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<keyword id="155869" type="General" weightage="20" keywordseo="Aviation-watchdog" source="Orion">Aviation watchdog</keyword> <keyword id="19899185" type="General" weightage="20" keywordseo="dgca" source="keywords">DGCA</keyword> on Friday imposed a fine of Rs 80 lakh on <keyword id="19896871" type="General" weightage="100" keywordseo="air-india" source="keywords">Air India</keyword> for violations of norms related to <keyword id="8400738" type="General" weightage="20" keywordseo="flight-duty-time-limitations" source="Orion">flight duty time limitations</keyword> and <keyword id="21053584" type="General" weightage="20" keywordseo="fatigue-management-system" source="Orion">fatigue management system</keyword> of flight crew. The decision came after the <keyword id="6354705" type="General" weightage="20" keywordseo="Directorate-General-of-Civil-Aviation" source="Orion">Directorate General of Civil Aviation</keyword> (DGCA) conducted a spot audit of Air India in January, during which evidence was collected and fleet-wise random reports were analysed. "The analysis of reports and evidence revealed that <keyword id="20879472" type="General" weightage="20" keywordseo="air-india-limited" source="keywords">Air India Limited</keyword> operated flight(s) with both flight crew aged above 60 years flying together in a few instances. "... the operator was also found deficient in providing adequate weekly rest, adequate rest before &amp; after ultra-long range flights and adequate rest on layover to the flight crew, which violates the extant provisions of the <keyword id="20777683" type="General" weightage="20" keywordseo="civil-aviation-requirements" source="keywords">Civil Aviation Requirements</keyword> pertaining to FDTL," the regulator said in a release. Further, the DGCA said there were instances of exceeding duty periods, wrongly marked training records and overlapping duties. On March 1, the regulator issued a show cause notice to Air India with respect to the violations. "The operator submitted its response to the show cause notice, which was not found satisfactory. Pursuant to the non-satisfactory response submitted by the operator, a fine of Rs 80,00,000 has been imposed on the operator," the release said.

Aviation regulator DGCA slaps Rs 80 lakh fine on Air India

New Delhi, Feb 28 () Markets regulator Sebi on Friday imposed a total penalty of Rs 80 lakh on 16 entities for conducting fraudulent trading in the scrip of Mapro Industries Ltd.The order follows a probe by Sebi into the trading in the company shares between July 2014 and November 2014. Sebi, from the trading pattern of the entities, noted that the entities manipulated the share price of the company by contributing positively to the LTP (last traded price) which consequently led to the rise in the price of the scrip.Therefore, the entities have been fined Rs 5 lakh each for violating Prohibition of Fraudulent and Unfair Trade Practices norms. Apart from nine individuals, the entities include Cosmos Distributors, Bhargabi Trading, Jagsakti Tower, Jahman Agency, Ritudhan Marketing, Godavari Real Estate and V.S.G. Leasing and Finance Co. In a separate order, Sebi levied a total fine of Rs 40 lakh on Midfield Industries Ltd its chairman and managing director Madhu Mohan Reddy and executive director Ashok Sagar Mudumba for diverting the funds raised from initial public offer (IPO) of the firm. Out of Rs 59.85 crore of the IPO proceeds, the firm utilized Rs 30.89 crore towards clearing its pre-existing overdraft balance, which was not mentioned in the prospectus. "The Noticees had committed a fraud in diverting the funds raised through IPO and not utilized the money in accordance with the objects of the issue as stated in the prospectus," Sebi said.Separately, Sebi slapped a total fine of Rs 22 lakh on MPF Systems and its senior officials-- Kirti Salvi, Anil Kothari, Aakesh Chopra and Ambrish Barsati Pal for flouting various market norms.It was found that there was failure on the part of the firm to comply with principles of corporate governance and accounting standard leading to misrepresentation of financial statements.Among others, the entities failed to "recover the sundry debts and also failed to file any document to substantiate their submission that they rectify the error made by earlier management," Sebi said. SRS MRMR

Sebi levies Rs 80 lakh fine on 16 entities for fraudulent trading in Mapro Industries' scrip

