<ul><li>There is no law in India that states that the wife should get a certain percent of their husband's income or wealth as <keyword id="6406198" type="General" weightage="20" keywordseo="alimony" source="Orion">alimony</keyword>. </li><li>Actual settlement amount depends on the lawyer, the income of the husband and number of dependents, among other factors. </li><li>If there is accusation of mental cruelty or domestic physical violence against the husband, those will have to be tested before the court. </li></ul>In the process of reaching an agreement following their divorce, Nawaz Modi Singhania, 53, the separated spouse of billionaire industrialist Gautam Singhania, has reportedly requested 75% of his purported $1.4 billion fortune for herself and their two daughters. When Bollywood star Hrtithik Roshan and Sussanne Khan divorced in 2013, she had reportedly demanded ₹400 crore as alimony. It was later settled at ₹100 crore, though not confirmed. High-profile divorce cases make headlines, and when industrialists are involved they may also affect share prices. But when a divorce happens and the wife makes an alimony claim, how do things pan out? "The court will look at the education levels of the person and their ability to be employed while deciding alimony. It's very unlikely that somebody will get 75% of the assets," said Delhi-based corporate lawyer Anuroop Omkar, founding partner of law firm AK &amp; Partners. There is no law on settlement percentage There is no rule in India which says that you have to give so and so percent to your wife as alimony. “It depends on a number of factors. One of them is what is your strategy to get the money- what is the lawyer’s strategy, what are arguments, what is your lawyer’s research. This happens because there is no set rule,” says Vandana Shah, a divorce lawyer. So the actual settlement amount depends on the lawyer, the income of the husband,what the wife is earning and depends on what comes out in court. It also depends on the number of dependents. In the Rajnesh vs Neha divorce case, a few years ago, the court ruled that there's no fixed formula to determine the amount of maintenance to be granted. The awarded maintenance should be fair and practical, ensuring that it enables the wife to sustain herself comfortably and reasonably. The adequacy of the sum should be assessed based on the wife's ability to maintain herself with a reasonable standard of living. “Since November 2020, as per Rajnesh V/s Neha as per the Supreme Court guidelines, every wife who makes a claim for maintenance,makes an application in the prescribed format which - includes the financials of the wife, her monthly expenses, investments, properties she owns and so on. The husband is also expected to file his application with his financials in the format prescribed by the Supreme Court,” says S<a href="https://www.linkedin.com/in/sandhya-vasudevan-sondhi-1099215/overlay/about-this-profile/">andhya Vasudevan Sondhi</a>, founder, SVS Legal, a Mumbai-based boutique law firm that handles family matters. Outside court settlement It is advised that such separation issues be amicably dealt with. Especially in the case of the Singhanias, there will be allegations and counter allegations by both the parties, especially since the tenure of marriage is long. “Looking at the gravity of the whole situation and looking at the children and the long tenure of marriage, if both the parties talk it out and settle the matter, it could be wonderfully handled. If a divorce can be done in a mutual way, it works in the best interest of both the parties, the children and also the respective families,” says Advocate Siddhartha Shah , a divorce lawyer. The law thus provides a solution to this. Section 28 of the special marriage act, talks about of divorce by mutual consent. “If there are unreasonable claims, then one of the parties may not agree. Then the court will have to look at each and every aspect of the accusations and then the court will have to weigh it according to the primary and secondary evidence that is produced before the court,” says Shah. It is noteworthy that if there is accusation of mental cruelty or domestic physical violence against the husband, that will have to be tested before the court. Then the case goes to trial and that can become a time consuming process.

High profile divorces are stories of claims and counterclaims best settled outside court

<keyword id="6405378" type="General" weightage="20" keywordseo="gautam-singhania" source="Orion">Gautam Singhania</keyword>, Chairman and Managing Director of Raymond on Monday issued a statement to announce separation from his wife, <keyword id="201967" type="General" weightage="20" keywordseo="Nawaz-Modi-Singhania" source="Orion">Nawaz Modi Singhania</keyword>. Singhania wrote on X that Diwali is not going to be the same for him this year. "This Diwali is not going to be the same as many in the past. 32 years of being together as a couple, growing as parents and always being a source of strength to each other... we traversed with commitment, resolve, faith as along came the two most beautiful additions of our lives." "It is my belief that Nawaz and I will pursue different paths from here on... I am parting ways with her while we will continue to do what is the best for our two precious diamonds Niharika and Nisa," Singhania said in the post. He added that there has been a lot of rumour mongering and gossip around his family "fanned by not so well wishers". Earlier media reports said that Nawaz Modi Singhania, wife of Gautam Singhania, was allegedly stopped from attending her husband's Diwali party in Thane, last week. Nawaz Modi Singhania reportedly recorded the video of the incident which has gone viral. In the video, Nawaz can be heard saying that she was standing outside JK Gram. Nawaz Modi Singhania alleged that she was invited for the party but now she was not allowed to enter the premises, as per media reports.

