Category: wukcwwib

 

Rambourg is cleared after probe by FSA

first_img Show Comments ▼ Rambourg is cleared after probe by FSA  KCS-content whatsapp whatsapp Tags: NULLcenter_img A YEAR ago today Guillaume Rambourg was sitting pretty in Gartmore’s Fenchurch Street offices. He was among the firm’s standout performers and one of the brightest stars in the City’s glittering constellation. Alongside Roger Guy, co-head of European hedge funds, he was responsible for more than 20 per cent of Gartmore’s £21bn investment portfolio.By the end of the day he had been suspended for allegedly directing trades to favoured brokers, stunning the market. Gartmore announced a company probe, which would later lead to a full FSA investigation. His importance to the fund manager was underlined by a 30 per cent drop in its share price.It was the start of an annus horribilis for both Rambourg and Gartmore, which suffered, alongside his shock departure, an exodus of high-flying talent and the eventual sale of the entire firm.Rambourg yesterday said the Financial Services Authority (FSA) had dropped its probe without taking any disciplinary action. The watchdog was characteristically tight-lipped: it only confirms investigations if they result in a fine or other reprimand. When news of the watchdog’s investigation first surfaced, the timing could not have been worse. A panicked market wrongly assumed Rambourg had somehow been caught up in a separate, far more serious, insider trading investigation, which had surfaced the same week. It sent Gartmore into a tailspin, with clients withdrawing more than £1bn from its funds in the wake of his suspension. A month later, Rambourg was allowed to return to work. However, he was forced to take on a far lesser role – as an investment analyst – as his licence had been suspended when the probe was announced.During this time, things had gone from bad to worse at Gartmore. Speculation mounted that Rambourg’s former partner Guy, the star manager around whom Gartmore built much of its reputation, could quit the firm after voicing dissent over the way his friend was treated.The pressure got too much for Rambourg when the FSA launched its own investigation two months later and he quit to focus on the case. Spotting the potential catastrophic talent-drain, Gartmore attempted to lock in its key management. But it was too little too late. Guy – the man seen by many as the genius behind the firm’s meteoric ascendancy – announced he would quit. His team was responsible for almost half of the firm’s performance fees in recent years.With a rising sense of panic, Gartmore put itself on the market. Fund manager Henderson quickly emerged as a buyer, eventually paying £335m – just half Gartmore’s flotation price just a year earlier.Questions will now be asked over whether the FSA overstepped the mark by launching an investigation that finished off not only Rambourg’s Gartmore career but the firm itself and destroyed shareholder value. Rambourg plans a hasty return to the City, working towards regaining his FSA licence. The legacy of his treatment, however, could last a lot longer.TIME LINE | HOW GARTMORE’S DOWNFALL UNFOLDEDDecember 2009: Gartmore becomes the first IPO of a private equity-owned company since the credit crisis in 2007.December 2009: Roger Guy and Guillaume Rambourg are crowned fund managers of the year.30 March 2010: Rambourg is suspended by Gartmore for “directing trades” to his favoured brokers.May 2010: Gartmore sees a net outflow of funds of almost £1bn as clients react to Rambourg’s suspension.2 June 2010: The Financial Services Authority (FSA) announces it will launch its own investigation into Rambourg.15 July 2010 : Rambourg resigns to concentrate on the FSA investigation.18 August 2010 : Gartmore’s assets under management fall 10 per cent to £19.9bn according to its six month results.8 November 2010 : Roger Guy sensationally resigns from the firm. Beleaguered Gartmore immediately places itself on the market. It says it will implement a strict cost-cutting drive and issue new equity representing 15 per cent of its existing share capital, in order to retain and incentivise staff.13 January 2011: Fund manager Henderson confirms it will buy Gartmore in a deal valuing the firm at £335m – half of its year-old IPO value. Share Tuesday 29 March 2011 8:57 pmlast_img read more

 

Absa Bank of Botswana Limited (BARC.bw) 2019 Annual Report

first_imgABSA Bank of Botswana Limited (ABBL.bw) listed on the Botswana Stock Exchange under the Banking sector has released it’s 2019 annual report.For more information about ABSA Bank of Botswana Limited (ABBL.bw) reports, abridged reports, interim earnings results and earnings presentations, visit the ABSA Bank of Botswana Limited (ABBL.bw) company page on AfricanFinancials.Document: ABSA Bank of Botswana Limited (ABBL.bw)  2019 annual report.Company ProfileAbsa Bank of Botswana Limited formerly (Barclays Bank of Botswana Limited) is an established financial services group; providing solutions in the retail, commercial and corporate sector in Botswana. The group has a national footprint, with 34 branches and 75 ATMs located in the major towns and cities of Botswana. Its personal banking products and services range from savings and fixed deposits to graduate loans, funeral cover and smart phone banking services. Its business banking division provides the standard solutions for commercial and corporate transactions, investments and loans, as well as an array of specialised financial solutions such as treasury services, foreign exchange and currency repo, risk management and trade finance products. Absa Bank of Botswana Limited is a subsidiary of Barclays Africa Group Limited.last_img read more

