General Affairs
Tarun Gogoi Urges Centre To Allow Assam's Tableau On Republic Day Parade
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GUWAHATI: Assam Chief Minister Tarun Gogoi today urged Defence Minister Manohar Parrikar to give the state an opportunity to display its tableau in the forthcoming Republic Day celebrations.
The presence of a tableau from Assam in the Republic Day parade will help enhance the sense of patriotism amongst the people and instill a feeling of nationalism amongst the misguided youth of the state, Mr Gogoi said in a letter to Mr Parrikar today.
Mr Gogoi welcomed the decision of the Centre's Expert Committee for Selection of Tableau for shortlisting the design showcasing Bihu dance and wished that it would be finalised too.
The government of Assam had submitted four designs for the state tableau, out of which the design showcasing the Bihu dance was shortlisted by the Expert Committee.
GUWAHATI: Assam Chief Minister Tarun Gogoi today urged Defence Minister Manohar Parrikar to give the state an opportunity to display its tableau in the forthcoming Republic Day celebrations.The presence of a tableau from Assam in the Republic Day parade will help enhance the sense of patriotism amongst the people and instill a feeling of nationalism amongst the misguided youth of the state, Mr Gogoi said in a letter to Mr Parrikar today.
Mr Gogoi welcomed the decision of the Centre's Expert Committee for Selection of Tableau for shortlisting the design showcasing Bihu dance and wished that it would be finalised too.
The government of Assam had submitted four designs for the state tableau, out of which the design showcasing the Bihu dance was shortlisted by the Expert Committee.
Indo-Pak Flag Meeting Decides To Keep Communication Alive Along Line Of Control
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JAMMU: India and Pakistan today agreed to exercise restraint and keep the communication channels alive that were established through reconciliation mechanism as senior Army officers of the two countries held a Flag Meeting in Poonch sector of Jammu and Kashmir.
A Battalion Commander Level Flag Meeting between India and Pakistan army officers was held at Chakan-Da-Bagh in Poonch district today.
"The meeting was held in a cordial atmosphere to take forward the confidence building measures initiated during the Brigade Commander Level Flag Meeting in September," Defence spokesperson Lieutenant Colonel Manish Mehta said.
He said that the representatives of the two nations deliberated on a host of issues, including ceasefire violations, return of civilians who cross the border inadvertently, air space violations and construction activity close to the Line of Control.
"In the meeting which lasted for nearly an hour and half, the colonel ranked officers leading the respective delegations acknowledged each other's efforts in maintaining peace and tranquillity on the Line of Control in the recent past", Lt Col Mehta said.
The spokesperson noted that both the sides mutually agreed to the importance of exercising restraint on the Line of Control and keeping the communication alive through established reconciliation mechanism.
"The Flag Meeting ended on a positive note wherein the two sides exchanged pleasantries and sweets at the zero line", he said.
A Battalion Commander Level Flag Meeting between India and Pakistan army officers was held at Chakan-Da-Bagh in Poonch district today.
He said that the representatives of the two nations deliberated on a host of issues, including ceasefire violations, return of civilians who cross the border inadvertently, air space violations and construction activity close to the Line of Control.
"In the meeting which lasted for nearly an hour and half, the colonel ranked officers leading the respective delegations acknowledged each other's efforts in maintaining peace and tranquillity on the Line of Control in the recent past", Lt Col Mehta said.
The spokesperson noted that both the sides mutually agreed to the importance of exercising restraint on the Line of Control and keeping the communication alive through established reconciliation mechanism.
"The Flag Meeting ended on a positive note wherein the two sides exchanged pleasantries and sweets at the zero line", he said.
Juvenile Justice Bill Passed In Rajya Sabha, Jyoti Singh's Parents Watched Debate
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NEW DELHI: The Rajya Sabha today passed by voice vote the Juvenile Justice Bill, amending the law to allow trying those over 16 years of age and accused of heinous crimes, as adults. The Lok Sabha has already passed the bill, which will now sent to the President for ratification.
Present as the upper house debated the Bill were Asha Devi and Badrinath, the parents of Jyoti Singh, a 23-year-old medical student who was gang-raped by six men on a moving bus in Delhi on December 16, 2012. She died in a Singapore hospital 13 days later.
