Latest news with #137
The Hindu
28-07-2025
- Business
- The Hindu
CPI(M) demands scrapping of G.O. 137 allotting land to Lulu Group in Andhra Pradesh
The Andhra Pradesh State Committee of the Communist Party of India (Marxist) has strongly opposed Government Order (G.O.) 137, which allots valuable government and APSRTC land to the multinational conglomerate Lulu Group. In a statement issued on Monday, CPI(M) State Secretary V. Srinivasa Rao demanded the immediate cancellation of the G.O., calling it a threat to small and medium businesses and employment in the State. He said the G.O. facilitates the allotment of 13.83 acres of prime government land in Visakhapatnam and 4.15 acres of APSRTC land in Vijayawada to the Lulu Group for commercial development, including the construction of a Lulu Mall. 'The government, which is supposed to protect public sector assets, is now surrendering them to corporate entities under the guise of development,' Mr. Srinivasa Rao alleged. He took strong objection to the 99-year lease granted on nominal terms, describing it as virtually handing over the land for free. He warned that the entry of large multinational retail firms like Lulu would deal a severe blow to small and medium-scale traders, many of whom are already struggling. 'The retail sector is already reeling from the entry of corporate giants. Encouraging such firms will lead to massive job losses and the closure of local businesses,' he said. Mr. Srinivasa Rao urged the State government to reconsider its decision, revoke G.O. 137, protect public assets, and take proactive steps to support small and medium businesses.
The Advertiser
12-07-2025
- Entertainment
- The Advertiser
Paris 'concerned' about Michael Jackson estate payments
Singer Paris Jackson is "concerned" about payments being made by her father Michael Jackson's estate. The 27-year-old Jackson has objected to a request for court approval of the estate executors' "premium payments" to three law firms in her position as a beneficiary of the Thriller hit-maker's estate. In documents filed on June 24 and obtained by People magazine, Jackson expressed her concern over an alleged "practice of granting so-called 'premium payments' for unrecorded attorney time, much less paying 100 per cent of any such extraordinary amounts". The paperwork named six months in 2018 when executors requested approval for $US625,000 ($A950,137) in payments for "uncaptured time" without explaining "as to why counsel was incapable of recording unbilled time, or why such a failure should not preclude payment". Two of the firms had received their prospective payments, in breach of the "court's order allowing only partial payment of attorneys' fees until court approval is obtained". "Even worse, these payments appear, at least in part, to consist of lavish gratuities bestowed upon already well-compensated counsel," the document said. "(The payments) raise serious and substantial questions about Executors' ability to effectively supervise counsel, by, at minimum, requiring that counsel record their time in a manner susceptible to at least superficial review and oversight, namely by means of task-billed time entries, and refraining from wasteful, six-figure gift-giving to themselves and their colleagues." Jackson is also said to be "concerned" about the executors' alleged "gross lack of diligence in seeking the required court approval for extraordinary fees and costs" for the 2018 payments and lack of explanation for the delays. Her lawyer Craig Peters claimed there was "no written agreement" authorising executors to seek approval for fees in six-month increments and requested a "schedule for all of the outstanding approvals, both the accountings and the legal fees". Lawyers for the estate insisted nothing untoward had happened. "The executors' approval of payments to attorneys have been made with the same business judgment that has earned this estate over $US3 billion," Jonathan Steinsapir told People. "We are confident that the objected-to payments are appropriate as, indeed they are fully consistent with payments made in the decade prior, all of which have been approved by the Probate Court." Insiders said the "premium payments" were connected to the sale of Michael Jackson's stake in EMI to Sony. "They are objecting to relatively minor bonuses to three firms for work on the EMI catalogue sale in 2018," the source said. "The estate, assisted by these lawyers and others, bought a 10 per cent stake in EMI for $US50,000 ($A76,011) in 2012 due to a contractual right we had with Sony. "In 2018, the stake sold for almost $US300 million ($A456 million). Any business in this position would reward those who worked on that matter through the years. "They also claim that the estate had to withhold 30 per cent of all fees pending court approval. On that, they are simply mistaken and do not understand the court's orders. "The estate has paid bonuses like this to attorneys for years and they've all been approved without any objections." At the time of his death in 2009, Jackson - whose sons Prince and Bigi are also beneficiaries of his estate - was more than $US500 million ($A760 million) in debt to more than 65 creditors. A hearing regarding the matter is scheduled for Wednesday. Singer Paris