New Delhi, Oct 27: Hindustan Media Ventures Ltd (HMVL) on Tuesday said its board has approved investing up to Rs 6 crore in digital platform for college admissions ReviewAdda to pick 10.71 per cent stake.
Under the proposed investment, basis the existing capital structure of ReviewAdda, the company will acquire either equity shares or convertible equity linked instruments which can be converted into equity shares equivalent to 10.71 per cent equity stake in ReviewAdda, HMVL said in a regulatory filing.
“The board of directors of Hindustan Media Ventures… Approved the proposal to invest up to Rs 6 crore in equity shares and/or convertible equity linked instruments of ReviewAdda,” it stated.
ReviewAdda owns and operates www.Reviewadda.Com which help admission seekers in selecting and applying to various colleges and universities.
HMVL on Monday reported a 77.8 per cent decline in its consolidated net profit to Rs 4.41 crore for the second quarter ended September.
The company had posted a net profit of Rs 19.86 crore in the July-September quarter a year ago, it said.
Its revenue from operations was down 31.92 per cent to Rs 131.21 crore during the period under review, against Rs 192.74 crore in the corresponding period of the previous financial year, the company said. (PTI)
HMVL to pick around 11 pc stake in ReviewAdda
Eradicating Corruption: Beyond Cosmetic Measures
Kamal Sangra
Behind every great fortune lies a great crime– Honoré de Balzac
Vigilance Awareness Week is being observed by the Central Vigilance Commission since 2000 with a view to promote probity in public life and achieving a corruption free society. The week beginning October 27 shall see numerous activities revolving around this year’s theme: ‘Satark Bharat, Samriddh Bharat’ (Vigilant India, Prosperous India). The Central Vigilance Commission is of the considered view that corruption is a serious unethical practice that undermines trust and confidence in public officials and that public confidence can only be gained by promoting integrity in governance. Looking back, ‘Eradicate Corruption – Build a New India’ and ‘Integrity – A way of Life’ has been the theme of the Awareness Weeks in the year 2018 and 2019 respectively. Evidently, twenty years on, corruption continues to remain at the centre stage in Vigilance Awareness Week year after year.
Vigilance Awareness Week
This year the week coincides with some significant happenings globally and back home wherein the issues pertaining to corruption are being debated robustly. It has come at a time when abrogation of Article 370 and the newly formed Union Territories of Jammu & Kashmir and Ladakh completes one year of their formation. Union Home Minister Amit Shah may be recalled having said that special status of the erstwhile state of J&K was the root cause of corruption. Globally, US elections are less than a fortnight away in which US President Donald Trump in his speeches has been attacking his Democratic challenger Joe Biden saying he is a ‘disaster’ and a ‘corrupt’ politician while Biden is charging Trump with the same.
Despite the fact that vigilance awareness week is being celebrated every year, corruption in different areas of administration has not shown any relent. J&K continue to rally amongst the top corrupt states and UTs in India and this ranking has not shown any downward trend though different political parties remained on the scene all this while. The reason is simple. The crusade against corruption continues to target and focus on the middle and lower rung tainted Government officials but the political-bureaucratic-business elite remain untouched.
Let’s take a stock of the efforts made by successive Chief Ministers in tackling the menace of corruption in J&K. Mufti Mohd Sayeed started the process of dismissing middle and lower ranks tainted government officials. Gulam Nabi Azad in 2007 called for a social sanction against people responsible for inducement of corruption and underlined the need for a legislation to deal with such elements. Omar Abdullah in January 2009 began by paying a surprise visit to police station Gandhi Nagar Jammu and suspended the Munshi for not updating the Roznamcha. Mehbooba Mufti dismissed 63 middle and lower ranks Government officials after being booked by anti-graft bodies in different cases. Former Governor N. N .Vohra in 2008 had expressed his concerns over the menace of corruption and had called for restoring the trust of the people in the administration by making it more transparent and corruption free. Ten years later, his successor Satya Pal Malik during his brief stint as Governor J&K showed his serious concern at every platform and admitted, “those in power, be it political, administrative or business live like Mughal emperor Jahangir and the poor mule owner of Kashmir even doesn’t have a sweater to wear.” He even called corruption as one of the main causes of terrorism.