 

This FTSE 250 share has soared 30% in 2020. Do I still have time to buy?

first_img I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. See all posts by Alan Oscroft Simply click below to discover how you can take advantage of this. This FTSE 250 share has soared 30% in 2020. Do I still have time to buy? The high-calibre small-cap stock flying under the City’s radar Alan Oscroft | Thursday, 19th November, 2020 | More on: HFD KGF Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Adventurous investors like you won’t want to miss out on what could be a truly astonishing opportunity…You see, over the past three years, this AIM-listed company has been quietly powering ahead… rewarding its shareholders with generous share price growth thanks to a carefully orchestrated ‘buy and build’ strategy.And with a first-class management team at the helm, a proven, well-executed business model, plus market-leading positions in high-margin, niche products… our analysts believe there’s still plenty more potential growth in the pipeline.Here’s your chance to discover exactly what has got our Motley Fool UK investment team all hot-under-the-collar about this tiny £350+ million enterprise… inside a specially prepared free investment report.But here’s the really exciting part… right now, we believe many UK investors have quite simply never heard of this company before!center_img Enter Your Email Address Click here to claim your copy of this special investment report — and we’ll tell you the name of this Top Small-Cap Stock… free of charge! Alan Oscroft has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Kingfisher (LSE: KGF) shares fell as hard as most when the stock market crash kicked off. The FTSE 250 home improvement specialist also came back with the rest of the market. But when the general recovery faded in June, the Kingfisher share price just kept on going. It’s now up 32% year-to-date, which would be a cracking return any year.A Q3 update Thursday confirmed what we essentially knew already, that sales are soaring. It seems that, while locked down and unable to spend all our money in the pubs, we’re turning to ordering stuff to do up our homes instead. Sales in the quarter jumped by 17.6% to £3.5bn at constant currency. The firm’s e-commerce sales rocketed by 153%, and now account for 17% of total sales.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Beating the FTSE 250But is this gain already accounted for in the Kingfisher share price? It’s wiped the floor with the FTSE 250 itself, which is down 10%. But what will happen when when we’re past all these lockdowns? Will online sales start to fall off again, and will people find better places to spend their money in general?I suspect we will see a softening on sales once we’re past the coronavirus crisis. And the markets are already marking Kingfisher shares down. Since a peak in late October, the share price has given up some of its gains and fallen 13%. That’s while both the FTSE 100 and FTSE 250 have been climbing.Analysts predict a 40% rise in earnings this year, but they have a 14% drop penciled in for next year. Will that be a one-off fall back from 2020’s spending? Or will the trend of falling earnings at Kingfisher resume? Even the elevated earnings forecast for this year would only just beat 2017’s. I’m going to hold off and see.Small-cap championIf we want to see a stock that’s gyrated more wildly than Kingfisher this year, we need look no further than Halfords Group (LSE: HFD). The Halfords share price plunged by as much as 70% in the early days of the crash. But since hitting bottom in March, Halfords has staged one of the best recoveries of the year.At the time of writing, Halfords shares are up 48% year-to-date. Never mind FTSE 100 or FTSE 250 shares, this small-cap share has beaten most others hands down.Halfords shareholders were at little more than breakeven before a trading update on 1 October resulted in a huge spike. With trading going a lot better than expected, especially in the firm’s cycling business, Halfords predicted a pre-tax profit for the first half of more than £55m.Beating expectationsThat was confirmed Wednesday, with a profit figure of £56m. That came from a 9.6% rise in revenue. Similar to Kingfisher, Halfords recorded a 148% jump in online sales. The company is still cautious over the outlook for the second half, “given the seasonality of our business and the ongoing impact of Covid-19.” But I wouldn’t bet against it. And with a forecast P/E of only 10.3 for the 2021-22 year, I reckon Halfords shares are still good value.I’ve been concentrating mostly on FTSE 100 stocks for safety in this tough year. But these two show what gains I could miss if I ignore the FTSE 250 and Small Cap indexes. Our 6 ‘Best Buys Now’ Shares Image source: Getty Images last_img read more

 

