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The Centre has opposed the plea before the <keyword id="6354977" type="General" weightage="80" keywordseo="supreme-court" source="Orion">Supreme Court</keyword> against the constitutional validity of provisions relating to restitution of conjugal rights under the Hindu <keyword id="6355896" type="General" weightage="20" keywordseo="MARRIAGE" source="Orion">Marriage</keyword> Act and Special Marriage Act. The Centre's affidavit contended that the nature of the institution of marriage is to be properly understood and appreciated before understanding the rationale behind the remedy of conjugal rights. "It is settled law that as per <keyword id="3932621" type="General" weightage="80" keywordseo="hindu-personal-law" source="Orion">Hindu Personal Law</keyword>, especially concerning Hindu Marriage Act, 1955, marriage is not a union, it is a sacrament. In other words, it is settled law that Hindu Personal Law attaches a greater degree of sanctity to the institution of marriage." It added that "the statutory mechanism provided in the various enactments for restitution of conjugal rights is aimed at bringing in cohabitation between estranged parties so that they can live together in the matrimonial home in amity. The intention of restitution of conjugal rights is to preserve the institution of marriage, allowing spouses to a relatively soft legal remedy by which they can iron out differences arising out of the normal wear and tear of matrimonial life with judicial intervention and is aimed towards cohabitation and consortium and not merely sexual intercourse". The Centre's response came on a petition filed by two law students assailing the judgment of the court in the case of Saroj Rani v. <keyword id="14906385" type="General" weightage="80" keywordseo="sudarshan-kumar-chadha" source="Orion">Sudarshan Kumar Chadha</keyword>. The plea had argued that restitution of conjugal rights violates the right to privacy. The Centre's affidavit added that "the decision rendered by this court in its privacy judgment had in effect upheld its earlier decision in Saroj Rani and reaffirmed the vires of various provisions for restitution of conjugal rights and had also clarified that the right to privacy is not absolute and is subject to reasonable restrictions by the state in order to protect larger public interest, which in the present case is the institution of marriage and family". The plea is scheduled for hearing on Tuesday. The petitioner moved the apex court, through advocates Atul Vinod and Pranjal Kishore, seeking a direction that section 9 of the Hindu Marriage Act, 1955, section 22 of the Special Marriage Act, 1954 and order 21 rule 32 and 33 of the Code of Civil Procedure, 1908 are violative of fundamental rights and hence, unconstitutional. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/ondc-is-a-population-scale-initiative-to-democratize-e-commerce-jm-financial/articleshow/94017558.cms">ONDC is a population-scale initiative to democratize e-commerce: JM Financial</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/ril-acquires-california-based-solar-software-developer-sensehawk-for-32-million/articleshow/94016174.cms">RIL acquires California-based solar software developer SenseHawk for $32 million</a>

