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The <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword> has decided to relax the lock-in requirements for promoter shareholding in terms of initial public offerings (IPO) and further public offerings (<keyword id="46435" type="ORGANIZATION" weightage="20" keywordseo="FPO">FPO</keyword>). In its meeting on Friday, the SEBI board decided that the lock-in of promoters shareholding to the extent of minimum promoters contribution (20 per cent of post issue capital) shall be for a period of 18 months from the date of allotment in IPO/FPO instead of existing three years, if the object of the issue involves only offer for sale and if the object of the issue involves only raising of funds for other than for capital expenditure for a project. Further, the relaxation would be provided also in case of combined offering (fresh issue and offer for sale) if the object of the issue involves financing for other than capital expenditure for a project. In a statement, the SEBI said that in all the conditions, the promoter shareholding in excess of minimum promoter contribution shall be locked-in for a period of 6 months instead of existing 1 year. The lock-in of pre-IPO securities held by persons other than promoters shall be locked-in for a period of 6 months from the date of allotment in IPO instead of existing 1 year, it said. The period of holding of equity shares for Venture Capital Fund or Alternative Investment Fund (AIF) of category I or II or a <keyword id="5183194" type="ORGANIZATION" weightage="20" keywordseo="Foreign-Venture-Capital-Investor">Foreign Venture Capital Investor</keyword> shall be reduced to 6 months from the date of their acquisition of such equity shares instead of existing 1 year. A SEBI consultation paper dated May 11, 2021 had provided detailed rationale for the reduction in lock-in period such as demonstration of skin in the game by promoters, existence of private equity firms and AIFs several years before proposing listing, much less greenfield financing through IPOs, and others. The board also decided to approve the certain measures to reduce the disclosure requirements at the time of IPO. The definition of promoter group shall be rationalised, in case where the promoter of the issuer company is a corporate body, to exclude companies having common financial investors. The disclosure requirements in the offer documents, in respect of group companies of the issuer company, shall be rationalised to, <keyword id="11806650" type="UNKNOWN" weightage="20" keywordseo="inter-alia">inter-alia</keyword>, exclude disclosure of financials of top 5 listed/unlisted group companies. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/indias-first-apple-store-delayed-due-to-covid-19/articleshow/85102306.cms">Launch of India’s first Apple store delayed due to Covid-19</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/apple-pay-and-google-pay-are-coming-to-coinbase-allowing-users-to-buy-cryptocurrencies/articleshow/85096650.cms">Coinbase now lets you purchase crypto via Apple Pay, Google Pay option to arrive soon as well</a>

IPO/FPO: SEBI eases lock-in norms for promoter shareholding

Mumbai, <keyword id="87184" type="DOMAIN" weightage="20" keywordseo="Thomas-Cook">Thomas Cook</keyword> (<keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>) plans to raise up to ₹450 crore through preferential issue of Optionally Convertible Cumulative Redeemable Preference Shares (OCCRPS) to Fairbridge Capital (Mauritius) Limited to the promoter of the company In a regulatory filing the company has said that the "<keyword id="136326" type="COMPANY" weightage="20" keywordseo="Board-of-Directors">Board of Directors</keyword> of the company, at its meeting held today, has, <keyword id="6370698" type="DOMAIN" weightage="20" keywordseo="Inter">inter</keyword> alia, approved the <keyword id="47958" type="PERSON" weightage="20" keywordseo="issuance">issuance</keyword> of up to 45,00,00,000 Optionally Convertible Cumulative Redeemable Preference Shares of face value of ₹10 each to Fairbridge Capital (Mauritius) Limited, the promoter of the company, through private placement on a preferential basis aggregating upto ₹450 crore." The issuance would however be subject to the approval of regulatory or statutory authorities including the <keyword id="6354335" type="COMPANY" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> and the shareholders of the company at the forthcoming Extraordinary General Meeting. Further, it said that as a result of the proposed issue, the board approved the increase in the authorised preference share capital from ₹250 crore to ₹500 crore and consequential changes to the Capital Clause of the Memorandum of Association of the company. For the purpose of giving effect to the above issuance of OCCRPS, the board has authorised a committee to decide on various matters related to issuance of such OCCRPS. SEE ALSO: <a href="https://www.businessinsider.in/entertainment/news/pewdiepies-lyrics-targeting-cocomelon-and-jk-rowling-that-may-have-gotten-youtube-angry-enough-to-pull-the-video-down/articleshow/81102941.cms">PewDiePie's lyrics targeting CocoMelon and JK Rowling may have gotten YouTube angry enough to pull the video down</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-gets-leaner-with-a-300-million-jabong-write-off-as-ceo-kalyan-krishnamurthy-lists-out-the-priorities-for-2021/articleshow/81105083.cms">Flipkart gets leaner with a $300 million Jabong write-off as CEO Kalyan Krishnamurthy lists out the priorities for 2021</a> <a href="https://www.businessinsider.in/stock-market/news/happiest-minds-is-leveraging-its-partnerships-with-big-players-like-google-microsoft-aws-salesforce/articleshow/81105035.cms">Happiest Minds is a smaller company that does the same thing as MindTree and L&amp;T Infotech — but clearly it is doing it a lot better</a> <a href="https://www.businessinsider.in/tech/news/india-may-require-twitter-facebook-and-others-to-remove-unlawful-content-within-36-hours/articleshow/81104740.cms">India may require Twitter, Facebook and others to remove unlawful content within 36 hours</a>