Raymond's Gautam Singhania announces separation from wife Nawaz Modi Singhania

<ul><li><keyword id="6418655" type="General" weightage="20" keywordseo="minority-shareholders" source="Orion">Minority shareholders</keyword> can do little to protect their investments in case of boardroom and family battles of promoters, say experts.</li><li>Shareholders should take a call to sell or stay invested based on how the company is performing.</li><li>Any legal recourse by minority shareholders can lead to further dilution of stock value, warn lawyers. </li></ul>The Raymond family drama has taken its toll on minority shareholders of the company because this category of investors is the most vulnerable. The stock has fallen by over 17% ever since <keyword id="6405378" type="General" weightage="20" keywordseo="gautam-singhania" source="Orion">Gautam Singhania</keyword>’s wife <keyword id="305817" type="General" weightage="20" keywordseo="nawaz-modi" source="Orion">Nawaz Modi</keyword> publicly accused him of assault. His letter to the board assuring smooth functioning of Raymond, has done little to calm the storm. This is not the only case where minority shareholders, who hold less than 50% of the stock, are affected by feuds between board and family members. There are two other ongoing cases of family members sparring over control of companies — pharma company Hikal and Finolex Cables. In these cases, there is very little that shareholders can do, say experts. They’re left between the choice of offloading stock as it’s falling or holding it for an indefinite period. In these cases, should shareholders sell or stay? “There is no easy way to answer this,” says Deepak Jasani, head of retail research at HDFC Securities. “It all depends on if the company is continuing to do well. They have to decide based on if the dispute can have a quick resolution or will be prolonged,” he adds. Delhi-based corporate lawyer Anuroop Omkar, founding partner of law firm AK &amp; Partners says that minority shareholders are very low in the pecking order when it comes to their ability to act. “Even in an insolvency, they’re below secured creditors,” he says. There is a provision in the Company Act 2013 called ‘Oppression and mismanagement in a company’ which protects minority rights. Mismanagement can be defined as conducting company affairs in a prejudicial, dishonest or inept manner. “But this can’t be invoked in the Raymond case, as it’s a personal battle,” he adds. Top corporate battles that affected shareholder value <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Feud </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Effect </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Family dispute between Mukesh Ambani &amp; Anil Ambani </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2004 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Culminated into a split of the company &amp; a court battle over natural gas sales later </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dispute between promoter Narayana Murthy &amp; Vishal Sikka, the CEO over functioning of the company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2017 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sikka quit the company </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Family members Sungandha Hiremath and Baba Kalyani battle over Hikal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2023 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The case over family arrangement made in 1994 is being heard in Bombay High Court </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cousins Prakash and Deepak Chhabria battle over control of Finolex </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2016 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The case is with courts and National Company Law Appellate Tribunal (NCLAT) </td></tr></tbody></table> Between stock &amp; a hard place There is no third option for shareholders, even if they lose faith in the promoters’ ability to conduct business. They can only wait and watch, experts say. “Minority shareholders will have to rely on the Board and independent directors to act on their behalf,” Shriram Subramanian, founder &amp; MD of proxy advisory firm InGovern tells Business Insider India. In Raymond’s case, the board of directors can investigate based on allegations made by Modi that company funds have been misused. “The Board has to ringfence the company from utilization of funds by Gautam Singhania for any personal legal matters,” adds Subramanian. Institutional advisory firm IiAS also wrote an open letter seeking independent investigation by the board, asking them to send promoters on leave till investigation is complete. “Independent directors have a fiduciary responsibility towards minority investors, employees and a larger set of the company’s stakeholders. Therefore, you will need to dispassionately separate ownership from management,” IiAS’ letter says. Legal recourse: A double-edged sword There is, however, a way for minority shareholders to edge into the board, with the help of courts. “If there is a case of harassment or erratic behaviour, many entities related to the company like vendors, employees can file a class-action lawsuit wherein shareholders can join in too. But it doesn’t happen too often in India,” says Omakar. Only Foreign Institutional Investors (FII) who have over 1% stake in the company or a high-networth individual (HNI) who can afford to take up such long-standing fights. Subramanian believes that fighting for rights comes at a cost for minority shareholders. Also, the rights need to be exercised with responsibility. Minority shareholders, depending on their shareholding, can exert their rights to bring about change in the company, including change of directors, appointment of new directors, etc. Legal recourse can also work against the long-term interests of shareholders too. “There can be a major share price drop if a legal battle is taken up,” says Omkar. That can go against the interests of shareholders who want to protect the value of their investments. Until then, stock experts advise shareholders to read up on the corporate governance track record of companies and take a call on whether they want to hold on or sell out from a company engaged in a battle of its own. SEE ALSO <a href="https://www.businessinsider.in/finance/news/rbi-governor-asks-realty-companies-to-stress-test-their-books/articleshow/105411235.cms">RBI governor asks realty companies to stress test their books</a> <a href="https://www.businessinsider.in/policy/economy/news/rupee-hits-a-new-low-in-november-despite-fall-in-dollar-index/articleshow/105551439.cms">Rupee hits a new low in November despite fall in dollar index</a>

Minority shareholders must grin and bear it when promoters wash dirty laundry in public

<img class="gwt-Image" src="/photo/50499644.cms" style="width: 800px; height: 600px;" /> 
 According to a media report, Pakistan Prime Minister <keyword id="6576" type="PERSON" weightage="80" keywordseo="Nawaz-Sharif">Nawaz Sharif</keyword> has ordered a probe into the leads provided by India about the Pathankot airbase attack. 
 