Marriage is a sacrament says Centre to SC in restitution of conjugal rights case

<keyword id="14907483" type="General" weightage="20" keywordseo="jm-financial-institutional-securities-ltd-" source="Orion">JM Financial Institutional Securities Ltd.</keyword> has released its report on Open Network for <keyword id="1664180" type="General" weightage="50" keywordseo="digital-commerce" source="Orion">Digital Commerce</keyword> (<keyword id="5862596" type="General" weightage="100" keywordseo="ondc" source="Orion">ONDC</keyword>) terming the company a population-scale initiative to democratise e-commerce, the detailed report concludes that it has the potential to create a win-win scenario for incumbents as well as new entrants. The report also terms extreme operational complexity as the roadblocks for ONDC. "With its primary focus of enabling e-commerce for small retailers and MSMEs, ONDC has the potential to enhance retail digital penetration in the country at an even faster pace than what was seen during the COVID lockdowns. The network will enable a wider customer catchment to small retailers and direct customer access to MSMEs, creating millions of million-dollar businesses," said the report. Using an open source protocol, ONDC switches the approach from closed platforms to a network that creates interoperability across all on boarded applications, says the report. "This interoperability enables unbundling, which allows all participants to play to their strengths -- a banking app with millions of consumers focuses on boarding/engaging consumers while a SaaS provider for online sellers handholds the sellers. Further, the buyers get to stick to their app of choice for accessing a broad selection while sellers do not need to spend time and capital in working with multiple platforms in silos. Overall, this can drive capital efficiency for the players, helping them achieve profitability," said the report. As per the report, the roadblocks to success of ONDC include solving the chicken and egg situation between supplier and buyer on boarding, customer complaints redressal (as a fragmented process also creates gaps for the process to fall through), competition issues in case the large incumbents or massive brands are on boarded as well as those related to data privacy and ownership. "Looking at <keyword id="6358921" type="General" weightage="50" keywordseo="upi" source="Orion">UPI</keyword> evolution, ONDC might also need to decide on its positioning as a non-regulatory authority or becoming a rule-setting body in order to ensure that the network remains fairly attuned for the small retailer to not get marginalised," said the report. Open Network for Digital Commerce (ONDC) has been incubated with the primary purpose of supporting grassroots-level entrepreneurship and digitising small, local retailers by making them a participant in India's e-commerce revolution. ONDC is pursuing an open protocol approach that drives interoperability between all onboarded platforms and, hence, lowering the entry barrier for a retailer to sell online. This allows a consumer on any app of his/her choice to buy from any seller across the network even if the seller might not be onboarded on the app that the customer is using. "We appreciate this move by the Indian government to take the digital revolution across the nook and corner of the country and believe that this could be a massive driver in taking India's digital penetration in retail from the current 5-7 per cent to almost 20 per cent in the next 5 years (current IBEF estimate is of 19 per cent by 2030)," said the report. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/ril-acquires-california-based-solar-software-developer-sensehawk-for-32-million/articleshow/94016174.cms">RIL acquires California-based solar software developer SenseHawk for $32 million</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-has-held-its-own-despite-sharp-depreciation-in-other-currencies-rbi-governor/articleshow/94015738.cms">Rupee has held its own despite sharp depreciation in other currencies: RBI Governor</a>

ONDC is a population-scale initiative to democratize e-commerce: JM Financial

<ul><li><keyword id="6484187" type="General" weightage="100" keywordseo="ril" source="Orion">RIL</keyword> signed an agreement to acquire a majority stake in <keyword id="6910301" type="General" weightage="80" keywordseo="sensehawk" source="Orion">SenseHawk</keyword>, a California based software developer.</li><li>SenseHawk is an early stage startup founded in 2018 and develops software-based management tools for the solar energy generation industry.</li><li>RIL chairman Mukesh Ambani said that, in collaboration with SenseHawk, they can drive down costs, enhance productivity and improve on-time performance.</li></ul><keyword id="6355199" type="General" weightage="50" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> signed an agreement to acquire a majority stake in SenseHawk, a California based software developer that specializes in solar power. The total transaction value is $32 million which also includes funding for future growth, commercial rollout of products and R&amp;D. SenseHawk is an early stage startup founded in 2018; and develops software-based management tools for the solar energy generation industry. It helps accelerate solar projects from planning to production by helping companies streamline processes and use automation, RIL said in a press release. RIL has recently reiterated its commitments to the green energy sector and has plans to enable 100 GW of solar energy by 2030. “In collaboration with SenseHawk, we will drive down costs, enhance productivity and improve on-time performance to deliver the lowest LCoE (levelized cost of energy) for solar projects globally and make solar energy the go-to source of power in lockstep with our vision for solar energy. It is a very exciting technology platform and I am confident that, with RIL’s support, SenseHawk will grow multifold,” said <keyword id="157940" type="General" weightage="50" keywordseo="mukesh-d-ambani" source="Orion">Mukesh D Ambani</keyword>, chairman of Reliance Industries. SenseHawk’s Solar Digital Platform offers end-to-end management of solar asset life cycles. It claims to have helped over 140 customers in 15 countries adopt new technology for over 600 sites and assets totalling over 100 GW. “I believe this partnership will open new use cases, help our nascent markets, and offer higher value to customers across the solar lifecycle. We are on a mission to improve the solar energy ecosystem, acquiring 50% of the market by 2025 and with RIL as our partner, we will accelerate our execution toward that goal,” said <keyword id="14906863" type="General" weightage="50" keywordseo="rahul-sankhe" source="Orion">Rahul Sankhe</keyword>, president and co-founder of SenseHawk. The transaction is subject to regulatory and other customary closing conditions, and is expected to complete before the end of 2022. Covington &amp; Burling LLP and Khaitan &amp; Co acted as the legal advisors and Deloitte as the accounting and tax advisor to RIL on this transaction. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/india-has-not-generated-outsized-returns-for-foreign-investors-says-ambits-nitin-bhasin/articleshow/94013159.cms">India has not generated outsized returns for foreign investors, says Ambit’s Nitin Bhasin</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/investment-lessons-from-rakesh-jhunjhunwalas-1111-partner-utpal-sheth/articleshow/94008505.cms">Investment lessons from Rakesh Jhunjhunwala’s 1+1=11 partner, Utpal Sheth</a>

