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Pak national apprehended by BSF in J-K’s Samba

Samba (Jammu and Kashmir) [India], July 8 (ANI): A Pakistan national was apprehended by the Border Security Force (BSF) at International Border (IB) in Samba sector in Jammu and Kashmir on Wednesday morning.
According to the BSF, the Pakistan national identified as Mohammad Iqbal was handed over to the Pakistan Rangers in the evening after investigation.
Nothing suspicious was found from his possession, according to the force. (ANI)

Disclaimer: The views expressed in the article above are those of the authors’ and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.

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Telangana: Relatives attack woman over land dispute in Wanaparthy district

Wanaparthy (Telangana) [India], July 8 (ANI): A woman was allegedly attacked by her relatives in a fit of rage over a land dispute on Wednesday in Telangana’s Wanaparthy district.
Apoorva Rao, Superintendent of Police, Wanaparthy said, “On Wednesday morning, an incident was reported in Buddaram village of Wanaparthy district in the limits of Gopalpet police station, where a woman name Rathanamma was brutally attacked in broad daylight by her relatives named Arjunnaya, Narender, Sessamma and Prashanth after a heated discussion among them.”
“Since the last few months, some land disputes between the accused and victim families were going on. The injured woman has been shifted to a government hospital for treatment,” Rao said.
A case has been registered against the accused persons under section 307 of IPC.
Further probe is underway. (ANI)

Disclaimer: The views expressed in the article above are those of the authors’ and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.

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PM Modi to interact with representatives of organisations who provided ration kits to people during lockdown in Varanasi

New Delhi [India], July 8 (ANI): Prime Minister Narendra Modi on Thursday will interact with representatives of Varanasi-based social organisations who provided ration kits and food packets to people during the coronavirus-induced lockdown.
According to the release of the Prime Minister’s Office (PMO), he will interact with organisations representatives via video conferencing to discuss their experience.
During the nationwide lockdown, the residents of Varanasi and members of social organisations, through their own efforts as well as by providing assistance to the district administration, ensured that food was timely available for everyone in need, a PMO statement said.
“Over 100 organisations in Varanasi distributed almost 20 lakh food packets and 2 lakh dry ration kits via food cell of District Administration through individual efforts,” said a release.
Apart from food distribution, these organizations were instrumental in the distribution of masks, sanitizers and they have been honoured as ‘corona warriors’ by the District Administration.
These organizations serve in diverse fields including education, social, religious, health, hotels/social clubs and other professional sectors. (ANI)

Disclaimer: The views expressed in the article above are those of the authors’ and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.

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JetSynthesys raises Rs 300 crore from existing shareholders

Digital entertainment and technology company JetSynthesys has raised Rs 300 crore from existing shareholders to strengthen its gaming and digital entertainment offerings and interest-based social community platforms.

The capital infusion, announced on Wednesday, comes from Kris Gopalakrishnan, the family office of Adar Poonawalla, and the Navani family-owned Jetline Group. Other shareholders of JetSynthesys include the family offices of Thermax, Triveni Group and DSP Group.

“We will be investing in our platforms and strengthen our content and technology. We will also be pursuing global partnerships in Japan, US and UK,” said Rajan Navani, managing director of JetSynthesys.

The company operates primarily in the online gaming segment, and also has a digital wellness platform. The decision to invest in these platforms is bolstered by the surge in consumption over the last few months.

Navani said the aim is for each platform to generate Rs 100 crore in revenue over the next 24-36 months. The company’s e-sports joint venture, Nodwin Gaming, has grown to about Rs 100 crore over the last four years, and the company intends to replicate this with other platforms too.

The company will also be investing in developing its captive social destination arm, which includes 100MB, a joint venture with cricketer Sachin Tendulkar. It also intends to hire globally, expanding its workforce of 500 people by about 50% over the next two years.

“We have several initiatives in gaming, content, digital commerce, mindfulness and fintech which are seeing increased traction during Covid times. Our international business with global partners is also seeing increased traction. This funding will allow us to invest more in sales and marketing as well as scale up operations,” said Kris Gopalakrishnan, non-executive chairman of JetSynthesys.

JetSynthesys has over 100 million consumers in 180 countries across various platforms. A part of the fund infusion will be used to expand the company’s consumer base over the next 36 months.

As part of its growth strategy, the company also announced a new gaming partnership with WWE for ‘WWE Racing Showdown’, a vehicular combat game. India is the second largest consumer market for WWE after the US.

