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<keyword id="95560" type="General" weightage="50" keywordseo="pamela-chopra" source="Orion">Pamela Chopra</keyword>, widow of the Czar of romantic films, <keyword id="2238" type="General" weightage="100" keywordseo="yash-chopra" source="Orion">Yash Chopra</keyword>, passed away in Mumbai today. She was 85. She was ailing for a couple of weeks and was admitted to a private hospital for treatment where she breathed her last this morning, an industry source said. <keyword id="4129" type="General" weightage="80" keywordseo="pamela" source="Orion">Pamela</keyword> is survived by her two sons - Aditya Chopra, film-maker who is married to actress Rani Mukherjee, and actor-producer <keyword id="36115" type="General" weightage="50" keywordseo="uday-chopra" source="Orion">Uday Chopra</keyword>. Pamela Singh - a cousin of the renowned actress <keyword id="6410389" type="General" weightage="50" keywordseo="simi-garewal" source="Orion">Simi Garewal</keyword>, was married in 1970 to Yash Chopra, the younger brother of the legendary film-maker B. R. Chopra. Yash Chopra, a multiple National Award winner and a Dadasaheb Phalke Award laureate passed away in Mumbai in October 2012, aged 80, due to Dengue. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/news/five-frequently-asked-questions-on-hybrid-solar-eclipse-answered/articleshow/99628830.cms">Five frequently asked questions on hybrid solar eclipse, answered</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/90-of-india-entire-delhi-in-danger-zone-of-heatwave-impacts-cambridge-study/articleshow/99630363.cms">90% of India, entire Delhi in 'danger zone' of heatwave impacts: Cambridge study</a>

Yash Chopra's widow Pamela Yash Chopra passes away at 85

<ul><li>Co-promoter <keyword id="843530" type="General" weightage="80" keywordseo="rakesh-gangwal" source="Orion">Rakesh Gangwal</keyword>’s wife, <keyword id="3108991" type="General" weightage="80" keywordseo="shobha-gangwal" source="Orion">Shobha Gangwal</keyword> is the likely seller in the block deal executed on Thursday, as per media reports.</li><li>Last September, Rakesh <keyword id="924639" type="General" weightage="80" keywordseo="gangwal" source="Orion">Gangwal</keyword> was reportedly looking to sell 2.8% stake in the low cost airline for approximately $250 million.</li><li>As of December 2022, Shobha Gangwal owns 7.04% stake in the company while co-founder Rakesh Gangwal holds 13.24% stake.</li></ul>Shares of <keyword id="6354706" type="General" weightage="100" keywordseo="indigo" source="Orion">IndiGo</keyword> tumbled over 4.5% on Thursday after several large block deals were executed during the day, with 18 million shares exchanging hands. The stock closed at ₹1,897 per share. Co-promoter Rakesh Gangwal’s wife, Shobha Gangwal is known to have sold 4% of her stake in the company via block deals, according to <a href="https://www.moneycontrol.com/news/business/stocks/indigo-crashes-after-large-block-deal-shobha-gangwal-likely-seller-10093341.html">media reports</a>. As per CNBC-TV18, the floor price for the block deal was set at ₹1,875 per share and Goldman Sachs was appointed as the broker. Last September, Rakesh Gangwal <a href="https://www.livemint.com/companies/news/rakesh-gangwal-to-sell-2-8-stake-in-indigo-for-250-million-in-block-deal-11662558562338.html">was reportedly looking to</a> sell 2.8% stake in the low cost airline for approximately $250 million. As of December 2022, Shobha Gangwal held 7.04% stake in the company while the airline’s co-founder Rakesh Gangwal held 13.24% stake. The promoter group currently owns a majority 71.92% stake in the airline. <keyword id="1697775" type="General" weightage="50" keywordseo="kapil-bhatia" source="Orion">Kapil Bhatia</keyword> and <keyword id="325253" type="General" weightage="50" keywordseo="rahul-bhatia" source="Orion">Rahul Bhatia</keyword> hold 0.01% stake each while <keyword id="16015993" type="General" weightage="50" keywordseo="asha-mukherjee" source="Orion">Asha Mukherjee</keyword> held 0.32% in the airline. Rahul Bhatia is the promoter and managing director of the airline. The market capitalization of the aviation company stood at ₹73,159 crore. Shares of the company have fallen over 9% in the last one month. Earlier this month, Indigo reported its highest ever quarterly revenue of ₹15,410 crore in Q3, on the back of strong demand during the peak travel season. Net profit of the airline rose to ₹1,422 crore as compared to ₹129 crore last year. Last quarter, it had posted a net loss of ₹1,583 crore. “Third quarter performance was strong both operationally and financially in the backdrop of robust demand for air travel. The wide range of initiatives that were set in motion across the organization have started to yield results,” said <keyword id="4490438" type="General" weightage="50" keywordseo="pieter-elbers" source="Orion">Pieter Elbers</keyword>, CEO of Indigo. Total expenses for the quarter ended December 2022 were ₹13,986 crore, an increase of 49.6% over the same quarter last year. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/india-becomes-the-number-one-team-in-all-formats-in-icc-rankings/slidelist/97951749.cms">Indian cricket team drops to second position in tests after ICC corrects its mistake</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/fantastic-voyage-star-and-60s-sex-symbol-raquel-welch-passes-away-at-82/articleshow/97967923.cms">'Fantastic Voyage' star and '60s sex symbol Raquel Welch passes away at 82</a>

IndiGo stock slips 4.5% as 18 million shares exchange hands via block deals

Mortal remains of late former Indian President <a href="http://www.businessinsider.in/searchresult.cms?query=APJ+Abdul+Kalam">APJ Abdul Kalam</a> arrived at Palam Airport in New Delhi from Guwahati on Tuesday. 
 Indian President Pranab Mukherjee, Vice-President Hamid Ansari, <keyword id="6354814" type="UNKNOWN" weightage="100" keywordseo="prime-minister-Narendra-Modi">Prime Minister Narendra Modi</keyword>, along with Three Service Chiefs paid homage to Kalam. 
 
