Kathmandu, Aug 15: At least 12 people were killed in a landslide in Nepal today, taking the death toll in floods and rain-related calamities to 78 across the Himalayan nation, even as all the 35 stranded Indian nationals have been rescued, officials said.
Heavy rainfall has lashed Nepal for the past four days, swelling several Himalayan rivers beyond the danger mark and causing flooding and landslides at many places in the country.
The river Rapti, which flows through a large part of Nepal towards the southern plains, flooded human settlements and hotels popular with tourists in the Chitwan Valley.
All the 35 Indian nationals, who were stranded in Sauraha, a part of the Chitawan National Park, have been rescued, an Indian Embassy spokesperson said. They were rescued to safer place by using tamed elephants.
Although earlier reports quoting local authorities, said that 200 Indian tourists were among the 700 stranded people, the Indian Embassy official said only 35 of them were Indian nationals.
According to the Ministry of Home Affairs (MoHA) at least 12 people were killed by landslide in Morang district today, taking the death toll in the district to 17 and overall to 78.
Thirty five people were also missing since Friday.
The monsoon havoc has affected 27 districts spanning from the eastern, central to the western regions.
Nine persons were killed in Rautahat, eight were killed in Sunsari, four each in Sarlahi, Sindhuli, Bara, Makawanpur and Banke districts, five persons were killed in Jhapa, three killed each in Dang and Surkhet, two each were killed in Bardiya and Chitawan and nine persons were killed elsewhere.
Meanwhile, Nepal’s Energy Minister Mahendra Bahadur Sahi has claimed that the highways built along the no man’s land on the Indian side of the border are the major reasons behind the floods in the Terai.
“The highways made by elevating the land next to the Nepal-India border have restricted the natural flow of water, leaving Nepal’s Terai plains submerged during the rainy season,” Shahi said.
The government will take up the issue with India during Prime Minister Sher Bahadur Deuba’s India visit slated for next week, Shahi said yesterday.
A total of 34,843 houses were inundated across the plains. More than 1,000 houses were destroyed in floods that killed an estimated 400 livestock, the Kathmandu Post reported.
The government has mobilised Nepal Police, Nepali Army and Armed Police Force personnel for rescue and recovery work.
While rainfall is likely to continue in the next few days, as predicted by the Meteorological Forecasting Division (MFD).
Weathermen have said the extreme rainfall, starting from eastern Nepal, witnessed in the last few days was caused by the formation of a low pressure zone over the hills. The monsoon, it added, was gradually getting weaker in the east and moving towards the west.
Days after the Supreme Court rejected Sahara’s plea, the Bombay High court on Monday put the group’s Aamby Valley property in Pune district of Maharashtra for public auction.
“Office of Official Liquidator, Bombay High Court puts up Aamby Valley for public auction for a reserve price of Rs 37,392 crore,” reported ANI. The property is valued at Rs 34,000 crore.
During the hearing in Supreme Court, senior advocate Kapil Sibal had said that the auction process of Aamby Valley should be postponed at least till September 16 to enable Subrata Roy to arrange the money.
However, senior advocate Arvind Datar, representing the SEBI, opposed the proposal of the Sahara chief saying that every time a process starts, the group came up with some objection in order to delay the process.
The apex court had on July 25 asked the embattled Sahara chief to deposit Rs 1,500 crore in the SEBI-Sahara account by September 7 and said that it might then deliberate upon his plea seeking 18 months more time for making complete repayment.
The court had simultaneously approved the draft sale notice and terms to dispose of the property prepared by the official liquidator of the Bombay High Court.
Roy, who has spent almost two years in jail, has been on parole since May 6 last year. The parole was granted the first time to enable him to attend the funeral of his mother. It has been extended since then.
New Delhi, Aug 14: The government will amend the cost audit rules under the companies law in order to ensure parity between financial and cost records.
The amendments have been mooted pursuant to implementation of the Indian Accounting Standards (Ind AS), which is converged with global accounting norms.
The corporate affairs ministry, which is implementing the Companies Act, has come out with a draft of the proposed amendments to the Cost Records and Audit rules.
Various existing provisions under these rules, including some related to intangible assets, would be done away with while Ind AS compliance would be required for certain other aspects.
“Pursuant to implementation of Ind AS, the Companies (Cost Records and Audit) Rules, 2014 are to be amended to bring parity between financial records and cost records,” the ministry said in a communication.
Ind AS is applicable for certain class companies from the current financial year (2017-18).
With respect to employee cost, the ministry has proposed that the same should be ascertained after taking into consideration “the cost of retirement benefits charged in the financial statements in an accounting period”.
