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<ul><li>Mumbai Police has imposed Section 144 on September 27 in many areas of Mumbai particularly the business district.</li><li>This prevents 'unlawful assembly' among other restrictions in the areas mentioned.</li><li>The move has been triggered by the decision of a senior politician <keyword id="6364749" type="UNKNOWN" weightage="20" keywordseo="Sharad-Pawar">Sharad Pawar</keyword> to visit the Enforcement Directorate in connection with a corruption case.</li></ul>Mumbai Police has imposed Section 144 on September 27 in many areas of Mumbai particularly the business district. The Bombay Stock Exchange as well as the Reserve Bank of India are in the vicinity of the areas mentioned by the Mumbai Police. The move has been triggered by the decision of a senior politician Sharad Pawar which is in the opposition in the state-- to visit the Enforcement Directorate in connection with a corruption case at Maharashtra State Cooperative Bank. The ED <a href="https://www.moneycontrol.com/news/business/ed-registers-case-against-sharad-pawar-70-others-in-maharashtra-cooperative-bank-fraud-case-4471211.html" target="_blank">registered a case</a> against Nationalist Congress Party (NCP) chief Sharad Pawar -- an opposition leader in the state assembly-- and his nephew Ajit Pawar, among 70 other officials of the Maharashtra State Co-operative (MSC) Bank for an alleged fraud pegged at ₹25,000 crore. 
	<div type="twitter" handle="MumbaiPolice" handlename="Mumbai Police" image="http://pbs.twimg.com/profile_images/681175613399408640/4oFS6Qqo_normal.jpg" favoritecount="685" retweetcount="422" status="Dear Mumbaikars! Please be advised that prohibitory orders have been issued u/s 144 CrPC for the following jurisdic… https://t.co/ph1UQEoVyT" createdat="1569521569000" id="1177284908307206144"></div>



 These are the key areas where Section 144 has been imposed. 
	
 <div type="image" title="mumbai map" msid="71319810" hostid="261" caption="&amp;lt;p&amp;gt;Section 144 imposed on Friday at Colaba Police Station (PS) , Cuffe Parade PS, Marine Drive PS, Azad Maidan PS, Dongri PS, JJ Marg PS, MRA Marg PS.&amp;lt;/p&amp;gt;"></div>



 What are the restrictions imposed under Section 144? Section 144 of the Criminal Procedure Code (CrPC) of 1973 prohibits the assembly of four or more people in an area. According to the law, every member of such 'unlawful assembly' can be booked for engaging in rioting. The law also disallows carrying any weapon in the areas mentioned and people can be detained for violating it. The maximum punishment for such an act is three years. The cops can detain people for protesting or engaging in any activity that may be considered as intended to cause unrest. SEE ALSO: <a href="https://www.businessinsider.in/politics/policy/rbi-allows-pmc-bank-customers-to-withdraw-up-to-10000-a-day-up-from-1000-earlier/articleshow/71310969.cms" data-type="tilCustomLink" target="_blank">RBI allows PMC Bank customers to withdraw ₹10,000 over a period of six months from ₹1,000 earlier</a>

The business district of India's financial capital under Section 144-- what does it mean?