Efforts to fix Vick’s Landing fence thwarted, for now

first_img Please enter your name here Please enter your comment! Kids ate being dropped off all along the roads. After leaving the parent drop off and trying to get to Vick rd. You can barely move because kids are darting across Martin from the other side. Their are many walking through traffic from the church. Then their parents dart in front of traffic after not having went through the drop off line holding the line up even more. Reply The Anatomy of Fear Support conservation and fish with NEW Florida specialty license plate TAGSApopka High SchoolOrange County Public SchoolsVick’s Landing Previous articleConsumers continue to use recalled SmartphonesNext articleChild Passenger Safety Week – Time to check your car seats Dale Fenwick RELATED ARTICLESMORE FROM AUTHOR 1 COMMENT Earlier this month The Apopka Voice reported on a problem created by a hole in the perimeter fence around Apopka High School.  According to residents in Vick’s Landing, the hole on the fence on the southeast side of the neighborhood has existed for years and is the catalyst for crime.Donnie Wilkes owns the house next to the hole.  He was the victim of a burglary in August.  Two Apopka High School students used the hole in their effort to avoid arrest, according to an eyewitness.  “It has been that way for a couple of years,” Wilkes told The Apopka Voice. “I wish they would fix that.”Mike Dornin lives a few houses from the hole.  He has observed students using the hole during school hours to meet other students on Vicks Landing Drive.  After a “hand-to-hand” exchange is made the students return to school through the hole.According to Orange County Public School spokesperson Lauren Roth, several steps have been taken to cure the situation:The hole has been fixed twice in the last week.  OCPS is aware that the temporary repairs have been vandalized and plan to patch it again, but a more permanent fix using a higher-gauge fencing will likely take several weeks.The Apopka Police Department has been notified of the recent vandalism.Apopka High School yesterday sent a message to parents letting them know that students may not be dropped off or picked up in Vick’s Landing to go to school.This morning, the AHS School Resource Officer turned away several students who were attempting to enter school in that area.Monitoring in the area will continue around school opening and closing times.The possibility of installing a camera is being consideredMike Dornin is glad to see some action being taken.“You would think OCPS would be able to secure one small hole in their perimeter.”center_img Cathleen McGee Free webinar for job seekers on best interview answers, hosted by Goodwill June 11 LEAVE A REPLY Cancel reply Share on Facebook Tweet on Twitter Save my name, email, and website in this browser for the next time I comment. You have entered an incorrect email address! Please enter your email address here September 20, 2016 at 7:09 pmlast_img read more

 

Shane Williams scores in extra time in farewell home game for Ospreys

first_imgSunday Apr 22, 2012 Shane Williams scores in extra time in farewell home game for Ospreys Shane Williams clearly knows how to do farewells. Not content with scoring with the final touch of the ball in his last ever game for Wales, he did the same again this weekend for the Ospreys, only on this occasion he stepped up and converted it too. On Friday the fantastic Shane Williams documentary was posted here, a piece by the BBC that charted the life and success of Williams, who is in his final ever season of rugby.The retiring winger played what could be his last ever home game for Ospreys on Friday night, billed as his farewell match, and he didn’t disappoint.As with his final Wales game against Australia in December, he didn’t get much of the ball and the night didn’t quite go his way. That is until injury time, as he sealed the Ospreys 31-12 win in style in front of their largest crowd in over a year, 14,468 fans.With Ospreys safe in the top four of the RaboDirect Pro12, a home semi final spot is all but assured, which means that we actually might be seeing Williams again, for yet another farewell match.“I’m not injured, which is great, and I’m there in contention for selection. I would never say no. If selected, great,” said Williams. “It’s not the end of the line yet even if I’m not selected by the Ospreys because I’m involved with the Barbarians.“But, if selected, I will certainly give my utmost in all the games,” he added.ADVERTISEMENT Posted By: rugbydump Share Send Thanks Sorry there has been an error Great Tries , See it to Believe it Related Articles 26 WEEKS AGO Incredible athleticism for sensational try… 26 WEEKS AGO ARCHIVE: Suntory score amazing try to upset… 26 WEEKS AGO WATCH: All 12 tries from EPIC Bristol-Clermont… From the WebThis Video Will Soon Be Banned. Watch Before It’s DeletedSecrets RevealedUrologists Stunned: Forget the Blue Pill, This “Fixes” Your EDSmart Life ReportsYou Won’t Believe What the World’s Most Beautiful Girl Looks Like TodayNueeyIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingWrinkle Remedy Stuns TV Judges: Forget Surgery, Do This Once DailySmart Life Reports10 Types of Women You Should Never MarryNueeyThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancellast_img read more

 

