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SEBI tightens consent order norms news

The Securities and Exchange Board of India (SEBI) has tightened its procedures and decided not to pass consent orders in case of defaults, including insider trading, front running and failure to make an open offer. Modifying its April 2007 circular, which provides the framework for passing of consent orders and for considering requests for composition of offences,According to SEBI it will not initiate the consent process in case of very serious offences. These also include failure to redress investor grievances and failure to respond to summons issued by the market regulator.

Bharti buys 49% in Qualcomm unit

The country’s largest mobile phone operator Bharti Airtel has acquired a 49% stake in US-chipmaker Qualcomm’s Indian unit holding 4G broadband wireless licences for $165 million (Rs 924 crore).

The deal involved Bharti buying a 26% stake equally held by Global Holding Corporation and Tulip Telecom apart from subscribing to fresh equity. Bharti gets access to Qualcomm’s broadband licences in four circles, including the two major regions of Mumbai and Delhi. The telco already had 4G permits in four circles of Kolkata, Karnataka, Punjab and Maharashtra . It recently rolled out 4G services in Kolkata and Bangalore. Barclays Capital advised the San Diego-based Qualcomm on the deal.

Ace photographer Rajamani dead

Veteran photographer V.K. Rajamani passed away. He was 77. In a career spanning more than five decades, he not only captured the architecture of South Indian temples, but also dancers.

Webber Wins Monaco Grand Prix

Mark Webber won the Monaco Grand Prix . Made Formula One history, while Fernando Alonso took a narrow lead in the championship. Webber started from pole position, is the sixth different driver to win in the opening six races of the season, a first for F1.

DRDO test-fires two Akash missiles

The DRDO test-fired two surface-to-air ‘Akash’ missiles from the Integrated Test Range at Chandipur. While one test was successful, data for the other is still being analysed.

Cannes Film Festival

The 65th annual Cannes Film Festival was held from May 16 to May 27, 2012 . Italian film director Nanni Moretti was the President of the Jury for the main competition and British actor Tim Roth was the President of the Jury for the Un Certain Regard sect

* Palme d’Or (Best Film) – “Love”/Amour (Austria) by Michael Haneke

* Grand Prix (Runner-up) – “Reality” (Italy) by Matteo Garrone

* Jury Prize (Third Prize) – “The Angels’ Share” (Britain) by Ken Loach

* Camera d’Or (Debut Film) – “Beasts of the Southern Wild” (U.S.) by Benh Zeitlin

* Best Director – Carlos Reygadas for “Post Tenebras Lux” (Mexico)

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* Best Screenplay – “Beyond the Hills” (Romania) by Cristian Mungiu

* Best Actress – Cosmina Stratan and Cristina Flutur in “Beyond the Hills”

* Best Actor – Mads Mikkelsen in “The Hunt”

Viswanathan Anand wins 2012 World Chess Championship

Viswanathan Anand won World Chess Champion 2012 . He defeated Boris Gelfand in the final match . Indian Grandmaster Viswanathan Anand beat challenger Boris Gelfand of Israel in a tense rapid chess tie-breaker to win the World Championship crown for the fifth time and fourth in a row. He hold the title from Mexico 2007, Bonn 2008, and Sofia 2010.

India’s GDP growth slumps to 6.5 pc in 2011-12

India’s growth has hit a three-year low with the GDP growing at just 6.5 per cent in 2011-12, as compared to an impressive 8.4 per cent in the previous fiscal. The GDP growth in the January-March quarter, 2011-12, was just 5.3 per cent compared to 9.2 per cent in the same period in 2010-11.

The main culprit, as has been for the past few quarters, was the manufacturing sector which, along with the farm segment, fared dismally and dragged down the economic growth rate for 2011-12 to 6.5 per cent. At this level, it is not only way lower than the 8.4 per cent GDP growth achieved in 2010-11 but also marks a downward revision from the 6.9 per cent expansion estimated earlier for the fiscal year by the Central Statistical Organisation (CSO). The scale-down in growth rate for 2011-12 to 6.5 per cent — the lowest since 2002-03 when the economy grew by four per cent — disappointed both the government and the industry but came as no surprise as indications of a steady slowdown have been there for quite some time.