Defence Minister Manohar Parrikar, Delhi Police Commissioner B.S. Bassi and Delhi Chief Minister Arvind Kejriwal were also present. 
 
 
 
Public can pay homage to the late President from 3pm onwards at 10 Rajaji Marg in New Delhi. 
 
 
 
The last rites will take place at Rameswaram in Tamil Nadu. 
 
People from all walks of life took to social media and paid homage to the apolitical President. Kalam led the scientific team that developed missiles able to carry India's nuclear warheads. 
 
He became a national hero after helping oversee nuclear tests in 1998 that solidified India's status as a nuclear weapons state. India's first atomic test was in 1974. 
 
Meanwhile, <a href="http://www.businessinsider.in/searchresult.cms?query=smriti+irani">Union HRD Minister Smriti Irani</a> announced Rashtriya Avishkar Abhiyan to be renamed as APJ Abdul Kalam Rashtriya Avishkar Abhiyan. 
 
Telangana Government has announced holiday, whereas the Andhra Pradesh Government has decided to work one hour extra to pay tribute to the late President. 
 
Kalam died on Monday (July 27) from a cardiac arrest at the age of 83. 
 
Kalam, popularly known as 'Missile Man', was delivering a lecture in Shillong when he collapsed and was rushed to Bethany Hospital. 
 
Kalam’s last tweet was: 
 
 
<blockquote class="twitter-tweet" lang="en">
	
		Going to Shillong.. to take course on Livable Planet earth at iim. With <a href="https://twitter.com/srijanpalsingh">@srijanpalsingh</a> and Sharma.
	— In memoryof Dr.Kalam (@APJAbdulKalam) <a href="https://twitter.com/APJAbdulKalam/status/625546195205648384">July 27, 2015</a></blockquote>
 
We at Business Insider have created this unique platform for anyone who wants to pay homage to this the beloved Former President, APJ Abdul Kalam- the great leader, teacher, scientist and amongst many other things a visionary par excellence, even as he embarks upon his last journey. Just click on the link to pay your respects: <a href="http://www.businessinsider.in/social/48249034.cms">http://www.businessinsider.in/social/48249034.cms</a> 
 
(Images: ANI Twitter)

President Pranab Mukherjee, PM Modi pay homage to Dr Kalam at Delhi airport

Juveniles aged 16 years and above will now be tried under laws for adults for heinous crimes after <keyword id="48510" type="ORGANIZATION" weightage="100" keywordseo="Rajya-Sabha">Rajya Sabha</keyword> passed the <keyword id="2458616" type="UNKNOWN" weightage="20" keywordseo="Juvenile-Justice-Bill">Juvenile Justice Bill</keyword> on Tuesday. The government sought support of all parties on the legislation to "deter many other boys" from doing such a crime. The bill which seeks to treat juveniles between 16 to 18 years as adults for committing heinous crimes such as rape will become a law after President <keyword id="6359124" type="PERSON" weightage="20" keywordseo="Pranab-Mukherjee">Pranab Mukherjee</keyword> signs the amendments. 

	While the TMC had extended its full support to the bill during the debate, other parties like JD(U) remained divided over the issue and members of the CPI(M) party staged a walkout just before the bill was put to vote.

	Maneka Gandhi who had piloted the bill, had read out a list of gruesome crimes committed by juveniles in the House and asked the House how such cases can be handled.
 The parents of the December 2012 gangrape victim, known as <keyword id="6357643" type="UNKNOWN" weightage="20" keywordseo="Nirbhaya">Nirbhaya</keyword>, watched the proceedings from the visitor's gallery. 

	"Glad that juvenile justice bill has been passed, this will help our future generations and prevent crimes, but at the same time we are pained that our daughter could not get justice." said Asha Devi, Nirbhaya's mother, who was almost in tears when she spoke to the media after the bill's passage. 
	 
	(image credit: PTI)

Rajya
Sabha passes Juvenile Justice Bill

Making a political statement, <keyword id="2540" type="POSITION" weightage="20" keywordseo="President">President</keyword> <keyword id="6359124" type="PERSON" weightage="20" keywordseo="Pranab-Mukherjee">Pranab Mukherjee</keyword> has said that the Parliament’s job is to enact laws and frequent obstructions in its functioning undermines its constitutional responsibility. 
 
"There is a growing tendency to resort to disruption as a means of parliamentary intervention. Dissent is a recognised democratic expression, but disruption leads to loss of time and resources, and paralyses policy formulation. The cardinal principle of parliamentary democracy is that the majority has the mandate to rule while Opposition has the right to oppose, expose, and if the numbers permit, to depose. But, under no circumstances should there be disruption of the proceedings," the President said. 
 
“A noisy minority cannot be allowed to gag a patient majority," he added. 
 
Delivering his speech on 'Parliament and Policymaking' to a group of students and teachers, President Mukherjee said, "The framers also deemed it necessary to impose certain restrictions on this extraordinary legislative power by constitutionally mandating replacement of such ordinances within a time frame by the legislators." 
 His comments came in the backdrop of several ordinances issued by the <keyword id="905742" type="ORGANIZATION" weightage="20" keywordseo="Narendra-Modi-led-government">Narendra Modi-led government</keyword> due to its lack of majority in the Rajya Sabha and frequent protests by the opposition over religious conversions. 
 Reacting on President Mukherjee’s comments, <keyword id="1575" type="ORGANIZATION" weightage="20" keywordseo="Congress">Congress</keyword> leader <keyword id="119952" type="PERSON" weightage="20" keywordseo="Manish-Tewari">Manish Tewari</keyword> said, "The essence of a democracy is reflection of the views of minority in the mainstream of the national discourse.” BJP declined to comment on the issue. 
 