One can infer that successive Heads of J&K though honestly felt concerned about the issue of corruption but, unfortunately, erred in their understanding of the Government’s role in eliminating the same. Almost everyone agrees that corruption is rampant but ignores to fix the fundamental responsibility of the same on the Government. Their rhetorical statements doesn’t soothe the sufferings of the commoners visiting patwarkhana, police stations, municipal offices, courts and other Government offices for their day to day needs where they encounter corrupt officials one way or the other.
The incumbent Lieutenant Governor, Manoj Sinha too has observed that corruption free and transparent, accountable, people-centric governance is the priority of the present dispensation. There is no monosyllabic answer how he would ensure transparency and accountability in his desired people-centric governance but there is a thumb rule ‘corruption never takes place in isolation and it flows from top to bottom’ which he must keep in mind while formulating the policies and assessing the performance of the departments.
While considering the way forward, first and foremost, there must be a ‘Will’ to deliver and the crusade against corruption has to be ruthless irrespective of rank and the status of a person. With those having accumulated disproportionate wealth or misused their official positions in the past must be punished as there is no deterrence if past corrupts goes scot-free. We must bear in mind that a corrupt produces more corrupt and unpunished corrupt undermines public trust as well. The drastic reforms and legislations to fight corruption must be made as there has not been a single case of a politician, bureaucrat, businessman or a man in uniform who has been transparently investigated, effectively charge sheeted and fairly prosecuted in J&K.
It’s also important to bear in mind that corruption thrives in a legal flux; any lapse in investigation always go in favour of the corrupt. Almost all the 63 officials declared deadwood and prematurely retired by the Government few years back joined back after their termination orders were struck down by the courts on various grounds. Many tainted officials facing serious charges of corruption have even been elevated and given prime postings by successive Governments ignoring the honest and dedicated public servants.
Investigating agencies must bear in mind that big fishes always float in the influential and privileged deep water of power where politicians and bureaucrats have absolute discretion in the ‘decision’ making process in which middle and lower rung officials have no say at all. Making lower or middle rung officials as accused may give some media glare but the menace of corruption through the political-bureaucratic-business elite will continue to thrive. Had the previous dispensations gone beyond the cosmetic measures of handling corruption, we wouldn’t have had to ride on the bumpy roads, we wouldn’t have seen the bridges collapsing, we wouldn’t have seen elitists running to private hospitals for Covid-19 treatment, we wouldn’t have seen riches turning to fake NPAs for enjoying the loan settlements. There is still a hope but only if we succeed in going beyond the ritualism.
feedbackexcelsior@gmail.com
Sharing best practices, knowledge among SCO members to help startups: Goyal
NEW DELHI, Oct 27: Sharing best practices, knowledge and engaging investors from the Shanghai Cooperation Organisation member nations will help strengthen startup ecosystem, Commerce and Industry Minister Piyush Goyal said on Tuesday.
Launching the India-SCO Startup Forum, he said creativity, innovation and disruption will be the new mandate in the emerging future.
The minister said the new unique concepts that startups come up with will get a much larger engagement through this forum.
“Sharing our best practices, knowledge, engaging corporates and investors from all the member nations, monetising and mobilising capital, setting up incubators, providing exposure and scale with market access will certainly help the worthy ideas of our startups’ innovations,” Goyal said.
SCO (Shanghai Cooperation Organisation) members are China, India, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan and Uzbekistan.
He added that this forum is an opportunity for all the member nations to share and learn from their experiences.
Speaking at the event, Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Guruprasad Mohapatra said that since the launch of the startup India initiative in 2016, over 35,500 startups are recognised by the government, and they are in 590 districts of 28 states and 8 UTs.
He said the forum will lay the foundation for multinational cooperations and engagement among the member states to develop and strengthen their startup ecosystem collectively.
The forum would help in empowering the local startup ecosystem, and enable access to investors and corporates in startups.
The forum was jointly launched by industry body CII and DPIIT. (PTI)
Resumption of mining in Goa to give much needed fillip to state economy: GCCI
New Delhi, Oct 27: The Goa Chamber of Commerce and Industry (GCCI) on Tuesday made a case for the resumption of mining in the state, saying it will give much needed fillip to the state’s economy in form royalty and taxes and also prove to be a viable source of livelihood for the people in these trying times.
