Two buildings collapse in Noida: 9 killed, landowner 3 others arrested

Agencies
July 19, 2018

Noida, Jul 19: The death toll has risen to nine and several are feared trapped under the rubble of two adjacent buildings which collapsed in Greater Noida on the outskirts of the National Capital.

Rescue teams at the site discovered the ninth body early on Thursday.

A six-floor under-construction building crashed on a five-storey building next to it, bringing it down as well, in Shahberi village under Bisrakh police station on Wednesday night.

Officials said at least one of the buildings was unauthorised.

At least 12 labourers were in the under-construction building and all of them were feared trapped, Chief Fire Officer (CFO) Arun Kumar Singh said.

Two bodies were pulled out of the rubble late Wednesday night and another removed Thursday morning as 150 personnel as the National Disaster Response Force (NDRF) mounted a rescue operation along with the police and the fire department.

Five more bodies were brought out in the evening and later at night.

Rescuers deployed heavy machinery to shift concrete slabs and used drills in a bid to reach people buried under the debris. Sniffer dogs tried to detect any sign of life.

A crowd of people hung around the mishap site, including some who believed their relatives were trapped under the debris.

Some flat owners who were planning to move into their new homes in the next few days also watched the rescue effort.

Local politicians and media teams thronged the area as NDRF personnel asked people to keep away.

Three of the victims have been identified as Ranjit, Shamshad and Priyanka. Three members of Priyanka's family were still trapped, Singh said after her body was pulled out.

The police have arrested four people, including the landowner. Altogether, 24 people have been named in the FIR. Charges include culpable homicide not amounting to murder.

Officer on Special Duty (OSD) in Greater Noida Development Authoriity, Vibha Chahal, has been removed from her post.

Uttar Pradesh chief minister Yogi Aditya Nath also ordered the suspension of two other officials, project manager VP Singh and assistant project manager Akhtar Abbas Zaidi, for dereliction of duty.

Adityanath asked the Meerut divisional commissioner to conduct an inquiry and determine the extent of illegal construction in the area.

Earlier in the day, Gautam Budh Nagar District Magistrate Brajesh Narayan Singh had also ordered an investigation into the mishap, to be completed within 15 days.

"They have tried to sell an unauthorised construction to the people. We will initiate proceedings under the National Security Act against them," Singh told PTI.

NDRF director general Sanjay Kumar took stock of the rescue operations.

He said the rescuers were exercising caution while operating the machines so that those trapped under the debris were not harmed. This was leading to the delay, he said.

Kumar said the rescue operations were likely to be completed on Thursday.

A state government statement said a magisterial probe will find out whether the buildings were under the jurisdiction of the Greater Noida Development Authority and if a no-objection certificate (NOC) was obtained before carrying out the construction.

It will also determine if the quality of the building material was up to the mark and the construction workers were registered in accordance with the labour laws.

In a press statement, the Greater Noida authority CEO Parth Sarthi Sen Sharma said Shahberi is a "notified village" under phase-1 of Greater Noida.

But the notification related to acquisition of land there was cancelled by a Supreme Court order in May 2011, he said.

Local residents claimed that some builders had purchased land directly from the farmers and developed an unauthorised colony.

According to the FIR lodged at Bisrakha police station, poor quality material was used in the construction of the building.

The FIR said district authorities had been warning builders and contractors in general against unauthorised construction.

Three of those arrested have been identified as landowner Ganga Shankar Dwivedi and brokers Dinesh Singh and Sanjeev Kumar, both residents of Shahberi.

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News Networkwork
May 14,2020

Bengaluru, May 14: ABB India has posted a profit after tax of Rs 66 crore during the first quarter (January to March) due to lower volumes including service revenue and unfavourable mix.

In Q1 CY19, it had reported a profit after tax of Rs 89 crore. ABB India follows calendar year as its fiscal year.

The company reported a profit including exceptional items and before tax of Rs 87 crore. The resultant under-absorption and mark-to-market impact due to forex volatility were partly offset by refund incomes and a one-time gain on sale of solar business during the quarter.

Revenues for the first quarter stood at Rs 1,522 crore, impacted by lower sales, non-receipt of delivery clearance, lower service revenue in the nationwide lockdown due to the COVID-19 pandemic. This impact primarily occurred in March, the company said in a statement.

ABB India said it continues to maintain a stable cash position of Rs 1,464 crore as on March 31 in a market where cash collection continues to be a challenge.