"I am satisfied that the bill has been passed, and other young girls will get justice. But I am sad that my daughter did not get justice," said Jyoti's mother Asha Devi.
Jyoti's parents have spearheaded the demand for a change in the law. While Jyoti's other attackers have been sentenced to death, the youngest was released on Sunday after three years in a remand home. Now 20, he could not be tried in court for the brutal rape and murder as he was a few months short of 18 at the time of the attack.
Today's amendment will not affect the juvenile offender. But there have been massive protests over his release and public sentiment brought pressure on political parties as they debated the change in law.
The Congress, crucial to any vote in the Rajya Sabha because of its superior numbers, supported the bill, though many of its leaders had said they favoured sending it to a a parliamentary panel called a select committee.
The Left walked out before the vote after its suggestion that the bill be sent to a select committee for review was rejected.
NEW DELHI: The Rajya Sabha today passed by voice vote the Juvenile Justice Bill, amending the law to allow trying those over 16 years of age and accused of heinous crimes, as adults. The Lok Sabha has already passed the bill, which will now sent to the President for ratification.Present as the upper house debated the Bill were Asha Devi and Badrinath, the parents of Jyoti Singh, a 23-year-old medical student who was gang-raped by six men on a moving bus in Delhi on December 16, 2012. She died in a Singapore hospital 13 days later.
"I am satisfied that the bill has been passed, and other young girls will get justice. But I am sad that my daughter did not get justice," said Jyoti's mother Asha Devi.
Jyoti's parents have spearheaded the demand for a change in the law. While Jyoti's other attackers have been sentenced to death, the youngest was released on Sunday after three years in a remand home. Now 20, he could not be tried in court for the brutal rape and murder as he was a few months short of 18 at the time of the attack.
Today's amendment will not affect the juvenile offender. But there have been massive protests over his release and public sentiment brought pressure on political parties as they debated the change in law.
The Congress, crucial to any vote in the Rajya Sabha because of its superior numbers, supported the bill, though many of its leaders had said they favoured sending it to a a parliamentary panel called a select committee.
The Left walked out before the vote after its suggestion that the bill be sent to a select committee for review was rejected.
Rail Neer Scam: Delhi Court Grants Bail To Businessman
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NEW DELHI: A Delhi court has granted bail to a businessman who has been chargesheeted by CBI along with others in Rail Neer scam for alleged irregularities in supply of packaged drinking water in Rajdhani and other superfast trains.
Special Judge Vinod Kumar enlarged Sharan Bihari Aggarwal, owner of RK Associates, on bail on a personal bond of Rs. two lakh with one surety of like amount, observing that charge sheet has already been filed in the case and an accused cannot be kept in jail for indefinite period. He was arrested in October.
The court noted that investigation in the case was over and CBI has filed a charge sheet but since the sanction to prosecute accused public servants under the provision of the Prevention of Corruption (PC) Act has not been received, it cannot take cognisance of the final report.
"In the present case, the investigation is complete and charge sheet has been filed. Since the sanction under section 19 of the PC Act in respect of public servants has not been received and same is likely to take considerable time, the cognisance could not be taken despite filing of the charge sheet," the court said.
"In these circumstances, accused cannot be kept in jail for indefinite period, therefore, I admit the accused Sharan Bihari Aggarwal to bail on furnishing personal bond in the sum ofRs. two lakh with one surety in the like amount," the judge said.
CBI has opposed the bail plea, saying allegation against the accused were serious in nature.
The court had earlier granted bail to arrested accused Indian Railway Traffic Service (IRTS) officers Sandeep Silas and MS Chalia in connection with the case.
These three accused were arrested by CBI in the case in which it has alleged that supply of other brands of packaged water had resulted in a huge loss to the railways.
CBI has filed a charge sheet in the case against Chalia, Silas, Aggarwal and others, including various firms.
The charge sheet has been filed under various provisions of IPC, including criminal conspiracy, and under the provision of the Prevention of Corruption Act.
CBI has earlier alleged that the two accused officials, who held the position of Chief Commercial Manager, had shown favour to certain private firms in supply of cheap packaged drinking water other than 'Rail Neer' which is mandatory in premium trains, including Rajdhani and Shatabdi.
