chennai l monday l march 20, 2023 l `9.00 l PAGES 16 l late city EDITION UBS offers to buy crisis-hit Credit Suisse for $1 billion The Swiss government is planning to change the country’s laws to bypass a shareholder vote on the transaction, the Financial Times reported Ripple effects to be felt globally Offer price a fraction of market value Swiss authorities are scrambling to rescue the 167-year-old bank, which is among the world’s largest wealth managers, before financial markets reopen on Monday. As one of the 30 systemically important global banks, Credit Suisse’s failure would ripple throughout the entire financial system. Reports said UBS offered 0.25 Swiss francs ($0.27) per Credit Suisse share ■ The buy offer is just a fraction of Credit Suisse’s current market value, considering the bank’s closing price on Friday was 1.86 Swiss francs ■ Credit Suisse shares lost a quarter of their value in the last week ■ The development comes at a time when banking stocks globally have been battered with the S&P Banks index falling 22% $153 billion Emergency liquidity sought by u.s. banks from the Federal Reserve CHENNAI ■ MADURAI ■ VIJAYAWADA ■ BENGALURU ■ KOCHI ■ HYDERABAD ■ VISAKHAPATNAM ■ COIMBATORE ■ KOZHIKODE ■ THIRUVANANTHAPURAM ■ BELAGAVI ■ BHUBANESWAR ■ SHIVAMOgGA ■ MANGALURU ■ TIRUPATI ■ TIRUCHY ■ TIRUNELVELI ■ SAMBALPUR ■ HUBBALLI ■ DHARMAPURI ■ KOTTAYAM ■ KANNUR ■ VILLUPURAM ■ KOLLAM ■ TADEPALLIGUDEM ■ NAGAPATTINAM ■ THRISSUR ■ KALABURAGI The mangled minivan after the accident | Express 6 killed, 3 hurt as lorry rams minivan on NH in Tiruchy E x p r e ss N e ws Se r v i c e @Tiruchy SIX people, including a 10year-old girl, were killed on the spot and three others injured in an accident at Thiruvasi in Tiruchy on National Highway 381b connecting Tiruchy and Namakkal in the early hours of Sunday . According to police, the minivan with eight passengers and a driver was travelling from Edappadi in Salem to a temple in Kumbakonam when a lorry from Tiruchy, laden with logs, collided with it head on. A police official suspected the lorry driver’s attention might have strayed thereby causing the collision around 3.30 am. Vathalai police registered a case and arrested the lorry driver, 43-year-old P Senthilkumar of Chinnavalayam near Jayankondam in Ariyalur. Senthilkumar was transporting the logs to a paper mill, police added. He has been booked under Sections 279 (rash driving or riding on a public way), 337 (causing hurt by act endangering life or personal safety of others), and 304 (A) (causing death by negligence) of the IPC. The deceased have been identified as P Anandhayi (57) of Sankagiri, K Muthusamy (58), G Thavana Shree (10), R Thirumoorthy (43) of Namakkal, K Appu alias Murugesan (60) of Namakkal and the car’s driver A Santhosh of Edappadi. Police said a commuter passing by called for help for the three survivors in the minivan. G Sakunthala (27), P Thirumurugan (29) of Salem as well as M Dhanapal (36) were shifted to the Tiruchy Mahatma Gandhi Memorial Hospital for treatment. Police said they are recovering. siblings killed as car hits bike on flyover Two siblings died near Medavakkam allegedly after a rental cab coming from behind rammed their two-wheeler on a flyover on Saturday. The sister was flung off the flyover. Her brother was dragged for a few metres on the flyover, police said | P3 Rahul seeks time after police knock at his door Cong raps request for info on his claim on sexual assault of women P r ee t h a N a i r a n d U JWA L JA L A L I @ New Delhi Senior Congress leader Rahul Gandhi on Sunday sent a four-page letter to the Delhi Police hours after a police team visited his residence to question him on his claims during his Bharat Jodo Yatra in J&K on January 30 that “women are still being sexually assaulted”. In his letter, Rahul sought 8-10 days to furnish a detailed reply. On March 16, the Delhi Police had served a notice on him seeking information on the alleged victims. In his 10-point reply, Rahul wondered about the Delhi Police’s urgency to visit him thrice in a week, though the Yatra concluded on January 30. He asked whether the notice was in anyway connected with the questions he has been raising inside and outside Parliament on the Adani issue. Speaking to reporters outside Rahul’s house, Special CP (Law and Order) Sagar Preet Hooda said, “If there is any victim, who could also be a resident of Delhi, we want to provide help as early as possible. Even if the victim is from out- Senior police personnel (L) emerging from Congress leader Rahul Gandhi’s residence in New Delhi on Sunday; and Rahul driving away later | Parveen Negi side Delhi, we could immediately initiate legal action.” Soon after the police team landed at his doorstep, several Congress leaders launched scathing attacks on the BJP-led Centre terming the action as the “worst kind of political vendetta, harassment, and intimidation”. Calling it a diversionary tactic, Congress president Mallikarjun Kharge said that the party will continue questioning the government on the Adani issue. Senior lawyer and Congress MP Abhishek Singhvi said after serving the notice on March 16 along with a two-page questionnaire, the Delhi Police had gone back without raising any Amritpal’s car found; 4 aides taken to Assam H a r p r ee t B a j w a @ Chandigarh With pro-Khalistani activist Amritpal Singh on the run, the Punjab Police registered two fresh cases again him