India
Ex-NSE CEO Chitra Ramakrishna is being investigated
The Income Tax Department conducted searches at the Mumbai apartment of former National Stock Exchange CEO Chitra Ramakrishna on Thursday, in a significant step. The raid came only days after SEBI fined her for revealing confidential NSE financial predictions for the next five years.
From 2013 to 2016, Chitra Ramkrishna was the MD and CEO of NSE. She was fired from the NSE in 2016 for her role in the co-location and algorithmic trading scams, as well as for abusing her position of power.
The searches, according to officials, are being conducted to investigate allegations of tax fraud and financial irregularities levelled against her and others. Raids on her residences in Chennai and other locations were also conducted.
The former director of the National Stock Exchange has been fined Rs 3 crore.
Ramakrishna was fined Rs 3 crore by the Securities and Exchange Board (SEBI) on February 11 for exchanging internal NSE private information with an unknown person. The regulator also discovered anomalies in the appointment of senior official Anand Subramanian, which the NSE and top management were both accountable for.
According to Republic, Anand Subramanian’s offices are also being searched for tax evasion. From April 2013 until October 2016, he served as NSE’s Chief Strategic Advisor before being promoted to Group Operating Officer and advisor to the MD and CEO.
Chitra Ramakrishna revealed sensitive information to the mysterious ‘Yogi.’
Last week, Ramakrishna made headlines when she admitted to sharing sensitive material with a yogi in the Himalayas and seeking his help on important matters.
Apart from that, Ramkrishna discussed with the yogi various internal secret information, including the NSE’s financial and business strategies, dividend scenario, and financial outcomes, and even consulted him on the exchange’s staff performance reviews.
The alleged guru also had a significant impact on the choice of a mid-level employee with no capital market experience as Ramkrishna’s adviser, with inadequate documentation and pay higher than other NSE officials, according to SEBI findings.
The exchange claimed on Wednesday that there have been significant changes at the board and management level at the bourse over the previous few years, just days after markets regulator SEBI issued an order against NSE and its former leaders.
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With Chants Of “Pudhchya Varshi Lavkar Ya,” Panvel bids Goodbye to Ganapati Bappa
Panvel locals said a tearful goodbye to their beloved Ganapati Bappa on Sunday, wishing him to return early the following year, as the joyous sounds of Ganesh Chaturthi reverberated throughout the city (pudhchya varshi lavkar ya). The community was heavily involved in the 1.5-day immersion, which got underway on Saturday with “Ganpati Bappa Morya” shouts.
This year, 89 specified locations were enabled by the Panvel Municipal Corporation, with oversight from Municipal Commissioner Mangesh Chitale.
This comprised 48 man-made ponds with distinct pools for Shadu clay and plaster of Paris (POP) Ganpati’s in addition to 41 natural immersion places. The locations have all the necessary amenities, including Nirmalya Kalash, stage setups, electrical systems, CCTV, and security personnel.
At 5 p.m., the immersion procedure began, and it lasted until 11 p.m. Department representatives, including Commissioner Chitale, kept a careful eye on the planning and administration.
Commendably, five unique ‘Nirmalya Raths,’ as proposed by Deputy Commissioner Dr. Vaibhav Vidhate, were set up to gather Nirmalya from more than 250 Ganesha Mandals spread across the municipal territory. The objectives of this program were to promote environmental sustainability and efficient garbage management. Approximately 1,500 tons of Nirmalya were collected during the immersion. Dedicated crews are cleaning up the Visarjan Ghats, and plans are in place to turn this garbage into agar batti and incense sticks.
In addition, the Panvel Municipal Corporation honored followers who placed a high value on environmental preservation by submerging idols made of plaster of Paris and Shadu clay in the man-made lakes. In appreciation of their commitment to a greener Ganeshotsav, certificates were given out.
Municipal Commissioner Mangesh Chitale said, “This year’s immersion activities have set a benchmark for community participation and environmental stewardship, reflecting the city’s commitment to preserving cultural traditions while promoting sustainability.”
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Mumbai Traffic Blues, Good Bye! Travel Time To The Badlapur-Navi Mumbai Tunnel To Be Reduced To 20 Minutes
The new tunnel that would link Badlapur and Navi Mumbai is expected to cut the journey time in half, to only 20 minutes. The tunnel connects Bendsheel village in Badlapur to Rayate in Kalyan Taluka as part of the Vadodara-JNPT expressway project. This would integrate Badlapur into a larger network that connects key towns like Navi Mumbai, Palghar, Gujarat, and Mumbai.
This four-lane, 22-meter-wide tunnel is an essential part of a bigger project that aims to guarantee the seamless flow of traffic between Vadodara and Mumbai. With the new road, the 550 km trip from JNPT Port in Mumbai to Vadodara, which currently takes 10–12 hours, would only take 4-5 hours.
Plastering has started on the tunnel, a significant project milestone that indicates how quickly the construction has progressed.
Additionally, the tunnel will be essential for facilitating speedier freight movement to the JNPT port, which will promote economic growth by facilitating access to the future Navi Mumbai Airport. Along the route, this can result in the development of warehouses and commercial centers, creating additional job possibilities for the surrounding towns.
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For Navi Mumbaikar’s, Ganeshotsav This Year Is More Greener
This year, Ganeshotsav, a period marked by elaborate festivities and cultural displays, is also being used as a means of raising awareness of environmental issues. Encouraging the theme of “Eco-Idol to Save Environment,” households in Navi Mumbai are choosing biodegradable idols and integrating eco-friendly activities into their festival fun.
The creation and immersion of idols has changed significantly this year, making it a unique Ganeshotsav. Family eco-friendly Ganesha idols made of clay and other biodegradable materials are becoming more popular than plaster of paris (POP) idols, thanks to the efforts of Sri Bal Gangadhar Tilak to integrate ancient customs. This shift indicates a dedication to protecting nearby water bodies and an increasing understanding of environmental challenges.
Many homes are increasingly coordinating their activities with environmental considerations, while still adhering to the custom of doing Ganesh puja for one to ten days. The idols’ themes are as varied as the festivities themselves. While some homes are highlighting recent successes, like winning the World Cup, others are drawing attention to urgent societal challenges, like the recent Wayanad catastrophes.
In honor of winning the World Cup, Dr. Lokhande and his family at Mahavir Hospital in Koparkhairane have decided to celebrate with a clay statue of Ganesha dressed as a cricket player. Experienced idol builder Santosh Chaulkar has been hard at work creating more than a hundred clay idols especially for homes in the Koparkhairane node.
Big housing complexes like Nerul’s NRI Complex are acting together in addition to individual initiatives. It is suggested that locals retrieve the clay from submerged idols and give it back to the craftspeople in the area. By reusing the clay to construct new idols, this program seeks to establish a sustainable cycle that reduces waste and promotes ecological balance.
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