<ul><li>Karnataka legislative assembly is set to undergo a floor test after the Supreme Court final verdict came out yesterday. </li><li>Ramalinga Reddy, one of the 13 Congress rebel MLAs’ has decided to take his resignation back and vote in favour of the party. </li><li>The 14 rebel MLAs’ in Mumbai are not showing signs of any melt down and have clearly said that there is no question of stepping back. </li></ul> Karnataka CM H D Kumaraswamy led Congress-JD(S) government got some relief as one of its 15 rebel MLAs has decided to take a U-turn and withdraw his resignation, <a href="https://www.news18.com/news/politics/breather-for-karnataka-govt-as-rebel-congress-mla-agrees-to-withdraw-resignation-vote-for-alliance-2235481.html">according to reports</a>. Congress MLA Ramalinga Reddy, has decided to vote in favour of the HDK government. “I will take part in the assembly session tomorrow and vote in favour of the party. I will continue to remain in the party and serve as MLA,” Reddy told PTI. The move has come hours before the Karnataka assembly is set for a trust vote. In the meanwhile, a Section 144 is imposed around Vidhan Soudha area, where assembly of more than four people is banned, ahead of the vote. Supreme Court in its ruling yesterday in the Karnataka political crisis case had said that the MLAs cannot be forced to take part in the trust vote. While all the rebel MLAs were residing in Mumbai, Reddy was the only one who stayed back in Bengaluru and there were speculations that he may have been approached by the Congress for taking his resignation back. Congress also did not include Reddy’s name in the list of MLAs for disqualification saying he was an ‘exception’. Reddy while giving his resignation on July 6 had said that he is only resigning from the assembly and will continue to be in the party. Now the faith of the Congress-JD(S) alliance government in Karnataka is completely dependent on the trust vote, as the rebel MLAs in Mumbai are showing no sign of melt down. If this continues the HDK government will be reduced to a minority with 102 members after Reddy’s return. The ruling government went into a crisis mode after 16 of its MLAs from both the parties of the coalition government resigned early this months. For the last two weeks, the political crisis in the state raged on, as Speaker of the Assembly refused to accept them, taking them to court. One of the rebel MLAs Roshan Baig was also detained at Bengaluru airport and questioned, as he was stopped from taking a chartered flight, yesterday. SEE ALSO: <a href="https://www.businessinsider.in/supreme-court-order-on-karnataka-political-crisis-latest-updates/articleshow/70255499.cms">Supreme Court order may have made it tough for Kumaraswamy government to stay in power in Karnataka</a> <a href="https://www.businessinsider.in/supreme-court-verdict-on-karnataka-crisis-between-congress-jds-and-bjp/articleshow/70247202.cms">The Supreme Court will give its order to end Karnataka’s political crisis tomorrow</a> <a href="https://www.businessinsider.in/karnataka-cm-kumaraswamy-puts-up-a-brave-front-but-rebel-mlas-lawyer-says-government-is-in-a-minority/articleshow/70240597.cms">Karnataka CM Kumaraswamy puts up a brave front, but rebel MLAs lawyer says government is in a minority</a>

Karnataka floor test promises to be interesting after a last minute U-turn by a rebel MLA

<ul><li>Cyclone Nisarga is expected to hit the Maharashtra coast with high wind speeds between 100 to 110 kmph — and they can go upto 120 kmph. </li><li>The India Meteorological Department (IMD) has issued a ‘red’ alert for Mumbai, Thane and Palghar where the city police has imposed Section 144 of CrPC for the next 24 hours. </li></ul>The Maharashtra government on May 3 issued a list of do’s and don’ts to follow while dealing with cyclone Nisarga, which is expected to make a landfall in the afternoon near Alibaug near Mumbai today. Cyclone Nisarga is expected to hit the Maharashtra coast with high wind speeds between 100 to 110 kmph — and they can go upto 120 kmph. The India Meteorological Department (IMD) has issued a ‘red’ alert for Mumbai, Thane and Palghar where the city police <a href="https://timesofindia.indiatimes.com/city/mumbai/cm-defers-reopening-by-2-days-sec-144-imposed-in-city-as-storm-surge-forecast/articleshow/76165159.cms">has imposed Section 144 of CrPC for the next 24 hours. </a> The storm is<a href="https://www.ndtv.com/india-news/cyclone-nisarga-nears-maharashtra-coast-eye-visible-on-radar-10-points-2239734"> likely to impact Mumbai, Thane and other coastal districts of </a>Maharashtra like Raigad and Palghar along with Valsad, Navsari, Surat, Bhavnagar and Bharuch districts of Gujarat and Union Territory of Dadra and Nagar Haveli and Daman and Diu. Here are the things you should keep in mind when the cyclone hits the coast: Do’s <ul><li>Loose things outside the house should be tied or moved indoors. </li><li>Seal important documents and jewellery in a plastic bag. </li><li>Regularly inspect battery operated as well as reserve power systems. </li><li>Pay attention to the official instructions on television and radio. </li><li>Charge emergency lights, phones, and power banks. </li><li>If you do not live in a mud house/hut, choose a part of the house as an emergency shelter and practice how all members of the house will use the space during the cyclone. </li><li>Keep an emergency kit ready. </li><li>Stay away from windows. Close some windows and keep some windows open so that the pressure is maintained. </li><li>Stay at the center of the room. Stay away from corners as debris often accumulates in corners. </li><li>Hide under strong furniture such as a stool or heavy table or desk, and hold it tight. </li><li>Use your hands to protect your head and neck. </li><li>Avoid large roof spaces such as auditorium and shopping malls. </li><li>If you find an open space and there is enough time, find the right shelter in the nearest pit or pasture. </li><li>Relocate to a predetermined or administration-determined location. </li><li>Disconnect the power supply of all non-emergency equipment and tools. </li><li>Store drinking water in a clean place (jugs, bottles etc). </li><li>Help people trapped or injured. Provide first aid, as needed. </li><li>Check for air leaks, if you smell gas or hear a leaking sound, immediately open the windows and exit the building. If possible, turn off the gas valve and report to the gas company. </li><li>Check for damage to electrical equipment, if you notice sparks, exposed wires, or burning smell of rubber, disconnect the main power supply and call an electrician. </li><li>Help those in need of special help like children, physically challenged, elderly, neighbours. </li><li>Fishermen should keep a radio set with extra batteries handy. </li><li>Fishermen should keep boats/rafts tied up in a safe place. </li></ul>Don’ts <ul><li>Do not spread or believe in rumours. </li><li>Do not attempt to drive or ride any vehicle during the cyclone. </li><li>Stay away from damaged buildings. </li><li>Do not move injured people unless it is absolutely safe to do so. It may cause more harm. </li><li>Do not allow oil and other flammable substances to spill. Clean them immediately. </li><li>Fishermen should not venture out in the sea. </li></ul> SEE ALSO: <a href="https://www.businessinsider.in/india/news/cyclone-nisarga-is-all-set-to-cross-maharashtra-and-gujarat-at-a-speed-of-110-kmph-mumbai-on-red-alert/slidelist/76168338.cms">Cyclone Nisarga is all set to cross Maharashtra and Gujarat at a speed of 110 kmph — Mumbai on ‘red’ alert</a> <a href="https://www.businessinsider.in/cyclone-fani-what-is-a-landfall/articleshow/69149542.cms">Here’s what a cyclone making ‘landfall’ means</a>

