The live blog session has concluded. For more news, views and updates, stay tuned with Moneycontrol.com.
Imran Khan's arrest: UN official stresses need to ensure all political figures in Pakistan are treated fairly
A top UN official Tuesday stressed the need to ensure all political figures in Pakistan are treated fairly and that due process is followed, hours after former prime minister Imran Khan was arrested from a court premises in a graft case. "Regarding that, you are aware of our concerns of making sure that all of the political figures in Pakistan are treated fairly and of course that due process is followed. So we will monitor this process as it goes on to make sure that our concerns are being addressed," said Farhan Haq, Deputy Spokesperson for UN Secretary General Antonio Guterres.
Appeals to voters on social media outside polling area not under ambit of law: EC sources on Cong complaint against PM
With the Congress accusing Prime Minister Narendra Modi of violating the law by issuing appeals to Karnataka voters through social media during the "silence period", sources in the Election Commission on Tuesday said such appeals made outside the polling area do not come under the ambit of the existing law. The law, as exists, prohibits the act "in any polling area" only, they said.
TN Cabinet reshuffle: Dairy minister dropped, TRB Rajaa inducted in Stalin-led council of ministers
Tamil Nadu Dairy Development Minister S M Nasar has been dropped from the MK Stalin-led cabinet and TRB Rajaa has been included in the council of ministers. Governor R N Ravi has accepted CM Stalin's recommendations, a Raj Bhavan statement said on Tuesday. This is the second reshuffle of the Stalin-led cabinet that assumed office in 2021.
'Tell us why Imran Khan has been arrested': Islamabad HC summons top officials, reserves judgement
The Islamabad High Court summoned top officials and police officers after paramilitary Rangers dramatically arrested former Pakistan prime minister Imran Khan in a corruption case from the court premises but reserved its ruling, news agency PTI reported. "Come to court and tell us why Imran has been arrested and in which case," Chief Justice Amer Farooqwas quoted as saying.
Indian defence forces keeping close watch on situation in Pakistan: Report
The Indiandefenceforces are maintaining a close watch on the situation that is emerging in Pakistan following the arrest ofImranKhan, news agency ANI reported, citingdefencesources. A strong vigil is being kept along the Line of Control and the international border that demarcates the two countries, the sources reportedly said.
India market regulator issues notices to PTC India financial arm
India's market regulator has issued legal notices to government owned PTC India and its financial services unit PTC India Financial Services (PFS), demanding explanations of alleged corporate governance lapses, two people familiar with the matter said. PTC India, a power trading company, and PTC India Financial Services, a finance company, have been given 21 days to reply to the show cause notice that requires them to explain before the market regulator why action should not be taken against them, the sources said.
Female cheetah dies in MP's Kuno National Park; third death in 42 days
A female cheetah from South Africa, named Daksha, died in Madhya Pradesh's Kuno National Park on Tuesday, following a violent interaction with a male during a mating attempt, the Union environment ministry said. This marks the third cheetah death in the park within a month and a half. One of the Namibian cheetahs, Sasha, died due to a kidney-related ailment on March 27, and another cheetah, Uday, from South Africa, died on April 13. The sudden deaths have conservationists and wildlife experts questioning the carrying capacity of the Kuno National Park and the decision to keep the cheetahs in fenced enclosures.
Imran Khan arrested from Islamabad High Court premises in corruption case, supporters storm Army GHQ
Former prime minister Imran Khan was arrested and bundled into a prison van by paramilitary Rangers on Tuesday from the Islamabad High Court, sparking massive protests across Pakistan by his supporters who stormed the army headquarters in Rawalpindi and the Corps Commander's residence in Lahore. The arrest of the 70-year-old former cricketer-turned-politician comes a day after the powerful army accused Khan of levelling baseless allegations against a senior officer of the spy agency ISI.