Special Judge Vinod Kumar enlarged Sharan Bihari Aggarwal, owner of RK Associates, on bail on a personal bond of Rs. two lakh with one surety of like amount, observing that charge sheet has already been filed in the case and an accused cannot be kept in jail for indefinite period. He was arrested in October.
"In the present case, the investigation is complete and charge sheet has been filed. Since the sanction under section 19 of the PC Act in respect of public servants has not been received and same is likely to take considerable time, the cognisance could not be taken despite filing of the charge sheet," the court said.
"In these circumstances, accused cannot be kept in jail for indefinite period, therefore, I admit the accused Sharan Bihari Aggarwal to bail on furnishing personal bond in the sum ofRs. two lakh with one surety in the like amount," the judge said.
CBI has opposed the bail plea, saying allegation against the accused were serious in nature.
The court had earlier granted bail to arrested accused Indian Railway Traffic Service (IRTS) officers Sandeep Silas and MS Chalia in connection with the case.
These three accused were arrested by CBI in the case in which it has alleged that supply of other brands of packaged water had resulted in a huge loss to the railways.
CBI has filed a charge sheet in the case against Chalia, Silas, Aggarwal and others, including various firms.
The charge sheet has been filed under various provisions of IPC, including criminal conspiracy, and under the provision of the Prevention of Corruption Act.
CBI has earlier alleged that the two accused officials, who held the position of Chief Commercial Manager, had shown favour to certain private firms in supply of cheap packaged drinking water other than 'Rail Neer' which is mandatory in premium trains, including Rajdhani and Shatabdi.
Questions Mount Over Failure To Prevent China Mudslide
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SHENZHEN, CHINA: Officials highlighted their handling of the search for 76 missing people at a collapsed mountain of construction waste as questions mounted today about why leaders in southern China's most prominent manufacturing city didn't act months earlier to prevent the disaster.
Rescuers also recovered a man's body in the first confirmed death from Sunday's mudslide at the construction dump site in Shenzhen.
Still missing are 51 men and 25 women, Vice Mayor Liu Qingsheng told a televised news conference. He said the number had fallen as people initially unaccounted for had gradually turned up.
The Ministry of Land and Resources has said a steep man-made mountain of dirt, cement chunks and other construction waste had been piled up against a 100-meter (330-foot) -high hill over the past two years.
Heavy rains saturated the soil, making it heavy and unstable, and ultimately causing it to collapse with massive force in and around an industrial park.
State media reported that the New Guangming District government identified problems with the mountain of soil months earlier.
The Legal Evening News reported that a district government report in January found that the dump had received one million cubic meters of waste and warned of a "catastrophe."
Under pressure from the media, officials allowed about 30 journalists, mostly from foreign outlets, approach an outlying edge of the disaster area. Flanked by police, reporters could observe military posts with computers and disease control stations set up for the rescue workers.
At the beginning of the news conference, Liu and other officials bowed to express their condolences for the victim that had been found.
No questions from reporters were allowed.
SHENZHEN, CHINA: Officials highlighted their handling of the search for 76 missing people at a collapsed mountain of construction waste as questions mounted today about why leaders in southern China's most prominent manufacturing city didn't act months earlier to prevent the disaster.Rescuers also recovered a man's body in the first confirmed death from Sunday's mudslide at the construction dump site in Shenzhen.
Still missing are 51 men and 25 women, Vice Mayor Liu Qingsheng told a televised news conference. He said the number had fallen as people initially unaccounted for had gradually turned up.
Heavy rains saturated the soil, making it heavy and unstable, and ultimately causing it to collapse with massive force in and around an industrial park.
State media reported that the New Guangming District government identified problems with the mountain of soil months earlier.
The Legal Evening News reported that a district government report in January found that the dump had received one million cubic meters of waste and warned of a "catastrophe."
Under pressure from the media, officials allowed about 30 journalists, mostly from foreign outlets, approach an outlying edge of the disaster area. Flanked by police, reporters could observe military posts with computers and disease control stations set up for the rescue workers.
At the beginning of the news conference, Liu and other officials bowed to express their condolences for the victim that had been found.
No questions from reporters were allowed.