He chaired a high-level meeting and discussed the attack on the Indian airbase, The Nation reported. 
 
The prime minister and his aides agreed to launch investigations into the evidence provided by India, it said. 
 
A senior official said the leads provided by India were handed over to Intelligence Bureau chief Aftab Sultan for further action. 
 
Addressing the meeting, Prime Minister Sharif said Pakistan was ready to boost cooperation with the neighbouring India as part of counter-terrorism efforts. 
 
Sharif directed National Security Adviser Nasser Khan Janjua to remain in contact with his Indian counterpart Ajit Doval in a bid to keep renewed dialogue on track after the attack on Pathankot air base. 
 
Another official said the information provided by India was "not enough" as it was just limited to telephone numbers and Pakistan might ask for additional information. 
 
"We would like to have solid information to build a case for action otherwise courts intervene and the suspects will be bailed out," he added. 
 
He said the meeting agreed that that strong action would be taken after probe against anyone found guilty of involvement in the attack. 
 
The official said that the meeting also decided to speed up implementation of National Action Plan. 
 
Image credit: Indiatimes

Nawaz Sharif orders probe on Pathankot attack leads provided by India

<img class="gwt-Image" src="/photo/50365492.cms" />Prime Minister Narendra Modi had no plans to visit Lahore and was supposed to come back from Kabul to New Delhi. But his impromptu plan to visit Lahore sent the security into action, which managed Modi’s visit with aplomb. 
 
Modi had called Pakistani Prime Minister Nawaz Sharif to greet him on his birthday, when Sharif asked Modi to visit Islamabad. 
 
Sharif, who was in Lahore for his granddaughter’s wedding, said he won’t be able to make it to Islamabad and requested Modi to come to Lahore. 
 
This plan of a pit stop in Lahore, that too at Sharif’s residene, which is 45 kilometres away from the airport, was successful all thanks to the security of both the countries. 
 
Senior government officials aware of the deliberations told ET, “Aap Lahore mein ghar aa jayiye, Lahore ke darwaze bhi aap ke liye khule hain (Come to my Lahore home, the doors of Lahore are also open for you). 
 
Then the security concerns were discussed with NSA Ajit Doval and the SPG officials. 
 
"Islamabad has an institutionalised security protocol and setup for VVIP visits from the US and elsewhere which we were comfortable with even in the case of a sudden trip. But the Lahore surprise pit-stop was a big challenge for the SPG," a senior official told ET. 
 
The security overcame two challeneges-IAF chopper at Lahore airport and Modi’s 45-kilometre road journey from the airport to Sharif's Raiwind Palace through the heart of Lahore. 
 
Pakistan promised foolproof security at the Lahore airport and assured a Pak Air Force Chopper would fly both PMs to Raiwind and back. 
 
"Sharif flying in the same chopper with Modi was the biggest assurance that security would be top-notch," a senior official told ET. 
 
(Image: PIB)

Pakistan ensured foolproof security when PM Modi decided a pit stop in Lahore to meet Nawaz Sharif. Here’s how it happened

<img class="gwt-Image" src="/photo/48333354.cms" style="width: 800px; height: 600px;" /> 
The proposed National Security Advisor-level talks between India and <a href="http://www.businessinsider.in/Gurdaspurstrike-Militants-may-have-sneaked-in-from-Pakistan/articleshow/48239615.cms">Pakistan</a> later this month is likely to be dominated by talks of Gurdaspur terror attacks. India will submit to Pakistan evidence that the three terrorists who carried out <a href="http://www.businessinsider.in/Gurdaspur-terror-attack-Operation-over-all-terrorists-killed/articleshow/48238586.cms">attacks</a> in <a href="http://www.businessinsider.in/Top-security-officials-fear-more-Gurdaspur-like-terror-attempts/articleshow/48250531.cms">Gurdaspur</a> had come from across the border. 
 
Sources privy to the development told PTI that the Indian side could also bring up <a href="http://www.businessinsider.in/10-worst-terrorist-attacks-to-rock-India/articleshow/48237865.cms">terror cases</a> related to wanted gangster and mastermind of 1993 Mumbai blasts <keyword id="6357714" type="PERSON" weightage="100" keywordseo="Dawood-Ibrahim">Dawood Ibrahim</keyword> during the meeting, which was agreed to at the meeting Prime Minister <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword> and his Pakistani counterpart <keyword id="6576" type="PERSON" weightage="100" keywordseo="Nawaz-Sharif">Nawaz Sharif</keyword> in <keyword id="271311" type="CITY" weightage="100" keywordseo="Ufa">Ufa</keyword> in Russia last month. 
 