The Supertech <keyword id="396781" type="General" weightage="100" keywordseo="twin-towers" source="Orion">Twin Towers</keyword> in Noida were blown to bits earlier this week. It collapsed to the ground within 12 seconds like a house of cards and turned into rubble. But its story doesn’t end there. <div type="image" title="The Supertech Twin Towers in Noida were blown to bits earlier this week" msid="93936515" hostid="261" caption="&amp;lt;p&amp;gt;The Supertech Twin Towers in Noida were blown to bits earlier this week&amp;lt;/p&amp;gt;"></div> As India saw its largest <keyword id="6367653" type="General" weightage="20" keywordseo="demolition" source="Orion">demolition</keyword> to date, a sea of dust enveloped the neighbourhood as the mangled iron dropped to the ground. The <a href="https://twitter.com/ANI/status/1563814230070947840">demolition</a> followed an <a href="https://www.businessinsider.in/thelife/news/two-high-rise-apartment-buildings-that-were-constructed-illegally-have-been-blown-up-by-authorities-in-india/articleshow/93838929.cms">order </a>from the Supreme Court last year after a lengthy legal battle. The towers were found to have violated multiple building regulations and fire safety norms. The nearly 100-metre-high Twin Towers, taller than the city’s Qutub Minar, stood tall in the Emerald court compound for years and it has now left behind<a href="https://www.reuters.com/world/india/families-near-indian-skyscraper-demolition-site-vacate-homes-2022-08-28/"> 80,000</a> tonnes of <keyword id="44114" type="General" weightage="20" keywordseo="debris" source="Orion">debris</keyword> for the authorities to deal with. <div type="image" title="The towers were found to have violated multiple building regulations and fire safety norms" msid="93936523" hostid="261" caption="&amp;lt;p&amp;gt;The towers were found to have violated multiple building regulations and fire safety norms&amp;lt;/p&amp;gt;"></div> How vast is the sea of debris? The unoccupied Apex and Ceyane towers with 32 and 29 storeys respectively turned into 35,000 cubic metres of rubble, approximately 80,000 tonnes. Before the big blast, all walls and brickwork had been removed, leaving only the concrete exterior. The two towers had 915 flats in total and Supertech stood to have <a href="https://www.businessinsider.in/thelife/news/two-high-rise-apartment-buildings-that-were-constructed-illegally-have-been-blown-up-by-authorities-in-india/articleshow/93838929.cms">made </a>₹1,200 crore if all were sold. What happens to the leftovers? As per the <a href="https://www.ndtv.com/india-news/india-has-joined-100-metre-building-demolition-club-foreign-brain-behind-noida-twin-tower-success-3295459">Edifice’s debris management plan</a>, around 50,000 tonnes of the debris has been absorbed in the basements of the erstwhile towers and the remaining of it would be disposed of in 90 days. Some of it will be reused and recycled. As per media <a href="https://www.businessinsider.in/thelife/news/two-high-rise-apartment-buildings-that-were-constructed-illegally-have-been-blown-up-by-authorities-in-india/articleshow/93838929.cms">reports</a>, the demolition cost ₹20 crore, a quarter of which will be borne by builders Supertech. Not only did the demolition need a huge investment, but it would also affect the environment. Aftermath of <keyword id="12258952" type="General" weightage="20" keywordseo="Twin-Towers-demolition" source="Orion">Twin Towers demolition</keyword>: High water consumption and air pollution The Ramky group has started the cleaning work to remove the dust and soil accumulated on the ground. Over <a href="https://weather.com/en-IN/india/news/news/2022-08-30-45-lakh-litres-water-used-after-noida-twin-tower-demolition">450 tankers of water </a>have been used to make neighbouring <keyword id="4838195" type="General" weightage="80" keywordseo="supertech-emerald" source="Orion">Supertech Emerald</keyword> and ATS societies dust-free. Approximately 45 lakh litres of water has been <a href="https://weather.com/en-IN/india/news/news/2022-08-30-45-lakh-litres-water-used-after-noida-twin-tower-demolition">sprayed </a>to control the dust with anti-smog guns. The dust has gathered on trees, windowpanes and roads. If the cleaning work is delayed, this dust could <a href="https://weather.com/en-IN/india/news/news/2022-08-30-45-lakh-litres-water-used-after-noida-twin-tower-demolition">lead </a>to eye irritation, respiratory problems and skin diseases. The Indian authorities used 3,700 kilos or 8,100 pounds of<a href="https://www.businessinsider.in/thelife/news/two-high-rise-apartment-buildings-that-were-constructed-illegally-have-been-blown-up-by-authorities-in-india/articleshow/93838929.cms"> explosives</a> that included solar coal, electric detonators, shock tubes and emulsions. The gunpowder used in this blast, and cement particles are also scattered in the air. As per Central Pollution Control Board (CPCB), in Delhi, <a href="https://timesofindia.indiatimes.com/city/delhi/construction-dust-open-waste-dumping-top-polluting-activities/articleshow/67445201.cms">construction </a>dust is a top polluter. After the demolition of the Twin Towers, on August 28, Noida’s air quality was marked in yellow, which means it was of poor quality that caused breathing discomfort to people with lungs, heart diseases and asthma. As per the report, very small particles found in dust and smoke (PM10), and fine particulate matter (PM2.5) were the prominent pollutants in Noida. <div type="image" title="Air Quality Index in Noida after Twin Towers demolition" msid="93936580" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;em&amp;gt;Air Quality Index in Noida after Twin Towers demolition &amp;lt;/em&amp;gt;&amp;lt;/p&amp;gt;"></div> What are India’s rules on construction and demolition waste management? Inadequately managed waste disposal can affect the environment. In a bid to repurpose urban waste, the <a href="https://cpcb.nic.in/openpdffile.php?id=TGF0ZXN0RmlsZS8xNTlfMTQ5NTQ0NjM5N19tZWRpYXBob3RvMTkyLnBkZg">Centre </a>released rules and regulations to handle construction and demolition waste in 2016. As per the <a href="https://cpcb.nic.in/openpdffile.php?id=TGF0ZXN0RmlsZS8xNTlfMTQ5NTQ0NjM5N19tZWRpYXBob3RvMTkyLnBkZg">Construction and Demolition</a> (C &amp; D) Waste Management Rules, 2016, authorities are required to use recycled products in the best possible manner and make provision for giving incentives for use of material made out of construction and demolition waste in the construction activity including in non-structural concrete, paving blocks, lower layers of road pavements, colony and rural roads. <a href="https://cpcb.nic.in/displaypdf.php?id=d2FzdGUvQyZEX3J1bGVzXzIwMTYucGRm">CPCB </a>norms include segregating construction debris into steel, concrete and iron and depositing it at a collection centre, a ban on dumping them in the open or on the road, and the mandatory use of water sprinklers to suppress dust and, thereby, pollution. Every waste generator is <a href="https://cpcb.nic.in/displaypdf.php?id=d2FzdGUvQyZEX3J1bGVzXzIwMTYucGRm">required </a>to pay relevant charges for collection, transportation, processing and disposal as notified by the concerned authorities. After segregation, the waste is to be deposited at the collection centre and/or to be handed to an authorised processing facility. The authorities are required to ensure that there’s no littering on roads that could cause traffic. The waste is not to be burned, buried or thrown into drains or water bodies. What happens next? Of the 80,000 tonnes of construction waste left behind by the Twin Towers, 30,000 will be removed and recycled. The remaining 50,000 tonnes will be used to lay the foundation of the proposed <a href="https://timesofindia.indiatimes.com/city/noida/where-twin-towers-stood-a-sprawling-garden-next/articleshow/93843931.cms">garden</a>. However, it won’t be until the next four months that the residents of Emerald court will get to see green pastures in the place of a giant grey rubble. Here's a small video <div type="image" title="Simply Put: What happens to the Twin Towers’ 80,000 tonnes of debris?" msid="93936592" hostid="261" caption="&amp;lt;p&amp;gt;Simply Put: What happens to the Twin Towers&amp;#8217; 80,000 tonnes of debris? &amp;lt;/p&amp;gt;"></div>

SIMPLY PUT: What happens to the Twin Towers’ 80,000 tonnes of debris?