Digital products and services are seeing a spike in demand amid the viral pandemic, as fewer people move out of their homes for social activities and entertainment.

“In light of recent global developments, digital products and services are the need of the hour, since they help everyone feel connected, while also contributing towards social distancing. Gaming, social communities, and digital entertainment have thus become basic essentials in this new normal…,” said Adar Poonawalla, chief executive of Serum Institute of India.

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E-tailers in India begin work to list ‘country of origin’ labels on products

By Sankalp Phartiyal

NEW DELHI – E-commerce companies in India like‘s local unit and Walmart‘s Flipkart have begun to update their back-end systems to allow sellers to identify the country of origin on all new product listings on their platforms, two sources aware of the matter said on Wednesday.

The Indian trade ministry’s Department for Promotion of Industry and Internal Trade (DPIIT), which hosted an online meeting of e-commerce players on Wednesday, wanted the changes to be implemented by the end of July.

The companies, however, said they would need two to three months, according to the sources, who asked not to be named as the discussions were private.

The changes would first be made for new product listings as it was difficult to do this for the tens of millions of products already selling on their platforms, they added.

Amazon, Flipkart and DPIIT did not respond to requests for comment.

The government push to have e-commerce companies name the country of origin beside product listings comes against the backdrop of tensions between India and China following a border skirmish in June that left 20 Indian soldiers dead.

Trader groups have since called for a boycott of Chinese-made products and echoed Prime Minister Narendra Modi’s call for a self-reliant nation. New Delhi has banned 59 Chinese origin apps, and Chinese goods in ports have also faced extra scrutiny and delays.

“In the current context, there is an anti-China sentiment so if there is labelling, it could potentially influence purchases,” said Devangshu Dutta, head of retail consultancy firm Third Eyesight.

E-tailers have previously asked the government to clarify the definition of “country of origin”, which they say remains vague with some products assembled in countries including India but with their components or raw materials sourced from another nation.

On Wednesday, the government said it would discuss the matter internally, according to the sources.

(Reporting by Sankalp Phartiyal; editing by Emelia Sithole-Matarise)

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New MSME framework may pose infrastructure problems

MUMBAI: The proposed special resolution framework for about five-six lakh micro, small and medium enterprises (MSMEs) companies could well pose an infrastructure problem amid overburdened National Company Law Tribunals which are already bursting at the seams.

Unless the government comes up with an exclusive infrastructure to deal with these cases, even those bigger ones could get delayed making resolutions and recoveries impossible for banks.

“It will be an uphill task for existing infrastructure to deal with the flood of cases, expected due to MSME framework,” said Ashish Pyasi, Associate Partner at law firm Dhir & Dhir Associates. The proposed framework for MSME should be designed in such a way so that the involvement of NCLT’s or adjudicating authority is minimal.”

NCLTs have been functioning amid a flood of cases and limited logistics. Lack of member judges, delay in their appointments are among those. There are only a dozen NCLT courts, many of them are hugely understaffed. Out of all those, Mumbai and the Principal bench in Delhi face the majority of the cases.

Although an increase in the number of benches coupled with a few additional appointments of judges improved the scene, it is still not sufficient.

As per latest Insolvency & Bankruptcy Board of India (IBBI) data, about 3,774 cases were reported under the Corporate Insolvency Resolution Process (CIRP) from the time of inception and out of those cases 2,170 cases are still pending in various NCLTs. The tribunals also have to dispose of matters related to schemes and operation and mismanagements.

“The need of the hour for the MSME sector is that the stakeholders will need to address this issue as one of the most crucial aspects of the entire Insolvency regime,” said Priyanka Sinha, partner at law firm A&P Partner. The measures should allow MSMEs to keep their business afloat.”

MSMEs employ over 11 crore workers contributing about 29 percent of India’s GDP.

The draft Special insolvency resolution framework bill for MSMEs is likely to be tabled in this parliament session. It recommends a 90-day timeline instead of the existing 330 days – for completion of the process. It permits promoters of a defaulting MSME to submit resolution plans.

“It is imperative that the regulatory measures are supported by the necessary infrastructure and an effective system for implementation of these measures,” said Zerick Dastur, founder of the law firm Zerick Dastur Advocates & Solicitors. This is required in order to ensure timely and effective dispensation of justice.”

In the past few months, the government has announced several measures, aimed at protecting the interest of industries battling the pandemic. Those include suspension of fresh initiation of insolvency proceedings under the IBC for a period of six months.

