Sensex crashes over 1,200 points; investors lose over Rs 3 lakh cr

August 24, 2015

Mumbai, Aug 24: In a stock market bloodbath, benchmark Sensex today crashed over 1,200 points -- biggest in over seven years -- amid a global rout, while more than Rs 3 lakh crore got wiped out of the investors' wealth.sensex crash

The BSE 30-share index was trading 1,205.7 points down at 26,160.37, while the broader Nifty index of NSE was down 353.35 points at 7,946.60.

The overall investors' wealth, measured in terms of total valuation of all listed stocks, was also down nearly Rs 3.5 lakh crore as it crashed below Rs 100-lakh crore mark and stood at Rs 97,64,237 crore in early afternoon trade.

The loss suffered by the 10 biggest companies in terms of market capitalisation was itself close to Rs 2 lakh crore.

This is the biggest crash in seven and a half years and the third biggest ever for the BSE benchmark index.

Interestingly, eight out of the top-10 intra-day falls took place in the year 2008. Today's fall is biggest since January 21, 2008 when the Sensex crashed by 2,062.2 points.

The market was witnessing all-round heavy selling across realty, power, oil&gas, bankex, auto, metal, capital goods and IT sectors.

The 50-unit Nifty fell below the psychological 8,000-mark, while Sensex was seen moving close to 26,000.

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News Network
March 10,2020

New Delhi, Mar 10: Minutes after Jyotiraditya Scindia submitted his resignation to the party membership to Congress chief Sonia Gandhi, the Congress expelled him for anti-party activities after reports emerged that he had met PM Modi and Amit Shah.

Disgruntled Congress leader Jyotiraditya Scindia met Prime Minister Narendra Modi on Tuesday amid indications that he might join hands with the BJP to topple the Madhya Pradesh government.

Sources said Scindia first met Union Home Minister Amit Shah, and then the two leaders met Modi at the prime minister's residence.

Legislators loyal to Scindia, who has been upset with the Congress leadership with his marginalisation in the affairs of the Madhya Pradesh Congress, are likely to quit the party to reduce the Kamal Nath-led government to a minority.

It is likely to be followed by the Bharatiya Janata Party staking claim to form the government in the state.

The Congress President has approved the expulsion of Jyotiraditya Scindia from the Indian National Congress with immediate effect for "anti-party activities," said KC Venugopal, General Secretary Congress.

No person is, nor will be greater than the party: Congress youth wing chief

Indian Youth Congress (IYC) chief Srinivas B V on Tuesday slammed Jyotiraditya Scindia, who has announced his resignation from the primary membership of the Congress, and thanked party chief Sonia Gandhi for expelling the former Guna MP "who was promoting anti-party activities and factionalism".

"The history of 1857 and 1967 was once again repeated," Srinivas B V said, referring to the 1857 Revolt against East India Company and the role of the Scindia royals back then as well as Vijayaraje Scindia's switch from the Congress to the Jana Sangh in 1967.

"I would like to thank Congress president Sonia Gandhiji for taking the strong steps to expel the leader who was promoting anti-party activities and factionalism," the IYC chief said.

"No person is, nor will be greater than the party," he added.

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Agencies
February 20,2020

New Delhi, Feb 20: Hitting out at the Bharatiya Janata Party (BJP), Congress leader Sachin Sawant on Thursday said that the same BJP who tried to pressurise government lawyers so that the accused in the Malegaon bomb blast case, Samjhauta express case can be let off are now demanding that there should be a re-investigation in the 26/11 terror attacks, this is the biggest irony.

"By demanding that the case be re-investigated the BJP which gave a ticket to Pragya Thakur who was accused in the Malegaon blast case, has insulted all those brave police, the army who fought bravely. BJP should apologise to all those people," he said.

"If the BJP were serious about re-investigating the case why didn't they do it when they were in power in the state and the Centre? Was the government sleeping for the last five years? asked Maharashtra Congress committee's general secretary, Sachin Sawant.

"Rather than this, the BJP should ask for a fair inquiry in the incident where a Kashmir police officer Davindar Singh was caught in the company of terrorists and also, the role of the Sangh Parivar in the Malegaon Blasts," said Sawant.

Sawant said that BJP has crossed all limits while lying and it has stooped to the lowest levels of political discourse and is not thinking twice before defaming the Opposition.

