Latest news with #SPC
Korea Herald
4 days ago
- Business
- Korea Herald
Hybe chairman referred to prosecution over alleged unfair trading
Financial authorities on Wednesday referred Bang Si-hyuk, chairman and founder of K-pop powerhouse Hybe, to the prosecution over alleged fraudulent securities transactions related to the company's listing, officials said. The Securities and Futures Commission under the Financial Services Commission decided to forward the complaint against Bang and three former Hybe officials for their alleged violation of the Capital Markets Act regarding the company's initial public offering. Bang is accused of misleading investors, including venture capital firms, in 2019 into believing that Hybe's IPO would be delayed and inducing them to sell their shares to a special purpose company (SPC) established by a private equity fund created and funded by Hybe executives. Investors sold their shares to the SPC, but financial authorities determined that Hybe was, at the time, already in the process of preparing for its listing. After the company went public, the SPC sold its shares, and Bang reportedly received 30 percent of the profit from the share sale in accordance with a prior shareholder agreement. "We plan to actively cooperate with the prosecution's investigation to thoroughly uncover the allegations surrounding this high-profile case," the SFC said. "Any violations found will be thoroughly investigated and strictly punished." Hybe earlier apologized for the allegations related to the IPO process, while claiming that the listing was carried out in compliance with relevant laws and regulations. (Yonhap)
Gulf Today
4 days ago
- Business
- Gulf Today
‘From Sharjah, We Begin' podcast training starts
The seventh edition of 'Ithmar,' a youth media training programme by the Sharjah Press Club (SPC), launched on Monday with a renewed focus on podcasting as a creative platform for young voices. This year's edition targets children and teenagers aged 10 to 15 who have an interest in media communication and audio storytelling. As part of the programme, participants will develop and produce episodes for a new podcast titled 'From Sharjah, We Begin,' with ideas generated during interactive brainstorming sessions held before the start of the programme. This allows participants to shape the direction and content of the podcast. Running until July 24, the initiative aims to build self-confidence, strengthen local identity, and develop participants' communication and public speaking skills. The youth will work together to produce podcast episodes that are age-appropriate and content-driven, while following a structured production timeline. This initiative offers a hands-on training platform that enables young participants to express their ideas and experiences in a professional media format. Alia Al Suwaidi, Director of the Sharjah Government Media Bureau (SGMB), stressed the importance of equipping children and youth with media skills, especially through tools that reflect how the industry is evolving. She said that preparing the next generation and enabling them to engage in practical experiences, such as podcasting, is a key step in helping them express themselves professionally and responsibly. Al Suwaidi noted that Ithmar is part of SGMB's wider efforts to support emerging talent by introducing them to platforms that allow for self-expression and skill building in a supportive environment. The seventh edition, she added, builds on the outcomes of previous editions, with a particular emphasis on audio media, which has become an increasingly important space for positive influence. Al Suwaidi said that involving children in podcast production gives them a real-world experience in creating content that reflects their realities and is relevant to their communities. The first week of training covers a range of voice and presentation skills, including microphone confidence, tone control, clarity in pronunciation, and storytelling. Participants also practise news reading, podcast introductions, and the difference between live recording and edited audio. Sessions include exercises on using positive, expressive language and engaging listeners through sound. Later in the week, participants move into interview techniques, active listening, and on-camera presence, with a full podcast simulation to close out the week. By the end of the programme, participants are expected to understand how to take an idea from concept to final recording and to work as a team to produce a complete podcast episode. SPC continues to update and expand the 'Ithmar' programme to meet the interests of young people, providing them the tools to take part in shaping the future of media locally and internationally. Earlier, the inaugural week of the second edition of the 'Arab Podcast Programme,' a pathbreaking initiative organised by the Dubai Press Club, witnessed a distinguished group of content creators and industry experts from across the Arab world sharing their insights with enthusiastic Arab youth eager to carve a niche within the fast-evolving digital media realm of podcasting. The accent on enabling young participants to find their feet as audio content creators – with established professionals sharing their creative vision, expertise, and technical knowledge – underscores the rapid growth of this vital sector and the increasing interest in podcasting as an influential and innovative media platform aligned with the trends of modern media. Launched on July 7 at the Dubai Press Club, the Arab Podcast Programme features five weeks of intensive training under the supervision of Charbel Issa, a certified trainer on Podeo, a leading podcasting platform in the Middle East and North Africa region. The training sessions are designed to offer participants a clear idea of fundamental concepts while they gain new skills through hands-on practical training modules. Hosting the second edition of the Arab Podcast Programme is part of the Dubai Press Club's sustained efforts to promote the growth of the Arabic podcasting industry and contribute to the development of a dynamic and evolving digital media landscape across the region. The initiative aligns with the rapid changes being witnessed in terms of digital content consumption patterns and aims to support a more active and influential Arab presence in one of the fastest-growing media segments worldwide.