Under the current rules, employee cost shall be ascertained taking into account the gross pay including all allowances payable along with the cost to the employer of all the benefits.
In case of companies where Ind AS is applicable, any re- measurement of employee costs “recognised in other comprehensive income shall not form part of the employee cost”, as per the draft rules.
One of the current requirements that the useful life of an intangible asset, in any situation, “shall not exceed 10 years from the date it is available for use” would be removed.
Among others, the provision that the method used for calculating depreciation should reflect the pattern “in which the asset’s future economic benefits are expected to be consumed by the entity” would be done away with.
The ministry has sought comments from stakeholders on the draft amendments till August 26.
Shimla, Aug 14: A massive landslide buried two Himachal Pradesh roadways buses, killing at least 46 people and injuring several others at Kotpuri near Padhar on the Mandi Pathankot national highway, officials said on Sunday.
The toll could rise further as over 50 passengers were travelling in the two buses hit by the landslide, which was triggered by a cloud burst, they said. Some other vehicles may also have been hit by the landslide, the officials said.
“Forty-six bodies have been recovered, and of these 23 have been identified,” an official said.
Among the bodies recovered were those of the driver and the conductor of Chamba depot bus Chandan Sharma and Satpal.
Rescue operations were suspended late evening as there were apprehensions of more landslides, he said. The rescue work would resume tomorrow.
Teams of the National Disaster Response Force (NDRF), the Army and the police rushed to the spot and heavy earth-moving machinery was deployed at the gorge where the two buses lay buried under a heap of debris.
Chief Minister Virbhadra Singh visited the spot. He said that eight passengers were travelling in the Manali-Katra Volvo bus, of whom three lost their lives, while five were rescued and taken to the zonal hospital in Mandi.
There were around 47 passengers in the second bus which was on its way from Manali to Chamba, an official said.
The chief minister said the state government would bear medical expenses of the injured. He also met the bereaved family members and expressed condolences.
Health Minister Kaul Singh Thakur, Transport Minister G S Bali and Rural Development and Panchayati Raj Minister Anil Sharma also reached the spot.
Thakur announced financial assistance of Rs 4 lakh each to the next of kin of the deceased, while Bali announced that Rs 1 lakh would be given to each bereaved family by the HRTC.
The massive landslide, covering an area of more than 250 metres, may have swept away some other vehicles also and damaged some houses, an official said.
The buses had halted for a tea break in the intervening night between Saturday and Sunday at Kotrupi when the tragedy struck. Information was received after 1 am about the incident, an official said.
The highway was closed and hundreds of vehicles were stranded on both sides, officials said.
D D Sharma, Special Secretary, Himachal Pradesh government said that a team of forensic experts had also been called considering that several of the bodies were mutilated.
Prime Minister Narendra Modi also condoled the deaths
“Pained by the loss of lives due to landslide related accidents in HP’s Mandi district. My condolences with the families of the deceased,” Modi tweeted.
I pray for the quick recovery of those injured, he added.
This is the third such major incident in Himachal Pradesh since 1988. Earlier 45 bus passengers were buried in a landslide near Matiyana in Shimla district in 1988 while 42 passengers were buried in an incident at Luggar Hati in Kullu district in 1994.
On a night high in drama, Ahmed Patel finally emerged victorious and won the votes necessary to retain his Rajya Sabha seat. The final count from Election Commission stated that Ahmed Patel got 44 votes, while Amit Shah and Smriti Irani got 46 votes. Balvantsinh Rajput was the only loser of the day as he ended up with 38 votes.
The counting of votes was to start at 5 pm, but it was delayed after the Congress moved the EC demanding cancellation of the votes of the two party MLAs who allegedly showed their ballots to BJP chief Amit Shah before casting them in violation of rules. Late in the night, the poll panel rejected the votes cast by Congress MLAs Bholabhai Gohil and Raghavjibhai Patel, and gave the go ahead for counting of votes, after hearing three delegations each of the Congress and the BJP and viewing the video recording of the voting process.
The Election Commission tonight rejected the votes cast by two Congress MLAs who showed their ballots to BJP chief Amit Shah before casting them in violation of rules, and gave the go ahead for counting of votes in the controversy-ridden Gujarat Rajya Sabha polls.
The poll panel passed the order after viewing the video recording of the voting process, saying two electors– Bholabhai Gohil and Raghavjibhai Patel–had “violated the voting procedure and secrecy of ballots.” The usually quiet polls for the upper chamber of Parliament turned acrimonious and chaotic after the Congress approached the Election Commission demanding cancellation of the votes of Gohil and Patel for having shown the ballots to people other than the party’s authorised representatives.
