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Kerala HC orders arrest of another sister ship of sunken vessel to recover losses

Kerala HC orders arrest of another sister ship of sunken vessel to recover losses

Scroll.in18-06-2025
The Kerala High Court on Wednesday ordered the conditional arrest of Liberian-flagged ship MV MSC Polo II for securing claims related to cargo losses incurred after its sister vessel, MSC Elsa 3, sank off the Kochi coast on May 25, Live Law reported.
Justice MA Abdul Hakhim passed the order in a suit filed by Sans Cashew India Private Limited, which claimed its consignment worth Rs 74 lakh was lost due to the sinking.
MSC ELSA 3 was on its way from Vizhinjam to Kochi and carrying 640 containers, including 13 hazardous cargo and 12 calcium carbide containers, when it sank 'reportedly due to flooding in one of the holds', the Indian Coast Guard had said.
On June 13, the High Court had issued a similar order to detain another vessel that is also operated by the Mediterranean Shipping Company following petitions from five other cargo owners who also lost shipments in the incident, The News Minute reported.
The order secured nearly Rs 6 crore as a conditional deposit for the release of the ship, Bar and Bench reported.
On Wednesday, Hakhim said that the conditional arrest of MSC Polo II would be lifted if the vessel's owners deposit Rs 74 lakh or furnish adequate security in court.
The court also clarified that the arrest can only be made when the ship is anchored within the territorial jurisdiction of Kerala.
The ship is currently en route to Vizhinjam Port, according to Bar and Bench.
The court ordered the arrest on the basis that the shipping company has no assets in India.
The matter will be heard next on June 23.
On May 29, the Kerala government declared the wreckage of MSC ELSA 3 a state-specific disaster.
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ETtech Explainer: What's the way forward for gaming industry after Lok Sabha clears Online Gaming Bill?
ETtech Explainer: What's the way forward for gaming industry after Lok Sabha clears Online Gaming Bill?

Economic Times

time27 minutes ago

  • Economic Times

ETtech Explainer: What's the way forward for gaming industry after Lok Sabha clears Online Gaming Bill?

ETtech The Lok Sabha on Wednesday passed the Promotion and Regulation of Online Gaming Bill, 2025, seeking a blanket ban on real money gaming in India, minutes after it was introduced in the House. The government says this move addresses the risks of fraud, money laundering, and terror financing and encourages the growth of e-sports and skill-based online games in the country. However, industry stakeholders warn that the outright prohibition could backfire – pushing users to illegal offshore gambling and unregulated platforms. ETtech explains the details of the bill and what happens next. First, what are online money games? According to the bill, online money games are those played by the user by 'paying fees, depositing money, or other stakes, in expectation of winning in return for money or other stake, irrespective of whether such game is based on skill, chance, or both.' These include popular games such as Poker, RummyCircle, Junglee Rummy, WinZO Ludo, BigCash, Zupee, and Money Clicker, where players put in money with the expectation of cash rewards. In contrast, skill-based games such as chess, card games played without stakes, arcade games, puzzles, and even poker in a non-monetary context are seen as tests of ability and strategy rather than betting and continue to be encouraged under the bill. Meanwhile, it excludes e-sports and online social games in both casual entertainment and skill-based formats, which do not involve any monetary stakes. What does the bill say? According to the draft bill, which was cleared in the Lok Sabha today, there will