"Everything will be on table. The agencies are collecting evidence in the case of the Gurdaspur terror attack. The soil samples found in the boots of the three killed terrorists have been sent for investigation," they said. 
 
Sources added the evidence in connection with the Gurdaspur attack is still being collected and collated by the agencies to prepare "solid proof" to prove the cross-border conspiracy that killed seven persons--three civilians, Superintendent of Police (Detective), Baljit Singh, a Punjab provincial service officer and three home guards. 
 They said a dossier will also be prepared and handed over to the other side during the meeting, like the Indian case against 26/11 Mumbai attack mastermind and <keyword id="41305" type="ORGANIZATION" weightage="100" keywordseo="LeT">LeT</keyword> commander Zaki-ur-Rehman Lakhvi who is now out on bail. 
 Similar proof against terror mastermind <keyword id="44106" type="PERSON" weightage="100" keywordseo="Hafiz-Saeed">Hafiz Saeed</keyword>, who India has time and again said has been roaming freely in the neighbouring country, will be shared with Pakistan across the table, they said. 
 
They said all other matters pertaining to cross-border terror cases would be brought on the table, backed by "water-tight" evidence. 
 
The sources, however, said a firm proposal and agenda for the talks, proposed by India between August 23-24, has not been prepared. 
 
Despite the two Premiers agreeing to re-start talks on bilateral issues during their meeting in Ufa, the recent Gurdaspur terror attack and a spate of ceasefire violations by Pakistan along the border has escalated tension between the two countries. 
 
(Image credits: Indiatimes)

Gurdaspur
terror attacks to be discussed in Indo-Pak NSA talks later this month

When Chinese <keyword id="46159" type="POSITION" weightage="80" keywordseo="Foreign-Minister">foreign minister</keyword> Wang Yi told his counterpart <keyword id="6355111" type="PERSON" weightage="100" keywordseo="Sushma-Swaraj">Sushma Swaraj</keyword> that PM Narendra Modi had injected "a new vitality into an ancient civilization'', he might have been speaking for India's entire neighbourhood. 
 
While Modi internally had issues to contend with, not least the criticism over the WTO muddle, he took no time in coming into his own on India's foreign policy, something he followed closely even as Gujarat CM. While the government's erratic handling of Pakistan was called into question, Modi's larger South Asia outreach in the form of invites to all SAARC leaders for his swearing in, followed by a wildly successful visit to Nepal - a country no Indian PM had visited for 17 years for a bilateral meet, reinforced the primacy of neighbours in India's foreign policy like never before in decades, at least not since the days of Gujral Doctrine. 
 
The results are already showing. A deeply divided country which has struggled to frame a Constitution for years, complaining bitterly in the process about alleged Indian interference, Nepal unanimously endorsed Modi's visit which saw Indian announcing an additional $ 1 billion concessional credit line. Sri Lanka has freed all Indian fishermen from its jails. It is also of significance to the ministry of external affairs (MEA) that almost all SAARC leaders have reassured the government they won't allow their territory to be used against India. 
 
Like in the case of his predecessor, Modi too was seen as driving foreign policy. The ministry of external affairs (MEA) was not complaining though as the world seemed captivated by the new PM. Rarely, if ever, has it happened that senior emissaries from all P5 countries have visited India within first 3 months of a new government taking over. That India was the chief saboteur of the WTO trade facilitation deal - in the negotiations for which MEA was not involved - took some sheen off the new government but the interest in India under Modi is not waning just yet. 
 Even before he formally took over as PM, Modi made the point that India's relations with the US were too important to be led by personal whims. That he meant it became obvious when he quickly accepted President <keyword id="16284" type="PERSON" weightage="60" keywordseo="Obama">Obama</keyword>'s invite for a bilateral meet, saving both State Department and MEA the blushes. 
 
While MEA may or may not have seen any cultural change under Modi's leadership, it certainly witnessed some out-of-box thinking. As expected, the ministry under Modi was forced to think of ways to forward India's economic agenda. The decision to make states stake holders in India's economic diplomacy emerged from Modi's desire that foreign policy act as a springboard for economic success. This `state focus' was first put to use with Singapore in August with as many as 4 chief ministers visiting the country, soon after a visit by foreign minister Sushma Swaraj, to explore possibilities for more investments in the infrastructure sector. 
 MEA's 100-day <keyword id="81267" type="UNKNOWN" weightage="80" keywordseo="report-card">report card</keyword> though is not devoid of blemishes. Modi showed understanding of the geopolitical realities in his handling of <keyword id="6355311" type="COUNTRY" weightage="60" keywordseo="Japan">Japan</keyword> and China (his real test will come in September when he meets <keyword id="590894" type="PERSON" weightage="100" keywordseo="Shinzo-Abe">Shinzo Abe</keyword> and Xi Jinping in a short space of time), but his handling of Pakistan was mercurial. He surprised Pakistan by inviting <keyword id="6576" type="PERSON" weightage="60" keywordseo="Nawaz-Sharif">Nawaz Sharif</keyword> for his oath taking, indulged in saree and letter diplomacy with him after a spunky Sharif accepted the invite, leading to announcement of foreign secretary-level talks, and then snubbed him by calling off talks over what Islamabad thought was a routine meeting with Hurriyat. All within 3 months of becoming <keyword id="71" type="POSITION" weightage="80" keywordseo="Prime-Minister">prime minister</keyword>. 
 