Interim bail of TV journalist extended, two others get relief from high court
The Punjab and Haryana High Court on Tuesday extended the relief granted to TV journalist Bhawana Kishore and also gave interim bail to her cameraman and driver till May 23. The three were arrested by Punjab Police after their vehicle hit a woman in Ludhiana on Friday. They were also accused of using derogatory language against the complainant. On Saturday, Kishore, a Times Now Navbharat journalist, was granted interim bail by the court.
Same-sex marriage: Arguments premised on ground that Parliament not likely to pass law a dangerous proposition, Jamiat tells SC
'Jamiat-Ulama-i-Hind', a body of Islamic scholars, told the Supreme Court of Tuesday the argument advanced by the petitioners that the apex court should make a declaration about legal validation for same-sex marriage as Parliament is not likely to do anything about it, is a "very dangerous proposition". Senior advocate Kapil Sibal, appearing for 'Jamiat-Ulama-i-Hind', told a five-judge constitution bench headed by Chief Justice D Y Chandrachud that a declaration on the premise that Parliament is not likely to pass a law on same-sex union will be a "wrong step forward".
News Alert
Assam government has decided to form an expertcommittee to examine whether state legislature was empowered to prohibit polygamy: Chief Minister Himanta Biswa Sarma
EAM Jaishankar meets UN secretary general's special envoy on Myanmar
External Affairs Minister S Jaishankar on Tuesday met UN Secretary General's Special Envoy on Myanmar Noeleen Heyzer and discussed with her the situation in the neighbouring country. "Glad to receive Dr Noeleen Heyzer, UNSG's Special Envoy on Myanmar. Appreciate her perspectives and support her efforts," Jaishankar tweeted.
Raghav Chadha, Parineeti Chopra to get engaged on May 13: AAP source
Party (AAP) leader Raghav Chadha and actor Parineeti Chopra will get engaged on May 13, a party source said. The ceremony, to be held in the national capital, will be attended by around 150 guests, including family and close friends. "Raghav was in Mumbai for the last few days and today they both flew down to Delhi. Now till the engagement, Parineeti will stay here," the source told PTI on Tuesday.
Female cheetah Daksha, who died in Kuno National Park, has suffered wounds during an interaction with male cheetah: Govt
"Prima facie, the wounds found on the female cheetah Daksha seem to have been caused by a violent interaction with the male, during the courtship/ mating attempt... The autopsy of the dead female cheetah (Daksha) is being carried out by the veterinary team as per the protocol,"the Ministry of Environment, Forest and Climate Change said.
Nazara Technologies reports Q4 earnings
- Net profit up 18.2% at Rs 2.6 cr Vs Rs 2 cr (YoY)
- Revenue up 65% at Rs 289.3 cr Vs Rs 175.1 cr (YoY)
- EBITDA at Rs 27.2 cr Vs Rs 12.9 cr (YoY)
- Margin at 9.4% Vs 7.4% (YoY)
NCLT order on Go First plea seeking moratorium to be issued on May 10
The National Company Law Tribunal (NCLT) will pronounce its order on May 10 on Go First's plea seeking moratorium on financial obligations. The tribunal had reserved its order on May 4, two days after the loss-making carrier had submitted a plea.
Manipur's situation improves, normalcy returns in several areas: Official
"The situation in Manipur has improved. Normalcy has returned in many places and curfew has also been relaxed," Kuldeep Singh, Security Advisor, Manipur told news agency ANI.
Go First lessors request to deregister and export 7 more A320 aircraft from India
Lessors of Go First have requested to deregister and export 7 more A320 aircraft from India, a DGCA official said.
Imran Khan sent for medical examination
Former Pakistan prime minister and Tehreek-e-Insaf party chief Imran Khan, who was arrested earlier in the day in theAl-QadirTrust case, has been referred to a seven-member medical board at the Poly Clinic in Islamabad for a medical examination, Pakistan's ARY News reported.