Three delegations each of the Congress and BJP made a dash for ‘Nirvachan Sadan’, the EC headquarters, within a span of two hours, with the former demanding that the votes of Gohil and Patel be declared invalid, and the latter insisting that counting be taken up “immediately”.
The poll panel, finally, accepted the Congress’s contention and asked the returning officer to reject the votes of its two MLAs and proceed with the counting.
Kathmandu, Aug 9: Nepal’s Deputy Prime Minister Krishna Bahadur Mahara has said his country will not take any sides in the ongoing Sikkim standoff between India and China.
Nepal wants India and China to use “peaceful diplomatic means” to resolve the issue, said Mahara, who is also the Foreign Minister.
“Nepal will not get dragged into this or that side in the border dispute,” he told reporters yesterday.
“Some media reports are attempting to drag us in favour of one or the other side, but I want to make it clear that we have not taken any side in this matter,” Mahara said.
He said that Prime Minister Sher Bahadur Deuba will pay an official visit to India from August 23 to 27 and necessary preparations are going on for the same.
However, detailed itinerary of the visit is yet to be finalised, Mahara said.
He also told media persons that Chinese Vice Premier Wang Yang will arrive in Nepal on August 14 on an official visit.
The Chinese leader’s visit will be development-centric, and it cannot be linked with the prime minister’s visit to India in any way, he added.
India and China have been locked in a standoff in Sikkim section’s Doklam area since June 16 after Chinese troops began constructing a road near the Bhutan trijunction.
Bhutan has protested to China, saying the area belonged to it and accused Beijing of violating agreements that aim to maintain the status quo until the boundary dispute is resolved.
India says the Chinese action to lay the road was unilateral and changes the status quo. It fears the road would allow China to cut off India’s access to its northeastern states.
Doka La is the Indian name for the region which Bhutan recognises as Doklam, while China claims it as part of its Donglang region.
The number of I-T returns filed for 2016-17 year grew by 25% to 2.82 crore, as increased number of individuals filed their tax returns post demonetization, the tax department said on Monday.
The growth in ITRs filed by Individuals is 25.3% with over 2.79 crore returns having been received up to August 5 as against over 2.22 crore returns filed in the corresponding period last fiscal. “As a result of demonetization and Operation Clean Money, there is a substantial increase in the number of Income Tax Returns (ITRs) filed,” an official statement said. The total number of returns filed as on August 5 stands at over 2.82 crore as against over 2.26 crore filed during the corresponding period of 2016-17. This was an increase of 24.7% compared to growth rate of 9.9% in the previous year.
The last date for filing of income tax returns by individuals and HUFs, who need not get their accounts audited, was August 5. The finance ministry said that the number of ITRs filed showed that substantial number of new tax payers have been brought into the tax net subsequent to demonetization. The effect of demonetization is also clearly visible in the growth in direct tax collections, it said. Advance tax collections of personal income tax (other than Corporate Tax) as on August 5 showed a growth of about 41.79% over the corresponding period in 2016-17.
Personal Income Tax under Self Assessment Tax (SAT) grew at 34.25% over the corresponding period in 2016-17. “The above figures amply demonstrate the positive results of the government’s commitment to fight the menace of black money,” it added. The Central Board of Direct Taxes (CBDT), which is the apex policy making body of the I-T department, is committed in its resolve to eradicate tax evasion in a non-intrusive manner and widening of tax base.
To fight the menace of black money, the government had on November 8, 2016, demonetized old 500 and 1000 rupee notes and asked holders of such notes to deposit in bank accounts. The I-T department had then launched operation clean money to clamp down on unaccounted money funnelled into bank accounts post demonetization.
New Delhi, Aug 7 : Press does not have any exclusive right or special privilege to comment, criticise or make imputations or allegations which are sufficient to ruin a citizen’s reputation, a Delhi court has said.
Further, journalists do not have greater freedom than others, it has said while reminding that the responsibility of the scribes was higher as they have power to disseminate information.
The court’s order came as it restrained the managing editor of a magazine from publishing any libellous articles against a man who has alleged that he was defamed.
It also directed the magazine editor and another person to pay Rs 30,000 and Rs 20,000 respectively to the man as “symbolic damages”.
“Further, journalists are in no better position than any other person. The press does not enjoy any exclusive rights under our Constitution, apart from those enjoyed by a citizen as a concomitant of the freedom of speech and rights against unlawful deprivation of life and liberty guaranteed under Articles 19 and 21 of the Constitution,” Additional District Judge Raj Kapoor said.