In the book written by the retired police officer Rakesh Maria doesn't have anything other than what was there in the charge sheet on Ajmal Kasab. In his confession, Kasab has said that he was given an ID card with a Hindu name and also a red coloured thread by the Lashkar-e-taiba.

Because of this forged identity, they would be able to dodge the police. All these details have been clearly mentioned in the Kasab's confession.

Maria has mentioned in his book that if Kasab was not caught alive, the media would have declared him as a Hindu. Maria hasn't said that there was any kind of government pressure or any other conspiracy behind it. He was only talking about the media and also given all the details in the charge sheet. The BJP is only using this as a political tool in their low-class politics.

The leader added that, "The letter written by BJP MLA Atul Bhatkhalkar to CM Uddhav Thackeray has crossed all limits of lying. The Congress government in Maharashtra had formed a committee under retired home secretary Ram Pradhan to probe the 26/11 attack."

On the basis of an interview given by Ram Pradhan to a national daily on the 10th anniversary of the 26/11, he has levelled baseless allegations on former Central Home minister P Chidambaram, he added.

Bhatkhalkar in his letter has said that Chidambaram had asked Ram Pradhan to not to disclose the local connection that was found in the conspiracy. In fact, there is no such mention in the interview given by Ram Pradhan. Pradhan has said in the interview that Chidambaram wanted to see the report. Hence along with the report, some sensitive information was sent to the department separately and those were overlooked. After some time news related to David Headley had surfaced.

Ram Pradhan committee was not set up by the Centre but was set up by the state government and so it was not mandatory for the Centre to inform Ram Pradhan whether cognisance was taken regarding the sensitive information.

"In was during the Congress government that the first terrorist was caught alive due to the bravery of the police force and after following all the due procedures a verdict to hang him was given," said Sawant..

"Everyone has appreciated India's legal system in which even a terrorist was allowed to give his side," he added.

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News Network
August 8,2020

The Kozhikode International Airport located at Karipur is not safe for the landing of flights in rainy season, according to an air-safety expert, who had warned the aviation ministry and the civil aviation regulator about this in 2011. 

The warning was particularly about the dangers of permitting passenger aircraft to land on runway 10 of the airport during rains and unfavourable wind conditions. 

Nine years later, on August 7, 2020, the warning became a reality when an Air India Express pilots landed in tailwind conditions and the aircraft overshot the tabletop runway to drop off the end and crash.

 “An aircraft landing on runway 10 in tailwind will experience poor braking action due to heavy rubber deposits … All such flights … are endangering the lives of all on board,’’ said Capt Mohan Ranganathan, in a letter sent on June 17, 2011 to then director general of civil aviation Bharat Bhushan and Nasim Zaidi, chairman of a civil aviation safety advisory committee, which was formed after the May 2010 Mangaluru air crash which killed 158 people.

“My warning issued after the Mangaluru crash was ignored. It is a table-top runway with a down slope. The buffer zone at the end of the runway is inadequate,” Capt Ranganathan said. Given the topography, he pointed out, the airport should have a buffer of 240m at the end of the runway, but it only has 90m (which the DGCA had approved). “Moreover, the space on either side of the runway is only 75m instead of the mandatory 100m,” he added.

Capt Ranganathan said there is no guideline for operations on a table-top runway when it is raining. “Runway 10 approach should not be permitted in view of the lack of runway end safety area (RESA) and the terrain beyond the end of the runway. RESA of 240m should be immediately introduced and runway length has to be reduced to make the operations safe,” his letter said.

If an aircraft is unable to stop within the runway, there is no RESA beyond the end. The ILS localiser antenna is housed on a concrete structure and the area beyond is a steep slope. “The Air India Express accident in Mangalore should have alerted AAI to make the runway conditions safe. We have brought up the issue of RESA during the initial Casac-sub group meetings. We had specifically mentioned that the declared distances for both runways have to be reduced in order to comply with ICAO Annex 14 requirement,” Capt Ranganathan said.

He said the condition of the runway strip was known to DGCA teams that have been conducting inspection and safety assessments. “Have they considered the danger involved? Did the DGCA or the airlines lay down any operational restrictions or special procedures?”

The letter also refers to Approach and Landing Accident Reduction (ALAR) training, which is supposed to be mandatory before every monsoon, but airlines don’t follow it, he said. “70% of accidents take place during approach and landing and that is why this training is essential,” he added.

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