About the authorPaul VegasShare the loveHave your say Newcastle defender Fabian Schar warns: We’re not yet safeby Paul Vegas10 months agoSend to a friendShare the loveNewcastle United defender Fabian Schar has warned they’re not yet safe from relegation.Schar has insisted Newcastle still have plenty of room for improvement – despite pulling six points clear of the drop zone following victory at Huddersfield.Speaking after the game Schar said: “At the moment, we have quite good results away.“We have another important week in front of us with a game at home, and it’s another big chance for us.“We are not comfortable with the results at St. James’ Park – we always want to get points there, so we have to try and show the fans what we’ve got and (how) we can play.“We can improve a lot of things.“At the same time, we always have to be focussed and play with our heart.“Even if it is a home game, we have to be able to defend like we do away.”
About the authorPaul VegasShare the loveHave your say Crystal Palace chairman Parish: These kids set to follow Wan-Bissaka…by Paul Vegas10 months agoSend to a friendShare the loveCrystal Palace chairman Steve Parish is delighted with the progress of their young players.Parish expects more to follow Aaron Wan-Bissaka into manager Roy Hodgson’s first team.He told the club’s website, “…our U23s and U18s both won their respective leagues, which were brilliant achievements for our Academy. “Aaron’s progress through the ranks has been something to celebrate, but he’s not the only one to force his way into Roy’s plans. Sam Woods and Ryan Innis made their first team debuts, whilst James Daly, Nya Kirby and Giovanni McGregor have made the first team bench this year. It is an exciting time to be a young player in our Academy.”
TagsTransfersAbout the authorPaul VegasShare the loveHave your say Benfica president Vieira: Mourinho? Money is no problemby Paul Vegas10 months agoSend to a friendShare the loveBenfica president Luis Filipe Vieira has the financial backing to hire Jose Mourinho.The sacked Manchester United manager has been raised by Vieira as a replacement for the sacked Rui Vitoria.There’s been claims Mourinho’s personal demands would be too much, but Sport says the president has said “the money is no problem”, opening the debate again.Vieira insists he had not spoken to Mourinho though. Bruno Laje is working as interim coach for now and the president said that he will stay in charge until the end of next week. Mourinho is a free man after being sacked by Manchester United.
Real Madrid will move for Spurs star Eriksen in Januaryby Paul Vegas15 days agoSend to a friendShare the loveReal Madrid will move for Christian Eriksen in January, according to reports.Eriksen wanted to leave Tottenham this past summer, but no suitable offers arrived.He will become a free agent at the end of the season, yet Real want him as soon as possible.Marca says Real will bid for the Dane during the winter transfer window as they don’t want to take any risk of losing him.Spurs would likely accept an offer as Eriksen will walk for free in the summer. TagsTransfersAbout the authorPaul VegasShare the loveHave your say
zoomImage Courtesy: Pixabay (Pixabay License) Senior United States Senator from Utah, Michael Lee, has introduced the Open America’s Water Act of 2019, a bill which would repeal the Jones Act and allow all qualified vessels to engage in domestic trade between U.S. ports.“Restricting trade between U.S. ports is a huge loss for American consumers and producers. It is long past time to repeal the Jones Act entirely so that Alaskans, Hawaiians, and Puerto Ricans aren’t forced to pay higher prices for imported goods—and so they rapidly receive the help they need in the wake of natural disasters,” Lee explained.In 1920, Congress passed the Jones Act, which requires all goods transported by water between U.S. ports to be carried on a vessel constructed in the U.S., registered in the U.S., owned by U.S. citizens, and crewed primarily by U.S. citizens.The Cato Institute estimates that after accounting for the inflated costs of transportation and infrastructure, the forgone wages and output, the lost domestic and foreign business revenue, and the monetized environmental toll the annual cost of the Jones Act is in the tens of billions of dollars. And that figure doesn’t even include the annual administration and oversight costs of the law.