Thomas Cook India plans to raise up to ₹450 crore via preferential issue

<keyword id="143" type="CITY" weightage="100" keywordseo="Bollywood">Bollywood</keyword> has finally come up with a fun-filled, breezy rom-com that features the Gen Y with a genuine frankness and without the traditional trappings of a boy-meets-girl story. But this time, the man is from the North, the woman is from the South and the cultural clashes, strongly upheld by the two pairs of in-laws, nearly ruin the relationship. Inspired by <keyword id="6390428" type="PERSON" weightage="100" keywordseo="Chetan-Bhagat">Chetan Bhagat</keyword>’s best-selling novel, <keyword id="694041" type="UNKNOWN" weightage="100" keywordseo="2-States-The-Story-of-My-Marriage">2 States: The Story of My Marriage</keyword>, the Arjun Kapoor-Alia Bhatt-starrer <keyword id="72970" type="UNKNOWN" weightage="100" keywordseo="2-States">2 States</keyword> sparkles on-screen (at least during the first half) and has made a big bang at the <keyword id="827271" type="UNKNOWN" weightage="100" keywordseo="Domestic-Box-Office">domestic box office</keyword>, collecting around Rs 38 crore nett over its debut weekend. The first Monday (Day 4, April 21) did not disappoint either and earnings stood at around Rs 6 crore, as per Koimoi. Total <keyword id="1996079" type="UNKNOWN" weightage="100" keywordseo="Overseas-collections">overseas collections</keyword> during the first weekend amounted to an estimated Rs 13.66 crore. 
 
“2 States has a FANTABULOUS weekend. Friday Rs 12.42 crore, Saturday 12.13 crore, Sunday 13.51 crore. Total: Rs 38.06 crore nett. SUPER HIT,” tweeted trade analyst Taran Adarsh. According to <keyword id="255727" type="COMPANY" weightage="100" keywordseo="Box-Office-India">Box Office India</keyword>, the film has emerged as the biggest hit of 2014 and has the potential to be the first Super Hit film of the year, depending on how well it can sustain over the next 10 days or so. 
 
Other two releases of the week include <keyword id="1135108" type="UNKNOWN" weightage="100" keywordseo="Dekh-Tamasha-Dekh">Dekh Tamasha Dekh</keyword>, a brutally honest and vitriolic political <keyword id="1462374" type="COMPANY" weightage="100" keywordseo="Satire">satire</keyword> directed by theatre icon Feroz Abbas Khan (of Tumhari Amrita fame), and <keyword id="1167288" type="UNKNOWN" weightage="100" keywordseo="Lucky-Kabootar">Lucky Kabootar</keyword>, a <keyword id="24069" type="UNKNOWN" weightage="100" keywordseo="romantic-comedy">romantic comedy</keyword> starring <keyword id="1364986" type="UNKNOWN" weightage="100" keywordseo="Eijaaz-Khan">Eijaaz Khan</keyword> and <keyword id="3212" type="PERSON" weightage="100" keywordseo="Kulraj-Randhawa">Kulraj Randhawa</keyword>. The latter, directed by <keyword id="1660883" type="UNKNOWN" weightage="100" keywordseo="Shammi-Chhabra">Shammi Chhabra</keyword>, has been released after too many delays and depicts how <keyword id="6369280" type="COMPANY" weightage="100" keywordseo="Lucky">Lucky</keyword> (Eijaaz) ends up marrying the Plain Jane <keyword id="1734" type="PERSON" weightage="100" keywordseo="Laxmi">Laxmi</keyword> (Kulraj), instead of the glam babe <keyword id="190428" type="PERSON" weightage="100" keywordseo="Kammo">Kammo</keyword> (<keyword id="33221" type="PERSON" weightage="100" keywordseo="Shraddha-Das">Shraddha Das</keyword>). But for both the movies, the collections are hardly notable, thanks to very little promotion and near-zero hype. While Lucky Kabootar collected a little over Rs 1 crore in the first two days (Sunday and Monday numbers are still <keyword id="6357415" type="ENTERTAINMENT" weightage="60" keywordseo="missing">missing</keyword>), Dekh Tamasha Dekh garnered around Rs 4.7 crore during the same time span. But we will take a closer look at these two after decoding the tremendous <keyword id="25892" type="ORGANIZATION" weightage="100" keywordseo="box-office">box office</keyword> success of 2 States. 
 
