Mishra spins web as India crush NZ by 190 runs, win series 3-2

Visakhapatnam, Oct 29 (PTI) Amit Mishra produced a magical spell to claim 5 for 18 as India clinched five-match ODI series 3-2 with a thumping 190-run victory in the final game, here today.

It was a perfect Diwali gift for the Indian cricket fans as Mahendra Singh Dhoni's men carried the demolition job in style as the spinners made Black Caps' succumbed to their lowest-ever total against India in ODIs.

Batting first, India scored 269 for six on a surface where scoring was difficult as Rohit Sharma (70) and Virat Kohli (65) hit half-centuries.

In reply, New Zealand were skittled out for a paltry 79 in only 23.1 overs. There were five New Zealand batsman who failed to open their account during their dismal last day on Indian soil.

Mishra, who picked his second five-for was supported well by Axar Patel (2/9 in 4.1 overs) and Jayant Yadav (1/8 in 4 overs).

The leg-spinner, who did not get a chance during the Test series ended up with 15 wickets in the five-match series. Not only did his performance fetch him Man of the Match but also the Man of the Series award pipping Virat Kohli, who scored 358 runs with a century and two half-tons.

A score of 270 on a surface where the ball wasn't coming onto the bat would have been a challenge but New Zealand would have hardly imagined that wickets will fall in a heap when they were placed at 63 for 2.

The visitors lost eight wickets with addition of just 16 runs in space of 51 balls dashing hopes of their first bilateral series win in India.

It took five balls for the Kiwis to realise that the road ahead is rocky when Umesh Yadav cleaned up last match's hero Martin Guptill to make them 0/1 in first over.

Fresh from his match-winning 72 in Ranchi, Guptill was done in a by a beautiful good length ball from Yadav as it squared him up, grazed the pad before toppling the off-stump.

Skipper Kane Williamson and New Zealand's most consistent batsman of the series, Tom Latham (19) tried to build a partnership but before they could settle down a fit-again Jasprit Bumrah gave another breakthrough dismissing the left-hander to end a 28-run partnership.

On a pitch that offered turn, Dhoni brought on left-arm spinner Axar in the ninth over as Williamson and Taylor survived some anxious moments in the middle and progressed at steady pace to being 46/2 after the Powerplay.

Little did they know that they would crash in no time as Dhoni employed spin-force full on from both ends and no one disappointed including debutant off-spinner Jayant, who trapped Corey Anderson (0) lbw en route to his maiden wicket.

Sebi's educational trust comes out in CSE support

Kolkata, Oct 29 (PTI) National Institute of Securities Markets (NiSM), an educational institute established by the Sebi, came out in support for Calcutta Stock Exchange saying 'continuance of CSE far outweighs its discontinuance'.

The country's largest regional bourse, on the fourth consecutive Diwali without trading on its platform C-Star following Sebi's directives, received a surprise with the NiSM supporting its existence.

A recent 'CSE business plan' prepared by the School for Securities Information and Research of NiSM has noted, "On a social cost benefit analysis (SCBA) basis, the 'continuance' of CSE far outweighs its discontinuance." 

Adding further, the report pointed that CSE will have a beneficial impact on investors, intermediaries and issuers with the consequent benefits flowing to a larger ecosystem.

"A detailed consideration of national factors makes a strong case for the role of CSE in eastern India.

International experience shows that closure of small and regional exchanges has been proactively pursued in any jurisdiction," the report stated.

The Sebi had directed CSE not to continue with the clearing and settlement activities of trades executed on C-Star through its clearing house beyond April 5, 2013, till the bourse establishes a clearing corporation in compliance with the provisions of SECC regulations or ties up with another clearing corporation.

The report pointed out numerous rationale for its existence and future role of RSEs.

CSE officials declined to comment on the business plan prepared by the NiSM's research arm.

As per the Sebi norms, a stock exchange whose annual trading turnover is less than Rs 1,000 crore can apply for voluntary surrender of recognition and exit.

Two civilians killed in Pak firing; BSF says it has killed 15 Pak soldiers in one week

Jammu, Oct 28 (PTI) As military confrontation increased on the border, two civilians were killed in Jammu region of India in cross-border shelling and firing overnight even as BSF today claimed to have killed 15 Pakistani soldiers over the last one week.

BSF, which primarily guards the International Border with Pakistan, said it had also foiled two infiltration bids in Samba district two days back. Besides, BAT (Border Action Team) attacks from Pakistani side along the Line of Control have also been thwarted during the past 24 hours.