Kevin Pietersen retires from ODIs, T20s

England batsman Kevin Pietersen has decided to retire from international limited-overs cricket with immediate effect. A press release from the England and Wales Cricket Board confirmed Pietersen’s decision

Vidya Balan receives Prabha Khaitan Puraskar

Actor Vidya Balan was awarded the Prabha Khaitan Puraskar 2012 from the Calcutta Chamber of Commerce. Prabha Khaitan, a former president of the chamber started this award in 1992 with an aim to empower women.

Bikram Singh assumes charge as new Army chief

Gen Bikram Singh, a veteran infantry officer took over as the 25th Chief of the Indian Army succeeding Gen V K Singh whose 26-month tenure was mired by controversies. 59-year-old Gen Bikram Singh will have a tenure of two years and three months in the top post.

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Odisha sand artist Sudarshan Pattnaik wins international award

Internationally acclaimed sand artist from Odisha Sudarshan Pattnaik has been won the Copenhagen sand art Championship- 2012.

New Zealand Win Sultan Azlan Shah Cup

New Zealand won Sultan Azlan Shah Cup for the first time after beating Argentina 1-0 in the final. New Zealand which finished third four times (1995, 2003, 2008 and 2009) while Argentina won the hockey tournament in 2008. India defeated Great Britain, 3-1 to secure the bronze medal at the Sultan Azlan Shah hockey tournament.

2012

The 2012 Indian Premier League season, abbreviated as IPL 5 or the IPL 2012 or the DLF IPL 2012, was the fifth season of the Indian Premier League, initiated by the Board of Control for Cricket in India (BCCI) in 2007 with the first season played in 2008. The tournament began on 4 April and ended on 27 May 2012. were the winning team, beating defending champions by five wickets in the final. This season the number of teams in the league went from ten to nine with the termination of Tuskers .

Winners Kolkata Knight Riders

Runners-up Chennai Super Kings

Third place Delhi Daredevils

Fourth place

The IPL offers a total 25 Cr prize money.

 Champions: 10 crore

 Runner-up: 7.5 crore

 Third place: 3.75 crore

 Fourth place: 3.75 crore

 No prize money for remaining teams

Most runs Suresh Raina (2101, Chennai Super Kings)

Most wickets Lasith Malinga (81, Mumbai Indians)

Pakistan test fires Hatf VII

Pakistan successfully test fired the nuclear-capable Hatf-VII cruise missile with a range of 700 km, the latest in a series of tests of missiles that can hit targets deep within India. This was the fifth missile test by Pakistan since late last month.

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Annual plan outlay fixed at Rs 10,500 cr

The Planning Commission approved Assam’ Plan outlay of Rs 10,500 crore for the current fiscal which is over 16 per cent higher than the outlay for the previous fiscal. The state has proposed an outlay of Rs 14,537.33 crore for the current fiscal.

B.V. Kakkilaya passes away

Freedom fighter and veteran Communist leader Bevinje Vishnu Kakkilaya died of brain haemorrhage. He was 93 years old. He was a member of the Rajya Sabha for two years representing the Madras Province and an MLA in the Karnataka Assembly for two terms. Mr. Kakkilaya led many agitations against injustice to farmers and labourers and played a key role in building the Communist Party of India and its students’ wing, the All-India Students’ Federation in the State. He was the secretary of the Karnataka State committee of the CPI.

Vice Admiral D.K. Joshi named new Navy Chief

Vice Admiral Devendra Kumar Joshi, Western Naval Command chief and a specialist in anti-submarine warfare, was named as the new Navy Chief to succeed Admiral Nirmal Verma whose tenure ends on August 31. He will have a three-year tenure. Joshi has commanded the tri-services Andaman and Nicobar Island command and also headed the Integrated Defense Staff headquarters in New Delhi. He also commanded the -based Eastern Fleet of the Navy.Commissioned in 1974, the Vice Admiral has commanded the aircraft carrier INS Viraat, Guided-missile Destroyer Ranvir and corvette INS Kuthar.

RBI removes penalty on prepayment of home loans

The Reserve Bank of Bank (RBI) issued notification to all banks for not charging any foreclosure/prepayment penalties on floating rate home loans. This move brings cheers among home loan borrowers . They can now take advantage of better credit pricing in a perfectly competitive banking industry.