THRISSUR l SATURDAY l AUGUST 24, 2019 l `7.00 l PAGES 16 l CITY EDITION SINDHU, PRANEETH CONFIRM MEDALS AT WORLD C’SHIPS World No 5 bests Tai Tzu-ying 12-21, 23-21, 21-19 in quarterfinals, while Indonesian Jonatan Christie went down 24-22, 21-14 OF CONSISTENCY AND A LONG WAIT With her victory, Sindhu sealed her third Worlds medal on the trot. Praneeth, on the other hand, is now the first Indian male shuttler since Prakash Padukone in 1983 to ensure a podium finish in the tournament. This will also be the first time that India are medalling in both the men’s and the women’s categories at the Worlds 5 TIME TO GO FOR GOLD ■ ■ ■ Sindhu is the only Indian to have won silver at the Worlds, having done so in the last two editions She will be up against World No 3 Chen Yu Fei in the semifinal Praneeth, on the other hand, will face a tough task, taking on World No 1 Kento Momota in his last-four clash MEDALS WON BY SINDHU AT WORLD’S, JOINT BEST WITH ZHANG NING CHENNAI ■ MADURAI ■ VIJAYAWADA ■ BENGALURU ■ KOCHI ■ HYDERABAD ■ VISAKHAPATNAM ■ COIMBATORE ■ KOZHIKODE ■ THIRUVANANTHAPURAM ■ BELAGAVI ■ BHUBANESWAR ■ SHIVAMOGGA ■ MANGALURU ■ TIRUPATI ■ TIRUCHY ■ TIRUNELVELI ■ SAMBALPUR ■ HUBBALLI ■ DHARMAPURI ■ KOTTAYAM ■ KANNUR ■ VILLUPURAM ■ KOLLAM ■ WARANGAL ■ TADEPALLIGUDEM ■ NAGAPATTINAM ■ THRISSUR ■ KALABURAGI Strong stimulus to wake up elephant FM’s press meet appeared like a mini-Budget Major relief measures for MSMEs, banks Auto sector gets its due Additional surcharge on foreign investors removed Angel tax relief Budding firms can now raise big money without the fear as angel tax has been withdrawn for govt registered start-ups This was a major dampener in the Budget, which spooked foreign portfolio investors who deserted the Indian bourses for safer markets. The relaxation could see them coming back Measures to end tax terrorism All notices, summons and orders from income-tax authorities will be issued through a centralised computer system to avoid harassment and corruption by tax officers. Individual letters / notices issued by officers will be invalid E70,000 crore to be injected through PSU banks This additional credit infusion will enable banks to lend more to small traders, MSMEs and retail borrowers, which will in turn perk up consumption and revive market sentiments. Plus, PSU banks will pass on RBI rate cut benefits pronto. EMIs, too, will come down as interest rates on housing and auto loans will be directly linked with repo rate Empowering bank officials Fast cash for MSMEs All pending GST refunds will be cleared within 30 days; future refunds will be made within 60 days Govt turns buyer to boost auto sector Ban on purchasing new vehicles to replace on old ones in govt departments lifted. Plus, all vehicles bought between now and March 2020 will get 30% depreciation benefit (against 15% before). This will bring down your net income tax liability BIG TAKEAWAYS These measures will provide the immediate relief that the industry was seeking Venu Srinivasan, Chairman, TVS Motor Company To support honest decision-making and to prevent harassment for genuine commercial decisions by bankers, CVC has issued directions that Internal Advisory Committee (IAC) in banks to classify cases as vigilance and non-vigilance. Decisions of the IAC and bank CVO/ DA will be treated as final CSR norms eased Corporate Social Ressponsibility violations by corporates will not be treated as a criminal offence Instant removal of FPI tax is a very short-term measure with long-term impact Ashishkumar Chauhan, managing director and CEO, BSE A N U R A D H A S H U K L A @ New Delhi GIVING a mega booster shot to India’s depressed economy, Finance Minister Nirmala Sitharaman on Friday announced a plethora of measures ranging from tax relief to cash injection into public sector banks to improve liquidity . In what appeared to be a mini-budget, the FM’s announcements included rolling back of the vexatious surcharge on foreign portfolio investors, withdrawing angel tax on start-ups and a package of measures for the struggling auto sector firms, MSMEs and banks. “India will exempt foreign investors from the super-rich tax. An additional surcharge on domestic investors will also be withdrawn,” said Sitharaman at a press conference here on Friday. “The pre-Budget position is restored,” she added. The surcharge on foreign portfolio and domestic investors was removed by withdrawing it on long- and short-term capital gains. However, Sitharaman ruled out any immediate review of the super-rich surcharge, stating that would be looked into only in 2022. F P I s h av e p u l l e d o u t `12,105.30 crore from Indian capital markets so far this month. This was on top of the net `12,418.73 crore they withdrew last month. To mitigate genuine difficulties of start-ups and their investors, Sitharaman decided to withdraw the controversial angel tax, which was stifling startup funding. The tax imposed by Section 56(2)(viib) of the Income Tax Act imposed a 30% tax on money raised by a startup during a funding round, which was considered more than its fair market value. Officials said the tax roilbacks would cost the exchequer `1,400 crore. A dedicated cell under a member of CBDT, too, will also be set up for addressing the problems of start-ups. These