The framework applies on MSMEs with up to Rs 250 crore yearly turnover and Rs 50 crore investment in plant and machinery.

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Cipla set to undercut rivals with low-priced generic remdesivir: Report

Indian drugmaker Ltd has priced its generic version of Remdesivir, Cipremi, at 4,000 rupees ($53.34) per 100 mg vial, according to several sources, making it among the lowest priced versions of the treatment available so far globally.

had earlier said pricing would not exceed 5,000 rupees. On Tuesday, Sovereign Pharma, which is manufacturing and packaging the drug for Cipla, said it had dispatched the first batch.

India business chief executive officer and executive vice president Nikhil Chopra said in an emailed statement that the company was launching Cipremi commercially on Wednesday and aims to supply over 80,000 vials within the first month, but did not give details on pricing or dosage.

The drug will be available through the government and hospitals only, the company said.

Sources said the first batch of 10,000 vials had been printed with a price of 4,000 rupees, 800 rupees below the cheapest option, launched by European competitor Mylan this week.

Privately held Hetero Labs Ltd’s version, Covifor, costs 5,400 rupees per vial while Mylan prices Desrem at 4,800 rupees.

CNBC TV-18 said earlier on Wednesday that Cipla was set to launch its drug in the next couple of days, priced at 4,000 rupees.

With cases growing, several more of the big India-based healthcare firms which make much of the world’s are expected to launch competing versions of Remdesivir, the only major treatment so far approved for

Remdesivir’s developer, Gilead Sciences Inc , has priced the original version at $390 per 100 mg vial for wealthier nations while signing licensing deals with generic producers to make the treatment widely available.

India is now the third worst hit nation in the pandemic with 700,000 cases, behind the United States and Brazil.

An employee at Cipla, who declined to be named because he is not authorized to speak to the media, said the company would send Cipremi to stockists starting Thursday.

It was not immediately clear how many of Cipla’s vials would be required for a full treatment course. Gilead has said a patient would typically need six vials of Remdesivir for a five-day course.

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Govt proposes two dates for e-commerce cos on displaying country of origin

The government has asked e-commerce to ensure that the ‘country of origin’ of all products is clearly listed on their platform so that the consumer can make informed decisions. In a follow-up meeting with the Department for Promotion of Industry and Internal Trade (DPIIT) on Wednesday, the government gave the recommendation to online retailers that for new products listed on e-commerce platforms, the country of origin should be displayed next to the products from August 1, 2020. It also suggested the firms to display the country of origin for existing products from October 1, 2020. The development comes amid a growing clamour for the boycott of Chinese products in India, combined with the government’s push for Aatmanirbhar Bharat.

According to people aware of the proceedings, the virtual meeting was attended by many companies, including Amazon, Flipkart, Snapdeal, Lenskart and JioMart. However, some firms told the government to provide them at least 3-5 months to be able to keep the technology platform ready to enable the display of country of origin for new and old listings.

“The e-commerce said that they are working towards it but they would not be able to meet this deadline,” said an e-commerce industry executive. “There is not enough regulatory clarity on the whole issue.”

E-commerce executives said that platforms such as Amazon and Flipkart have in excess of at least 300 million existing products listed online. They said, expecting small, medium and large sellers to complete the onerous task of marking country of origin for products will negatively impact them to come online. The compliance burden is on the sellers and small businesses especially during Covid-19 time as they are facing challenges to survive. Also, there are other issues including unbranded products being sold in the country.

“For example, a chair or a bucket being sold may not have a tag about where it was made. If you can buy it in the local market without the country of origin mentioned on it, why can’t you buy it online,” said an e-commerce industry official.

Wednesday’s meeting is part of the follow-up interaction that took place after the Government e-Marketplace (GeM) platform, which operates under the Ministry of Commerce and Industry, recently made it mandatory for its listed sellers to specify the country of origin while registering new products on the portal.

The border stand-off with China has sparked a campaign to boycott Chinese products. The move to have GeM sellers specify the country of origin was seen by some as a way to lead by example and force large to comply.

The Confederation of All India Traders ( CAIT) on Wednesday welcomed the stand taken by DPIIT, Ministry of Commerce whereby they have proposed to the e-commerce to display the “country of origin” for new product listings on their platforms by August 1 in compliance with the Legal Metrology ( packaged commodities) Rules, 2017.

CAIT Secretary General Praveen Khandelwal said these e-commerce companies are totally automated and technology-driven and every seller on the platform is well aware of the country of origin of their products.