New Delhi: The National Housing Bank’s direction to housing finance companies to desist from providing loans under subvention scheme will lead to increase in interest cost for homebuyers and aggravate the liquidity crunch faced by real estate developers, according to two apex bodies of the realty industry. Worried over frauds by builders, the National Housing Bank (NHB) has asked housing finance companies (HFCs) to “desist” from offering loans under interest subvention scheme wherein real estate developers pay pre-EMIs (equated monthly instalments) on behalf of homebuyers for a certain period. Also Read – Thermal coal import may surpass 200 MT this fiscalThe direction has been issued by the NHB in view of several complaints of frauds allegedly committed by certain builders using subvention schemes. When contacted, CREDAI President Satish Magar said, “It should not have been done. This will increase the interest cost for homebuyers as builders were paying EMIs on behalf of customers for certain period. There was not much harm from this scheme”. He, however, ruled out any negative impact on housing sales and liquidity situation of developers. Also Read – Food grain output seen at 140.57 mt in current fiscal on monsoon boostBut, NAREDCO President Niranjan Hiranandani is of the view that this move will further affect the project funding. “In the aspect where it seeks to control frauds, it is obviously welcome, although the side effect will be further drying up of project funds,” he said. The real estate industry is “desperately” looking for the government support to come out form the liquidity crunch, Hiranandani said. He stressed the need for alternative funding sources for the developers. Anarock Chairman Anuj Puri said, “This will definitely put even more strain on many developers’ already precarious liquidity situation.” In order to attract more buyers for their projects and also raise funds for their construction, Puri said many real estate developers had resorted to offering various subvention schemes. “In these schemes, the developer basically took it on himself to repay the home loan amount on behalf of the buyer for a certain agreed period. In some cases, buyers were also taken for a ride if they didn’t read the terms and conditions carefully,” he added. Gulam Zia, executive director (valuation & advisory, retail & hospitality) of Knight Frank India, said the transaction volumes may come down in metro cities in the absence of the subvention scheme. “Subvention schemes are offered by reputed and A-grade developers on whom financial lenders had enough confidence. About 10-12 per cent of home loan market in top-8 cities were subvention schemes,” Zia said, adding that it was one of the most important schemes used by developers to induce purchase by homebuyers for under-construction properties. Ozone Group CEO Srinivasan Gopalan said, “This is good in the long run for developers. However, we do not appreciate any abrupt change overnight. This throws the entire planning out of gear.” He added that the subvention scheme had a lot of advantages to the customer as well as the financial risk on construction delays was wholly on the developer. Bengaluru-based Salarpuria Sattva group Managing Director Bijay Agarwal said buyers who were attracted to properties merely based on lucrative schemes would be discouraged. “In the long term, this maybe a good initiative from the government. It may bring stability among homebuyers and stop speculation,” he added.
CALGARY (660 NEWS) – The list of Canada’s Greenest Employers has been released and a Calgary school has made the cut.The University of Calgary has joined a prestigious group of Canadian employers recognized for their environmental awareness through various sustainability initiatives.The competition evaluates companies on a variety of criteria including the environmental initiatives they have developed; successes in reducing the organization’s environmental footprint and whether sustainability initiatives link to the employer’s public identity.Congratulations to the 2019 winners of Canada’s Greenest Employers! As national leaders in #sustainability, this year’s #GreenEmployers are setting new standards for mitigating environmental impacts of their operations. Learn more by visiting https://t.co/ZEiVjdsX8n #environment pic.twitter.com/mHy6SIA2pR— CT100 Project (@top_employers) April 15, 2019Some of those initiatives from the University include its Bike Root along with the UBike on-campus rental service, bicycle repair and maintenance clinics.The school also offers a 61-plot pesticide free community garden which is available for staff, students, and members of the community.“We strive to implement programs and initiatives that support a sustainability culture on campus and in the community,” says Associate Vice-President of Sustainability, Joanne Perdue. “This includes our commitment to advancing sustainability education and research, engagement for sustainability, and modelling the way through sustainability practices in administration and operations.”Several other post-secondary schools were named among the Greenest Employers in the country including the University of Alberta, Wilfred Laurier and McGill.Major companies such as the Home Depot, IKEA and Ivanhoe Cambridge which manages CrossIron Mills also made the list.