New Delhi, Jan 24 () Markets regulator Sebi has levied a penalty of Rs 18.80 lakh on Scan Steels Ltd for indulging in fraudulent trading in the stock options segment of the BSE.
 The matter pertains to a probe conducted by the regulator between April 2014 and September 2015 after observing large scale reversal of trades in stock options segment of the BSE by certain entities including Scan Steels that led to creation of artificial volume.
 The probe found that the trades executed by the company "were not genuine trades and being non-genuine, created an appearance of artificial trading volumes" in the stock options contracts.
 It further noted that Scan Steels has entered into 324 non-genuine transactions in 113 stock option contracts which demonstrates the repetitive nature of the default on its part and by executing such trades, the company violated the provisions of PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) norms.
 Consequently, the Securities and Exchange Board of India (Sebi), in an order passed on Thursday, imposed "a penalty of Rs 18.80 lakh on the noticee viz Scan Steels Limited".
 In a separate order on Friday, the regulator imposed a fine of Rs 5 lakh on Viju Babulal Jain, one of the directors of ShivamShree Business Ltd, for violating insider trading norms.
 Sebi observed that from November 6, 2015, Jain started disposing of his shareholding and on November 27, 2015 the value of the disposed holding was over Rs 14.47 lakh, thus exceeding Rs 10 lakh.
 Jain was required to make the disclosure to the company about the number of securities disposed of within two trading days. However, no such disclosure was made by him and thus violated the PIT (Prohibition of Insider Trading) norms.
 Being one of the directors of the company, Jain was an insider who is not allowed to take opposite position of his own trades within six months of the transaction without getting explicit relaxation from the compliance officer with proper reason.
 In this case, Jain bought and sold shares within six months without obtaining a proper reasoned relaxation from the compliance officer and made of profit of more than Rs 1 lakh. By this, he violated the code of conduct adopted by the company for insider trading. AST SP ANU

Sebi fines Scan Steels Rs 18.8 lakh for fraudulent trading

New Delhi, Nov 22 () Markets regulator Sebi on Friday levied a fine totalling Rs 80 lakh on Aplaya Creations Ltd, three of its officials and two other entities for conducting fraudulent trading in the scrip of the firm.
 Officials of Aplaya Creations include Managing Director Ramawtar Gupta and Director and Chief Financial Officer Pramod Kumar Gupta.
 The order follows an investigation conducted between April 2014 and July 2015.
 Sebi during the investigation found that the firm had come out with preferential allotment and thereafter, the price of the scrip was artificially manipulated by Maheswari Financial Services Pvt Ltd and Vemuri Finvest Pvt Ltd by frequently putting sell orders over the last traded price.
 At a subsequent stage, the preferential allottees were provided exit at the manipulated price by the exit providers.
 "These acts of preferential allotment, price manipulation and subsequent providing of exit constitutes a scheme. The scheme has in effect resulted in benefit to the preferential allottees," as per the Sebi order.
 Sebi concluded that "the company had come out with preferential allotments and had devised a scheme to manipulate the price of the scrip to benefit the preferential allottees."
 While levying fine on the officials, Sebi said "every person who at the time the offence was committed was in charge of, and was responsible to, the company for the conduct of the business of the company, as well as the company, shall be deemed to be guilty of the offence."
 Consequently, a fine of Rs 15 lakh on Aplaya Creations, Rs 10 lakh each Ramawtar Gupta and Pramod Kumar Gupta, Rs 20 lakh on Maheswari Financial Services Pvt Ltd and Rs 25 lakh Vemuri Finvest Pvt Ltd was imposed by Sebi. SRS HRS

Sebi fines Aplaya Creations, its officials and 2 other entities for fraudulent trading

New Delhi, Dec 31 () Market regulator Sebi has slapped a total fine of over Rs 14.4 crore on five entities, an amount twice the ill-gotten gains made by them while fraudulently trading in the scrip of Sunteck Realty Ltd.
 Of these, the two entities-- Jitendra Joshi and Shripal Shares and Securities Ltd-- that have incurred losses are facing a fine of Rs 5 lakh each.
 The entities have been penalised for executing circular trades among themselves, thereby violating Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) norms.
 By trading in the scrip of the firm, the entities made a combined profit of over Rs 7.24 crore.
 The matter pertains to a probe conducted by Sebi between April 2007 and August 2008 on receipt of an alert in its surveillance system with regard to the price movement and trading pattern in the scrip of Sunteck Realty.
 Sebi noted that scrip price of the realty firm rose from Rs 494.05 on April 02, 2007 to Rs 579.4 on April 30, 2007 and further increased to Rs 1,630.9 on October 31, 2007. It touched a high of Rs 1,957.1 on November 21, 2007 and closed at Rs 1,725 on December 31, 2007. The scrip closed at Rs 1,427.25 on August 31, 2008.
 It found that the entities --Chiranjilal Jayaram Vyas, Namdeo H. More, Kishore Bhikaji Giri, Deendayal M. Bohara, Kishorilal Amrutlal Bissa, Jitendra Harivansh Joshi and Shripal Shares and Securities Ltd-- executed circular trades among themselves.
 They transferred shares through off-market route to a large number of other entities, who then sold the shares in the market so as to give an impression of widespread trading in the scrip of Sunteck. This contributed significantly to the market volume as well as price rise in the scrip, Sebi said.
 "In the present case, the Noticees, which are found to be connected to each other, contributed significantly to the market volume in the scrip of Sunteck during the period of investigation, which was as high as around 75-80 per cent in four months," it added.
 Sebi noted that Chiranjilal Vyas made a profit of nearly Rs 3.53 crore, Namdeo More gained over Rs 2.69 crore, Kishore Giri gained Rs 62 lakh, Deendayal Bohara made a profit of Rs 35.4 lakh and Kishorilal Bissa gained Rs 4.47 lakh.
 While imposing the fine for violating PFUTP norms, Sebi said a penalty amount twice the ill-gotten gains may be appropriate and levied a total fine of Rs 14,48,18,966. SRS SHW
SHW