measures were a part of her 32-point measures to boost the economy, which are showing signs of slowdown. India’s GDP growth in the January-March quarter slid to a near 5-year low of 5.8%, and most analysts expect data due later this month to show that growth in April-June would be in the 5.5-6 per cent range. The FM’s move comes in the backdrop of rising concerns about the economy Moody’s In. vestors Service on Friday cut India’s GDP growth forecast for 2019 calendar year to 6.2% from 6.8% forecast earlier. Sabarimala: Don’t antagonise faithful, CPM tells cadre EXPRESS NEWS SERVICE Sabarimala campaign @ T’Puram The CPM leadership is learnt to have decided not to go for further campaigning with its stance on the Sabarimala issue. IN a major rethink on its stance on faith-related issues in the wake of the Sabarimala fiasco, the CPM has asked cardholders - restrictions and party cadre and followers not regulations on religious matto antagonise the faithful. In a ters - would continue. clear indication that the party The rethink comes in the wants to reach out to the wake of the drubbing in the faithful, CPM state secretary last Lok Sabha election and Kodiyeri Balakrishnan asked the feedback that party supthe party cadre not to abporters were unhappy with stain from local relithe stance adopted by g i o u s e ve n t s a n d the party and the govfunctions. ernment on the SabaKodiyeri also admitrimala issue. ted to the erosion of The party, which CPM’s support base and held marathon discusKodiyeri called for an overhaul in sions on what went the working of party Balakrishnan wrong, is now making a units, from the branch last-ditch effort to bring committee to the state level. back the scores of faithful Addressing the media after who were originally part of the party’s six-day leadership the party’s core support base meet here on Friday Kodiyeri in the state. It is reliably , said the party is not opposed learnt the party is not against to the faithful. The lower frac- its cadre taking part in temple tions can take appropriate de- and church committees, to cisions regarding the role to win back people’s trust. This be played in local religious would help bring back the festivals. However, the CPM cadre who migrated to the chief made it clear that the Sangh Parivar, following the code of conduct for party Sabarimala fiasco. ● More on P5 PC to be in CBI custody for Keralites gain notoriety for smuggling drugs to Gulf countries weekend; ED has to wait 210 93 for SC’s call on Monday E X P R E S S N E W S S E R V I C E @Kochi EXPRESS NEWS SERVICE @ New Delhi THE Supreme Court on Friday granted former Union Minister P Chidambaram protection from arrest by the Enforcement Directorate (ED) in the INX Media scam till Monday, but refused to give him any relief in the CBI remand, which will end on the same day . However, bench of justices R Banumathi and A S Bopanna agreed to hear a fresh petition challenging the trial judge’s order granting four days of custody to the CBI. During the hearing, Solicitor General Tushar Mehta who appeared for the CBI and the ED said the plea for anticipatory bail on the CBI matter became infructuous since Chidambaram had already been arrested. However, senior advocate Kapil Sibal, representing Chidambaram, said the matter for anticipatory bail was mentioned on Wednesday. Just because it could not be taken up, the CBI arrested Chidambaram later in the day he said, arguing that he , still has the right to be heard. On the plea against the ED, Sibal claimed that the Delhi High Court’s single judge had copy-pasted verbal notes of the investigating agency as observation in its order. This clearly showed bias, he argued. Mehta argued that custodial interrogation was necessary as Chidambaram was evasive. “At least 10 properties and 17 offshore bank accounts is what we have found so far, which have direct or indirect link to Chidambaram. We have electronic evidence, email exchanges to trace the route of the illicit, illegal transfer or money Shell compa. nies were created by those having close connections with Chidambaram to launder money,” Mehta added. Abhishek Singhvi, appearing for Chidambaram, said, “How can the HC judge refer to AircelMaxis case when he was hearing only the INX case?” AT a time when the state is witnessing a spurt in drug abuse cases, Keralites are also gaining notoriety for smuggling narcotics and psychotropic substances to Gulf countries. Considering the gravity of the issue, the Customs Preventive unit has decided to enh a n c e s u r ve i l l a n c e a n d screening measures at airports in the state to prevent @Kanhangad FOUR Class XII students jabbed a junior student with the key of a motorcycle and pen, and assaulted him, for allegedly turning up at the school without shaving. The incident took place during lunch time on Thursday . Mohammed Afreed, a Class XI student, is the latest victim of ragging at C H Muhammed Koya Smaraka Government Vocational Higher Secondary School in Kottapuram. He was admitted in hospital and later discharged. He has gone home wearing a neck brace, said Nileshwaram police. The school, tainted by a series of ragging incidents last year, has taken the incident seriously . On a complaint filed by school principal Abdul Latheef, Nileshwaram