and his aides, one for breaking barricades while he was fleeing on Saturday and the other on the recovery of a rifle from his abandoned car. Also, 34 more people associated with him were arrested across Punjab on Sunday , taking the total number of such arrests so far to 112. For reasons that were not immediately clear, four of his close aides were taken to Dibrugarh Central Jail in Assam by a special flight. Amritpal’s cavalcade was intercepted while he was on his way to Muktsar Sahib to launch a Khalsa Wahir (religious procession) on Sunday . The state government extended the suspension of mobile internet and SMS services till Monday noon to keep social media out of reach of mischief makers. Besides, security forces took out flag marches at several places led by senior officials in the state. Also, peace committee meetings were organised in all districts. Sources said the authorities have detained Amritpal’s alleged financer Daljeet Singh Kalsi in Gurugram. Kalsi is not just an actor and twitter A man taking down the Tricolour at the Indian High Commission in UK Flag brought down A few Khalistani supporters brought down the Tricolour at the Indian High Commission in London on Sunday, demanding Amritpal Singh’s release. “The senior-most diplomat in the British High Commission was summoned and this issue was raised,’’ the MEA said | P7 film producer, he is also said to be the self-styled preacher’s advisor. During the search operations, an abandoned ISUZU was found, which was Amritpal’s getaway vehicle. A .315 bore rifle along with 57 live cartridges, a sword and a walkie-talkie set was recovered from car. Amid claims in some sections that Amritpal is under illegal detention, the Punjab and Haryana HC issued notice to the government based on a habeas corpus petition. objection when Rahul sought 8-10 days to put together the details. Yet, they came back on Sunday wih a similar questionnaire, he said, adding, “it’s unprecedented and to create fear and intimidation after having waited for 45 days.” Party leader Jairam Ramesh said, “This is a deliberate attempt to divert attention. We will stick to the demand of a JPC on the Adani issue.” In his pushback, BJP president J P Nadda accused Rahul of overstepping all bounds of democracy and said he should be sent packing “lock, stock and barrel”. “Those who do not believe in democracy have no place in it,” Nadda said. HC okays AIADMK poll, result not before Mar 24 R SIVAK U MAR @ Chennai THE Madras High Court on Sunday allowed the AIADMK to go ahead with its poll to elect its general secretary but the party cannot announce the results until March 24. Both the O Panneerselvam and Edappadi K Palaniswami factions of the party celebrated this as a victory for their sides. After hearing the arguments from the respective counsels for the sides of former chief ministers OPS and EPS at a special sitting of the court, Justice K Kumaresh Babu passed interim orders to allow the poll process to continue. However, when the judge asked if the results can be withheld until all petitions are heard, the counsels for the EPS side agreed. As the deadline for filing of nominations to the post closed at 3 pm, EPS was the sole contender, causing his supporters to claim the inevitable had merely been delayed. The judge said he would hear all the petitions on March 22, although it’s a holiday and pro, nounce orders on March 24. Till then declaration of results is to be held back, he said. EPS’ victory will depend on whether the court validates the resolutions adopted at the party’s general council meet last July 11. FAYA Z WA N I @ Srinagar OVER three years after Article 370 was read down, Jammu and Kashmir has got its first foreign direct investment (FDI) project from Dubai-based Emaar Group, the master developer of the world’s tallest building Burj Khalifa. On Sunday, J&K Lieutenant Governor Manoj Sinha performed the groundbreaking ceremony for the Mall of Srinagar, a mega mall to be spread over 10 lakh square feet at Sempora, Srinagar. Launched by Emaar and Magna Waves Buildtech, the mall is expected to become operational by 2026. It will be the biggest mall in Jammu and Kashmir having over 500 shops. The mega mall, which is expected to provide jobs to over 13,000 youth, will include six multiplexes, a five-star hotel, J&K Lt Governor Manoj Sinha performs rituals during the foundation stonelaying ceremony of the ‘Mall of Srinagar’, in Srinagar on Sunday | ANI and a multi-use commercial and residential complex. Emaar will also build IT towers in Srinagar and Jammu. “These three projects will be developed at a cost of `500 crore,” said Sinha. If she is not boxing or studying, she is embalming bodies of the deceased. Of course, like boxing, embalming bodies too is her passion and finds it calming. Danisha Mathialagan comes across as a regular 25year-old. She looked high-spirited while revealing her fascinating journey on and off the boxing ring. Part of the Singapore national boxing team in outing inside the ring at the Indira Gandhi Sports Complex in New Delhi on Sunday. “I have embalmed close to 300 bodies. I Sh ya m s un da r N @ VELLORE EPS sole contender for gen secy post As the filing of nominations for the election to the post of AIADMK general secretary closed at 3 pm on Sunday, former CM and party interim general secretary remained the sole contender | P4 The HC refused to grant an interim stay as sought by plaintiffs on the July 11, 2022 GC meet resolutions, when EPS was appointed interim general secretary but it permitted them , to approach if any urgency emerged.  