Mortal remains of Sridevi reaches Mumbai along with family members

Agencies
February 27, 2018

The body of Bollywood icon Sridevi, whose sudden death triggered a frenzy of grief, disbelief and searching questions, was flown back to Mumbai today after Dubai authorities determined that she had accidently drowned in her hotel bathtub.

Family members, including her film-maker husband Boney Kapoor and stepson Arjun Kapoor, brought her body in a private jet after three days of uncertainty over her unexpected death on Saturday in Dubai.

Earlier today, Dubai Public Prosecutor's Office put an end to speculation about the cause of her death, saying she accidentally drowned in the bathtub following loss of consciousness, and that the "case was now closed".

It did not say what caused the 54-year-old superstar to lose consciousness. The Embraer jet, owned by industrialist Anil Ambani, landed in Mumbai around 9.30 p.m. and the cremation is scheduled tomorrow around 3.30 p.m.

Ending speculation over Bollywood diva Sridevi's sudden death, the Dubai Public Prosecutor's Office said on Tuesday that she accidentally drowned following loss of consciousness and that her body was "released" to the family after a comprehensive probe.

Sridevi's funeral will take place on Feb. 28 late afternoon here, the family said in a statement.

In a detailed announcement, the family said that her body will be kept at Celebration Sports Club in Lokhandwala for people to pay their last respects before it is taken for cremation.

"On behalf of Khushi, Janhvi, Boney Kapoor, the entire Kapoor and Ayyappan families, a sincere thanks to the media for your continued sensitivity and support during this emotional moment," the statement read. It said that well-wishers can pay their condolences from 9.30 a.m. to 12.30 p.m. at Celebration Sports Club, Garden No 5, Lokhandwala Complex, Andheri West.

The family said that the media can also pay their respects "provided camera, recording devices etc. are left outside the venue. The last journey will commence at 2 p.m. from Celebration Sports Club to Vile Parle Seva Samaj Crematorium and Hindu Cemetery." 

The cremation will take place at around 3:30 p.m. on Wednesday. The 54-year-old actress, known as Indian cinema's first woman superstar, passed away in her hotel room in the Jumeirah Emirates Towers late on Saturday. 

Three days after the actress was found dead, the family was finally given custody of her body. Family members, including her filmmaker husband Boney Kapoor and stepson Arjun Kapoor, took the body from the morgue to get it embalmed before heading to Dubai airport for her final journey home. A private jet had flown to Dubai from Mumbai on Sunday, a day after her death. Dubai Media Office, the official Twitter handle of the media office of the government, said in a series of tweets that the case is now closed.

"Dubai Public Prosecution has approved the release of the body of the Indian actress Sridevi to her family following the completion of a comprehensive investigation into the circumstances of her death," it said.

"Dubai Public Prosecution stressed that all regular procedures followed in such cases have been completed. As per the forensic report, the death of the Indian actress occurred due to accidental drowning following loss of consciousness. The case has now been closed."

The actress leaves behind her husband Boney and their two daughters Jhanvi and Khushi.

The Consulate General of India in Dubai also confirmed on Twitter that Dubai Police had given permission to take the body for embalming.

Arjun Kapoor reached Dubai this morning to be with his father. "Arjun has gone to Dubai this morning to be with his father at the hotel while the formalities are being wrapped up and to oversee the return journey," said an official statement from the family in Mumbai. The Dubai Police said on its Twitter handle on Monday that Sridevi drowned in her bathtub after she lost consciousness. The case was transferred to the Dubai Public Prosecutor's office, which carried out further investigations and procedures followed in such cases, it said.

"Following the completion of post-mortem analysis, Dubai police headquarters today stated that the death of the Indian actress Sridevi occurred due to drowning in her hotel apartment's bathtub following loss of consciousness," it said.

Sridevi was in Dubai for a family wedding and had stayed back after the ceremonies. Her husband had flown back to Mumbai with their younger daughter Khushi, but returned to Dubai to surprise her, reports said.

