Yakub's body handed over to family, tight security in Mumbai

July 30, 2015

Nagpur/Mumbai, Jul 30: The body of Yakub Memon, who was hanged in Nagpur this morning for his role in the 1993 Mumbai serial bomb blasts, was handed over to his family which flew it to Mumbai for last rites amid tight security with city police disallowing any procession.

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Security has been stepped up in Mumbai, especially in Mahim area where Yakub's family resides as well as other sensitive localities of the metropolis, and over 400 people have been detained as a preventive measure.

Quick Response Teams of police, formed after the 26/11 terrorist attacks, have been deployed at a few places, including the Al Hussaini building where the Memon family lives and in Marine Lines, where the burial arrangements have been made.

"Yes Yakub Memon has been hanged at 7 AM sharp and his body is being handed over to his family," Maharashtra Chief Minister Devendra Fadnavis said. Yakub's brother Suleiman and cousin Usman, who were camping in Nagpur since yesterday, received the body which was taken to airport and flown to Mumbai. The two boarded the same flight.

Suleiman had moved an application last evening to the Nagpur jail authorities requesting that the body be handed over to the family. The request was accepted and accordingly, the body was wrapped in 'kafan' (shroud) and placed in a tightly sealed coffin box.

Mumbai Police has not allowed Yakub's family to carry the body in a procession and has made arrangements to perform the burial at a cemetery in Marine Lines, where heavy police force has been deployed.

"We have not permitted Yakub's family to reach the cemetery in any procession taking into account law and order situation and only those very close to the family would be taking part in his last rites," a senior police officer said.

"We have already gathered personal details of the people who would be with Yakub's family," he added. Since Yakub's father Abdul Razzak and some other family members were buried at the Marine Lines cemetery, Yakub's family has wished to perform his last rites there, another police officer said.

Alternative arrangements have also been made for burial at the Mahim cemetery, he said.

"We are monitoring and reviewing the security arrangements regularly," Mumbai Police spokesperson Dhananjay Kulkarni said.

Mumbai Police have detained nearly 405 people as a preventive measure to maintain law and order in the wake of Yakub's hanging. "All the people who are detained are on police record, who might disturb the communal harmony or create disturbance in the city," said DCP (Detection) Dhananjay Kulkarni.

Police are also keeping a close eye on any inflammatory statement by religious or political leaders and have warned of strict action against anyone violating law. The burial will take place in a Muslim cemetery after the usual last prayer 'Namaj-e-Janaja' later today.

Tight security arrangements were made in and around the Central Prison in Nagpur. Quick Response Teams were deployed and authorities also clamped section 144 of CrPC (unlawful assembly) last evening.

A large number of onlookers gathered at some distance outside the jail. Yakub was hanged till death in the 'Fansi Yard' under supervision of Jail Superintendent Yogesh Desai.

A team of doctors declared him dead after about half-and-hour of the scheduled hanging, when his body was brought down.

Chief Judicial Magistrate of Nagpur M M Deshpande was present in the Fansi Yard.

She read out the operating part of the TADA court order which awarded capital punishment to Yakub before he was made to stand on a stool and the lever pulled by the hangman.

Yakub, who was the lone convict sent to gallows in the serial blasts which claimed 257 lives across the financial capital of country in 1993, lost a series of legal battles for stay on his execution.

Also Read: Yakub Memon hanged in Nagpur jail on his 54th birthday

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News Network
March 10,2020

Mar 10: Indian energy tycoon Mukesh Ambani is no longer Asia’s richest man, relinquishing the title to Jack Ma after oil prices collapsed along with global stocks.

The rout, exacerbated by mounting fears that the spread of the novel coronavirus will thrust the world into a recession, erased $5.8 billion from Ambani’s net worth on Monday and pushed him to No. 2 on the list of Asia’s richest people, according to the Bloomberg Billionaires Index. Ma, the Alibaba Group Holding Ltd. founder who relinquished the No. 1 ranking in mid-2018, is back on top with a $44.5 billion fortune, about $2.6 billion more than Ambani.

Oil plunged the most in 29 years on Monday as Saudi Arabia and Russia vowed to pump more in a struggle for market share. The slump comes just as the coronavirus is spurring the first decline in demand in more than a decade. That raises questions about whether Ambani’s flagship Reliance Industries Ltd. will be able to cut net debt to zero by early 2021, as he has pledged. The plan hinges on a proposal to sell a stake in the group’s oil and petrochemicals division to Saudi Arabian Oil Co., the world’s biggest crude producer.

While the coronavirus has curtailed some of tech giant Alibaba’s businesses, the damage has been mitigated by increased demand for its cloud computing services and mobile apps.

Reliance Industries, by comparison, has no such silver lining. The Indian conglomerate’s shares plunged 12% on Monday, the most since 2009, extending this year’s decline to 26%. Alibaba’s American depositary receipts have slipped 6.8% so far in 2020.

Ma reclaims crown after Reliance shares were pummeled in 2020.

