Special court allows banks to liquidate Vijay Mallya's seized assets

News Network
January 1, 2020

New Delhi, Jan 1: Prevention of Money Laundering Act (PMLA) court in Mumbai has allowed banks that lent money to embattled liquor tycoon Vijay Mallya to utilize seized assets, news agency reported today quoting sources from the Enforcement Directorate (ED). The court also said all parties affected by the order can appeal at the Bombay High Court till January 18.

Last month, a consortium of Indian banks petitioned a London court for ex-billionaire Vijay Mallya to be declared bankrupt over ₹9,000 crore in unpaid debts. It comes as Mallya, who founded the now defunct Kingfisher Airlines Ltd, faces extradition to his home country of India.

Mallya had fled India in March 2016 and has been living in the United Kingdom since then. The 64-year-old former Kingfisher Airlines is fighting extradition to India in relation of fraud and money laundering allegations arising out of the debt acquired from the banks.

Mallya remains on bail pending the UK High Court appeal hearing in the extradition proceedings brought by India in relation to fraud and money laundering charges amounting to ₹9,000 crores. He had been arrested on an extradition warrant back in April 2017 and has been fighting his extradition in the UK courts since then.

He was granted permission to appeal against his extradition order, which is scheduled in the Royal Courts of Justice in London for February.

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News Network
May 22,2020

Bengaluru, May 22: Amazon.com Inc’s India unit said it would hire 50,000 temporary workers to meet a surge in online shopping in the country, where customers have been stuck indoors for two months in a lockdown to fight the coronavirus outbreak.

E-commerce firms faced massive disruption in the initial days of the lockdown in India, but a slow easing of the stringent regulations has allowed them to resume large parts of their operations.

"We want to continue helping customers all over India get everything they need so they can continue to practice social distancing," Amazon senior executive Akhil Saxena said in a statement on the company's blog. (bit.ly/2A1Wv7O)

“(The move) will also keep as many people as possible working during this pandemic while providing a safe work environment for them,” said Saxena, Amazon’s VP for customer fulfillment operations in APAC, MENA & Latam.

The temporary hires will work in Amazon’s fulfillment centers and as part of its delivery network, the company said, making the announcement at a time when various other companies in the country have been forced to cut jobs as they try to tide over the health crisis.

Amazon itself has pushed its annual global Prime Day event, traditionally a summer affair, to September, the Wall Street Journal reported on Thursday.

In India, where the Jeff Bezos-led company faces stiff competition from Walmart Inc’s Flipkart, Amazon earlier said it plans to create 1 million jobs by 2025.

The company also said on Thursday it plans to enter the food delivery business in India, pitting itself against well-established startups such as Swiggy and Zomato.

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News Network
May 3,2020

New Delhi, May 3: Union Health and Family Welfare Minister Dr Harsh Vardhan on Sunday said that India's COVID-19 mortality rate of 3.2 per cent is the lowest in the world and over 10,000 coronavirus patients have been discharged from hospitals after recovering from the disease so far.

"Today more than 10,000 COVID-19 patients have been discharged. Those still admitted at hospitals are on the road to recovery. If in last 14 days doubling rate was 10.5 days, then today it is around 12 days," the Minister told ANI after visiting Lady Hardinge Hospital.

"Our mortality rate of 3.2 per cent is the lowest in the world," he said.

With 2,644 more COVID-19 cases and 83 deaths in the last 24 hours, the number of people infected from coronavirus in the country has reached 39,980 including 1,301 deaths, said the Union Ministry of Health and Family Welfare on Sunday.

Currently, there are 28,046 active cases while 10,633 COVID-19 positive patients have been cured/discharged.

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News Network
March 19,2020

Mar 19: Amidst spiralling cases of COVID-19 in the country, Union Minister of State for Health and Family Welfare Ashwini Kumar Choubey on Thursday advocated "absorbing sunlight" as a possible precaution against coronavirus that has claimed over 8,000 lives globally.

Speaking to reporters outside parliament, Choubey said 10-15 minutes in the sun would build immunity as sunlight provides Vitamin D.

"From 11 am to 2 pm the sun is shining brightly. We should spend at least 10-15 minutes to absorb sunlight so that we get vitamin D which improves the immunity of our body and also kills such viruses. All should be aware of (this fact)," he said when asked about the spread of coronavirus.

COVID-19 cases in India climbed to 169 on Thursday after 18 fresh cases were reported from various parts of the country, according to the Union health ministry.

The cases include 25 foreign nationals -- 17 from Italy, 3 from the Philippines, two from the UK, one each belonging to Canada, Indonesia and Singapore.

The figure also includes three deaths reported from Delhi, Karnataka and Maharashtra so far.

According to the World Health Organisation, the novel coronavirus has killed over 8,000 people globally and infected more than two lakh.

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