The prolonged economic slowdown followed by the COVID-19 pandemic has adversely affected almost all the sectors of the state economy, it said. Mining is at a standstill and tourism, which was the highest revenue generating sector for the state, has all but dried up and inflows of visitors are at a standstill, the GCCI said in a statement.
This has caused huge discomfort and financial distress to the state and its people, the industry body said adding that it is estimated by various agencies that the state’s tourism industry — which is the second largest revenue earner in Goa — has lost about Rs 1,000 crore worth of business because of the lockdown.
On October 14, the Goa government approved the state’s tourism policy after a long wait of six years and when the sector is in most distress. The policy document envisages tourism for the next 25 years with a vision to make the state the most preferred destination around the year for high spending tourists by 2024.
The government has made a provision for setting up new tourism board, which will be the backbone for all decisions pertaining to planning, development and marketing of tourism in Goa.
Now, the government is solely depending on tourism to increase its dwindling revenues. The state, which collected Rs 15,000 crore in revenues last year, is already facing a 70 per cent revenue shortfall in the current fiscal in past couple of months.
In this backdrop, it is of paramount importance that mining resumes in the state of Goa at the earliest.
“We welcome the proactive steps taken by Chief Minister of Goa Pramod Sawant for resumption of mining activities in the state wherein he had meeting with the Prime Minister and Union mines minister,” GCCI president Manoj Caculo said.
“We are hopeful that the follow up meetings shall be held at the earliest and an appropriate decision to resume mining in the interest of State of Goa and its subjects shall be taken at the earliest,” he added. (PTI)
Music, dance can provide relief from anxiety caused by COVID-19 pandemic: VP Naidu
NEW DELHI, Oct 27: Vice President M Venkaiah Naidu on Tuesday said that music and dance can provide relief from the anxiety caused by the COVID-19 pandemic. Launching the virtual festival of ‘Parampara Series 2020-National Festival of Music and Dance’ organised by Natya Tarangini in partnership with the United Nations, the vice president said that music and dance rejuvenate and energise people and make their lives more fulfilling.
They bring harmony into our lives and nourish our inner spirit by dispelling gloom and despair, he opined.
Naidu said there could not have been a better time than now for holding the dance and music festival as the normal life has been disrupted by lockdowns, economic downturns and lack of social interaction caused by the pandemic an official statement said.
Noting that the pandemic has caused the theatres and auditoriums to remain closed for the last few months impacting the performing arts industry, Naidu wanted the artists and institutions to leverage technology and find new avenues to propagate and preserve the tradition.
The festival has been organised to coincide with the World Day for Audio-Visual Heritage on Tuesday.
Referring to Samaveda and Bharatamuni’s Natyashastra, the vice president said India has a glorious tradition of music and dance.
He said that India’s diverse art forms of dance, music, and drama represent our common civilisational philosophy and values like harmony, unity and solidarity.
There is also a distinct focus on devotion, spirituality and there is an entire gamut of expressions of nine ‘rasas’ that constitute human existence, he added.
Naidu said that people must constantly review and renew the traditional treasures. He also wanted systematic incorporation of these elements in the education system to sustain the ‘parampara’ (tradition).
Making performing arts a compulsory part of the curriculum would help students to become confident, shed inhibitions, explore hidden talents and nurture creativity, he felt.
Stressing that in current times, the world needs a message of harmony within the body and an ability to live harmoniously with everyone around.
Naidu said the pandemic has demonstrated to humankind the dangerous consequences of disrupting nature and its habitat.
In this regard, he called for keeping environmental protection and sustainability at the core of every action of individuals, communities, organisations and governments. Emphasising that it is our duty to pass on a safer and greener planet to future generations, Naidu said that ‘Bharatiya’ culture and civilisational values have always highlighted the importance of harmonious co-existence with the nature and all living things.
Since ancient times, the Indian culture has accorded reverence to nature and nurtured environmental-friendly practices, he said.
Terming the public-private-partnership as the need of the hour, the vice president appealed to all industry leaders to promote art, culture and sports to equip new generation of India for a better future.