Ana House / DAR612

first_img Projects ArchDaily Area:  300 m² Area:  300 m² Year Completion year of this architecture project Ana House / DAR612Save this projectSaveAna House / DAR612 Ana House / DAR612 Year:  2015 Save this picture!© Robert Leš+ 14 Share Croatia ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/777838/ana-house-dar612 Clipboard Photographs CopyHouses•Splitska, Croatia Architects: DAR612 Area Area of this architecture project ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/777838/ana-house-dar612 Clipboard Year:  photographs:  Robert LešPhotographs:  Robert LešSave this picture!© Robert LešRecommended ProductsMetallicsKriskadecorMetal Fabric – Outdoor CladdingEnclosures / Double Skin FacadesRodecaRound Facade at Omnisport Arena ApeldoornFiber Cements / CementsRieder GroupFacade Panels – concrete skinCeramicsApavisaTiles – JewelsText description provided by the architects. This vacation house is located on a slope surrounded by olive groves, with the equisite view at the Brački kanal and the city of Split.  The slope’s orientation to the north resulted in the spatial disposition and the two-sided orientation of all the living spaces and the required use of pitched roofs initiated the two-part division with the monopitched roofs and the flat roof in-between.Save this picture!© Robert LešThe program required that the ground floor is used for the rest and other daily activities, while the first floor consists of four suites with separate bathrooms and terraces. The house consists od two design elements: the stone plinth connected to the surrounding terrain and the white volume that levitates above the living room which completely opens itself to the exterior with the glass curtains on the both sides.Save this picture!Ground Floor PlanIn the middle of the living area is a dining zone which opens both to the north and south terrace, and functions as the central axis of the house. It ends at the pool on the north side, and the jacuzzi bath integrated in the south end of the terrace.Save this picture!© Robert LešThe transparency of the ground floor enables the integration of both the interior and the exterior including the terraces and the pool as an extended zone of the living room. Save this picture!© Robert LešProject gallerySee allShow lessDo Architectural Preservationists Know What They’re Fighting For?ArticlesRIBA Future Trends Survey Shows Caution Despite Increase in Work in ProgressArchitecture News Share Houses “COPY” 2015 “COPY” CopyAbout this officeDAR612OfficeFollowProductsGlassStoneConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesSplitskaCroatiaPublished on November 28, 2015Cite: “Ana House / DAR612” 28 Nov 2015. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Browse the CatalogLouvers / ShuttersTechnowoodSunshade SystemsCompositesMitrexPhotovoltaic Solar Cladding – BIPV CladdingMetal PanelsAurubisCopper Alloy: Nordic BronzeBathroomsGeberitBathroom Series – ONESkylightsLAMILUXGlass Skylight F100 CircularMetal PanelsTrimoQbiss One in Equinix Data CentreSignage / Display SystemsGoppionDisplay Case – Q-ClassAluminium CompositesAmerican MetalcraftAluminum Panels – Decorative Fencing for BridgesPanels / Prefabricated AssembliesULMA Architectural SolutionsWater Facade PanelDoorsLinvisibileLinvisibile Concealed Sliding Door | MareaWall / Ceiling LightsiGuzziniExterior Light – WalkyWoodPlycoWood Boards – Birch LaserplyMore products »Save世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my streamlast_img read more

 

Call for opening of independent investigation into Paparazzi attack case

first_img Receive email alerts February 26, 2021 Find out more UkraineEurope – Central Asia News Read in russianReporters Without Borders urged President Viktor Yushchenko to open an independent and transparent investigation after a Molotov cocktail attack on the car of managing editor of the monthly Paparazzi as it was about to publish photos and an article critical of the president’s son.In the early morning attack on 30 September, a car belonging to Walid Harfouch, which was parked in front of his Kiev home, was badly damaged after the windows were broken and the firebomb hurled in.“Journalists on this magazine have been suffering constant harassment and we remind the authorities that there can be no exception to the principle of protection of sources,” the worldwide press freedom organisation said. The 62,000 circulation magazine was about to publish photos of the president’s son, Andriy Yushchenko, along with an article headlined, “How the tsarevich spends his holidays”.The president ordered Interior Minister Yuri Lutsenko to investigate the case on 2 October. At a press conference the following day, Lutsenko said that Harfouch had not made any link between his newspaper and the attempted assault.“That is untrue”, Harfouch himself told Reporters Without Borders. “The record of my statement has been posted on our website www.paparazzi.com.ua”.“They are obviously determined to brush this case under the carpet and we are victims of a campaign of denigration on the part of the authorities. Journalists on Paparazzi are suffering constant harassment from the Fraud Squad who want them to reveal who took the photos of Andriy Yushchenko” said Harfouch.The magazine’s offices have been occupied by police officers since 3 October. The magazine had a tax investigation slapped on it on 5 October. The investigators have not interviewed any of the witnesses to the attack but seized all the photos of the president’s son that were at the magazine.“They accused us of wanting to stage “a publicity stunt” for the magazine and to get the insurance for my car. That is absurd. The car was brand new and hadn’t even been insured,” Harfouch added. Ukrainian media group harassed by broadcasting authority Crimean journalist “confesses” to spying for Ukraine on Russian TV RSF_en Help by sharing this information News Follow the news on Ukrainecenter_img News October 11, 2005 – Updated on January 20, 2016 Call for opening of independent investigation into Paparazzi attack case to go further UkraineEurope – Central Asia September 7, 2020 Find out more March 26, 2021 Find out more Ukraine escalates “information war” by banning three pro-Kremlin media News Organisation last_img read more