P5 Sinha asked the Emaar group to look at the possibility of completing the project ahead of the three-year deadline. “If the Parliament complex can be completed within 1.5 years, we can certainly expect this to be completed earlier,” the lieutenant governor said. Emaar CEO Amit Jain, Bollywood actors Vivek Oberoi and Neetu Chandra were among those present at the foundation laying ceremony . Amit Jain said the mega mall is one of the group’s milestone projects, which will have a positive impact on J&K’s overall economy . “This will create regular employment. Besides, goods will come and logistics will increase. Jobs at airports will increase. The transportation will increase. The food industries will come and invest here,” added Jain. AN assistant manager at SBI’s Retail Assets and Small and Medium Enterprises City Credit Cell (RASMECCC) was arrested on Sunday for allegedly misappropriating `34.10 lakh paid by 137 customers towards insurance premium for education loans. His motivation? Police said he was trying to make up for the `15 lakh he’d lost playing online rummy . According to the district crime branch (DCB) of Vellore police, 38-year-old M Yogeshwara Pandian, a native of Virudhunagar district, was working at the RASMECCC branch in Gandhi Nagar, Katpadi from July 2018. He had allegedly been siphoning funds paid by customers towards the insurance premium of education loans. After a complaint was raised about the missing premium amount, the bank placed Pandian on suspension in April 2022 and opened an inquiry It was found Pan. dian had misappropriated `34,10,622 lakh of 137 customers, said DCB sources. DCB sources said Pandian had forged documents and transferred the misappropriated funds to his personal accounts in Canara Bank and Bank of Baroda. “He spent his monthly salary gambling online and lost over `15 lakh. In his hometown, his family survived on the earnings of his wife, who was a government school teacher. To compensate for the losses, Pandian misappropriated the funds. But he continued playing gambling with the money ear ned fraudulently and lost every, thing,” said DCB sources.P5 Speeding car hits CEO on morning jog, kills her E x p r e ss N e ws Se r v i c e @ Mumbai Stunning colours Tulip flowers in bloom at Asia’s largest Tulip Garden, which is opened for public at the foothills of Zabarwan mountains, in Srinagar on Sunday | pti A student, an embalmer and boxer all rolled into Danisha the ongoing IBA Women’s World Championships, she is a part-time embalmer. Unlike elite boxers, she and her teammates are self-funded. “I’m a freelance embalmer. It’s my passion. It’s very calming and peaceful. You get to wind down a bit, especially after hard training. It’s nice to give back to society every once in a while. I do it during the weekends on my off days,” Danisha said, after a successful Rummy loss: SBI staffer siphons `34L Dubai comes to Srinagar with FDI out of the box An m o l G U r un g @ New Delhi The AIADMK announced the poll to the general secretary post and schedule for the same on Friday, hours after the HC adjourned a hearing on plaints filed by OPS’ backers PH Manoj Pandian, R Vaithilingam and JCD Prabhakar to April 11. have also been part of autopsies before. It’s very much part of life.” Up against Tajikistan’s Ruhafzo Haqnazarova in the 50kg, Danisha showed her boxing acumen to post a 4-0 win. To casual viewers, the result might seem nothing out of the ordinary but it’s a massive lift for the Singaporean who’s competing at the world event for the first time. “It wasn’t easy for us to come here because most of us are self-funded. Our women’s team is relatively new. We’re just trying to see where we stand at the world level,” Danisha said with a smile. Interestingly, her next challenge is not inside the ring, but off it. “I have an exam tomorrow (Monday) at 11 am (Singapore time), which is 8.30 am here. I’m pursuing Diagnostic Radiography (X-rays and CT scans), University UG course,” she said.  P11 THE CEO of a tech company, who was jogging near Worli sea-face promenade in south Mumbai on Sunday morning, was killed on the spot after she was hit by a speeding car. The deceased, Rajlaxmi Krishnan, 42, was an avid runner, a fitness freak and part of a Shivaji Park’s joggers group. She was a resident of Dadar. According to police, the incident took place around 6.30 am. The woman was rushed to a nearby hospital, where she was declared dead. The driver of the car also sustained injuries in the accident. “We have identified the accused, Sumer Merchant, 23, a junior employee with a company that provides talent for Bollywood films,” said DCP (Zone III) Akbar Pathan. “He was returning after dropping a friend. He hit his car (a Tata Nexon) on a divider, following which it swerved at high speed and hit The car that hit the woman CEO | ani Krishnan. She was thrown away in the impact.” An officer said that based on eyewitness accounts, the car was driven at a high speed. Soon after the incident, local residents overpowered Merchant and handed him over to Worli police station, where an FIR was registered. Blood samples of the accused have been sent for testing. “We want to check if he was under the influence of alcohol when the incident took place,” the police official said.