Mi 17 choppers to spray water over burning forests in U'khand

May 1, 2016

Dehradun, May 1: With major fires blighting around 1,900 hectares of forests in Uttarakhand, the government today decided to press two MI-17 helicopters into service as NDRF, SDRF and Army personnel struggled to douse the flames which have claimed six lives till now.

choppersA total of 1890.79 hectares of green cover have been destroyed this fire season which had an early start on February 2 due to a dry winter.

Chamoli, Pauri, Rudraprayag, Tehri, Uttarkashi, Almora, Pithoragarh and Nainital are the worst-affected districts.

While three NDRF teams and one SDRF company are busy dousing the flames in different parts of the state, two IAF choppers have been sent to Nainital and Pauri districts, among the worst hit, to spray water over the burning jungles, Raj Bhawan officials here said.

Enough funds have been made available to all affected districts besides required personnel and equipment to deal with any situation, they said.

"One MI-17 chopper has been stationed at Bhimtal near Nainital right which is being loaded with water collected from the waterbodies in the area and begin spraying water over affected areas from tomorrow," Chief Secretary Shatrughna Singh said. Another IAF chopper sent to Pauri will operate in similar fashion, a Raj Bhawan official said.

With forest fires still raging three NDRF teams have been deployed in Almora, Gauchar and Pauri and one team of SDRF in Nainital to extinguish the flames, Principal Conservator of Forest B P Gupta said.

Rudraprayag forest division is also taking help from the army for fire fighting operations especially along the highway, he said.

The casualties due to forest fires, which have spread to sparsely populated remote hill areas, have risen to six with another life claimed in Nainital district on Friday evening. The deceased include three women and a child.

Since the beginning of forest fire season in the state in February, 922 incidents have occurred so far in which seven were injured and 1890.79 hectares of green cover being affected, Gupta said.

Worried over forest fires which are still raging in different parts of the state, Governor K K Paul reviewed the rescue efforts underway via videoconferencing with officials in the field and asked them to speed up their efforts.

NDRF companies assisted by expert teams and locals are conducting fire extinguishing and rescue operations in affected areas of Garhwal and Kumaon regions.

IG Sanjay Gunjyal is coordinating with the NDRF, the district magistrates concerned and Principal Conservator of Forest to supervise the rescue operations.

Locals are being encouraged to report a fire incident to the district magistrate concerned as soon as they sight it so that it can be controlled in time.

The governor has doubled the number of personnel deployed to control the fires from 3000 to 6000 and asked all agencies including the SDRF, district administration and the rural population to contribute their bit in the exercise saying the forest department alone cannot accomplish the onerous task, Gupta said.

Forest fires are natural during summer but this time they have occurred on a bigger scale as the fire season which normally begins by February 15 and ends by June 15, began on February 2.

Former chief minister Harish Rawat has asked the governor to declare Uttarakhand as a fire disaster struck state and involve locals as much as possible in fire extinguishing efforts.

Pradesh Congress president Kishore Upadhyay also wrote to party workers asking them to work unitedly to pull the state out of the crisis.

The PCF said the scale of forest fires in Uttarakhand this time has been bigger due to little or no rain during winter at most places.

Pre-fire alerts listing possible fire points over the next seven days in forest areas is being made available on forest department's website www.forest.uk.govt. an official release here said.

The governor today held a meeting held via video- conferencing at the secretariat with regard to forest fires and the preparations of char dham yatra.

He said the DMs must gather all resources required. The administration would provide the funds.

A system should be made in which the information about forest fires is obtained immediately and action taken immediately.

An incident response system should be activated. Control rooms in districts must work round the clock. DMs must ensure coordination among all departments.

Mass awareness campaigns be launched and gram panchayats, yuval mangal dals, mahila mangal dals and local people should be involved to ensure the control of the fires.

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News Network
March 9,2020

Mumbai, Mar 9: India's Yes Bank will not be merged with State Bank of India, which is set to infuse funds in the beleaguered lender, the newly appointed administrator leading the rescue plan said in a television interview on Monday.

"There is absolutely no question of a merger," Prashant Kumar, the administrator, told the CNBC TV18 channel.

The Reserve Bank of India (RBI) on Thursday took control of Yes Bank, after the lender - which is laden with bad debts - failed to raise the capital it needs to stay above mandated regulatory requirements.

Placing Yes Bank under a 30-day moratorium, the central bank imposed limits on withdrawals to protect depositors and said it would work on a revival plan. The move spooked depositors, who rushed to withdraw funds from the bank.

Kumar, a former finance chief at SBI, assured depositors their money was safe and that the moratorium on Yes Bank might be lifted much before the deadline on April 3 and normal banking operations might resume as early as Friday.

He also mentioned that the withdrawal limit of Yes Bank may be removed by March 15, 2020.

SBI Chairman Rajnish Kumar said on Saturday the state-run bank would need to invest up to 24.5 billion rupees ($331 million) to buy a 49% stake in Yes Bank as part of the initial phase of the rescue deal, adding that the survival of troubled lender was a "must".

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News Network
July 14,2020

New Delhi, Jul 14: India's COVID-19 tally breached the 9 lakh mark as 28,498 new coronavirus cases were reported in the last 24 hours, informed the Union Ministry of Health and Family Welfare on Tuesday.