CALGARY – TransCanada Corp. says it has confirmed strong commercial support for its controversial Keystone XL pipeline.The company says it has concluded an open season for the pipeline project with roughly 500,000 barrels per day of firm, 20-year commitments.TransCanada says interest in the project remains strong and it will look to continue to secure additional long-term contracted volumes.In November, Nebraska regulators approved a route for the pipeline though the state, but not the company’s preferred choice, instead shifting the path away from sensitive ecological areas.TransCanada (TSX:TRP) says it’s working with landowners to obtain the necessary agreements for the approved route.It says construction preparation has started and will increase as the permitting process advances throughout this year, with primary construction expected to begin in 2019.
TORONTO – Amazon is keeping the cost of an annual Prime membership in Canada steady even as it moves to raise the cost in the United States.The online retailer says the price of an annual membership will remain at $79 even as it increases 20 per cent in the U.S. starting next month.The company said Thursday that Prime members in the U.S. will now pay US$119 a year, up from US$99, starting May 11 for new members.The new price will apply to renewals of existing U.S. memberships starting on June 16.An Amazon Prime membership gives customers free two-day shipping as well as access to its video and music streaming services and other benefits.The online retailer recently disclosed for the first time that it has more than 100 million Prime members worldwide.
FORT ST. JOHN, B.C. – The Northern Environmental Action Team is hosting a series of sessions looking at Northern Farmer Connections.The Northern Farmer Connections session is an informal evening to learn about what NEAT is planning in order to learn about and support local producers throughout the Peace. It will also allow farmers to ask questions and network with other local producers.Bess Legault, Northern Co-hort Coordinator with NEAT, says there is a growing interest in agriculture within the Peace Region. “In the last couple of years, there’s been an interest in the potential for a horticultural/agricultural industry or industry support in the Peace Region.”Legault hopes these sessions will create a local food system collectively and collaboratively with local producers in order to bring food to the local purchaser.“So we’re going to learn from one another what’s working and what’s not working. Is there an opportunity for farmers to work together to be able to supply a grocery store instead of just a farmers’ market?”.There are no production guidelines as both large and small producers are welcome to attend the sessions.The first session is taking place in Fort St. John on November 15, from 5:30 p.m. to 7:00 p.m. at the NEAT Office.For more information and a list of sessions happening near you, you can visit https://neat.ca/event/
Patna/Muzaffarpur: Four police personnel were suspended and a poll official was issued show cause notice in Bihar’s Muzaffarpur district on Tuesday for keeping six EVMs inside a hotel room while voting was on for the fifth phase, a top official said.The district authorities were, however, quick to assert that none of the EVMs was used or their seals broken. The matter came to light when several local leaders of the opposition ‘Mahagathbandhan’ noticed that poll-related paraphernalia was being taken inside a hotel by Sector Magistrate Awadhesh Kumar and raised an alarm. Also Read – India gets first tranche of Swiss account details under automatic exchange frameworkSector Magistrate Awadhesh Kumar has been served with a show cause notice and based on his reply, which has to come within 24 hours, further action will be taken,” Bihar Joint Chief Electoral Officer Pravin Kumar Gupta told a press conference in Patna. “The four police personnel, a sub-inspector and three constables who accompanied him have been suspended, he added. Muzaffarpur district magistrate and district election officer, Alok Ranjan Ghosh dismissed allegations of suspected misuse of the EVMs. “None of the EVMs was used for voting and all were sealed. These were kept in reserve meant for replacement in case of a snag being reported from anywhere, he said.
