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AP News Summary at 10:00 p.m. ESTNorthwest B.C. First Nation identifies potential unmarked graves at former Lejac Residential School siteCEAT Kelani Holdings has broadened the scope of its flagship community initiative promoting road safety around schools by engaging with the Police and the Sri Lanka Corps of Military Police (SLCMP) of the Sri Lanka Army, two institutions that play lead roles in this domain. The company recently presented stocks of traffic management-related signboards and traffic cones to these institutions, as one of its community commitments that makes up the ‘CEAT Cares’ portfolio of community projects. The signboards and traffic cones presented to the Cinnamon Gardens Police Station are to be strategically placed on main roads to facilitate traffic management near schools, government institutions, and other high-traffic areas within the station’s jurisdiction, supporting CEAT’s efforts to help improve road safety and aid law enforcement maintain smooth traffic flows. Meanwhile, the signboards presented to the Military Police of the Sri Lanka Army will facilitate the SLCMP’s role in traffic control and ensuring safety during major national celebrations such as the Independence Day celebrations and national war heroes commemoration ceremonies, as well as events organised by the Sri Lanka Army. An articulation of CEAT’s credo – “Making mobility safer and smarter every day” – the CEAT Cares programme has been sustained by CEAT Kelani Holdings since 2010 and has benefitted 290 schools across the country to date. It involves the presentation of traffic safety equipment to schools located close to main roads and in high congestion zones as part of the company’s continuing commitment to make commuting safer, especially for school children. This flagship community initiative was designed to reflect CEAT’s focus on safety on the roads – a key element in all its products. The largest domestic manufacturer of cross-ply and radial tyres in Sri Lanka, CEAT Kelani Holdings currently manufactures half of the country’s pneumatic tyre requirements, and exports about 20 per cent of its production to 16 countries. The joint venture’s cumulative investment in Sri Lanka over the past decade alone exceeds Rs 8.5 billion.
Sukhbir Singh Badal, the former Deputy Chief Minister of Punjab and president of the Shiromani Akali Dal (SAD), is at the centre of attention after he survived an assassination bid by a pro-Khalistan sympathiser. Mr. Badal, who was found to be tankhaiya, or guilty of religious misconduct, was performing penance for his ‘mistakes’ at the Golden Temple, the central place for worship for the Sikhs in Punjab’s Amritsar, on December 4 when a former militant, Narain Singh, opened fire at him. The two-time former Deputy Chief Minister escaped unhurt as the assailant was overpowered by security personnel. On December 2, Akal Takht, the highest Sikh temporal seat, had pronounced religious punishment for Mr. Badal and several other Akali Dal leaders for the “mistakes” committed by the SAD government during 2007 to 2017. Sukhbir’s rise in politics was a foretold story. He became the youngest ever president of the SAD in 2008, after he took over from his father Parkash Singh Badal, the former Punjab Chief Minister. Born on July 9, 1962 in Punjab’s Faridkot, Sukhbir completed his school education at The Lawrence School, Sanawar, in Himachal Pradesh, and later completed MA (Economics) in Punjab University. He also has an MBA from California State University, Los Angeles. His political career kicked off in the late 1990s. Sukhbir firmed up his grip over the party by mid-2000. He stayed as Deputy Chief Minister from 2009-2017. He remained a member of the Lok Sabha four times, and served as Union Minister of State for Industry during 1998-99 in the Atal Bihari Vajpayee-led government. He was a member of the Rajya Sabha during 2001 to 2004. The Assembly elections in Punjab in 2012 proved a milestone in his political career as he was credited with steering the SAD–BJP alliance to a historic win, beating anti-incumbency sentiments. His agenda surrounding ‘development for all’ and making the SAD a ‘catch all party’ appeared to have paid favourable electoral outcome. However, in 2017, when the SAD-BJP alliance was voted out, the same agenda came under scrutiny, and senior party leaders started pointing fingers at Sukhbir’s leadership competency. After enjoying political dominance in Punjab for close to two decades, his journey started to witness new challenges amid controversies