police have booked four Class XII students for ragging. ALARMING STATS Indians are in jail in Qatar this year for smuggling drugs 8,189 Keralites were arrested in Qatar this year for smuggling drugs Indians are lodged in jails abroad for various crimes ment. Qatar is currently providing visa-on-arrival facility for Indian citizens. “The list comprises details of 210 Indian citizens caught for contraband smuggling from January to July this year. Of this, 93 are from Kerala alone. If these smuggling cartels are not contained, Qatar may be forced to reconsider its visa-on-arrival facility for India,” said a source. Saudi Arabia, Kuwait and the UAE also are concerned about rising drug smuggling incidents involving Indians, especially people from Kerala. The Customs Department has decided to follow up the matter seriously and engage its special units to crack down on ● More on P4 drug smugglers. Was jailed because of Thushar: NRI bizman A J AY K A N T H @ Kochi PIOUS MOMENT Children dressed up as little Krishna take part in the Sree Krishna Jayanti procession in Kozhikode on Friday | T P SOORAJ Junior assaulted for not shaving; four Class XII students booked for ragging EXPRESS NEWS SERVICE Gulf countries concerned about increasing number of Indians caught for smuggling contraband CHEQUE CASE At least 10 properties and 17 offshore bank accounts is what we have found so far, which have direct or indirect link to Chidambaram - Solicitor General Tushar Mehta who appeared for CBI and ED passengers from smuggling out contraband. According to sources in the External Affairs Ministry, recently Qatar raised the issue with the Indian Ambassador about the increasing number of Indian citizens getting caught at Doha airport while attempting to smuggle in drugs, prohibited medicines and foreign currencies. A list of people caught for smuggling contraband was handed over to the Indian Govern- An officer said they have been charged with Section 341 (wrongful restraint), Section 323 (voluntarily causing hurt), and Section 324 (voluntarily causing hurt by dangerous weapons) of IPC; and Section 4 of Kerala Prohibition of Ragging Act, 1998. If convicted, the boys may face up to three years in imprisonment, and a fine of up to `10,000. Meanwhile, the school has placed the four students under suspension, said the principal. EXPRESS READ Intel report on LeT: Kerala on high alert CBL to kick off on August 31 Kochi: Kerala Police are on high alert after intelligence reports that six Lakshar-eTaiba (LeT) terrorists have sneaked into Tamil Nadu from Sri Lanka via sea route. Based on the alert, State Police Chief Loknath Behera has sent a directive to all district police chiefs to exercise extreme caution and take necessary measures to strengthen surveillance, especially at bus stands, railway stations, airports and places of worship. Alappuzha: The Tourism Department and the Nehru Trophy Boat Race (NTBR) Society have begun steps to conduct the postponed IPL-modelled Champions Boat League (CBL). The CBL will kick off on August 31 with the Nehru Trophy Boat Race at Punnamada. The NTBR, scheduled to be held on August 10, was postponed in the wake of the recent flood and three competitions have to be rescheduled. FOR Dubai-based young entrepreneur Nazil Abdullah, it was a last-ditch effort to regain at least some of what he has lost when he decided to move against Bharath Dharma Jana Sena (BDJS) president Thushar Vellappally with a cheque bounce case in the United Arab Emirates (UAE). When asked about the case, the 38-yearold engineering graduate from Mathilakam in Kodungalloor narrates a tale of suffering, treachery and intimidation, and says Thushar’s company Boeing Constructions refused to make payments to him for a work that Nazil’s firm sub contracted from Thushar’s company . “I lost everything and was in jail for more than six months because of the breach of trust committed by Thushar. I knew that I was taking on a bigwig who has immense influence with the state and Union governments. I am legally strong because I have all documents to support my claim. I decided to move against him legally because both Thushar and his father Vellappally Natesan were not ready to help me when I repeatedly approached them,” Nazil said in a WhatsApp clip which he sent to TNIE. Thushar was arrested in Ajman, UAE on Thursday in connection with the chequebounce case and later released on bail. Efforts are currently on for an out-of-thecourt settlement in the case. Reports said after talking over phone, Thushar and Nazil met at a hotel where Thushar has been staying after being released on bail. Confirming that talks are on for a possible settlement between him and Nazil, Thushar on Friday claimed that the case against him was the result of a misunderstanding. ● More on P6 I am legally strong because I have all documents to support my claim. I decided to move against Thushar legally because both he and his father were not ready to help me when I repeatedly approached them Nazil Abdullah While I shut down the company, Nazil landed in serious trouble. I wasn’t responsible for his sufferings. Since he understood my innocence, we agreed to settle the issue amicably Thushar Vellappally
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