Housing.com fires maverick CEO Rahul Yadav

July 1, 2015

New Delhi, Jul 1: Realty portal Housing.com's board today sacked its CEO and co-founder Rahul Yadav with immediate effect, saying that his behaviour towards investors and media was not "befitting" of a CEO.rahul

Yadav will not be an employee or part of the SoftBank backed portal in any manner, the company said.

"Housing.com has released its CEO Rahul Yadav, with immediate effect, after a regular board meeting, held earlier today," it said in a statement.

"Yadav who is also the co-founder of the company, will no longer be an employee of Housing and be associated with the company in any manner, going forward," it added.

The board, unanimously agreed to bring Yadav's tenure to a close, with reference to "his behaviour towards investors, ecosystem and the media".

"The Board believed that his behaviour is not befitting of a CEO and is detrimental to the company, known for its innovative approach to product development, market expansion and brand building," the statement said.

Yadav has been in the thick of a controversy after he put in his papers questioning the intellectual capability of his company's board. Later, he apologised to the members.

Last month, he hogged the limelight again when he gave away all his holding, worth about Rs 200 crore, in the company to the employees.

In December, Housing.Com had raised USD 90 million through private equity infusion from SoftBank Group along with Falcon Edge and other existing investors.

While the search for an interim CEO is underway, Housing.com said, a transition plan has been put in place.

"The current senior executives of Housing will continue to run the operations on a daily basis, and ensure its continued smooth functioning. The Board and the Operating Committee will remain closely involved with all key decisions," it said.

The board, investors, management team and employees are keen to see Housing maximise its huge potential in India and beyond, as well as run in professional and world class manner, the company said.

The Board thanked Yadav for his contributions and wished him well, for his future endeavours.

Within two years of its founding, the company expanded from its original rent and resale proposition to include PGs and hostels, serviced apartments, land, plot projects, and new projects.

Housing.com has more than 2,551 employees in over 100 cities across India.

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News Network
February 9,2020

New Delhi, Feb 9: As the outbreak of novel coronavirus has lead to the death of more than 800 Chinese nationals, aviation regulator DGCA on Saturday said that foreigners who went to China on or after January 15 will not be allowed to enter India.

The DGCA, in its circular to airlines on Saturday, reiterated that all visas issued to Chinese nationals before February 5 have been suspended.

However, the Directorate General of Civil Aviation (DGCA) clarified, "These visa restrictions will not apply to aircrew, who may be Chinese nationals or other foreign nationalities coming from China."

"Foreigners who have been to China on or after January 15, 2020, are not allowed to enter India from any air, land or seaport, including Indo-Nepal, Indo-Bhutan, Indo-Bangladesh or Indo-Myanmar land borders," the DGCA said.

Among Indian airlines, IndiGo and Air India have suspended all of their flights between the two countries. SpiceJet continues to fly on Delhi-Hong Kong route.

On February 1 and 2, Air India conducted two special flights to Chinese city of Wuhan, epicentre of the outbreak, evacuating 647 Indians and seven Maldivians.

Till date, three Indians have tested positive for novel coronavirus.

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News Network
January 22,2020

Jan 22: India's ranking in the latest global Democracy Index has dropped 10 places to the 51st spot out of 167 owing to violent protests and threats to civil liberties challenging freedoms across the country.

Prime Minister Narendra Modi's government has been criticized by rights groups and western governments after shutting off the internet and mobile phone networks and detaining opposition politicians in Kashmir.

Modi’s government has also responded harshly to ongoing protests against a controversial, religion-based citizenship law. Muslims have said their neighborhoods have been targeted, while the central government has attempted to ban protests and urged TV news channels not to broadcast “anti-national” content. Some leaders in Modi’s ruling party called for “revenge” against protesters. India’s score in 2019 was its worst ranking since the EIU’s records began in 2006, and has fallen gradually since Modi was elected in 2014.

The Economist Intelligence Unit’s 2019 Democracy Index, which provides an annual comparative analysis of political systems across 165 countries and two territories, said the past year was the bleakest for democracies since the research firm began compiling the list in 2006.

“The 2019 result is even worse than that recorded in 2010, in the wake of the global economic and financial crisis,” the research group said in releasing the report on Wednesday.

The average global score slipped to 5.44 out of a possible 10 -- from 5.48 in 2018 -- driven mainly by “sharp regressions” in Latin America, Sub-Saharan Africa, the Middle East and North Africa. Apart from coup-prone Thailand, which improved its score after holding an election last year, there were also notable declines in Asia after a tumultuous period of protests and new measures restricting freedom across the region’s democracies.

Asia Declines

Hong Kong, meanwhile, fell three places to rank 75th out of 167 as more than seven months of violent and disruptive protests rocked the Asian financial hub. An aggressive police response early in the unrest, when protests were mostly peaceful, led to a “marked decline in confidence in government -- the main factor behind the decline in the territory’s score in our 2019 index,” the group said.

In Singapore, which ranked alongside Hong Kong at 75th, a new “fake news” law led to a deteriorating score on civil liberties.

“The government claims that the law was enacted simply to prevent the dissemination of false news, but it threatens freedom of expression in Singapore, as it can be used to curtail political debate and silence critics of the government,” EIU analysts said.

China’s score fell to just 2.26 in the EIU’s ranking, placing it near the bottom of the list at 153, as discrimination against minorities, repression and surveillance of the population intensified. Still, in China “the majority of the population is unconvinced that democracy would benefit the economy, and support for democratic ideals is absent,” the EIU said.

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News Network
May 12,2020

New Delhi, May 12: Former Prime Minister Manmohan Singh, who was admitted to the AIIMS here after suffering reaction to a new medication, was discharged on Tuesday.

The 87-year-old Congress leader was discharged around 12:30 pm, hospital sources said.

Manmohan Singh was shifted to a private ward in the Cardio-Neuro tower on Monday night. He was also tested for Covid-19 and his results had come out negative, the sources said. The Congress leader was admitted to the hospital on Sunday evening after he complained of uneasiness.

The sources said that Singh had developed a reaction to a new medication and was admitted to AIIMS for observation and investigation.

Manmohan Singh is currently a Member of Rajya Sabha from Rajasthan. He was the prime minister between 2004 and 2014.

In 2009, Singh underwent a successful coronary bypass surgery at the AIIMS.

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