The risk now is that Modi, by not including ceasefire violations as one of the reasons for cancelling the scheduled talks, may have painted himself so much into a corner that any dialogue resumption exercise in the near future could turn into a zero sum game for the 2 countries. One of the parties may have to concede ground publicly for any such initiative to be successful. 
 
It must be added here though if the current turmoil in Pakistan does end up unsettling Sharif, Modi will be the only man laughing up his sleeve in the end. 
 
MEA's neighbourhood outreach under Modi will also have no meaning if it doesn't move fast to implement the vision outlined by the PM. The fact that the government has shown no interest in ratification of the land boundary agreement or the Teesta water sharing arrangement doesn't bode well for relations with Bangladesh, a country crucial for India's own security. 
 
100-day hits 
 
The neighbourhood outreach lapped up by most countries 
 
Focus on economic diplomacy with involvement of states 
 
Rescue of Indian nurses from IS in Iraq and evacuation of over 10,000 Indians from conflict areas in Ukraine, Iraq and Libya 
 
Japan and China reaching out to India with Modi sending right messages to both countries 
 
MEA deciding to now 'Act East' with foreign minister Sushma Swaraj visiting 3 Asean countries in the first 3 months 
 
100-day misses 
 
Pakistan remains a holdout nation among India's neighbours despite a promising start by Modi 
 No forward movement on land boundary agreement with <keyword id="6381819" type="COMPANY" weightage="80" keywordseo="Dhaka">Dhaka</keyword> 
 
Over 40 Indian workers kidnapped in Iraq yet to be rescued despite hectic diplomacy

Prime Minister Narendra Modi's 100-Day Hits And Misses

NEW DELHI: Pakistan <keyword id="71" type="POSITION" weightage="80" keywordseo="Prime-Minister">Prime Minister</keyword> <keyword id="6576" type="PERSON" weightage="40" keywordseo="Nawaz-Sharif">Nawaz Sharif</keyword> on Tuesday called his meeting with Prime Minister <keyword id="6354477" type="PERSON" weightage="40" keywordseo="Narendra-Modi">Narendra Modi</keyword> as a 'good, healthy and constructive' one. "I had a very warm meeting with PM Narendra Modi," Sharif said. 
 Calling the meeting a historic event, Sharif said, "We seek to pick up threads from <keyword id="6580" type="COMPANY" weightage="40" keywordseo="Lahore">Lahore</keyword> declaration from where we left in 1999. Legacy of mistrust and misgivings have to be left behind." "India and Pakistan have a common agenda of peace and economic stability. We agreed to review and carry forward our bilateral agenda," he added. 
 
"My government stands ready to discuss with India all issues in a spirit of cooperation," Sharif said. "I urge that we should change from confrontation to cooperation and not engage in accusations and counter-accusations," he said. 
 
Stating that he was pleased to be in Delhi on Narendra Modi's invite, Sharif said, "I have invited Indian PM Narendra Modi to Pakistan." "Foreign secretaries from both the sides will hold meetings to take talks further," he said. 
 
Prime Minister Narendra Modi raised issues of terror and the trial in Mumbai attack case in his first bilateral meeting with Pakistani counterpart Nawaz Sharif here today. 
 
According to sources, Modi raised the issue of slow pace of trial in 26/11 terror case which was being held in Pakistan and as also India's core concern of terror with the visiting Pakistani leader. 
 The two leaders also talked about ways to enhance cooperation in the field of trade during the meeting which was attended by External Affairs Minister <keyword id="6355111" type="PERSON" weightage="40" keywordseo="Sushma-Swaraj">Sushma Swaraj</keyword>, Foreign Secretary Sujatha Singh among others, they said. 
 
The two leaders had a firm handshake and posed for photographers before heading towards the meeting room for talks at the ceremonial Hyderabad House. 
 
