WARANGAL SATURDAY MARCH 27, 2021 `7.00 PAGES 14 CITY EDITION S.C. DISMISSES PLEA TO STAY SALE OF ELECTORAL BONDS The plea was moved by the Association for Democratic Reforms alleging lack of transparency in funding of political parties ‘NO EVIDENCE OF ADVERSE IMPACT ON POLLS’ TRANSACTIONS VIA BANKING CHANNELS The NGO had claimed that the sale of electoral bonds before the Assembly elections would “increase illicit funding of political parties through shell companies”. Dismissing the plea, a bench headed by Chief Justice S A Bobde said there is no evidence that electoral bonds would adversely impact elections. The SC said fresh electoral bonds can be issued from April 1 ■ ■ “The purchase as well as encashment of the bonds, happening only through banking channels, is always reflected in documents that eventually come to the public domain,” the order stated Donors can buy e-bonds from SBI and donate to political parties, which can encash them through their accounts within 15 days `1 crore IS THE HIGHEST DENOMINATION VALUE OF ELECTORAL BONDS 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 Mistry’s ouster kosher, says SC Upholds Tata Sons’ decision to sack him as chairman; Dec 2019 NCLAT order set aside K A N U S A R D A @ New Delhi IN a huge win for Tata Sons, the Supreme Court on Friday ruled that the ouster of former Tata Sons executive chairman Cyrus Mistry was legal, setting aside a 2019 National Company Law Appellate Tribunal (NCLAT) order that directed his reinstatement. A three-judge bench led by Chief Justice S A Bobde said, “There was no oppression of the minority shareholder (Mistry). There was no mismanagement by Tata Sons.” The apex court, however, added it was open for Tata and Mistry to work out their terms of separation. The court answered all the legal questions arising out of this dispute in favour of Tata Sons bringing an end to one of the biggest corporate battles in recent times. “If someone, aggrieved after his removal from office can engage in shadowboxing through the companies controlled by him, he cannot accuse the very same person who chose him as successor to be a shadow director. Someone who gained entry through the very same door, cannot condemn it when asked to exit,” the 282-page judgment read. Welcoming the verdict, Ra- ‘DIDN’T LET STUDENTS LOSE A YEAR’ EXPRESS NEWS SERVICE @ Chennai 10 perish in Mumbai Covid hospital fire EXPRESS NEWS SERVICE @ Mumbai Cyrus Mistry Ratan Tata tan Tata said the order validated the values and ethics that had always guided the Tata Group. “It is not an issue of winning or losing. After relentless attacks on my integrity and the ethical conduct of the group, the judgment upholding Tata Sons is a validation or the values and ethics that have always been the guiding principles of the group. It reinforces the fairness and justice displayed by our judiciary he said in a statement. ,” The ruling came on a plea that challenged the December 18, 2019 NCLAT order which reinstated Shapoorji Pallonji Group scion Cyrus Mistry as the executive chairman of Tata Sons. The Tata-Mistry dispute began when Mistry who succeed, ed Ratan Tata in 2012, was ousted four years later. ‘FAIR COMPENSATION’ NOT ADJUDICATED The bench refused to entertain Cyrus Pallonji Mistry’s plea for fair compensation for his 18.5% stake in Tata Sons saying “the valuation of the shares of SP Group depends upon the value of the stake of Tata Sons in listed equities, unlisted equities, immovable assets etc... Therefore, we cannot adjudicate on the fair compensation”. | P12 AT least 10 coronavirus patients died and several others were injured in a major fire at Sunrise Hospital in Mumbai on Friday The hospital is situ. ated on the top floor of Dreams Mall at Mulund. According to the BMC, the blaze was noticed around midnight on Thursday on the first floor, and it quickly spread to the upper floors. Maharashtra Chief Minister Uddhav Thackeray visited the spot and ordered an inquiry. Thackeray apologised for the incident and said the guilty won’t be spared. “In view of rising Covid-19 cases, permission was given to start new Covid treatment centres or hospitals in Mumbai. It seems there were lapses in fire safety he said ,” Thackeray also announced `5 lakh as financial help to the families of the deceased. Congress minister Aslam Sheikh said he was surprised to see a hospital inside the mall. “The Dream Mall itself has not even got the occupation certificate (OC). Then how was the hospital set up inside the mall? Strict action