The news of her death, first reported at around 3 a.m. IST on Sunday, sent shock waves across India.

In Mumbai, industry insiders and friends visited the family in the home of actor Anil Kapoor, Boney's younger brother. With their father away, Khushi and Jhanvi were at their uncle's Juhu home. Director Anees Bazmi, who has worked with Boney Kapoor on "No Entry", was amongst the visitors today. "It is a big shock for everyone. I have worked with the entire Kapoor family. I can't imagine what Boneyji would be going through at this point. He loved her very much. Their two daughters are so young. It is a sad situation. "I have not told the family about what the media is reporting. It is sad, unfortunate. A person like her does not deserve this," Bazmi told PTI while referring to the sensational TV coverage of the death.

The others who have called on the family in their hour of grief include Shah Rukh Khan and his wife Gauri, Rajinikanth, Kamal Haasan, Ranveer Singh, Deepika Padukone, Tabu, Rekha, Farah Khan and Javed Akhtar and Shabana Azmi. There were also huge crowds outside Sridevi's home at a Lokhandwala building.

Earlier post

Sridevi's body released to family; funeral set for Feb 28

Dubai, Feb 27: Ending speculation over Bollywood diva Sridevi's sudden death, the Dubai Public Prosecutor's Office said on Tuesday that she accidentally drowned following loss of consciousness and that her body was "released" to the family after a comprehensive probe.

Sridevi's funeral will take place on Feb. 28 late afternoon here, the family said in a statement.

In a detailed announcement, the family said that her body will be kept at Celebration Sports Club in Lokhandwala for people to pay their last respects before it is taken for cremation.

"On behalf of Khushi, Janhvi, Boney Kapoor, the entire Kapoor and Ayyappan families, a sincere thanks to the media for your continued sensitivity and support during this emotional moment," the statement read. It said that well-wishers can pay their condolences from 9.30 a.m. to 12.30 p.m. at Celebration Sports Club, Garden No 5, Lokhandwala Complex, Andheri West.

The family said that the media can also pay their respects "provided camera, recording devices etc. are left outside the venue. The last journey will commence at 2 p.m. from Celebration Sports Club to Vile Parle Seva Samaj Crematorium and Hindu Cemetery." 

The cremation will take place at around 3:30 p.m. on Wednesday. The 54-year-old actress, known as Indian cinema's first woman superstar, passed away in her hotel room in the Jumeirah Emirates Towers late on Saturday. 

Three days after the actress was found dead, the family was finally given custody of her body. Family members, including her filmmaker husband Boney Kapoor and stepson Arjun Kapoor, took the body from the morgue to get it embalmed before heading to Dubai airport for her final journey home. A private jet had flown to Dubai from Mumbai on Sunday, a day after her death. Dubai Media Office, the official Twitter handle of the media office of the government, said in a series of tweets that the case is now closed.

"Dubai Public Prosecution has approved the release of the body of the Indian actress Sridevi to her family following the completion of a comprehensive investigation into the circumstances of her death," it said.

"Dubai Public Prosecution stressed that all regular procedures followed in such cases have been completed. As per the forensic report, the death of the Indian actress occurred due to accidental drowning following loss of consciousness. The case has now been closed."

The actress leaves behind her husband Boney and their two daughters Jhanvi and Khushi.

The Consulate General of India in Dubai also confirmed on Twitter that Dubai Police had given permission to take the body for embalming.

Arjun Kapoor reached Dubai this morning to be with his father. "Arjun has gone to Dubai this morning to be with his father at the hotel while the formalities are being wrapped up and to oversee the return journey," said an official statement from the family in Mumbai. The Dubai Police said on its Twitter handle on Monday that Sridevi drowned in her bathtub after she lost consciousness. The case was transferred to the Dubai Public Prosecutor's office, which carried out further investigations and procedures followed in such cases, it said.