Business Affairs
Sensex ends 145 points down; Nifty below 7,800; Sun Pharma stock rebounds
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The S&P BSE Sensex ended the day 145 points down in trade on Tuesday, while broader CNX Nifty closed below its key support level of 7,800.
Sentiment turned bearish as investors avoided building large positions in a holiday-shortened week and ahead of the expiry of derivatives contracts next Thursday.
The 30-share index settled at 25,590.65, down 145.25 points, while broad-based 50-share index quoted 7,786.10, down 48.35 points.
Market breadth remained negative with 22 of the 30 Sensex components ending the day in red.
Street also tracked Asian markets, which edged up taking solace from Wall Street gains and some stability in recently weak crude oil prices.
Local markets will be closed on Friday for Christmas.
"It's going to be rangebound with some positive bias, we will not have any major exciting or disappointing global cues this week," said Gaurang Shah, vice president at Geojit BNP Paribas.
Sentiment on the Street also turned subdued as no major reforms seem likely including GST with winter session of the Parliament concluding on Wednesday.
Stock of Sun Pharma rebounded post previous day's 7 per cent-fall and was the best performing component on both the benchmark indices. It closed at Rs 764.15, up 1.29 per cent on BSE.
Among Asian markets, China's Shanghai Composite ended 0.26 per cent higher, while Hong Kong's Hang Seng index also gained 0.18 per cent. Japan's Nikkei bucked the trend to end the day 0.16 per cent lower.
Overnight, Wall Street ended higher boosted by bounces in Apple and Microsoft as well as a rally in hospital stocks after more Americans signed up for subsidized health insurance. The Dow Jones industrial average rose 0.72 per cent to end at 17,251.48 points and the S&P 500 gained 0.78 per cent to 2,021.16.
_122215093747.jpg "Sensex trades flat; Nifty above 7,800-mark; Sun Pharma stock rebounds")
The S&P BSE Sensex ended the day 145 points down in trade on Tuesday, while broader CNX Nifty closed below its key support level of 7,800.
Sentiment turned bearish as investors avoided building large positions in a holiday-shortened week and ahead of the expiry of derivatives contracts next Thursday.
The 30-share index settled at 25,590.65, down 145.25 points, while broad-based 50-share index quoted 7,786.10, down 48.35 points.
Market breadth remained negative with 22 of the 30 Sensex components ending the day in red.
Street also tracked Asian markets, which edged up taking solace from Wall Street gains and some stability in recently weak crude oil prices.
Local markets will be closed on Friday for Christmas.
"It's going to be rangebound with some positive bias, we will not have any major exciting or disappointing global cues this week," said Gaurang Shah, vice president at Geojit BNP Paribas.
Sentiment on the Street also turned subdued as no major reforms seem likely including GST with winter session of the Parliament concluding on Wednesday.
Stock of Sun Pharma rebounded post previous day's 7 per cent-fall and was the best performing component on both the benchmark indices. It closed at Rs 764.15, up 1.29 per cent on BSE.
Among Asian markets, China's Shanghai Composite ended 0.26 per cent higher, while Hong Kong's Hang Seng index also gained 0.18 per cent. Japan's Nikkei bucked the trend to end the day 0.16 per cent lower.
Overnight, Wall Street ended higher boosted by bounces in Apple and Microsoft as well as a rally in hospital stocks after more Americans signed up for subsidized health insurance. The Dow Jones industrial average rose 0.72 per cent to end at 17,251.48 points and the S&P 500 gained 0.78 per cent to 2,021.16.
Reliance Communications, Aircel in talks to merge mobile business
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Reliance Communications, India's fourth-biggest mobile phone carrier, said on Tuesday it is holding non-binding but exclusive talks for a potential merger of its wireless business with smaller rival Aircel.
Reliance Communications, controlled by billionaire Anil Ambani, has entered into a 90-day exclusivity period with Aircel's majority owner Malaysia's Maxis Communications Bhd and another shareholder Sindya Securities and Investments Pvt, Reliance said in a statement.
The potential deal will exclude Reliance Communications' tower and optical fibre assets for which a separate sale process is ongoing, the company said.
Reliance Communications, India's fourth-biggest mobile phone carrier, said on Tuesday it is holding non-binding but exclusive talks for a potential merger of its wireless business with smaller rival Aircel.