Jackson is "concerned" about payments being made by her father Michael Jackson's estate. The 27-year-old Jackson has objected to a request for court approval of the estate executors' "premium payments" to three law firms in her position as a beneficiary of the Thriller hit-maker's estate. In documents filed on June 24 and obtained by People magazine, Jackson expressed her concern over an alleged "practice of granting so-called 'premium payments' for unrecorded attorney time, much less paying 100 per cent of any such extraordinary amounts". The paperwork named six months in 2018 when executors requested approval for $US625,000 ($A950,137) in payments for "uncaptured time" without explaining "as to why counsel was incapable of recording unbilled time, or why such a failure should not preclude payment". Two of the firms had received their prospective payments, in breach of the "court's order allowing only partial payment of attorneys' fees until court approval is obtained". "Even worse, these payments appear, at least in part, to consist of lavish gratuities bestowed upon already well-compensated counsel," the document said. "(The payments) raise serious and substantial questions about Executors' ability to effectively supervise counsel, by, at minimum, requiring that counsel record their time in a manner susceptible to at least superficial review and oversight, namely by means of task-billed time entries, and refraining from wasteful, six-figure gift-giving to themselves and their colleagues." Jackson is also said to be "concerned" about the executors' alleged "gross lack of diligence in seeking the required court approval for extraordinary fees and costs" for the 2018 payments and lack of explanation for the delays. Her lawyer Craig Peters claimed there was "no written agreement" authorising executors to seek approval for fees in six-month increments and requested a "schedule for all of the outstanding approvals, both the accountings and the legal fees". Lawyers for the estate insisted nothing untoward had happened. "The executors' approval of payments to attorneys have been made with the same business judgment that has earned this estate over $US3 billion," Jonathan Steinsapir told People. "We are confident that the objected-to payments are appropriate as, indeed they are fully consistent with payments made in the decade prior, all of which have been approved by the Probate Court." Insiders said the "premium payments" were connected to the sale of Michael Jackson's stake in EMI to Sony. "They are objecting to relatively minor bonuses to three firms for work on the EMI catalogue sale in 2018," the source said. "The estate, assisted by these lawyers and others, bought a 10 per cent stake in EMI for $US50,000 ($A76,011) in 2012 due to a contractual right we had with Sony. "In 2018, the stake sold for almost $US300 million ($A456 million). Any business in this position would reward those who worked on that matter through the years. "They also claim that the estate had to withhold 30 per cent of all fees pending court approval. On that, they are simply mistaken and do not understand the court's orders. "The estate has paid bonuses like this to attorneys for years and they've all been approved without any objections." At the time of his death in 2009, Jackson - whose sons Prince and Bigi are also beneficiaries of his estate - was more than $US500 million ($A760 million) in debt to more than 65 creditors. A hearing regarding the matter is scheduled for Wednesday. Singer Paris Jackson is "concerned" about payments being made by her father Michael Jackson's estate. The 27-year-old Jackson has objected to a request for court approval of the estate executors' "premium payments" to three law firms in her position as a beneficiary of the Thriller hit-maker's estate. In documents filed on June 24 and obtained by People magazine, Jackson expressed her concern over an alleged "practice of granting so-called 'premium payments' for unrecorded attorney time, much less paying 100 per cent of any such extraordinary amounts". The paperwork named six months in 2018 when executors requested approval for $US625,000 ($A950,137) in payments for "uncaptured time" without explaining "as to why counsel was incapable of recording unbilled time, or why such a failure should not preclude payment". Two of the firms had received their prospective payments, in breach of the "court's order allowing only partial payment of attorneys' fees until court approval is obtained". "Even worse, these payments appear, at least in part, to consist of lavish gratuities bestowed upon already well-compensated counsel," the document said. "(The payments) raise serious and substantial questions about Executors' ability to effectively supervise counsel, by, at minimum, requiring that counsel record their time in a manner susceptible to at least superficial review and oversight, namely by means of task-billed time entries, and refraining from wasteful, six-figure gift-giving to themselves and their colleagues." Jackson is also said to be "concerned" about the executors' alleged "gross lack of diligence in seeking the required court approval for extraordinary fees and costs" for the 2018 payments and lack of explanation for the delays. Her lawyer Craig