will be taken against the guilty he added. ,” Telangana groaning under rising debt burden: CAG 8,353 15,536 Amount to be repaid (in $ cr) 23,197 29,176 33,465 TS has to repay `76,262 cr in the next seven years, says the CAG report. Here’s the break-up: 48,301 DEBT MATURITY PROFILE V V B A L A K R I S H N A @ Hyderabad 0-1 1-3 3-5 5-7 7-15 15-30 YEARS A major dilemma before the ‘welfare’ State of Telangana is whether to augment resources or curtail expenditure to meet the increasing debt repayment burden over the next seven years. The Comptroller and Auditor General (CAG) report for the year ended March 2019, which was tabled in the State Legislature on Friday, red-flagged the increasing debt burden and highlighted the ‘rush expenditure’ of the State government. “The maturity profile of outstanding stock of public debt as on March 31, 2019 showed that 46 per cent, `76,262 crore, of the total outstanding debt was to be repaid in the next seven years and the balance thereafter. Greater reliance on market borrowings by the government in recent years has led to an increase in liabilities on account of interest payments. As a result, the interest payments relative to revenue receipts were much higher, at 12.41 per cent as against the target of 8.37 per cent fixed by the 14th Finance Commission,” the CAG report stated. Of the `26,742-crore market bor rowings made in 2018-19, repayment of 51 per cent (`13,718 crore) is due in 2043 and 23 per cent (`6,250 crore) in 2038. This indicates that in 201819, the government has been, borrowing loans with longer maturity of 20 and 25 years, with interest rates ranging from 7.75 per cent to 8.75 per cent, the report said. The internal debt from market and financial institutions, among others, was `1,56,933 crore and loans and advances from the Centre was `8,231 crore, a total P5 of `1,65,164 crore. MUCH like everything else, the biggest education conc l ave, T h i n k E d u , went virtual this year. Union minister for education Ramesh Pokhriyal, in his inaugural address, elaborated on his vision for the National Education Policy and the way ahead. He also spoke about how India was among the very few countries in the world that didn’t let students’ year go waste. “Even when the rest of the world had foregone a year, India ensured that its students didn’t waste it. Around 33 crore students were given education online. Provisions were made for those who couldn’t come online through mediums like radio,” said Pokhriyal. TNIE Editorial Director Prabhu Chawla kicked off the ninth edition of ThinkEdu, saying: “This year, we have brought illuminating discussions and conversations about new EXPRESS NEWS SERVICE In his own words @ Hyderabad ALLAYING fears of a fresh lockdown in Telangana amid a spike in Covid-19 cases, Chief Minister K Chandrasekhar Rao o n F r i d ay r u l e d o u t i t s possibility . “There will be no more lockdowns. We will not take any hasty decision and not close industries. We will take all steps necessary to prevent the spread of Covid-19. Do not worry. We have already suffered financially due to the pandemic. Please wear masks, use sanitisers and maintain physical distancing. Self-discipline is important,” the Chief Minister said in reply to a debate on the Appropriation Bill-2021 in the Assembly. “We are pained to close educational institutions but schools are closed temporarily he said. ,” Telangana performed well in containing Covid-19, while the entire country is stressed about the pandemic, Rao said. The Here are the highlights from KCR’s speech in the Assembly The unemployment allowance to youths could not be given due to Covid. We are committed to this and will implement it We are committed to provide Aasara pensions to those above 57 years old. Orders will be issued shortly for the same Podu lands will be resolved The wide prevalence of anaemia in Mulugu, Vikarabad and Asifabad will be resolved. A group of woman officers is conducting a study on a similar situation in Kerala Salaries of RTC employees will be hiked cinema industry is worried if theatres would be closed again or a lockdown imposed. There is no such proposition, he said. The Chief Minister said testing has increased, with 70,000 tests conducted on Thursday alone. National project tag for Upper Bhadra, but what about KLIS? E X P R E S S N E W S S E R V I C E @ Hyderabad THE Telangana government is upset with the Centre’s reported decision to confer national project status on the Upper Bhadra project in Karnataka, while ignoring