and a waning support. Election defeat Towards the end of its rule in the State, the SAD had to face severe criticism over several issues — including the pardon granted to Dera Sacha Sauda chief Gurmeet Ram Rahim in a blasphemy case and the Kotkapura-Behbal Kalan police firing incidents of 2015, which followed after the sacrilege of ‘Guru Granth Sahib’ at Bargari village. Two persons were killed in the police firing in Behbal Kalan of Faridkot district during protests. After the SAD’s dismal performance in the 2017 and 2022 Assembly elections, a sense among several senior (Taksali) leaders was that during the Akali Dal’s 10 years (2007-2017) of rule in Punjab, the party had come under the sway of the “Badal family”. Sukhbir’s attempt to change the basic character of the party, making it a “catch-all” party seeking votes in the name of the region (Punjab) instead of Sikh “panth” had not gone down well with many senior leaders, who felt that the party had deviated from its core ideology of giving voice to Sikh issues. Sukhbir’s acceptance of his “mistakes” and his plea for forgiveness from the ‘panth’ (the Sikh community) are being seen as a last-ditch effort to revitalise the party. In the recent Lok Sabha election, the SAD won only one seat out of the 13 parliamentary constituencies in the State. The loss was a grim reminder of the trouble that the SAD was facing, following its drubbings in the 2017 and 2022 Assembly polls. The immediate challenge before Sukhbir, who has tendered resignation as party president, which is yet to be accepted, would be to win back the faith of the ‘panth’. Many believe it could only be possible through his selfless actions towards the cause of the ‘panth’ and Punjab, not just through apology and ‘penance’. Published - December 08, 2024 01:57 am IST Copy link Email Facebook Twitter Telegram LinkedIn WhatsApp Reddit Punjab / The Hindu Explains / The Hindu ProfilesNoneDoes Channel One need turkeys and hams for the holidays?
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HUNTSVILLE, Texas (AP) — Jonah Pierce had 20 points in Presbyterian's 67-42 win against Youngstown State on Friday night. Pierce added nine rebounds for the Blue Hose (4-3). Kory Mincy scored 12 points, shooting 5 for 11, including 2 for 5 from beyond the arc. Kobe Stewart had 11 points and finished 4 of 9 from the field. The Penguins (2-3) were led by Ty Harper, who posted 12 points. EJ Farmer added 10 points and three steals for Youngstown State. Nico Galette also had five points. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .Giannis Antetokounmpo returns for Bucks after missing 1 game with knee swelling
Mumbai: Several large investors of Religare Enterprises Ltd (REL) have criticized the public interest litigation (PIL) filed by an investor that led the Madhya Pradesh High Court to indefinitely stay the company's upcoming annual general meeting. The investors disputed the premise of the writ petition filed by the individual named Vijayant Mishra, who argued that a takeover of Religare by the Burman family will concentrate the ownership of the company in the hands of a few, which is against the interests of minority shareholders. spoke with multiple investors, who collectively control about a tenth of Religare's total share capital. Also read | “This is a mockery of shareholders’ rights and shareholders’ democracy," said Umeshkumar Mehta, chief investment officer, Samco Mutual Fund. “Holding of the AGM has got nothing to do with RBI approval or open offer. AGM is an independent business matter," he said, adding that he was speaking on behalf of Samco fund house and not its promoters. Samco Special Opportunities Funds holds a 1.37% stake in Religare. Separately, Samco’s promoter Modi family owns an 8.19% stake in the company through two holding companies—Chandrakanta and Quick Trading and Investment Advisors LLP. Concentrated shareholding “Today also the shareholding is concentrated with the Burman family. If they make an open offer, minority investors can always say no to selling their shares. If such arguments are made then no takeovers can happen in India," said a senior executive at one of the large institutional investors of Religare, asking not to be named as they are not allowed to speak to the media on matters related to any specific security. “I am disappointed that I was not allowed to vote (at the AGM)," this executive said. The Burman family, the promoters of consumer goods maker Dabur India Ltd, control 25.12% stake in Religare through four holding companies. Also read | “Due to the PIL, the AGM