Peters claimed there was "no written agreement" authorising executors to seek approval for fees in six-month increments and requested a "schedule for all of the outstanding approvals, both the accountings and the legal fees". Lawyers for the estate insisted nothing untoward had happened. "The executors' approval of payments to attorneys have been made with the same business judgment that has earned this estate over $US3 billion," Jonathan Steinsapir told People. "We are confident that the objected-to payments are appropriate as, indeed they are fully consistent with payments made in the decade prior, all of which have been approved by the Probate Court." Insiders said the "premium payments" were connected to the sale of Michael Jackson's stake in EMI to Sony. "They are objecting to relatively minor bonuses to three firms for work on the EMI catalogue sale in 2018," the source said. "The estate, assisted by these lawyers and others, bought a 10 per cent stake in EMI for $US50,000 ($A76,011) in 2012 due to a contractual right we had with Sony. "In 2018, the stake sold for almost $US300 million ($A456 million). Any business in this position would reward those who worked on that matter through the years. "They also claim that the estate had to withhold 30 per cent of all fees pending court approval. On that, they are simply mistaken and do not understand the court's orders. "The estate has paid bonuses like this to attorneys for years and they've all been approved without any objections." At the time of his death in 2009, Jackson - whose sons Prince and Bigi are also beneficiaries of his estate - was more than $US500 million ($A760 million) in debt to more than 65 creditors. A hearing regarding the matter is scheduled for Wednesday. Singer Paris Jackson is "concerned" about payments being made by her father Michael Jackson's estate. The 27-year-old Jackson has objected to a request for court approval of the estate executors' "premium payments" to three law firms in her position as a beneficiary of the Thriller hit-maker's estate. In documents filed on June 24 and obtained by People magazine, Jackson expressed her concern over an alleged "practice of granting so-called 'premium payments' for unrecorded attorney time, much less paying 100 per cent of any such extraordinary amounts". The paperwork named six months in 2018 when executors requested approval for $US625,000 ($A950,137) in payments for "uncaptured time" without explaining "as to why counsel was incapable of recording unbilled time, or why such a failure should not preclude payment". Two of the firms had received their prospective payments, in breach of the "court's order allowing only partial payment of attorneys' fees until court approval is obtained". "Even worse, these payments appear, at least in part, to consist of lavish gratuities bestowed upon already well-compensated counsel," the document said. "(The payments) raise serious and substantial questions about Executors' ability to effectively supervise counsel, by, at minimum, requiring that counsel record their time in a manner susceptible to at least superficial review and oversight, namely by means of task-billed time entries, and refraining from wasteful, six-figure gift-giving to themselves and their colleagues." Jackson is also said to be "concerned" about the executors' alleged "gross lack of diligence in seeking the required court approval for extraordinary fees and costs" for the 2018 payments and lack of explanation for the delays. Her lawyer Craig Peters claimed there was "no written agreement" authorising executors to seek approval for fees in six-month increments and requested a "schedule for all of the outstanding approvals, both the accountings and the legal fees". Lawyers for the estate insisted nothing untoward had happened. "The executors' approval of payments to attorneys have been made with the same business judgment that has earned this estate over $US3 billion," Jonathan Steinsapir told People. "We are confident that the objected-to payments are appropriate as, indeed they are fully consistent with payments made in the decade prior, all of which have been approved by the Probate Court." Insiders said the "premium payments" were connected to the sale of Michael Jackson's stake in EMI to Sony. "They are objecting to relatively minor bonuses to three firms for work on the EMI catalogue sale in 2018," the source said. "The estate, assisted by these lawyers and others, bought a 10 per cent stake in EMI for $US50,000 ($A76,011) in 2012 due to a contractual right we had with Sony. "In 2018, the stake sold for almost $US300 million ($A456 million). Any business in this position would reward those who worked on that matter through the years. "They also claim that the estate had to withhold 30 per cent of all fees pending court approval. On that, they are simply mistaken and do not understand the court's orders. "The estate has paid bonuses like this to attorneys for years and they've all been approved without any objections." At the time of his death in 2009, Jackson - whose sons Prince and Bigi are also beneficiaries of his estate - was more than $US500 million ($A760 million) in debt to more than 65 creditors. A hearing regarding the matter is scheduled for Wednesday.