Sebi levies over Rs 14 cr fine on seven entities for fraudulent trading in Sunteck Realty scrip

The <keyword id="19906063" type="General" weightage="100" keywordseo="ipl" source="keywords">IPL</keyword> mega auction 2024 kickstarted at 3 pm today at the Abady Al-Johar arena in Jeddha, Saudi Arabia. It will continue till tomorrow, and viewers can tune into Star Sports network on television and the JioCinema App. A total of 574 players were released by the respective franchise ahead of the mega auction. Of the 574 players, 366 are Indian, while 208 are overseas, including three from associate nations. The auction will see 318 Indian uncapped players and 12 uncapped overseas players in contention. There are 204 slots available, with 70 reserved for overseas players. The highest reserve price is set at Rs 2 crore, with 81 players opting for this bracket. The largest segment comprises players with a base price of Rs 30 lakh, totalling 320. The first set includes <keyword id="19904097" type="General" weightage="20" keywordseo="shreyas-iyer" source="keywords">Shreyas Iyer</keyword>, Rishabh Pant, and Arshdeep Singh, while the second features KL Rahul, <keyword id="20038368" type="General" weightage="20" keywordseo="yuzvendra-chahal" source="keywords">Yuzvendra Chahal</keyword>, Mohammed Shami, and Mohammed Siraj. The overseas marquee players are Mitchell <keyword id="19928915" type="General" weightage="20" keywordseo="starc" source="keywords">Starc</keyword>, Jos Buttler, Liam Livingstone, David Miller, and Kagiso Rabada. Several teams will deploy Right-to-Match (RTM) cards during the auction. The Kolkata Knight Riders (KKR) and Rajasthan Royals (RR), having retained six players each--the maximum allowed--will not have any RTM cards. Punjab Kings (PBKS) hold four RTMs, Royal Challengers Bengaluru (RCB) three, and Delhi Capitals (DC) two. Chennai Super Kings (CSK), Gujarat Titans (GT), Lucknow Super Giants (LSG), and Mumbai Indians (MI) each have one RTM. RTM cards enable teams to buy back released players by matching the highest bid. In this auction, the team with the highest bid can increase their offer once more, after which the team holding the RTM card can match the final bid to secure the player. The IPL 2025 Mega Auction promises to deliver high-stakes action, with marquee players and strategic manoeuvres set to enthral cricket fans. A total of 12 marquee players, including Indian stars like Shreyas Iyer, Rishabh Pant and KL Rahul have created a lot of buzz within the cricket fraternity. A total of 574 players have been shortlisted from an initial pool of 1,574 names. These players will go under the hammer from November 24-25 in Jeddah. The list includes 208 overseas players, 12 uncapped overseas talents, and 318 uncapped Indian players, according to Wisden. Here is a look at all the marquee players who will be going under the hammer: Jos Buttler (England) Buttler is one of finest white-ball batters of this generation, with 11,929 runs, eight centuries and 83 fifties to his name in 427 T20s. A T20 World Cup-winning captain for England, Buttler made a name for himself in the IPL during his stint with Rajasthan Royals (RR) from 2018 to 2024. For RR since 2018, Buttler scored 3,055 runs at an average of 41.84 and a strike rate of 147.79, with 7 centuries and 18 fifties. His best score was 124. He is the team's third-highest run-getter of all time. The IPL 2022, in which RR finished as runners-up, was the zenith of Buttler's career, as he ended up on the top of run-scoring charts, with 863 runs in 17 matches at an average of 57.53 and a strike rate of over 149, with four centuries and four fifties. His best score was 116. In the last season, Buttler scored 359 runs in 11 matches at an average of 39.88, with two centuries. Buttler also represented Mumbai Indians (MI) from 2016-17, scoring 527 runs in 24 matches with one half-century. He won the title with them in 2017. Shreyas Iyer (<keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>) Iyer has played all formats for India, proving his mettle mostly in ODI cricket, where he averages 47 and has scored five centuries and 18 fifties in 57 ODIs. In 51 T20Is for India, Iyer has scored 1,104 runs at an average of 30.66 and a strike rate of over 136, with eight half-centuries and best score of 74*. During his time with Delhi Capitals (2015-21), he earned a reputation as a fierce young leader, taking DC to finals in 2021. After joining Kolkata Knight Riders (KKR) in 2022, Iyer went one step further and won the franchise its third IPL title, its first in 10 years, this year. Throughout the season, Iyer along with mentor Gautam Gambhir, led the team's aggressive, high-scoring brand of cricket from the front. In his IPL career, Iyer has scored 2,375 runs at an average of 31.67, with a strike rate of 123.96 and 16 half-centuries. His best score is 96. In his last season for KKR, he scored 351 runs in 15 matches at an average of 39.00 and a strike rate of over 146, making two fifties. Rishabh Pant (India) The swashbuckling wicketkeeper-batter is an all-format for India and a livewire on the field. Having proven himself as a man for big stages in Test cricket, Pant's T20 game is just as solid. Though he has scored 1,209 runs in 76 T20Is at an underwhelming average of 23.25, strike rate of almost 128 and just three fifties, his overall T20 numbers are way better, having made 5,022 runs in 202 matches at an average of 31.78, strike rate of over 145, with two centuries and 25 fifties. Pant has represented Delhi Capitals (DC) for his entire IPL career since 2016, scoring 3,284 runs in 110 matches at an average of 35.31, with a century and 18 fifties. He was appointed as the team's captain in 2021 and led them to playoffs in the same season. During this last season, which marked his return from competitive cricket after a serious road accident in 2022-end, Pant scored 446 runs in 13 matches at an average of 40.54 and a strike rate of 155.40, with three fifties and best score of 88*. He was the leading run-scorer for DC. Kagiso Rabada (South Africa) The South African pacer is among the best in the world, having taken 71 wickets in 65 T20Is. He is the part of the SA team which reached the T20 World Cup finals this year and took 13 wickets in nine matches. Rabada has played T20 leagues and competitions worldwide and taken 264 scalps in 211 matches. In the IPL, Rabada has represented Delhi Capitals and Punjab Kings, having taken 117 wickets in 80 matches. With PBKS from 2022-2024, he took 41 wickets in 30 matches while with DC from 2017-2021, he took 76 wickets in 50 matches. In 11 matches last season for Punjab Kings, he took 11 wickets at an average of 33.81. Arshdeep Singh (India) A brilliant left-arm pacer for his swing and wicket-taking abilities, Arshdeep has represented India in 59 T20Is and has already taken 92 wickets at an average of 18.47, making him the most successful pacer for India in T20Is and their second-highest wicket-taker of all-time despite debuting only in 2022. The youngster was a crucial part of India's T20 WC winning squad this year and was the joint-highest wicket-taker in the tournament with 17 wickets in eight matches at an average of 12.47. Since 2019, the year of his IPL debut, Arshdeep has represented the Punjab Kings in 65 matches, taking 76 wickets at an average of 27.00 and best figures of 5/32. The season this year was his strongest-ever showing, taking 19 wickets in 14 matches at an average of 26.58. Mitchell Starc (Australia) A multi-time world champion with Australia across all formats, Starc is considered as one of the deadliest pacers of this era, having taken 681 wickets in 281 matches. In 65 T20Is for Australia, he has taken 79 wickets at an average of 23.81. in 142 T20Is played worldwide, he has taken 193 wickets at