THRISSUR l WEDNESDAY l SEPTEMBER 04, 2019 l `7.00 l PAGES 16 l CITY EDITION SENSEX TANKS 700 POINTS, RUPEE AT NINE-MONTH LOW Incessant flow of dismal economic indicators saw benchmark indices crash 2% and the rupee tumble 97 paise to 72.39 / $ PANIC TRIGGERS MASSIVE SELL-OFF ALL SECTORAL INDICES IN THE RED After plunging 867 points during the day, the BSE Sensex closed 769.88 points lower at 36,562.91 on Tuesday. The broader Nifty, too, sank 225.35 points, or 2.04 per cent, to settle at 10,797.90. The benchmark indices also saw their biggest intra-day plunge in nearly 11 months. Massive selloffs in equities saw investor wealth eroding by I2.55 lakh crore. ■ All sectoral indices ended in the red. BSE metal, energy, consumer durables, telecom, bankex, finance, oil and gas, realty and capital goods indices settled 3.23 per cent lower ■ Broader BSE midcap and smallcap indices closed 1.65% lower ■ Top losers in the Sensex pack included ICICI Bank, Tata Steel, et al Elsewhere EUROPEAN, US EXCHANGES WERE ALSO TRADING LOWER IN EARLY SESSIONS 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 S A N A S H A K I L @ Chennai JAMMU & KASHMIR With loads of CBMs, Shah co-opts panchs Union home minister assures delegation of land security, jobs to youth, restoration of mobile network A group of sarpanchs from J&K after meeting Home Minister Amit Shah at North Block in New Delhi on Tuesday | SHEKHAR YADAV BIG ASSURANCE ON ACQUIRING LAND IN STATE K2 LAKH LIFE INSURANCE, SECURITY COVER REACHING OUT TO APPLE GROWERS GOVT JOBS TO 4-5 YOUTH FROM EACH VILLAGE Land belonging to locals will not be taken away. Instead, government land would be used for the establishment of industries, hospitals and educational institutions All elected panchs and sarpanchs in J&K will get police security and insurance coverage of I2 lakh each in view of the threat to their lives from terrorists Govt to try to procure all apples grown in the state to protect producers from facing difficulties. Similar provisions for other fruit growers too Govt promises jobs to at least 4-5 youth in each village of J&K. Also Mobile phone services likely to be restored in the region within the next 20 days I told the Home Minister people are expecting statehood to be restored on a priority basis. Shah said statehood will be provided as soon as normalcy is restored Mir Junaid, youth leader from Kupwara’s Langate Black money: ED arrests K’taka Congress strongman Shivakumar EXPRESS NEWS SERVICE @ Bengaluru / New Delhi Quizzing over, but PC’s date with CBI still on New Delhi: The CBI has no further questions for former Union minister P Chidambaram, who is under its custody in the INX Media case, yet he will remain its guest till Thursday as the Supreme Court on Tuesday wanted status quo to continue. Later in the day, the trial court formalised it by extending his CBI custody by two more days. From Chidambaram’s perspective, it means the possibility of him being sent to Tihar jail has been put off. SENIOR CONGRESS leader and Water Resources Minister in the previous Congress-JD(S) coalition government, D K Shivakumar, was on Tuesday arrested by the Enforcement Directorate in New Delhi under the Prevention of Money Laundering Act for alleged tax evasion and hawala transactions. Shivakumar was being grilled for the past four days in connection with an alleged money laundering case involving `8.83 crore. On Tuesday night, the ED arrested him saying he was not cooperating with the probe. “We had questioned him for last four days. Initially he was cordial, but after , two days, he was not cooperating and Flood & crunch: State mulls to cut plan fund by 45% METRO TRIP TO THYKOODAM Health Minister K K Shylaja, actors Rima Kallingal, Muthumani and Aditi Ravi along with nurses from city hospitals ride on Kochi Metro Chief Minister Pinarayi Vijayan inaugurates the stretch between Maharaja’s College and Thykoodam on Tuesday The groundbreaking ceremony of the first boat jetty for the L747 crore water metro project was also held on Tuesday 5 new stations along the new stretch Passenger service along the stretch will begin on Wednesday at 6am Union Minister says Kochi Metro’s phase II to Kakkanad under Centre’s consideration Bypoll around, govt recommends CBI probe in Titanium graft case E X P R E S S N E W S S E R V I C E @ T’Puram IN what appears to be a shrewd political move ahead of the Pala bypoll, the Left Government has recommended a CBI investigation into the 2006 Titanium graft case involving former chief minister Oommen Chandy, Opposition Leader Ramesh Chennithala and ex-minister V K Ibrahim Kunju. While Chandy said he is ready to face any probe, Chennithala termed it a politically-motivated move ahead refused to answer many key questions. Finally, we got the go-ahead for the arrest as he was not cooperating with the probe,” an ED official said. The ED had in September 2018 registered a case against Shivakumar and his four associates - Sachin Narayan (business associate), Sunil Kumar Sharma (proprietor of Sharma Transport), Anjaneya Hanumanthaiah (employee at Karnataka Bhavan, New Delhi) and N Rajendran, who is a former state government employee), under the PMLA based on a chargesheet filed by the Income Tax Department, Karnataka & Goa. “The ED had examined the chargeshee, to verify if it contained any material for the agency to take cognizance of under the PMLA,” sources told Express. of the byelection. The Titanium graft case pertains to the alleged corruption to the tune of `66 crore in the implementation of a `256.1-crore pollution control project, in which an effluent treatment plant was set up in the Travancore Titanium Products (TTP), a public sector company . The Vigilance and Anti-Corruption Bureau (VACB), which probed the case, suspects shady inter-state and international deals. ● More on P6 E X P R E S S N E W S S E R V I C E @ T’Puram FACED with looming financial