Cyclone Nisarga: These are the do’s and don’ts people should follow in Mumbai, Thane, Alibaug, Surat and other affected areas

<ul><li>The Supreme Court directed the 10 rebellious Congress MLAs to speak to <keyword id="6354780" type="LOCATION" weightage="20" keywordseo="Karnataka">Karnataka</keyword> assembly speaker at 6 pm yesterday. </li><li>As many as 16 MLAs — including 6 from <keyword id="123462" type="COMPANY" weightage="20" keywordseo="Janata-Dal">Janata Dal</keyword> (JD) — had offered resignation to the speaker who didn't accept the resignations. </li><li>The MLAs accused assembly speaker Ramesh Kumar for not accepting their resignation.</li></ul>Karnataka Chief Minister H D Kumaraswamy said that he is ready for a trust vote in Assembly, as the crisis over his government deepens. As many as 10 MLAs from the Congress resigned from the government on July 1 which weakened the Congress and Janata Dal (S) coalition government. The MLAs had stayed holed up in <keyword id="6358070" type="LOCATION" weightage="20" keywordseo="mumbai">Mumbai</keyword> for days since the mass resignations as the crisis to Mumbai. A few silver lines of resolution came on Thursday after the Supreme Court directed the dissenting MLAs to appear before the Assembly on Thursday evening. The Apex court had also asked the Karnataka Police to provide protection to the MLAs — Pratap Gouda Patil, Ramesh Jarkhiholi, Byrati Basavaraj, BC Patil, ST Somashekar, Arbail Sivaram Hebbar, Mahesh Kumathalli, K Gopalaiah, HD Vishwanath and Narayan Gowda. The All India Congress Committee (AICC) had also registered a complaint against the rebel MLAs for not abiding by the party rules and staying illegally at a hotel in Mumbai. The situation also heated up when Congress party leaders like Milind Deora and Shikumar were stopped from entering the hotel premises. Later, a Section 144 which bans the assembly of more than four people, was also imposed on Wednesday in Powai area where the rebel MPs were staying. The MLAs had accused that the Speaker Ramesh Kumar was not accepting their resignations, even when they were in accordance with the Indian constitution. As many as 16 MLAs — including 6 from <a href="https://timesofindia.indiatimes.com/india/karnataka-crisis-sc-asks-rebel-mlas-to-appear-before-speaker-at-6pm/articleshow/70169817.cms">Janata Dal (JD)</a> — too had tendered resignations. This comes after the resignation by Congress MLA R Roshan Baig, who resigned on June 10. "I don't understand what is the urgency for BJP. There have been instances where such impasses have taken months to be resolved. Whatever the pressure, I am not going to move an inch away from the law and procedure," Speaker K R Ramesh Kumar told <a href="https://www.thehindu.com/news/national/karnataka/karnataka-political-crisis-live-updates-july-11-2019/article28396367.ece">The Hindu</a>. “We are now 15 MLAs who want to resign but there is no formal acceptance by Speaker. Idea is not to defect, but resign so that we can go back to public and contest,” said Mukul Rohatagi, former Attorney General appealed to the bench on behalf of the resigned MLAs to a Supreme Court bench which includes Chief Justice <keyword id="245445" type="PERSON" weightage="20" keywordseo="Ranjan-Gogoi">Ranjan Gogoi</keyword>.