RIL acquires California-based solar software developer SenseHawk for $32 million

<ul><li>Shares of DreamFolks Services listed at ₹505 while the shares were allotted at ₹326 per share.</li><li>However, shares of the company ended 8% down at ₹462.</li><li>The company’s IPO received strong demand across the category of investors and it is one of the highest subscribed IPOs so far, in 2022.</li><li>The market capitalisation of the company stood at ₹2,638 crore.</li></ul>Shares of airport service aggregator, DreamFolks Services, which listed today ended 8% lower at ₹462 as compared to its listing price of ₹505 due to volatile market movements. The shares were allotted at ₹326 apiece. Post-listing, the market capitalisation of the company stood at ₹2,638 crore, according to BSE data. The IPO opened for subscription between August 24 to August 26 ⁠and was subscribed 3.53 times. The issue received good demand across the investor categories. It’s one of the highest subscribed IPOs so far in 2022. Retail investors had subscribed to the IPO by 43.66 times. Overall, 53.74 crore shares have been on bid as against 94.83 lakh shares available for allotment. As the stock opened, its listing gains stood at ₹176, a bit more than the grey market premium (GMP), which indicated a premium of ₹120. Also, the strong listing gains were in line with analysts’ expectations who see the company’s dominant position in lounge access markets playing out a good growth story ahead. “DreamFolks is a proxy play on the rising air travel in India and due to its first mover advantage and dominant position in the lounge access market, the company is poised to grow exponentially in the future. The issue had received a phenomenal response from investors and the subscription levels stood at 56.68 times. Additionally, GMP is 152 i.e. 46.63% over its listing price, thus indicating a promising and strong listing performance,” Aayush Agrawal, senior research analyst at Swastika Investmart. The airport service aggregator began operations in 2013 facilitating airport lounge access services and has now become an end-to-end technology solutions provider. Covid restrictions have severely impacted the airport service provider’s financials however it is now recovering from the lows as the travel industry has picked up. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><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;">Particulars </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;">Revenue </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;">Profit </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;">FY22 </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;">₹283 crore </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;">₹31 crore </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;">FY21 </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;">₹108 crore </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;">-₹1.45 crore </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;">FY20 </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;">₹367 crore </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;">₹16.25 crore </td></tr></tbody><tbody></tbody><tbody></tbody></table> Further, the company believes that if the impact of Covid-19 is prolonged or more severe than anticipated, it may face a deleterious impact on its business as per its DRHP. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/india-has-not-generated-outsized-returns-for-foreign-investors-says-ambits-nitin-bhasin/articleshow/94013159.cms">India has not generated outsized returns for foreign investors, says Ambit’s Nitin Bhasin</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/ril-acquires-california-based-solar-software-developer-sensehawk-for-32-million/articleshow/94016174.cms">RIL acquires California-based solar software developer SenseHawk for $32 million</a>

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Marriage is a sacrament says Centre to SC in restitution of conjugal rights case

IANS

ONDC is a population-scale initiative to democratize e-commerce: JM Financial

IANS

RIL acquires California-based solar software developer SenseHawk for $32 million

Katya Naidu

DreamFolks Services stock slips 8% from its listing price

Bhakti Makwana

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