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Tranche-I of sea erosion project to be completed by June 2016 in Ullal: Port Minister

[email protected] (CD Network)
January 25, 2015

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Mangaluru, Jan 25: Minister for Textiles, Ports and Inland Transport Baburao Chinchanasur said that all the tranches of ADB-funded project to prevent sea erosion would be completed in Ullal region of Dakshina Kannada by June 2016.

Addressing mediapersons at a press conference here on Saturday, he said that the first tranche of the project that includes construction of four inshore berms and two offshore reefs along with breakwaters, out of which the construction of the first inshore berm and breakwater was already underway. Two inshore berms, one offshore reef and breakwater are expected to be completed before the onset of monsoons this year, he assured.

According to the information provided by the minister, the construction work of four inshore berms at an estimated cost of Rs 25.21 crore had been handed over to RDS Projects Limited, Cochin and an expenditure of Rs 16.12 had been incurred so far. The construction work of two offshore reefs at an estimated cost of Rs 110 crore had been handed to Dharthi Dredging and Infrastructure Limited, Hyderbad and the cost incurred so far was Rs 28.52 crore. The reconstruction of breakwaters had been handed over to R B Chavan- Arjun Earth Movers, Mumbai through the tender process at an estimated cost of Rs 40.91 crore.

He said that the loan negotiations with ADB for the second tranche of the project would be done in October 2015.

In the second tranche, a total of 11 places had been identified along the coastline of Dakshina Kannada, Udupi and Uttar Kannada districts with the purpose of implementing a stable shore and preserving it, including Someshwara, Yermal Thenka, Udyavara, Kodi Bengre, Kodi Kanyana, Gangolli, Maruvanthe, Madikal, Shiroor, Murudeshwar and Pavinakurve, he said.

Mr Chinchansoor said that the state government intended to develop and modernise 12 minor ports along the coastline by offering the land to private companies on a lease basis under the Karnataka State Port Development Policy (KSPD) 2014, which would be a profitable venture for the state government.

On setting up of a Maritime Board for Mangaluru, he said that the proposal was still pending for approval before the President.

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Agencies
July 25,2020

New Delhi, Jul 25: Nearly a year after Cafe Coffee Day founder V.G. Siddhartha's death, the probe committee appointed by the Board of Coffee Day Enterprises Ltd (CDEL) has given a virtual clean chit to private equity investors and the Income Tax Department who were named in his last letter.
The investigation report noted that Siddhartha may have felt "aversive behavioural stimulus" due to persistent reminders from the PE investors and other lenders.

"However, such reminders and follow-ups by the PE investors and lenders are not something which are beyond normal industry practices and we believe that PE investors were acting as per accepted legal and business norms," said that report.

It further said that the investigators were not provided with any documentary evidence to show any "advertent or inadvertent harassment" from the Income Tax Department.

It however, said that the financial records suggest a serious liquidity crunch which may have arisen due to the attachment of Mindtree shares by the IT Department.

Further, the probe revealed that MACEL, a private firm of Siddhartha, owes Rs 2,693 crore to Coffee Day Enterprises, which the report says, "needs to be addressed".

The Cafe Coffee Day founder's body was fished out of the Netravathi river in Karnataka by a group of fishermen on July 31 last year, a day after he went missing.

His last note raised several questions about the role of investors, and tax officials.

He had written: "Tremendous pressure from other lenders lead to me succumbing to the situation. There was a lot of harassment from the previous DG Income Tax in the form of attaching our shares on two separate occasions to block our Mindtree deal and then taking possession of our Coffee Day shares, although the revised returns have been filed by us. This was very unfair and has led to a serious liquidity crunch."

The massive shock to the industry and the country also led the government to assure that tax officials would not harass businessmen and the situation would improve.

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News Network
March 12,2020

Bengaluru, Mar 12: The Karnataka government on Wednesday clarified that no coronavirus "emergency" has been declared in the state and that all the schools and offices will remain open.

Earlier, there were fake reports that Karnataka has declared "coronavirus as an epidemic" in the state.

In a statement, Karnataka health commissioner Pankaj Kumar Pandey refuted the reports doing rounds on social media which said Karnataka had declared COVID-19 as a "state epidemic".

Refuting the rumours, he added that all the schools, offices and other institutions will continue to function normally in the state.

The Karnataka government earlier today issued temporary regulation which asked all government and private hospitals to have flu corners for screening of suspected cases of COVID-19.

According to the regulation, no person/institution shall use print or electronic media to spread mis-information on COVID-19 without prior permission of the department of health & family welfare. If a person is found indulging in any such activity, they will be punished, it said.

The Karnataka government also started a campaign called 'Namaste over Handshake' that encourages people to greet in the traditional Indian style, to tackle the spread of the virus.

The state has reported four positive cases of coronavirus so far.

India, so far, has 60 confirmed cases of coronavirus, including 16 Italians tourists.

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News Network
January 11,2020

Bengaluru, Jan 11: India’s second-biggest IT company, Infosys Ltd, said it found no evidence of financial misconduct by its executives following a investigation into whistleblower complaints.

Bengaluru-headquartered Infosys, which earlier on Friday raised its revenue forecasts due to upbeat demand from Western clients, said an audit committee report exonerated Chief Executive Officer Salil Parekh and Chief Financial Officer Nilanjan Roy of all allegations, including accusations that the duo prevented employees from presenting data on large deals.

“I’m very happy that CEO Salil Parekh and CFO Nilanjan Roy have emerged from this stronger,” Infosys Chairman Nandan Nilekani told reporters. “The last two years since Salil has been here the company has changed dramatically for the better.”

Parekh took over as Infosys CEO in January 2018, after his predecessor Vishal Sikka quit following a public row with the company’s founder executives amid whistleblower allegations of wrongdoing.

The company earlier said it expected revenue to grow between 10 per cent and 10.5 per cent on a constant currency basis in the year ending March 2020, compared with its previous forecast of between 9 per cent and 10 per cent.

“We continue to see momentum in the market and we have an extremely robust pipeline driven by segment leaders,” CEO Parekh told a news conference.

“With the strength of large deal wins and digital momentum, we were able to clearly see that we have support to raise our guidance.”

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