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Feb 26, 2018 08:49 AM IST | Source: Moneycontrol.com
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highlights
CBI files Rs 1bn fraud case against Simbhaoli Sugar executives
Liberty House appeal to NCLT to be heard today
PNB fraud: ED to seek info from over dozen countries on Nirav Modi, Choksi's assets
Dr Reddy's Labs gets EIR from USFDA for Srikakulam plant
Huawei unveils world's first 5G commercial modem
Samsung launches Galaxy S9 & S9+
Sridevi's autopsy complete, body to be flown back today
CBI files Rs 1bn fraud case against Simbhaoli Sugar executives
The Central Bureau of Investigation (CBI) said on Sunday it had filed a fraud case against executives of Simbhaoli Sugar for causing alleged losses of Rs 1.09 billion to state-run Oriental Bank of Commerce, reports Reuters. The bank alleged that the sugar refiner “dishonestly and fraudulently diverted” a Rs 1.48-billion-loan sanctioned in 2011 for financing cane farmers for private use, a statement issued by CBI said.
The case comes at a time when the Indian banking sector is getting to grips with its biggest banking fraud totalling $1.8 billion, in which the No 2 state-run lender PNB has alleged that two of its employees colluded with firms linked to well-known jewellers Nirav Modi and his uncle Mehul Choksi.
This is the second case in three days registered by the CBI upon complaints from the Oriental Bank of Commerce. The police has registered a case against several top officials of Simbhaoli Sugar, including its chairman and managing director, chief executive and chief financial officer, some unknown bank officials, and other private persons.
Liberty House appeal to NCLT to be heard today
The fate of Liberty House's bid for Bhushan Power and Steel may be decided on Monday morning, when its appeal to the National Company Law Tribunal will be heard, reports Moneycontrol News’ Prince Mathews Thomas. The UK-based company had moved the NCLT after its bid for Bhushan Power and Steel was rejected by Committee of Creditors last week.
The Committee, consisting of lenders, had refused to consider the bid as it was submitted after the deadline had passed on February 8. The appeal by Liberty House is an unprecedented one. In none of the auctions till now has a bid been accepted after the deadline. If the company's bid is accepted by the NCLT, it will open up a much contentious issue. Sources say that JSW Steel and Tata Steel may consider contesting it.
PNB fraud: ED to seek info from over dozen countries on Nirav Modi, Choksi's assets
Widening its probe into the PNB fraud case, the Enforcement Directorate will soon send judicial requests to over a dozen countries for obtaining information about the overseas businesses and assets of diamantaire Nirav Modi and owner of Gitanjali Gems Mehul Choksi, reports PTI.
Official sources said the agency will approach a competent court in Mumbai with a request to obtain Letters Rogatories (LRs) to be sent to about 15-17 countries where the central investigation agency has traced the footsteps of the diamond and gold jewellery businesses of the firms owned by Modi, his uncle Choksi and others associated with them.
The countries where the LRs would be sent include Belgium, Hong Kong, Switzerland, the United States, the United Kingdom, Dubai, Singapore and South Africa. Some official requests on the basis of agency-to-agency exchange will also be sent to few countries, the sources said.
Sand artist Sudarsan Pattnaik pays tribute to actor Sridevi through his sand sculpture at Puri beach. PTI
Bollywood actor Arjun Kapoor arrives at the residence of Anil Kapoor following the death of the actress Sridevi Kapoor. PTI
Bollywood actress Rekha arrives at the residence of Anil Kapoor, following the death of the actress Sridevi Kapoor, in Mumbai. PTI
Bollywood film director Karan Johar arrives at the residence of Anil Kapoor to mourn the death of actress Sridevi Kapoor in Mumbai. PTI
Dr Reddy's Labs gets EIR from USFDA for Srikakulam plant
Pharma major Dr Reddy's Laboratories said it has received the establishment inspection report (EIR) from the US Food and Drug Administration for its formulations facility in Srikakulam, Andhra Pradesh. The company, without mentioning the contents of the EIR, said the USFDA has maintained OAI (Official Action Indicated) status at its API manufacturing plant in Srikakulam.