It is pertinent to mention here that before becoming the President of India, Mukherjee was a member of Congress.

Parliament’s Job Is Passing Laws, Not Obstructing Proceedings: Pranab

<a href="http://www.businessinsider.in/searchresult.cms?query=pranab+mukherjee&amp;sortorder=effectivedate">President Pranab Mukherjee </a>gave his assent to the Payment of Wages (Amendment) Act, 2017, which was introduced in the <a href="http://www.businessinsider.in/searchresult.cms?query=budget+2017&amp;sortorder=effectivedate">Budget</a> session. 
 
As per the new amendments, employers can gave gives wages to workers through cheques or<a href="http://www.businessinsider.in/searchresult.cms?query=online+payments&amp;sortorder=effectivedate"> online-method </a>without any written authorisation. 
 The new law has amended the <keyword id="695544" type="UNKNOWN" weightage="20" keywordseo="Payment-of-Wages-Act">Payment of Wages Act</keyword>, 1936, which mandated payment of all wages either in coin or currency notes, or both. 
 
Before introduction of a bill to amend the 1936 Act on February 3, an Ordinance was promulgated by the President on December 28, 2016. 
 The Bill was passed in Lok Sabha on February 7 and in <keyword id="48510" type="ORGANIZATION" weightage="20" keywordseo="Rajya-Sabha">Rajya Sabha</keyword>, the next day. 
 
With the President's approval to the Act, "the Payment of Wages (Amendment) Ordinance, 2016 is hereby repealed", the order said. 
 
As both the Houses of Parliament were not in session and immediate action was required to be taken to ensure that the benefits of the proposed legislation reach the employed persons at the earliest, the President promulgated the Payment of Wages (Amendment) Ordinance 2016, the bill had stated. 
 
The new Act allows the governments to specify the industrial or other establishment, the employer of which shall pay to every person employed there, the wages only by cheque or by crediting it in his bank account.

Employers can now pay wages to workers through cheque or e-mode. It’s a law now

A day before <keyword id="3003094" type="UNKNOWN" weightage="20" keywordseo="Startup-India">Startup India</keyword>, President <keyword id="6359124" type="PERSON" weightage="20" keywordseo="Pranab-Mukherjee">Pranab Mukherjee</keyword> lauded the efforts of Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> for creating a healthy environment for entrepreneurs in the country and pushing innovation. 
 Mukherjee also said he was responsible for the delay in encouraging <keyword id="107737" type="ORGANIZATION" weightage="20" keywordseo="Entrepreneurship">entrepreneurship</keyword> during his regime in the former UPA government, in which he served as the finance minister. 
 
"I cannot pass on the buck to anybody. I will have to take the buck to myself because I was in administration too long." 
 Mukherjee, while interacting with a delegation of CEOs from the <keyword id="6357722" type="COMPANY" weightage="20" keywordseo="silicon-valley">Silicon Valley</keyword> here, said India needs to grow at the rate of 10 per cent over period of next 10-15 years in order to address the issues of poverty and healthcare. 
 
"Some of you have correctly pointed out that they (new entrepreneurs) feel confident, they want to do..It is the job of the government to create the policy environment to encourage entrepreneurship. We have taken too long but nonetheless we have taken that decision. We have woken up," he told the CEOs while referring to the 'Start-Up' campaign which is aimed at boosting entrepreneurship at grassroots level. 
 
(Image: PIB)

President Pranab Mukherjee agrees he didn’t do enough as FM for Startup India

<a href="http://www.businessinsider.in/searchresult.cms?query=yakub+memon">Yakub Memon</a>, who was hanged in <a href="http://www.businessinsider.in/searchresult.cms?query=nagpur+jail">Nagpur jail</a> on Thursday, was buried alongside his father’s tomb. 
 
His body was handed over to his family members in Mumbai. 
 
Memon, 1993 <a href="http://www.businessinsider.in/searchresult.cms?query=mumbai+blasts">Mumbai blasts</a> convict, was hanged at 6.35 am after the Supreme Court dismissed his curative petition and <a href="http://www.businessinsider.in/searchresult.cms?query=pranab+mukherjee">President Pranab Mukherjee</a> rejected his mercy petition on July 29. 
 
Hours before his hanging, Memon offered namaz and read the holy Quran and was provided with a fresh set of clothes. 
 
Nagpur’s Chief judicial magistrate M M Deshpande was present and she read out the operating part of the TADA court order which awarded capital punishment to Memon before he was made to stand on a stool and the lever pulled by the hangman. 
 
A team of doctors declared him dead and a post-mortem was conducted by a team from a Nagpur hospital. 
 
Ironically, Memon, who was a chartered accountant by profession, was hanged on his birthday. He turned 53 today. 
 
He had reacted with an angry outburst saying "innocent people are being called terrorists" when a TADA court here had pronounced him guilty on September 12, 2006. 
 
After hearing the verdict, he had said, "We do not want to engage lawyers to argue on quantum of sentence...13 years have passed and innocent people are being called terrorists." 
 
Blasts in Mumbai, then known as Bombay, in 1993 had killed 257 people and Memon was convicted as the "driving spirit" behind the serial blasts in India's financial capital. 
 