Reliance Communications, controlled by billionaire Anil Ambani, has entered into a 90-day exclusivity period with Aircel's majority owner Malaysia's Maxis Communications Bhd and another shareholder Sindya Securities and Investments Pvt, Reliance said in a statement.
The potential deal will exclude Reliance Communications' tower and optical fibre assets for which a separate sale process is ongoing, the company said.
Current account deficit narrows to 1.6% of GDP in Q2
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The current account deficit (CAD) narrowed to 1.6 per cent of GDP at $8.2 billion in the second quarter ended September, mainly due to lower trade deficit. The July-September CAD is lower than $10.9 billion, or 2.2 per cent of GDP, in the same quarter of last fiscal.
It is, however, higher than 1.2 per cent for the previous quarter of current fiscal. The contraction in CAD was primarily on account of lower trade deficit ($37.4 billion) as compared with $39.7 billion in Q2 of last year though it was higher than the level in the preceding quarter ($34.2 billion), RBI said in the second quarterly balance of payments data released on Tuesday.
Although net services receipts moderated marginally on a annual basis largely due to fall in export receipts in transport, insurance and pension services, there has been some improvement over the preceding quarter, it said.
However, it said, after a sharp pick up in the first quarter, net foreign direct investment (FDI) moderated in second quarter of 2015-16. Net FDI inflows during first half of current fiscal rose by more than 10 per cent over the level during the corresponding period of the previous year.
During the first 6 months of the current fiscal, the CAD narrowed to 1.4 per cent of GDP from 1.8 per cent in the same period a year ago on contraction in the trade deficit and a marginal improvement in net invisibles. Indias trade deficit narrowed to $71.6 billion in the first half from $74.7 billion in the same period previous fiscal.
Last week, the Finance Minister Arun Jaitley had said CAD is expected to be 1.2 per cent of the GDP for the entire 2015-16 fiscal. With a moderately good GDP growth figure, the fiscal deficit under control, the current account deficit which we planned to about 1.2 per cent, we intend to achieve that, he had said.
The current account deficit (CAD) narrowed to 1.6 per cent of GDP at $8.2 billion in the second quarter ended September, mainly due to lower trade deficit. The July-September CAD is lower than $10.9 billion, or 2.2 per cent of GDP, in the same quarter of last fiscal.
It is, however, higher than 1.2 per cent for the previous quarter of current fiscal. The contraction in CAD was primarily on account of lower trade deficit ($37.4 billion) as compared with $39.7 billion in Q2 of last year though it was higher than the level in the preceding quarter ($34.2 billion), RBI said in the second quarterly balance of payments data released on Tuesday.
Although net services receipts moderated marginally on a annual basis largely due to fall in export receipts in transport, insurance and pension services, there has been some improvement over the preceding quarter, it said.
However, it said, after a sharp pick up in the first quarter, net foreign direct investment (FDI) moderated in second quarter of 2015-16. Net FDI inflows during first half of current fiscal rose by more than 10 per cent over the level during the corresponding period of the previous year.
During the first 6 months of the current fiscal, the CAD narrowed to 1.4 per cent of GDP from 1.8 per cent in the same period a year ago on contraction in the trade deficit and a marginal improvement in net invisibles. Indias trade deficit narrowed to $71.6 billion in the first half from $74.7 billion in the same period previous fiscal.
Last week, the Finance Minister Arun Jaitley had said CAD is expected to be 1.2 per cent of the GDP for the entire 2015-16 fiscal. With a moderately good GDP growth figure, the fiscal deficit under control, the current account deficit which we planned to about 1.2 per cent, we intend to achieve that, he had said.
Gold imports likely to touch 1,000 tonne this year, up 11%
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Buoyed by sharp fall in gold prices globally, India is likely to see a jump of 11 per cent in imports of the metal to 1,000 tonnes this year, says a trade body.
According to the All India Gems and Jewellery Trade Federation, the world's second-biggest gold consumer had imported around 900 tonnes in 2014.
"Gold import is estimated at around 1,000 tonnes in 2015 calendar year, compared to around 900 tonnes last year.
Imports are likely to increase because of low global prices," All India Gems and Jewellery Trade Federation Chairman G V Sreedhar said at an event here.
He said imports through smuggling are estimated to be around 100 tonnes this year.
