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C M Y K # RNI Regn. No. MPENG/2004/13703, Regd. No. L-2/BPLON/41/2006-2008 )* # !'+,## %!#(++-.+/0!'&+,## ,7!"!/.+/0!'&+,## ,./,/0 +,-)) $$%&'()* ! "#$%&' ( &) 2 36 *4 2 5 * 1 2 ( "()%*')+ +)%# ! +)!"+ 4 1 * 1* 325 * 3 * *2 34* # )%!,)+ +)"% )*' + !"# ! % &&'!('# ! ""#$% "&'(# - -. QR ! " of the board and management prayer to reconstitute the board asset sales, restructuring of some Group, which has assets of 241 (2), 242 of the Companies control of the company. of IL&FS, observing that the liabilities and a fresh infusion of 1.15 lakh crore, is presently Act and to declare that the he Government on Kotak was named as non- company's affairs were being funds by investors and lenders facing tremendous debt pres- affairs of IL&FS were being Tibetan card to its disadvan- TMonday seized control of executive chairman of the new conducted in a manner "prej- to prevent defaults. sure and struggling to service conducted in a manner preju- tage. India has barred the entry debt-trapped Infrastructure board. The other directors udicial" to the public interest. "The confidence of the around 91,000 crore in debt dicial to the public interest," the of the Karmapa to Rumtek Leasing & Financial Services approved by the NCLT are The Finance Ministry in a financial market in the credi- which is the outcome of its bench said. monastery, the biggest Ltd (IL&FS), superseding its retired IAS officers Malini statement said the Government bility of the IL&FS manage- "mismanaged borrowings in The Government said in its monastery of the Kagyu sect board with one led by India’s Shankar and Vineet Nayyar, found "serious corporate relat- ment and the company needs the past". plea said that it had chosen to that he heads fearing him to be richest banker Uday Kotak, and veteran auditor ed deficiencies" in the IL&FS to be restored," the Finance Before the NCLT, the intervene as it impacted the a Chinese agent. Earlier, he was and vowed to stop further loan Nandkishore. holding company and its sub- Ministry said. Government said the IL&FS entire nation's economy. not allowed to even visit defaults. The move to take over sidiaries and has ordered an The Government, it said, directors had failed to dis- The Government cited the Sikkim, but the NDA This is only the second IL&FS followed its recent SFIO (Serious Fraud had approached the NCLT charge their duties and that precedence of the 2009 Government had changed the time after Satyam Computer defaults roiling Indian markets. Investigation Office) probe into after it was convinced that the many mutual funds would col- takeover of erstwhile Satyam rules in 2017. Services Ltd that the "The Government stands the alleged financial irregular- governance and management lapse if the company collapses. Computers and urged the n a major setback to India, The Karmapa and CTA Government has taken control fully committed to ensuring ities in the NBFC. change in IL&FS Group is very There were concerns that bench to invoke the jurisdiction Ithe 17th Karmapa Ogyen have ostensibly colluded to side- of a private company board. that needed liquidity is "The restoration of confi- necessary for saving it from default by a large NBFC like of Sections 241(2) and 242 of Trinley Dorje (32), who has line the Dalai Lama, the tallest The Government in 2009 arranged for the IL&FS from dence of the money, debt and "financial collapse". IL&FS would create liquidity the Companies Act, 2013. fled to the US, is now negoti- leader in the Tibetan Buddhism superseded the board of the financial system so that no capital markets, the banks and "Continuance of the present crunch in the financial markets. The sections provide for ating with the Indian hierarchy, sources said. Satyam. The Mumbai-bench of more defaults take place and financial institutions in the Board had become prejudicial to Approving the immediate the Union Government to Government interlocutors for The Karmapa is staying at National Company Law the infrastructure projects are credibility and financial sol- the interests of the company and takeover of the IL&FS board by approach the NCLT, and the parity of status with the Dalai sprawling farmhouse of a Tribunal (NCLT) approved six implemented smoothly," the vency of the IL&FS Group is of its members and this manage- six Government nominees, an tribunal to pass orders to reg- Lama and permission to visit Chinese couple in New Jersey directors, including Kotak Finance Ministry said in a utmost importance for the ment was affecting public inter- NCLT bench of judges MK ulate the affairs of a company, the Rumtek monastery in from April 2017 onwards. Mahindra Bank MD Uday statement in New Delhi. financial stability of capital est because of its adverse impact