an average of 20.59 and best figures of 4/15. After two seasons with Royal Challengers Bengaluru (RCB) from 2014-15, Starc made his IPL return this year as the most expensive player ever, brought by Kolkata Knight Riders (KKR) for Rs 24.75 crores. Though he delivered mixed returns during the league stage, the 'Big Match Starc' came into play during playoffs, delivering outstanding spells of 3/34 and 2/14 against <keyword id="19959099" type="General" weightage="20" keywordseo="sunrisers-hyderabad" source="keywords">Sunrisers Hyderabad</keyword> (SRH) in the Qualifier 1 and final. He ended the season with 17 wickets in 14 matches at an average of 26.12 including a four-wicket haul. So far in his IPL career, Starc has taken 51 wickets in 41 matches. Yuzvendra Chahal (India) The Indian spin veteran is the chart-topping bowler, owning the most wickets by an Indian in T20is and by any bowler in the IPL. In the IPL, Chahal has taken 205 wickets in 160 matches at an average of 22.44, with best figures of 5/40. In 80 T20Is he has taken 96 wickets at an average of 25.09 with best figures of 6/25. Also in all of T20s, he has taken 354 wickets in 305 matches, the most by an Indian bowler. Chahal remains the leading wicket-taker for Royal Challengers Bengaluru (RCB), even after departing in 2021 following a tenure that began in 2014. In 113 matches for RCB, he took 139 wickets at an average of 22.03, with a best of 4/25. Since joining Rajasthan Royals (RR) in 2022, Chahal has helped the team reach the playoffs twice in three seasons. He is also the leading wicket-taker in IPL history, amassing 205 wickets in 160 matches at an average of 22.44, with a best of 5/44. He won the Purple Cap in 2022, his debut season with RR, securing 27 wickets in 17 matches at an average of 19.51, with best figures of 5/40. During the 2024 season, he took 18 wickets in 15 matches at an average of 30.33. Liam Livingstone (England) A T20 World Cup-winning all-rounder, Liam has scored 877 runs in 53 T20Is at an average of 27.40 and a strike rate of almost 152, with a century and two fifties. With his useful right-arm spin, he has taken 32 wickets at an average of over 23, with best figures of 3/17. He owns the record for fastest T20I ton by an England player, in just 42 balls. The batting all-rounder has played for Rajasthan Royals (RR) and Punjab Kings (PBKS) since his tournament debut in 2019, scoring 939 runs in 39 matches at a strike rate of 162.46 and six fifties. He has also taken 11 wickets. His best has come with Punjab, who signed him for Rs 11.5 crores ahead of the 2022 season, which proved to be his breakthrough, scoring 437 runs in 14 matches with four fifties and a strike rate of 182.08 and getting six wickets in 14 matches. In the last season, Livingstone scored 111 runs in seven matches at an average of 22.20, striking at over 142 and having the best score of 38*. David Miller (South Africa) An elite T20 finisher, Miller is considered as one of the modern white-ball greats for South Africa. In 128 matches for Proteas, he has made 2,473 runs at an average of 32.54, striking at almost 140, with two centuries and seven fifties. In the IPL, Miller is known for his stints with Punjab Kings, Rajasthan Royals and Gujarat Titans. His stint with Punjab from 2012-19 made him a valuable IPL commodity, as he enjoyed his peak years from 2013-15, reaching the finals in 2014. After a few years' of underwhelming performances and being benched, GT placed trust in his finishing abilities and he repaid the faith with a 481-run season in 16 matches with two fifties, playing a crucial role in the team's title win in his debut season. Miller is also known for his fine performances in knockout games. In 41 matches for GT, he has scored 950 runs at an average of 45.24, with three fifties in 38 innings and a strike rate of 145.26. In the last season, he scored 210 runs at an average of 35.00 and a strike rate of over 151, with a half-century. KL Rahul (India) A versatile batter for India across all formats. He can open, bat in middle-order, anchor and accelerate. A highly capable wicketkeeper-batter as well. He is India's fourth-highest run-getter in T20Is, scoring 2,265 runs in 72 matches at an average of 37.75, striking at almost 140 with two centuries and 22 fifties to his name. In 132 IPL matches since his debut in 2013, KL has played for Sunrisers Hyderabad, Royal Challengers Bengaluru, Punjab Kings and Lucknow Super Giants, even going on to captain the latter two teams. In 132 matches, he has scored 4,683 runs at an average of 45.47 and a strike rate of 134.61, with four centuries and 37 fifties. For LSG since 2022, he has scored 1,410 runs at an average of 41.47, with a strike rate of 130.68, two centuries and 10 fifties. He has never won an IPL title. In 14 matches last season, he scored 520 runs at an average of 37.14 and a strike rate of 136.12 and four half-centuries. His best score was 82 and he ended up as seventh-highest run-getter in the season. Mohammed Shami (India) The Indian pace veteran has represented India in all formats, having taken 448 wickets in 188 matches. His finest hour in an Indian jersey came during the 50-over World Cup at home last year, where he emerged as the leading-wicket-taker with 24 wickets in just seven matches and played a crucial role in India's runners-up finish. In IPL, Shami has played for Delhi Capitals, Punjab Kings, Kolkata Knight Riders and Gujarat Titans. He has taken 127 wickets in 110 matches at an average of 26.86. Shami was the Purple Cap holder for most wickets in GT's 2023 runners-up season and has taken 48 wickets in 33 matches at an average of 21.04 for the team. This also remains his last IPL season as he missed the previous season due to an ankle injury. Mohammed Siraj (India) Siraj is a solid all-format pacer for India, having taken 165 wickets across 91 matches, with a lot of match-winning performances in overseas Tests. He is the ICC T20 World Cup 2024 winner with the team. In his IPL career, he has played for Sunrisers Hyderabad and Royal Challengers Bengaluru (RCB) from his debut in 2017, taking 93 wickets in 93 matches at an average of 30.34. Since 2018, he has been a vital part of RCB's pace attack, having taken 83 wickets in 87 matches at an average of 31.45 and best figures of 4/21. In the last season this year, he took 15 wickets in 14 matches at an average of 33.07, playing a crucial role in the team's inspirational playoffs qualification. (ANI) A total of 1,574 players will go under the hammer in the upcoming IPL 2025 mega auction in Jeddah, Saudi Arabia on Sunday and Monday which includes 1,165 Indian players and 409 overseas players, all competing for a place in the world's premier T20 league. The comprehensive list of registered players features 320 capped players, 1,224 uncapped players, and 30 players from Associate Nations. Specifically, the breakdown includes 48 capped Indian players, 272 capped international players, 152 uncapped Indian players who previously played in IPL seasons, 3 uncapped international players with prior IPL experience, 965 uncapped Indian players, and 104 uncapped international players. Among the 409 overseas players, Australia leads with 76 registrations, followed by South Africa with 91, and England with 52. Other notable countries include New Zealand with 39, West Indies with 33, Afghanistan and Sri Lanka with 29 each, and the USA with 10 players. Players from Bangladesh (13), Ireland (9), Canada (4), Netherlands (12), Zimbabwe (8), Scotland (2), UAE (1), and Italy (1) have also registered. With each of the ten IPL franchises able to fill a maximum squad of 25 players, 204 slots will be available at the IPL 2025 player auction. The event promises to be highly competitive as teams build their rosters for the next three years.