Raja Reddy, Radha Reddy, the legendary Kuchipudi dance couple, Lakshmi Puri, former UN assistant secretary general, G Mallikarjuna Rao, chairman, GMR group attended the online event. (PTI)
SC extends till March 31 time to complete trial in sexual assault case against Tarun Tejpal
NEW DELHI, Oct 27: The Supreme Court Tuesday extended till March 31 the time for completing trial in the sexual assault case against Tehelka magazine founder Tarun Tejpal.
Tejpal is alleged to have sexually assaulted a former woman colleague inside an elevator of a five-star hotel in Goa in 2013. He has denied the allegations levelled against him.
He was arrested on November 30, 2013 by the crime branch after his anticipatory bail plea was rejected by the court. He has been out on bail since May 2014.
The matter came up for hearing on Tuesday before a bench headed by Justice Ashok Bhushan.
Solicitor General Tushar Mehta told the bench, also comprising Justices R S Reddy and M R Shah, that the trial judge has made a request for extension of time.
The Goa government had earlier moved the top court seeking extension of time to complete the trial.
Senior advocate Kapil Sibal, appearing for Tejpal, said the apex court had already extended the time till December 31 this year for completion of trial and the bench may put up the matter for hearing in last week of December or in January.
“If the trial is completed by December end, then this application by the trial judge would become infructuous and if it is not completed, then time can be extended,” Sibal said.
“There is no question of completion of trial by December 31 as there are witnesses to be examined. It will be better if we extend it till March 31,” the bench observed.
The bench said, “The problem is Mr Sibal you are not even ready for video-conferencing or it would have got completed in two months”.
The apex court, while taking the application seeking extension of time on record, extended it till March 31 next year.
The trial court in Mapusa town of Goa had framed charges against Tejpal under various sections of the Indian Penal Code, including alleged sexual harassment.
The apex court had last year dismissed Tejpal’s plea seeking quashing of charges framed against him in the case. (PTI
US says it stands with India in efforts to defend its sovereignty; two countries ink key defence pact BECA
NEW DELHI, Oct 27: China’s military belligerence in eastern Ladakh and Indo-Pacific region figured prominently during the third edition of the 2+2 strategic dialogue between India and the US with Washington strongly affirming that it stands firmly with New Delhi in its efforts to defend sovereignty as the two sides vowed to ramp up their security ties, and inked the strategic defence pact, BECA.
During the high-level dialogue, which was led by Defence Minister Rajnath Singh and External Affairs Minister S Jaishankar from the Indian side and US Secretary of State Mike Pompeo and Defence Secretary Mark T Esper from the US side, the two countries also denounced the use of terrorist proxies and asked Pakistan to expeditiously bring to justice the perpetrators of all terror attacks, including 26/11 Mumbai, Uri, and Pathankot. Both sides were assisted by their top military and security officials.
In a blunt criticism of China, Pompeo, cited killing of 20 Indian Army personnel in the Galwan Valley in eastern Ladakh in a clash with the Chinese military, and asserted that both India and the US are taking steps to strengthen cooperation against all threats and not just those posed by the Chinese Communist Party (CCP).
Top government sources said China’s “expansionist behaviour” in eastern Ladakh and in various parts of the world was a major talking point during the meeting with both sides vowing to firmly confront the challenges in the region and beyond as part of their common vision and shared interests.
“This morning we visited the national war memorial to honour the brave men and women of the Indian Armed forces who sacrificed for the world’s largest democracy including the 20 soldiers who were killed by the PLA forces in Galwan Valley in June,” Pompeo said at a joint media briefing with Jaishankar, Singh and Esper.
“The US will stand with people of India to confront threats to their sovereignty and their liberty,” he added.
In the talks, which were held just a week before the US presidential elections, the two countries inked a total of five agreements including the long-negotiated Basic Exchange and Cooperation Agreement (BECA) that will allow sharing of high-end military technology, classified satellite data and critical information between their militaries.
The US Secretary of State also said that the challenge of defeating the coronavirus pandemic that came from Wuhan figured in the “robust discussions” about the Chinese Community Party.
“Our leaders and our citizens see with increasing clarity that the CCP is no friend to democracy, the rule of law transparency…I am glad to say that the US and India are taking steps to strengthen our cooperation against all manner of threats and not just those posed by the Chinese communist party,” Pompeo said.
