Plastic sector demands withdrawal of ban, claims it led to loss of 1 lakh jobs

Mangaluru, Feb 12: Mangaluru City Corporation’s (MCC) mayoral elections will be held on February 28, Urban Development Department has announced.

Yashwanth V, Regional Commissioner of Mysuru will be conducting the election in the city.

The election will be held as per the 21st term reservation roster according to which the mayoral candidate has to be a BCM ‘A’ candidate and the deputy mayoral candidate must be a woman from the general category.
 

Mumbai, Feb 8: Anil Ambani, the brother of Asia’s richest man has pleaded poverty in his dispute with three Chinese banks seeking $680 million in defaulted loans.

“The value of my investments has collapsed,” Anil Ambani said, according to a court filing by the banks in a London lawsuit.

“The current value of my shareholdings is down to approximately $82.4m and my net worth is zero after taking into account my liabilities. In summary, I do not hold any meaningful assets which can be liquidated for the purposes of these proceedings.”

The lawsuit was filed by three state-controlled Chinese banks which argue that they provided a loan of $925 million to Ambani’s Reliance Communications Ltd. in 2012 with the condition that he personally guarantee the debt. The comments were disclosed on Friday as Ambani sought to avoid depositing hundreds of millions of dollars with the court ahead of a trial.

The embattled Indian tycoon says that while he agreed to give a non-binding “personal comfort letter,” he never gave a guarantee tied to his personal assets -- an “extraordinary potential personal liability.”

The 60-year-old is the brother of Mukesh Ambani, who’s worth $56.5 billion and is the wealthiest man in Asia. Anil, on the other hand, has seen his personal fortune dwindle over recent years, losing his billionaire status. His Reliance Communications filed for bankruptcy last year.

The banks asked Judge David Waksman to force Ambani to put up $656 million into the court’s account.

Representatives for Ambani’s Reliance Group said they couldn’t immediately comment. They said the group will issue a statement once the court issues the final order.

Ambani’s lawyer, Robert Howe, said the court shouldn’t order his client to make a payment he can’t make. The tycoon argues that an order requiring him to do so would hinder his ability to defend himself in the case, Howe said.

“There’s no evidence of some giant pot of gold that he can pull $1 million, let alone $10 million, let alone $100 million,” Howe said.

Bankim Thanki, an attorney representing Industrial & Commercial Bank of China Ltd., China Development Bank and the Export-Import Bank of China, said in a filing that Ambani’s statements are “plainly a yet further opportunistic attempt to evade his financial obligations to the lenders.”

Ambani was caught up in another legal wrangle last year when India’s Supreme Court threatened him with prison after Reliance Communications failed to pay Rs 5.5 billion ($77 million) to Ericsson AB’s Indian unit. The judges gave him a month to find the funds, and his brother, Mukesh, stepped in just in time to make the payment.

Anil said in a filing that he recognized that the judge would want to know if he could satisfy any order to put up funds from outside resources, including his family.

“I can confirm that I have made enquiries but I am unable to raise any finance from external sources,” he said. Judge Waksman had said in an earlier ruling that he believed Ambani’s defence would be shown to be “opportunistic and false.”

Ambani’s lawyer told the judge that as a result of the comments the tycoon’s relatives were unlikely to lend any funds.

There is a “very substantial risk they will never get it back,” Howe said.

Istanbul: Mosques in Turkey reopened on Friday for mass prayers after more than two months as the government further eased strict restrictions to stop the spread of the new coronavirus.

Turkey has been shifting since May to a "new normal" by easing lockdown measures and opening shopping malls, barbershops and hair salons.

President Recep Tayyip Erdogan has said many other sites -- restaurants and cafes as well as libraries, parks and beaches -- will reopen from Monday.

Hundreds of worshippers wearing protective masks performed mass prayers outside Istanbul's historic Blue Mosque for the first time since mosques were shut down in March.

In the Ottoman-era Fatih mosque, worshippers prayed both inside and outside, with the municipality handing out disinfectants and disposable carpets.

"I have waited a lot for this, I have prayed a lot. I can say it's like a new birth, thanks to God, he has brought us back here," he said.

Another worshipper, Asum Tekif, 50, said: "It has a been a long time... we missed the mosques."

Turkey, a country of 83 million, has so far recorded 4,489 coronavirus-related deaths and 162,120 confirmed cases.

Prayers in Hagia Sophia

Muslim clerics on Friday recited prayers in the Hagia Sophia, the world famous Istanbul landmark which is now a museum after serving as a church and a mosque.

The prayers were held to celebrate the anniversary of the conquest of Constantinople, today's Istanbul, by the Ottomans in 1453.

"It is very important to commemorate the 567th anniversary of the conquest ... through prayers in the Hagia Sophia," said President Recep Tayyip Erdogan, who attended the ceremony via videoconference.

The stunning edifice was first built as a church in the sixth century under the Byzantine Empire as the centrepiece of its capital Constantinople.

After the Ottoman conquest, it was converted into a mosque before being turned into a museum during the rule of Mustafa Kemal Ataturk, the founder of modern Turkey, in the 1930s.

But there have been hints about reconverting the Hagia Sophia into a mosque. Last year, Erdogan himself mooted the possibility of turning Hagia Sofia museum into a mosque.

Such calls have sparked anger among Christians and raised tensions with neighbouring Greece.

In 2015, a Muslim cleric recited the Koran in the Hagia Sophia for the first time in 85 years to mark the opening of an exhibition.

After Friday prayers at the Blue Mosque, a small group of Muslim worshippers shouted: "Let the chains break and let the Hagia Sophia open".

The group was later dispersed by the police who stopped them from protesting near Hagia Sophia that sits immediately opposite the Blue Mosque.