Kerala: Orange alert issued as water level in Pamba dam reaches 983.05 m

New Delhi, May 9: The Supreme Court on Friday agreed to consider a plea raising the issue of mass termination and the illegal salary cut of employees in IT/ITES/BPO/KPI by their employers during the lockdown due to the spread of the coronavirus.

A bench comprising Justices Ashok Bhushan, S.K. Kaul and B.R. Gavai, taking up the matter through video conferencing, agreed to examine the issue and listed it for May 15.

The petition, argued by senior advocate Devadatt Kamat, was filed by National Information Technology Employees Sena (NITES) through advocate-on-record Amit Pai, and sought implementation of directions issued by the Centre on March 29 and similar advisories issued by several other states mandating payment of wages/salaries to the employees and also directed not to terminate them during the period of lockdown.

A directive was issued by the Union Ministry of Labour and Empowerment to all Chief Secretaries of state governments to issue advisories to public and private companies to not lay off employees or implement pay cuts during lockdown.

In the Centre for Monitoring Indian Economy (CMIE) report published on April 19, it was noted that "several companies across the country have started to terminate its employees without any reasonable cause and have started withholding their salaries. It is submitted that in such testing times, the rights of the employees ought to be protected by necessary orders/directions to the companies through the Respondents to effectively implement the lockdown and to contain the spread of the virus", said the plea.

On March 29, the Centre issued an order directing all states and Union Territories to issue orders, requiring all the employers in the industrial sector and shops and commercial establishments to pay wages on the due date without any deduction during their closure due to the lockdown.

New Delhi, May 17: Eight of the 10 most valued domestic firms suffered a combined erosion of Rs 1,37,311.31 crore in market valuation last week, with Reliance Industries (RIL) taking the biggest knock.

Only Bharti Airtel and ITC from the top-10 list managed to close the week with gains.

RIL's market cap plunged Rs 65,232.46 crore to Rs 9,24,855.56 crore.

The market valuation of HDFC Bank declined Rs 22,347.07 crore to Rs 4,87,083.88 crore and that of Hindustan Unilever Limited tanked Rs 13,192.26 crore to Rs 4,77,458.89 crore.

ICICI Bank's market cap dropped Rs 9,770.06 crore to Rs 2,08,900.79 crore.

Infosys witnessed a decline of Rs 9,518.84 crore in valuation to reach Rs 2,77,814.09 crore while that of HDFC tumbled Rs 9,370.38 crore to Rs 2,83,293.70 crore.

The m-cap of Kotak Mahindra Bank slipped by Rs 7,805.2 crore to Rs 2,25,327.22 crore.

Tata Consultancy Services' market valuation dipped Rs 75.04 crore to Rs 7,10,439 crore.

In contrast, Bharti Airtel added Rs 13,147.89 crore to its valuation to stand at Rs 3,02,292.43 crore.

ITC's valuation also rose by Rs 7,744.11 crore to Rs 2,02,330.13 crore.

In the ranking of top-10 firms, RIL retained the number one spot, followed by TCS, HDFC Bank, HUL, Airtel, HDFC, Infosys, Kotak Mahindra Bank, ICICI Bank and ITC.

During the last week, the Sensex declined 544.97 points or 1.72 per cent.

Kochi, Mar 24: Long queues were witnessed in front of state beverages corporation outlets across Kerala on Tuesday despite the statewide lockdown to prevent the spread of the coronavirus.

As tipplers thronged the outlets unmindful of the curfew, officials asked them to ensure that they kept a one metre distance between them as part of preventive steps to check the COVID-19 transmission.

Official sources said precautionary measures have been taken at the beverages outlets to prevent the virus spread.

Only those wearing masks were allowed to stand in queues, the sources said.

Police were deployed to ensure that the people standing in queues keep a one metre distance between them, they added.

The opposition Congress slammed the CPI(M)-led LDF government for not taking steps to restrict crowds in front of the Kerala State Beverages Corporation (Bevco) outlets, apprehending that such a situation would pave way for spreading the virus.

Ernakulam district congress committee general secretary Sherin Varghese claimed if the government had implemented a 2017 Kerala high court order directing the beverages corporation to take remedial steps to end long queues in front of the outlets, such a situation would not have arisen.

"Had the beverages corporation complied with the court order, safety and security of persons standing in queues could have been ensured.

Now there is no protective measure to prevent the possible transmission of the coronavirus from a carrier to another person," he told PTI.

Meanwhile, the state government has directed that adequate distance be kept between people standing in queues.

Chief Minister Pinarayi Vijayan on Monday justified the decision to keep the liquor shops open citing the "peculiar" situation prevailing in the state.

Kerala is in a total lockdown since Monday midnight till March 31 to check the virus spread.