Yatra Naryastu Pujyante… 46% of Indians say husband has the right to beat wife

Mumbai, Feb 8: Anil Ambani, the brother of Asia’s richest man has pleaded poverty in his dispute with three Chinese banks seeking $680 million in defaulted loans.

“The value of my investments has collapsed,” Anil Ambani said, according to a court filing by the banks in a London lawsuit.

“The current value of my shareholdings is down to approximately $82.4m and my net worth is zero after taking into account my liabilities. In summary, I do not hold any meaningful assets which can be liquidated for the purposes of these proceedings.”

The lawsuit was filed by three state-controlled Chinese banks which argue that they provided a loan of $925 million to Ambani’s Reliance Communications Ltd. in 2012 with the condition that he personally guarantee the debt. The comments were disclosed on Friday as Ambani sought to avoid depositing hundreds of millions of dollars with the court ahead of a trial.

The embattled Indian tycoon says that while he agreed to give a non-binding “personal comfort letter,” he never gave a guarantee tied to his personal assets -- an “extraordinary potential personal liability.”

The 60-year-old is the brother of Mukesh Ambani, who’s worth $56.5 billion and is the wealthiest man in Asia. Anil, on the other hand, has seen his personal fortune dwindle over recent years, losing his billionaire status. His Reliance Communications filed for bankruptcy last year.

The banks asked Judge David Waksman to force Ambani to put up $656 million into the court’s account.

Representatives for Ambani’s Reliance Group said they couldn’t immediately comment. They said the group will issue a statement once the court issues the final order.

Ambani’s lawyer, Robert Howe, said the court shouldn’t order his client to make a payment he can’t make. The tycoon argues that an order requiring him to do so would hinder his ability to defend himself in the case, Howe said.

“There’s no evidence of some giant pot of gold that he can pull $1 million, let alone $10 million, let alone $100 million,” Howe said.

Bankim Thanki, an attorney representing Industrial & Commercial Bank of China Ltd., China Development Bank and the Export-Import Bank of China, said in a filing that Ambani’s statements are “plainly a yet further opportunistic attempt to evade his financial obligations to the lenders.”

Ambani was caught up in another legal wrangle last year when India’s Supreme Court threatened him with prison after Reliance Communications failed to pay Rs 5.5 billion ($77 million) to Ericsson AB’s Indian unit. The judges gave him a month to find the funds, and his brother, Mukesh, stepped in just in time to make the payment.

Anil said in a filing that he recognized that the judge would want to know if he could satisfy any order to put up funds from outside resources, including his family.

“I can confirm that I have made enquiries but I am unable to raise any finance from external sources,” he said. Judge Waksman had said in an earlier ruling that he believed Ambani’s defence would be shown to be “opportunistic and false.”

Ambani’s lawyer told the judge that as a result of the comments the tycoon’s relatives were unlikely to lend any funds.

There is a “very substantial risk they will never get it back,” Howe said.

Thiruvananthapuram, Feb 17: Out of the total 418 samples of suspect coronavirus cases sent for testing to National Institute of Virology from Kerala, 405 have come out as negative, while the results for the rest, barring three, are awaited.

"Out of three persons in whom the disease was confirmed, two persons have been discharged. One person is stable and the repeat sample results are awaited," according to a release by the Health and Family Welfare Department of the Kerala government.

The release added that till Sunday a total of 2,276 people have been placed under surveillance, "out of which 2262 are under home isolation and 14 are admitted in designated isolation facilities."

The health condition of all symptomatic people under isolation is stable, according to the release.

The release added that the Ministry of Health and Family Welfare (Centre) has informed the Kerala government that 115 people belonging to Kerala are currently in quarantine in two camps in Delhi.

These 115 people have been tested and found negative for coronavirus and they will be allowed to travel back to Kerala on Monday evening.

The people have been requested to remain in home isolation upon their return.

Bengaluru, Apr 11: Karnataka Library Department’s mobile application, which is said to be the first of its kind initiative in the country has seen an exponential growth in downloads during the COVID-19 lockdown, a senior Minister said on Friday. The main reason that the application is growing is due to the heavy students demand as schools and colleges are closed during the 21-day nationwide lockdown.

Students are relying on online material for their studies as they can’t step out of the house and risk being infected.

The Library Department's efforts to keep readers active through the lockdown time, by prompting them to utilise its e-initiatives is paying off, Primary and Secondary Education Minister Suresh Kumar said.

"The app is seeing exponential increase in downloads since its launch. As many as 16,500 people have taken it; while ten thousand people have downloaded it during this brief lock down time itself," he said.

E-library mobile app was released by the library department on February 26.

There are over one lakh e-books available on department's digital platform ranging from arts, humanity, school curriculum, competitive exams and self help to classic novels - all for free for the readers.

"Its needless to say, the variety of attractive content that is available in the app is creating all the buzz among the public. Not just the books, the app contains over 600 educational videos too," the Minister said in a statement.

Considering that over 16,500 readers have downloaded the app since its launch a couple of months back, its high time, we see this domain as an opportunity for growth, he said, and stressed on the need for better adaptability approaches to the changing times.