(Image: Indiatimes)

Yakub Memon buried with Islamic rites

After months of political uncertainty, it seems Delhi will soon have a government of its own. Amidst this politically charged atmosphere, a delegation of the <keyword id="6354944" type="ORGANIZATION" weightage="100" keywordseo="Aam-Aadmi-Party">Aam Aadmi Party</keyword> (<keyword id="6356115" type="CITY" weightage="100" keywordseo="AAP">AAP</keyword>) recently met President <keyword id="6359124" type="PERSON" weightage="80" keywordseo="Pranab-Mukherjee">Pranab Mukherjee</keyword> after <keyword id="6354564" type="POSITION" weightage="100" keywordseo="Lieutenant-Governor">Lieutenant Governor</keyword> (LG) <keyword id="6478435" type="PERSON" weightage="100" keywordseo="Najeeb-Jung">Najeeb Jung</keyword> sought the President's nod to invite the single-largest party, the <keyword id="14666" type="ORGANIZATION" weightage="80" keywordseo="BJP">BJP</keyword>, to form the government. In this backdrop, BI India’s Manish Kumar had an exclusive interview with <keyword id="342262" type="PERSON" weightage="100" keywordseo="Yogendra-Yadav">Yogendra Yadav</keyword>, AAP’s senior leader and strategist. Here are the excerpts: 
 
Lieutenant Governor LG Naseeb Jung, in an interview with The Times Of India, said that the efforts for government formation in Delhi were still on. But your party has been demanding to conduct elections at the earliest. What is your reaction on that? 
I saw the statement and I was really surprised. I was surprised because there is a very clear-cut situation... the party with the largest number, the BJP, has not staked claim to power. The second largest party, the Aam Aadmi Party, has refused to form the government, and has demanded election. Congress has no chance of forming the government. The composition of the Assembly hasn’t changed as well. Then what is the LG waiting for? That surprises me, and statement like that lends itself to an interpretation that the LG is waiting for ‘something’ to happen, perhaps for some horse trading to take place. 
 
After saying that it does not have the required number to form the government, the BJP has now said that it is open to forming the government if asked by the LG. How do you view this change in BJP’s stance? 
This is precisely what is odd here. When the BJP had 32 MLAs in the Assembly, it went to the (Lieutenant) Governor and said that we cannot form the government. Now that it has only 29 members, it says it may be willing (to form the government) if invited by the Lieutenant Governor. At the same time, it is not going to the LG to formally stake a claim. Clearly, they do not have the numbers or the confidence that they have or can get majority in the Assembly. Clearly, they are waiting for some help from the Lieutenant Governor. That is what’s odd about it as if the BJP is hoping that the constitutional office of the LG could favour it and help manufacture a majority that it does not actually enjoy. That reminds us of the older days before the Anti-defection Bill came, when buying and selling of MPs and MLAs used to be a very standard thing. One can only hope that the LG and the BJP are not colluding to take us back to that situation. 
 
In case of another hung Assembly even after fresh elections, would you accept or extend support to either the BJP or the Congress? 
This is not just a hypothetical but a super-hypothetical question. We are, at the moment, struggling for the election to be announced. You have assumed that elections have been announced, you have assumed that elections have been held, you have assumed that results are out, and there is no majority…I mean…I don’t think I would like to respond to this super-hypothetical question. I am personally quite confident that if elections are held, Aam Aadmi Party would come in majority. And that is precisely the reason why the BJP is running away from elections. 
 
<keyword id="540848" type="UNKNOWN" weightage="100" keywordseo="kumar-vishwas">Kumar Vishwas</keyword> recently alleged that the BJP had approached him with the offer of making him the chief minister. Why is the party’s top brass silent on the issue? 
That’s not true. My colleague Sanjay Singh has actually openly spoken about it. He even named the person. The party has spoken. Any attempt to offer such incentives of any kind is clearly unethical. 
 
I was referring to the party’s top brass – you yourself, Arvind Kejriwal or Manish Sisodia. 
You may have one understanding of what the top brass is. But I clearly include Sanjay bhai among the top brass. There is clearly no doubt in anyone’s mind that any form of inducement offered, etc., is simply not acceptable. This is not an ethical conduct and if this is indeed what happened, then this is surely a matter of concern. 
 
Your comment on Prime Minister <keyword id="6354477" type="PERSON" weightage="80" keywordseo="Narendra-Modi">Narendra Modi</keyword>’s 100 days in office. 
I have written an article about it, where basically I have said that 100 days is too short a period to come to any definitive conclusion. We have seen some signs…some positive signs as well like the foreign policy, like setting SIT on black money, etc. But signs of worry are overwhelming. The government had made huge promises about inflation, employment and so on, but there’s been no action yet. In fact, when it comes to farmers, there is reverse action. On environment, there has been purely negative action so far. On foreign policy, there is no clear integral view of what is happening. And worst of all, on questions to do with integrity and corruption, the government doesn’t seem to be standing up for the honest officers. Not to forget the question of communalism, where there appears to be a crowd-sourcing of communalism and the government is silently watching it. These are reasons of worry. One can only hope that Modi would learn and improve. The trouble, of course, is that he has closed himself from the possibility of learning because of his authoritarian style of governance. These things, one can hope, would change. And if they do, we can indeed have better governance. Otherwise what the country needs is a genuine alternative kind of opposition. 
 
Can you please elaborate on the “authoritarian style of governance” that you just referred to? 
I mean this is no secret that Modi has, in his Cabinet, ministers who do not count for anything. All the crucial decisions about any ministry are taken not by the minister himself but by the Prime Minister. There is strict surveillance of all the key party leaders in the BJP itself. Anyone who can possibly be of any challenge to Modi has been systematically sidelined. These are not signs of a democratic leader, these are not signs of authority. These are signs of authoritarianism. But these are early signs and one can only hope that things will get better later.

"BJP Hoping For LG’s Favour To Manufacture Majority": Yogendra Yadav

NEW DELHI: Parliament on Wednesday passed the crucial <keyword id="6356353" type="UNKNOWN" weightage="100" keywordseo="lokpal">Lokpal</keyword> Bill with the <keyword id="6355187" type="ORGANIZATION" weightage="40" keywordseo="Lok-Sabha">Lok Sabha</keyword> adopting the measure as amended by the Rajya Sabha after a short discussion. Following are the salient features of the amended Lokpal Bill. 
 