Rayment approves issuance of NCDs for up to Rs 2,200 cr for repayment of external debt
Raymond Board approves issuance of Non-Convertible Debentures (NCDs) for up to Rs 2,200 crore in two or more tranches on private placement basis for repayment of external debt.
Female cheetah brought from South Africa has died in Kuno National Park
A female cheetah, namedDaksha,who was brought from South Africa has died in Kuno National Park, as per a statement issued by Madhya Pradesh'sChief Conservator of Forest JS Chauhan. This is the third death of cheetahs so far.
DRDO scientist held on espionage charge sent to ATS custody
DRDOscientistPradeepKurulkar, who was arrested last week on alleged espionage charges, has been sent to ATS custody till May 15 by Pune's Special ATS Court.
Eveready reports Q4 earnings
- Net loss of Rs 14.4 crore vs loss of Rs 38.4 crore (YoY)
- Revenue up 18.2% at Rs 286.2 crore vs Rs 242.2 crore (YoY)
Imran Khan pushed by Pakistani Rangers while being arrested: PTI
Pakistan Tehreek-e-Insaf (PTI) in a statement said that the Pakistani Rangers, which arrested Imran Khan outside the Islamabad High Court, mistreated the former premier and "pushed him" despite him being injured.
Ex-Pakistan PM Imran Khan arrested: Report
Former Pakistan prime minister Imran Khan, who has been facing a spree of cases since his ouster from the top political office last year, has been arrested by the Pakistan Rangers from outside the Islamabad High Court, reports said.
Alert:
Assam CM Himanta Biswa Sarma affirmed thatthe state government has signed MoUs with leading private investors which is expected to attract investment worth Rs 8,200 crores leading to the creation of 6,100 jobs in the state
Matrimony reports Q4 earnings
- Net profit down 2.7% at Rs 11.4 crore vs Rs 11.7 crore (YoY)
- Revenue up 3.5% at Rs 114.5 crorevs Rs 110.6 crore (YoY)
- EBITDA down 10.7% at Rs 16.7 crorevs Rs 18.7 crore (YoY)
- EBITDA margin at 14.6% vs 16.9% (YoY)
Sanction to the merger of NAM Estates and Embassy One withheld by NCLT
The sanction to the merger of NAM Estates and Embassy Onehas been withheld by the National Company Law Tribunal (NCLT), Indiabuls Real Estate said in a press release.
Alert:
Go First says it had stopped taking bookings before DGCA notice, and will respond in due course.
IndiGo notifies of 11 special flights from Imphal between May 6 and May 9
"IndiGohas operated 9 flights from Imphal between May 6 and May 8,2023, toincrease capacity for travel to Kolkata, Guwahati, Agartala, and Hyderabad. The airline will add 2 additionalflights on May 9, 2023 from Imphal to Patna and Kolkata. IndiGo is operating these flights with A320 andATR aircraft," the airlinesaid in a statement to the press.Apart from operatingregularflightsfromImphaltoKolkata,Delhi,Dibrugarh,Agartala and Shillong, IndiGo also waived off the rescheduling and cancellation charges on all flights to andfrom Imphal from May 4 to May 11.
Filmmaker Vivek Agnihotri takes it up legally with West Bengal CM Mamata Banerjee, who called his film 'The Kashmir Files' 'propaganda'
"Yesterday Mamata Banerjee said that ' and my upcoming film which is based on the genocide in Bengal, are propaganda. She said that BJP funds me for the films I make. We have sent a legal notice to CM Mamata Banerjee against the statements she made," said Agnihotri
West Bengal:
Union Home Minister Amit Shah lays the foundation stone for the 2nd Kargo Gate of the Land Port Authority of India & inauguration of various projects of the BSF, at ICP Petrapole, Distt. North 24 Parganas.