has been delayed. This is not a good thing for shareholders; the share price has also fallen," said Sanjay Kaul, director at FE Securities Pvt Ltd, a Delhi-based brokerage which owns just over 0.02% of the company. Kaul argued that a takeover could be good for the company. “It is good to have a strong promoter. It could be anyone. Today, there is no shareholder director on the company’s board," he said. “It is odd for a high court to pass such an order against Sebi and RBI regulations. The order itself didn't have any compelling logic on why an AGM, that is outlined by the Companies Act, needed to be withheld," said Shriram Subramanian, the managing director of proxy advisory firm InGovern. HC's stay order A division bench of Chief Justice Suresh Kumar Kait and Justice Vivek Jain of the Madhya Pradesh High Court stayed Religare’s AGM till further notice in an interim order passed on 18 December. The AGM was scheduled for 31 December. On the agenda was a resolution seeking Rashmi Saluja's reappointment as a director on the company’s board, which would decide her future at the firm. Two leading proxy advisory firms have asked investors to vote against a fresh term for Saluja, arguing, among other things, that the takeover battle could distract the company’s board. The AGM was originally scheduled for September, but was deferred by three months earlier this year after the company approached the Registrar of Companies seeking a postponement. The deferment was challenged by the Burmans in the Delhi High Court. Also read | Samco’s Mehta said the investment firm will write to relevant regulators to take appropriate steps in the interest of minority shareholders. The episode makes a case for further strengthening of the takeover regulations in India, he said. “All options are open; we will discuss in our board meeting and take appropriate steps if there are inordinate delays in normalization of the functioning of REL," he said. Religare Enterprises and the Burman family did not respond to queries. Mint could not reach Vijayant Mishra for comment. The takeover battle Religare’s management, led by chairperson Saluja and the Burman family, the company’s largest shareholders, are at loggerheads after the latter made a takeover bid for the company. The Religare board, which initially supported the takeover, has since rejected the open offer citing low valuation and calling the Burman family not fit and proper to run a financial services firm. The Burmans had announced their open offer on 25 September 2023 at 235 per share, which was at a discount to the stock’s previous closing prices of 272.45 back then. The two sides exchanged allegations and filed multiple lawsuits over the past 15 months as the takeover battle turned bitter. Also read | A fourth executive, representing a family office that is among the largest investors of Religare, said that if the board was against the takeover, they shouldn’t have initially supported it in September 2023. “We took it as a positive sign and bought into the company," this executive said, requesting not to be named. “Now everybody is thinking about themselves and neglecting the company." RBI, Sebi green light Earlier this month, the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (Sebi) separately gave their nods to the Burman family to make an open offer for acquiring an additional 26% stake in Religare, clearing the path for their takeover of the company. Earlier, the Insurance Regulatory and Development Authority (IRDA), the Competition Commission of India (CCI) and the stock exchanges also approved the open offer. However, in his petition, Mishra argued that if the open offer was allowed to go ahead, it will concentrate the control in the hands of 399 persons, defeating the interests of 73,623 minority investors holding shares worth up to 2 lakh, as per the court’s interim order. This category owns 10.38% of the company. Also read | Mishra has requested the court to set up an independent commission of enquiry to oversee and acquisition. The case is expected to be listed again on 17 January. “It is odd for a high court to pass such an order against Sebi and RBI regulations. The order itself didn't have any compelling logic on why an AGM, that is outlined by the Companies Act, needed to be withheld," said Shriram Subramanian, the managing director of proxy advisory firm InGovern. “Any acquisition will have one or two acquirers and the consolidation of shareholders, that's how the market works."AP Trending SummaryBrief at 9:18 p.m. EST
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