Latest news with #Rs20
Business Recorder
a day ago
- Automotive
- Business Recorder
‘BYD's Shark 6 PHEV launch to help fill the market gap'
KARACHI: BYD officials and auto sector experts believe the launch of Shark 6 Plug-in Hybrid Electric Vehicle (PHEV) will help fill the market gap, while attracting customers through its comfort, features, and luxury in comparison with other pickup trucks. They expressed these views during a media workshop on PHEV technology held in Karachi. The company is set to launch Shark 6 on July 25 as the country's first PHEV in the pickup truck segment. Talking to Business Recorder, PakWheels co-founder Suneel Munj said because of poor road infrastructure and for want of a proper charging network, PHEV was being launched so that commuters could use both plug-in hybrid and engine. 'The competition depends on the price of the vehicle', he said, anticipating the price of Shark 6 could be less than Rs20 million. Meanwhile, Danish Khaliq, Vice President Sales and Strategy at BYD Pakistan, was of the view that when consumers are given options, new vehicles make their places in the market. 'Our Shark 6 PHEV will attract customers who are already well-informed about all models of the international brand BYD. There is a gap in the market, we think we will fill this gap in terms of not only luxury, feature perspectives but also technology one. This is the first pickup truck in PHEV.' China's BYD says it is against import of 5-year-old used vehicles Delivering a presentation, he also explained how PHEVs redefine the hybrid driving experience. 'This isn't about incremental improvement, it's a leap. The electric motor does the heavy lifting. The combustion engine exists to support, not lead. That distinction changes the entire driving dynamic, especially for urban users who are increasingly looking for smarter and cleaner options,' he said. Khaliq said the fundamental difference between PHEVs and traditional hybrids (HEVs) was that while HEVs rely mainly on the petrol engine and recharge their batteries through their engine or by regenerative braking, PHEVs come equipped with a larger battery that can be charged externally. 'This allows them to offer both greater fuel efficiency and environmental benefits without compromising range. They also provide the capability to drive solely on the battery, with an extended range, operating as a pure electric vehicle.' In terms of real-world application, he said BYD's Shark 6, which uses the Dual Mode off-road (DMO) plug-in hybrid platform, could cut tailpipe CO₂ emissions by as much as 62%, a notable figure in congested cities like Karachi and Lahore, where transport emissions dominate the smog equation. 'Beyond its environmental benefits, the vehicle also delivers an exceptional driving experience for adventure seekers with multiple terrain modes, including mud, snow, and sand, ensuring complete control across diverse landscapes.' While the Shark 6 was the centerpiece during the event, the larger focus remained on how PHEVs could play a transformative role in Pakistan's mobility ecosystem. BYD Pakistan Country Head Lei Jian said the company's dual mode architecture had been under development for over two decades. 'We launched the world's first mass-produced PHEV back in 2008. With a vertically integrated supply chain and constant R&D, we've built a platform that's both intelligent and efficient. The engine only activates when it's needed, making long-distance travel stress-free,' he said. Jian stated that the system, which BYD introduced globally with the F3DM (the world's first mass-produced PHEV), had undergone over 20 years of continuous development. Under the Super Dual Mode Hybrid Platform, he explained, the vehicle combines a large-capacity power battery with a high-efficiency Xiaoyun 1.5L naturally aspirated engine, which offers an industry-leading thermal efficiency of 46.06%, a benchmark among mass-produced hybrid engines. Jian said BYD Shark 6 had been introduced not just as Pakistan's first PHEV pickup but also a category-defining product.