IPL 2025: What can you expect from the mega auction at Jeddah in Saudi Arabia?

<ul><li>As the new financial year starts, there are quite a few changes in tax and other rules that one should know about.</li><li>Let’s take a look at the new rules effective from April 1.</li><li>Check out our <a href="https://www.businessinsider.in/bi-newsletter">weekly explainers</a> on the hottest topics and <a href="https://www.businessinsider.in/newsletters_signup.cms">sign up</a> if you like them.</li></ul>With the start of the new financial year, there are several changes in regards to taxation, deduction and investments that are to be effective from April 1, 2022. Let’s take a look at the new rules that have been introduced for new fiscal year: <keyword id="12151324" type="General" weightage="20" keywordseo="crypto-tax" source="Orion">Crypto tax</keyword> The government has finally introduced tax on virtual digital assets (VDA) or cryptocurrencies including non-fungible tokens (NFT). According to the <keyword id="1038456" type="General" weightage="20" keywordseo="new-rule" source="Orion">new rule</keyword>, profits made on crypto assets will attract 30% tax and 1% tax deducted at source (TDS). This will apply even if your taxable income is below ₹2.5 lakh. Non-KYC penalty If you have not linked your PAN and Aadhaar till now, you will face a fine up to ₹1,000, according to the Central Board of Direct Taxes. Besides, providing an invalid PAN will also attract fines up to ₹10,000. PF tax According to the notification by the Central Board of Direct Taxes, interest on the provident fund (PF) contribution of an employee above ₹2.5 lakh in a year will be taxed from April 1. LTCG From today, April 1, the surcharge on long-term capital gains on all types of assets will be capped at 15%. Removal of benefit under section 80EEA Buying a home may become more expensive for a common man now as from April 1 2022, the government has stopped income tax benefit under Section 80EEA. Section 80EEA is available for first time home buyers with stamp duty value of the property up to ₹45 lakh for an additional deduction of ₹1.5 lakh. ITR filing If you have failed to file your income tax return by March 31, 2022, then you are liable for a penalty. Taxpayers who have an annual income of more than ₹5 lakh shall pay a fine of ₹5000 (on taxable income) if they do not file belated tax returns. For those whose income is less than ₹5 lakh, the fine will be ₹1,000 (on taxable income). SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/after-byjus-and-unacademy-vedantu-is-looking-at-offline-centers/articleshow/90584769.cms">Exclusive: After Byju’s and Unacademy, Vedantu is looking to start offline centres</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/upcoming-new-cars-and-suv-in-april-2022/slidelist/90587227.cms">Upcoming cars expected to launch in April 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/crude-oil-price-on-a-falling-spree-as-us-to-release-emergency-oil-reserve/articleshow/90582811.cms">Crude oil price on a falling spree as US to release emergency oil reserve to control energy costs</a>