 
 With the <keyword id="6364416" type="COMPANY" weightage="80" keywordseo="Good-Friday">Good Friday</keyword> fervour adding to its charm, <keyword id="2208706" type="UNKNOWN" weightage="100" keywordseo="Abhishek-Varman-directed">Abhishek Varman-directed</keyword> 2 States saw 50-60% occupancy at multiplexes on the first day and also did well in the mass belt. Till date, the best performers are Mumbai and Mysore, with Mumbai amassing over Rs 13 crore nett and Mysore collecting around Rs 3 crore nett. The movie’s opening is the second biggest ever for a non-star-cast film after <keyword id="6621270" type="UNKNOWN" weightage="100" keywordseo="Grand-Masti">Grand Masti</keyword> (2013). <keyword id="127336" type="ENTERTAINMENT" weightage="100" keywordseo="Bhaag-Milkha-Bhaag">Bhaag Milkha Bhaag</keyword> (2013), <keyword id="549195" type="ENTERTAINMENT" weightage="100" keywordseo="Student-of-the-Year">Student Of The Year</keyword> (2012) and <keyword id="1710502" type="UNKNOWN" weightage="100" keywordseo="Shuddh-Desi-Romance">Shuddh Desi Romance</keyword> (2013) are the next in order after 2 States. 2 States is also one of the highest grossers of 2014 and has already surpassed the lifetime collections of some noted <keyword id="569603" type="UNKNOWN" weightage="100" keywordseo="Bollywood-flicks">Bollywood flicks</keyword> including <keyword id="1520199" type="UNKNOWN" weightage="100" keywordseo="Hasee-Toh-Phasee">Hasee Toh Phasee</keyword>, <keyword id="853887" type="UNKNOWN" weightage="100" keywordseo="Shaadi-Ke-Side-Effects">Shaadi Ke Side Effects</keyword>, <keyword id="6354768" type="ORGANIZATION" weightage="100" keywordseo="Highway">Highway</keyword> and <keyword id="1434830" type="UNKNOWN" weightage="100" keywordseo="Yaariyan">Yaariyan</keyword>. That is definitely good news for producers <keyword id="27326" type="PERSON" weightage="100" keywordseo="Sajid-Nadiadwala">Sajid Nadiadwala</keyword> and <keyword id="3778" type="PERSON" weightage="80" keywordseo="Karan-Johar">Karan Johar</keyword>. 
 Going by its <keyword id="1996031" type="UNKNOWN" weightage="100" keywordseo="Box-office-performance">box office performance</keyword>, 2 States seems to have done a commendable job, with <keyword id="6354526" type="UNKNOWN" weightage="100" keywordseo="Alia-Bhatt">Alia Bhatt</keyword> (<keyword id="2204646" type="UNKNOWN" weightage="100" keywordseo="Ananya-Swaminathan">Ananya Swaminathan</keyword>) and <keyword id="114453" type="PERSON" weightage="100" keywordseo="Arjun-Kapoor">Arjun Kapoor</keyword> (<keyword id="2204645" type="UNKNOWN" weightage="100" keywordseo="Krish-Malhotra">Krish Malhotra</keyword>) showing a rare on-screen chemistry that rocks and sizzles. The young people meet at the <keyword id="6429635" type="ORGANIZATION" weightage="100" keywordseo="IIM-Ahmedabad">IIM-Ahmedabad</keyword> campus and fall in love, but it is, by no means, a campus romance as harsh social realities await them outside. And the movie, too, stumbles at that point as we are led to <keyword id="122267" type="UNKNOWN" weightage="80" keywordseo="orthodox">orthodox</keyword> households (Krish is a <keyword id="5105" type="ORGANIZATION" weightage="100" keywordseo="Punjabi">Punjabi</keyword> lad and Ananya is a <keyword id="6356629" type="COMPANY" weightage="100" keywordseo="tamil">Tamil</keyword> lass from Chennai as all of you must know by now), instead of modern abodes housing millennial open culture, and two pairs of stereotype Bollywood parents. The rest of the struggles and tribulations faced by the young lovers follow the beaten path until the final-and-inevitable reconciliation that makes everyone happy. 
 