1. Lokayuktas: The new bill mandates states to set up Lokayuktas within 365 days. States have the freedom to determine the nature and type of Lokayukta. 
 
The old bill said the law shall be applicable to states only if they give consent to its application. 
 
The old bill gave power to the central government to appoint state Lokayuktas while the new draft gives this power to the states. 
 
2. Constitution of Lokpal: The Lokpal will consist of a chairperson and a maximum of eight members, of which fifty percent shall be judicial members. Fifty percent members of Lokpal shall be from among SC, ST, OBCs, minorities and women. 
 The older version said the chairperson shall be the <keyword id="42759" type="POSITION" weightage="40" keywordseo="Chief-Justice">Chief Justice</keyword> of India or a present or former <keyword id="18182" type="POSITION" weightage="40" keywordseo="Judge">judge</keyword> of the <keyword id="6354977" type="ORGANIZATION" weightage="40" keywordseo="Supreme-Court">Supreme Court</keyword> or a non-judicial member with specified qualifications (chief justice or a judge of a high court). 
 
3. Selection of Lokpal: The selection committee will have <keyword id="71" type="POSITION" weightage="40" keywordseo="Prime-Minister">Prime Minister</keyword>, Lok Sabha Speaker, leader of the opposition in Lok Sabha and the Chief Justice of India. A fifth member of the selection committee for selection of Lokpal under the category of "eminent jurist" may be nominated by the <keyword id="2540" type="POSITION" weightage="40" keywordseo="President">President</keyword> on the basis of recommendation of the first four members of the selection committee. 
 
In the old bill, selection of the fifth person was left entirely to the President. 
 
4. Religious bodies and trust: The new bill includes societies and trusts that collect public money, receive <keyword id="6357455" type="EVENT" weightage="40" keywordseo="Funding">funding</keyword> from foreign sources, and have an income level above a certain threshold, it excludes bodies creating endowments for or performing religious or charitable functions. 
 
The old bill expanded definition of public servant by bringing societies and trusts which receive donations from the public (over a specified annual income) and, organisations which receive foreign donations (over Rs 10 lakh a year) within the purview of the Lokpal. 
 
5. Prosecution: In the new version, before taking a decision on filing a chargesheet in a case upon consideration of the investigation report, the Lokpal may authorise its own prosecution wing or the concerned investigating agency to initiate prosecution in special courts. 
 
Under the old bill, prosecution of the case could be done only by the prosecution wing of the Lokpal. 
 
6. Central Bureau of Investigation: For independence of the CBI, in the new bill a directorate of prosecution will be formed. Appointment of the director of prosecution will be on the recommendation of the <keyword id="403158" type="POSITION" weightage="40" keywordseo="Central-Vigilance-Commissioner">Central Vigilance Commissioner</keyword>. 
 
Transfer of officers of CBI investigating cases referred by Lokpal will be only with the approval of Lokpal who will also have superintendence over CBI in relation to Lokpal referred cases. 
 
7. Hearing: The new bill says a government servant will get a hearing before a decision is taken by the Lokpal. 
 
8. Prime Minister: The Prime Minister will be under the purview of the Lokpal with subject matter exclusions and specific process for handling complaints against the Prime Minister. 
 
9. Investigation: Inquiry has to be completed within 60 days and investigation to be completed within six months. Lokpal shall order an investigation only after hearing the public servant. 
 
Inquiry against the prime minister has to be held in-camera and approved by two-thirds of the full bench of the Lokpal. 
 
10. Penalty: False and frivolous complaints - imprisonment up to one year and a fine of up to Rs.1 lakh. Public servants - imprisonment up to seven years. Criminal misconduct and habitually abetting corruption - jail term up to 10 years. 
 
 
Lokpal’s journey to transparency 
 
1966 
 <keyword id="238033" type="PERSON" weightage="40" keywordseo="Morarji-Desai">Morarji Desai</keyword> led First Administrative Reforms Commission recommends setting up of Lokpal at Centre and Lokayukta in states to look into complaints against public functionaries, including MPs 
 
1968-2001 
 
Successive governments introduce Lokpal bill eight times 
 
2002 
 
Justice MN Venkatachaliah led Constitution Review Commission stresses the need for Lokpal and Lokayuktas 
 
2004 
 
UPA-I's national common minimum programme promises that Lokpal bill would be enacted 
 
2005 
 
Veerappa Moily led Second Administrative Reforms Commission reiterates that Lokpal be established without delay 
 
2011 
 Jan: UPA-II's GoM headed by <keyword id="6359124" type="PERSON" weightage="40" keywordseo="Pranab-Mukherjee">Pranab Mukherjee</keyword> suggests a range of anti-corruption measures, including the Lokpal bill 
 Apr 5: <keyword id="57766" type="PERSON" weightage="40" keywordseo="Anna-Hazare">Anna Hazare</keyword> begins his first fast at Jantar Mantar demanding enactment of <keyword id="541695" type="UNKNOWN" weightage="40" keywordseo="Jan-Lokpal-Bill">Jan Lokpal bill</keyword> drafted by his team 
 
Apr 9: Anna ends fast as the government forms a joint drafting committee consisting of ministers and civil society members 
 
Jun 21: The last meeting of the drafting committee ends with the two sides coming up with separate drafts 
 
Aug 4: Govt introduces a Lokpal bill, widely attacked as fl awed 
 
Aug 8: Bill referred to standing committee 
 
Aug 16: Anna launches second fast for Jan Lokpal bill 
 
Dec 22: Govt re-introduces Lokpal and Lokayuktas bill 
 
Dec 27: Lok Sabha passes bill 
 
Dec 29: Introduced in Rajya Sabha 
 
2012 
 
Re-introduced in Rajya Sabha. Referred to select committee 
 
2013 
 
Dec 10: Anna Hazare begins fast in his village in Maharashtra, demanding urgent introduction of a new anti-corruption law 
 
Dec 13: Amended bill tabled in Rajya Sabha 
 
Dec 18: Lok Sabha passes the ammended bill. Anna Hazare breaks his fast. 
 