(With inputs from PTI)

Nawaz Sharif Calls Meeting With PM Modi Historic; Says Must Pick Up Ties From Vajpayee's Time

Full transcript of PM Narendra Modi's TV interview

<ul><li>IiAS in its open letter questions the silence of five independent board members even though another board member – Nawaz Modi Singhania – has alleged assault by the CEO and accused him of financial misconduct. </li><li>Institutional <keyword id="87717" type="General" weightage="20" keywordseo="advisory-firm" source="Orion">advisory firm</keyword> seeks independent investigation by the board and urges them to protect the interests of minority shareholders. </li><li>Proxy advisory firm asks independent directors to send promoters on leave till investigation is complete. </li></ul><keyword id="6405378" type="General" weightage="20" keywordseo="gautam-singhania" source="Orion">Gautam Singhania</keyword>, the flamboyant chairman and managing director of <keyword id="6368261" type="General" weightage="20" keywordseo="raymond" source="Orion">Raymond</keyword>, is in news for the wrong reasons yet again. But this time the company’s stock has taken a beating after his wife went public with their spat. The company’s <keyword id="30335" type="General" weightage="20" keywordseo="shares" source="Orion">shares</keyword> are down 15% in November after a video of his wife Nawaz Modi Singhania went viral where she is seen sitting outside the gates of JK House because she was not allowed inside. While Singhania wrote to the board that it was business as usual, <keyword id="6359051" type="General" weightage="20" keywordseo="investors" source="Orion">investors</keyword> are not so convinced. In his letter to the board, he has said he is fully committed to the smooth functioning of the company and that he remained the Chairman and MD. Shortly after his letter became public, proxy advisory firm Institutional Investor Advisory Services, has written an open letter to the five independent members on Raymond’s board. These four members are Mukeeta Jhaveri, Ashish Kapadia, Dinesh Lal, K Narsimha Murthy and Shiv Surinder Kumar. The letter recounts the sordid tale of the alleged assault on another board member – Nawaz Modi Singhania – who has alleged that she and her daughter were physically assaulted by Gautam Singhania at JK House (company property) in September 2023. His wife and a board member has also also alleged that company funds were being used for Gautam Singhania’s personal benefit (CEO excesses) – and that she was acting as a whistle-blower of sorts. IiAS in its open letter says that “despite such serious and heinous accusations by one board member against another, you have been silent. Investors are worried, which is reflected in the significant erosion in stock price over the past few days. Your silence can be misconstrued – surely you don’t want stakeholders thinking that these accusations are to be tolerated.” The proxy advisory firm has said in its letter that at the very least, independent directors need to communicate with investors and other stakeholders – assuage their concerns and articulate a course of action that they have taken following these public allegations. “Your actions must protect the company from what proposes to be a long-drawn acrimonious battle between Nawaz Modi and Gautam Singhania. To protect yourselves and delineate yourselves from the allegations, you may wish to retain independent legal counsel.” the letter further says. In the interest of the company and to safeguard interests of a larger set of stakeholders, IiAS urged the independent directors to undertake an independent investigation into the allegations of both – assault and CEO excesses. For the duration of this investigation, they have been asked to consider asking both, Nawaz Modi and Gautam Singhania, to take time off from their responsibilities as board members. IiAS said that it recognizes that asking promoters to step aside would not be easy – but as independent directors they have a fiduciary responsibility towards minority investors, employees and larger set of the company’s stakeholders. “Therefore, you will need to dispassionately separate ownership from management,” the letter says. From the company’s FY23 annual report, IiAS notes that the company has an experienced leadership team with extensive industry experience. The company has also initiated a succession planning process for key roles. Given the leadership depth, IiAS said that they were sure the independent directors would be able to find an interim CEO from within the ranks, who can take over from Gautam Singhania for the duration of the investigation. While the investigation will provide the facts, as independent directors the advisory firm has asked the directors four key questions: <ul><li>1. Has either director violated the company’s code of conduct and ethics policy including (but not limited to) moral turpitude? </li><li>2. Is there a possibility of criminal liabilities on the company or any of its directors? </li><li>3. Are the actions of either director in consonance with the company’s brand? Alternatively, can their actions be disassociated from the brand? </li><li>4. If there is merit in the allegations of CEO excesses, what controls will you put in place to arrest any further slippages? Will the impending divorce and these allegations remain a distraction for the Chairman and Managing Director? If so, then having an interim CEO will support unhindered operations of the company, at least until the divorce settlement is done and that there are no further distractions to discharging the role.</li></ul> Based on the answers to these questions, IiAs has requested the independent directors to take the necessary steps that are in the long-term interest of the company and its stakeholders. If need be, the advisory firm has said that it expects the independent board members to protect the company from its own promoters.

Proxy advisory firm IiAS asks independent board members of Raymond to protect company from promoters by asking them to step away