According to the Federation, India has already imported 850 tonnes of gold from January-September of 2015 as against 650 tonnes in the first 9 months of last year.
Gold imports are expected to be 150-200 tonnes in the last quarter, as against 300 tonnes in the year-ago period.
The World Gold Council has said in its latest report that India's gold demand in the October-December quarter would be more muted.
"Lingering concerns over the health of the rural Indian economy and local gold prices remaining in close proximity to Rs 27,000 per 10 grams level in recent weeks also give reasons to adopt a prudent outlook for the usual fourth quarter uplift in Indian demand," it had said in the report.
Although the upsurge in demand during July-September period partially compensated for the second quarter's poor turnout, it also ate into 'normal' seasonal demand that would take place between September and November, the report said.
Festival and wedding purchases were brought forward to take advantage of the price dip, therefore demand towards the end of the year is likely to be correspondingly affected, it added.
Gold is the second-largest import item for India after petroleum. Higher gold import bill adversely affects the country's current account deficit.
Buoyed by sharp fall in gold prices globally, India is likely to see a jump of 11 per cent in imports of the metal to 1,000 tonnes this year, says a trade body.
According to the All India Gems and Jewellery Trade Federation, the world's second-biggest gold consumer had imported around 900 tonnes in 2014.
"Gold import is estimated at around 1,000 tonnes in 2015 calendar year, compared to around 900 tonnes last year.
Imports are likely to increase because of low global prices," All India Gems and Jewellery Trade Federation Chairman G V Sreedhar said at an event here.
He said imports through smuggling are estimated to be around 100 tonnes this year.
According to the Federation, India has already imported 850 tonnes of gold from January-September of 2015 as against 650 tonnes in the first 9 months of last year.
Gold imports are expected to be 150-200 tonnes in the last quarter, as against 300 tonnes in the year-ago period.
The World Gold Council has said in its latest report that India's gold demand in the October-December quarter would be more muted.
"Lingering concerns over the health of the rural Indian economy and local gold prices remaining in close proximity to Rs 27,000 per 10 grams level in recent weeks also give reasons to adopt a prudent outlook for the usual fourth quarter uplift in Indian demand," it had said in the report.
Although the upsurge in demand during July-September period partially compensated for the second quarter's poor turnout, it also ate into 'normal' seasonal demand that would take place between September and November, the report said.
Festival and wedding purchases were brought forward to take advantage of the price dip, therefore demand towards the end of the year is likely to be correspondingly affected, it added.
Gold is the second-largest import item for India after petroleum. Higher gold import bill adversely affects the country's current account deficit.
Matrimony.com, Quick Heal get nod for IPOs; may raise Rs 1,000 cr
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Matrimony.com, which operates under BharatMatrimony brand, and Quick Heal Technologies have received markets regulator Sebi's approval to launch their Initial Public Offers and may raise around Rs 1,000 crore.
Matrimony.com had filed its Draft Red Herring Prospectus (DRHP) with Sebi in August, while Quick Heal had submitted its draft documents in September.
The Securities and Exchange Board of India cleared the proposed initial share sales and gave final observations on the IPOs on December 18.
As per the draft paper, Matrimony.com's IPO comprises fresh issue of equity shares worth Rs 350 crore and an offer for sale of up to 16.60 lakh scrips by existing shareholders.
The existing investors include Bessemer India Capital Holdings, Draper Investment Company LLC, Hartenbaum Revocable Trust and Indrani Janakiraman.
According to sources, the company is expected to garner Rs 600-700 crore through the public offer.
This would be the second major IPO by an Internet company after Justdial. The local search engine firm had raked in Rs 950 crore through its public offer in 2013.
The funds would be used for business promotion, purchase and development of office premises in Chennai, repayment of overdraft facilities and procurement of hardware and software requirements for a centrally controlled contact centre and general corporate purposes.
Matrimony competes with Shaadi.com, Times Group's SimplyMarry.com and Info Edge-owned Jeevansaathi.com.
Quick Heal's IPO comprises of a fresh issue of shares worth up to Rs 250 crore.
Besides, an offer for sale of more than 68.14 lakh shares would be made by Kailash Sahebrao Katkar, Sanjay Sahebrao Katkar and Sequoia Capital.
