's painting of 'Battle of Ganga and Jamuna- Mahabharata 12' which went for a record 12 crore, the highest price received so far for the painter's work.

Amrita Sher-Gil's rare 1935 painting 'Boys with Lemons', which was auctioned for the first time, sold for Rs 15.7 crore ($2.24 million).

V S Gaitonde's tranquil 1972 painting was sold for Rs 9.52 crore while Manjit Bawa's Untitled 1992 sold for Rs 6.16 crore. Modi's Rolls Royce Ghost witnessed a high demand, selling for twice its estimate at Rs 1.68 crore ($240,000).

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