<ul><li>India's former President <keyword id="9749436" type="UNKNOWN" weightage="20" keywordseo="pranab-mukherjee-passed-away">Pranab Mukherjee passed away</keyword> today due to COVID-19. </li><li>The boy from a small village in rural Bengal, who spent a lifetime as a Congressman with friends across party lines, and beyond politics, embodied the spirit of the Indian hip-hop anthem ‘Apna Time Aayega’ long before it was written. </li><li>His belief that he deserved to be the country’s Prime Minister made the party dynasts uncomfortable. But they couldn’t keep him away for too long.</li></ul>India’s former <keyword id="1159815" type="COMPANY" weightage="20" keywordseo="President-Pranab-Mukherjee">President Pranab Mukherjee</keyword>, who succumbed to COVID-19 away at the age of 84, leaves behind a goldmine of lessons in leadership, politics, and an irreverent spirit of survival. The boy from a small village in rural Bengal, who spent a lifetime as a Congressman with friends across party lines, and beyond politics, embodied the spirit of the Indian hip-hop anthem ‘Apna Time Aayega’ long before it was written. <div type="image" title="Pranab-Mukh" msid="77852979" hostid="261"></div> His belief that he deserved to be the country’s Prime Minister made the party dynasts uncomfortable. But they couldn’t keep him away for too long. They found him useful time and again until he was their best candidate in 2012 to be India’s Commander-in-Chief and First Citizen a.k.a the President. He was even awarded the Bharat Ratna last year. Born in a nondescript village called Mirati in 1935, Mukherjee had done his Masters in Political Science and History, and got himself a law degree, from the University of Calcutta by the time he began his political career in 1969. <div type="image" title="Pranab Ex-Union mInister" msid="77853102" hostid="261"></div> He had even worked as a journalist briefly before taking the plunge into a political career that spanned nearly half a century. Over the next 48 years in public life, he held many responsibilities including being in charge of Ministries of Defence, External Affairs, Commerce, and Finance to name a few. Within 15 years, he had earned enough experience and respect to claim the seat of the Prime Minister of India. According to a popular legend, when Rajiv Gandhi was being flown back from Kolkata to New Delhi after his mother, the incumbent Prime Minister Indiira Gandhi was assassinated by her security guard, <keyword id="6359124" type="UNKNOWN" weightage="20" keywordseo="pranab-mukherjee">Pranab Mukherjee</keyword> assumed (and expressed) that he was the natural successor to the top seat in South Block. <div type="image" title="Pranab 1983" msid="77853114" hostid="261" caption="&amp;lt;p&amp;gt;Pranab Mukherjee with Indira Gandhi. Year: 1983&amp;lt;/p&amp;gt;"></div> It wasn’t the case. Rajiv Gandhi succeeded his mother to a thumping victory⁠— a Parliamentary record that is yet to be broken⁠— and eventually, Mukherjee had to walk out of the Congress. His own party, the Rashtriya Samajwadi Congress, turned out to be a non-starter. He eventually came back, played the troubleshooter many times, and aspired for the coveted office at least one more time. <div type="image" title="Pranab 1984 budget" msid="77853122" hostid="261" caption="&amp;lt;p&amp;gt;Pranab Mukherjee announcing budget 1984&amp;lt;/p&amp;gt;"></div> His first attempt for the Lok Sabha seat in 2004 was successful when the Congress-led United Progressive Alliance came to power. “The prevalent expectation was that I would be the next choice for Prime Minister after Sonia Gandhi declined. This expectation was possibly based on the fact that I had extensive experience in Government, while (Manmohan) Singh’s vast experience was a civil servant with five years as a reformist Finance Minister,” <a href="https://www.business-standard.com/article/politics/manmohan-singh-pranab-mukherjee-had-reason-to-be-upset-when-i-became-pm-117101301254_1.html" data-type="tilCustomLink" target="_blank">he wrote in memoir</a>, one of the four books he had authored in his lifetime. He had believed because he had helped Sonia Gandhi overthrow Sitaram Kesri from the position of Congress’ party president. But once again, the Congress leadership disappointed him with just the Ministry of Defence. This time, he didn’t walk away in a huff. Apna Time Aayega (My time will come) <div type="image" title="Pranab 5" msid="77853136" hostid="261"></div> He wasn’t a Finance Minister that corporate India cherished. The infamous retrospective tax case against Vodafone PLC was possibly one of the most contested policy decisions and it was taken by Pranab Mukherjee when he was at the helm at South Block. That single case was squarely blamed for a lot of the setbacks that Indian economy faced in the subsequent years. It was the economic equivalent of the Shah Bano case where the Supreme Court allowed Muslim women a right to receive maintenance money from a divorced spouse. This landmark case that started the conversation for the need for a Uniform Civil Code in India was overturned by the then Rajiv Gandhi government for some political points with his Muslim electorate. Similarly, <a href="https://www.business-standard.com/article/economy-policy/advised-manmohan-singh-pranab-mukherjee-against-vodafone-tax-montek-120021400054_1.html" data-type="tilCustomLink">Pranab Mukherjee overturned a Supreme Court verdict</a> with a legislation that wanted British telecom major Vodafone to cough up ₹20,000 crore as unpaid tax dues for a deal that was struck five years earlier. It allowed critics to paint the government as a petty bully that would rewrite the law to extract its pound of flesh. The arbitration is still unresolved. Though a lifetime Congressman, Pranab-da managed to win brownie points from the BJP too <div type="image" title="Pranab 4" msid="77853144" hostid="261"></div> In his role as the President, Mukherjee showed why he was often dubbed as the ‘man of all seasons’ in the media. He maintained a cordial relationship with the Narendra Modi administration. He did criticise Modi when he had to ⁠— in 2015 he rapped the government for pushing through one too many ordinances. In 2018, when<a href="https://www.livemint.com/Politics/rkk754u8PHHBXu1JuuWyeM/Full-text-of-Pranab-Mukherjees-RSS-speech-in-Nagpur.html"> his speech at the Rashtriya Swayamsevak Sangh (RSS)</a> headquarters in Nagpur was essentially a lecture on secularism that sounded like notes from ‘Discovery of India’, written by Jawahar Lal Nehru, India’s first Prime Minister that India's Hindu right wingers like to loathe. <div type="image" title="Pranab Lok Sabha Election 2019" msid="77853150" hostid="261" caption="&amp;lt;p&amp;gt;Pranab Mukherjee during Lok Sabha Election 2019&amp;lt;/p&amp;gt;"></div> And yet, he had friends cutting across party lines and foes within his own party. It was alleged in 2011 that<a href="https://timesofindia.indiatimes.com/india/Pranab-Mukherjees-office-bugged/articleshow/8944243.cms"> his office was bugged</a>. The then opposition led by BJP jumped on the opportunity to highlight the differences between Mukherjee and P Chidambaram (who eventually went to reclaim the Finance Minister’s chair after Mukherjee was elevated to the position of President). There are many stories of the eternal struggle of an individual’s lofty personal ambitions against the rude realities of life but there are very few whose successes, even if they are limited, can inspire people to hustle, and to do it with a smile, as did the man from the little village of Mirati. SEE ALSO: <a href="https://www.businessinsider.in/education/news/thousands-of-indians-tweet-rip_pokhriyal-after-the-education-ministry-decides-to-hold-neet-and-jee-exams-in-september/articleshow/77846991.cms" data-type="tilCustomLink">Thousands of Indians tweet #RIP_POKHRIYAL after the Education Ministry decides to hold NEET and JEE exams in September</a> <a href="https://www.businessinsider.in/thelife/personalities/news/facts-about-warren-buffet-and-bill-gates-29-years-old-friendship/articleshow/77846919.cms" data-type="tilCustomLink">Warren Buffet is the only one on Bill Gates’ speed dial aside from Melinda ⁠— that and other secrets of the friendship between two billionaires</a>