be a complete ban on online money games falling under its definition. As a result: Anyone offering these services will face imprisonment of up to three years or a fine of up to Rs 1 crore, or both. Anyone advertising such services could face up to two years of jail and/or a fine of up to Rs 50 lakh. Banks and financial institutions facilitating transactions for such games will also face penalties, including up to three years in jail or a fine of Rs 1 crore. What happens to the companies? The representatives of the Rs 27,438 crore online money gaming sector fear the prospect of being shut down. Companies such as Dream11, MPL, Games24x7, Winzo, Zupee, and publicly listed Nazara Technologies, which has stakes in Classic Rummy and PokerBaazi, could be among those hit by the legal experts noted that there will be no immediate effect. 'There will be no immediate effect, as the bill has only just been passed in the Lok Sabha. It will next move to the Rajya Sabha for discussion and then to the President for assent, so it will take some time before it becomes an Act,' Apeksha Singh, a commercial lawyer at the Bombay High Court, told ET. Also Read: Gaming bodies write to Amit Shah; urge to block blanket ban, warn of Rs 20,000 crore tax loss What about the online money gaming ecosystem?The online gaming sector currently employs more than 200,000 professionals across over 400 startups and has drawn Rs 25,000 crore in foreign direct investment (FDI).Industry leaders warn that this bill will choke foreign investment and cost the exchequer an estimated Rs 20,000 crore in lost taxes. An allied ecosystem that spends nearly Rs 6,000 crore annually on advertising, technology, and infrastructure could also take a to the bill getting passed in Lok Sabha, the All India Gaming Federation (AIGF), the E-Gaming Federation (EGF), and the Federation of Indian Fantasy Sports (FIFS) wrote a joint letter to home minister Amit Shah, saying the draft bill, which seeks to prohibit all real money games, including those based on skill, would 'strike a death knell' for the entire industry. So, why is the government pushing for this bill? After the bill was passed in the Lok Sabha, IT minister Ashwini Vaishnaw said that online money gaming has become a bigger issue than drugs in the country, and many youngsters have died by suicide after losing their savings in such an interview with ET Now, Vaishnaw said that there are three segments to the bill — e-sports, online social gaming, and online money gaming. 'This bill aims to promote the first two segments, wherein an authority will be created. There will be more schemes, employment, and the creator economy grows,' he said, adding that the bill will protect from the harm that the third segment – online money gaming – causes. What are the stakeholders saying? According to the stakeholders, the outright prohibition could backfire, pushing users to illegal offshore gambling and unregulated platforms.'A restriction will push millions of Indian users toward offshore betting websites, matka operators, and unregulated platforms, exposing them to fraud, addiction risks, and zero consumer protection,' said Rameesh Kailasam, president and CEO of an industry group representing internet startups. 'The bill seems aimed at offshore gambling and betting apps but ends up targeting law-abiding, tax-paying Indian startups.''While the government is pursuing a comprehensive ban on online gaming, its enforcement poses significant challenges,' said Rishi Agrawal, chief executive and cofounder of Teamlease Regtech, a regulatory compliance management company. 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ETtech Explainer: What's the way forward for gaming industry after Lok Sabha clears Online Gaming Bill?
ETtech Explainer: What's the way forward for gaming industry after Lok Sabha clears Online Gaming Bill?