Interestingly, Bhagat’s work has managed to ward off the cliché that lies inherent in cultural clashes and generation gaps. However, the movie has an overdose of everything although it manages to retain some kind of charm that will keep you hooked. As Saibal Chatterjee of NDTV so rightly pointed out, “2 States is a <keyword id="2208734" type="UNKNOWN" weightage="100" keywordseo="Cross-culture-love-story">cross-culture love story</keyword> that strives to be sweet, funny and emotionally wrenching all at once. It is occasionally funny and sweet in parts all right, but the <keyword id="1204454" type="UNKNOWN" weightage="100" keywordseo="family-drama">family drama</keyword> at the film’s core has a severely stultified feel… It sets out to be a slice-of-life drama about a real couple grappling with the politics of <keyword id="2208729" type="UNKNOWN" weightage="100" keywordseo="Inter-community-marriage">inter-community marriage</keyword>, but it fails to generate enough energy and warmth to draw the audience into a tight clinch.” 
 
In stark contrast to 2 States, Dekh Tamasha Dekh (starring <keyword id="317266" type="PERSON" weightage="100" keywordseo="Vinay-Jain">Vinay Jain</keyword>, <keyword id="2218" type="PERSON" weightage="100" keywordseo="Satish-Kaushik">Satish Kaushik</keyword> and <keyword id="1559" type="PERSON" weightage="100" keywordseo="tanvi-azmi">Tanvi Azmi</keyword>) is based on a true story and ruthlessly reveals a nation’s <keyword id="2208740" type="UNKNOWN" weightage="100" keywordseo="Political-hypocrisy">political hypocrisy</keyword> and <keyword id="877158" type="UNKNOWN" weightage="100" keywordseo="Communal-Disharmony">communal disharmony</keyword> with the help of its twin tools – satire and <keyword id="424300" type="UNKNOWN" weightage="100" keywordseo="Irony">irony</keyword>. Too many human elements are woven here in a complex tapestry, but the very core of <keyword id="6355987" type="ORGANIZATION" weightage="100" keywordseo="violence">violence</keyword>, <keyword id="6388475" type="UNKNOWN" weightage="100" keywordseo="tragedy">tragedy</keyword> and hopelessness would hit us hard and keep us wondering about the multi-layered reality we are compelled to confront every day. Although not a typical art house film, this movie is meant for a niche audience and offers a <keyword id="2208742" type="UNKNOWN" weightage="100" keywordseo="Gripping-tale">gripping tale</keyword> of the <keyword id="911828" type="UNKNOWN" weightage="100" keywordseo="dark-forces">dark forces</keyword> that we are not likely to forget in a hurry. 
 
Images: Indiatimes

Box Office: 2 States Raking
In Big Bucks; Dekh Tamasha Dekh Offers A Gripping Tale