Firing mortar shells and using automatic weapons, Pakistani troops targeted civilian areas and forward security posts along the International Border and Line of Control in Jammu, Kathua, Poonch and Rajouri districts of Jammu and Kashmir.

"At 1720 hour yesterday, Pakistan Rangers started unprovoked heavy firing and shelling in Kathua sector of Jammu which further spread to Hiranagar and Samba. It continued till 0500 hours today in the area of 24 BSF posts," a senior BSF officer said.

"In the Pakistani shelling, one civilian died in Khour belt of Pallanwala sector today," Jammu Deputy Commissioner Simrandeep Singh said, adding another civilian was injured in R S Pura sector.

Similarly, one woman Usma Bi, aged 50 years, was killed in shelling by Pakistan on Gohlad village in Mendhar tehsil of Poonch district today, Defence spokesman said.

Another civilian was injured in area, the reports said.

BSF Additional Director General Arun Kumar said as per the ammunition used, it seems Pakistani Army Army is backing the Rangers and has taken over the posts of paramilitary force, which is further cause of escalation.

Kumar, who laid wreath at the moral remains of the BSF martyr Head Constable Jitendra Singh here, said "they (Pakistani side) are resorting to heavy firing and shelling and we are giving them befitting reply." 

He said BSF has inflicted heavy damage on Pakistani side.

"As far the number of casualities on other side is concerned, which our men have seen through our eyes and instruments, 15 Pakistani soldiers have been killed after the sniping incident of Constable Gurnam Singh (on October 21)," he said. Gurnam was injured in the sniper firing and then succumbed to the injuries.

"They (Pakistani side) have suffered damage but are hiding them in public domain and they do not accept it. Last night we have destroyed their OP (observation post) towers and some OP towers caught fire due to our firing," Kumar said.

He said Pakistani Rangers, Pakistani regulars and civilian population on their side have suffered heavy damage because of the Indian retaliation.

"The damage to civilian population is much more (than us)... We have seen large number of ambulances coming and picking up injured. They have been making announcements from mosques asking people to assemble for last rites. All that points that they suffered a lot," the BSF officer said.

Samvat 2072 comes to a close, Sensex ticks up 26 pts

Mumbai, Oct 28 (PTI) Samvat year 2072 drew to a close on a positive note as the Sensex on Friday closed higher by 26 points, aided by a rebound in Tata group stocks on value-buying and signs of earnings revival.

The benchmark has risen 2,198.25 points, or 8.53 per cent, from the previous Hindu Samvat year while the broader NSE Nifty surged 854.65 points, or 10.98 per cent, during this period.

For the week though, the Sensex dropped 135.67 points, or 0.48 per cent, while the Nifty lost 55.05 points, or 0.63 per cent.

The day marked the beginning of the November series of derivative contracts. The inflows into derivatives in the last few days has pushed rollovers higher.

The Sensex settled at 27,941.51, up 25.61 points, or 0.09 per cent. It had gained 79 points on Thursday.

The Nifty edged up 22.75 points, or 0.26 per cent, to end at 8,638.

"The auspicious festival season followed by value-buying in Tata group stocks persuaded the market to make a small comeback after a slew of corrections," said Vinod Nair, Head of Research, Geojit BNP Paribas Financial Services.

After all the turbulence, select Tata group shares came back to the green on value-buying. Tata Motors, Tata Steel and Tata Global Beverages and Tata Chemicals recovered by up to 2.68 per cent.

Bajaj Auto too spurted by 3.35 per cent after the company today reported 7.2 per cent rise in consolidated net profit at Rs 1,200.72 crore for the second quarter to September.

Software exporter Tech Mahindra climbed 5 per cent even after the company reported a 16.93 per cent dip in September quarter net income.

As many as 17 scrips out of the 30-share Sensex ended higher while 12 finished lower. Power Grid ended flat.

In the range-bound trade today that showed a positive bias, buying was seen across the board as most BSE sectoral indices closed with gains up to 2.09 per cent.

Auto, realty, metal, banking and healthcare counters took the lead. Investors chased second-line stocks too.

Meanwhile, provisional data showed foreign portfolio investors (FPIs) sold shares worth a net Rs 469.93 crore on Thursday.

Asian stocks except Japan closed lower on increasing expectations the Federal Reserve will lift interest rates by this year end. Key indices from Hong Kong, Shanghai Composite and Singapore finished lower between 0.26 per cent and 0.77 per cent.

European stocks were trading in the negative terrain in early trade on weak earnings reports. Key indices in London and Frankfurt were down by up to 0.50 per cent while Paris CAC was slightly higher.