crisis, which followed the back-to-back flood, Kerala is mulling another round of austerity measures and plan-fund cut for the second straight year, dealing a major blow to the state’s development dreams. According to a Planning Board source, the mid-term financial review meeting has suggested to cut plan fund expenditure by around 45 per cent.The decision is likely to impact a slew of big-ticket projects announced in the last budget as part of rebuilding the state following last year’s flood. The key sectors which are expected to affect are roads infrastructure, transport projects, agriculture, tourism and people welfare projects. The state government will adopt a two-way approach. While the Planning Board will direct the department heads to re-prioritise their projects in the remaining period of the fiscal, the finance secretary will ensure the projects are executed by strictly adhering to the norms and without any cost escalation. ● More on P6 STIR CONTINUES Muthoot: We’ve no option, but to close down E X P R E S S N E W S S E R V I C E @ Kochi THERE is no respite for the stir between CITU and the management of gold loan company Muthoot Finance Ltd. The managing director told media persons on Tuesday that 300 forcibly shut branches will be closed in a phased manner. “There are over 600 branches for the company in Kerala and 300 of them were forcibly shut by CITU workers. We have received the approval from our board to move ahead with the closing down process if the shut branches remain closed. We are left with no other choice,” said George Alexander, managing director, Muthoot Finance Ltd. According to management offi- cials, only 4 per cent, out of 10 per cent, of the business is taking place in Kerala which is a major loss for the company. “It has been over 15 days that the branches have remained closed as the union workers are not allowing the employees to open them. We are incurring a loss as people are not working here and therefore it is with much pain we are ● More on P5 closing the branches. MOBILE phone services will be restored within 20 days, locals’ land will not be “taken away” by outsiders and five people from each village will get government jobs, Union Home Minister Amit Shah told representatives from Jammu & Kashmir on Tuesday . Shah told them that Jammu & Kashmir’s statehood would be restored as soon as the situation normalises. He also announced an insurance coverage of `2 lakh for each ‘panch’ and ‘sarpanch’ in the newly created Union Territory . Shah, Ministers of State for Home Nityanad Rai and GK Reddy Minister of State in the , Prime Minister’s Office (PMO) Jitender Singh, and home ministry officials met three delegations from J&K — panchayat members, representatives of fruit growers and a group of people displaced from Pakistan-occupied Kashmir. Home ministry sources told TNIE that Shah assured apple growers that the government was considering procuring nearly 100% apple produce of the state to ensure apple growers don’t suffer any losses due to the restrictions imposed in the region. Shah made similar assurances to other fruit growers who met him and narrated the problems they are facing due to shutdown in the region. On August 28, J&K governor Satya Pal Malik had said NAFED would commit over `5,000 crore for procuring over 50% of apple produce of the state and this will benefit over seven lakh apple growers. Amid concerns by locals that the demographics of J&K may be affected because of revocation of the special status of J&K, the minister told the delegation of about 30 Sarpanchs that the government would ensure lands of locals are not “taken away” by anybody . “Shah reassured the representatives that nobody’s land would be taken away and government land would be used for the establishment of industries, hospitals and educational institutions,” an official statement said. MHA said establishment of new institutions would create employment opportunities for the locals and enhance tax revenues for the state, which in turn would be used for the welfare of the people. Telangana Bar protest over judge’s transfer No order yet on CJ transfer SC collegium discussed the proposed swap between Justice Tahilramani and Justice Ajay Kumar Mittal, no formal order was issued R RAJASHEKAR RAO & KANU S A R D A @ Hyderabad/New Delhi IN a indication of growing disquiet over decisions taken by the Supreme Court collegium, the Telangana High Court on Tuesday witnessed strong protests from members of the Bar association against the transfer of Justice P V Sanjay Kumar, senior most judge after the chief justice, as a judge of Punjab and Haryana High Court. The association urged its members to abstain from court work across the state till Sept 7. The legal community is already upset over the proposed transfer of Madras High Court Chief Justice Vijaya Kamlesh Tahilramani to Meghalaya High Court — from a court that has a sanctioned strength of 75 to one whose optimum strength is three. On Tuesday, the collegium is learnt to have discussed a swap between Justice Tahilramani and Meghalaya High Court Chief Justice Ajay Kumar Mittal, but no formal order was issued. Also, the collegium’s cherrypicking for promotions has been questioned within the Supreme Court itself. For example, Justice Sanjay Kishan Kaul last week wrote to the Chief Justice of India wondering why the CJ of Bombay HC and CJ of J& Kashmir HC were ignored.
Express Publications (Madurai) Limited publishes the prestigious English language newspaper The New Indian Express from 21 centres in Tamil Nadu, Karnataka, Andhra Pradesh, Kerala and Orissa.
Express Publications (Madurai) Ltd. also publishes the Tamil daily Dinamani, Cinema Express (Tamil) and Malayalam Vaarika (Malayalam). Through a sister company, Kannada Prabha Publications Ltd., it publishes the Kannada daily Kannada Prabha.
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