Aarohi Blog

At least 12 persons, including minors and an on-duty policeman, lost their lives during immersion ceremonies on Anant Chaturdashi , marking the end of the 12-day long Ganeshotsav celebrations throughout the state on Tuesday, officials said. Four persons drowned in the Indrayani river in the twin cities of Pune and Pimpri-Chinchwad, three in Aurangabad, two in Jalgaon and one each in Nashik and Beed during the day as thousands of the gigantic, large, medium and small idols of the popular elephant-headed god, Lord Ganesha, were taken out for immersions in various water bodies. In Mumbai, an Assistant Sub-Inspector who was posted on Ganeshotsav duty at Lalbaug in Parel, suddenly collapsed and died. Further details were awaited.One person was reported to be missing in Indrayani river in Pune and a search is on to trace him, officials said.Earlier in the morning, idols of Lord Ganesha were taken down from their pedestals amid chanting of the "Udvasana Mantra...

Two companies -- Dixon Technologies and Bharat Road Network -- are headed to the market with their initial share sale offers this week to raise an estimated Rs 1,200 crore.The IPOs of both will be open for subscription during September 6-8.Dixon Technologies, a consumer electronics manufacturer, has fixed a price band of Rs 1,760-1,766 per share for its initial public offering (IPO), through which it aims to raise about Rs 600 crore. The offer comprises fresh issue aggregating up to Rs 60 crore besides an offer for sale of up to 30,53,675 shares by certain existing shareholders.At the upper end of the price band, the issue is expected to raise about Rs 600 crore.Proceeds from the issue will be utilised for setting up a unit for manufacturing of LED TVs at the Tirupati facility, enhancement of backward integration capabilities in the lighting products vertical at Dehradun facility and upgradation of the information technology infrastructure. Besides, the funds will be used fo...

Investors India and the United States recently signed a tax information sharing agreement that will facilitate exchange of information between the two countries, beginning October. Foreign Account Tax Compliance Act (Fatca) was enacted by the US government in 2010, as part of the Hiring Incentives to Restore Employment (HIRE) Act. Fatca requires all foreign financial institutions (FFI) to report information about financial accounts held by the US taxpayers (US citizens and US tax residents) to India's Central Board of Direct Taxes (CBDT), which, in turn, will share the information with the US Internal Revenue Service (IRS). Fatca even makes it mandatory for CBDT to share information about earnings of non-resident Indians (NRIs) located in the US from sources in India to the IRS. Fatca covers the entire banking value chain of the US clients with offshore accounts and requires a new and extended information and reporting system. It is the obligation of the individual to...

  The Supreme Court on Tuesday agreed to hear IDBI Bank's plea seeking modification of its order staying insolvency proceedings against embattled real estate firm Jaypee Infratech on September 11.A bench comprising Chief Justice Dipak Misra and Justices Amitava Roy and A M Khanwilkar considered the submission of the bank that staying the order of the National Company LawTribunal (NCLT) in Allahabad had reversed the position and, as a consequence, the company had gone back to defaulting promoters.Senior advocate A M Singhvi, appearing for the bank, said the Jaypee group was in charge of the company again because of Monday's apex courtorder.Also read: Insolvency: As builders like Jaypee go under, govt looks to ease homebuyers' pain.The bank's money is also public money and we are seeking modification of that order, he said. Senior advocate Ajit Sinha, appearing for one of the home buyers, vehemently opposed the contention of the bank and said home buyers were h...

  Japanese yen - Monday as North Korea latest nuclear test provoked the usual knee-jerk shift to safe havens, though equity losses were modest amid expectations the flare-up would prove fleeting.The dollar was marked down as deep as 109.22 yen at the opening, off a whole yen from late on Friday, but there was no follow-through selling and it was last at 109.84. Japan is the world's largest creditor nation and traders tend to assume Japanese investors would repatriate funds at times of crisis, thus pushing up the yen. Many wonder, however, if Japanese assets would really remain in favour if an actual war broke out in Asia.Japan's Nikkei did not take the news well, losing 0.9 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.4 per cent with South Korea's main index down 0.6 per cent. "Like a bad horror movie, the North Korea saga intersperses moments of calm, with occasional action to jolt you out of your chair," sa...

US President Donald Trump and Japanese Prime Minister Shinzo Abe today condemned North Korea for its "provocative and destabilising" behaviour, after the reclusive nation carried out its biggest nuclear test.North Korea claimed yesterday it had successfully tested a hydrogen bomb meant to be loaded onto an intercontinental ballistic missile. It was Pyongyang's sixth, and the most powerful nuclear test, which was set to raise tension in the region. The White House said that the two leaders spoke over phone to discuss the North Korean actions as they pledged to continue "close cooperation"."The two leaders condemned North Korea's continued destabilising and provocative actions, confirmed the two countries' ironclad mutual defence commitments, and pledged to continue close cooperation," the White House said in a readout of the call. During the call, Trump reaffirmed the commitment of the United States to defending its homeland, terri...

Eid al-Adha 2017 : 1.7 million Muslims have gathered this year in the holy city of Mecca in Saudi Arabia for the annual pilgrimage – the hajj. The five-day pilgrimage is a once-in-a-lifetime obligation for all Muslims who have the physical and financial ability to undertake the journey. Millions of Muslims from diverse countries such as Indonesia, Russia, India, Cuba, Fiji, the United States, Nigeria and others congregate in Mecca during the last month of the Muslim lunar year.Pilgrims wear plain, white garments. Men drape seamless, unstitched clothing and women dress in plain white dresses and headscarves. The idea behind dressing simply is to mask any differences in wealth and status. The pilgrimage is considered the fifth pillar of Islamic practice (the other four being the profession of faith, five daily prayers, charity and the fast of Ramadan). In calling Muslims to perform the hajj , the Quran says,“Proclaim to men the pilgrimage: they will come to thee on foot and ...