“If they really want to comply with the rules, it is a matter of 2-3 days and not 2-3 months which these companies are demanding,” said Khandelwal. “Under no circumstances should the August 1 deadline be extended and even existing product listings should comply with the said deadline.” The CAIT has sought time with Union Commerce Minister Piyush Goyal to discuss the matter at the earliest.

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Co-living players eye corporate sector with hybrid accommodation models

With becoming the new normal after the outbreak, co-living are coming up with hybrid models eyeing corporate clients. Under this, they are looking at offering along with co-living, by providing inmates with working space along with facilities like conference rooms, desks for work and dependable high speed internet.

Bengaluru-based co-living player Guesture, for example, is looking at rolling out work-from-home development centres where corporate employees can work and live. The project, which will be launched by end of July, will have dedicated floors for each company.

“Corporates need a solution from a business continuity perspective as there are several employees who are not traceable from remote locations all time because of poor internet connectivity and power. Several employers are also afraid to open offices fearing lawsuits if their employees contact the disease,” says Sriram Chitturi, founder of Guesture.

The company is in talks with players in the IT, FMCG and start-ups to provide them with such tailor-made spaces.

ALSO READ: Co-living start-up Zolostays raises $56 mn in latest funding round

Rather than having a distributed workforce delivering from home, it will be advantageous to have WFH development centres. This will ensure data security, confidentiality, better control over delivery due to 24/7 power and dependable high speed internet, he explains.

With several areas in containment, a lot of employees are also not able to travel to offices from these red zones. Nexus Venture Partners-backed Zolostays is also coming up with custom-made properties for corporates which can host their employees for uninterrupted business.

The company has identified 15 of its properties in Bengaluru, Chennai and Noida to turn them into dedicated co-living spaces, where employees can stay and work. This facility would be availed by 12 in sectors such as BFSI and IT. These buildings will have a conference room, a common area with work desks and office level wifi structure for those staying in these properties.

“We will also be offering infrastructure to build security of networks, especially for clients in IT services,” said Nikhil Sikri, co-founder and CEO of Zolostays. Charges per room would be anywhere between Rs 12,000-22,000 a month, he added.

Zolostays is also rolling out an uber-premium brand extension called Zolo Red Carpet by next month, for those who want a complete lifestyle oriented living.

ALSO READ: These co-living startups are helping tenants sail through Covid-19

These properties will be first launched in Bengaluru and Chennai, and the company is eyeing 20 per cent of revenue from this portfolio in the next two years. Costing Rs 15,000-Rs 35,000 (per person per month), they will have facilities such as fitness trainers, wellness studios, all-day in-house cafes, workspaces, and concierge services.

As cases surge across the country, a NoBroker survey has revealed that 70 per cent of the tenants, who were earlier living in PGs, are now looking to move to shared houses and co-living spaces. One of the prime reason behind this, the survey said, the most of these tenants do not find their current accommodation feasible for WFH.

According to Oyo Life, the co-living arm of Oyo, many corporates are willing to sponsor stays for their employees so that they can live closer to the office under a safe and hygienic setup. “We expect this trend to continue,” said a company spokesperson.

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There’s fear that online education might create ‘digital divide’: Sisodia

New Delhi [India], July 2 (ANI): Delhi Deputy Chief Minister Manish Sisodia on Thursday said that there is a “fear that online education might create a digital divide,” and added that the Delhi government will implement a model of education in which “reach out and connect” will be the focus.
With an emphasis on “learning with human feel,” Sisodia said that the Delhi government has made a model of education.
“Digital technology to complement the efforts of teachers in reaching out to every child and assist them in learning. We are following the principle that a ‘Digital Divide’ should not come in the way of children’s access to learning opportunities,” Sisodia said.
The core of the approach is outreach and connect between teachers and students, he noted.
Sisodia said that teachers will reach out to students through WhatsApp or regular phone calls. They will give them assignments and take regular feedback.
He shared that students from KG to Class 10 will receive daily exercise and feedback from class teachers through WhatsApp, while teachers will connect through a regular phone with those who do not have WhatsApp or smartphone.
On the other hand, students of Classes 11 and 12 will attend live online classes to be conducted by Delhi governments teachers.
For the same, follow up will be done by the teachers through phone call or WhatsApp to clear their doubts.
Sisodia said that the Delhi government will ensure that students do not lose out on academics due to COVID-19. (ANI)

Disclaimer: The views expressed in the article above are those of the authors’ and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.

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