Same song, different verse.The San Antonio Spurs — after defeating the Miami Heat in Game 4 of the NBA Finals on Thursday night — are one win away from a title. The score wasn’t close, 107-86 — the second game in a row that San Antonio dismantled Miami. But in Game 3, it was the Spurs’ offense overwhelming the Heat’s defense with a cascading set of inside-outside and side-to-side actions. In Game 4, the Spurs’ offense continued to perform at a high level, but it also tightened the screws defensively.The Heat scored at a rate of 99.1 points per 100 possessions in Game 4, more than 13 points lower than Miami’s playoff average. The Spurs controlled the middle of the floor, a factor that manifested in several ways.According to the NBA’s SportVU Player Tracking Box Score, San Antonio had an enormous rebounding advantage, not just in actual rebounds — 44 to 27 — but also in rebound chances (defined as any time a player is within 3.5 feetof a rebound), 68 to 46. The Spurs were consistently the aggressor around the basket.That aggressiveness also showed in Game 4’s shot-contesting stats. The Heat were 15 of 34 (44 percent) on shots in the paint. Coming into the game, the Heat had made 64 percent of their shots in the paint, by far the best mark of any team in the playoffs. The Heat — athletic and loaded with finishers — can score in the paint even when a defender is there to challenge a shot. But the Spurs have gotten more aggressive, and it is bothering the Heat in traffic.Miami’s Shooting WoesSan Antonio contested a slightly lower percentage of Miami’s shots in Game 4, but the Spurs were extremely effective, especially around the basket. The Heat couldn’t get shots to fall.The Heat have turned the ball over on 18.7 percent of their possessions in the finals, well above the 15.8 percent they had averaged in the regular season. Many of the steals the Spurs are generating have come close to the basket, stripping the ball from a shooter as he heads for the rim. On San Antonio, Danny Green and Kawhi Leonard have been particularly active in this regard, combining for 15 steals and seven blocks in the finals so far.The Spurs have strung together two of the best performances of the playoffs — one offensive and one defensive. It will take massive changes from Miami to push this series toward a competitive finish.
AC Milan look set to begin proceedings to sign current head coach Gennaro Gattuso to a new contract ahead of their derby against arch-rivals Inter MilanSince replacing the fired Vincenzo Montella back in November, Gattuso has overseen an upturn in form for Milan and they have been unbeaten domestically in 2018.The former youth coach was promoted, despite no prior experience, and now taken lead Milan back into the race for a possible Champions League spot in the Serie A standings.“When we open our eggs this Easter, we’re going to find Gennaro Gattuso’s renewal inside,” said Milan’s sporting director Massimiliano Mirabelli, according to The 42.Maurizio Sarri satisfied despite Juventus’ draw at Fiorentina Andrew Smyth – September 14, 2019 Maurizio Sarri was satisfied with Juventus’ performance on Saturday afternoon after finishing a tough game at Fiorentina 0-0.“I’ve been telling you for some time, although perhaps you only know him as a player, that Rino (Gattuso) is already an important coach and in the future will be one of the best in the world, so it’s only right that Milan keep hold of him.“We are working to start a new era with Gattuso, because we believe he is the right coach for a Milan that must be a protagonist over the next few years.“We all want it (contract), Rino like all of us, we just need to find the right time to do what we have to do.”
Real Madrid have reportedly named Marcos Alonso as a replacement for Marcelo, should he leave for Juventus this summerAlonso has made 88 appearances in all competitions for Chelsea since arriving from Fiorentina in 2016.However, it is understood that the 27-year-old would be open to returning to boyhood club Real Madrid at some point in the future.Mundo Deportivo reports that there is still a possibility that Marcelo may depart for Juventus before the end of the transfer deadline on Friday.Apparently, Real have now approached Chelsea to initiate talks over signing Alonso.Chelsea hat-trick hero Tammy Abraham hopes for more Andrew Smyth – September 14, 2019 Tammy Abraham hopes this season will be his big breakthrough at Chelsea after firing his first hat-trick for the club in Saturday’s 5-2 win at Wolves.Although the 13-time European champions would rather retain Marcelo for this season having already parted with star player Cristiano Ronaldo last month.The Portuguese star is keen to reunite with his good friend at new club Juventus.Meanwhile, Chelsea are unlikely to want to lose Alonso at this stage of the summer transfer window.The Spanish left-back has started each of their three Premier League games this season and still has another three years remaining on his contract.
