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Former India captain Sourav Ganguly takes over as 39th BCCI president

Agencies
October 23, 2019

Mumbai, Oct 23: Former India captain Sourav Ganguly on Wednesday took over as the BCCI's 39th president, becoming the biggest name to head the world's richest cricket board.

The 47-year-old Ganguly was officially entrusted with the task of heading Indian cricket for the next nine months at the BCCI's General Body meeting here, ending a tumultuous 33-month reign of the Supreme Court-appointed Committee of Administrators (CoA).

"It's official - @SGanguly99 formally elected as the President of BCCI," the BCCI posted on its Twitter page.

Ganguly's appointment was finalised last week.

In the meeting that was also a reunion of sorts for some of the familiar faces associated with the board before the CoA's institution, Union Home Minister Amit Shah's son Jay Shah was made the secretary.

During his tenure, Ganguly will look to coordinate with the old guard such as former President N Srinivasan and ex-Secretary Niranjan Shah, whose children are now part of the BCCI.

Mahim Verma of Uttarakhand became the new vice-president.

Former BCCI president and current junior finance minster Anurag Thakur's younger brother Arun Dhumal became the treasurer while Kerala's Jayesh George took the joint secretary's position.

Ganguly, who took over as India captain during one of its darkest hours following the 2000 match-fixing scandal, will need to demit office by the end of July next year as per the provisions of new constitution, which makes 'Cooling Off' period mandatory after six years in office.

One of the most elegant left-handers to have represented India, Ganguly is expected to make use of his experience gained as the secretary and later president of Cricket Association of Bengal (CAB).

He has set a few goals and the primary ones are restructuring of first-class cricket as well as getting the administration back in shape along with getting India's position of reverence back in the corridors of International Cricket Council (ICC).

With the conflict of interest rules in place, Ganguly will face the challenge of having quality cricketers on board as far as the Cricket Advisory Committee (CAC) and national selection committees are concerned.

His take on veteran Mahendra Singh Dhoni's international future, Day/Night Test cricket, permanent Test centres will also be dissected.

His tenure begins at a time when the International Cricket Council has left India out of its newly-formed working group, which might affect the country's share in the ICC revenue.

The group has been formed to figure out a new governance structure for the world body.

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News Network
March 4,2020

New Delhi, Mar 4: The Supreme Court on Wednesday revoked the ban of cryptocurrency imposed by the Reserve Bank of India (RBI) in 2018.

Pronouncing the verdict, the three-judge bench of the apex court said the ban was 'disproportionate'.

The bench included Justice Rohinton Fali Nariman, Justice S Ravindra Bhat and Justice V Ramasubramanian.

The Internet and Mobile Association of India (IAMAI), whose members include cryptocurrency exchanges, and others had approached the top court objecting to a 2018 RBI circular directing regulated entities to not deal with cryptocurrencies.

Advocate Ashim Sood, appearing for IAMI, submitted that Reserve Bank of India lacked jurisdiction to forbid dealings in cryptocurrencies. The blanket ban was based on an erroneous understanding that it was impossible to regulate cryptocurrencies, Sood submitted.

The petitioners had argued that the RBI's circular taking cryptocurrencies out of the banking channels would deplete the ability of law enforcement agencies to regulate illegal activities in the industry.

IAMAI had claimed the move of RBI had effectively banned legitimate business activity via the virtual currencies (VCs).

The RBI on April 6, 2018, had issued the circular that barred RBI-regulated entities from "providing any service in relation to virtual currencies, including those of transfer or receipt of money in accounts relating to the purchase or sale of virtual currencies".

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Agencies
February 10,2020

New Delhi, Feb 10: The government is set to privatise Central Electronics Ltd, a CPSE under the Department of Science and Technology, by selling its 100% stake with management control and has invited the Expression of Interest for the same by March 16.

The selected bidder will be required to lock in its shares for a period of three years during which it cannot undertake the sale of its stake in CEL, the PIM (Preliminary Information Memorandum) said.

"The government of India has 'in-principle' decided to disinvest 100 per cent of its equity shareholding in CEL (which is equivalent to 100 per cent of the total paid up equity share capital of CEL) through Strategic Disinvestment with transfer of management control (Strategic Disinvestment or Transaction)," DIPAM, the Disinvestment Department, said.