These are the new changes in taxation that have kicked in from April 1

<ul><li><keyword id="16051550" type="General" weightage="100" keywordseo="paradyes" source="Orion">Paradyes</keyword> claims to be India’s first semi-permanent hair colour brand that offers hair colours that last for 8-10 washes. </li><li>Peyush Bansal called it a business that can create a category. </li><li>Paradyes founders received many lucrative offers, but accepted a lower offer to bring the right sharks into their company – <keyword id="246967" type="General" weightage="50" keywordseo="vineeta-singh" source="Orion">Vineeta Singh</keyword> and Aman Gupta. </li></ul>Few products pitched on Shark Tank Season 2 courted as much attention from the sharks as Paradyes — India’s first semi-permanent hair colour brand. Inspired by her own experiments with hair colouring, 26-year-old <keyword id="16064005" type="General" weightage="80" keywordseo="yushika-jolly" source="Orion">Yushika Jolly</keyword> launched Paradyes in March 2021 with her husband, Siddharth Raghuvanshi. Based out of Ahmedabad, Paradyes aims to break myths surrounding hair colour, and go beyond the limited options (primarily browns and reds) available in the market. “There are several myths about the damage that colouring might cause to your hair. We are here to inform our customers and audience about how they can experiment and style their hair without damaging them! Our products are Ammonia-free, Paraben-free, PPD-free, and damage-free,” <a href="https://www.birdsofparadyes.com/pages/our-story">states </a>the company website. In 2019, when the idea for the product first came to Jolly, her brother helped her with the R&amp;D. Jolly’s family is responsible for manufacturing the core raw material and chemicals used globally in hair colour products, and has a turnover of nearly ₹800 crore. Currently, Paradyes provides over 20 hair colours that are affordable, easy-to-apply, safe and don’t require a ‘long-term commitment’. The colour lasts for 8-10 washes, the founders claim. The founders also shared that they aim to expand into the permanent and temporary hair colour categories in the future. Paradyes’ products are currently available on the company website, in online marketplaces like Amazon and Flipkart. They are available offline in over 35 Health &amp; Glow stores. Paradyes has over 80k <a href="https://www.instagram.com/birdsofparadyes/?hl=en">followers on Instagram</a>. <cmsannotation type="cmsannotation" annotationid="Founders receive a rainbow of lucrative offers" comment="subhead2" text="Founders receive a rainbow of lucrative offers">Founders receive a rainbow of lucrative offers</cmsannotation> Jolly, who holds a Bachelor's degree in design from NIFT, is responsible for marketing, packaging and design. Raghuvanshi, who holds an MBA degree from Symbiosis, looks after the financials and operations. The startup raked in sales to the tune of ₹3.5 crore in FY22. Furthermore, it saw a consistent increase in monthly sales (before the episode was shot) — from ₹35 lakh in July to ₹51 lakh in September. The founders asked for an investment of ₹65 lakh for 1% equity, which valued the company at ₹65 crore. Paradyes left the sharks impressed with a robust supply chain and on-brand marketing. It was dubbed a ‘category-creation business’ by Lenskart cofounder, Peyush Bansal. He started the bidding war with an offer of ₹65 lakh for 5% equity, valuing the company at ₹13 crore. This was followed by a joint offer by Shaadi.com founder Anupam Mittal and Sugar Cosmetics cofounder Vineeta Singh, who asked for 4% equity for the same amount, raising the valuation to ₹16.25 crore. Aman Gupta, co-founder of boAt, was the last one to make an offer. While he offered the same terms as Bansal, i.e. ₹65 lakh for 5% equity, he added that he would love to collaborate with Singh. <cmsannotation type="cmsannotation" annotationid="Rejecting a higher offer for the right sharks" comment="subhead2" text="Rejecting a higher offer for the right sharks">Rejecting a higher offer for the right sharks</cmsannotation> After receiving multiple lucrative offers, the founders made an unexpected demand — they requested ₹65 lakh for 3% equity, but from Vineeta Singh and Aman Gupta. Bansal commented that Singh’s company, Sugar Cosmetics, was actually a competitor for Paradyes — a claim that Singh vehemently denied, stating there is a wide difference in the hair products and makeup or cosmetics. Bansal’s offer of ₹65 lakh for 3% equity was matched by Singh and Mittal, with Gupta also joining the two. Bansal rallied on with a counter offer of ₹65 lakh for 1% equity — the original ask by the founders. Gupta offered more than money to the founders. “We’re here to support you. In no other category has an Indian brand pushed out foreign brands from the India market but we (boAt) have. We know how to fight them. Now decide, if you need value or valuation!” commented Gupta. In less than five minutes, the startup’s valuation zoomed from ₹13 crore to ₹65 crore. The overwhelmed founders said that Singh and Gupta had the kind of experience they were looking for. This left a sour taste in Mittal’s mouth — who backed out, stating he doubted the founders’ integrity. Ultimately, Gupta and Singh jointly made an offer of ₹65 lakh for 2% equity, valuing the company at approximately ₹32.5 crore. The founders accepted it even though they had a higher offer from Bansal. <cmsannotation type="cmsannotation" annotationid="‘Dirty game was played, breaking the alliance’" comment="subhead2" text="‘Dirty game was played, breaking the alliance’">‘Dirty game was played, breaking the alliance’</cmsannotation> While Bansal remarked to the founders that it wasn’t the right choice, the founders clarified to both Mittal and Bansal that their intention was never to offend the sharks. “What happened here was that you got to nitpick over what you wanted. And your valuation was raised instantly. But a dirty game was played here — breaking an alliance between two sharks, as Aman and Vineeta did. And then what you did. It was a little messy and dirty,” commented Mittal. At that time, Namita Thapar, executive director at Emcure Pharmaceuticals commented that the founders had every right to choose from the multiple offers available to them. “Let them (founders) do what they think was the right choice for them — why do you have to make them feel guilty about it?” remarked Thapar, who had backed out from investing right at the start. Meanwhile, till the end, Bansal stuck to his guns that Singh’s Sugar Cosmetics would prove to be a competition for Paradyes. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/trumps-company-fined-1-6-million-for-tax-fraud/articleshow/96982732.cms">Trump's company fined $1.6 million for tax fraud</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrencies-equivalent-to-gambling-rbi-governor/articleshow/96982894.cms">Cryptocurrencies equivalent to gambling: RBI Governor</a>