The BSE and NSE will conduct a special Muhurat trading session on Sunday, October 30, from 1830 hours to 1930 hours.

Both the exchanges will remain closed on Monday for Diwali Balipratipada. .

Centre approves 2% DA, to benefit over 1 cr staff, pensioners

New Delhi, Oct 27 (PTI) Ahead of Diwali, the Centre today approved 2 per cent dearness allowance and relief benefitting about 50.68 lakh employees and 54.24 lakh pensioners.

The decision to provide 2 per cent DA on basic pay was taken by the Union Cabinet and will be effective from July 1, 2016.

The 2 per cent DA will result in annual burden of Rs 5,622.10 crore, though for period of 8 months (July-February in 2016-17), it would be Rs 3,748.06 crore.

The central government had increased DA by 6 per cent to 125 per cent in March this year. DA was later merged with the basic pay following the implementation of 7th Pay Commission.

"The Union Cabinet has given its approval to release an instalment of DA to Central Government employees and Dearness Relief (DR) to Pensioners from July 1, 2016 representing an increase of 2 per cent of the revised Basic Pay/Pension, to compensate for price rise," a press statement said.

According to statement, the increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission.

The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be Rs 5,622.10 crore per annum and in the Financial Year 2016-17 for the period of 8 months (i.e. from July 2016 to February 2017), it would be Rs 3,748.06 crore.

Modi-Key talks: NZ assures "constructive" approach on NSG bid

New Delhi, Oct 26 (PTI) India and New Zealand today agreed to strengthen ties in key areas of trade, defence and security during talks between Prime Minister Narendra Modi and his Kiwi counterpart John Key, who also assured that his country will contribute "constructively" to the process currently underway in the NSG to consider India's membership.

After the "productive" talks between the two Prime Ministers, the two sides inked three pacts including one pertaining to Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and decided to establish Foreign Minister-level dialogue as well as exchanges on cyber issues.

Asserting that they had detailed and productive discussions on all aspects of the bilateral engagement and multilateral cooperation, Modi at a joint media event with Key said, "I am thankful to Prime Minister Key for New Zealand's constructive approach to the consideration of India's membership of the Nuclear Suppliers Group (NSG)." 

There was no clear word of support on India's entry into 48-nation NSG from the visiting leader, who only said, "New Zealand would continue to contribute constructively to the process currently underway in the NSG to consider India's membership." 

Noting that they had a "detailed" discussion on India's NSG bid, Key also said, "New Zealand is committed to working with NSG members to reach a decision as soon as possible." 

New Zealand acknowledged the "importance to India of it joining the NSG", a joint statement issued after the talks said, adding that India stressed that this would provide the predictability necessary for meeting India's clean energy goals in the context of the Paris agreements.

New Zealand was one of the countries that took the stand at the last NSG plenary in South Korea in June that no exception can be made in the case of India, a non-NPT country, while considering its membership bid of the elite group that regulates trade in nuclear material. At the plenary, despite strong US support, China had blocked India's bid on the ground that it was a not a signatory to the Nuclear Non- Proliferation Treaty (NPT).

On security and counter-terrorism ties, Modi said they have agreed to strengthen security and intelligence cooperation against terrorism and radicalisation, including in the domain of cyber security.

According to the joint statement, the two Prime Ministers agreed to enhance cooperation, bilaterally as well as in the framework of UN and especially in 1267 Committee, to combat the full spectrum of terrorist threats in all their forms and manifestations.

"They called for eliminating terrorist safe havens and infrastructure, disrupting terrorist networks and their financing, and stopping cross-border terrorism. Both sides called for the early adoption of the Comprehensive Convention on International Terrorism that would contribute to the further strengthening of the international counter-terrorism legal framework," it added.

Mistry alleges Rs22 cr fraud transactions in Tatas aviation JV

Mumbai, Oct 26 (PTI) Flagging "ethical concerns" in Tata group's aviation joint venture with Air Asia, ousted Chairman Cyrus Mistry has alleged that forensic investigation revealed fraudulent transactions of Rs 22 crore involving non-existent entities in India and Singapore.


As the bitter war played out between him and interim Chairman Ratan Tata, Mistry also alleged that due to the latter's passion for aviation, Tata Sons board increased capital infusion in the aviation sector at multiple levels of the initial commitment.

In a letter written to the Board members of Tata Sons a day after he was ousted, Mistry said: "Board members and trustees are also aware that in the case of Air Asia, ethical concerns have been raised with respect to certain transactions as well as overall prevailing culture within the organisation.

"A recent forensic investigation revealed fraudulent transactions of Rs 22 crore involving non-existent parties in India and Singapore."