"Following the completion of post-mortem analysis, Dubai police headquarters today stated that the death of the Indian actress Sridevi occurred due to drowning in her hotel apartment's bathtub following loss of consciousness," it said.

Sridevi was in Dubai for a family wedding and had stayed back after the ceremonies. Her husband had flown back to Mumbai with their younger daughter Khushi, but returned to Dubai to surprise her, reports said.

The news of her death, first reported at around 3 a.m. IST on Sunday, sent shock waves across India.

In Mumbai, industry insiders and friends visited the family in the home of actor Anil Kapoor, Boney's younger brother. With their father away, Khushi and Jhanvi were at their uncle's Juhu home. Director Anees Bazmi, who has worked with Boney Kapoor on "No Entry", was amongst the visitors today. "It is a big shock for everyone. I have worked with the entire Kapoor family. I can't imagine what Boneyji would be going through at this point. He loved her very much. Their two daughters are so young. It is a sad situation. "I have not told the family about what the media is reporting. It is sad, unfortunate. A person like her does not deserve this," Bazmi told PTI while referring to the sensational TV coverage of the death.

The others who have called on the family in their hour of grief include Shah Rukh Khan and his wife Gauri, Rajinikanth, Kamal Haasan, Ranveer Singh, Deepika Padukone, Tabu, Rekha, Farah Khan and Javed Akhtar and Shabana Azmi.

There were also huge crowds outside Sridevi's home at a Lokhandwala building.

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News Network
March 6,2020

New Delhi, Mar 6: As panicky depositors rushed to withdraw money from Yes Bank whose control was seized by the RBI in a dramatic late-night move, Finance Minister Nirmala Sitharaman on Friday assured depositors that their money is safe and said the central bank was working for an early resolution of the crisis.

The Reserve Bank of India (RBI) on Thursday evening capped withdrawals at Rs 50,000 for the next one month and imposed strict limits on operations at the country's fourth-largest private lender that faced "regular outflow of liquidity" after an effort to raise new capital failed.

"I am in continuous interaction with the RBI. The RBI is fully seized of the matter and has assured they will give a quick resolution," Sitharaman said here.

She said no depositor will lose his or her money and insisted that the immediate priority is to ensure Yes Bank customers are able to withdraw money within the stipulated cap.

"I want to assure every depositor that their money shall be safe. Their monies are safe," she said. "I am constantly in contact with the RBI and the steps that are taken are taken in the interest of depositors, banks and economy. We are fully seized of the development."

She was talking to reporters after meeting State Bank of India (SBI) Chairman Rajnish Kumar. On Thursday, the SBI board gave its "in-principle" approval to exploring investment opportunities in Yes Bank.

"So I repeat, the depositors can be assured that their money is safe," she said.

Soon after the RBI takeover, depositors thronged Yes Bank ATMs to withdraw money and police had to be deployed in some places to control the crowds.

Yes Bank has 1,000 branches across the country.

Refusing to elaborate on her meeting with the SBI chairman, the minister said that "was on a completely different matter".

"RBI governor has given me assurance that there will be an appropriate resolution soon. No depositor will lose (money)," she said. "Reserve Bank has taken cognizance of the problem."

The central bank, she said, has gone through the "process over and over again to find out an amicable solution".

"And that has been over the last couple of months. So it is not as if they have come in suddenly now. We have been monitoring the situation," she said adding the RBI has appointed an administrator who previously was with the SBI.

"Both the RBI and the government are looking at this with all the details before them, not just today. I have personally monitored the situation over the last couple of months with the RBI. Therefore we have taken a course which will be in everybody's interest," she added.

Yes Bank had been seeking new capital since last year to bolster its ratios and quell questions about its stability due to its exposure to the non-banking finance industry entangled in a prolonged crunch in the local credit market.

The SBI chairman said the resolution to the Yes Bank crisis will come "very shortly".

"This is not a sectoral problem. It is a bank-specific problem," he said. "The RBI will take all steps to ensure financial stability."