The <keyword id="22366986" type="General" weightage="20" keywordseo="doctor-population-ratio" source="keywords">doctor-population ratio</keyword> in the country is 1:836, which is better than the <keyword id="20522854" type="General" weightage="20" keywordseo="WHO-standard" source="keywords">WHO standard</keyword> of 1:1000, Minister of State for Health Anupriya Patel told the Lok Sabha on Friday. According to the information provided by the <keyword id="20039511" type="General" weightage="100" keywordseo="National-Medical-Commission" source="keywords" meta.keywordsubtype="org" meta.entityname="National Medical Commission" meta.hostid="261" meta.entityid="National Medical Commission">National Medical Commission</keyword> (NMC), there are 13,86,136 <keyword id="20522855" type="General" weightage="20" keywordseo="allopathic-doctors" source="keywords">allopathic doctors</keyword> registered with the State Medical Councils and the National Medical Commission (NMC) as on July, 2024, Patel said in a written reply. "Assuming 80% availability of registered allopathic doctors and around 5.65 lakh <keyword id="20522856" type="General" weightage="20" keywordseo="AYUSH-doctors" source="keywords">AYUSH doctors</keyword>, the doctor-population ratio in the country is around 1:836 which is better than the WHO standard of 1:1000," Patel stated. She also said that there are 731 medical colleges in the country with an annual intake of 1,12,112 <keyword id="20585495" type="General" weightage="20" keywordseo="MBBS-seats" source="keywords">MBBS seats</keyword> as of now. Further, there are 72,627 <keyword id="22645227" type="General" weightage="20" keywordseo="PG-seats" source="keywords">PG seats</keyword> as of date, she said. Measures taken by the government to augment medical education facilities and to improve medical standards include <keyword id="22366985" type="General" weightage="20" keywordseo="Centrally-Sponsored-Scheme" source="keywords">Centrally Sponsored Scheme</keyword> (CSS) for establishment of new medical colleges by upgrading district/referral hospitals, under which 157 new medical colleges have been approved and 109 are already functional. Under the CSS, medical colleges have been upgraded to increase the number of MBBS (UG) and PG seats. Support has been provided for an increase of 4,977 MBBS seats in 83 colleges with an approved cost of Rs 5,972.20 crore, 4,058 PG seats in phase-I in 72 colleges with an approved cost of Rs 1,498.43 crore and 4,000 PG seats in phase-II in 65 colleges with an approved cost of Rs 4,478.25 crore. Besides, under "upgradation of government medical colleges by construction of super specialty blocks" component of Pradhan Mantri Swasthya Suraksha Yojana (PMSSY), 75 projects have been approved, of which 66 projects are complete. Under the Central Sector Scheme for setting up of new AIIMS, 22 AIIMS have been approved and undergraduate courses have started in 19 of these. Also, DNB qualification has been recognised for appointment as teaching faculty, to take care of shortage of faculty and there has been enhancement of age limit for appointment, extension or re-employment against posts of teachers/dean/principal/ director in medical colleges up to 70 years. <h2>Claims of Indians being unfit "extrapolated" </h2>Furthermore, Union Health Minister J P Nadda told the Lok Sabha today that WHO's recent report stating that half of India's adult population is physically unfit relied on data collected only from three states and one UT, and the results were extrapolated through a modelling technique indicating inbuilt methodological issues. Responding to a question, Nadda said the WHO defines 'sufficient physical activity' as 150 minutes of moderate intensity physical activities per week (brisk walk, lifting light load etc.) or 75 minutes of vigorous intensity activity per week (running, digging, construction work, outdoor games etc.). The activity level so quantified is based on a self-reported response to questions about physical activity lasting at least for 10 minutes. The National NCD Monitoring Survey of Indian Council of Medical Research (ICMR) 2020 has assessed, inter alia, physical activity amongst Indian adults and found that 58.7% had conformed to the WHO recommendations, Nadda told the Lok Sabha.

Doctor-population ratio in India better than WHO standard, says Govt

New Delhi, The number of electric vehicle (EV) charging stations that are operating in the country has gone up to 12,146 as of February 2 this year, Minister of State for Heavy Industries, <keyword id="20219727" type="General" weightage="20" keywordseo="krishan-pal-gurjar" source="keywords">Krishan Pal Gurjar</keyword>, said in a written reply in the <keyword id="19895394" type="General" weightage="20" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword> on Tuesday. The data provided by the minister shows that Maharashtra leads with 3,079 EV charging stations followed by Delhi with 1,886, while Karnataka is at the third spot with 1,041 charging stations. The top three states are followed by: <keyword id="19896018" type="General" weightage="20" keywordseo="kerala" source="keywords">Kerala</keyword> (852), <keyword id="19896558" type="General" weightage="20" keywordseo="tamil-nadu" source="keywords">Tamil Nadu</keyword> (643), Uttar Pradesh (582), <keyword id="19898913" type="General" weightage="20" keywordseo="rajasthan" source="keywords">Rajasthan</keyword> (500), Telangana (481), Gujarat (476) and Madhya Pradesh (341), making up the top 10 list. The Ministry of Heavy Industries (MHI) has been making consistent efforts for facilitating the promotion of EVs in India. The FAME-II scheme inter-alia included financial support in the form of subsidy for setting up of public charging infrastructure to instill confidence among the EV users, the minister said. Further, the Ministry of Power has taken several initiatives to accelerate the deployment of public EV charging infrastructure in the country. The government has issued guidelines and standards for charging infrastructure, which enable the owners of EVs to charge their vehicles at their residence/office using their existing electricity connections. A revenue sharing model for provision of land at promotional rates for public charging stations has also been introduced and provision has been made for providing electricity connection to Public Charging Station (PCS) within stipulated timelines. The government has also prescribed the single part EV tariff for public charging stations, This amount cannot exceed Average Cost of Supply (ACoS) till 31.03.2025. The guidelines specify a ceiling of Rs 2.50 per unit and Rs 3.50 per unit of electricity used for slow AC charging of EVs at PCS during the solar and non-solar hours, respectively. Additionally, a ceiling limit of Rs 10 per unit and Rs 12 per unit of electricity used for DC fast charging of EVs at PCS during the solar and non-solar hours, respectively, has also been specified. Average cost of supply (ACoS) by DISCOMs to PCSs during solar hours shall have a rebate of 20 per cent and a surcharge of 20 per cent during all other times. The Green Energy Open Access Rules, 2022, has been notified with the objective of further accelerating renewable energy adoption, ensuring access to affordable, reliable, sustainable and green energy for all, the minister added.