 

€9 million to deliver new plan for region

first_imgTwitter Minister Heather HumphreysMORE than €9 million is available to deliver five ‘game changer’ projects across Limerick, Clare and Tipperary as part of a new Regional Enterprise Plan launched by Business and Enterprise Minister Heather Humphreys on Wednesday.Among the five strategic objectives is a strategy to make the Mid-West Ireland’s leading Smart City-Region and to achieve progress toward a low carbon economy in the region.Sign up for the weekly Limerick Post newsletter Sign Up The plan also seeks to develop workforce skills and enhance the region’s attractiveness for workers as well as developing the capacity to deliver economic growth and building a coordinated regional messaging brand.The development of the Mid-West Plan was overseen by the Department of Business, Enterprise and Innovation and a committee of regional stakeholders chaired by Barry O’Sullivan of Castletroy-based Johnson & Johnson Vision who will be responsible for its implementation.Speaking at the launch, Mr O’Sullivan said the regional committee was delighted with the success of the Mid-West Action Plan for Jobs, with 18,800 more people in employment now compared to when the plan was launched.“The Action Plan for Jobs has given us a framework for collaboration across public and private partners, which were leveraged to secure over €9.4 million from the Regional Enterprise Development Fund to deliver five new innovative game changer projects across the region.“The continuation of this crucial regional initiative by Minister Humphreys through the publication of the new Mid-West Regional Enterprise Plan reaffirms government’s commitment to regional growth.”“The new Mid-West Regional Enterprise Plan is focused on working toward our vision for the Mid-West region to be Ireland’s leading ‘Inclusive Smart City-Region’, utilising our unique asset base, converting emerging opportunities to jobs and continually up-skilling people, to ensure both enterprise and citizens have equal access to opportunities for growth,” Mr O’Sullivan concluded.Minister Humphreys said that the plan sets out a number of key strategic areas where regional stakeholders will provide a basis for future enterprise development and job creation that is sustainable in the longer term.“There are over 14,700 more people at work in the Mid-West today than at the beginning of 2015, when the Government first launched its regional jobs plans, and the unemployment rate has reduced significantly to 5.6 per cent from 12 per cent in 2015.“Notwithstanding this huge success, it is clear that there are new challenges emerging for enterprises in the external environment. Through this plan, the region can adopt a leadership position by driving initiatives from the ground-up.“As part of Project Ireland 2040, the Government has introduced a range of new funding streams such as the €1 billion Rural Regeneration Fund, the €2 billion Urban Development Fund, the €500 million Climate Action Fund and the €500 million Disruptive Technologies Fund,” Minister Humphreys said.County Limerick Fine Gael TD and Minister of State Patrick O’Donovan said he was confident that the Mid-West Regional Enterprise Plan will build on the excellent collaborative spirit evident in the region.“I am delighted to see an emphasis in the plan on the challenges and opportunities for Ireland in all regions, through ongoing digitalisation and the transition to a low carbon economy.“This new plan will support resilience in businesses and in communities and will also ensure that there is a pipeline of new opportunities so that the Mid-West region can positively engage with changes that lie ahead,” Minister O’Donovan added. WhatsApp Email Previous articleMan in serious condition following Limerick stabbingNext articleListen: The Last Post with Andrew Carey February 23, 2019 Staff Reporterhttp://www.limerickpost.ie NewsBusiness€9 million to deliver new plan for regionBy Staff Reporter – February 21, 2019 935 center_img Linkedin Advertisement Facebook Printlast_img read more

 