Mauricio Pochettino admits his side’s performance was not up to standard despite beating rivals Manchester United 3-0 at Old Trafford.The Argentine boss doesn’t want his side to get carried away with a result like against Man United, saying they are going to ‘crash’ if they do so.“My mood wasn’t great, I was so disappointed [after Old Trafford],” he explained, as quoted by the Guardian.“We need to improve our performance. I wasn’t happy with the first half.“We need to talk about reality, not perception, and the reality was that in the first half we could concede one, two or three goals.“The team showed character and in the second half we dominated but if we want to fight for big things, it’s about trying to improve.Vidic: “Ronaldo is the most professional footballer I’ve seen” Andrew Smyth – September 14, 2019 Nemanja Vidic opened up on how a 21-year-old Cristiano Ronaldo’s professionalism left him stunned at Manchester United.“After three games, Watford are over the moon and if we’re not ready and we believe that because we beat Manchester United 3-0, all is fantastic, we are going to crash.“It’s easy to talk about perception.“When you’ve beaten Manchester United 3-0 in Old Trafford, a historic victory, it’s easy to say our performance was fantastic and they were not so good.“But when you watch the game again, the line was very thin. In our last three games, we’ve conceded a lot of chances and Hugo Lloris made an unbelievable save to keep us alive at Old Trafford.“We need to show we are capable over 10 months, not after three games.”
Everton boss Maco Silva has allowed Kieran Dowell to join Sheffield United on loan for the rest of the season but said the club would fight to keep hold of Idrissa Gana Gueye even as Paris Saint-Germain targets him.When asked about the PSG interest on the defender, Silva said as was quoted in the Guardian.“I have heard nothing about that but Gana is an important player for our squad,” Silva said.Premier League Betting: Match-day 5 Stuart Heath – September 14, 2019 Going into the Premier League’s match-day five with a gap already beginning to form at the top of the league. We will take a…“We don’t want to lose him.”Silva doesn’t plan for a busy transfer window but prefers to conduct business in summer.“January is always a difficult market; sometimes you only need it if you have a bad injury or something special happens. The perfect decision would be one player to come and improve our squad but we have to be 100%, or at least 95%, sure that the signing would make an improvement,” Silva added.
Culture Tech Industry Security 1:54 Share your voice On Wednesday, House Democrats unveiled a new border security plan that contains no money for physical barriers along the southern US border.”We’ve seen that walls can and will be tunneled under, cut through or scaled,” Rep. Pete Aguilar, from California, told The Washington Post. “We cannot focus on archaic solutions in order to address this very modern problem. Technology works for securing the border.”So what are we talking about? Smart wall systems could comprise technologies ranging from infrared and laser-enhanced cameras, drones, sensors and radar to artificial intelligence. There’s also imaging technology that scans vehicles for drugs as they pass through official border crossings. But these approaches could too easily violate our privacy, security and civil liberties, according to tech companies and the American Civil Liberties Union. The ACLU described security technologies as “ineffective” and warned that “programs intended for border security purposes have had a tendency to expand toward the rest of the country.” Here are the most likely technologies that could be used on the border in place of, or in addition to, a wall.SensorsSensor technology is now small enough to embed in a car, allowing it to power self-driving test vehicles. Advocates say today’s sensors could be used on the border.One company, Quanergy, says one of its products relies on lidar, which uses pulsed light to measure distances and generate detailed images, to scan for movements. Quanergy says its products can tell the difference between a person and an animal.Given that the border stretches 1,950 miles, the project might require more than 15,000 sensors. At an estimated $250 per sensor, the price tag could amount to $3.7 million, or less than 1 percent of Trump’s border wall ask.Then there’s Anduril, a 2-year-old startup that’s building sensor-packed towers filled with radar, laser-enhanced cameras and communications antennas. Together, the sensors, cameras and antennas can detect objects from two miles away and identify the difference between people and animals, the company says.Anduril is headed by Palmer Luckey, the 26-year-old co-founder of Oculus VR who was forced out of Facebook. Now in his second act, Luckey said he’s hoping to “rebuild the bridge between the tech and defense communities.”His technology, called Lattice, is already being tested by US Customs and Border Protection (CBP). In a 10-week span, it helped agents catch 55 unauthorized border crossers and seize 982 pounds of marijuana, according to a 2018 Wired profile of the company.Anduril’s and Quanergy’s