Time of India
4 days ago
- Time of India
FIR lodged against principal for extortion, mental harassment of teacher
Nagpur: The Hudkeshwar police have registered an offence against the principal of a school and junior college in Avdhut Nagar under Section 308(2) of the BNS, following allegations of extortion and mental harassment levelled by a senior teacher. The accused is also the joint secretary of the education society which runs the junior college, and is the son of the organisation's head. According to the complaint filed by Sarang Chaudhary, who has been working at the institute since 2016, the principal demanded Rs20 lakh in cash and five per cent of his monthly salary in exchange for regularising his post. Initially hired on an unaided basis, Chaudhary's post was made permanent in March 2023. However, he claimed he was coerced into transferring five percent of his salary — approximately Rs3,800 monthly — either in cash or into the account of a staff member. Chaudhary alleged that when he stopped the payments in October 2024, his salary account was frozen. He claimed that a letter was issued to his bank's branch in Narendra Nagar, instructing that his salary account be blocked. "Despite multiple complaints to education authorities and two separate orders from the deputy director of education in March and April 2025 directing the school to resume his salary, no action was taken by the management," he stated in the complaint. The complainant further alleged systematic harassment, including denial of attendance sign-ins, non-payment of arrears, exclusion from essential service records, and repeated demands for already-submitted appointment documents. The FIR also mentioned that his mobile phone was regularly confiscated during duty hours without any official reason. Chaudhary has alleged additional harassment, including being assigned non-teaching tasks, forced attendance at civil defence training meant for other teaching staff, and denial of recognition for completed government-mandated training. Chaudhary claimed that this harassment has caused financial distress to his family, pushing him to approach the police. Based on his complaint and supporting evidence, the Hudkeshwar police registered an FIR which identified the principal as Vikas Ingole. Senior inspector Dnyaneshwar Bhedodkar, PSI Omprakash Bhalavi, and PSI Yogesh Korde are conducting investigation.
Time of India
4 days ago
- Time of India
Principal booked for extortion, mental harassment of teacher
Nagpur: The Hudkeshwar police have registered an offence against the principal of a school and junior college in Avdhut Nagar under Section 308(2) of the BNS, following allegations of extortion and mental harassment levelled by a senior teacher. The accused is also the joint secretary of the education society which runs the junior college, and is the son of the organisation's head. According to the complaint filed by Sarang Chaudhary, who has been working at the institute since 2016, the principal demanded Rs20 lakh in cash and five per cent of his monthly salary in exchange for regularising his post. Initially hired on an unaided basis, Chaudhary's post was made permanent in March 2023. However, he claimed he was coerced into transferring five percent of his salary — approximately Rs3,800 monthly — either in cash or into the account of a staff member. Chaudhary alleged that when he stopped the payments in October 2024, his salary account was frozen. He claimed that a letter was issued to his bank's branch in Narendra Nagar, instructing that his salary account be blocked. "Despite multiple complaints to education authorities and two separate orders from the deputy director of education in March and April 2025 directing the school to resume his salary, no action was taken by the management," he stated in the complaint. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No annual fees for life UnionBank Credit Card Apply Now Undo The complainant further alleged systematic harassment, including denial of attendance sign-ins, non-payment of arrears, exclusion from essential service records, and repeated demands for already-submitted appointment documents. The FIR also mentioned that his mobile phone was regularly confiscated during duty hours without any official reason. Chaudhary has alleged additional harassment, including being assigned non-teaching tasks, forced attendance at civil defence training meant for other teaching staff, and denial of recognition for completed government-mandated training. Chaudhary claimed that this harassment has caused financial distress to his family, pushing him to approach the police. Based on his complaint and supporting evidence, the Hudkeshwar police registered an FIR which identified the principal as Vikas Ingole. Senior inspector Dnyaneshwar Bhedodkar, PSI Omprakash Bhalavi, and PSI Yogesh Korde are conducting investigation.