Cyclone Mocha update:
Sagar block Disaster Management Control Room in South 24 Paraganas, West Bengal,reviews preparedness in view of cyclonic storm 'Mocha' forming over the Bay of Bengal
Karnataka Muslim quota case:
Don't make political comments on sub-judice matters, SC tells parties.Today, the Supreme Court expressed its strong disapproval of political statements being made regarding a sub-judice matter pertaining to the withdrawal of a 4% Muslim quota in Karnataka. The court emphasized that a certain level of respect should be maintained when there is a court order.
Alert :
CJIsays the SC is working on a technologythat simultaneously translates English arguments to Indian language(s) during live streaming
Karnataka's scrap order on Muslim quota; the chronology:
On April 13, the Karnataka government's decision to scrap the 4%percent Muslim quota ahead of the assembly polls came under the scanner of the Supreme Court, which questioned the government order and said prima facie it appeared to be on a "highly shaky ground" and "flawed". Taking note of the observations, the Karnataka government had assured the top court that it will put on hold its March 24 orders by which it had given quotas in admission to educational institutions and appointment in government jobs to Vokkaligas and Lingayats, till the next date of hearing.
The four percent reservation for Muslims was to be equally split between the two communities.
On April 18, the top court had deferred till April 25 hearing on a batch of pleas challenging the scrapping of the four percent Muslim quota. On April 25, the bench had deferred the hearing of the case till May 9 with a similar order.
Alert:
SC defers the hearing of pleas challenging theKarnataka government order challenging 4% OBC reservation to Muslims. No appointments/admissions will be made based on the order scrapping, andthe reservation will continue till further orders. Case to come up next on July 25.
Pakistan could default without IMF bailout loans, Moody’s warns
Pakistan could default without an International Monetary Fund bailout as its financing options beyond June are uncertain, Moody’s Investor Service said. “We consider that Pakistan will meet its external payments for the remainder of this fiscal year ending in June,” a sovereign analyst with the ratings company in Singapore said. “However, Pakistan’s financing options beyond June are highly uncertain. Without an IMF program, Pakistan could default given its very weak reserves.” Pakistan is struggling to restart a $6.5 billion bailout program from the Washington-based lender, which has stalled after the government failed to meet some loan conditions.
Covid Alert
India sees 1,331 new Covid cases; active caseload falls to 22,742
LinkedIn cuts over 700 jobs, phases out China app
LinkedIn, the social media network owned by Microsoft, announced it would slash 716 jobs and also shutdown its China-focused job application. LinkedIn, which has 20,000 employees, has grown revenue each quarter during the last year, but it joins other major technology companies including its parent in laying off workers amid a weakening global economic outlook.
News Alert
'The Kerala Story' to be made tax-free in Uttar Pradesh, tweets CM Yogi Adityanath; deputy CM lauds decision.The Madhya Pradesh government had declared the movie tax-free in the state on May 6.
Offshore activities banned, measures taken as cyclone Mocha may progress towards coast of Bangladesh, Myanmar
The weather office said a low-pressure area that developed over the southeast Bay of Bengal on Monday is anticipated to strengthen into a cyclone and is likely to progress towards the coast of Bangladesh and Myanmar later this week. The India Meteorological Department has suggested regulation of tourism and offshore activities and shipping near Andaman and Nicobar Islands and over the sea areas of southeast and central Bay of Bengal till Friday.
Fitch affirms India rating as 'BBB-', maintains stable outlook
Fitch has affirmed India's rating as BBB- with a stable outlook on the back of robust growth outlook and resilient external finances. It has forecast India to be one of the fastest-growing Fitch-rated sovereigns globally at 6% in the fiscal year ending March 2024 (FY24). The report stated that headwinds from elevated inflation, high interest rates and subdued global demand, along with fading pandemic-induced pent-up demand, will slow growth from our FY23 estimate of 7.0% before rebounding to 6.7% by FY25.
NIA searches under way in Tamil Nadu
National Investigation Agency officials held searches at in Madurai, Theni and Dindigul in Tamil Nadu today, say police sources.