A joint statement issued after the talks said the two sides also denounced the use of terrorist proxies and asked Pakistan to take immediate, sustained and irreversible action to ensure that no territory under its control is used for terrorist attacks, and to expeditiously bring to justice the perpetrators of all such attacks, including 26/11 Mumbai, Uri, and Pathankot.
“They emphasised the need for concerted action against all terrorist networks, including al-Qaeda, ISIS/Daesh, Lashkar-e-Tayyiba (LeT), Jaish-e-Mohammad (JeM) and Hizb-ul-Mujahideen,” it said.
At the press conference, US Defence Esper said the US stands “shoulder-to-shoulder” in support of a free and open Indo-Pacific for all, particularly in view of “increasing aggression and destabilising activities” by China, and noted that the bilateral defence cooperation is continuing to grow.
“I am pleased to report that today we made substantial progress in further strengthening our relationship,” he said.
Esper said the US reaffirmed its commitment to a comprehensive and forward looking defence partnership with India which includes bilateral defence cooperation in the Indian Ocean Region, South East Asia and in the broader Indo-Pacific.
In his remarks, Defence Minister Singh said both sides shared assessment of the security situation across the Indo-Pacific, and reaffirmed commitment to peace, stability and prosperity of all countries in this region.
“We also agreed that upholding the rules-based international order, respecting the rule of law and freedom of navigation in the international seas and upholding the territorial integrity and sovereignty of all states are essential,” Singh said.
On his part, External Affairs Minister Jaishankar said the Indo-Pacific region was a “particular focus of our talks”, adding a “multi-polar world must have a multi-polar Asia as its basis”, comments seen as a clear articulation of India’s position that China’s dominance is not acceptable to it.
“We reiterated the importance of peace, stability and prosperity for all countries in this region. As Raksha Mantri stated, this is possible only by upholding the rules-based international order, ensuring the freedom of navigation in the international seas, promoting open connectivity and respecting the territorial integrity and sovereignty of all states,” Jaishankar said.
The external affairs minister said the discussions also covered developments in India’s neighbouring countries.
“We made clear that cross-border terrorism is completely unacceptable. In Afghanistan, India’s stakes in its security and stability are evident, as is our willingness to contribute to international efforts to that end,” he said.
In the talks, the two sides discussed cooperation in a range of sectors including nuclear energy, oil and gas, space, healthcare, cyber security, defence trade and people-to-people contact.
The two sides noted ongoing discussions by the United States Trade Representative and India’s Ministry of Commerce and Industry to reach an understanding on improving market access, removing barriers to trade, and improving the business environment.
“The ministers noted with satisfaction the significant strides made under the four pillars of the strategic energy partnership (SEP) covering oil and gas, power and energy efficiency, renewables and sustainable growth. They also appreciated the progress made under the India-US Gas Task Force and the launch of industry-led projects,” the joint statement said.
Recalling the historic India-US civil nuclear agreement, the ministers welcomed the project initiatives between Nuclear Power Corporation of India Limited (NPCIL) and Westinghouse Electric Company (WEC) for the construction of six nuclear reactors at Kovvada.
On the Indo-Pacific, both sides reiterated commitment to maintaining a free, open, inclusive, peaceful, and prosperous Indo-Pacific built on a rules-based international order, underpinned by ASEAN centrality, rule of law, sustainable and transparent infrastructure investment.
“Highlighting the importance of securing the economic and security interests of all stakeholders having a legitimate interest in the region, the ministers welcomed the growing understanding on the Indo-Pacific among like-minded countries,” the joint statement said.
It said they reaffirmed that closer India-US cooperation will support shared interests in promoting security and prosperity in the Indo-Pacific region and beyond.
“They also emphasised that the Code of Conduct in the South China Sea should not prejudice the legitimate rights and interests of any nation in accordance with international law,” it said.
After the 2+2 talks, Pompeo and Esper called on Prime Minister Narendra Modi and discussed several issues of regional and global concern.
“The Secretary and the Prime Minister pledged to further strengthen the US-India Comprehensive Global Strategic Partnership to better ensure the security and prosperity of both countries, the Indo-Pacific region, and the world,” the US State Department said in a brief statement. (PTI)