Mangaluru: NaMo Birgade leader denied anticipatory bail in RTI activist murder

Mangaluru, Jan 10: A gang of smugglers, who were planning to illegally export 4,000 kg of red sandalwood worth Rs 2 crore through New Mangalore Port, were nabbed in a joint operation by the anti-rowdy squad of Mangaluru North sub-division and sleuths of Panambur police station.

The arrested have been identified as Tabrez (36), Lohith (35), Rakesh Shetty (44), Hussain kunhimonu (45) and Farooq (45).

Commissioner of Police Dr P S Harsha said that red sandalwood worth Rs 2 crore were seized from the accused.

The other seized properties from the arrested include a Maruti Brezza, Renault Pulse, Tata Ace, two plywood boxes and seven mobile phones valued Rs 19 lakh.

Based on a tip off, the police raided a godown on the road leading to Jokatte from Baikamlady Industrial Area and seized 4,000 kg of red sanders worth  Rs 2 crore.

A case has been registered under Sections 50, 62, 80, 104 of Karnataka Forest Act and 144, 165 of Karnataka Forest Rules at the Panambur police station.

Puttur, Jan 4: As many as 27 passengers travelling in a private bus escaped with minor injuries after it toppled and fell into a roadside trench at Amai near Perne on Mangaluru-Bengaluru national highway last night, police said on Saturday.

Police said that the driver of the Bengaluru-bond bus lost control over the vehicle while traversing through the narrow bridge at Amai.

The bus was damaged in the mishap.

New Delhi, Feb 2: Budget 2020 announcement that insurance behemoth LIC will be listed was well received by market participants who said this will be "IPO of the decade" akin to the Saudi Aramco listing.

Finance Minister Nirmala Sitharaman on Saturday said Life Insurance Corporation (LIC) will be listed as part of the government disinvestment initiative.

A "highlight of the budget is the LIC IPO, which is akin to the Saudi Aramco listing for Indian capital markets, and will be IPO of the decade," Vijay Bhushan, President, Association of National Exchanges Members of India (ANMI) said.

According to Krishna Kumar Karwa, Managing Director, Emkay Global Financial Services, the LIC IPO will be a big positive for corporate governance and transparency and will open up one more avenue for fund raising for the government over the years.

Metropolitan Stock Exchange, Interim CEO, Balu Nair said: "The LIC listing will be eagerly awaited by investors and will provide huge fillip to capital raising through the primary market." The government proposes to sell a part of its holding in LIC through an initial public offer, Sitharaman said while presenting Budget 2020-21.

"The government will sell part of LIC through its listing in the stock market which is also a positive trigger for the market," Amit Gupta, CO-Founder and CEO, TradingBells.

Jaideep Hansraj, MD and CEO of Kotak Securities said listing of LIC would help bridge a gap in the Fiscal Deficit for FY21.

Currently, the government owns the entire 100 per cent stake in LIC.

Saudi Aramco shares were listed in December last year.