Vijay Mallya declared 'fugitive economic offender'

Agencies
January 5, 2019

Mumbai, Jan 5: A special court in Mumbai on Saturday declared absconding liquor baron Vijay Mallya a fugitive economic offender (FEO) on a plea of the Enforcement Directorate.

Mallya has become the first businessman to be declared EFO under the provisions of the new Fugitive Economic Offenders Act which came into existence in August last year.

The ED had requested the Prevention of Money Laundering Act (PMLA) court that Mallya, who is currently in the UK, be declared a fugitive and his properties be confiscated and brought under the control of the Union government as per the provisions of the new FEO Act.

Special judge MS Azmi declared Mallya an FEO under Section 12 of the Act after hearing extensive arguments from the lawyer of Mallya and the ED counsel.

Mallya, accused of defaulting on loan repayments and money laundering, had left India in March 2016.

More details to follow...

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News Network
June 13,2020

Jun 13: Requiring the wearing of masks to prevent the spread of the novel coronavirus in areas at the epicenter of the global pandemic may have prevented tens of thousands of infections, a new study suggests.

Mask-wearing is even more important for preventing the virus' spread and the sometimes deadly COVID-19 illness it causes than social distancing and stay-at-home orders, researchers said, in the study published in PNAS: The Proceedings of the National Academy of Sciences of the USA.

Infection trends shifted dramatically when mask-wearing rules were implemented on April 6 in northern Italy and April 17 in New York City - at the time among the hardest hit areas of the world by the health crisis - the study found.

"This protective measure alone significantly reduced the number of infections, that is, by over 78,000 in Italy from April 6 to May 9 and over 66,000 in New York City from April 17 to May 9," researchers calculated.

When mask-wearing went into effect in New York, the daily new infection rate fell by about 3% per day, researchers said. In the rest of the country, daily new infections continued to increase.

Direct contact precautions - social distancing, quarantine and isolation, and hand sanitizing - were all in place before mask-wearing rules went into effect in Italy and New York City. But they only help minimize virus transmission by direct contact, while face covering helps prevent airborne transmission, the researchers say.

"The unique function of face covering to block atomization and inhalation of virus-bearing aerosols accounts for the significantly reduced infections," they said. That would indicate "that airborne transmission of COVID-19 represents the dominant route for infection."

The U.S. Center for Disease Control and Prevention on Friday urged organizers of large gatherings that involve "shouting, chanting or singing to strongly encourage the use of cloth face coverings to lower the risk of spreading the coronavirus."

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News Network
April 22,2020

Thiruvananthapuram, Apr 22: Eleven more people tested positive for COVID-19 in Kerala with totalpositive cases in the State touching 437on Wednesday.

Two house surgeonsof the Kozhikode Medical college are among those who have tested positive for the virus.

The two had travelled outside the state,Chief Minister Pinarayi Vijayan told reporters.

Kannur reported seven cases, Kozhikode two, while one case each was reported from the districts of Kottayam and Malappuram.

Only one person tested negative.

The state has 127 active cases and 29,000 people are under observation, including 346 in hospitals.

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Agencies
June 14,2020

New Delhi, Jun 14: Petrol price on Sunday was hiked by a record 62 paise per litre and that of diesel by 64 paise as oil companies for the eighth day in a row adjusted retail rates in line with cost since ending an 82-day hiatus in rate revision.

Petrol price in Delhi was hiked to Rs 75.78 per litre from Rs 75.16 while diesel rates were increased to Rs 74.03 a litre from Rs 73.39, according to a price notification of state oil marketing companies.

Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.

The 62 paise a litre increase in petrol and 64 paise hike in diesel price is the highest surge in rates since the daily price revision was started in June 2017.

This is the eighth daily increase in rates in a row since oil companies on June 7 restarted revising prices in line with costs, after ending an 82-day hiatus.

In eight hikes, petrol price has gone up by Rs 4.52 per litre and diesel by Rs 4.64 -- a record increase in rates in any eight days since the daily price revision was introduced.

The freeze in rates was imposed in mid-March soon after the government hiked excise duty on petrol and diesel to shore up additional finances.

Oil PSUs Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL), instead of passing on the excise duty hikes to customers, adjusted them against the fall in the retail rates that was warranted because of international oil prices falling to two-decade lows.

The government had first raised excise duty on petrol and diesel by Rs 3 per litre each on March 14 and then again on May 5 by a record Rs 10 per litre in case of petrol and Rs 13 on diesel. The two hikes gave the government Rs 2 lakh crore in additional tax revenues.

State-owned fuel retailers IOC, BPCL and HPCL had frozen petrol and diesel prices since March 16, as if anticipating the government move and set off gains they accrued from continuing drop in international oil prices against the excise duty hike.

They, however, promptly passed the increase in local sales tax or VAT by state governments such as Rs 1.67 increase in VAT on petrol and Rs 7.10 in diesel by the Delhi government on May 4.

The total incidence of excise duty on petrol has risen to Rs 32.98 per litre and that on diesel to Rs 31.83. The excise tax on petrol was Rs 9.48 per litre when the Narendra Modi government took office in 2014 and that on diesel was Rs 3.56 a litre.

The government had between November 2014 and January 2016 raised excise duty on petrol and diesel on nine occasions to take away gains arising from plummeting global oil prices.

In all, duty on petrol rate was hiked by Rs 11.77 per litre and that on diesel by 13.47 a litre in those 15 months that helped government's excise mop up more than double to Rs 2,42,000 crore in 2016-17 from Rs 99,000 crore in 2014-15.

It cut excise duty by Rs 2 in October 2017 and by Rs 1.50 a year later. But it raised excise duty by Rs 2 per litre in July 2019.

It again raised excise duty on March 14 by Rs 3 per litre.

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