Supreme Court Weekly Round Up April 26 To May 2, 2021

first_imgTop StoriesSupreme Court Weekly Round Up April 26 To May 2, 2021 Nupur Thapliyal2 May 2021 7:12 AMShare This – xJUDGMENTS THIS WEEK1. Deduction Under Section 80-IA Income Tax Act Not Restricted To ‘Business Income’ Only: Supreme CourtCase: Commissioner of Income Tax-I Vs. Reliance Energy Ltd. [CA 1327 of 2021] Citation: LL 2021 SC 235The bench comprising Justices L. Nageswara Rao and Vineet Saran held that the scope of sub-section (5) of Section 80- IA of the Act is limited to determination of quantum…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginJUDGMENTS THIS WEEK1. Deduction Under Section 80-IA Income Tax Act Not Restricted To ‘Business Income’ Only: Supreme CourtCase: Commissioner of Income Tax-I Vs. Reliance Energy Ltd. [CA 1327 of 2021] Citation: LL 2021 SC 235The bench comprising Justices L. Nageswara Rao and Vineet Saran held that the scope of sub-section (5) of Section 80- IA of the Act is limited to determination of quantum of deduction under sub-section (1) of Section 80-IA of the Act by treating ‘eligible business’ as the ‘only source of income’.The court observed that the essential ingredients of Section 80-IA (1) of the Act are: a) the ‘gross total income’ of an assessee should include profits and gains; b) those profits and gains are derived by an undertaking or an enterprise from a business referred to in subsection (4); c) the assessee is entitled for deduction of an amount equal to 100% of the profits and gains derived from such business for 10 consecutive assessment years; and d) in computing the ‘total income’ of the Assessee, such deduction shall be allowed. “We hold that the scope of sub-section (5) of Section 80- IA of the Act is limited to determination of quantum of deduction under sub-section (1) of Section 80-IA of the Act by treating ‘eligible business’ as the ‘only source of income’. Sub-section (5) cannot be pressed into service for reading a limitation of the deduction under sub-section (1) only to ‘business income’.” The bench held.2. Supreme Court Directs High Courts To Reconsider And Update Rules Relating To Execution Of DecreesCase: Rahul S Shah vs. Jinendra Kumar Gandhi [CA 1659-1660 of 2021]Citation: LL 2021 SC 230The bench comprising former CJI SA Bobde, Justices L. Nageswara Rao and S. Ravindra Bhat directed the High Courts to reconsider and update all the Rules relating to Execution of Decrees, made under exercise of its powers under Article 227 of the Constitution of India and Section 122 of CPC, within one year.The observation came while issuing directions to reduce delays in the execution proceedings which shall be enforceable till the Rules are updated by High Courts. The court said that it must be ensured that the Rules are in consonance with CPC and the directions (issued now), with an endeavour to expedite the process of execution with the use of Information Technology tools.The Court observed that in suits relating to delivery of possession, the court must examine the parties to the suit under Order X in relation to third party interest and further exercise the power under Order XI Rule 14 asking parties to disclose and produce documents, upon oath, which are in possession of the parties including declaration pertaining to third party interest in such properties. In appropriate cases, where the possession is not in dispute and not a question of fact for adjudication before the Court, the Court may appoint Commissioner to assess the accurate description and status of the property.3. Section 3(2)(v) of SC/ST Act Will Attract As Long As Caste Identity Is One Of The Grounds For The Occurrence Of Offence: SC Doubts Earlier JudgmentsCase: Patan Jamal Vali vs. State of Andhra Pradesh [CrA 452 of 2021]Citation: LL 2021 SC 231The bench comprising Justices DY Chandrachud and MR Shah doubted the earlier judgments which interpreted Section 3(2)(v) of the Scheduled Castes and the Scheduled Tribes (Prevention of Atrocities) Act,1989, to mean that the offence should have been committed “only on the ground that the victim was a member of the Scheduled Caste.The Court observed that this provision will attract as long as caste identity is one of the grounds for the occurrence of the offence. To deny the protection of Section 3 (2) (v) on the premise that the crime was not committed against an SC & ST person solely on the ground of their caste identity is to deny how social inequalities function in a cumulative fashion, the court said.The bench was considering the appeal filed by one Patan Jamal Vali, the sole accused tried for the offences punishable under Section 376(1) of the IPC and under Section 3(2)(v) of Scheduled Castes and Scheduled Tribes (Prevention of Atrocities) Act for committing rape on the victim girl who is aged about 20 years and blind by birth, on 31.03.2011 at about 9:30 AM in her house. The High Court had affirmed the conviction of the accused by the Trial Court on these charges. The Supreme Court finally set aside the conviction of the accused under Section 3(2)(v) of the SC and ST Act but upheld the conviction and life sentence punishable under Section 376 IPC. Read Also: Testimony Of Disabled Witness Cannot Be Considered Weak Or Inferior: SC Issues Guidelines To Make Criminal Justice System More Disabled-friendlyIMPORTANT APEX COURT UPDATES1. Supreme Court Allows UP Panchayat Elections Counting To Take Place Tomorrow With COVID SafeguardsAfter a special sitting held on Saturday, the Supreme Court this week refused to defer the counting of the Uttar Pradesh Panchayat elections, scheduled to take place tomorrow, amid concerns about spread of COVID infection.A division bench comprising Justices AM Khanwilkar and Hrishikesh Roy allowed the counting to take place tomorrow based on the “solemn assurances” given by the Uttar Pradesh State Election Commission that sufficient safeguards have been taken to ensure that COVID protocol is followed at counting centres.”We reject the request for deferring the counting by recording the submissions of the SEC that all protocols will be observed in letter and spirit”, the bench said in the order. 