Colour them impressed: A startup so good that sharks had to pitch their expertise to founders

New Delhi, Feb 3 () The new lower income tax rates offered in the Budget 2020-21 will leave more cash in the hands of those who do not wish to make compulsory investments to save tax, said Revenue Secretary Ajay Bhushan Pandey.
 In an interview with , he said the Budget gives an option to individuals to migrate to a new regime by foregoing their existing exemptions and deductions for a lower tax rate.
 "We are not saying which one is beneficial, which one is not beneficial. We have provided an option. We have not put restrictions on anyone. This proposal can only benefit somebody and not harm anybody," he said. "So, in this whole proposal, not a single person will be loser."
 He said taxpayers have an option to stay with the current regime of getting a standard deduction of Rs 50,000 and investing Rs 1.5 lakh in saving schemes and pay 5 per cent, 10 per cent or 30 per cent tax depending on income levels.
 Alternatively, they can migrate to the new regime and pay lower tax rates without having to invest in any instrument to claim exemption, he said.
 In the new regime, 5 per cent tax is levied on an annual income between Rs 2.5 lakh and Rs 5 per cent. The tax rate rises to 10 per cent, 15, per cent, 20 per cent and 25 per cent for every Rs 2.5 lakh addition. A 30 per cent tax is charged for income over Rs 15 lakh.
 "Because the proposal is that we will continue the old scheme and if you find the new scheme attractive, you come or else you don't come. Therefore, there is no scope of confusion or worry," he said.
 Pandey said the taxpayer will have to choose between old and the new regime at the time of filing return for the next financial year, sometime in July 2021.
 "When you file I-T return, there will be a choice. If you say choice 1 then the return form in the new system will open and most of your application will be pre-filled. Then, you make appropriate changes and file I-T (return). If you choose the old system, then only that form will open. It is easier to pre-fill the form under new tax structures," he said.
 He said data show that out of the 5.8 crore individuals who filed income tax returns in the financial year 2018-19, 90 per cent claimed tax deductions of less than Rs 2 lakh, including deductions under Section 80C of the Income Tax Act (for provident fund, PPF, life insurance premium), Section 80D (mediclaim insurance), Section 80CCD(1B) (additional deduction for National Pension Scheme), deduction for housing loan interest and standard deduction.
 "I am not saying it (new scheme) will benefit everyone. It might benefit 30-40 per cent people. But, even if it is benefiting 30 per cent people then also it is a big thing," he said. "We are giving option to those people who are unable to avail exemptions or deductions. Who are these people -- somebody who has just joined job market, someone who has not decided to buy a house, he does not know how much will be savings, he might be putting little money in PF (provident fund) and insurance. He may find that depending on his income, this new scheme is better."
 Similarly, for senior citizens living on a pension and who do not have to buy a house or put money in PF, the new regime would be beneficial, he said.
 The new tax regime is also beneficial for small businessmen and shopkeepers who do not get the benefit of LTC or HRA. 
 "It is not that our objective was to provide benefit to each and every section of the taxpayer. We have provided option and that should be fine," he said adding the new tax rates would lead to a Rs 40,000 crore dent in government revenues in the next financial year.
 Individuals having an annual salary income of over Rs 13 lakh and availing deductions of up to Rs 2 lakh will save on their tax outgo if they opt for the new tax regime proposed in the Budget, government sources said on Sunday.
 For those earning a salary of Rs 12 lakh and less and availing deductions of up to Rs 2 lakh, the old tax system will be beneficial as the tax outgo will be less compared to the proposed new structure.
 While individuals with an annual salary income of Rs 13 lakh and above will pay Rs 1.43 lakh tax under the proposed tax structure; in the old regime, they would have paid a tax of Rs 1.48 lakh, thereby saving Rs 5,200, a source said.
 On a salary of Rs 14 lakh a year, savings would be Rs 10,400; and for those with an income of Rs 15 lakh and above, savings would be Rs 15,600, provided the deductions claimed are up to Rs 2 lakh.
 In the case of non-salary earners, who do not get a standard deduction of Rs 50,000, the new tax structure is beneficial for those earning Rs 9.5 lakh annually and availing deductions up to Rs 1.5 lakh. They would save Rs 5,200 in their annual income tax outgoing. JD ANZ HRS

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