Latest news with #Hemant
Indian Express
19 hours ago
- Business
- Indian Express
Bombay HC declares arrest of Anchor group director by EOW ‘completely illegal', orders his release
The Bombay High Court on Friday held as 'completely illegal' the arrest of Anchor Group director Hemant Jadavji Shah, who was arrested by the Economic Offences Wing (EOW) of Mumbai police earlier this month. It ordered that he be released from Arthur Road jail forthwith. The agency arrested him for allegedly defrauding his elder brother to the tune of Rs 9 crore while investing the proceedings of the sale of their company Anchor Electricals, which was sold to Panasonic Electricals in 2007. The HC noted that the petitioner was produced before the magistrate nearly 30 hours after his arrest, which was against legal principles and violated his fundamental rights. The court further said the EOW officers acted in 'unholy haste' in registering the FIR. Hemant Shah (50) was booked under offences of cheating and criminal breach of trust based on the complaint by his brother Mehul Shah. The alleged financial transactions were undertaken between 2020 and 2025 under the garb of investments in mutual funds to seek higher returns. A vacation bench of Justices Gauri V Godse and Somasekhar Sundaresan passed an order on Hemant's plea alleging illegal detention. Senior advocate Ravi Prakash for Hemant argued EOW's reply to the plea clearly showed the petitioner was arrested on May 17 at 5:30 pm and was produced before the magistrate after 24 hours, at 11 pm on May 18. The HC noted that while the immigration officers detained him on May 17 evening, they handed over his custody to EOW at 4 am on May 18. Prakash submitted that the detention of the petitioner by immigration officers and producing him before the magistrate after almost 30 hours would render his arrest illegal. The bench perused the remand report and noted that the petitioner was taken into custody by the immigration officers at IGI Airport in Delhi and custody continued till EOW officers reached the airport and he was handed over to them at Delhi airport. Therefore, the HC 'did not find any substance' in Mehul's submission that the immigration officers cannot be termed as authorised officers for arresting the petitioner or to take him into custody. 'Thus, we are of the view that there is breach of the requirements under Section 48 (obligation of person making arrest to inform about the same to relative or friend) of the Bharatiya Nagarik Suraksha Sanhita (BNSS) and the continuation in custody without producing him before the nearest magistrate within the stipulated time of 24 hours as is completely illegal and it infringes the fundamental rights under Article 22 (2) of the Constitution,' the bench noted in its order. It also held that the illegal detention violated the petitioner's right to liberty under Article 21 of the Constitution. The HC said it would refrain from expressing comments on 'unholy haste shown by the officers in registering FIR post midnight at 2 14 am on May 14 and also in issuing Look Out Circular (LOC) on the same day'. 'Considering the nature of the dispute and the allegations made against the petitioner, we did not find that there was any such hurry to initiate action to take the petitioner into custody with such zeal and enthusiasm. In view of the well settled legal principles, we have no manner of doubt in concluding that the petitioner's arrest is illegal for non-compliance of the provisions of law,' the HC said and allowed his plea.
Time of India
3 days ago
- Business
- Time of India
Stock market update: Nifty Realty index falls 0.15%
NEW DELHI: The Nifty Realty index closed on a negative note on Wednesday. Shares of Sobha Ltd.(up 2.96 per cent), Macrotech Developers Ltd.(up 1.0 per cent), Brigade Enterprises Ltd.(up 0.88 per cent) and Prestige Estates Projects Ltd.(up 0.51 per cent) ended the day as top gainers in the pack. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 'Swing is King': Top Trader Hemant's Strategy Finally Explained in this Free Session ! TradeWise Learn More Undo On the other hand, Phoenix Mills Ltd.(down 1.47 per cent), Oberoi Realty Ltd.(down 1.45 per cent), Anant Raj Ltd.(down 0.84 per cent), Godrej Properties Ltd.(down 0.61 per cent) and DLF Ltd.(down 0.27 per cent) finished as the top losers of the day. The Nifty Realty index closed 0.15 per cent down at 944.9. Benchmark NSE Nifty50 index ended down 73.75 points at 24752.45, while the BSE Sensex stood down 239.31 points at 81312.32. Live Events Among the 50 stocks in the Nifty index, 14 ended in the green, while 36 closed in the red. Shares of Vodafone Idea, ITC, IFCI, Belrise Industries and Suzlon Energy were among the most traded shares on the NSE. Shares of Apollo Micro Systems, Belrise Industries, GSK Pharma, Force Motors and Astra Microwave hit their fresh 52-week highs in today's trade, while Capital India Fin, Orchid Pharma, Borana Weaves, NIIT Learning System and California Soft(PP)hit their fresh 52-week lows.