Hans India
4 days ago
- Business
- Hans India
SBI gets 4x bids for Rs 20,000-cr QIP
New Delhi: Qualified institutional placements (QIPs) witnessed a resilient growth in July so far, led by State Bank of India's (SBI) recent fundraise, taking the total QIP fundraising to a five-year high of over Rs30,000 crore. QIPs are a way for listed companies to raise capital without having to submit legal paperwork to market regulators. Ten issuances have offered over Rs30,470 crore so far this month. It is the biggest monthly performance of QIPs since September 2020, when companies had collectively raised over Rs39,000 crore. Driving this surge was the State Bank of India's (SBI) historic QIP on July 17, which mobilised over Rs20,000 crore. The offering drew robust investor interest, with demand reportedly outstripping supply by nearly four times. According to multiple reports, the SBI QIP has received significant interest from global and domestic investors worth around Rs1 lakh crore. July also saw a flurry of other notable QIP deals. CG Power raised over Rs3,000 crore, while Marathon Nextgen and Navin Fluorine collected Rs900 crore and Rs750 crore, respectively. Several other mid- and small-cap firms also tapped into institutional funding during the month. The fundraising momentum in 2025 has remained strong beyond July. In the year so far, Biocon raised Rs4,500 crore through a QIP, followed by Hitachi Energy (Rs2,500 crore), IREDA (Rs2,000 crore), UCO Bank (Rs2,000 cr), and Capri Global Capital (Rs2,000 cr). In June alone, seven companies together raised over Rs14,000 crore. Altogether, 30 companies have raised close to Rs60,000 crore via QIPs so far in 2025. This shows the robust activity seen in 2024, when 95 firms mopped up more than Rs1.37 lakh crore.
Express Tribune
5 days ago
- Express Tribune
HCs can't entertain factual inquiry: SC
The Supreme Court has stated that a high court, while exercising jurisdiction under Article 199 of the Constitution, cannot entertain matters requiring factual inquiry. "It is the prerogative and privilege of the trial court to examine such controversies so as to be disposed of on merit after taking into consideration the evidence led by the parties," said a five-page verdict authored by Justice Shakeel Ahmad. Justice Ahmed was part of a three-member bench — led by Chief Justice of Pakistan (CJP) Yahya Afridi — which heard pleas filed against an order of the Balochistan High Court (BHC) with regard to partial payment of the security amount paid by a contractor who built the BHC building in 1986. The Government of Balochistan's Construction and Works (C&W) Department had blacklisted the contractor in July 1991 on account of unsatisfactory performance and forfeited his security. The contractor filed a suit in a trial court which issued a judgment and a decree on May 4, 2006. However, due to failure on the part of the C & W department to release the security amount to him, he filed an application before the executing court for implementation of judgment of the trial court. The executing court dismissed the execution application on May 20, 2009, declaring that there is no mention of release of the security amount in favour of the contractor in the trial court order. The contractor filed a civil miscellaneous appeal to the BHC, which converted the appeal into a constitution petition and issued notice to the C&W department, directing it to submit details of the amount allegedly paid to the contractor. After making factual inquiry in this regard, the court on September 7, 2017 partly allowed the petition, directing the C&W Department to pay Rs20,12,668 to the legal heirs of the contractor — who had died by then — out of security amount within a period of thirty days. The legal heirs of the contractor were of the view that they were entitled to the total security amount — Rs68,67,668. Hence, they filed a civil petition in the Supreme Court. The C&W department was also unhappy with the BHC judgment and also filed a civil petition. The SC in its verdict noted that clause set out in the plaint reflected that the petitioner had not made any prayer for release of security amount. The C&W department also objected to the BHC order for release of the security amount, stating that it had already released the security to the contractor. It noted that the high court decided to get the matter examined by summoning official records and carrying out a full-fledged inquiry in presence of the parties. It said this exercise could not have been done in writ jurisdiction. "The scope and ambit of the proceedings before the high court, in the instant case, was limited to the extent of judgment and decree of the trial court and the order dated May 20, 2009, passed by the executing court, dismissing the execution application on the ground that the claim for recovery of the security amount mentioned in execution application was not decreed in favour of the contractor. "The high court has not attended to any of the above stated prayers and the judgment and decree passed by the trial court, and order of the executing court, and proceeded to decide the case after making a detailed inquiry. "Thus, in our view, the high court exceeded in its authority by passing the impugned judgment, calling for interference. In our view, the factual controversy raised by the parties can only be resolved after recording pro and contra evidence through a civil suit," it added. "[Therefore] the BHC judgment is set aside. The civil petition filed by the legal heirs of the contractor, seeking release of remaining security amount is dismissed and leave refused. "[The petitioners may] seek relief from the appropriate forum, if so advised, subject to all just and legal objections from the other side. No order as to costs," the order said.