The court said the press enjoys no special privileges to comment, criticise or even to investigate the facts of any case and rights of press persons are not higher than that of the common man.
“In fact the responsibilities of a journalist are higher.
The common man has limited means and reach in which he acts.
“A journalist on the other hand has a wider reach and power to disseminate information and therefore such power has the potential to cause irreparable damage to a matter under enquiry in a court of law or in a given case has greater propensity to scandalise … the dignity, majesty or reputation of an individual or an institution,” it said.
The man, a share broker and member of a housing society, had alleged that an article was published in the magazine in December 2007 to tarnish his image by using defamatory words.
He said when he issued a legal notice to the defendants, instead of apologising, they again defamed him by writing defamatory words against him to government agencies.
However, the founder and managing editor of the magazine claimed before the court that there was no defamatory article naming the man and that the magazine was not distributed among the business or connected circle of the man.
The second defendant, the then president and a resident of the same housing society, alleged that the man was indulging in unlawful activities in the society and he had filed a civil suit for removal of unauthorized encroachment there.
The court, however, said the two defendants had connived and published the articles in the magazine which were defamatory in nature and harmed the reputation of the man.
New Delhi, Aug 7: Two Indian boxers — Mohit Khatana (80kg) and Satender Rawat (80+kg) — advanced to the finals while six others settled for bronze medals after semifinal defeats in the Asian Junior Championships in Puerto Princesa, Philippines today.
While Khatana defeated Uzbekistan’s Rakhmonov Kamronbek in a 4-1 split verdict, Rawat got the better of Kazakhstan’s Arnur Akhmetzhanov.
Both the Indians will be up against rivals from the same countries in the final tomorrow.
Khatana will be up against Kazakhstan’s Togambay Sagyndyk. Rawat, on the other hand, will square off against Almatov Shokrukh in his summit clash.
However, the other six Indians in fray lost their last- four stage bouts and had to be content with bronze medals.
Ankit Narwal (57kg) went down to Uzbekistan’s Javlonbek Yuldashev. Bhavesh Kattimani (52kg) was beaten by Kazakhstan’s Sheksen Bibars.
Sidhartha Malik (48kg) went down to Japan’s Yano Toshiya, while Vinit Dahiya (75kg) lost to Maksut Kuandyk of Kazakhstan.
In the other semifinal clashes, Akshay Siwach (60kg) lost to Japan’s Reito Tsutsumi while Aman Sehrawat (70kg) was defeated by Iraq’s Saleem Saleh.
New Delhi, Aug 7 : As many as 12 public sector banks including PNB, Bank of India and Indian Bank have lined up plans for raising funds from markets to shore up their capital base to meet global risk norm, Basel III.
About 6-7 lenders including Andhra Bank expect to close their capital raising plan by the end of the current fiscal, sources said.
The remaining would raise funds through follow on public offer (FPO) or Qualified Institutional Placement (QIP) from the market during course of the next fiscal, they added.
Lenders including Allahabad Bank, Andhra Bank, Bank of India, Central Bank of India, Dena Bank, IDBI Bank, Indian Bank and Punjab National Bank (PNB) have already got permission from the government to raise capital from the market through QIP or FPO or preferential allotment.
Similarly, Syndicate Bank, UCO Bank, United Bank of India, Vijaya Bank also got approval from the government and some of them have already started the process.
For example, Allahabad Bank has already obtained shareholders’ nod in order to raise equity capital aggregating up to Rs 2,000 crore through different modes like QIP, FPO or a rights issue.
Board of PNB has given its approval for raising equity capital to the tune of Rs 3,000 crore through FPO, QIP or rights issue.
At the same time, Dena Bank also obtained shareholders’ nod to offer equity shares aggregating up to Rs 1,800 crore to QIP at such issue prices including premium with face value of Rs 10 each.
As per the Indradhanush roadmap, public sector banks need to raise Rs 1.10 lakh crore from markets, including follow-on public offer, to meet Basel III requirements, which kick in from March 2019.
This will be over and above the Rs 70,000 crore that banks will get as capital support from the government. Of this, the government has already infused Rs 50,000 crore in the past two fiscals and the remaining will be pumped in by the end of 2018-19.
In June, SBI raised Rs 15,000 crore by selling 52.2 crore shares through QIP, the largest share sale in the secondary market by a bank.
SBI said the total proceeds of the issue will be used to augment its capital adequacy ratio and for general corporate purposes.