Time of India
5 days ago
- Time of India
21-year-old shot dead in Mohali over ‘financial dispute', 3 booked
1 2 3 Mohali: A young man was shot dead during a fight stemming from an old rivalry, near Sector-91 light point in Mohali on Sunday night. The victim was identified as 21-year-old Hemant Kumar , originally from Shamli, UP, who was living in a rented house in Madanpura with his brother Amit Kumar. Hemant worked as a driver. Police investigations revealed that Hemant Kumar was shot allegedly by Sandeep, Gabbar, and Rizwan. Based on the statement of Hemant's brother, Phase-1 police have registered a case against the three under Section 103 of the Bharatiya Nyaya Sanhita (BNS) and the Arms Act. Hemant's body has been sent for post-mortem to the mortuary at Civil Hospital Phase-6. He died from a gunshot wound to the chest. In his statement to the police, Amit said Hemant had financial dealings with Sandeep, Gabbar, and Rizwan. A few days back, there was a dispute over money, but it was resolved by some people, who intervened in the matter. Phase 1 police station SHO inspector Sukhbir Singh said, "Hemant died from a gunshot wound during a dispute over financial dealings. Based on Amit's statements, a murder case has been registered against three young men. The police team is conducting raids to arrest the accused." According to police, around 9pm on Sunday, the three accused surrounded Hemant, argued with him, during which one of them shot Hemant in the chest. The attackers fled, leaving him injured at the spot. Passersby saw Hemant lying in a pool of blood by the roadside and informed the police control room. Industrial Area Phase-8 police and Phase-1 police team arrived at the scene and took Hemant to Phase-6 Civil Hospital, where doctors declared him dead. MSID:: 121416439 413 |
Time of India
5 days ago
- Business
- Time of India
NITI report suggests adoption of Turkiye's program to address skill gaps in India
A NITI Aayog report on Monday mentioned Turkiye as one of the nations from which India can adopt global best practices for addressing skill gaps in the country's medium enterprises. The report titled 'Designing a Policy for Medium Enterprises' listed programmes of Turkiye in addition to Canada, Singapore and Australia for encouraging medium enterprises. The report said Turkiye's "KOSGEB provides distance training on entrepreneurship; an effective, easy and flexible entrepreneurship training without time and space constraints by E- Akademi Programme ... Entrepreneurship Support Programme, with preferential treatment for women, youth and handicapped entrepreneurs." Also, observing that Turkiye's e-Academy is an online training platform providing subsidised courses, enhancing accessibility for SMEs across regions, the report said, "online training programs can be offered at a subsidized rate, and free of cost for marginalized groups (as provided in Turkiye's e-Academy)." Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No.1 Swing Trading Strategy Revealed by Mr. Hemant – Free Access! TradeWise Learn More Undo Turkiye is facing backlash in India for its support to Pakistan during Operation Sindoor, which was launched by the country to destroy terror infrastructure following the Pahalgam terror attack, in which 26 people including tourists, were killed. India's aviation security regulator BCAS earlier this month revoked the security clearance of Turkish firm Celebi Airport Services India on grounds related to national security with immediate effect. Live Events The NITI report said for medium enterprises to succeed in a globalized market, there is a clear need for a tailored, data-driven approach to skill development that can align with industry needs and ensure a competitive, skilled workforce. To address challenges faced by medium enterprises, it recommended the introduction of a working capital financing scheme linked to enterprise turnover, a Rs 5 crore credit card facility at market rates and expedited fund disbursal mechanisms through retail banks, overseen by the Ministry of MSME. The report also suggested the upgradation of existing technology centres into sector-specific and regionally customised India SME 4.0 Competence Centers to promote the adoption of Industry 4.0 solutions. The Aayog also recommended the establishment of a dedicated R&D cell within the Ministry of MSME, leveraging the Self-Reliant India Fund for cluster-based projects of national significance. The MSME sector contributes approximately 29 per cent to India's GDP, accounts for 40 per cent of exports, and employs over 60 per cent of the workforce. Despite its critical role, the composition of the sector is disproportionately weighted -- 97 per cent of registered MSMEs are micro-enterprises, 2.7 per cent are small, and only 0.3 per cent are medium enterprises. Medium enterprises, though only 0.3 per cent of MSMEs, contribute 40 per cent of MSME exports, showcasing immense untapped potential.