(With inputs from IANS)

All you want to know about Lokpal Bill

New Delhi, Jan 5 () Crediting three successive finance ministers -- Pranab Mukherjee, P Chidambaram and late Arun Jaitley -- for Sebi's strong action against Sahara Group, the market regulator's former chief U K Sinha has said the three leaders stood their ground and did not interfere in the matter despite repeated attempts by vested interests.
Sinha also praised former Prime Minister Manmohan Singh for his sound advice on how to balance the multiple roles of Sebi, and applauded current Prime Minister Narendra Modi for being a "very inquisitive" leader and always being firm in his belief that no person big or small should be spared for any wrongdoing. 
Sebi had ordered Sahara India Real Estate Corporation Ltd (SIRECL) and Sahara Housing Investment Corporation Ltd (SHICL) in 2011 to refund the money raised from investors through certain bonds known as Optionally Fully Convertible Bonds (OFCDs).
According to their own admissions, the net amount raised by the two companies was more than Rs 24,000 crore from over 3 crore investors.
After a long process of appeals and cross-appeals, the Supreme Court on August 31, 2012 upheld Sebi's directions asking the two firms to refund the money collected from investors with 15 per cent interest.
In his new book 'Going Public: My Time at Sebi', Sinha has said that the Sahara case attracted substantial media attention and political leaders across the party took keen interest in the matter.
The biggest and most expensive legal minds in the country appeared for Sahara at various stages.
During the meetings of the parliamentary standing committee on Finance, and even outside, questions were raised as if one business group had been targeted in a singular manner in trying to amend the Sebi Act, Sinha added.
The former Sebi Chairman, during whose tenure the case was at its most important juncture, also said that attempts were made in a variety of ways, including threats of raising privilege motions in the Parliament and by intimidating Sebi officials.
"However, it goes to the credit of successive finance ministers -- Mukherjee, Chidambaram and Jaitley -- that they stood their ground and didn't interfere in the matter," he added.
In addition, he said the ministers and officials of the finance ministry also deserve credit for upholding the rule of law and keeping up the morale of Sebi officials.
 In his book, Sinha has also mentioned about his meetings with the two prime ministers.
He said Singh always had some sound advice on how to balance the multiple roles of Sebi and what the main focus area for the government is at any given time.
 Writing about Modi, the former chief of Sebi said he always came across as being very inquisitive and his priority was to make market supervision strict.
"Nobody should be allowed to get away after committing irregularities, deterrent action should be taken against the perpetrators. The biggest strength was his (Modi) firm belief that no person, big or small, should be spared," the former IAS officer has written in the book published by Penguin India.
With regard to the Supreme Court, Sinha said the apex court took several extraordinary measures, such as prohibiting all the other courts and tribunals from dealing with this matter, appointing a retired Supreme Court judge to monitor the progress made by Sebi and directing that the money be deposited with the regulator.
"The fact that about 60 per cent of the principal amount has been realised or received is because of the steadfastness of the Supreme Court," he noted. 
Sahara Group has been maintaining that it had already refunded almost the entire money collected from investors and the funds it had to deposit with Sebi for further repayment to the bondholders of its two companies amounted to double payment.
As per the latest disclosed figures, Sebi has been able to distribute nearly Rs 100 crore to genuine investors who had filed their claims, out of over Rs 20,000 crore collected from Sahara and the interest earned on that. SP BJ ABM
ABM

Credit goes to Mukherjee, Chidambaram and Jaitley for strong action against Sahara: Sebi ex-chief Sinha

NEW DELHI: The incoming <keyword id="6354477" type="PERSON" weightage="40" keywordseo="Narendra-Modi">Narendra Modi</keyword> government may well corner credit for key anti-corruption and pro-governance bills that UPA-II failed to pass despite a last minute bid to push the legislations through Parliament. 
 
The Modi government will take a call on UPA-II’ s unfinished agenda with cabinet secretary Ajit Seth asking ministries to compile a list of ordinances, pending and lapsed bills that would put up before the new regime. 
 
READ ALSO: <a href="http://timesofindia.indiatimes.com/home/lok-sabha-elections-2014/news/Modi-govt-to-be-sworn-in-on-May-26/articleshow/35384634.cms" target="_blank">Modi govt to be sworn in on May 26</a> 
 The bills include anti-corruption and public service measures the <keyword id="6359397" type="PERSON" weightage="40" keywordseo="Manmohan-Singh">Manmohan Singh</keyword> government had, under <keyword id="1575" type="ORGANIZATION" weightage="40" keywordseo="Congress">Congress</keyword> vice president Rahul Gandhi’s prodding, tried to legislate before dissolution of the 15th <keyword id="6355187" type="ORGANIZATION" weightage="40" keywordseo="Lok-Sabha">Lok Sabha</keyword>. 
 
In a communication to secretaries, Seth said "Ministers\departments may in all such cases take a view in the matter with the approval of the new minister-in-charge as soon as the new government is sworn in.” 
 
Seth has advised ministries that they can frame "suitable proposals for consideration of the Cabinet after requisite inter-ministerial consultations” once it becomes clear that whether the bills are to be dropped, altered or retained. 
 BJP seems inclined to review the bills. "Some of the bills can be improved. Some of the acts that have been passed can be amended and some pending bills may not be priority any more,” a <keyword id="6464304" type="POSITION" weightage="40" keywordseo="Senior-BJP-leader">senior BJP leader</keyword> said. 
 