Yahoo
23-06-2025
- Business
- Yahoo
ShaMaran Announces Annual Meeting Voting Results
VANCOUVER, BC, June 23, 2025 /CNW/ - ShaMaran Petroleum Corp. ("ShaMaran" or the "Company") (TSXV: SNM) (Nasdaq First North: SNM) held its annual general and special meeting of shareholders in Vancouver, British Columbia today, and all resolutions were passed. PDF Version Shareholders voted as follows on the matters before the meeting: Fixing the number of Directors Shareholders fixed the number of directors at five (5) with 99.65% of shares represented at the meeting voting in favour. Re-election of Directors Shareholders elected the following five (5) board members to serve on the Company's board of directors until the next annual meeting of shareholders or until their successors are elected or appointed: DIRECTOR ForWithheld Chris Bruijnzeels635,280,137 99.70 % 1,924,072 0.30 % Garrett Soden635,251,615 99.69 % 1,952,594 0.31 % Michael Ebsary635,303,258 99.70 % 1,900,951 0.30 % Keith Hill633,446,356 99.41 % 3,757,853 0.59 % Willian Lundin633,098,692 99.36 % 4,105,517 0.64 % Appointment of Auditors Shareholders appointed PricewaterhouseCoopers LLP as auditor of the Company for the upcoming year and authorized the directors of the Company to fix the remuneration of the auditor with 99.97% of shares represented at the meeting voting in favour. Approval of Stock Option Plan The Company's incentive stock option plan was approved by shareholders with 99.84% of shares represented at the meeting voting in favour. Approval of the Amendment to the Deferred Share Unit Plan The Company's amendment to the deferred unit plan was approved by shareholders with 99.84% of shares represented at the meeting voting in favour. About ShaMaran Petroleum Corp. ShaMaran is a Canadian independent oil and gas company focused on the Kurdistan region of Iraq. The Company indirectly holds a 50% working interest in the Atrush Block and an 18% working interest in the Sarsang Block. The Company is listed in Toronto on the TSX Venture Exchange and in Stockholm on Nasdaq First North Growth Market (ticker "SNM"). ShaMaran is part of the Lundin Group of Companies. Important Information ShaMaran is obliged to make this information public pursuant to the EU Market Abuse Regulation. This information was submitted for publication through the agency of the contact person set out below on June 23, 2025, at 5:30 p.m. Eastern Time. The Company's certified advisor on Nasdaq First North Growth Market is FNCA Sweden AB. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE ShaMaran Petroleum Corp. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
Codelco signs agreement with I-Pulse to explore advanced mining technologies
Codelco, the Chilean state-owned mining company, has signed a letter of intent (LOI) with I-Pulse to explore disruptive pulsed power solutions in mining. This agreement signifies the commencement of a strategic partnership focused on promoting the development and implementation of innovative and sustainable solutions for the mining sector. The partnership is set to explore the use of pulsed power for applications such as rock fragmentation and precision drilling, aiming to address the challenges faced by large-scale mining operations. These challenges include the handling of older deposits, lower ore grades and increasing global demand in the context of the energy transition. Codelco chairman of the Board of Directors Máximo Pacheco said: 'This alliance reflects our commitment to innovation as a driver of more efficient and responsible mining. 