Matrimony.com, which operates under BharatMatrimony brand, and Quick Heal Technologies have received markets regulator Sebi's approval to launch their Initial Public Offers and may raise around Rs 1,000 crore.
Matrimony.com had filed its Draft Red Herring Prospectus (DRHP) with Sebi in August, while Quick Heal had submitted its draft documents in September.
The Securities and Exchange Board of India cleared the proposed initial share sales and gave final observations on the IPOs on December 18.
As per the draft paper, Matrimony.com's IPO comprises fresh issue of equity shares worth Rs 350 crore and an offer for sale of up to 16.60 lakh scrips by existing shareholders.
The existing investors include Bessemer India Capital Holdings, Draper Investment Company LLC, Hartenbaum Revocable Trust and Indrani Janakiraman.
According to sources, the company is expected to garner Rs 600-700 crore through the public offer.
This would be the second major IPO by an Internet company after Justdial. The local search engine firm had raked in Rs 950 crore through its public offer in 2013.
The funds would be used for business promotion, purchase and development of office premises in Chennai, repayment of overdraft facilities and procurement of hardware and software requirements for a centrally controlled contact centre and general corporate purposes.
Matrimony competes with Shaadi.com, Times Group's SimplyMarry.com and Info Edge-owned Jeevansaathi.com.
Quick Heal's IPO comprises of a fresh issue of shares worth up to Rs 250 crore.
Besides, an offer for sale of more than 68.14 lakh shares would be made by Kailash Sahebrao Katkar, Sanjay Sahebrao Katkar and Sequoia Capital.
General Awareness
5 new districts to be formed in West Bengal
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The Government of West Bengal has approved the proposal for introducing five new districts in the state. The total number of districts in West Bengal will increase to 25 after the formation of these five districts.
(West Bengal CM – Mamata Banerjee)
Here are the new five districts to be introduced in the state:
Basirhat district: Basirhat is currently a city and a municipality in North 24 Parganas district.
Kalimpong district: It would be carved out by bifurcating Darjeeling district in North Bengal.
Burdwan (Industrial) district: The district is to be formed by bifurcating existing Burdwan district.
Jhargram district: Currently a sub-divisional municipality in the Paschim Medinipur district in the Indian state of West Bengal, Jhargram will be carved out of West Midnapore district.
Sundarbans district: The Sundarbans along the Bay of Bengal has evolved over the millennia through natural deposition of upstream sediments accompanied by inter-tidal segregation. The new district shall consist of part of world’s largest mangrove forest.
- As per the online reports, these five new districts will take six months to one year time to come into existence. The state administration needs to get formal permission from the court and create the basic infrastructure for these new districts.
Background
At the time of its creation in 1947, West Bengal was divided into 14 districts – Bankura, Birbhum, Burdwan, Calcutta, Darjeeling, Jalpaiguri, Hooghly, Howrah, Malda, Midnapore, Murshidabad, Nadia, West Dinajpur and 24 Pargana.
- The Government of West Bengal has approved the proposal for introducing five new districts in the state. The total number of districts in West Bengal will increase to 25 after the formation of these five districts.
(West Bengal CM – Mamata Banerjee)Basirhat district: Basirhat is currently a city and a municipality in North 24 Parganas district.Kalimpong district: It would be carved out by bifurcating Darjeeling district in North Bengal.Burdwan (Industrial) district: The district is to be formed by bifurcating existing Burdwan district.Jhargram district: Currently a sub-divisional municipality in the Paschim Medinipur district in the Indian state of West Bengal, Jhargram will be carved out of West Midnapore district.Sundarbans district: The Sundarbans along the Bay of Bengal has evolved over the millennia through natural deposition of upstream sediments accompanied by inter-tidal segregation. The new district shall consist of part of world’s largest mangrove forest.- As per the online reports, these five new districts will take six months to one year time to come into existence. The state administration needs to get formal permission from the court and create the basic infrastructure for these new districts.
Background
At the time of its creation in 1947, West Bengal was divided into 14 districts – Bankura, Birbhum, Burdwan, Calcutta, Darjeeling, Jalpaiguri, Hooghly, Howrah, Malda, Midnapore, Murshidabad, Nadia, West Dinajpur and 24 Pargana.
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