The US drug regulator has asked the company for more details, it said. "FDA has asked us for more details. We are providing those details and continuing to engage with FDA for resolution of pending issues," Dr Reddy's said in a regulatory filing. An OAI status is equivalent to finding of objectionable conditions at the audit site and also an indicative of regulatory and/or administrative sanctions by FDA.
The USFDA issues an EIR to an establishment that is the subject of an FDA or FDA-contracted inspection when the agency decides to close the inspection. In April 2017, the company had informed about completion of the audit at its API manufacturing plant in Andhra Pradesh and issuance of two observations by the US drug regulator. Dr Reddy's had said that it was addressing those issues.
Huawei unveils world's first 5G commercial modem
Chinese telecom gear firm Huawei on Sunday unveiled the world's first commercial 5G modem with a claim that it can deliver peak speed of over 2,000 megabit per second on next generation network, reports PTI. In India Reliance Jio has been delivering wireless broadband with peak average download speed of around 21 mbps and fixed broadband service provider Spectra claims to be delivering speed of up to 1GBPS (or 1024 mbps).
The company unveiled world's first 5G CPE (consumer premise equipment or router) with the promise of delivering broadband speed of up to 2 Gbps on 5G network. The CPE will also support 4G network. Besides the chipset, Huawei unveiled full touch-screen enabled notebook Huawei matebook X Pro with 13.9 inch display, pop-up camera on the keyboard with price range starting EUR1,399. The company unveiled three 4G tablet models in Mediapad M5 series with dual use as tablet and notebook at starting price of EUR349.
Samsung launches Galaxy S9 & S9+
South Korean tech major Samsung unveiled Galaxy S9 and S9+, its latest flagship model in the smartphone segment, a day before the Mobile World Congress 2018 in Barcelona, reports PTI. The phones have features like dual aperture and slow motion video options that compete with iPhone X and Google Pixel 2 series. It also have features like dual-stereo speakers and Dolby Atmos surround sound capabilities.
The S9 comes with 4 GB RAM and with internal memory options of 64 GB, 128 GB and 256 GB along with an external memory slot, which can support a capacity of up to 400 Gb. While the Galaxy S9+ comes with 6GB RAM and would also have memory options of 64 GB, 128 GB and 256 GB along with an external memory slot of 400 GB.
The company has incorporated several advanced features such as built in live automatic translator in its camera app, which could translate over 50 languages. Samsung has incorporated several Indian languages in the camera app which includes Hindi, Urdu, Bengali, Telugu, Tamil, Punjabi and Marathi.
Both the phones would be operated through Android 8 Orio and would give options to users to create their own emojis with their faces while chatting. The S9, which has put 3,000 mAh battery for its 5.8 inch screen and S9+ would have 3,500 mAh battery for 6.2 Inch screen. Both the phones would have a front camera which is 8 mega pixels and the rear would have a 12 mega pixels camera. The phones will also have features like rear figure scanning and wireless charging system.
Sridevi's autopsy complete, body to be flown back today
The autopsy of superstar Sridevi, who passed away here after a cardiac arrest, has been completed and her body would be flown back to India today, reports PTI. The actor, wife of producer Boney Kapoor, died late in the night reportedly due to cardiac arrest in Dubai, where she had gone along with her family to attend her nephew Mohit Marwah's wedding.
UAE officials have revealed that Sridevi's autopsy has been completed and the family is now awaiting laboratory reports conducted by the General Department of Forensic Evidence, Dubai, Khaleej Times reported. The body of legendary Indian actress Sridevi, who died in Dubai on Saturday night, is likely to be flown home on Monday, Gulf News reported.
Sridevi’s body could not be repatriated on Sunday as the final investigation reports from Dubai Police were not ready by late evening, officials dealing with the legal formalities were quoted by the report. Officials also said that as per usual protocols, these tests take up to 24 hours in the case a person has died outside a hospital in Dubai. The same safety and administrative protocols are being followed by the police in this case as well.
She reportedly had a fainting spell in her bathroom and was immediately rushed to Rashid Hospital in Dubai, the report said. The hotel, however, refused to comment on the matter and an employee stated that the matter is under police investigation.