2. COVID- Supreme Court Asks Centre Whether It Intends To Frame National Policy On Admission Guidelines To HospitalsIn view of the arbitrary and unjust treatment being meted out by hospitals to patients in matters of admission, the Supreme Court this week inquired from the Centre if it intends to formulate a national policy to serve as admission guidelines for all hospitals.If the answer to the above is in the affirmative, the bench of Justices D. Y. Chandrachud, L. Nageswara Rao and Ravindra Bhat seeks to know what the centre proposes the time-frame of the policy to be, and if the states/UTs, the medical fraternity and the other stakeholders have been consulted in the framing of the policy.Read Also: ‘Don’t Leave Vaccine Pricing And Distribution To Manufactures’: Supreme Court Questions Centre’s COVID Vaccination Policy3. “We Don’t Want To Hear People Crying for Oxygen Cylinders”: Supreme Court -Courtroom Exchange In Suo Motu Covid Hearing”We don’t want to hear people crying for cylinders of oxygen. There has to be some difference between today and the next day of hearing. The intervention of the Supreme Court has to result in something for the citizens”, observed Justice DY Chandrachud this week.The bench, also comprising Justices L. Nageswara Rao and Ravindra Bhat, was hearing SG Tushar Mehta on the issue of oxygen supply to the states and UTs by the Centre.”Although nobody had anticipated this second wave of Covid, the central government is prepared for it. No country in the world could have anticipated that this quantity of oxygen would be needed. But India was not an oxygen-surplus country before the pandemic.The central government has pulled whatever oxygen we have from whichever source possible – I am not using the word ‘get’ but ‘extract’ – we have extracted as much oxygen as we could have from wherever possible…”, the SG told the bench. Read Also: Why Centre Not Considering Compulsory Licensing For COVID Drugs Like Remdesivir, Tocilizumab? Supreme Court Asks4. Most Precious Fundamental Right To Life Unconditionally Embraces Even An Undertrial: Supreme Court in Sidhique Kappan CaseThe most precious fundamental ‘right to life’ unconditionally embraces even an undertrial, the Supreme Court observed while directing to shift Kerala journalist Sidhique Kappan from Mathura Jail in Uttar Pradesh to a Government hospital in Delhi for medical treatment.The bench comprising Chief Justice of India NV Ramana, Justices Surya Kant and AS Bopanna observed thus in the order passed in a habeas corpus petition filed by Kerala Union of Working Journalists(KUWJ) seeking Kappan’s release.While considering the plea, the court noted from the Medical Report submitted before it that Kappan had tested COVID-19 Positive on 21st April, 2021, was having fever (T-102F) and had also suffered an injury as he fainted and fell down in the bathroom for which intervention of a surgeon was suggested. It was stated therein that he is having multiple health issues like diabetes, heart ailment, blood pressure and bodily injury. However, the next set of medical reports and the additional affidavit circulated by the State this morning show that he has tested COVID-19 Negative, the court noted. Also Read: ‘In UP Also, COVID Positive People Are Not Getting Hospital Beds’, Solicitor General Tells Supreme Court In Siddique Kappan Case5. Don’t Clampdown On Citizens’ SOS Calls For Medical Help Through Social Media :Supreme Court Warns Of Contempt Action Against States, PoliceThere should not be any coercive action against any citizen for putting out an SOS call on social media seeking medical help for COVID, said the Supreme Court this week.The Court strictly said that contempt action will be taken against police officers who clampdown on citizens who ventilate their grievances with respect to COVID in public platforms.”If citizens communicate their grievance on social media and internet, then it cannot be said that it’s wrong information,” observed Justice DY Chandrachud today while hearing the suo moto case pertaining to COVID-19 related issues.6. Supreme Court To Examine Constitutional Validity Of Offence Of Sedition Under Section 124A IPCThe Supreme Court this week issued notice in a plea challenging the constitutional validity of the provision of the Indian Penal Code that penalises the law of sedition.A three-judge Bench of Justice UU Lalit, Justice Indira Banerjee and Justice KM Joseph were hearing a plea filed by challenging section 124-A of the Indian Penal Code, 1860, which penalises the crime of “sedition”.The petitioner has prayed that Section 124-A be declared unconstitutional and void and be struck out of the Indian Penal Code.The plea has been filed by two journalists working in the states of Manipur and Chhattisgarh. According to them, they have been raising questions against their respective state governments and Central Government, and have been charged with sedition under section 124A of IPC in various FIRs for comments and cartoons shared by them on the social networking website Facebook. 7. Supreme Court Refuses To Entertain PIL Seeking CBI Probe Into Death Of Kalikho Pul, Ex-Arunachal CMThe Supreme Court this week refused to entertain a Public Interest Litigation(PIL) petition which sought CBI investigation into the unnatural death of Kalikho Pul, former Chief Minister of Arunachal Pradesh, in August 2016. The PIL was filed by an NGO named “Social Vigilance Team”.A bench comprising Justices UU Lalit, KM Joseph and Indira Banerjee allowed the petitioner to withdraw the petition to seek other remedies as are open in law.When the matter was taken, Justice Lalit pointed out to Senior Advocate Siddhartha Dave, the counsel for the petitioner, that the widow of Kalikho Pul had approached the Supreme Court in 2017, and that matter was withdrawn with liberty to approach the President of India with a representation. 8. Supreme Court Allows Vedanta To Produce Oxygen At Sterlite Plant In Tamil NaduThe Supreme Court this week permitted Vedanta to operate its Oxygen production unit on standalone basis at Copper plant in Tuticorin, which had been closed for 3 years. The permission has been granted in view of acute Oxygen shortage being faced by many states in the country, amid the second-wave of Covid-19.A Supreme Court bench headed by Justice DY Chandrachud passed the order after taking on record the decision taken by the Tamil Nadu government at an an all party meeting, to allow the re-opening of the Vedanta plant for four months for oxygen production.”Vedanta can open the plant only to produce medical grade oxygen…The order is passed only in view of the national need for oxygen. The order will not create any equities in favour of Vedanta,” clarified the Apex Court. 9. Supreme Court Restores Order Extending Limitation; Period From 14.03.2021 Excluded From Computing Limitation Period Until Further OrdersThe Supreme Court this week extended limitation period for the filing of cases in courts and tribunals with effect from 14.03.2021 until further orders in view of the second wave of the COVID19 pandemic.The Court said the COVID19 second wave has created an “alarming situation” and has put the litigants in a “difficult situation”.The bench extended all periods of limitation ending on 14.03.2021 until further orders, by restoring the order passed on March 23, 2020, which had extended the limitation period. The period from 14.03.2021 will stand excluded from computing the limitation period under all special and general laws. Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Storylast_img read more