India has 12,146 EV charging stations, Maharashtra leads, Delhi second

Mumbai (Maharashtra) [India], August 18 (ANI): <keyword id="6354335" type="General" weightage="100" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> on Friday said regulated entities (REs) have the freedom and they must offer all categories of retail loans either on a fixed or <keyword id="1104583" type="General" weightage="20" keywordseo="floating-interest-rates" source="Orion">floating interest rates</keyword> basis. At the time of sanction of EMI-based floating rate personal loans, RBI said regulated entities are required to take into account the repayment capacity of borrowers to ensure that adequate headroom or margin is available for elongation of tenor and or increase in EMI, in the scenario of a possible increase in the external benchmark rate during the tenor of the loan. In the wake of rising <keyword id="6371181" type="General" weightage="20" keywordseo="interest-rates" source="Orion">interest rates</keyword>, RBI said it had received several grievances from consumers related to the elongation of loan tenor and or increase in EMI amount, without proper communication with and or consent of the borrowers. "In order to address these concerns, the REs are advised to put in place an appropriate policy framework meeting the following requirements for implementation and compliance," RBI said. As a part of the new rules, the central bank said: At the time of sanction, regulated entities shall clearly communicate to the borrowers about the possible impact of change in benchmark interest rate on the loan leading to changes in EMI and/or tenor or both. Subsequently, any increase in the EMI or tenor or both on account of the above shall be communicated to the borrower immediately through appropriate channels.At the time of reset of interest rates, regulated entities shall provide the option to the borrowers to switch over to a fixed rate as per their Board approved policy. The policy, inter alia, may also specify the number of times a borrower will be allowed to switch during the tenor of the loan. The borrowers shall also be given the choice to opt for enhancement in EMI or elongation of tenor or for a combination of both options; and, to prepay, either in part or in full, at any point during the tenor of the loan. All applicable charges for switching of loans from floating to fixed rate and any other service charges/ administrative costs incidental to the exercise of the above options shall be transparently disclosed in the sanction letter and also at the time of revision of such charges/ costs by the regulated entities from time to time. REs shall ensure that the elongation of tenor in case of floating rate loan does not result in negative amortisation. RBI said regulated entities shall ensure that these instructions are extended to the existing as well as new loans suitably by December 31, 2023. All existing borrowers shall be sent a communication, through appropriate channels, intimating the options available to them, RBI said. (ANI)

Banks must allow retail borrowers to switch between fixed and floating rates: RBI

The board of clean energy solution provider <keyword id="46212" type="General" weightage="20" keywordseo="Suzlon-Energy" source="Orion">Suzlon Energy</keyword> has appointed J P <keyword id="149791" type="General" weightage="100" keywordseo="chalasani" source="Orion">Chalasani</keyword> as the company's Chief Executive Officer following the resignation of <keyword id="6372540" type="General" weightage="20" keywordseo="Ashwani-Kumar" source="Orion">Ashwani Kumar</keyword> from the post. Ashwani Kumar has resigned as the CEO with effect from 5th April 2023 on account of personal reasons, a BSE filing stated. The Board of Directors, at its meeting held on 4th April 2023 has, inter alia, approved the appointment of J P Chalasani as the Chief Executive Officer and one of the key managerial personnel of the Company, to act as the Group Chief Executive Officer, with immediate effect, i.e. from 5th April 2023, the filing said. Chalasani had been Group CEO of Suzlon for the period from April 2016 to July 2020 and continued as Strategic Advisor to the Suzlon Group thereafter. Chalasani has over 40 years of experience in the public and private sector across the entire gamut of the power sector (power generation projects, transmission, distribution, trading and coal mining). Prior to his earlier stint as the Group Chief Executive Officer of the Company, Chalasani was the Group CEO and Managing Director of Punj Lloyd since January 2014 and was responsible for the energy, infrastructure and defence business for the group globally, which is close to USD 1.8 Billion. Prior to joining Punj Lloyd, Chalasani had spent over 18 years with the Reliance Group. He joined Reliance Group (undivided) as a Vice President in 1995 and worked on a number of assignments for the group. He also served as the first Chief Executive Officer and the Director on the Board of BSES Rajdhani and BSES Yamuna Power Ltd. In 2003, along with Anil Ambani, he was appointed to the Board of Reliance Infrastructure as Director Business Development. Post demerger of the Reliance Group, Chalasani was with the ADAG group. He took over as CEO of Reliance Power in March 2008, soon after the company completed its big initial public offer. Chalasani created a 10 people team to start Reliance Power and grew it to a 30,000 MW (generating, under construction and under development) company in 2013. Prior to Reliance Group, Chalasani started his career at NTPC and worked there for 15 years in various capacities, including Special Technical Assistant to the Chairman and Managing Director.