Mistry went on to allege that "executive trustee Mr Venkataraman, who is on the board of Air Asia and also a shareholder in the company, considered these transactions as non-material and did not encourage further study".

It was only at the insistence of the independent directors, one of whom immediately submitted his resignation, that the board decided to belatedly file a first information reports, Mistry said in the letter.

He claimed it was Tata who completed negotiations with Air Asia but early in his tenure as the Chairman of Tata Sons he was asked to table a proposal for the JV with Air Asia at a Tata Sons board meeting.

Claiming that in the case of JV with Air Asia, he was able to extract a "promise of no debt to be raised at the level of JV, as well as limiting Tata Sons investment to 30 per cent of the USD 30 million equity", Mistry said he was taken by surprise with a similar situation when Tatas formed a JV with Singapore Airlines.

"A few months later, I was surprised to be confronted with a similar situation requiring me to execute a fait accompli JV with Singapore Airlines," he said.

Mistry further said in the letter, "without the benefit of time and experience to fully evaluate the proposal, I had to accept that Tata Sons would take a 51 per cent stake in a USD 100 million joint venture".

Pointing fingers at Tata, he said: "The passion for the airlines sector has led Mr Tata to continue his involvement with strategy of the two airlines. It is on his advice that the Tata Sons board has increased the capital infusion in the sector at multiple levels of the initial commitment."

In 2013, Tata Sons had joined hands with Malaysian carrier AirAsia and Arun Bhatia's Telestra Tradeplace to start low cost carrier AirAsia India. The carrier had to wait for nine months before taking off.

In September 2013, Tata group had joined hands with Singapore Airlines to start a new full-service airline in India, 18 years after a failed attempt. Tata Sons owned 51 per cent stake in the carrier, which has been christened as Vistara with Singapore Airlines holding the rest.

Union Home Minister Shri Rajnath Singh and his Bahrain counterpart held productive session

The Union Home Minister, Shri Rajnath Singh visiting the Bahrain National Museum, in Manama on October 25, 2016.

The Union Home Minister Shri Rajnath Singh, who is on a three-day visit to Bahrain, held extensive talks with his Bahrain counterpart, Minister of Interior Lt. General Shaikh Rashid bin Abdullah Al Khalifa in capital Manama yesterday.

The two sides held a productive session, in which the Bahrain Interior Minister welcomed the Union Home Minister and his delegation with an opening speech. Lt. General Shaikh Rashid stated that Bahrain has throughout history been a link between East and West. He also discussed Bahrain's special relationship with India due to the large Indian community in the Kingdom. He added that Bahrain is a tolerant, peaceful and open country.

Lt. General Shaikh Rashid also invited Shri Rajnath Singh to visit temples and community centres that reflect the diversity of Bahraini society. Lt. General Shaikh Rashid said Bahrainis and Indians have lived together for generations and encouraged additional development in the ties between the two governments.

Lt. General Shaikh Rashid hailed the first meeting of the Bahraini-Indian Joint Steering Committee as part of the agreement signed between the two sides on counter-terrorism to reinforce security cooperation, especially regional terrorism issues. He highlighted that Bahrain has experienced terrorist acts that caused loss of life and horrific injuries and damage to infrastructure.

The Bahrain Interior Minister said: “We look forward to working together in the fight against terrorism and in strengthening our mutual and regional security. He said the Joint Steering Committee should look at how we can work together to address challenges and to follow up the progress of the agreed decision through exchange of visits and expertise and working to achieve common goals.”

The Union Home Minister expressed thanks and appreciation to the Bahrain Interior Minister, hailing the historical ties between the two friendly countries that are based on love and peace. Shri Rajnath Singh highlighted during the meeting that Bahrain is a civilised and open society that promotes unity and co-existence. He said mutual visits will develop bilateral ties. He also stated that terrorism is a threat to the whole world and that India is ready to reinforce joint counter-terrorism cooperation with Bahrain.

The two sides agreed that the historical visit of the King of Bahrain to India in February 2014 built a basic foundation toward a strong partnership between the two countries, as well as the creation of opportunities to develop bilateral relations in various sectors.

The two sides also agreed that the exchange of high level visits has contributed to the implementation of important agreements between the two countries. They discussed the visit of the Bahrain Interior Minister to India in December, 2015 that included the signing of the cooperation agreement on international counter-terrorism and trafficking of narcotics, psychotropic substances and chemical precursors.