Time of India

time27 minutes ago

  • Time of India

ETtech Explainer: What's the way forward for gaming industry after Lok Sabha clears Online Gaming Bill?

Anyone offering these services will face imprisonment of up to three years or a fine of up to Rs 1 crore, or both. Anyone advertising such services could face up to two years of jail and/or a fine of up to Rs 50 lakh. Banks and financial institutions facilitating transactions for such games will also face penalties, including up to three years in jail or a fine of Rs 1 crore. The Lok Sabha on Wednesday passed the Promotion and Regulation of Online Gaming Bill , 2025, seeking a blanket ban on real money gaming in India, minutes after it was introduced in the government says this move addresses the risks of fraud , money laundering, and terror financing and encourages the growth of e-sports and skill-based online games in the country. However, industry stakeholders warn that the outright prohibition could backfire – pushing users to illegal offshore gambling and unregulated explains the details of the bill and what happens to the bill, online money games are those played by the user by 'paying fees, depositing money, or other stakes, in expectation of winning in return for money or other stake, irrespective of whether such game is based on skill, chance, or both.'These include popular games such as Poker, RummyCircle , Junglee Rummy, WinZO Ludo, BigCash, Zupee, and Money Clicker, where players put in money with the expectation of cash rewards. In contrast, skill-based games such as chess, card games played without stakes, arcade games, puzzles, and even poker in a non-monetary context are seen as tests of ability and strategy rather than betting and continue to be encouraged under the it excludes e-sports and online social games in both casual entertainment and skill-based formats, which do not involve any monetary to the draft bill, which was cleared in the Lok Sabha today, there will be a complete ban on online money games falling under its definition. As a result:The representatives of the Rs 27,438 crore online money gaming sector fear the prospect of being shut down . Companies such as Dream11, MPL, Games24x7, Winzo, Zupee, and publicly listed Nazara Technologies, which has stakes in Classic Rummy and PokerBaazi, could be among those hit by the legal experts noted that there will be no immediate effect.'There will be no immediate effect, as the bill has only just been passed in the Lok Sabha. It will next move to the Rajya Sabha for discussion and then to the President for assent, so it will take some time before it becomes an Act,' Apeksha Singh, a commercial lawyer at the Bombay High Court, told online gaming sector currently employs more than 200,000 professionals across over 400 startups and has drawn Rs 25,000 crore in foreign direct investment (FDI).Industry leaders warn that this bill will choke foreign investment and cost the exchequer an estimated Rs 20,000 crore in lost taxes. An allied ecosystem that spends nearly Rs 6,000 crore annually on advertising, technology, and infrastructure could also take a to the bill getting passed in Lok Sabha, the All India Gaming Federation (AIGF), the E-Gaming Federation (EGF), and the Federation of Indian Fantasy Sports (FIFS) wrote a joint letter to home minister Amit Shah, saying the draft bill, which seeks to prohibit all real money games, including those based on skill, would 'strike a death knell' for the entire the bill was passed in the Lok Sabha, IT minister Ashwini Vaishnaw said that online money gaming has become a bigger issue than drugs in the country, and many youngsters have died by suicide after losing their savings in such an interview with ET Now, Vaishnaw said that there are three segments to the bill — e-sports, online social gaming, and online money gaming.'This bill aims to promote the first two segments, wherein an authority will be created. There will be more schemes, employment, and the creator economy grows,' he said, adding that the bill will protect from the harm that the third segment – online money gaming – to the stakeholders, the outright prohibition could backfire, pushing users to illegal offshore gambling and unregulated platforms.'A restriction will push millions of Indian users toward offshore betting websites, matka operators, and unregulated platforms, exposing them to fraud, addiction risks, and zero consumer protection,' said Rameesh Kailasam, president and CEO of an industry group representing internet startups. 'The bill seems aimed at offshore gambling and betting apps but ends up targeting law-abiding, tax-paying Indian startups.''While the government is pursuing a comprehensive ban on online gaming, its enforcement poses significant challenges,' said Rishi Agrawal, chief executive and cofounder of Teamlease Regtech, a regulatory compliance management company. 'The internet's global accessibility makes it likely that new gaming platforms will emerge worldwide, targeting vulnerable Indian youth and heightening risks such as cyberbullying, identity theft, phishing, and other scams.'Further, industry representatives are urging the government to pursue 'smart regulation' that distinguishes games of skill from games of chance, ensures user safety and responsible gaming, enforces grievance redressal, and clarifies taxation policies.

‘2.27 lakh transactions using single account': CAG flags Rs 59.32-cr excess in Covid-time benefit transfers in Karnataka
‘2.27 lakh transactions using single account': CAG flags Rs 59.32-cr excess in Covid-time benefit transfers in Karnataka

Indian Express

time27 minutes ago

  • Indian Express

‘2.27 lakh transactions using single account': CAG flags Rs 59.32-cr excess in Covid-time benefit transfers in Karnataka

A report of the Comptroller and Auditor-General (CAG) of India tabled in the Karnataka Assembly on Wednesday flagged some payments made to beneficiaries in the state during the first wave of the Covid pandemic. The CAG has found that Rs 59.32 crore was paid in excess, while 2,195 beneficiaries could not be verified. The Karnataka Building and Other Construction Welfare Board provided details of around 16.46 lakh beneficiaries to whom aid to the tune of Rs 823.12 crore was provided using direct benefit transfer during the pandemic. 'An analysis of the data provided by the Board revealed that 2,27,231 transactions were conducted multiple times using the same bank account number,' the report noted. Further, 1,08,5689 beneficiaries received benefits multiple times through various payment methods. The CAG audit identified repetitive transactions resulting in excess payments amounting to Rs 59.32 crore. The CAG report on the board said that due to incomplete data provided by the Government, the genuineness of payments amounting to Rs 1.1 crore could not be verified. Irregularities that took place during the Covid pandemic are the subject of an ongoing investigation by the Justice Michael D'Cunha Commission, which has submitted two interim reports related to the procurement of various goods and services and the distribution of benefits during the pandemic. The CAG report also highlighted the registration of ineligible people as construction workers. The CAG scrutinised randomly selected 399 applicants for registration and renewal of beneficiaries available. Its report observed that 'employment certificate furnished along with the applications did not contain the details of employment but were accepted by the Registering Officer'. Tailors, clerks, weavers, and people pursuing some other occupations were registered as construction workers and availed of the benefits, the report said.

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