Suzlon board appoints J P Chalasani as Chief Executive Officer

<ul class="summary-list"><li>New York City and the state will pay $36 million to two men who were wrongly convicted of murdering Malcolm X, per <a href="https://apnews.com/article/new-york-lawsuits-assassinations-b35dc68c2d4a2625f45e68f1fb37120a?taid=635ee964c9fcf6000139cb36&amp;utm_campaign=TrueAnthem&amp;utm_medium=AP&amp;utm_source=Twitter">AP</a>.</li><li>Muhammad A. Aziz originally sought $40 million in a civil rights lawsuit in July.</li></ul>Two men who were wrongly convicted in the 1965 murder of Malcolm X will receive a $36 million settlement from New York City and New York state, their attorney David Shanies said on Sunday, per the <a href="https://apnews.com/article/new-york-lawsuits-assassinations-b35dc68c2d4a2625f45e68f1fb37120a?taid=635ee964c9fcf6000139cb36&amp;utm_campaign=TrueAnthem&amp;utm_medium=AP&amp;utm_source=Twitter">AP</a> and <a href="https://www.reuters.com/world/us/men-wrongly-convicted-malcolm-x-slaying-reach-settlement-with-new-york-city-2022-10-31/">Reuters</a>.Paperwork for the settlement will be signed over the next few weeks, with New York City paying $26 million and the state of New York paying $10 million, Shanies told the AP. Shanies did not immediately respond to Insider's request for comment.Muhammad A. Aziz and Khalil Islam, then known as Norman 3X Butler and Thomas 15X Johnson respectively, were sentenced to life in prison in 1966 for Malcolm X's murder. Aziz was released on parole in 1985, while Islam was released on parole in 1987 and died in 2009, per <a href="https://www.washingtonpost.com/national-security/malcom-x-aziz-islam-cleared/2021/11/18/479f4b38-47f1-11ec-95dc-5f2a96e00fa3_story.html">The Washington Post</a>. They were <a href="https://www.insider.com/men-convicted-malcolm-x-assassination-set-to-be-exonerated-2021-11">exonerated in November</a> after an almost two-year-long investigation — run by the New York county district attorney Cyrus Vance, nonprofit organization <a href="https://innocenceproject.org/historic-exonerations-muhammad-aziz-khalil-islam-1965-assassination-of-malcolm-x/">The Innocence Project</a>, and Shanies — showed that the FBI and the New York Police Department, or NYPD, withheld evidence during the original trial in 1966.In July, Aziz, who is now 84, filed a $40 million civil rights lawsuit arguing that his wrongful conviction was the result of "flagrant official misconduct, including, inter alia, by the NYPD and its intelligence unit, the Bureau of Special Services and Investigations," <a href="https://storage.courtlistener.com/recap/gov.uscourts.nyed.482575/gov.uscourts.nyed.482575.1.0.pdf">court documents showed</a>.Aziz was 26 years old and a father to six when he was arrested, and the damage done to him and his family "was immense and irreparable," court documents stated.The settlement will be split equally between Aziz and the estate of Islam, <a href="https://www.nytimes.com/2022/10/30/nyregion/malcom-x-muhammad-aziz-khalil-islam-settlement.html">The New York Times</a> reported, citing Nicholas Paolucci, the director of public affairs for the New York City Law Department, and Shanies. Paolucci did not immediately respond to Insider's request for comment.Malcolm X, a civil rights activist and a prominent member of the Nation of Islam, was <a href="https://timesmachine.nytimes.com/timesmachine/1965/02/22/101528359.html?pageNumber=1">assassinated</a> on February 21, 1965, while preparing to speak at a rally in the Audubon Ballroom in Washington Heights. He had broken from the Nation of Islam about a year before his death.A third man convicted for the murder, Mujahid Abdul Halim, also known as Talmadge Hayer, admitted in 1966 to taking part in the assassination but had long denied that Aziz and Islam were involved, per <a href="https://www.nytimes.com/2021/11/22/nyregion/malcolm-x-assassination-halim-hayer.html">The New York Times</a>. Halim was released on parole in 2010.