Apna Time Aayega? Remembering Pranab Mukherjee, a village boy who couldn’t be stopped from being India’s first citizen

<img class="gwt-Image" src="/photo/51776724.cms" /> 
 
A total of 112 people have died so far because of a huge fire that erupted early morning yesterday, as a result of a massive fireworks display. The display was a part of the concluding day of the annual festival at a Kali temple in Paravur, Kerala. The fire has also incinerated and wounded nearly 400 others, who were in the radius of half kilometres from the temple. 
 Last evening, police detained five people and filed cases against contractors <keyword id="3318601" type="UNKNOWN" weightage="100" keywordseo="Varkala-Krishnankutty">Varkala Krishnankutty</keyword> and <keyword id="3318602" type="UNKNOWN" weightage="100" keywordseo="Kazhakoottam-Surendran">Kazhakoottam Surendran</keyword>, who were entrusted with the fireworks by the temple authorities. While Surendran is himself critically injured in the fire, Krishnankutty is absconding. 
Prima facie, temple authorities violated the district administration's order against holding a fireworks show, while also violating the Supreme Court's directive against the use of fireworks beyond 10pm. 
 
As the incident saw the light of the day, rescue teams found bodies charred beyond recognition, with several body parts missing, some of which were littered on tree branches and under concrete slabs. 
 
"It wasn't the fire alone that scorched people but the way they were hit by broken concrete that flew like projectiles. People close to the fireworks display were flattened by heavy stones and concrete," Biju G, a witness, told TOI. 
 
The incident reportedly occurred when sparks from a rocket fell on an auto packed with explosives and on an adjacent storeroom that stored more explosives. 
 
To make things worse, it has come into notice that the permission for the show is refused every year, but the rule is violated nonetheless. Even the police remain away from intervening, because of the fear of hurting religious sentiments associated with this 50-year-old practice. 
"We will investigate how the orders were flouted and who was responsible for the decision to go ahead with the fireworks display," said CM Oommen Chandy. 
 
However, the rescue work needs to be given a special mention. PM Modi himself flew down to Kollam with a team of specialist doctors from AIIMS, asking to break the protocol. "It was a shocking and horrific accident. In the explosion, heads got severed from bodies. We will ensure all support. We stand with the people of Kerala and will extend all possible help," Modi said. IAF also made available its helicopters for swift rescue operations. 
 
As compensation, relatives of those who died will receive Rs 10 lakh, while those who are seriously injured will receive Rs 2 lakh each and those with minor injuries will receive Rs 50,000 each. The Union government has also announced Rs 2 lakh as compensation for the kin of each deceased person. 
 
From the international circuit, Pakistani PM Nawaz Sharif and Russian President Vladimir Putin have conveyed their condolences to President Mukherjee and PM Modi. 
 
<a href="http://media2.intoday.in/indiatoday/images/Photo_gallery/kerala-5_041016063230.jpg">Image source</a>

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