They agreed on their strong stances against all forms of terrorism, saying terrorism is a hazard to all countries and communities. They rejected the linking of terrorism to any race, religion or culture. They agreed that a terrorist in one country cannot be glorified as freedom fighters by another, and the two sides called upon all states to reject the use of terrorism against other countries, to refrain from interfering in the internal affairs of the state, and to fight terrorist infrastructure whenever it exists.

The two sides also agreed to actively implement the counterterrorism agreement for which a joint committee was formed that held its first meeting in the sideline of the visit. They decided to hold regular committee meetings, in accordance to the clauses of the agreement.

The two sides agreed to reinforce cooperation in exchange of information on ongoing terrorism-related investigations, exchange of information of ongoing organised crime investigations, including terrorism and drug trafficking, determine and exchange information on terrorism financing and organised crime sources and confiscation of terrorism money in accordance to the laws of both countries, study youth extremism and the use of the internet and how to tackle the issue, further cooperation in e-security and fight money laundering.

They also agreed to promote participation in training courses and seminars that are held by the two countries for security officials to exchange expertise on crime fighting and other unconventional threats. They welcomed cooperation in anti-human trafficking and the fight against emerging security threats of the two countries. The two sides agreed to continue high level communication to reinforce security cooperation.

Will not re-visit 1995 judgement on 'Hindutva': SC

New Delhi, Oct 25 (PTI) The Supreme Court today ruled out re-visiting the famous 'Hindutva' verdict holding Hinduism as a "way of life' making it clear that it would not go into the "larger debate" as the issue did not find mention in the reference made by a five-judge bench.

"We will not go into the larger debate as to what is 'Hindutva' or what is its meaning. We will not re-consider the 1995 judgement and also not examine 'Hindutva' or religion at this stage," a seven-judge constitution bench headed by Chief Justice T S Thakur said.

The court, to which the issue has been referred by a five-judge bench, is examining the "scope and width" of section 123(3) of the Representation of the People (RP) Act which deals with electoral malpractices amounting to "corrupt practices", among other things.

"The appeal by a candidate or his agent or by any other person with the consent of a candidate or his election agent to vote or refrain from voting for any person on the ground of his religion, race, caste, community or language or the use of, or appeal to religious symbols or the use of, or appeal to, national symbols..., for furtherance of the prospects of the election of that candidate or for prejudicially affecting the election of any candidate" would amount to corrupt practices, the provision says.

Dealing with the reference, the bench said, "At this stage, we will confine ourselves to the issue raised before us in the reference. In the reference, there is no mention of the word 'Hindutva'".

"If anybody will show that there is a reference to the word 'Hindutva', we will hear him. We will not go into 'Hindutva' at this stage," the bench, also comprising Justices M B Lokur, S A Bobde, A K Goel, U U Lalit, D Y Chandrachud and L Nageshwar Rao, said.

The remarks were made by the bench after senior advocate K K Venugopal, appearing for one O P Gupta who is seeking to intervene in the ongoing proceedings, said that he should also be heard if the bench is going into the question of Hindutva and seeking of votes on the basis of religion.

Social activist Teesta Setalvad had earlier sought to intervene in the matter with an application stating that religion and politics should not be mixed and a direction be passed to de-link religion from politics.

Haji Ali Dargah to grant access to women: SC told

New Delhi, Oct 24 (PTI) Women will be granted access to the sanctum sanctorum of the Haji Ali shrine in Mumbai on par with men, the Dargah Trust told the Supreme Court today and sought four weeks to make the requisite infrastructural changes.

A bench comprising Chief Justice T S Thakur and Justices D Y Chandrachud and L Nageswara Rao granted time to the trust and disposed off its appeal against the Bombay High Court order asking it to give equal access to women also.

Senior advocate Gopal Subramanium, appearing for the trust, said an additional affidavit has been filed on behalf of the Dargah trust saying it is willing to allow women inside the shrine.

The apex court, on October 17, had extended the stay granted by Bombay High Court to facilitate an appeal against its decision to lift the ban on entry of women near the sanctum sanctorum of the Dargah in Mumbai.

Earlier, the Supreme Court had expressed hope that the Trust, which had challenged the high court judgement, "will take a stand which is progressive".

Subramanium, had also assured the bench that he was on a "progressive mission" and said all holy books and scriptures promoted equality and nothing which is regressive in character should be suggested.

The bench had also remarked that "if you are not allowing both men and women to go beyond a point, there is no problem.

But if you are allowing some to go beyond a point while others are not, it is a problem." 

The counsel, appearing for a women's group which has challenged the practice of the Trust not to allow women near the sanctum sanctorum, had submitted that the position was different before 2011 than what it is today.