technologies could potentially augment an existing program created by Elbit Systems, an Israeli company that’s reportedly built 43 towers in Arizona carrying radar as well as daylight and infrared cameras that can capture images from 7.5 miles away, according to a report by Bloomberg. The contract, awarded in 2014 for $145 million, has been called a key piece of technology by CBP. DronesDrones can use combinations of cameras, lasers and heat sensors. They’ve also been tested in war zones by the US military and by firefighters battling last year’s wildfire blazes in California.The US Customs and Border Protection agency uses drones like this Predator for surveillance flights near the Mexican border. John Moore / Getty Images CBP operates a fleet of at least nine drones, according to a 2018 report from the Cato Institute, a libertarian think tank in Washington. “The biggest difficulty with drones is positioning them to surveil the border,” Cato’s report said, noting that issues such as bad weather, crashes and operation costs have plagued the program.Though CBP spent $255 million buying and operating drones between 2013 and 2016, apprehensions have risen by less than 1 percent, Cato estimates, at a cost of $32,000 per capture. Captures not involving drones cost an average of $9,000, according to Cato.CBP didn’t respond to a request for comment.Artificial intelligenceThe tech industry’s buzziest buzzword is already being used to help identify people in your photographs, recommend new beauty products and weed out bad behavior on the internet. And there are companies who say AI can help secure the border as well.Cogniac offers camera software that identifies people and objects. The company is backed by Google parent Alphabet and says its technology can work in real time with security cameras, cameras mounted on drones or even smartphones. So where is facial recognition in all this, you might ask?That technology has two potential issues. First, it would be mostly practical in places like border crossings, where lots of people stream by cameras. Second, such systems aren’t foolproof, and they carry a very real risk of abuse. “When combined with ubiquitous cameras and massive computing power and storage in the cloud, a government could use facial recognition technology to enable continuous surveillance of specific individuals,” Microsoft President Brad Smith wrote in an official Microsoft blog last year. “We must ensure that the year 2024 doesn’t look like a page from the novel ‘1984.’”Taking It to Extremes: Mix insane situations — erupting volcanoes, nuclear meltdowns, 30-foot waves — with everyday tech. Here’s what happens.CNET Magazine: Check out a sample of the stories in CNET’s newsstand edition. Drones Microsoft Donald Trump 39 Now playing: Watch this: Comments Tags US agents patrol the border between Ciudad Juarez, Mexico, and Santa Teresa, New Mexico. Herika Martinez/Getty Images Since 2015, President Donald Trump has promised to build a “big, beautiful wall” along the 1,950-mile US border with Mexico: a 20- to 30-foot high concrete wall/steel fence he says will stem illegal immigration, keep out illicit drugs and stop terrorists from entering the country.Critics say a physical barrier is unnecessary and ineffective, and they argue that modern tech could do the job instead at a lower cost. Which is how we got to the recent 35-day shutdown, the longest in US government history. Trump insists on Congress budgeting $5.7 billion for a wall, while Democrats push for high-tech border protections. “The positive, shall we say, almost technological wall that can be built is what we should be doing,” House Speaker Nancy Pelosi said during a press conference in January. She’s proposed spending “hundreds of millions of dollars” for tech to scan for drugs and weapons and detect people attempting to cross the border. Pelosi’s office didn’t respond to a request for an interview. Neither she nor her Democratic allies have specified which technologies they’d like to fund. Border security: Tech options that could replace a wall
Google announced a program to help people discard of opioids. Getty Google says it wants to give people information to help them beat opioid addictions. The search giant on Thursday said it will begin listing places on Google Maps where people can discard unused medications. Those places include pharmacies, hospitals and government buildings. The app will locate drug disposal centers. Google If you type in queries like “drug drop-off near me” or “medication disposal near me,” Google Maps will display local places that have drug disposal services year-round. In all, there are 35,000 locations on the app, with a focus on seven states: Alabama, Arizona, Colorado, Iowa, Massachusetts, Michigan and Pennsylvania. For the project, Google partnered with those state governments, as well as the Drug Enforcement Agency, Health and Human Services, and retail pharmacies Walgreens and CVS. Google said it eventually wants to expand the program beyond those seven states. The search giant said the data from the new Maps feature won’t be used to go after people for illegal drug possession. The company said the data from the