SC allows Sahara chief Subrata Roy to go abroad

November 2, 2013

SaharaNew Delhi, Nov 2: The Supreme Court on Friday allowed Sahara Chief Subrata Roy to go abroad and modified its order restraining him from leaving the country till the group hands over title deeds of Rs 20,000 crore to SEBI.

A bench of justices K.S. Radhakrishnan and J.S. Khehar considered the application of the group seeking modification in the order in chamber.

Roy's counsel and senior advocate C.A. Sundaram, who was present in the chamber, said after comming out that the bench accepted the plea for allowing Roy to abroad.

Sahara had moved the apex court on October 29 claiming that there was a mistake in its October 28 order restraining Roy from leaving the country till it hands over title deeds of its properties to SEBI. It had submitted that that there was difference in the decision which was uploaded on the Supreme Court website and the order passed in the open court.

The counsel had submitted that while passing the order, the apex court had said if documents are not handed over to the market regulator within three weeks only then Roy would be restrained from going abroad.

Holding that it was playing 'hide and seek' and cannot be trusted any more, the court had directed Sahara Group to hand over title deeds of its properties to SEBI.

Making it clear that there is no 'escape' from depositing the investors' money with the market regulator, the apex court had asked Sahara to also give valuation reports of properties to SEBI which will verify worth of assets.

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News Network
May 30,2020

New York, May 30: Cricket superstar Virat Kohli remains the only Indian in the Forbes' list of world's highest-paid athletes with total earnings of USD 26 million, jumping to the 66th spot from 100 in the 2020 standings.

Kohli's earnings from endorsement stand at USD 24 million and USD 2 million from salary/winnings. The 31-year-old is also the only cricketer in the top-100 list.

With earnings of USD 25 million, Kohli was ranked 100th in 2019 and 83rd in 2018 with USD 24 million.

Tennis legend Roger Federer has toped the list for the first time with earnings of USD 106.3 million, rising from fifth place last year.

Football icons Cristiano Ronaldo and Lionel Messi are second and third respectively with earnings of USD 105 and USD 104 million.

The others in the top-10 are Neymar (football), LeBron James (basketball), Stephen Curry (basketball), Kevin Durrant (basketball), Tigers Woods (golf), Kirk Cousins (American football) and Carson Wentz (American football).

The athletes' earnings have been impacted by the COVID-19 pandemic which led to suspension of sporting activities all around the world.

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Sunday, 31 May 2020

Saina Nehwal is the only Indian to feature in the world’s 20 most charitable athletes, as per a list compiled by the US based website in Athletes Gone Good. 

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News Network
June 19,2020

Jun 19: The BCCI is open to reviewing its sponsorship policy for the next cycle but has no plans to end its association with current IPL title sponsor Vivo as the money coming in from the Chinese company is helping India's cause and not the other way round, board treasurer Arun Dhumal said on Friday. Anti-China sentiments are running high in India following the border clash between the two countries at Galwan valley earlier this week. The first skirmish at the India-China border in more than four decades left at least 20 Indian soldiers dead. Since then, calls have been made to boycott Chinese products.

But Dhumal said Chinese companies sponsoring an Indian event like the IPL only serve his country's interests.

The BCCI gets Rs 440 crore annually from Vivo and the five-year deal ends in 2022.

"When you talk emotionally, you tend to leave the rationale behind. We have to understand the difference between supporting a Chinese company for a Chinese cause or taking help from Chinese company to support India's cause," Dhumal said.

"When we are allowing Chinese companies to sell their products in India, whatever money they are taking from Indian consumer, they are paying part of it to the BCCI (as brand promotion) and the board is paying 42 per cent tax on that money to the Indian government. So, that is supporting India's cause and not China's," he argued.

Oppo, a mobile phone brand like Vivo, was sponsoring the Indian cricket team until September last year when Bengaluru-based educational technology Byju's start-up replaced the Chinese company.

Dhumal said he is all for reducing dependence on Chinese products but as long as its companies are allowed to do business in India, there is no harm in them sponsoring an Indian brand like the IPL.

"If they are not supporting the IPL, they are likely to take that money back to China. If that money is retained here, we should be happy about it. We are supporting our government with that money (by paying taxes on it)."

"If I am giving a contract to a Chinese company to build a cricket stadium, then I am helping the Chinese economy. GCA built the world's largest cricket stadium at Motera and that contract was given to an Indian company (L&T)," he said.

"Cricketing infrastructure worth thousands of crores was created across country and none of the contract was awarded to a Chinese company."

Dhumal went on to say the BCCI is spoilt for choice when it comes to attracting sponsors, whether Indian or Chinese or from any other nation.

"If that Chinese money is coming to support Indian cricket, we should be okay with it. I am all for banning Chinese products as an individual, we are there to support our government but by getting sponsorship from Chinese company, we are helping India's cause."

"We can get sponsorship money from non-Chinese companies also including Indian firms. We can support our players any way but the idea is when they are allowed to sell their products here, it is better that part of money comes back to the Indian economy."

"The BCCI is not giving money to the Chinese, it is attracting on the contrary. We should make decision based on rationale rather than emotion," he added.

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News Network
March 19,2020

London, Mar 19: Talking about the break in cricketing activities due to the COVID-19 pandemic, South Africa pacer Dale Steyn said that the disease seems to be to the only topic of conversation these days.

"I don't know how to describe it. Doesn't matter where you go, everyone is talking about it - whether it is on an airplane or you are just popping into a grocery store. It just seems like it is the only topic of conversation," ESPN Cricinfo quoted Steyn as saying.

"Yeah, it's so strange. Normally if I am on holiday I'll be planning a fishing trip or a surfing trip. At the moment I am just chilling at home," he added.

Steyn was last seen in action in the Pakistan Super League where he took two wickets in two matches.

When asked whether he has enough hand sanitizers, he replied: "We just decided that stockpiling is definitely not the way to go. It is not fair on everybody who needs that stuff. I went to the grocery store the other day and everyone had bought all the toilet paper. We have what we need, and when that runs out, that runs out, and we need to go and get some more".

"We didn't feel it was necessary to go and absolutely just, like, zombie our lives up. There's other people that live on a day-to-day basis. They are not going to get all of that stuff, so we thought it was best not to do that".

Steyn also had a message for the fans, "Stay healthy, wash your hands, look after yourself, don't be greedy. Right now they are saying old people are really struggling, so if in a position to help, rather help them than help yourself. Pretty simple, really."

Due to the COVID-19 outbreak, the ODI series between India-South Africa and Australia-New Zealand have been postponed.

The start of the Indian Premier League (IPL) has also been postponed until April 15.

Cricket South Africa has suspended all forms of cricket for 60 days while Cricket Australia has advised all its employees to work from home.

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