Few of the world’s billionaires fared well in Monday’s collapse as the S&P 500 Index and Dow Jones Industrial Average each plunged more than 7.5%, the most since the 2008 financial crisis, threatening to end the longest bull market in history. But no one did worse than those whose fortunes are underpinned by oil. Wildcatter Harold Hamm’s fortune was cut almost in half to $2.4 billion and fellow oil magnate Jeff Hildebrand lost $3 billion, bumping both from Bloomberg’s 500-member wealth ranking.

In a pivot toward new businesses such as telecommunications, technology and retail, Ambani’s Reliance Industries has piled on billions of dollars of debt over the years.

It spent almost $50 billion -- most of it funded by borrowings -- to build Reliance Jio Infocomm Ltd., which became India’s No. 1 wireless carrier within about three years of its debut. As the mobile venture took off, Ambani also unveiled plans for an e-commerce empire to rival Amazon.com Inc. in India.

Addressing concerns over the liabilities, Ambani pledged in August to cut the group’s net debt to zero from about $21 billion as of last March. The Aramco deal is crucial to that plan for which Reliance Industries has valued its oil-to-chemicals division at $75 billion including debt, implying a $15 billion valuation for the 20% stake that’s for sale.

Signs of a potential delay to that deal unnerved some investors, hammering the stock since it touched a record high on Dec. 19.

Reliance Industries expected the Aramco transaction to be completed by March, but people familiar with the matter said in February that talks were still ongoing to bridge differences between the two parties over the deal’s structure.

Adding to the uncertainty, Indian Prime Minister Narendra Modi’s administration has petitioned a court to halt the proposed stake sale, threatening a key source of funds needed to pare net debt.

But Ambani, 62, may soon bounce back from the setback, said Harish H.V., managing partner at ECube Investment Advisors in Bengaluru, India.

“The game isn’t over,” he said. “Ambani has successfully built a robust business model which would keep him in the game. Moreover, his telecom business will start yielding results in coming years.”

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SmR
 - 
Tuesday, 10 Mar 2020

The curses of the bank depositors savings which vanished with collapsing economy and fraudlent seems to have gradully affecting riches of Ambani's.

 

AU
 - 
Tuesday, 10 Mar 2020

in Holy Quran Allah says; but they plan and Allah plans, and Allah is the best planners..(Surah Al Anfal 8:30)

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News Network
May 11,2020

London, May 11: Fugitive diamond merchant Nirav Modi's five-day extradition trial over the nearly USD2 billion Punjab National Bank (PNB) fraud and money laundering case is set to begin in London's Westminster Magistrates' Court today.

The London High Court rejected Nirav Modi's bail plea in Punjab National Bank (PNB) bank fraud case for the fifth time in early March.

Modi, the prime accused in the PNB fraud case, is currently lodged at Wandsworth prison in south-west London and is wanted for his alleged role in the Rs 13,570 crore loss caused to the Punjab National Bank (PNB) along with his uncle, Mehul Choksi.

Modi, 48, was arrested in March last year by Scotland Yard in connection with the case.

Modi was remanded in custody till February 27, 2020, after he appeared before a UK court on Thursday via video link from his London prison.

The latest bail hearing followed further assurances by Modi, including an increase in the amount of security he had offered as a guarantee as well as stricter bail conditions.

On his last bail application, Modi offered USD 4 million as a security guarantee in return for bail, an offer that was rejected by judges who ruled that there was a real risk that Modi would flee the UK to a country which has no extradition treaty with India.

At the same hearing, the judge ruled that there was "strong evidence" that Modi had engaged in "witness intimidation" and destroying evidence.

Given the seriousness of such allegations, it was all but certain that the latest bail application would be rejected.

Modi's lawyers had contended that their client was being held in difficult conditions at Wandsworth prison and had also claimed that his mental health was deteriorating as a result of his incarceration.

However, ruling at the High Court today, Justice Ian Dove said there was a "clear need for this application to be refused in the present circumstances."

It comes just days after the second sale of assets belonging to Modi valued at millions of dollars.

The items include a luxury Rolls Royce car, a Patek Philippe watch and a painting by the renowned Indian artist Amrita Sher-Gil valued at USD 2.5 million but expected to fetch considerably more.

Meanwhile, Nirav's brother Neeshal Modi, who is also one of the co-conspirators in the PNB scam, has written to Enforcement Directorate, distancing himself from his brother's actions and said that he had no knowledge of it.

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Agencies
March 14,2020

New Delhi, Mar 14: A Delhi court on Friday granted bail to three alleged members of the Popular Front of India (PFI) -- Parvez (Delhi President), Iliyas (Delhi Secretary) and Danish -- in connection with the organization's role in the northeast Delhi violence last month.

Metropolitan Magistrate Prabhdeep Kaur granted bail to all three accused on furnishing personal bail bonds of Rs 30,000 each.

The court said that "Investigating Officer (IO) has nowhere mentioned that any of the non-bailable offences has been disclosed or has come out during investigation till now, therefore, accused be enlarged on bail."

According to police, the three men were arrested for allegedly spreading fake propaganda during the anti-CAA protests.

Delhi police, while opposing bail and seeking remand, stated that police custody is required because accused were involved in a conspiracy of communal riots which resulted in the death of 50 innocent people and injuries to approximately 300 persons and huge loss of government and public properties.

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