Besides, despite many activities coming to a standstill in March, the quarter was marked by commissioning for a mining major at Raigarh in Chhattisgarh, electrical and automation systems for a cement major and port and electrics, drives and automation for a leading mill in Bangladesh.

Terminal installation and commissioning for LPG, power management electrical control system for a leading refinery and commissioning of two units of a power plant in Kerala are some of the other projects where ABB's involvement ensured continuity and safe operations, it said.

On a global scale, the impact of COVID-19, as well as the fall in oil prices, has significantly impacted the short-term outlook. The global economy is expected to contract in 2020 after a rapid deterioration in outlook driven by the pandemic.

Despite unprecedented stimuli by governments and central banks around the world and initial signs of recovering economic activity in China, macro-indicators point to a global recession of uncertain duration as many countries continue to face restrictions with anticipated long-term economic consequences, said ABB India.

While the company is taking prompt action to adapt its operations and cost base to safeguard profitability, it expects the results in the coming quarter to be impacted due to the loss of volumes.

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Agencies
January 19,2020

Thiruvananthapuram, Jan 19: The CPI(M) will soon launch a nation-wide house-to-house campaign to explain to the people, the 'link' between CAA-NPR-NRC, party general secretary, Sitaram Yechury said on Sunday.

The intense campaign will take place all over the country, he said while briefing the media about the three-day central committee held at Vilapilsala near here.

The central committee also urged the people not to answer the NPR questions.

"The Central committee has called upon the people not to answer any questions concerning the NPR when the enumerators come to their houses...," the left leader said.

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Agencies
March 15,2020

Financially troubled Yes Bank on Saturday reported a standalone net loss of ₹ 18,560.31 crore for the third quarter of the financial year 2019-20. This is amongst the biggest losses reported by the India Inc.

At present, the private lender is under a moratorium and is controlled by the office of the administrator appointed by the RBI.

The bank had reported a net profit of ₹1,001.85 crore during the corresponding period of the previous financial year.

Besides, the bank's total income fell to Rs 6,268.50 crore from Rs 8,849.81 crore earned during the October-December quarter of the previous fiscal.

On consolidated basis, Yes Bank reported a net loss of ₹18,564.24 crore for the December quarter from a net profit of Rs 1,000.57 crore in the corresponding period of the previous fiscal.

The independent auditor's review report on the consolidated results pointed out that there is a "material uncertainty related to going concern" of the bank.

"The said assumption of going concern is dependent upon the degree of success of the final reconstruction scheme, the quantum of capital infused into the bank and the bank's ability to stabalise its deposit balances post withdrawal of the moratorium by the RBI. Our conclusion is not modified in respect of this matter," the auditor said.

Furthermore, the bank recognised additional loans of ₹ 5,150.2 crore as NPAs and related provisioning requirements of ₹772.5 crore for the quarter ended December 31, 2019.

The bank has recognised an additional provisions of ₹15,422.0 crore in the quarter ended December 31, 2019.

Last week, the RBI placed Yes Bank under moratorium and capped the withdrawal limit at ₹50,000 till next Wednesday.

Additionally, the central bank also superseded Yes Bank's board of directors and appointed former SBI CFO Prashant Kumar as its administrator.

Meanwhile, Kumar has been appointed as the new Chief Executive Officer of the financially troubled lender. He will take over his new responsibilities once the moratorium on the stressed lender is lifted on Wednesday.

Apart from Kumar, Sunil Mehta, former non-executive Chairman of Punjab National Bank, will take over as the non-executive Chairman of Yes Bank.

Other board members include Mahesh Krishnamurthy and Atul Bheda, both as non-executive Directors.

Additionally, six private lenders have joined the SBI to rescue Yes Bank with Federal Bank committing ₹300 crore by subscribing to 30 crore shares of ₹2 each at a premium of ₹8 per equity share.

The six private lenders have now committed an investment of ₹3,700 crore in the cash-strapped private sector bank.

On Friday, ICICI Bank and Housing Development Finance Corporation (HDFC) Ltd had announced that they will be investing ₹1,000 crore each in Yes Bank's equity. Axis Bank and Kotak Mahindra Bank will be investing ₹ 600 crore and ₹500 crore, respectively, while Bandhan Bank will invest ₹300 crore.

The SBI board has already approved up to 49 per cent stake purchase in Yes Bank, as per the RBI's reconstruction scheme for the lender. It had said on Thursday that an investment of ₹7,250 crore would be made in Yes Bank to pick up₹ 725 crore equity shares.

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