Shrawat and Ravikumar respectively, in a case where the Sikkim. India has given polit- Although the Karmapa has Kotak, former SEBI chairman "Restoration of confidence" and financial markets. There is on financial stability and mak- Duraisamy said that the sus- affairs of such company were ical asylum to the Dalai Lama hinted at least twice that he will GN Bajpai and ICICI Bank across markets and the finan- an emergent need to immedi- ing capital markets so adverse- pended directors of IL&FS not in public interest. but the Karmapa was living on come back to India but he has chairman GC Chaturvedi, to cial system in IL&FS group "is ately stop further financial ly affected," the Ministry said must henceforth cease to rep- Taking note of the a refugee card. The Karmapa is not returned despite repeated takeover the IL&FS board. of utmost importance for the defaults and also take measures adding its prayer before NCLT resent the company anywhere. Government's arguments, the reportedly acting at the behest assurances to the Indian offi- This followed the Ministry financial stability of capital to resolve defaulted dues to the was to supersede the board of "After considering the bench held in its interim order of the Central Tibetan cials. He has not specified a of Corporate Affairs moving and financial markets". claimants," it said. IL&FS and its substitution by the Government's case, we are of that the present case was a fit Administration (CTA) and his timeline and does not have any NCLT against IL&FS and its The NCLT allowed the The company would require new Board of Directors. the view that prima facie, this one to invoke the jurisdiction stand has irreversibly altered intention to return to India, subsidiaries, seeking a change Union Government's interim a combination of measures like The Ministry said IL&FS is a fit case to invoke Sections of the above sections. over six decades long India’s Government sources said. %&' P ) # ! P fund immediately. Yogi also said victim's hief Minister Yogi widow Kalpana Tiwari will CAdityanath finally met the also be given a job, as per her tim stated that she was at the the five accused used to come victim's family members on qualification, in Nagar Nigam. terrace of the building when at any point of time of the day Monday and assured all help, Though errant constable 19-year-old married the main accused Lokesh came and would sexually assault including monetary support Prashant Chaudhary and his Awoman of Jhansi was and started to talk with her her and before leaving the and a Government job, to colleague Sandeep Kumar were gang-raped by five persons at later she lost conscious and room they would lock her widow of Apple area manager arrested and sacked amid PC Nagar in the past two when she regained conscious inside the room. She told the Vivek Tiwari, 38, of waves of public outrage, in a weeks. The Habibganj police she found herself inside a police that the room was Mahaanagar who was shot latest development a voice of have nabbed the five accused room. owned by Vishal who was one dead by trigger-happy cop for dissent has seemingly started to involved in captivating and Later the five accused used of the accused. allegedly refusing to stop his set in among the lower rungs sexually assaulting the vic- to assault her for the next 15 The victim came to her SUV for checking in Gomti cops of Uttar Pradesh police tim. days and she only managed to maternal grandmother after Nagar Extension area in the with several of constables and A complaint was lodged escape after the neighbours having a dispute with her hus- early hours of Saturday. Sub Inspectors expressing sup- on Sunday after she reported informed the police. band few days after the mar- The State Government port to the accused constables the incident. Police said that She reported the incident riage. announced 25 lakh for the and contributing money to the victim had come to her rel- to her family and later case was Based on the complaint family and 5 lakh each for the him to defend himself in court. ative’s house at PC Nagar BDA reported with the Habibganj after the preliminary investi- education of Tiwari's daugh- Arguing that the accused EWS building where she was police. gation the police have regis- ters. Another 5 lakh was also constables were doing their held captive by the main The five accused were tered a case under section given for his elderly mother. duty as per the instruction of accused who lives in the same identified as Manish, Lokesh, 366, 344, 376 (2) (n), 506 and The CM asked the district their bosses and Prashant building. Vishal, Golu and Chetan. 34 of the IPC and started fur- ! # $ # administration to release the opened fire in self defense.

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