The Hindu
4 days ago
- Politics
- The Hindu
Kerala Home department endorses SPC's report on Thrissur Pooram ‘disruption' controversy
The Kerala Home department has reportedly endorsed the then State Police Chief's (SPC) report which states that a sequence of preventable oversights on the part of the State law enforcement and certain sections of the temple management contributed to the widespread public dissatisfaction over the conduct of the iconic Thrissur Pooram ahead of the Lok Sabha elections in 2024. The State Cabinet had ordered the then SPC Sheikh Darvesh Saheb to conduct a multi-tiered probe into the alleged Thrissur Pooram 'disruption'. It brought the then Additional Director General of Police, Law and Order, M. R. Ajith Kumar, who was the highest-ranking officer at the festival venue, under the investigation's ambit. According to official sources, Home Secretary Biswanath Sinha 'made a note recommending appropriate action' on the SPC's report and forwarded it to the Cabinet. However, the officials said they were unsure whether the report pointedly blamed Mr. Ajith Kumar for the 'policing flaws'. The Thrissur Pooram 'disruption' controversy rapidly acquired a political dimension during the heat of the Lok Sabha election campaign. The Congress, the Communist Party of India (CPI) and Bharatiya Janata Party (BJP) later faulted the State police for 'botching' the festival. Subsequently, Revenue Minister K. Rajan, who is in charge of Thrissur district and was actively involved in the festival's conduct, seemed to tacitly endorse the CPI's accusation by stating that a top-ranking official in charge of the festival's security, crowd control, fireworks, public safety, emergency response and traffic management did not respond to his urgent calls. Public opinion 'hit' ahead of polls Later, the Congress and the CPI alleged that the festival's 'disruption' had adversely impacted public opinion and paved the way for the BJP's resounding win in the Thrissur Lok Sabha constituency. Both parties signalled a conspiracy allegedly involving a ranking officer and the Rashtriya Swayamsevak Sangh (RSS) leadership to bolster the BJP's chances of bagging the Thrissur seat. According to officials, the SPC's report blamed administrative, planning and law enforcement 'blind spots' for the 'brief discontinuance' of the festivities. They said the SPC's investigation possibly side-stepped the political controversies centred around the issue and focussed more on providing a roadmap for the festival's smooth conduct. The SPC also reportedly emphasised the need for stakeholders, including the Thiruvambady-Paramekkavu Devaswoms and the district administration, to reach a consensus on sensitive matters such as crowd control, road closures, vehicular and pedestrian traffic management, fireworks, and elephant processions, rather than making arbitrary and impromptu decisions that cause unnecessary friction.