READ ALSO: <a href="http://timesofindia.indiatimes.com/business/india-business/Challenges-the-new-govt-faces-and-possible-solutions-to-put-India-back-on-a-growth-path/articleshow/35458117.cms">TOI manifesto — Challenges the new govt faces</a> 
 
 
 
The bills present an opportunity for the new government, as they have been framed by the Congress-led UPA and the former ruling party would ordinarily not oppose their passage. This should help NDA as it lacks numbers in the upper House. 
 
Bills seeking to amend the prevention of corruption act, judicial appointments, right to services and introduction of auctions in mining contracts are among 60 pending and 68 lapsed bills. 
 
READ ALSO: <a href="http://timesofindia.indiatimes.com/home/lok-sabha-elections-2014/news/Babudom-dusts-off-3-year-old-Modi-report-on-inflation/articleshow/35449104.cms" target="_blank">Babudom dusts off 3-year-old Modi report on inflation</a> 
 
READ ALSO: <a href="http://timesofindia.indiatimes.com/business/india-business/Tax-dept-blamed-for-policy-uncertainty/articleshow/35445849.cms" target="_blank">Tax dept blamed for policy uncertainty</a> 
 
Secretaries have been asked to discuss the bills with new ministers at the earliest to get a view if they are to be pursued in their present form or changes are required to be carried out. 
 
The note, brought out in the form of an office memorandum of the Cabinet Secretariat, also mentioned that a similar view will also need to be taken about Ordinances promulgated by President Pranab Mukherjee. 
 
"These will now be required to be placed for consideration of the Cabinet”, said the note. 
 
<embed allowfullscreen="true" allownetworking="all" allowscriptaccess="always" flashvars="contentid=0_jrierzo7&amp;videosection=videoshow&amp;channelid=10001&amp;tadsid=38826&amp;tslotid=868&amp;npl=1&amp;flavour=&amp;id=35417814&amp;playerid=24&amp;section=News&amp;autoplay=1&amp;keywords=RSS, Speaker, role, LK Advani, Narendra Modi, NDA, BJP govt&amp;title=RSS pitches for Speaker’s role to Advani?&amp;description=RSS pitches for Speaker’s role to Advani?&amp;duration=02:30&amp;flavour=&amp;relatedvideo=http://timesofindia.indiatimes.com/videpostroll_v3/3812907.cms?dontshow=35417814&amp;embval=false" height="416" name="myMovie" pluginspage="http://www.macromedia.com/go/getflashplayer" quality="high" src="http://timesofindia.indiatimes.com/configspace/ads/timesChannelWrapper.swf" type="application/x-shockwave-flash" width="554" wmode="transparent" /> 
 
The Prevention of Corruption (Amendment) Bill and the Judicial Appointments Commission Bill, 2013 were introduced in the Rajya Sabha by the UPA-II government. 
 
The Bills, which are lapsed due to dissolution of the 15th Lok Sabha, include the Judicial Standards and Accountability Bill, the mines and minerals (Development and Regulation) Bill, the Electronic Delivery of Services Bill and the Foreign Educational Institutions (Regulation of Entry and Operations) Bill.

Narendra Modi Government May Take Up Bills UPA Failed To Pass

<ul><li>In joint term policies, distinct coverage amounts are allocated for the primary life assured and the secondary life assured. </li><li>A joint coverage, characterised by premiums for both partners within a single policy, proves to be more economical. </li><li>If the policy includes a premium waiver feature, the life insurance for the surviving <keyword id="32787" type="General" weightage="20" keywordseo="spouse" source="Orion">spouse</keyword> will continue without the need for extra premium payments. </li></ul>When Delhi-based Shamik Mukherjee got married, he figured out that he needed to get term insurance. His wife, Sanchari is a homemaker, so he decided to get term insurance for himself. After all, term insurance is supposed to replace the income of the primary earning member in the unfortunate incident of his demise. Mukherjee did not intend to take a separate policy for his wife. However, on being advised by his financial planner, he decided to go for a joint term insurance. How a joint term insurance works “Joint-term policies are a type of life <keyword id="35492" type="General" weightage="20" keywordseo="insurance-policy" source="Orion">insurance policy</keyword> that provides coverage to two individuals under a single plan,” says Rhishabh Garg, head, Term Insurance, Policybazaar.com. A <keyword id="6355811" type="General" weightage="20" keywordseo="couple" source="Orion">couple</keyword> can take a <keyword id="20235695" type="General" weightage="20" keywordseo="joint-term-policy" source="Orion">joint term policy</keyword> even if one of them does not have an income. In such a policy, distinct coverage amounts are allocated for the primary life assured and the secondary life assured. The coverage for the secondary insured can be up to 50% of the <keyword id="807521" type="General" weightage="20" keywordseo="sum-assured" source="Orion">sum assured</keyword> of the primary life assured. “In the event of the primary life assured's death, the nominee chosen by them will receive the death benefit. The policy will continue for the second life insured, but they do not have to pay future premiums. Later, in the event of the second life insured's death, their nominee will receive the death benefit, which will be a different nominee than earlier mentioned,” says Garg. For example, for a joint life term cover of ₹1 crore, the spouse cover might be ₹20 lakh. In case of the death of the primary life while the spouse is alive, ₹1 crore death benefit is paid, and any remaining future premiums are typically waived off. The benefit payable on the subsequent death of the spouse is assumed at ₹20 lakh in this case. This can be altered as per the requirements and needs of the family. Joint term policy: Pros and cons Opting for two distinct policies can result in higher long-term costs. A joint coverage, characterised by premiums for both partners within a single policy, proves to be more economical. Furthermore, regardless of which partner passes away, the payout is guaranteed. Further, a joint life insurance extends coverage to the surviving spouse, irrespective of their employment status. If the policy includes a premium waiver feature, the life insurance for the surviving spouse will continue without the need for extra premium payments. On the flip side, if the surviving partner seeks new life insurance later in life, it is likely to be more costly due to their older age. Additionally, any health or medical issues that have arisen since the initial coverage was established will further contribute to increased premiums. Should you opt for joint life insurance? “In case the spouse doesn’t have an earned income, opting for a joint life option might be a better idea due to the comparative underwriting advantage. However, the decision should be made after assessing the individual needs of a family,” says Sabyasachi Sarkar, appointed actuary, Go Digit-Life Insurance. When both spouses earn, opting for a single life option might work better as it would address the need of insurance in a better manner.