 

New Jersey police officer rescues teddy bear after 12-year-old with autism calls 911

first_imgWABC-TV(WOODBRIDGE, N.J.) — A boy with autism who called 911 to report that his beloved teddy bear was missing was connected with just the right officer to conduct a search and rescue response to recover the stuffed animal.Woodbridge Police officer Khari Manzini responded to the New Jersey home of 12-year-old Ryan Paul last week after Ryan placed a phone call to emergency dispatchers, telling them that Freddy, his handheld-sized friend, hadn’t been seen in some time, ABC New York station WABC-TV reported.Ryan lost the brown bear while playing in his room, but decided that first responders would be a better option than his parents to help find him, News 12 New Jersey reported.Ryan’s father, Robert Paul, told WABC-TV he was shocked at first to learn that his son had made the call.“I said, ‘Ryan, did you call 911?’” Paul said, prompting his son to reply, “Teddy bear rescue.”Manzini, who has received special training in autism recognition and response, found Freddy once he arrived to the Pauls’ home. It is unclear exactly where the teddy bear was located.“We found the teddy bear, the teddy bear was OK,” Manzini said. “He was in safe hands, no injuries, nothing like that.”Cameras caught the moment Ryan hugged the officer, thanking him for saving his teddy bear. Manzini told News 12 that getting to know the residents and making them feel comfortable is a “major part” of his job.Paul took to Facebook to thank Manzini for his “kindness and understanding” as well as the emergency dispatcher who called the right officer to their home.“I’m glad that we have such a fine and caring police department,” Paul wrote. The firefighter joked that he was “offended” that his own son didn’t enlist his help in the rescue.Paul told News 12 that he’s proud of his son for knowing what to do in an emergency, adding that they need to work on fine-tuning the skill to use in an actual emergency.Copyright © 2019, ABC Radio. All rights reserved.last_img read more