2 men wrongly convicted of killing Malcolm X in 1965 will receive a $36 million settlement from New York City and the state: reports

<ul><li><keyword id="1553175" type="General" weightage="100" keywordseo="vodafone-idea" source="Orion">Vodafone Idea</keyword>’s board of directors is scheduled to meet on October 21 to consider raising funds. </li><li>The meeting comes at a crucial time, when <keyword id="6375231" type="General" weightage="50" keywordseo="indus-towers" source="Orion">Indus Towers</keyword>, one of the main tower providers of Vodafone Idea, has demanded the telco pay up its dues. </li><li>Shares of the telco gained after the fundraising announcement. </li></ul>Vodafone Idea’s board of directors will meet on October 21 to consider fundraising via convertible debentures, the telco said in an exchange filing, without divulging details about the quantum of the fund raise. "We wish to inform you that a meeting of the board of directors of the company is scheduled to be held on October 21, 2022, inter-alia, to consider and evaluate a proposal for issuance of debenture securities convertible into equity shares on a preferential/private placement basis to a vendor," Vodafone Idea said in its exchange filing. Convertible debenture is a long-term debt that can be converted into equity shares after a specified period. Vodafone Idea’s latest attempt to raise funds is for investing in its network and also to pay its dues to its service providers, including Indus Towers – a tower company in which rival telco Bharti <keyword id="15491" type="General" weightage="50" keywordseo="airtel" source="Orion">Airtel</keyword> holds a 47.76% stake. Notably, Vodafone Idea’s parent company, <keyword id="105732" type="General" weightage="50" keywordseo="vodafone-group-plc" source="Orion">Vodafone Group Plc</keyword>, also holds a 21.05% stake in Indus Towers. Vodafone Idea<a href="https://economictimes.indiatimes.com/industry/telecom/clear-dues-or-lose-tower-access-indus-towers-to-vodafone-idea/articleshow/94492219.cms"> reportedly</a> owes over ₹7,000 crore to Indus Towers. The tower company has asked the telco to clear dues or risk losing access to towers from November. Reacting to the news, Vodafone Idea’s shares rose 1% to ₹8.55. This is, however, still below the ₹10 level that the government is reportedly waiting for before converting its debt to equity, as part of the <a href="https://www.businessinsider.in/business/telecom/news/telecom-relief-package-airtel-vodafone-idea-get-four-year-moratorium-on-agr-dues/articleshow/86227218.cms">telecom relief package announced in 2021</a>. The package gave telcos an option to go for a four-year moratorium on their adjusted gross revenue (AGR) and spectrum dues, among other things. <cmsannotation type="cmsannotation" annotationid="The tide that won’t stem" comment="subhead" text="The tide that won’t stem">The tide that won’t stem</cmsannotation> In 2022 so far, Vodafone Idea has lost over 12 million subscribers, according to data from telecom regulator TRAI. Its rivals <keyword id="6354504" type="General" weightage="50" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> and Airtel continue to add subscribers at a rapid pace. <div type="image" title="Airtel Reliance Jio Vodafone Idea subscriber additions Jan-Aug 2022." msid="94963881" hostid="261" sizebytes="23682" caption="&amp;lt;p&amp;gt;Telecom subscriber trends in 2022 so far&amp;lt;/p&amp;gt;"></div> While the telecom sector is<a href="https://www.businessinsider.in/business/telecom/news/telecom-sector-to-ring-in-stability-in-q2-jio-and-airtel-expected-to-grow-stronger-vi-weaker/articleshow/94709309.cms"> expected</a> to ring in stability in Q2, analysts suggest Vodafone Idea will continue to grow weaker. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/maggi-maker-nestl-indias-net-profit-grows-8-3-to-668-crore-in-q2/articleshow/94960866.cms">Maggi maker Nestlé India’s net profit grows 8.3% to ₹668 crore in Q2</a> <a href="https://www.businessinsider.in/business/corporates/news/moonlighting-is-fine-as-long-as-it-is-unrelated-to-what-we-do-for-our-clients-says-lt-tech/articleshow/94958101.cms">Moonlighting is fine as long as it is unrelated to what we do for our clients, says L&amp;T Tech</a> <a href="https://www.businessinsider.in/business/news/jaypee-and-amrapali-groups-collapse-leaving-buyers-in-the-lurch/articleshow/94961447.cms">70,000 housing units in trouble after Jaypee and Amrapali groups head into financial trouble</a>

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