The process for the transaction has been divided into two stages, namely, Stage I and Stage II.

After BPCL and Air India, this is yet another CPSE which government is slated to privatise if it gets offers from bidders.

The government has set a challenging target of Rs 2.1 lakh crore disinvestment proceeds from CPSE sell-offs and IPOs, OFSs (Offer for sale) in the next fiscal and it going out all guns blazing to meet that target after revising this fiscal target of Rs 1.05 lakh crore to Rs 65,000 crore.

The Interested Bidders (which can also include employees of CEL) must have a minimum net worth of Rs 50 crore as on March 2019. DIPAM has released complete invitation Preliminary Information Memorandum (PIM) of CEL. Resurgent India Limited is the advisor to the Transaction.

CEL is a pioneer in the country in the field of Solar Photovoltaic (SPV) with the distinction of having developed India's first Solar cell in 1977 and first Solar panel in 1978 as well as commissioning India's first solar plant in 1992.

More recently, it has developed and manufactured the first crystalline flexible solar panel especially for use on the passenger train roofs in 2015.

Its solar products have been qualified to International Standards IEC 61215/61730. CEL is further working on development of a range of new and upgraded products for signaling and telecommunication in the railway sector.

In the SWOT analysis of the CPSE, DIPAM has stated under weakness that "the company has weak financial loss due to past losses, high manufacturing cost and non payment of dues by state nodal agencies affecting the financial position of the company".

The CPSE has adequate land for expansion, the SWOT analysis said adding "the CPSE faces threat of dumping of solar cells at very low rates which makes solar PV manufacturing industry unviable".

Entry of new players in the market for solar products and railway signalling systems also is cited as a threat.

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Agencies
August 9,2020

Manchester, Aug 9: Chris Woakes and Jos Buttler played knocks of 84 and 75 respectively as England gained an improbable three-wicket win over Pakistan in the first Test of the three-match series here at the Emirates Old Trafford.

England chased down a total of 277 on the fourth day of the first Test.

Chasing 277, England openers Rory Burns and Dom Sibley put on 22 runs for the first wicket, but Mohammad Abbas finally provided the breakthrough to Pakistan as he had Burns (10) adjudged leg-before wicket in the 12th over.

Skipper Joe Root came to the crease next, and he along with Sibley ensured that the side does not lose any more wickets before the lunch break, and England went into the lunch break at 55/1.

Sibley and Root eventually put up a 64-run stand, but their partnership was finally brought to an end by Yasir Shah as he dismissed Sibley (36) in the 36th over. Soon after, skipper Root (42) was also sent back to the pavilion by Naseem Shah, reducing England to 96/3 in the 39th over.

All eyes were on all-rounder Ben Stokes (9), but Pakistan's Yasir Shah sent him back to the pavilion in the 42nd over, and England was left in a spot of bother. Shaheen Shah Afridi, then also got among the wicket-taking charts as he scalped the wicket of Ollie Pope (7), reducing England to 117/5 in the 45th over.

Chris Woakes and Jos Buttler then got together at the crease, and the duo played in an aggressive manner to retrieve the innings for England. The hosts went into the tea break at 167/5, still, 110 runs away from the target with five wickets in hand.

Buttler and Woakes continued their march to frustrate the Pakistan bowling attack and the duo brought the target within the grasp of England. Both batsmen put up a stand of 139 runs, however, with just 21 runs away from the target, England lost the key wicket of Buttler (75) as Yasir Shah had him trapped in front of the wicket.

With England just needing four more runs for the win, Yasir Shah dismissed Stuart Broad (4), but in the end, Woakes and Dom Bess ensured England's win by three wickets.

For Pakistan, Yasir Shah was the pick of the bowlers as he scalped four wickets.

Earlier, resuming day four at 137/8, Yasir Shah (33) along with Mohammad Abbas (3*) and Naseem Shah (4) added 32 more runs to the overnight score to give England a target of 277 to win the first Test.

Stuart Broad was the pick of England bowlers as he scalped three wickets.

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