Time of India
4 days ago
- General
- Time of India
TN unveils action to improve learning outcomes in schools
Chennai: Headmasters and teachers of govt and aided schools will soon need to change their teaching strategies, with the govt releasing school and student-wise results of the State-level Achievement Survey (SLAS) 2025. Held under the guidance of the state planning commission (SPC) for students of Classes III, V, and VIII in 2025, school, student and district-wise results have been shared with the respective block, chief, and district education officers. According to the SPC findings, students of govt and govt-aided schools in Chennai and its suburbs have fared poorly in reading, comprehension, and mathematics compared to the rest of the state. In a release, the govt has asked authorities to ensure that schools improve their performance. "CEOs and DEOs should conduct inspections three days a week and hold meetings with the HMs. BEOs must visit schools under their jurisdiction four days a week," the circular read. "We drafted an action plan and are looking to intensify efforts to train teachers in collaboration with district institutes of industrial training. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Akron: Here's The Average Price of a 6-Hour Gutter Upgrade Read More Undo Teachers will be encouraged to alter their methods to help students connect with the subject. Moreover, efforts will be made to clamp down on absenteeism in schools." Chennai CEO A Pugalendhi told TOI. You Can Also Check: Chennai AQI | Weather in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai Asked why Chennai's average was less than the state's in all subjects surveyed for all the classes, Pugalendhi added: "With the expansion of the Greater Chennai Corporation (GCC), several other govt and aided schools from outer areas were brought under our purview. It will take some time to train the students and make them fall in love with the subjects" In some other districts, a meeting will be held this week comprising CEOs, BEOs, and HMs of low-performing schools. "The role of every individual authority will be discussed, and steps will be taken to ensure they are implemented. Efforts will be made to ensure the focus is on each school and every low-performing student…," says Tamizhselvi, DIET principal, Kancheepuram.
Time of India
5 days ago
- Business
- Time of India
ED files second supplementary complaint against Unitech Group promoters in money laundering case
NEW DELHI: The Enforcement Directorate (ED) has filed its Second Supplementary Prosecution Complaint (SPC) before the Special Court under the Prevention of Money Laundering Act (PMLA) on July 10. The complaint has been filed against Ramesh Chandra and others, including several companies, namely M/s Shivalik Ventures Private Limited, M/s Auram Asset Management Private Limited, M/s Unitech Build Tech Limited, M/s Unitech Golf Resorts Limited, and M/s Ranchero Services Limited. This filing is part of the ongoing investigation into large-scale financial irregularities and money laundering involving Unitech Limited and its directors. The ED initiated its probe on the basis of FIRs registered by the Central Bureau of Investigation (CBI) and Delhi Police under various sections of the Indian Penal Code (IPC), 1860, and the Prevention of Corruption Act, 1988. The accused include Unitech promoters Ramesh Chandra, Sanjay Chandra, Preeti Chandra, Ajay Chandra, and other individuals and entities. This supplementary complaint is a critical part of a broader investigation into the alleged defrauding of over 29,800 homebuyers. These homebuyers had invested their life savings into various housing projects floated by Unitech Limited. According to the ED, the promoters, in collusion with associates, engaged in a massive criminal conspiracy to divert and launder these funds. Despite collecting vast sums from buyers, no possession of flats was given, even after the promised timelines expired. The ED has uncovered that out of Rs 16,075.89 crore collected from homebuyers and financial institutions, around Rs 7,794.35 crore was siphoned off by Unitech for unauthorised purposes. The investigation points to Ramesh Chandra and his family's involvement in diverting funds into various benami firms and personal concerns through multiple fraudulent methods. These methods included acquiring shares of companies at inflated prices, diverting money to entities like Carnoustie Management Pvt. Ltd. and the Shivalik Group, and misusing venture capital funds such as CIG Realty Fund-I, II, and IV. The agency also found evidence of complex international fund layering, where the proceeds of crime were routed through the UAE, Cayman Islands, and Singapore using a network of shell companies under the Trikar Group, before being brought back into India. Moreover, the ED highlighted that proceeds of crime were also used to purchase personal assets abroad, including three flats in Dubai acquired by Preeti Chandra through diverted funds. To date, the ED has identified proceeds of crime worth Rs 1,621.91 crore, and attached 1,291 properties through 21 Provisional Attachment Orders (PAOs)--all of which have been confirmed by the Adjudicating Authority. With this second supplementary filing, the total number of individuals and entities arraigned by the ED now stands at 105, spread across three prosecution complaints (one original and two supplementary). The Special Court (PMLA), New Delhi, has fixed July 31 as the date for consideration of the chargesheet filed by the Enforcement Directorate.