As per the Health Ministry, there are a total of 9,06,752 coronavirus cases in the country of which 3,11,565 patients are active cases.

5,71,459 patients have been cured/discharged while one patient has been migrated, the Ministry informed further.

553 more deaths due to COVID-19 were reported in the last 24 hours in the country, taking the number of patients succumbing to the virus to 23,727.

The Centre further informed that India's recovery rate from COVID-19 stands at 63.02 per cent while the recoveries and deaths ratio stood at 96.01 per cent and 3.99 per cent respectively.

As per the Ministry, Maharashtra -- the worst-affected state from the infection -- has a total of 2,60,924 COVID-19 cases and 10,482 fatalities. While Tamil Nadu has a tally of 1,42,798 cases and 2,032 deaths due to COVID-19.

Delhi has reported a total of 1,13,740 cases and 3,411 deaths due to COVID-19.

As per the information provided by the Indian Council of Medical Research (ICMR) 1,20,92,503 samples have been tested for COVID-19 till July 13, of these 2,86,247 samples were tested on Monday.

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News Network
March 16,2020

Mar 16: An investigation into Coffee Day Enterprises Ltd., initiated by its board after the death of founder V.G. Siddhartha, is likely to conclude that at least Rs 2,000 crore is missing from its accounts, according to people familiar with the matter.

The months-long probe following the suicide of Siddhartha in July examined the financial transactions of India’s largest coffee chain and its dealings with dozens of private companies owned by the entrepreneur. The draft report, running more than a hundred pages, points to thousands of rupees that have gone missing, said the people, asking not to be named because the details aren’t public. It also details hundreds of transactions between the founder’s listed and personal businesses that were not conducted at arm’s length, they said.

Though the report is in its final stages, the precise details could change before its release, expected as early as this week, the people said. The missing funds could total more than Rs 2500 crore, one person said.

“The investigation report is still a work in progress, and not finalized,” a spokesman for the company said. “The board of directors and the company are unaware of its content at this point of time. Hence it would be premature to speculate on the investigation findings.”

The priority for management and Siddhartha’s family “is to keep the business running in a challenging environment and meet all stakeholder commitments, including 30,000 jobs associated with the group,” the spokesman added.

The disappearance of the 59-year-old founder last year stunned India’s business community. He had last been seen telling his driver he was going for an evening walk along a bridge in southern India; his body was found by local fishermen two days later. A letter delivered to Coffee Day’s board and employees, which appeared to be signed by Siddhartha, described massive debts and complained of pressure from lenders and tax authorities. It claimed he bore sole responsibility for the company’s financial transactions.

The probe began about a month later when the company brought in Ashok Kumar Malhotra, a retired senior official from India’s federal enforcement agency, to investigate. A senior lawyer practicing in India’s top court is assisting, the company said in a regulatory filing at the time.

The publicly traded Coffee Day was supposed to be India’s answer to Starbucks Corp. More than 1,500 of its Café Coffee Day outlets blanketed cities and highways, with affordable options for the country’s aspiring middle classes. The chain’s tagline: “A lot can happen over coffee.”

But the empire has been battered since the founder’s death. Its shares plummeted about 90% and its market value dropped to about $80 million. Trading was suspended in February.

India’s regulators are tracking the situation and may use the company’s final report as part of a deeper dive into its internal affairs, the people said. Coffee Day showed about Rs 2400 crore in cash and cash equivalents on its balance sheet as of March 2019, the most recent figures the company has issued.

After the death of Siddhartha however, the company faced a severe liquidity crunch and had “zero cash in the bank,” according to one of the people. It struggled with day-to-day expenses and paying salaries has been a strain, the person said.

The draft report details personal guarantees by Siddhartha for loans taken by Coffee Day, and his unsecured loans at high interest rates from local money lenders, the people said. It also probes Coffee Day’s defaults to coffee growers and other vendors, they said.

A related issue is that coffee estates owned by Siddhartha and several employees had been used as collateral for bank loans. The report found that valuations for properties were inflated to get the loans, one person said.

Investigators have examined several theories about what happened to the company’s money, including whether Coffee Day was manipulating its finances to show cash and profit and whether Siddhartha was taking cash out of the listed company to pay off a large investor to whom he had guaranteed a return, the person said. From the filings of his listed and private companies, the entrepreneur’s loans had totaled more than Rs 10,000 crore, and he had been squeezed by borrowing to repay interest on earlier loans, the person said.

In the letter purportedly from Siddhartha, the entrepreneur said he had tried his best but failed as an entrepreneur. “I am solely responsible for all mistakes,” the letter read. “Every financial transaction is my responsibility. My team, auditors and senior management are totally unaware of all my transactions. The law should hold me and only me accountable, as I have withheld this information from everybody including my family.”

As the report nears release, Coffee Day is finalizing a deal with Blackstone Group Inc. for real estate assets. A large tranche of the payment is due in about a week, one person said.

Coffee Day said it is working to reduce its debt load by divesting non-core enterprises.

“The aim is to save employment and preserve this iconic Indian brand,” the spokesman said.

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