'The possibility of incorporating capabilities like those of I-Pulse, which can revolutionise key processes such as rock fragmentation, is fully aligned with our vision for the future of Codelco and our goal of being a pillar of sustainable development in Chile and the world.' In a related development, Codelco announced an exploration agreement with BHP for its Anillo property in the Antofagasta Region. The collaboration is subject to the requirements of Law 19,137, which governs Codelco's partnerships on non-operational or non-expansion mining projects. Furthermore, Codelco has announced a new collaboration with Rio Tinto to potentially develop the mining district around Nuevo Cobre in Chile's Atacama Region. Nuevo Cobre is a joint venture between Rio Tinto and Codelco, with the former holding a 57.74% stake and the latter 42.26%. The agreement between Rio Tinto and Codelco includes the formation of a joint committee and equal funding to conduct preliminary conceptual studies over an initial 12-month period, which can be extended. Last month, Codelco signed an agreement to provide copper concentrates to the Adani Group's $1.2bn (Rs102.47bn) smelter, referred to as Kutch Copper, located in Gujarat, India. "Codelco signs agreement with I-Pulse to explore advanced mining technologies" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Business Recorder
08-05-2025
- Business
- Business Recorder
ATIR's landmark order: Senior taxmen face FBR law director's action
ISLAMABAD: The Director Law of the Federal Board of Revenue (FBR) Wednesday initiated extreme action against senior tax officials based on a landmark order issued by the Appellate Tribunal Inland Revenue (ATIR) Islamabad. The order highlighted the poor quality of assessments, which not only erodes taxpayer confidence but also negatively impacts the FBR's performance. In this regard, Director Law and written a letter to FBR Chairman on Wednesday recommending action against involved senior FBR officials. According to tax lawyer Waheed Shahzad Butt, the FBR had previously issued a circular stating that having five assessments reversed in appeal would be considered misconduct. However, the FBR failed to implement this crucial directive except one case where a senior officer was sent to DOT IR for passing accounting and tax laws again. The Director Law has now directed that a report be obtained from the concerned Chief Commissioner. If necessary, instructions will be issued to field formations to prevent such instances from recurring. This development aims to address the issue of frivolous poor assessments and improve the overall performance of the FBR: Waheed added. The FBR directive stated that during the hearing of the appeal in the subject titled case the on the contention of the taxpayer that all the discrepancies pertaining to revenue receipts under section 153(1)(a), contractual receipts under section 153( I )(c) and declared salary expenses were duly reconciled through documentary evidence before the assessing officer which were ignored by the assessing officer and an arbitrary tax demand was created. The Tribunal, to substantiate the appellant's claim provided a complete set of supporting documents with the instruction to verify. Despite repeated opportunities the department did not submit the reconciliation report. The learned DR, the same officer unsupported by any material evidence. Accordingly, the Impugned order is hereby annulled in its entirety, and the tits demand of Rs.43,977,137 deleted. A copy of this order shall he forwarded to the Director General (Legal), Federal Board of Revenue, for information and necessary corrective action to ensure that such instances of high-handedness and procedural lapses are not repeated in the future." 'The above state of affairs not only shatter the confidence of the taxpayers but also reflect the performance of the department in negative. It is, therefore. requested that report from the concerned Chief Commissioner may he called and then if warranted necessary instruction to avoid the recurrence of such instances may kindly be issued to the field formations. Copy of the judgment of the Tribunal is enclosed', Director Law added. Copyright Business Recorder, 2025