On SBI picking up a stake in Yes Bank, he said the lender already has an in-principle approval for doing so.

"If SBI has to pick up a stake in Yes Bank, we have an in-principle approval for that," he said.

Commenting on the crisis at Yes Bank, Alka Anbarasu, Vice President – Senior Credit Officer, Financial Institutions, Moody's Investors Service, said: "RBI's moratorium on Yes Bank is credit negative as it affects timely repayment of bank depositors and creditors."

"While Moody's expects Indian authorities will take steps to prevent the weakness in the bank's viability from significantly impacting its depositors and senior creditors, the lack of a coordinated and timely action highlights continued uncertainty around bank resolutions in India," she said.

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Agencies
June 2,2020

Singapore, Jun 2: Moody's Investors Service on Tuesday downgraded 11 Indian banks along with as many non-financial companies and infrastructure majors besides four government-related issuers following a downgrade of the Indian government's issuer rating to Baa3 from Baa2 with a negative outlook.

The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, volatile oil prices and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets, said Moody's.

The Indian banking sector has been affected given the disruptions to India's economic activity from the coronavirus outbreak, which is weakening borrowers' credit profiles, it added.

The 11 lenders include Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, Export-Import Bank of India, HDFC Bank, Indian Overseas Bank, IndusInd Bank, Punjab National Bank, State Bank of India and Union Bank of India.

The 11 non-finance companies are Oil and Natural Gas Corporation, Hindustan Petroleum Corporation, Oil India, Indian Oil Corporation, Bharat Petroleum Corporation, Petronet LNG, Tata Consultancy Services, Infosys, Reliance Industries, UPL Corporation and Genpact.

The 11 infrastructure companies are NTPC, NHPC, National Highways Authority of India, Power Grid Corporation, Gail India, Adani Green Energy Restricted Group (RG-2), Adani Transmission Restricted Group, Adani Ports and Special Economic Zone, Adani Transmission, Adani Electricity Mumbai and Azure Power Solar Energy.

The four Indian government-related issuers are Indian Railway Finance Corporation, Housing and Urban Development Corporation, Power Finance Corporation and REC Ltd.

"Government-related issuers in India have been affected because of disruptions to India's economy which will weaken borrowers' credit profiles," said Moody's.

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News Network
February 3,2020

Bengaluru, Feb 3: India's manufacturing activity expanded at its quickest pace in nearly eight years in January with robust growth in new orders and output, a private survey showed on Monday, suggesting the economy may be getting back on firmer footing.

In response to the jump in sales, factories hired new workers at the fastest rate in more than seven years.

If sustained, the improvement in business conditions could point to a gradual economic recovery in coming months, as forecast by analysts in a Reuters poll last month, after growth slowed to a more than six-year low in the July-September quarter.

The Nikkei Manufacturing Purchasing Managers' Index , compiled by IHS Markit, jumped to 55.3 last month from 52.7 in December. It was the highest reading since February 2012 and above the 50-mark separating growth from contraction for the 30th straight month.

"The PMI results show that a notable rebound in demand boosted growth of sales, input buying, production and employment as firms focused on rebuilding their inventories and expanding their capacities in anticipation of further increases in new business," Pollyanna De Lima, principal economist at IHS Markit, said in a news release.

A new orders sub-index that tracks overall demand hit its highest level since December 2014 and output grew at its fastest pace in over seven and a half years, pushing manufacturers to hire at the strongest rate since August 2012.

Meanwhile, both input costs and output prices rose at a slower pace, indicating overall inflation may have eased after hitting a more than five year high of 7.35% in December, although probably not below the Reserve Bank of India's medium-term target of 4%.

That might keep the central bank, which cut its key interest rate by a cumulative 135 basis points last year, on the sidelines over the coming months.

"To complete the good news, there was also an uptick in business confidence as survey participants expect buoyant demand, new client wins, advertising and product diversification to boost output in the year ahead," added De Lima.

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