Time of India
7 days ago
- Business
- Time of India
Hemant seeks pending mining dues, special assistance for state at Niti Aayog meet
Ranchi: Reiterating Jharkhand's demand for clearance of the state's dues related to mining, chief minister Hemant Soren on Saturday stressed the need to modify the fund devolution mechanism in the country during the 10th governing council meeting of the Niti Aayog chaired by Prime Minister Narendra Modi in New Delhi. Hemant also sought special financial assistance for over a dozen districts in the state which are battling developmental challenges. "The vision of Viksit Bharat can only be achieved by taking development to the villages. The vision begins with a developed state, which necessitates connecting developed villages. My govt is continuously working towards that mission," the chief minister said. Raking up the issue of dues owed by different mining companies, he said, "Outstanding funds amounting to around Rs 1.40 lakh crores should promptly be paid by the mining companies for taking over the state's land for mining-related activities. While Jharkhand is rich in mineral resources, it has to pay the price of displacement and pollution concerns." He also sought the amendment of The Coal Bearing Areas (Acquisition and Development) Act, 1957, under which mining companies must return land to the state govt after their activities. "Companies should be held accountable for unauthorised mining in the state," he said and called for imposing new mandates on the mining companies. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 40대 이상이고 PC가 있으세요? 그럼 이 게임을 정말 좋아하실 거예요! Sea of Conquest 플레이하기 Undo "The state has abundant coal-based methane gas, which can be utilised for energy production. Mining companies should be allowed to set up captive plants and 30% of total production should be used within the state to increase employment. However, forest clearances delay such infrastructure development and should be resolved as done in northeastern states which have comparable forest areas with Jharkhand," he said, citing how the age-old tenancy laws in the state are hindering enterprises. The chief minister also demanded special assistance for Jharkhand similar to the northeastern states. "There is a need to implement special central assistance in 16 districts. The state govt bears the retention fees for central armed protection forces' (CAPFs) deployment to address the issue of extremism, which should be completely abolished under the principle of cooperative federalism. Even though the Naxal issue is restricted to only two districts now vis-à-vis 16 districts in 2014, the Centre must implement special central assistance in all 16 districts," he stressed. Laying stress on modifying criteria of central schemes, Hemant said, "Jharkhand govt has formulated several social security schemes, including pension schemes, Maiya Samman Yojana and Abua health scheme, among others, and therefore, central schemes should be implemented only in accordance with the state requirements," he said. Ahead of the scheduled visit of the 16th Finance Commission team to Jharkhand later this month, the CM called for the establishment of necessary procedures for revenue sharing between the central and state govts. "The vertical devolution of revenue needs to be increased from 41% to 50%. Currently, the divisible pool is assessed by the central govt, excluding all cesses and surcharges. No portion of this is included in the divisible pool. Since the implementation of the GST Act in 2017, manufacturing states like Jharkhand faced adverse impacts on revenue collection compared to the previous VAT system. For the initial five years, the state received compensation according to 14% protected revenue. Since June 2022, the absence of funds resulted in the state facking revenue losses amounting to thousands of crores," he underlined while demanding the expansion of rail operations in the state and the integration of CSR and DMFT funds into the state govt's priorities to address regional imbalances. State chief secretary Alka Tiwari, CM's additional chief secretary Avinash Kumar, resident commissioner (Delhi) Arwa Rajkamal, and planning secretary Mukesh Kumar accompanied Hemant at the meeting.