its plea for a similar status to the Kaleshwaram or Palamuru-Rangareddy projects. Earlier, the Centre had announced that no irrigation project in the country would get national project status in future. But its recent decision to confer national project status on Upper Bhadra is contradictory to its earlier stance, Irrigation officials pointed out. TS had wanted the Centre to accord national project status either to the Kaleshwaram or Palamuru-Rangareddy projects when Harish Rao was Irrigation Minister. In fact, the State government had repeatedly requested the Centre on this count. But, the then Irrigation Minister, Nitin Gadkari, had informed the TRS MPs in Lok Sabha that the Centre was not according national project status on any irrigation project as it shelved the policy . CONTINUED ON P7 PRIME Minister Narendra Modi on Friday began his twoday trip to Bangladesh by hailing the contributions of Bangab a n d h u S h e i k h M u j i bu r Rahman and the Indian armed forces in Bangladesh’s war of liberation. “Bangabandhu gave up his life for the people of Bangladesh. Today, on the 50th anniversary of Bangladesh’s independence and Bangabandhu’s birth centenary celebrations, I salute his contribution and the contributions of the Indian armed forces, mukti jodhas in Bangladesh’s war of independence,” Modi said at the National Day celebrations of Bangladesh in Dhaka. Saying India and Bangladesh’s future has a lot in store, he said it is important that New Delhi and Dhaka progress together. “The youth of both the countries need to be connected for better ties. I hence an- nounce the setting up of suvarna jayanti scholarships for Bangladeshi students and invite 50 entrepreneurs to visit India,” he said. He presented the Gandhi Peace Prize 2020 awarded posthumously to Mujib, to Bangladesh PM Sheikh Hasina. Modi recalled how he had participated in Bangladesh’s struggle for independence by holding a satyagraha. Meanwhile, a protest against Modi’s trip got violent, leaving CONTINUED ON P9 four dead. Prime Minister Narendra Modi handing over the Gandhi Peace Prize conferred upon Mujibur Rahman, to his daughters Sheikh Rehana (L) and PM Sheikh Hasina, in Dhaka on Friday new horizon to me,” he said. S Vaidhyasubramaniam, Vice-Chancellor, SASTRA Deemed-to-be University was in conversation with Makarand Paranjape, Director, Indian Institute of Advance Study, who spoke about Swami Vivekananda and AI replacing human teaching. “Swamiji is so important because he takes us beyond the idea of education being some sort of livelihood training.” FULL COVERAGE: P7 We successfully conducted JEE and NEET amid the pandemic, which are the country’s largest competitive exams - Ramesh Pokhriyal, Union education minister KCR rules out lockdown amid spike Modi hails Bangabandhu, announces scholarship P U S H K A R B A N A K A R @ New Delhi ideas from India’s finest thinkers — scientists, businessmen and storytellers.” In a different session, Subhash Kak was in conversation with Indic scholar Dushyanth Sridhar and senior journalist Kaveree Bamzai. Kak spoke about how he sifted through various layers of Sanskrit literature to find a lot of subjects, including astronomy , that had been lost for thousands of years. “It opened a whole Mess charges of hostlers will be hiked Existing Act will be amended, if necessary, to give complete rights over assigned lands to SCs so that they can sell their lands Jr Panchayat secretaries will be given full salary and be on probation for 4 yrs 1.53 L bene- ficiaries of govt schemes in N’sagar Assembly segment So far, 10.85 lakh people have been administered the Covid-19 vaccine in Telangana. Though the GDP of several countries has been down due to the pandemic, Telangana’s GSDP is better, he said. WAVE OF WORRY Daily Covid cases in State cross 500-mark EXPRESS NEWS SERVICE @ Hyderabad THE impact of the second Covid-19 wave has been so harsh that with every passing day, Telangana is recording a new high in terms of fresh infections. On Thursday, the State saw 518 cases, of which 157 were from the GHMC limits. The active cases stand at 3,995, of which 2,228 have been hospitalised, making it one of the highest hospitalisations this year. The situation has sent alarm bells ringing for State officials, who are attempting to track the contacts of every positive case. But the situation refuses to improve. In Medchal and Rangareddy the numbers , continue to stay at 44 and 38 P5 cases, respectively .
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