DEA and other partners will only be used to show people drop-off locations. The disposals are confidential and no-questions-asked, Google said. The news comes as health professionals and government officials try to figure out how to deal with the opioid epidemic. More than 130 people die each day in the US from opioid overdoses, according to the Centers for Disease Control and Prevention. Meanwhile, the tech industry has been under intense scrutiny over the positive and negative effects its products could have on society. Google has been criticized for its policing of disinformation, data collection practices and abuse on its platforms. Lawmakers have also called upon tech giants to help contain the opioid problem. After Facebook CEO Mark Zuckerberg traveled across the US in 2017 on a “listening tour” to get out of his Silicon Valley bubble, he said one of his biggest takeaways was the severity of the opioid crisis. At a hearing before the House of Representatives last April, David McKinley, a Republican from West Virginia, grilled Zuckerberg on why illegal opioid listings weren’t removed from Facebook. “There are number of areas of content that we need to do a better job,” Zuckerberg replied. In June, the social network said searches for opioids would be redirected to a federal crisis help line. Tags 0 Tech Industry Google Alphabet Inc. Post a comment Share your voice
The Securities and Exchange Board of India (SEBI) imposed a ban on Sharepro Services, one of its premier registrar companies, accusing it of committing fraud in its business of share transfer and dividend encashment, an order by the market regulator said.It alleged Indira Kakera, the company’s registrars’ operations head, of siphoning off dividend and transferring shares away from its rightful owners. Kakera along with the senior management and the promoters had transferred funds amounting to Rs 21 crore to their relatives and friends.The ban also extends to 15 executives, including Sharepro Services Managing Director GR Rao.”Preliminary enquiry (PE) prima facie show falsification of records, forgery, repeated printing of new certificates without any request or authorization from the shareholder and irregular transfer transactions,” Rajeev Kumar Agrawal, a member of SEBI, said in an order.The PE said the fraud had taken place over a period of 10 years (2005 to 2015). And, SEBI has asked Sharepro’s clients, including several marquee ones, to change their share transfer registrar immediately and conduct a thorough audit of their records and system.The complaints of Sharepro Services’ irregularities were lodged by Asian Paints, Aptech and Britannia. A first information report was prepared by the economic offence wing of the Mumbai Police.Sharepro’s dubious operation has spurred wider interest in the case. “It makes a case for examining whether this is a one-off case or a widespread problem across the system,” JN Gupta, co-founder and managing director at SES â€” a proxy advisory firm, was quoted as saying by Mint.The issue has now raised questions on if other companies have paid dividends and transferred securities to the actual beneficiaries.”It appears to be widespread. It is in light of this, Sebi has done the right thing in passing an interim order, looking at urgency of the matter,” Sudhir Bassi, executive director at Khaitan and Co., told the daily.
High CourtThe High Court on Wednesday asked former home minister and Bangladesh Nationalist Party (BNP) leader Altaf Hossain Chowdhury to surrender to a lower court within four weeks in Barapukuria coalmine graft case, reports UNB.The HC bench of justice M Enayetur Rahim and justice Shahidul Karim passed the order after dismissing the rule issued following a petition for quashing proceedings of the case against him.There is no legal bar to run the trial proceedings of the case following the HC order, said Korshed Alam Khan, lawyer of Anti-Corruption Commission (ACC).Earlier on 28 May, the Appellate Division dismissed a leave to appeal petition filed by BNP chairperson Khaleda Zia challenging a High Court verdict that cleared the way for running the trial proceedings of the case.On 17 September last year, the High Court (HC) rejected a petition filed by Khaleda Zia for quashing proceedings of Barapukuria coalmine corruption case against her.On 26 February 2008, the ACC filed the case with Shahbagh police station, accusing Khaleda Zia and 10 of her former cabinet colleagues of taking Tk 1.59 billion in kickbacks on the Barapukuria coalmine deal awarded to the highest bidder, instead of the lowest one.Responding to a petition filed by Khaleda, the HC on 16 October 2008, stayed the case proceedings and issued a rule asking the ACC to explain why the case should not be quashed.The Appellate Division later upheld the stay order as well, leaving the corruption case in the cold.Khaleda, however, managed to secure a permanent bail in the case on 15 January 2012.Following a petition of the ACC, the HC revived the case on 2 March of that year.On 23 August, the HC turned down two petitions filed by Khaleda seeking all records of and the final report on Barapukuria coalmine graft case from the authorities concerned.