Karnataka Chief Minister H D Kumaraswamy braces for a trust vote, as crisis deepens

<ul><li>Marcotech Developers is now live on the exchanges listing at a share price of ₹436.</li><li>This is a 10.3% dip from the subscription price of ₹486 per share.</li><li>Prior to listing, the ₹2,500 IPO saw lukewarm response from investors, only being subscribed to 1.36 times. </li></ul><keyword id="7940335" type="UNKNOWN" weightage="20" keywordseo="Macrotech-Developers">Macrotech Developers</keyword>, formerly known as <keyword id="6473062" type="UNKNOWN" weightage="20" keywordseo="Lodha-Developers">Lodha Developers</keyword>, saw its initial public offering (IPO) list at a 10.3% discount on the National Stock Exchange (NSE). Its share price at 10:00 am, the time of listing, was ₹436 versus the subscription price of ₹486. Within the first 10 minutes, the price was able to reach a high of ₹472.95 before dipping back down to ₹458 at 10:10 am. The company’s ₹2,500 crore initial public offering (IPO) received a lukewarm response from investors after only seeing a subscription rate of 1.36 times. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Macrotech Developers IPO </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyer </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail Individual Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of times issue subscribed </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.05 times </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.44 times </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.40 times </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.36 times </td></tr></tbody></table> According to analysts, the company is a good bet if you were willing to hold on to the stock for the long run — not for its listing premium. So, if you have the shares and are concerned that there’s been a loss on premium, keep the stock if you have the patient. Why are investors wary of Macrotech Developers? One of the reasons for investors to be wary was the company’s high level of debt. Around ₹1,500 crore of funds from the IPO will go towards repaying lenders to ease its balance sheets. But that doesn’t mean that it won’t need more money, which brings us two the second reason investors were vary about putting their money into the offer. Marcotech Developers is operating in a capital intensive sector, the real estate industry, during a pandemic. Any delays due to a lockdown, curfew or the implementation of restrictions like Section 144, could add to its costs — especially since the majority of its projects are in India’s financial capital, Mumbai. The city has been one of the worst hit in all of India during the second wave of the pandemic. “If the company does not have access to funds required on favourable terms, it may be required to delay or abandon some or all planned projects or reduce the scale of operations,” noted Capital Markets in its preview. The brokerage pointed out that the company has earlier difficulties in serving its debt. It was among the companies that availed the moratorium offered by the Reserve Bank of India (RBI) for six months during the pandemic, from March to August 2020. The size of Macrotech Developers has its own loopholes The problem with Macrotech Developers possibly having to reduce its scale of operations due to the uncertainty propagated by the pandemic is that it’s one thing it has playing in its favour. Macrotech Developers is one of the largest players in the Indian real estate market going up against behemoths like Godrej Properties, Sunteck Realty, and Oberoi Realty. And so far, it has consistently outperformed all its peers when it comes to sales, as per Hem Securities. It has a strong distribution network, not just in India, but in foreign markets like the UK, the US, Singapore and the Gulf Cooperation Council (GCC). But even that comes with its own loopholes. “Large construction projects in all parts of the world provide opportunities for corruption, fraud or improper conduct, including bribery, deliberate poor workmanship, theft or embezzlement by employees, contractors or customers or the deliberate supply of low-quality materials, which may delay development of projects,” said Capital Market’s report. Yes, it's one of the biggest players in the residential real estate market, but being so big at a time when the real estate market is witnessing its biggest slump in five years can be dangerous — even with home loans rates on the downtrend. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/razorpay-raises-160-million-at-3-billion-valuation-plans-for-more-acquisitions/articleshow/82137901.cms">Razorpay raises $160 million at $3 billion valuation, plans for more acquisitions</a> <a href="https://www.businessinsider.in/stock-market/news/hdfc-bank-macrotech-developers-adani-ports-and-other-stocks-to-watch-out-for-on-april-19/slidelist/82137367.cms">HDFC Bank, Macrotech Developers, Adani Ports and other stocks to watch out for on April 19</a>

You Searched For "mumbai section 144" and got 5 results

The business district of India's financial capital under Section 144-- what does it mean?

Sriram Iyer

Karnataka floor test promises to be interesting after a last minute U-turn by a rebel MLA

BI India Bureau

Cyclone Nisarga: These are the do’s and don’ts people should follow in Mumbai, Thane, Alibaug, Surat and other affected areas

BI India Bureau

Karnataka Chief Minister H D Kumaraswamy braces for a trust vote, as crisis deepens

BI India Bureau

Macrotech Developers IPO lists at 10% discount — analysts recommend that shareholders should wait it out

Prabhjote Gill

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