Couple Goals: Protection made easy with joint term insurance plans

<ul><li>Streaming services grew at 50-60% during the pandemic, now it’s fallen to around 13%.</li><li>Ad supported models and new regional players are disrupting the market.</li><li>Higher acquisition and production costs and churn are troubling players who are seeing effects of slowdown.</li><li>The original content that’s streaming on OTTs is also falling into a rote, say consumers and film-makers. </li></ul>The year 2020 was a watershed year for many industries, as lockdowns put enormous restrictions on people. Ramesh Bharadwaj was stuck at home waiting for the pandemic to end. To pass time and keep his mind off crazy thoughts, the 27-year-old script writer started watching web series. And he subscribed to more and more OTT platforms to keep himself occupied. “Last year (2022), I realized that I had the big three — Prime, <keyword id="128682" type="General" weightage="20" keywordseo="netflix" source="Orion">Netflix</keyword> and <keyword id="2739840" type="General" weightage="20" keywordseo="hotstar" source="Orion">Hotstar</keyword>, and one more Telugu OTT. I was spending over ₹5,000 a year on these services. When I came to senses, I retained two and cancelled the rest,” he told Business Insider India. Bharadwaj joins the list of many people who are cutting down on the number of OTT subscriptions. Apart from costs, the screen-time has drastically reduced after they started stepping out after the pandemic. Binge watching is no more in vogue — which is taking the shine off the growth rates of OTT players compared to the pandemic. The ‘cool factor’ goes poof The dullness that’s seeped into the OTTs is not just because of screen fatigue and too many options. The ‘alternate’ content that’s made streaming cooler than TV, is also fast waning. Akshay Bardapurkar, CEO and Founder, Planet Marathi too says that people are moving away because there is nothing exciting to watch. “People want to devote their free time to watching OTTs but the quality of content post-Covid is not up to its mark. You don’t subscribe to OTTs for one series or a movie, you need continuity and that’s seen a downfall post-Covid,” he adds. Bharadwaj too tells that he is watching a lot less of streaming services because there’s nothing exciting to watch. “The last time I enjoyed a series was Khakee and Panchayat Season 2,” he sighs. Experts also say that all the web series are sounding and looking the same too. “The thriller genre is overdone on OTT and they’re falling into a rote. In order to make people watch the next episode, they’re having to invent ‘kicks’ in each episode and extend a story that can be told in 1.5 hours to 4-4.5 hours across eight episodes,” Indrani, a documentary filmmaker tells Business Insider India. “They’re nothing more than sophisticated soaps,” she opines. The growth curve has flattened In 2023, the number of people using OTT platforms increased by 13.5%. While it’s still double-digit growth, it’s nowhere close to the 50-60% seen during the pandemic. OTT players call these reduced growth numbers as signs of stabilization and maturity. “The curve has flattened over time. This had to happen. But we at Hoichoi are seeing some pockets of high growth,” Soumya Mukherjee, COO of regional language OTT player Hoichoi tells Business Insider India. The business is moving but at a much slower pace. “Now, the (OTT) growth is more organic, influenced by factors like cheaper data, content variety and the widespread availability of digital platforms. The fervour witnessed during the pandemic-induced surge has mellowed down to a more gradual pace,” said Sameer Jain, managing director of Primus Partners. Bharat binges but on AVOD model All in all, 423.8 million Indians watch content on an OTT platform. An average user holds 2.8 subscriptions each. And India has over 100 million paid subscriptions in India. Most of the new subscribers are coming from non-metroes. “Metropolitan areas and some smaller urban centers are showing signs of saturation, experiencing minimal growth. Notably, smaller towns and rural areas, where only 23% of the population is engaged compared to the national average of 34%, are driving this growth,” Jain tells Business Insider India. This new-growth patch for OTT is coming at a new business model – AVOD or advertising-based Video on Demand. Popularized by Jio Cinema which offered Indian Cricket World Cup for free with ads, the model involves some ‘free content’ and some ‘premium’ offerings behind a paywall. The large OTTs, which disrupted linear TV, are now being disrupted. “A clear structural disruption for the India content/telecom ecosystem may lead to early consolidation signs for India OTT, strain on global OTT giants (behind the paywall), and India OTT shifting to free offerings,” says Karan Taurani, media sector analyst at Elara Capital, says in a note. Mushrooming and churn During its high-growth phase, many new and regional players have mushroomed thanks to low-entry barriers. India now has over 47 OTT platforms across languages like Haryanvi etc in addition to multiple options in South languages. “The acquisition cost of new customers is very high, and their churn is also very high,” Archana Anand, chief business officer of ZEE5 Global said at an event in November. The average cost of customer acquisition for an OTT platform currently ranges from ₹250 to ₹650, as per Jain. “The growth rate of paid subscriptions decreased by about 20% in 2022 from its peak during the pandemic. Moreover, users are now frequently activating and deactivating subscriptions,” he sums up. Mukherjee too says that there would be consolidation in the sector. “A lot of newer and smaller players will survive only on the aggregator model. And large players and established language players will be able to go on independently,” he believes. Even when it’s becoming difficult to acquire customers, OTT players are having to spend heavily on new shows. In 2022, where spending on original shows alone ranged from $600-700 million, which does include the cost of acquiring movies etc. Most OTT players are now stuck between a rock and a hard place — having to keep churning out new and interesting content for viewers who are not swelling as fast. (This is an article in the ‘Boom to Bust’ series which will discuss post-pandemic trends.)

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